Pandox AB (publ) (PNDX-B) - Net Assets
Based on the latest financial reports, Pandox AB (publ) (PNDX-B) has net assets worth Skr34.94 Billion SEK (≈ $3.76 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 (Skr113.78 Billion ≈ $12.24 Billion USD) and total liabilities (Skr78.83 Billion ≈ $8.48 Billion 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 PNDX-B tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr34.94 Billion |
| % of Total Assets | 30.71% |
| Annual Growth Rate | 9.9% |
| 5-Year Change | 33.62% |
| 10-Year Change | 122.64% |
| Growth Volatility | 10.78 |
Pandox AB (publ) - Net Assets Trend (2011–2025)
This chart illustrates how Pandox AB (publ)'s net assets have evolved over time, based on quarterly financial data. See PNDX-B days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Pandox AB (publ) (2011–2025)
The table below shows the annual net assets of Pandox AB (publ) from 2011 to 2025. For live valuation and market cap data, see Pandox AB (publ) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr33.97 Billion ≈ $3.66 Billion |
+0.82% |
| 2024-12-31 | Skr33.70 Billion ≈ $3.63 Billion |
+13.36% |
| 2023-12-31 | Skr29.73 Billion ≈ $3.20 Billion |
-3.91% |
| 2022-12-31 | Skr30.93 Billion ≈ $3.33 Billion |
+21.68% |
| 2021-12-31 | Skr25.42 Billion ≈ $2.74 Billion |
+5.54% |
| 2020-12-31 | Skr24.09 Billion ≈ $2.59 Billion |
-9.12% |
| 2019-12-31 | Skr26.51 Billion ≈ $2.85 Billion |
+23.07% |
| 2018-12-31 | Skr21.54 Billion ≈ $2.32 Billion |
+13.20% |
| 2017-12-31 | Skr19.03 Billion ≈ $2.05 Billion |
+24.70% |
| 2016-12-31 | Skr15.26 Billion ≈ $1.64 Billion |
+24.91% |
| 2015-12-31 | Skr12.21 Billion ≈ $1.31 Billion |
+17.43% |
| 2014-12-31 | Skr10.40 Billion ≈ $1.12 Billion |
-0.26% |
| 2013-12-31 | Skr10.43 Billion ≈ $1.12 Billion |
+11.00% |
| 2012-12-31 | Skr9.40 Billion ≈ $1.01 Billion |
+3.76% |
| 2011-12-31 | Skr9.05 Billion ≈ $974.43 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Pandox AB (publ)'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 231.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr23.65 Billion | 70.11% |
| Common Stock | Skr487.00 Million | 1.44% |
| Other Comprehensive Income | Skr-46.00 Million | -0.14% |
| Other Components | Skr9.64 Billion | 28.58% |
| Total Equity | Skr33.73 Billion | 100.00% |
Pandox AB (publ) Competitors by Market Cap
The table below lists competitors of Pandox AB (publ) ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
89bio Inc
NASDAQ:ETNB
|
$2.20 Billion |
|
Bank of N.T. Butterfield & Son Ltd
NYSE:NTB
|
$2.20 Billion |
|
Anhui Heli Co Ltd
SHG:600761
|
$2.21 Billion |
|
Gränges AB (publ)
ST:GRNG
|
$2.21 Billion |
|
Shanghai Liangxin Electrical Co Ltd
SHE:002706
|
$2.20 Billion |
|
Redwire Corp
NYSE:RDW
|
$2.20 Billion |
|
Hilltop Holdings Inc
NYSE:HTH
|
$2.20 Billion |
|
China Eastern Airlines Corporation Limited
F:CIAH
|
$2.20 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pandox AB (publ)'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 33,528,000,000 to 33,729,000,000, a change of 201,000,000 (0.6%).
- Net income of 3,140,000,000 contributed positively to equity growth.
- Dividend payments of 827,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 2,280,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr3.14 Billion | +9.31% |
| Dividends Paid | Skr827.00 Million | -2.45% |
| Other Comprehensive Income | Skr-2.28 Billion | -6.76% |
| Other Changes | Skr168.00 Million | +0.5% |
| Total Change | Skr- | 0.60% |
Book Value vs Market Value Analysis
This analysis compares Pandox AB (publ)'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: 0.99x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.72x to 0.99x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | Skr62.89 | Skr171.20 | x |
| 2013-12-31 | Skr69.80 | Skr171.20 | x |
| 2014-12-31 | Skr69.34 | Skr171.20 | x |
| 2015-12-31 | Skr80.61 | Skr171.20 | x |
| 2016-12-31 | Skr100.36 | Skr171.20 | x |
| 2017-12-31 | Skr119.38 | Skr171.20 | x |
| 2018-12-31 | Skr127.63 | Skr171.20 | x |
| 2019-12-31 | Skr154.95 | Skr171.20 | x |
| 2020-12-31 | Skr129.89 | Skr171.20 | x |
| 2021-12-31 | Skr137.14 | Skr171.20 | x |
| 2022-12-31 | Skr167.47 | Skr171.20 | x |
| 2023-12-31 | Skr160.85 | Skr171.20 | x |
| 2024-12-31 | Skr179.42 | Skr171.20 | x |
| 2025-12-31 | Skr173.32 | Skr171.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pandox AB (publ) 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): 9.31%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 42.04%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 3.32x
- Recent ROE (9.31%) is above the historical average (8.67%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 5.28% | 17.90% | 0.10x | 2.91x | Skr-443.04 Million |
| 2013 | 9.09% | 32.72% | 0.10x | 2.67x | Skr-95.18 Million |
| 2014 | 12.04% | 40.73% | 0.11x | 2.62x | Skr212.55 Million |
| 2015 | 17.62% | 59.38% | 0.11x | 2.61x | Skr921.80 Million |
| 2016 | 14.59% | 55.79% | 0.10x | 2.55x | Skr692.90 Million |
| 2017 | 16.66% | 73.55% | 0.08x | 2.75x | Skr1.26 Billion |
| 2018 | 13.19% | 55.04% | 0.09x | 2.57x | Skr682.20 Million |
| 2019 | 10.27% | 48.73% | 0.08x | 2.49x | Skr71.00 Million |
| 2020 | -5.90% | -44.30% | 0.05x | 2.71x | Skr-3.80 Billion |
| 2021 | 2.42% | 18.64% | 0.05x | 2.65x | Skr-1.91 Billion |
| 2022 | 13.72% | 74.58% | 0.08x | 2.45x | Skr1.14 Billion |
| 2023 | -1.98% | -8.50% | 0.09x | 2.48x | Skr-3.54 Billion |
| 2024 | 5.04% | 23.67% | 0.09x | 2.41x | Skr-1.66 Billion |
| 2025 | 9.31% | 42.04% | 0.07x | 3.32x | Skr-232.90 Million |
Industry Comparison
This section compares Pandox AB (publ)'s net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $2,562,276,200
- Average return on equity (ROE) among peers: 11.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pandox AB (publ) (PNDX-B) | Skr34.94 Billion | 5.28% | 2.26x | $2.20 Billion |
| Annehem Fastigheter AB (ANNE-B) | $2.57 Billion | -0.17% | 1.06x | $138.88 Million |
| Bonasudden Holding AB (BONAS) | $344.71 Million | -5.31% | 1.35x | $28.93 Million |
| Brinova Fastigheter AB (publ) (BRIN-B) | $549.90 Million | 4.33% | 1.18x | $276.76 Million |
| Eastnine AB (publ) (EAST) | $478.51 Million | 22.69% | 0.75x | $470.34 Million |
| Fastighetsbolaget Emilshus AB (EMIL-B) | $5.13 Billion | 10.21% | 1.47x | $677.11 Million |
| Fabege AB (FABG) | $11.41 Billion | 15.87% | 1.78x | $2.61 Billion |
| Fastator AB (FASTAT) | $904.71 Million | 35.14% | 0.60x | $8.97 Million |
| Fleming Properties AB (FLMNG) | $60.53 Million | -6.96% | 0.98x | $38.03 Million |
| Fortinova Fastigheter AB Series B (FNOVA-B) | $2.44 Billion | 5.92% | 1.15x | $128.32 Million |
| Genova Property Group AB (GPG) | $1.73 Billion | 31.84% | 1.98x | $187.94 Million |
About Pandox AB (publ)
Pandox AB (publ) owns, develops, and leases hotel properties to skilled hotel operators under long-term, turnover based leases with minimum guaranteed levels. Since their inception in 1995, they have grown into one of the largest hotel property owners in Europe. Their portfolio consists of 193 hotel properties with approximately 43,000 rooms across 11 countries in Northern Europe. The portfolio m… Read more