PAN Group JSC
The PAN Group Joint Stock Company engages in agricultural, food, financial investment, and other related activities in Vietnam and internationally. The company is involved in the mixed crop and livestock farming; cultivation, processing, and trading of agricultural, forestry, and aquatic products; food trading investment consulting activities; cultivation, processing, and preservation of aquatic … Read more
PAN Group JSC (PAN) - Net Assets
Latest net assets as of December 2025: ₫9.08 Trillion VND
Based on the latest financial reports, PAN Group JSC (PAN) has net assets worth ₫9.08 Trillion VND as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫15.71 Trillion) and total liabilities (₫6.62 Trillion). 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 | ₫9.08 Trillion |
| % of Total Assets | 57.84% |
| Annual Growth Rate | 6.73% |
| 5-Year Change | 19.85% |
| 10-Year Change | N/A |
| Growth Volatility | 7.34 |
PAN Group JSC - Net Assets Trend (2019–2025)
This chart illustrates how PAN Group JSC's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for PAN Group JSC (2019–2025)
The table below shows the annual net assets of PAN Group JSC from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫9.08 Trillion | +2.54% |
| 2024-12-31 | ₫8.86 Trillion | +6.18% |
| 2023-12-31 | ₫8.34 Trillion | +5.90% |
| 2022-12-31 | ₫7.88 Trillion | +3.94% |
| 2021-12-31 | ₫7.58 Trillion | +22.78% |
| 2020-12-31 | ₫6.17 Trillion | +0.45% |
| 2019-12-31 | ₫6.15 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to PAN 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 172.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫1.92 Trillion | 35.92% |
| Other Components | ₫3.42 Trillion | 64.08% |
| Total Equity | ₫5.34 Trillion | 100.00% |
PAN Group JSC Competitors by Market Cap
The table below lists competitors of PAN Group JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Duzhe Publishing & Media Corp
SHG:603999
|
$231.98 Million |
|
APAQ Technology Co Ltd
TW:6449
|
$232.04 Million |
|
Citi Trends Inc
NASDAQ:CTRN
|
$232.07 Million |
|
Mo-Bruk SA
WAR:MBR
|
$232.09 Million |
|
Taimide Tech Inc
TW:3645
|
$231.88 Million |
|
Worldex Industry & Trading Co. Ltd
KQ:101160
|
$231.87 Million |
|
ARTS Group Co Ltd
SHG:603017
|
$231.84 Million |
|
Hillstone Networks Co Ltd
SHG:688030
|
$231.84 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in PAN Group JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,069,986,968,265 to 5,341,442,371,194, a change of 271,455,402,929 (5.4%).
- Net income of 672,230,327,610 contributed positively to equity growth.
- Dividend payments of 381,674,047,515 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫672.23 Billion | +12.59% |
| Dividends Paid | ₫381.67 Billion | -7.15% |
| Other Changes | ₫-19.10 Billion | -0.36% |
| Total Change | ₫- | 5.35% |
Book Value vs Market Value Analysis
This analysis compares PAN 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: 1.27x
- 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 1.85x to 1.27x 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 | ₫17512.14 | ₫32400.00 | x |
| 2020-12-31 | ₫17910.07 | ₫32400.00 | x |
| 2021-12-31 | ₫19754.55 | ₫32400.00 | x |
| 2022-12-31 | ₫21504.25 | ₫32400.00 | x |
| 2023-12-31 | ₫22917.60 | ₫32400.00 | x |
| 2024-12-31 | ₫24270.53 | ₫32400.00 | x |
| 2025-12-31 | ₫25570.02 | ₫32400.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently PAN 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): 12.59%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.82%
- • Asset Turnover: 1.12x
- • Equity Multiplier: 2.94x
- Recent ROE (12.59%) is above the historical average (8.63%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 6.79% | 3.29% | 0.73x | 2.84x | ₫-121.41 Billion |
| 2020 | 5.03% | 2.26% | 0.73x | 3.03x | ₫-185.83 Billion |
| 2021 | 7.18% | 3.20% | 0.62x | 3.64x | ₫-116.52 Billion |
| 2022 | 8.32% | 2.74% | 0.85x | 3.58x | ₫-75.24 Billion |
| 2023 | 8.48% | 3.07% | 0.65x | 4.22x | ₫-72.82 Billion |
| 2024 | 12.01% | 3.76% | 0.68x | 4.70x | ₫101.89 Billion |
| 2025 | 12.59% | 3.82% | 1.12x | 2.94x | ₫138.09 Billion |
Industry Comparison
This section compares PAN Group JSC's net assets metrics with peer companies in the Farm Products industry.
Industry Context
- Industry: Farm Products
- Average net assets among peers: $2,842,114,239,562
- Average return on equity (ROE) among peers: 0.56%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| PAN Group JSC (PAN) | ₫9.08 Trillion | 6.79% | 0.73x | $231.96 Million |
| Nam Viet Corp (ANV) | $2.88 Trillion | 23.38% | 0.90x | $223.17 Million |
| BAF Viet Nam Agriculture JSC (BAF) | $1.91 Trillion | 1.38% | 2.42x | $231.66 Million |
| Dabaco (DBC) | $4.64 Trillion | 0.11% | 1.80x | $292.30 Million |
| Hoang Anh Gia Lai Agricultural JSC (HNG) | $2.26 Trillion | -48.70% | 5.25x | $240.20 Million |
| Vietnam National Seed Group JSC (NSC) | $1.45 Trillion | 15.46% | 0.54x | $50.15 Million |
| Phuoc Hoa Rubber JSC (PHR) | $3.92 Trillion | 11.74% | 0.51x | $304.51 Million |