Refine Group AB
Refine Group AB (publ) builds and develops brands in digital commerce in Sweden. The company offers a home furnishing e-tailer that sells Scandinavian design furniture under the Folkhemmet brand name. It also sells cosmetics and beauty products, which include eyebrow tints, gels, brushes, and other products under the Browgame brand name. In addition, the company offers digital services consisting… Read more
Refine Group AB (REFINE) - Net Assets
Latest net assets as of December 2025: Skr96.53 Million SEK
Based on the latest financial reports, Refine Group AB (REFINE) has net assets worth Skr96.53 Million SEK as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr145.05 Million) and total liabilities (Skr48.51 Million). 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 | Skr96.53 Million |
| % of Total Assets | 66.55% |
| Annual Growth Rate | 55.2% |
| 5-Year Change | 447.79% |
| 10-Year Change | N/A |
| Growth Volatility | 371.67 |
Refine Group AB - Net Assets Trend (2018–2025)
This chart illustrates how Refine Group 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 Refine Group AB (2018–2025)
The table below shows the annual net assets of Refine Group AB from 2018 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr96.53 Million | +25.09% |
| 2024-12-31 | Skr77.17 Million | -64.79% |
| 2023-12-31 | Skr219.17 Million | +14.63% |
| 2022-12-31 | Skr191.19 Million | +984.94% |
| 2021-12-31 | Skr17.62 Million | +100.61% |
| 2020-12-31 | Skr8.78 Million | +569.23% |
| 2019-12-31 | Skr1.31 Million | -70.50% |
| 2018-12-31 | Skr4.45 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Refine Group 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 grown by 446730800.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Skr14.85 Million | 15.49% |
| Other Components | Skr81.02 Million | 84.51% |
| Total Equity | Skr95.87 Million | 100.00% |
Refine Group AB Competitors by Market Cap
The table below lists competitors of Refine Group AB ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bonei Hatichon Civil Engineering and Infrastructures Ltd
TA:BOTI
|
$1.81 Million |
|
Mathios Refractories S.A.
AT:MATHIO
|
$1.81 Million |
|
Generation Income Properties Inc
NASDAQ:GIPR
|
$1.81 Million |
|
Kanani Industries Limited
NSE:KANANIIND
|
$1.81 Million |
|
MORNINGSTAR
BE:MRS
|
$1.81 Million |
|
Guardian Exploration Inc
OTCQB:GXUSF
|
$1.81 Million |
|
Mandala Multifinance Tbk
JK:MFIN
|
$1.81 Million |
|
DO & CO (DOQ.SG)
STU:DOQ
|
$1.81 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Refine Group AB's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 76,497,000 to 95,870,000, a change of 19,373,000 (25.3%).
- Net loss of 2,713,000 reduced equity.
- Other comprehensive income increased equity by 970,057,000.
- Other factors decreased equity by 947,971,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr-2.71 Million | -2.83% |
| Other Comprehensive Income | Skr970.06 Million | +1011.85% |
| Other Changes | Skr-947.97 Million | -988.81% |
| Total Change | Skr- | 25.33% |
Book Value vs Market Value Analysis
This analysis compares Refine Group 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: 0.22x
- 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 2.87x to 0.22x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | Skr0.08 | Skr0.23 | x |
| 2019-12-31 | Skr0.02 | Skr0.23 | x |
| 2020-12-31 | Skr0.16 | Skr0.23 | x |
| 2021-12-31 | Skr0.32 | Skr0.23 | x |
| 2022-12-31 | Skr3.44 | Skr0.23 | x |
| 2023-12-31 | Skr3.93 | Skr0.23 | x |
| 2024-12-31 | Skr1.13 | Skr0.23 | x |
| 2025-12-31 | Skr1.05 | Skr0.23 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Refine Group 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): -2.83%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.14%
- • Asset Turnover: 0.87x
- • Equity Multiplier: 1.51x
- Recent ROE (-2.83%) is above the historical average (-190.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | -89.62% | 0.00% | 0.00x | 1.24x | Skr-4.43 Million |
| 2019 | -701.43% | -8584.49% | 0.03x | 2.46x | Skr-9.34 Million |
| 2020 | -191.83% | -364.16% | 0.31x | 1.71x | Skr-17.73 Million |
| 2021 | -167.88% | -243.66% | 0.50x | 1.39x | Skr-31.35 Million |
| 2022 | -8.96% | -7.29% | 0.71x | 1.74x | Skr-35.89 Million |
| 2023 | -144.06% | -119.65% | 0.64x | 1.89x | Skr-334.72 Million |
| 2024 | -215.02% | -67.15% | 1.12x | 2.85x | Skr-172.13 Million |
| 2025 | -2.83% | -2.14% | 0.87x | 1.51x | Skr-12.30 Million |
Industry Comparison
This section compares Refine Group AB's net assets metrics with peer companies in the Internet Retail industry.
Industry Context
- Industry: Internet Retail
- Average net assets among peers: $580,113,000
- Average return on equity (ROE) among peers: -22.62%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Refine Group AB (REFINE) | Skr96.53 Million | -89.62% | 0.50x | $1.81 Million |
| New Bubbleroom Sweden AB (BBROOM) | $101.59 Million | -17.38% | 1.12x | $3.70 Million |
| BHG Group AB (publ) (BHG) | $2.93 Billion | 6.02% | 1.06x | $372.13 Million |
| Sweden BuyersClub AB (BUY) | $8.46 Million | -87.56% | 0.94x | $2.92K |
| Desenio Group AB (DSNO) | $360.10 Million | -77.28% | 1.75x | $7.63 Million |
| Guldbrev Holding AB (publ) (GULD) | $35.80 Million | 13.92% | 0.66x | $561.46K |
| Purefun Group AB (PURE) | $49.64 Million | 26.57% | 0.63x | $3.36 Million |