Industrivarden AB ser. C (INDU-C) - Net Assets
Based on the latest financial reports, Industrivarden AB ser. C (INDU-C) has net assets worth Skr203.44 Billion SEK (≈ $21.89 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr211.38 Billion ≈ $22.75 Billion USD) and total liabilities (Skr7.93 Billion ≈ $853.72 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check INDU-C tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr203.44 Billion |
| % of Total Assets | 96.25% |
| Annual Growth Rate | 10.62% |
| 5-Year Change | 33.51% |
| 10-Year Change | 132.58% |
| Growth Volatility | 44.49 |
Industrivarden AB ser. C - Net Assets Trend (2002–2025)
This chart illustrates how Industrivarden AB ser. C's net assets have evolved over time, based on quarterly financial data. See INDU-C days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Industrivarden AB ser. C (2002–2025)
The table below shows the annual net assets of Industrivarden AB ser. C from 2002 to 2025. For live valuation and market cap data, see market value of Industrivarden AB ser. C.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr191.02 Billion ≈ $20.56 Billion |
+20.00% |
| 2024-12-31 | Skr159.18 Billion ≈ $17.13 Billion |
+6.20% |
| 2023-12-31 | Skr149.88 Billion ≈ $16.13 Billion |
+18.78% |
| 2022-12-31 | Skr126.18 Billion ≈ $13.58 Billion |
-11.81% |
| 2021-12-31 | Skr143.08 Billion ≈ $15.40 Billion |
+18.27% |
| 2020-12-31 | Skr120.98 Billion ≈ $13.02 Billion |
+7.51% |
| 2019-12-31 | Skr112.53 Billion ≈ $12.11 Billion |
+32.17% |
| 2018-12-31 | Skr85.14 Billion ≈ $9.16 Billion |
-11.20% |
| 2017-12-31 | Skr95.88 Billion ≈ $10.32 Billion |
+16.74% |
| 2016-12-31 | Skr82.13 Billion ≈ $8.84 Billion |
+21.04% |
| 2015-12-31 | Skr67.85 Billion ≈ $7.30 Billion |
+0.66% |
| 2014-12-31 | Skr67.41 Billion ≈ $7.25 Billion |
+13.71% |
| 2013-12-31 | Skr59.28 Billion ≈ $6.38 Billion |
+22.39% |
| 2012-12-31 | Skr48.44 Billion ≈ $5.21 Billion |
+23.75% |
| 2011-12-31 | Skr39.14 Billion ≈ $4.21 Billion |
-30.51% |
| 2010-12-31 | Skr56.33 Billion ≈ $6.06 Billion |
+32.40% |
| 2009-12-31 | Skr42.54 Billion ≈ $4.58 Billion |
+80.40% |
| 2008-12-31 | Skr23.58 Billion ≈ $2.54 Billion |
-56.99% |
| 2007-12-31 | Skr54.84 Billion ≈ $5.90 Billion |
-6.25% |
| 2006-12-31 | Skr58.49 Billion ≈ $6.29 Billion |
+21.28% |
| 2005-12-31 | Skr48.23 Billion ≈ $5.19 Billion |
+188.56% |
| 2004-12-31 | Skr16.71 Billion ≈ $1.80 Billion |
+1.83% |
| 2003-12-31 | Skr16.41 Billion ≈ $1.77 Billion |
-12.37% |
| 2002-12-31 | Skr18.73 Billion ≈ $2.02 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Industrivarden AB ser. C's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 4741.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr188.87 Billion | 98.87% |
| Common Stock | Skr1.09 Billion | 0.57% |
| Other Components | Skr1.06 Billion | 0.56% |
| Total Equity | Skr191.02 Billion | 100.00% |
Industrivarden AB ser. C Competitors by Market Cap
The table below lists competitors of Industrivarden AB ser. C ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Renaissancere Holdings Ltd
NYSE:RNR
|
$12.05 Billion |
|
Cipla Limited
NSE:CIPLA
|
$12.07 Billion |
|
BUREAU VERITAS ADR EO-12
F:4BV0
|
$12.07 Billion |
|
Kuang Chi Technologies Co Ltd
SHE:002625
|
$12.08 Billion |
|
Skyverse Technology Co. Ltd. A
SHG:688361
|
$12.04 Billion |
|
Hasbro Inc
NASDAQ:HAS
|
$12.03 Billion |
|
MAPFRE S.A.ADR 2 / EO-10
F:CMA
|
$12.03 Billion |
|
Li Auto Inc
NASDAQ:LI
|
$12.01 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Industrivarden AB ser. C's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 159,178,000,000 to 191,018,000,000, a change of 31,840,000,000 (20.0%).
- Net income of 35,401,000,000 contributed positively to equity growth.
- Dividend payments of 3,563,000,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr35.40 Billion | +18.53% |
| Dividends Paid | Skr3.56 Billion | -1.87% |
| Other Changes | Skr2.00 Million | +0.0% |
| Total Change | Skr- | 20.00% |
Book Value vs Market Value Analysis
This analysis compares Industrivarden AB ser. C's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.14x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 10.43x to 1.14x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | Skr48.49 | Skr506.00 | x |
| 2003-12-31 | Skr42.49 | Skr506.00 | x |
| 2004-12-31 | Skr43.27 | Skr506.00 | x |
| 2005-12-31 | Skr124.85 | Skr506.00 | x |
| 2006-12-31 | Skr151.42 | Skr506.00 | x |
| 2007-12-31 | Skr141.97 | Skr506.00 | x |
| 2008-12-31 | Skr62.68 | Skr506.00 | x |
| 2009-12-31 | Skr110.14 | Skr506.00 | x |
| 2010-12-31 | Skr131.76 | Skr506.00 | x |
| 2011-12-31 | Skr101.33 | Skr506.00 | x |
| 2012-12-31 | Skr104.93 | Skr506.00 | x |
| 2013-12-31 | Skr128.17 | Skr506.00 | x |
| 2014-12-31 | Skr145.55 | Skr506.00 | x |
| 2015-12-31 | Skr146.44 | Skr506.00 | x |
| 2016-12-31 | Skr177.26 | Skr506.00 | x |
| 2017-12-31 | Skr220.43 | Skr506.00 | x |
| 2018-12-31 | Skr195.63 | Skr506.00 | x |
| 2019-12-31 | Skr258.56 | Skr506.00 | x |
| 2020-12-31 | Skr277.97 | Skr506.00 | x |
| 2021-12-31 | Skr331.28 | Skr506.00 | x |
| 2022-12-31 | Skr292.15 | Skr506.00 | x |
| 2023-12-31 | Skr347.03 | Skr506.00 | x |
| 2024-12-31 | Skr368.57 | Skr506.00 | x |
| 2025-12-31 | Skr442.27 | Skr506.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Industrivarden AB ser. C utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 18.53%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 99.18%
- • Asset Turnover: 0.18x
- • Equity Multiplier: 1.04x
- Recent ROE (18.53%) is above the historical average (8.24%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 20.83% | 41.56% | 0.39x | 1.30x | Skr2.03 Billion |
| 2003 | 5.28% | 24.51% | 0.17x | 1.28x | Skr-774.30 Million |
| 2004 | 44.62% | 127.79% | 0.24x | 1.43x | Skr5.79 Billion |
| 2005 | 29.45% | 6455.45% | 0.00x | 1.12x | Skr9.38 Billion |
| 2006 | 19.87% | 5869.19% | 0.00x | 1.11x | Skr5.77 Billion |
| 2007 | -3.54% | 0.00% | -0.03x | 1.21x | Skr-7.43 Billion |
| 2008 | -123.45% | 0.00% | -0.79x | 1.53x | Skr-31.47 Billion |
| 2009 | 48.58% | 97.14% | 0.40x | 1.26x | Skr16.41 Billion |
| 2010 | 26.40% | 95.92% | 0.22x | 1.27x | Skr9.24 Billion |
| 2011 | -39.98% | 0.00% | -0.26x | 1.46x | Skr-19.56 Billion |
| 2012 | 22.73% | 94.88% | 0.17x | 1.42x | Skr6.16 Billion |
| 2013 | 20.48% | 93.96% | 0.16x | 1.34x | Skr6.21 Billion |
| 2014 | 7.81% | 89.65% | 0.07x | 1.25x | Skr-1.48 Billion |
| 2015 | 4.57% | 91.62% | 0.04x | 1.22x | Skr-3.68 Billion |
| 2016 | 20.03% | 98.54% | 0.17x | 1.16x | Skr8.24 Billion |
| 2017 | 16.22% | 99.37% | 0.14x | 1.13x | Skr5.97 Billion |
| 2018 | -9.78% | 0.00% | -0.09x | 1.10x | Skr-16.84 Billion |
| 2019 | 26.52% | 99.65% | 0.26x | 1.04x | Skr18.58 Billion |
| 2020 | 6.98% | 99.34% | 0.07x | 1.07x | Skr-3.66 Billion |
| 2021 | 18.59% | 99.65% | 0.18x | 1.05x | Skr12.29 Billion |
| 2022 | -11.07% | 0.00% | -0.10x | 1.07x | Skr-26.59 Billion |
| 2023 | 20.15% | 99.52% | 0.19x | 1.06x | Skr15.22 Billion |
| 2024 | 7.95% | 97.97% | 0.08x | 1.05x | Skr-3.26 Billion |
| 2025 | 18.53% | 99.18% | 0.18x | 1.04x | Skr16.30 Billion |
Industry Comparison
This section compares Industrivarden AB ser. C's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $2,923,081,345
- Average return on equity (ROE) among peers: 17.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Industrivarden AB ser. C (INDU-C) | Skr203.44 Billion | 20.83% | 0.04x | $12.05 Billion |
| Athanase Innovation AB (ATIN) | $244.06 Million | 2.54% | 1.77x | $44.14 Million |
| Bure Equity AB (BURE) | $17.70 Billion | 18.58% | 0.01x | $2.21 Billion |
| Case Group AB (CASE) | $66.36 Million | 50.67% | 0.30x | $80.01 Million |
| Catella AB A (CAT-A) | $1.25 Billion | 17.33% | 2.48x | $4.93 Million |
| Catella AB (publ) (CAT-B) | $889.00 Million | 33.30% | 3.39x | $192.98 Million |
| Creades AB (CRED-A) | $7.95 Billion | 45.87% | 0.05x | $797.05 Million |
| Effnetplattformen Holding AB (EFFH) | $21.43 Million | -27.81% | 0.17x | $14.30 Million |
| EQT AB (publ) (EQT) | $1.08 Billion | 14.75% | 0.32x | $36.51 Billion |
| First Venture Sweden AB Series B (FIRST-B) | $16.66 Million | -2.71% | 0.00x | $5.50 Million |
| Flat Capital AB Series B (FLAT-B) | $6.19 Million | 22.54% | 0.01x | $455.17 Million |
About Industrivarden AB ser. C
AB Industrivärden is a publicly owned investment manager. The firm invests in the public equity markets of Nordic region. It employs fundamental analysis, with a focus on factors like long term return potential, proven business model, balance between risk and return, and attractive valuation to create its portfolio. AB Industrivärden was founded in 1944 and is based in Stockholm, Sweden.