XSpray Pharma AB (XSPRAY) - Net Assets

Latest as of March 2026: Skr569.36 Million SEK ≈ $61.27 Million USD

Based on the latest financial reports, XSpray Pharma AB (XSPRAY) has net assets worth Skr569.36 Million SEK (≈ $61.27 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr736.39 Million ≈ $79.25 Million USD) and total liabilities (Skr167.03 Million ≈ $17.98 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. Also explore how large is XSpray Pharma AB's balance sheet for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Skr569.36 Million
% of Total Assets	77.32%
Annual Growth Rate	47.66%
5-Year Change	2.18%
10-Year Change	1201.05%
Growth Volatility	99.01

XSpray Pharma AB - Net Assets Trend (2015–2025)

This chart illustrates how XSpray Pharma AB's net assets have evolved over time, based on quarterly financial data. Check XSpray Pharma AB (XSPRAY) tangible net worth to evaluate the tangible quality of the company's equity base.

Annual Net Assets for XSpray Pharma AB (2015–2025)

The table below shows the annual net assets of XSpray Pharma AB from 2015 to 2025. For live valuation and market cap data, see how much is XSpray Pharma AB worth.

Year	Net Assets	Change
2025-12-31	Skr604.65 Million ≈ $65.07 Million	-2.96%
2024-12-31	Skr623.10 Million ≈ $67.06 Million	-10.14%
2023-12-31	Skr693.41 Million ≈ $74.62 Million	+24.71%
2022-12-31	Skr556.02 Million ≈ $59.84 Million	-6.04%
2021-12-31	Skr591.75 Million ≈ $63.68 Million	+1.57%
2020-12-31	Skr582.59 Million ≈ $62.70 Million	+55.89%
2019-12-31	Skr373.71 Million ≈ $40.22 Million	+23.86%
2018-12-31	Skr301.72 Million ≈ $32.47 Million	+93.83%
2017-12-31	Skr155.66 Million ≈ $16.75 Million	+234.94%
2016-12-31	Skr46.47 Million ≈ $5.00 Million	+278.98%
2015-12-31	Skr12.26 Million ≈ $1.32 Million	--

Equity Component Analysis

This analysis shows how different components contribute to XSpray Pharma 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 12792.1% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	Skr41.74 Million	6.90%
Other Comprehensive Income	Skr553.00K	0.09%
Other Components	Skr1.57 Billion	260.32%
Total Equity	Skr604.65 Million	100.00%

XSpray Pharma AB Competitors by Market Cap

The table below lists competitors of XSpray Pharma AB ranked by their market capitalization.

Company	Market Cap
Lion Selection Group Ltd AU:LSX	$86.15 Million
MetaTech AP TWO:3224	$86.16 Million
Namsun Alumini KO:008350	$86.16 Million
IF Bancorp Inc NASDAQ:IROQ	$86.17 Million
K Laser Technology Inc TW:2461	$86.07 Million
Oroco Resource Corp V:OCO	$86.06 Million
Maywufa Co Ltd TW:1731	$86.05 Million
GIC Housing Finance Limited NSE:GICHSGFIN	$86.01 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 623,097,000 to 604,649,000, a change of -18,448,000 (-3.0%).
Net loss of 171,443,000 reduced equity.
Share repurchases of 41,000 reduced equity.
Other comprehensive income decreased equity by 445,000.
Other factors increased equity by 153,522,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Skr-171.44 Million	-28.35%
Share Repurchases	Skr41.00K	-0.01%
Other Comprehensive Income	Skr-445.00K	-0.07%
Other Changes	Skr153.52 Million	+25.39%
Total Change	Skr-	-2.96%

Book Value vs Market Value Analysis

This analysis compares XSpray Pharma 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: 1.07x
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 17.16x to 1.07x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2015-12-31	Skr0.98	Skr16.88	x
2016-12-31	Skr7.25	Skr16.88	x
2017-12-31	Skr18.36	Skr16.88	x
2018-12-31	Skr21.27	Skr16.88	x
2019-12-31	Skr24.34	Skr16.88	x
2020-12-31	Skr33.54	Skr16.88	x
2021-12-31	Skr30.48	Skr16.88	x
2022-12-31	Skr26.15	Skr16.88	x
2023-12-31	Skr26.07	Skr16.88	x
2024-12-31	Skr18.80	Skr16.88	x
2025-12-31	Skr15.72	Skr16.88	x

Capital Efficiency Dashboard

This dashboard shows how efficiently XSpray Pharma 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): -28.35%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 0.00%
• Asset Turnover: 0.00x
• Equity Multiplier: 1.27x
Recent ROE (-28.35%) is below the historical average (-25.88%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2015	-98.60%	-332.17%	0.24x	1.22x	Skr-13.32 Million
2016	-8.82%	-517.30%	0.02x	1.12x	Skr-8.74 Million
2017	-8.48%	-3980.86%	0.00x	1.04x	Skr-28.76 Million
2018	-7.66%	-8338.63%	0.00x	1.04x	Skr-53.27 Million
2019	-12.27%	0.00%	0.00x	1.07x	Skr-83.21 Million
2020	-8.98%	0.00%	0.00x	1.04x	Skr-110.56 Million
2021	-16.34%	0.00%	0.00x	1.05x	Skr-155.88 Million
2022	-23.43%	0.00%	0.00x	1.05x	Skr-185.87 Million
2023	-25.91%	0.00%	0.00x	1.10x	Skr-249.01 Million
2024	-45.82%	0.00%	0.00x	1.28x	Skr-347.83 Million
2025	-28.35%	0.00%	0.00x	1.27x	Skr-231.91 Million

Industry Comparison

This section compares XSpray Pharma AB's net assets metrics with peer companies in the Biotechnology industry.

Industry Context

Industry: Biotechnology
Average net assets among peers: $212,858,776
Average return on equity (ROE) among peers: -37.12%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
XSpray Pharma AB (XSPRAY)	Skr569.36 Million	-98.60%	0.29x	$86.13 Million
2cureX AB (2CUREX)	$7.91 Million	-8.20%	0.37x	$4.67 Million
Ascelia Pharma AB (publ) (ACE)	$111.73 Million	-21.83%	0.04x	$7.28 Million
AcouSort AB (ACOU)	$9.59 Million	-85.70%	0.37x	$8.04 Million
Active Biotech AB (ACTI)	$380.27 Million	-78.60%	0.23x	$103.60 Million
Alzinova AB (ALZ)	$88.47 Million	-8.57%	0.04x	$19.34 Million
AlzeCure Pharma (ALZCUR)	$182.01 Million	-28.02%	0.03x	$75.19 Million
Annexin Pharmaceuticals AB (ANNX)	$30.15 Million	-135.06%	0.22x	$9.31 Million
Alligator Bioscience AB (ATORX)	$41.44 Million	0.00%	0.15x	$2.89 Million
BioInvent International AB (BINV)	$230.44 Million	-27.16%	0.20x	$162.52 Million
BioArctic AB (publ) (BIOA-B)	$1.05 Billion	21.90%	0.13x	$2.60 Billion

About XSpray Pharma AB

ST:XSPRAY Sweden Biotechnology

Market Cap

$86.13 Million

Skr800.39 Million SEK

Market Cap Rank

#19655 Global

#348 in Sweden

Share Price

Skr16.88

Change (1 day)

+1.44%

52-Week Range

Skr14.50 - Skr63.40

All Time High

Skr258.00