Gelex Group JSC (GEX) - Net Assets
Based on the latest financial reports, Gelex Group JSC (GEX) has net assets worth ₫30.17 Trillion VND (≈ $1.15 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫73.59 Trillion ≈ $2.80 Billion USD) and total liabilities (₫43.42 Trillion ≈ $1.65 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 financial resilience of Gelex Group JSC to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫30.17 Trillion |
| % of Total Assets | 41.0% |
| Annual Growth Rate | 23.08% |
| 5-Year Change | 47.21% |
| 10-Year Change | N/A |
| Growth Volatility | 54.06 |
Gelex Group JSC - Net Assets Trend (2019–2025)
This chart illustrates how Gelex Group JSC's net assets have evolved over time, based on quarterly financial data. Also explore Gelex Group JSC assets under control for the complete picture of this company's asset base.
Annual Net Assets for Gelex Group JSC (2019–2025)
The table below shows the annual net assets of Gelex Group JSC from 2019 to 2025. For live valuation and market cap data, see Gelex Group JSC (GEX) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫30.17 Trillion ≈ $1.15 Billion |
+29.75% |
| 2024-12-31 | ₫23.26 Trillion ≈ $883.57 Million |
+9.57% |
| 2023-12-31 | ₫21.22 Trillion ≈ $806.37 Million |
+0.86% |
| 2022-12-31 | ₫21.04 Trillion ≈ $799.52 Million |
+2.66% |
| 2021-12-31 | ₫20.50 Trillion ≈ $778.79 Million |
+149.51% |
| 2020-12-31 | ₫8.22 Trillion ≈ $312.13 Million |
-5.32% |
| 2019-12-31 | ₫8.68 Trillion ≈ $329.67 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Gelex Group JSC'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 482.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫7.26 Trillion | 40.77% |
| Other Components | ₫10.55 Trillion | 59.23% |
| Total Equity | ₫17.82 Trillion | 100.00% |
Gelex Group JSC Competitors by Market Cap
The table below lists competitors of Gelex Group JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Land and Houses Public Company Limited
BK:LH
|
$1.34 Billion |
|
Inox Wind Energy Limited
NSE:IWEL
|
$1.34 Billion |
|
UMH Properties Inc
NYSE:UMH
|
$1.34 Billion |
|
VGI Public Company Limited
BK:VGI-R
|
$1.34 Billion |
|
Jiangsu Yinhe Electronics Co Ltd
SHE:002519
|
$1.34 Billion |
|
Clariane SE
PA:CLARI
|
$1.34 Billion |
|
Dorchester Minerals LP
NASDAQ:DMLP
|
$1.34 Billion |
|
Guangdong Shenglu Telecommunication Tech Co Ltd
SHE:002446
|
$1.34 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gelex Group JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,988,801,388,572 to 17,816,058,471,373, a change of 3,827,257,082,801 (27.4%).
- Net income of 1,477,891,529,178 contributed positively to equity growth.
- Dividend payments of 2,356,843,595,174 reduced retained earnings.
- New share issuances of 1,052,227,700,000 increased equity.
- Other factors increased equity by 3,653,981,448,797.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫1.48 Trillion | +8.3% |
| Dividends Paid | ₫2.36 Trillion | -13.23% |
| Share Issuances | ₫1.05 Trillion | +5.91% |
| Other Changes | ₫3.65 Trillion | +20.51% |
| Total Change | ₫- | 27.36% |
Book Value vs Market Value Analysis
This analysis compares Gelex Group JSC'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: 1.98x
- 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 4.09x to 1.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫9562.07 | ₫39100.00 | x |
| 2020-12-31 | ₫10401.30 | ₫39100.00 | x |
| 2021-12-31 | ₫14139.01 | ₫39100.00 | x |
| 2022-12-31 | ₫14183.34 | ₫39100.00 | x |
| 2023-12-31 | ₫14506.65 | ₫39100.00 | x |
| 2024-12-31 | ₫16276.84 | ₫39100.00 | x |
| 2025-12-31 | ₫19743.00 | ₫39100.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gelex Group JSC 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): 8.30%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.74%
- • Asset Turnover: 0.54x
- • Equity Multiplier: 4.13x
- Recent ROE (8.30%) is above the historical average (7.99%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 9.95% | 4.14% | 0.72x | 3.33x | ₫-3.48 Billion |
| 2020 | 11.70% | 4.47% | 0.66x | 3.96x | ₫116.45 Billion |
| 2021 | 8.63% | 3.63% | 0.47x | 5.08x | ₫-165.23 Billion |
| 2022 | 3.05% | 1.15% | 0.61x | 4.34x | ₫-838.79 Billion |
| 2023 | 2.67% | 1.10% | 0.54x | 4.46x | ₫-904.88 Billion |
| 2024 | 11.66% | 4.83% | 0.63x | 3.85x | ₫232.42 Billion |
| 2025 | 8.30% | 3.74% | 0.54x | 4.13x | ₫-303.71 Billion |
Industry Comparison
This section compares Gelex Group JSC's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $989,925,796,750
- Average return on equity (ROE) among peers: 13.66%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gelex Group JSC (GEX) | ₫30.17 Trillion | 9.95% | 1.44x | $1.34 Billion |
| Dien Quang JSC (DQC) | $900.54 Billion | -3.82% | 0.60x | $12.77 Million |
| Rangdong Light source and Vacuum flask JSC (RAL) | $1.08 Trillion | 31.14% | 2.73x | $77.92 Million |
About Gelex Group JSC
GELEX Group Joint Stock Company primarily engages in the production and sale of electrical equipment principally in Vietnam. The company operates through Electrical Equipment, Industrial Parks and Real Estate, Construction Material, Utilities, and Others segments. It also offers power cables, transformers, motors, and electrical measuring equipment. In addition, the company develops real estate p… Read more