Cognor S.A. (COG) - Net Assets

Latest as of March 2026: zł1.41 Billion PLN ≈ $387.42 Million USD

Based on the latest financial reports, Cognor S.A. (COG) has net assets worth zł1.41 Billion PLN (≈ $387.42 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 (zł2.87 Billion ≈ $791.07 Million USD) and total liabilities (zł1.47 Billion ≈ $403.65 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. Check Cognor S.A. strategic capital allocation to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł1.41 Billion
% of Total Assets	48.97%
Annual Growth Rate	10.63%
5-Year Change	118.65%
10-Year Change	803.0%
Growth Volatility	37.74

Cognor S.A. - Net Assets Trend (2008–2025)

This chart illustrates how Cognor S.A.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of Cognor S.A..

Annual Net Assets for Cognor S.A. (2008–2025)

The table below shows the annual net assets of Cognor S.A. from 2008 to 2025. Also explore net asset momentum of Cognor S.A. to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	zł1.41 Billion ≈ $387.45 Million	+19.35%
2024-12-31	zł1.18 Billion ≈ $324.62 Million	-4.97%
2023-12-31	zł1.24 Billion ≈ $341.60 Million	+1.04%
2022-12-31	zł1.23 Billion ≈ $338.08 Million	+90.79%
2021-12-31	zł643.87 Million ≈ $177.20 Million	+109.72%
2020-12-31	zł307.01 Million ≈ $84.49 Million	+10.76%
2019-12-31	zł277.19 Million ≈ $76.29 Million	-6.32%
2018-12-31	zł295.88 Million ≈ $81.43 Million	+22.35%
2017-12-31	zł241.83 Million ≈ $66.56 Million	+55.12%
2016-12-31	zł155.90 Million ≈ $42.91 Million	-7.58%
2015-12-31	zł168.69 Million ≈ $46.43 Million	-9.93%
2014-12-31	zł187.29 Million ≈ $51.54 Million	+45.03%
2013-12-31	zł129.13 Million ≈ $35.54 Million	-26.98%
2012-12-31	zł176.84 Million ≈ $48.67 Million	+0.23%
2011-12-31	zł176.44 Million ≈ $48.56 Million	-10.16%
2010-12-31	zł196.39 Million ≈ $54.05 Million	-30.92%
2009-12-31	zł284.29 Million ≈ $78.24 Million	+12.40%
2008-12-31	zł252.93 Million ≈ $69.61 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Cognor S.A.'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 7869300000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	zł347.13 Million	26.04%
Other Comprehensive Income	zł1.08 Billion	81.01%
Total Equity	zł1.33 Billion	100.00%

Cognor S.A. Competitors by Market Cap

The table below lists competitors of Cognor S.A. ranked by their market capitalization.

Company	Market Cap
Hangzhou Yitong New Material Co. LTD SHE:300930	$376.07 Million
D.B.Corp Limited NSE:DBCORP	$376.36 Million
Guangdong Songyang Recycle Resources Co Ltd SHG:603863	$376.43 Million
Fujian Oriental Silver Star Investment Co Ltd SHG:600753	$376.44 Million
Unifique Telecomunicações S.A. SA:FIQE3	$375.76 Million
Holsin Engineering Consulting SHG:603909	$375.73 Million
Beijing Capital International Airport Company Limited F:BJ1	$375.72 Million
Vigil Neuroscience Inc NASDAQ:VIGL	$375.71 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Cognor S.A.'s equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,103,921,000 to 1,333,225,000, a change of 229,304,000 (20.8%).
Net loss of 125,176,000 reduced equity.
New share issuances of 261,087,000 increased equity.
Other comprehensive income increased equity by 264,480,000.
Other factors decreased equity by 171,087,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	zł-125.18 Million	-9.39%
Share Issuances	zł261.09 Million	+19.58%
Other Comprehensive Income	zł264.48 Million	+19.84%
Other Changes	zł-171.09 Million	-12.83%
Total Change	zł-	20.77%

Book Value vs Market Value Analysis

This analysis compares Cognor S.A.'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: 0.78x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2008-12-31	zł7.19	zł5.90	x
2009-12-31	zł5.31	zł5.90	x
2010-12-31	zł3.20	zł5.90	x
2011-12-31	zł2.48	zł5.90	x
2012-12-31	zł2.48	zł5.90	x
2013-12-31	zł1.74	zł5.90	x
2014-12-31	zł1.52	zł5.90	x
2015-12-31	zł1.30	zł5.90	x
2016-12-31	zł1.31	zł5.90	x
2017-12-31	zł1.93	zł5.90	x
2018-12-31	zł1.83	zł5.90	x
2019-12-31	zł1.63	zł5.90	x
2020-12-31	zł1.68	zł5.90	x
2021-12-31	zł3.52	zł5.90	x
2022-12-31	zł6.74	zł5.90	x
2023-12-31	zł6.18	zł5.90	x
2024-12-31	zł6.44	zł5.90	x
2025-12-31	zł7.56	zł5.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Cognor S.A. 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): -9.39%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -6.02%
• Asset Turnover: 0.74x
• Equity Multiplier: 2.11x
Recent ROE (-9.39%) is below the historical average (4.91%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2008	-5.32%	-1.60%	2.21x	1.51x	zł-38.74 Million
2009	-13.26%	-3.99%	1.53x	2.18x	zł-66.41 Million
2010	-91.61%	-18.45%	2.70x	1.84x	zł-199.56 Million
2011	70.52%	7.47%	1.58x	5.96x	zł99.40 Million
2012	-0.27%	-0.03%	1.53x	5.58x	zł-16.84 Million
2013	-42.08%	-3.75%	1.42x	7.89x	zł-60.11 Million
2014	0.02%	0.00%	1.51x	5.66x	zł-16.57 Million
2015	-9.21%	-0.99%	1.61x	5.75x	zł-28.27 Million
2016	2.82%	0.30%	1.51x	6.30x	zł-10.20 Million
2017	21.12%	2.66%	1.88x	4.22x	zł25.07 Million
2018	24.64%	3.29%	2.08x	3.60x	zł40.72 Million
2019	7.38%	1.00%	1.81x	4.06x	zł-6.77 Million
2020	11.35%	1.89%	1.68x	3.58x	zł3.90 Million
2021	56.76%	12.19%	1.87x	2.49x	zł282.38 Million
2022	49.99%	15.76%	1.76x	1.80x	zł462.31 Million
2023	19.73%	8.42%	1.20x	1.96x	zł113.06 Million
2024	-4.89%	-2.35%	0.87x	2.38x	zł-164.36 Million
2025	-9.39%	-6.02%	0.74x	2.11x	zł-258.50 Million

Industry Comparison

This section compares Cognor S.A.'s net assets metrics with peer companies in the Steel industry.

Industry Context

Industry: Steel
Average net assets among peers: $140,282,693
Average return on equity (ROE) among peers: 31.26%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Cognor S.A. (COG)	zł1.41 Billion	-5.32%	1.04x	$375.77 Million
Bowim S.A. (BOW)	$326.93 Million	4.04%	0.74x	$35.56 Million
Izostal SA (IZS)	$140.28 Million	13.64%	0.94x	$28.39 Million
Stalprodukt SA (STP)	$104.26 Million	3.92%	2.15x	$309.52 Million
Zamet Industry SA (ZMT)	$124.03 Million	7.95%	0.46x	$16.56 Million
Zaklad Budowy Maszyn ZREMB-CHOJNICE S.A. (ZRE)	$5.92 Million	126.76%	3.21x	$33.83 Million

About Cognor S.A.

WAR:COG Poland Steel

Market Cap

$375.77 Million

zł1.37 Billion PLN

Market Cap Rank

#13890 Global

#78 in Poland

Share Price

zł5.90

Change (1 day)

+3.33%

52-Week Range

zł4.45 - zł8.00

All Time High

zł10.88