NOTE AB
NOTE AB (publ), together with its subsidiaries, provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally. The company offers production technology services in close collaboration with customers, such as component selection, developing test equipment, prototyping, and serial production. It also produces PCBAs, subassemblies, … Read more
NOTE AB (NOTE) - Net Assets
Latest net assets as of December 2025: Skr1.65 Billion SEK
Based on the latest financial reports, NOTE AB (NOTE) has net assets worth Skr1.65 Billion SEK as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr3.43 Billion) and total liabilities (Skr1.79 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr1.65 Billion |
| % of Total Assets | 47.99% |
| Annual Growth Rate | 19.32% |
| 5-Year Change | 105.93% |
| 10-Year Change | 418.2% |
| Growth Volatility | 38.0 |
NOTE AB - Net Assets Trend (2000–2025)
This chart illustrates how NOTE AB's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for NOTE AB (2000–2025)
The table below shows the annual net assets of NOTE AB from 2000 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr1.65 Billion | +0.58% |
| 2024-12-31 | Skr1.64 Billion | +17.36% |
| 2023-12-31 | Skr1.40 Billion | +27.09% |
| 2022-12-31 | Skr1.10 Billion | +37.27% |
| 2021-12-31 | Skr800.26 Million | +40.98% |
| 2020-12-31 | Skr567.63 Million | +22.01% |
| 2019-12-31 | Skr465.25 Million | +21.28% |
| 2018-12-31 | Skr383.63 Million | +3.90% |
| 2017-12-31 | Skr369.22 Million | +16.10% |
| 2016-12-31 | Skr318.03 Million | +10.76% |
| 2015-12-31 | Skr287.14 Million | +6.29% |
| 2014-12-31 | Skr270.16 Million | +13.45% |
| 2013-12-31 | Skr238.14 Million | -8.58% |
| 2012-12-31 | Skr260.50 Million | +0.41% |
| 2011-12-31 | Skr259.44 Million | +19.55% |
| 2010-12-31 | Skr217.01 Million | +3.37% |
| 2009-12-31 | Skr209.93 Million | -28.82% |
| 2008-12-31 | Skr294.93 Million | -9.92% |
| 2007-12-31 | Skr327.41 Million | +22.11% |
| 2006-12-31 | Skr268.13 Million | +30.73% |
| 2005-12-31 | Skr205.11 Million | -21.94% |
| 2004-12-31 | Skr262.75 Million | +79.07% |
| 2003-12-31 | Skr146.73 Million | +58.62% |
| 2002-12-31 | Skr92.51 Million | +160.49% |
| 2001-12-31 | Skr35.51 Million | +78.14% |
| 2000-12-31 | Skr19.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to NOTE AB'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 decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | Skr1.65 Billion | 100.00% |
| Total Equity | Skr1.65 Billion | 100.00% |
NOTE AB Competitors by Market Cap
The table below lists competitors of NOTE AB ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hartalega Holdings Bhd
KLSE:5168
|
$306.86 Million |
|
Shinkong Textile Co Ltd
TW:1419
|
$306.86 Million |
|
Luoyang Jalon Micro-Nano New Materials Co Ltd
SHG:688357
|
$306.92 Million |
|
Cedar Woods Properties Ltd
AU:CWP
|
$306.94 Million |
|
kneat.com inc.
OTCQX:KSIOF
|
$306.73 Million |
|
Shanghai Kinlita Chemical Co
SHE:300225
|
$306.59 Million |
|
Tianjin Pengling Rubber Hose Co Ltd
SHE:300375
|
$306.52 Million |
|
Beijing Kaiwen Education Technology Co Ltd
SHE:002659
|
$306.46 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NOTE AB's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,638,426,000 to 1,648,000,000, a change of 9,574,000 (0.6%).
- Net income of 281,000,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 90,818,000.
- Other factors decreased equity by 180,608,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr281.00 Million | +17.05% |
| Other Comprehensive Income | Skr-90.82 Million | -5.51% |
| Other Changes | Skr-180.61 Million | -10.96% |
| Total Change | Skr- | 0.58% |
Book Value vs Market Value Analysis
This analysis compares NOTE AB'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: 3.30x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 22.37x to 3.30x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | Skr8.52 | Skr190.60 | x |
| 2004-12-31 | Skr13.91 | Skr190.60 | x |
| 2005-12-31 | Skr10.21 | Skr190.60 | x |
| 2006-12-31 | Skr13.34 | Skr190.60 | x |
| 2007-12-31 | Skr16.29 | Skr190.60 | x |
| 2008-12-31 | Skr14.68 | Skr190.60 | x |
| 2009-12-31 | Skr13.33 | Skr190.60 | x |
| 2010-12-31 | Skr8.92 | Skr190.60 | x |
| 2011-12-31 | Skr8.99 | Skr190.60 | x |
| 2012-12-31 | Skr9.02 | Skr190.60 | x |
| 2013-12-31 | Skr8.25 | Skr190.60 | x |
| 2014-12-31 | Skr9.36 | Skr190.60 | x |
| 2015-12-31 | Skr9.95 | Skr190.60 | x |
| 2016-12-31 | Skr11.01 | Skr190.60 | x |
| 2017-12-31 | Skr12.66 | Skr190.60 | x |
| 2018-12-31 | Skr13.29 | Skr190.60 | x |
| 2019-12-31 | Skr16.06 | Skr190.60 | x |
| 2020-12-31 | Skr19.88 | Skr190.60 | x |
| 2021-12-31 | Skr27.73 | Skr190.60 | x |
| 2022-12-31 | Skr37.90 | Skr190.60 | x |
| 2023-12-31 | Skr48.17 | Skr190.60 | x |
| 2024-12-31 | Skr56.85 | Skr190.60 | x |
| 2025-12-31 | Skr57.73 | Skr190.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NOTE AB 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): 17.05%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.37%
- • Asset Turnover: 1.11x
- • Equity Multiplier: 2.08x
- Recent ROE (17.05%) is above the historical average (12.50%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 29.18% | 1.66% | 1.88x | 9.35x | Skr3.82 Million |
| 2001 | 43.85% | 3.03% | 2.14x | 6.76x | Skr12.02 Million |
| 2002 | 23.27% | 3.35% | 1.44x | 4.82x | Skr12.18 Million |
| 2003 | 30.39% | 5.13% | 1.30x | 4.57x | Skr29.59 Million |
| 2004 | 4.04% | 0.95% | 1.50x | 2.81x | Skr-15.54 Million |
| 2005 | -27.14% | -3.70% | 1.85x | 3.96x | Skr-76.19 Million |
| 2006 | 25.59% | 3.94% | 1.96x | 3.31x | Skr41.80 Million |
| 2007 | 23.90% | 4.49% | 1.84x | 2.90x | Skr45.50 Million |
| 2008 | 4.45% | 0.77% | 1.80x | 3.22x | Skr-16.36 Million |
| 2009 | -38.59% | -6.75% | 1.59x | 3.59x | Skr-102.01 Million |
| 2010 | -28.55% | -5.12% | 1.75x | 3.20x | Skr-83.66 Million |
| 2011 | 15.18% | 3.26% | 1.91x | 2.44x | Skr13.45 Million |
| 2012 | 4.84% | 1.23% | 1.79x | 2.21x | Skr-13.43 Million |
| 2013 | 0.27% | 0.07% | 1.68x | 2.27x | Skr-23.16 Million |
| 2014 | 9.10% | 2.55% | 1.57x | 2.27x | Skr-2.43 Million |
| 2015 | 12.06% | 3.09% | 1.69x | 2.31x | Skr5.92 Million |
| 2016 | 14.22% | 4.12% | 1.58x | 2.18x | Skr13.42 Million |
| 2017 | 19.54% | 6.14% | 1.56x | 2.05x | Skr35.21 Million |
| 2018 | 16.75% | 4.66% | 1.43x | 2.52x | Skr25.88 Million |
| 2019 | 19.83% | 5.24% | 1.56x | 2.43x | Skr45.75 Million |
| 2020 | 20.38% | 6.17% | 1.69x | 1.95x | Skr58.90 Million |
| 2021 | 24.25% | 7.34% | 1.27x | 2.59x | Skr114.04 Million |
| 2022 | 23.14% | 6.90% | 1.33x | 2.52x | Skr144.39 Million |
| 2023 | 22.92% | 7.54% | 1.32x | 2.31x | Skr180.34 Million |
| 2024 | 15.14% | 6.36% | 1.22x | 1.96x | Skr84.19 Million |
| 2025 | 17.05% | 7.37% | 1.11x | 2.08x | Skr116.20 Million |
Industry Comparison
This section compares NOTE AB's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $350,753,376
- Average return on equity (ROE) among peers: -2.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NOTE AB (NOTE) | Skr1.65 Billion | 29.18% | 1.08x | $306.82 Million |
| Acconeer AB (ACCON) | $120.49 Million | -51.70% | 0.07x | $52.83 Million |
| Acuvi AB (ACUVI) | $435.25 Million | 6.59% | 0.29x | $17.52 Million |
| Hanza AB (HANZA) | $1.34 Billion | 15.91% | 1.18x | $307.34 Million |
| JonDeTech Sensors (JDT) | $38.32 Million | -24.25% | 0.03x | $2.00 Million |
| NCAB Group (NCAB) | $81.14 Million | 67.40% | 4.88x | $784.83 Million |
| Unibap AB (UNIBAP) | $84.32 Million | -29.00% | 0.51x | $4.15 Million |