Thule Group AB (THULE) - Net Assets

Latest as of December 2025: Skr7.23 Billion SEK

Based on the latest financial reports, Thule Group AB (THULE) has net assets worth Skr7.23 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 (Skr13.74 Billion) and total liabilities (Skr6.51 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	Skr7.23 Billion
% of Total Assets	52.6%
Annual Growth Rate	10.44%
5-Year Change	24.28%
10-Year Change	88.92%
Growth Volatility	15.53

Thule Group AB - Net Assets Trend (2000–2025)

This chart illustrates how Thule 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 Thule Group AB (2000–2025)

The table below shows the annual net assets of Thule Group AB from 2000 to 2025.

Year	Net Assets	Change
2025-12-31	Skr7.23 Billion	-10.71%
2024-12-31	Skr8.10 Billion	+18.19%
2023-12-31	Skr6.85 Billion	+4.52%
2022-12-31	Skr6.55 Billion	+12.67%
2021-12-31	Skr5.82 Billion	+10.72%
2020-12-31	Skr5.25 Billion	+21.32%
2019-12-31	Skr4.33 Billion	+7.93%
2018-12-31	Skr4.01 Billion	+15.72%
2017-12-31	Skr3.47 Billion	-9.38%
2016-12-31	Skr3.83 Billion	+18.53%
2015-12-31	Skr3.23 Billion	+8.83%
2014-12-31	Skr2.97 Billion	+64.59%
2013-12-31	Skr1.80 Billion	+7.39%
2012-12-31	Skr1.68 Billion	+8.96%
2011-12-31	Skr1.54 Billion	+14.84%
2010-12-31	Skr1.34 Billion	+15.01%
2009-12-31	Skr1.17 Billion	-3.16%
2006-12-31	Skr1.20 Billion	+21.86%
2005-12-31	Skr988.00 Million	-7.23%
2004-12-31	Skr1.06 Billion	+39.03%
2003-12-31	Skr766.00 Million	+5.95%
2002-12-31	Skr723.00 Million	+6.32%
2001-12-31	Skr680.00 Million	+12.58%
2000-12-31	Skr604.00 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Thule 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 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	Skr7.23 Billion	100.00%
Total Equity	Skr7.23 Billion	100.00%

Thule Group AB Competitors by Market Cap

The table below lists competitors of Thule Group AB ranked by their market capitalization.

Company	Market Cap
Jiangsu Leili Motor Corp Ltd SHE:300660	$2.88 Billion
Netcompany Group A/S CO:NETC	$2.88 Billion
Dream Industrial Real Estate Investment Trust TO:DIR-UN	$2.88 Billion
Sinocelltech Group Ltd SHG:688520	$2.88 Billion
WD-40 Company NASDAQ:WDFC	$2.88 Billion
Home Depot Inc. CEDEAR BA:HD	$2.88 Billion
Q2 Holdings NYSE:QTWO	$2.87 Billion
Koza Altin Isletmeleri AS IS:KOZAL	$2.87 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Thule Group AB's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 8,095,000,000 to 7,228,000,000, a change of -867,000,000 (-10.7%).
Net income of 1,114,000,000 contributed positively to equity growth.
Dividend payments of 895,000,000 reduced retained earnings.
Share repurchases of 9,000,000 reduced equity.
New share issuances of 9,000,000 increased equity.
Other comprehensive income decreased equity by 1,078,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Skr1.11 Billion	+15.41%
Dividends Paid	Skr895.00 Million	-12.38%
Share Repurchases	Skr9.00 Million	-0.12%
Share Issuances	Skr9.00 Million	+0.12%
Other Comprehensive Income	Skr-1.08 Billion	-14.91%
Other Changes	Skr-8.00 Million	-0.11%
Total Change	Skr-	-10.71%

Book Value vs Market Value Analysis

This analysis compares Thule 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: 3.70x
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 13.63x to 3.70x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2011-12-31	Skr18.20	Skr248.00	x
2012-12-31	Skr19.80	Skr248.00	x
2013-12-31	Skr21.27	Skr248.00	x
2014-12-31	Skr29.47	Skr248.00	x
2015-12-31	Skr32.08	Skr248.00	x
2016-12-31	Skr37.58	Skr248.00	x
2017-12-31	Skr33.80	Skr248.00	x
2018-12-31	Skr38.91	Skr248.00	x
2019-12-31	Skr41.90	Skr248.00	x
2020-12-31	Skr50.52	Skr248.00	x
2021-12-31	Skr55.09	Skr248.00	x
2022-12-31	Skr62.30	Skr248.00	x
2023-12-31	Skr65.06	Skr248.00	x
2024-12-31	Skr76.43	Skr248.00	x
2025-12-31	Skr67.05	Skr248.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Thule 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): 15.41%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 10.68%
• Asset Turnover: 0.76x
• Equity Multiplier: 1.90x
Recent ROE (15.41%) is below the historical average (15.99%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	14.30%	5.34%	0.49x	5.51x	Skr66.20 Million
2012	16.02%	6.14%	0.52x	4.98x	Skr100.70 Million
2013	3.45%	1.43%	0.54x	4.47x	Skr-117.70 Million
2014	-4.72%	-2.98%	0.68x	2.34x	Skr-436.60 Million
2015	13.75%	8.35%	0.77x	2.14x	Skr121.20 Million
2016	17.67%	12.05%	0.71x	2.06x	Skr293.40 Million
2017	20.39%	12.04%	0.81x	2.10x	Skr360.30 Million
2018	20.86%	12.91%	0.84x	1.92x	Skr435.80 Million
2019	20.39%	12.55%	0.85x	1.91x	Skr450.00 Million
2020	22.20%	14.90%	0.93x	1.61x	Skr640.70 Million
2021	30.78%	17.23%	1.02x	1.75x	Skr1.21 Billion
2022	19.46%	12.58%	0.87x	1.78x	Skr619.70 Million
2023	16.05%	12.03%	0.83x	1.60x	Skr414.10 Million
2024	13.86%	11.76%	0.64x	1.85x	Skr312.50 Million
2025	15.41%	10.68%	0.76x	1.90x	Skr391.20 Million

Industry Comparison

This section compares Thule Group AB's net assets metrics with peer companies in the Leisure industry.

Industry Context

Industry: Leisure
Average net assets among peers: $2,973,394,750
Average return on equity (ROE) among peers: 22.90%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Thule Group AB (THULE)	Skr7.23 Billion	14.30%	0.90x	$2.88 Billion
Financière Amuse TopCo SAS (ASMDEE-B)	$2.18 Billion	4.97%	0.79x	$2.94 Billion
Actic Group AB (ATIC)	$278.04 Million	2.98%	5.38x	$82.89 Million
Dometic Group AB (publ) (DOM)	$20.93 Billion	2.04%	1.19x	$1.08 Billion
MIPS AB (MIPS)	$41.55 Million	45.20%	0.31x	$793.11 Million
Profoto Holding AB (PRFO)	$200.00 Million	74.00%	1.37x	$33.83 Million
Soder Sportfiske AB (SODER)	$32.64 Million	44.42%	0.74x	$17.11 Million
USWE Sports AB (USWE)	$69.41 Million	-20.70%	0.59x	$9.45 Million
Unlimited Travel Group UTG AB (publ) (UTG)	$53.67 Million	30.28%	2.45x	$27.33 Million

About Thule Group AB

ST:THULE Sweden Leisure

Market Cap

$2.88 Billion

Skr26.74 Billion SEK

Market Cap Rank

#5033 Global

#54 in Sweden

Share Price

Skr248.00

Change (1 day)

+4.55%

52-Week Range

Skr189.30 - Skr291.80

All Time High

Skr494.98