Ferro S.A. (FRO) - Net Assets

Latest as of December 2025: zł461.86 Million PLN ≈ $127.11 Million USD

Based on the latest financial reports, Ferro S.A. (FRO) has net assets worth zł461.86 Million PLN (≈ $127.11 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (zł734.37 Million ≈ $202.11 Million USD) and total liabilities (zł272.51 Million ≈ $75.00 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 FRO tangible net worth ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł461.86 Million
% of Total Assets	62.89%
Annual Growth Rate	15.35%
5-Year Change	15.38%
10-Year Change	116.16%
Growth Volatility	39.22

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

This chart illustrates how Ferro S.A.'s net assets have evolved over time, based on quarterly financial data. See Ferro S.A. defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

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

The table below shows the annual net assets of Ferro S.A. from 2008 to 2025. For live valuation and market cap data, see Ferro S.A. market capitalisation.

Year	Net Assets	Change
2025-12-31	zł461.86 Million ≈ $127.11 Million	+1.91%
2024-12-31	zł453.20 Million ≈ $124.73 Million	-0.60%
2023-12-31	zł455.94 Million ≈ $125.48 Million	+2.39%
2022-12-31	zł445.28 Million ≈ $122.55 Million	+11.24%
2021-12-31	zł400.30 Million ≈ $110.17 Million	+27.80%
2020-12-31	zł313.21 Million ≈ $86.20 Million	+25.13%
2019-12-31	zł250.32 Million ≈ $68.89 Million	+7.34%
2018-12-31	zł233.20 Million ≈ $64.18 Million	+17.59%
2017-12-31	zł198.32 Million ≈ $54.58 Million	-7.19%
2016-12-31	zł213.67 Million ≈ $58.81 Million	+10.11%
2015-12-31	zł194.05 Million ≈ $53.40 Million	+2.63%
2014-12-31	zł189.07 Million ≈ $52.04 Million	+2.19%
2013-12-31	zł185.02 Million ≈ $50.92 Million	+2.78%
2012-12-31	zł180.02 Million ≈ $49.54 Million	+1.42%
2011-12-31	zł177.50 Million ≈ $48.85 Million	+168.09%
2010-12-31	zł66.21 Million ≈ $18.22 Million	+45.67%
2009-12-31	zł45.45 Million ≈ $12.51 Million	+11.44%
2008-12-31	zł40.79 Million ≈ $11.23 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Ferro 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 grown by 1002.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	zł342.77 Million	74.97%
Other Components	zł114.42 Million	25.03%
Total Equity	zł457.18 Million	100.00%

Ferro S.A. Competitors by Market Cap

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

Company	Market Cap
GRAPHENE MANUFACT.GROUP F:0GF	$185.36 Million
LVMC Holdings KO:900140	$185.40 Million
Doktas Dokumculuk Ticaret ve Sanayi AS IS:DOKTA	$185.48 Million
Kao Hsiung Chang Iron & Steel Corp TW:2008	$185.50 Million
Fanhua Inc. NASDAQ:AIFU	$185.32 Million
Dynamix Corporation Class A Ordinary Shares NASDAQ:DYNX	$185.26 Million
Tele2 AB (publ) ST:TEL2-A	$185.19 Million
EKOS IS:EKOS	$185.13 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 448,744,000 to 457,184,000, a change of 8,440,000 (1.9%).
Net income of 68,465,000 contributed positively to equity growth.
Dividend payments of 66,702,000 reduced retained earnings.
Other comprehensive income decreased equity by 4,124,000.
Other factors increased equity by 10,801,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	zł68.47 Million	+14.98%
Dividends Paid	zł66.70 Million	-14.59%
Other Comprehensive Income	zł-4.12 Million	-0.9%
Other Changes	zł10.80 Million	+2.36%
Total Change	zł-	1.88%

Book Value vs Market Value Analysis

This analysis compares Ferro 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: 1.47x
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 7.37x to 1.47x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2008-12-31	zł4.30	zł31.70	x
2009-12-31	zł4.78	zł31.70	x
2010-12-31	zł6.29	zł31.70	x
2011-12-31	zł9.67	zł31.70	x
2012-12-31	zł8.50	zł31.70	x
2013-12-31	zł8.79	zł31.70	x
2014-12-31	zł8.90	zł31.70	x
2015-12-31	zł9.13	zł31.70	x
2016-12-31	zł10.06	zł31.70	x
2017-12-31	zł9.34	zł31.70	x
2018-12-31	zł10.98	zł31.70	x
2019-12-31	zł11.78	zł31.70	x
2020-12-31	zł14.74	zł31.70	x
2021-12-31	zł18.19	zł31.70	x
2022-12-31	zł20.66	zł31.70	x
2023-12-31	zł21.24	zł31.70	x
2024-12-31	zł21.12	zł31.70	x
2025-12-31	zł21.52	zł31.70	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ferro 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): 14.98%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 9.07%
• Asset Turnover: 1.03x
• Equity Multiplier: 1.61x
Recent ROE (14.98%) is below the historical average (15.64%), 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	26.73%	7.14%	1.32x	2.83x	zł6.83 Million
2009	23.62%	7.18%	1.45x	2.27x	zł6.20 Million
2010	15.42%	6.16%	1.30x	1.93x	zł3.59 Million
2011	10.20%	6.97%	0.75x	1.96x	zł362.71K
2012	9.67%	6.30%	0.80x	1.91x	zł-596.33K
2013	11.79%	8.07%	0.83x	1.76x	zł3.30 Million
2014	12.69%	8.86%	0.84x	1.70x	zł5.09 Million
2015	11.49%	7.63%	0.91x	1.65x	zł2.90 Million
2016	13.61%	8.75%	0.97x	1.60x	zł7.72 Million
2017	5.58%	3.03%	1.00x	1.84x	zł-8.77 Million
2018	16.17%	9.30%	1.04x	1.68x	zł14.39 Million
2019	15.98%	8.86%	1.10x	1.64x	zł14.97 Million
2020	19.82%	11.96%	1.02x	1.63x	zł30.76 Million
2021	27.91%	12.98%	1.17x	1.84x	zł69.18 Million
2022	14.90%	7.15%	1.21x	1.72x	zł21.53 Million
2023	14.86%	8.35%	1.04x	1.70x	zł21.92 Million
2024	16.10%	9.22%	1.04x	1.68x	zł27.35 Million
2025	14.98%	9.07%	1.03x	1.61x	zł22.75 Million

Industry Comparison

This section compares Ferro S.A.'s net assets metrics with peer companies in the Building Products & Equipment industry.

Industry Context

Industry: Building Products & Equipment
Average net assets among peers: $264,878,006
Average return on equity (ROE) among peers: 25.43%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ferro S.A. (FRO)	zł461.86 Million	26.73%	0.59x	$185.33 Million
Libet S.A. (LBT)	$95.31 Million	42.96%	3.02x	$14.87 Million
Zakłady Lentex SA (LTX)	$434.44 Million	7.90%	0.44x	$67.15 Million

About Ferro S.A.

WAR:FRO Poland Building Products & Equipment

Market Cap

$185.33 Million

zł673.39 Million PLN

Market Cap Rank

#16940 Global

#111 in Poland

Share Price

zł31.70

Change (1 day)

+2.59%

52-Week Range

zł26.50 - zł38.50

All Time High

zł38.50