Masan Group Corp (MSN) - Net Assets
Based on the latest financial reports, Masan Group Corp (MSN) has net assets worth ₫41.64 Trillion VND (≈ $1.58 Billion USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫123.47 Trillion ≈ $4.69 Billion USD) and total liabilities (₫81.82 Trillion ≈ $3.11 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 MSN cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫41.64 Trillion |
| % of Total Assets | 33.73% |
| Annual Growth Rate | -4.71% |
| 5-Year Change | 62.81% |
| 10-Year Change | N/A |
| Growth Volatility | 39.14 |
Masan Group Corp - Net Assets Trend (2019–2024)
This chart illustrates how Masan Group Corp's net assets have evolved over time, based on quarterly financial data. Also explore Masan Group Corp asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Masan Group Corp (2019–2024)
The table below shows the annual net assets of Masan Group Corp from 2019 to 2024. For live valuation and market cap data, see Masan Group Corp stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₫40.75 Trillion ≈ $1.55 Billion |
+6.58% |
| 2023-12-31 | ₫38.24 Trillion ≈ $1.45 Billion |
+4.37% |
| 2022-12-31 | ₫36.64 Trillion ≈ $1.39 Billion |
-13.46% |
| 2021-12-31 | ₫42.34 Trillion ≈ $1.61 Billion |
+69.14% |
| 2020-12-31 | ₫25.03 Trillion ≈ $951.00 Million |
-51.76% |
| 2019-12-31 | ₫51.89 Trillion ≈ $1.97 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Masan Group Corp'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 67.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫9.33 Trillion | 30.84% |
| Other Components | ₫20.92 Trillion | 69.16% |
| Total Equity | ₫30.24 Trillion | 100.00% |
Masan Group Corp Competitors by Market Cap
The table below lists competitors of Masan Group Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DB HiTek Co Ltd
KO:000990
|
$4.23 Billion |
|
Stepstone Group Inc
NASDAQ:STEP
|
$4.23 Billion |
|
Vale Indonesia Tbk
JK:INCO
|
$4.23 Billion |
|
Beijing Tricolor Technology Co Ltd
SHG:603516
|
$4.23 Billion |
|
TFS Financial Corporation
NASDAQ:TFSL
|
$4.22 Billion |
|
GCL Energy Technology Co Ltd
SHE:002015
|
$4.22 Billion |
|
Bidvest Group Ltd
JSE:BVT
|
$4.21 Billion |
|
Edenred SA
PA:EDEN
|
$4.21 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Masan Group Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 26,559,580,000,000 to 30,242,032,000,000, a change of 3,682,452,000,000 (13.9%).
- Net income of 1,999,059,000,000 contributed positively to equity growth.
- Dividend payments of 1,721,291,000,000 reduced retained earnings.
- New share issuances of 6,411,786,000,000 increased equity.
- Other factors decreased equity by 3,007,102,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫2.00 Trillion | +6.61% |
| Dividends Paid | ₫1.72 Trillion | -5.69% |
| Share Issuances | ₫6.41 Trillion | +21.2% |
| Other Changes | ₫-3.01 Trillion | -9.94% |
| Total Change | ₫- | 13.86% |
Book Value vs Market Value Analysis
This analysis compares Masan Group Corp'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: 3.65x
- 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 increased from 2.52x to 3.65x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫30497.63 | ₫76800.00 | x |
| 2020-12-31 | ₫11306.34 | ₫76800.00 | x |
| 2021-12-31 | ₫23161.10 | ₫76800.00 | x |
| 2022-12-31 | ₫18369.17 | ₫76800.00 | x |
| 2023-12-31 | ₫18562.18 | ₫76800.00 | x |
| 2024-12-31 | ₫21025.48 | ₫76800.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Masan Group Corp 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): 6.61%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.40%
- • Asset Turnover: 0.56x
- • Equity Multiplier: 4.88x
- Recent ROE (6.61%) is below the historical average (11.44%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 12.99% | 14.88% | 0.38x | 2.27x | ₫1.28 Trillion |
| 2020 | 7.74% | 1.60% | 0.67x | 7.26x | ₫-359.78 Billion |
| 2021 | 26.10% | 9.66% | 0.70x | 3.84x | ₫5.28 Trillion |
| 2022 | 13.64% | 4.68% | 0.54x | 5.40x | ₫951.73 Billion |
| 2023 | 1.58% | 0.54% | 0.53x | 5.55x | ₫-2.24 Trillion |
| 2024 | 6.61% | 2.40% | 0.56x | 4.88x | ₫-1.03 Trillion |
Industry Comparison
This section compares Masan Group Corp's net assets metrics with peer companies in the Conglomerates industry.
Industry Context
- Industry: Conglomerates
- Average net assets among peers: $11,996,392,782,742
- Average return on equity (ROE) among peers: -13.64%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Masan Group Corp (MSN) | ₫41.64 Trillion | 12.99% | 1.96x | $4.22 Billion |
| Bamboo Capital JSC (BCG) | $55.58 Trillion | 1.10% | 0.00x | $84.61 Million |
| Duc Long Gia Lai Group JSC (DLG) | $1.11 Trillion | -109.95% | 4.06x | $31.39 Million |
| Ocean Group JSC (OGC) | $1.06 Trillion | 3.80% | 1.81x | $34.19 Million |
| Phu Tai JSC (PTB) | $1.99 Trillion | 18.01% | 1.40x | $146.02 Million |
| Sam Holdings Corp (SAM) | $4.60 Trillion | 0.06% | 0.57x | $97.59 Million |
| Vietnam Construction and Import Export JSC (VCG) | $7.63 Trillion | 5.17% | 3.06x | $544.05 Million |
About Masan Group Corp
Masan Group Corporation, an investment holding company, manufactures and distributes food and beverage products in Vietnam and internationally. It operates in five segments: Branded Consumer Products; MEATLife; High-Tech Materials; Consumer Retail; and Others. The company offers soya sauce, fish sauce, seasoning, chili sauce, instant noodles, instant congee, instant coffee, instant cereals, bottl… Read more