INC S.A. (INC) - Net Assets

Latest as of September 2025: zł19.86 Million PLN ≈ $5.47 Million USD

Based on the latest financial reports, INC S.A. (INC) has net assets worth zł19.86 Million PLN (≈ $5.47 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (zł25.95 Million ≈ $7.14 Million USD) and total liabilities (zł6.08 Million ≈ $1.67 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 INC S.A. (INC) asset resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł19.86 Million
% of Total Assets	76.55%
Annual Growth Rate	-5.14%
5-Year Change	-49.46%
10-Year Change	-43.31%
Growth Volatility	25.63

INC S.A. - Net Assets Trend (2008–2024)

This chart illustrates how INC S.A.'s net assets have evolved over time, based on quarterly financial data. Also explore INC S.A. balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for INC S.A. (2008–2024)

The table below shows the annual net assets of INC S.A. from 2008 to 2024. For live valuation and market cap data, see INC market cap.

Year	Net Assets	Change
2024-12-31	zł18.60 Million ≈ $5.12 Million	-25.61%
2023-12-31	zł25.01 Million ≈ $6.88 Million	-19.97%
2022-12-31	zł31.25 Million ≈ $8.60 Million	-25.40%
2021-12-31	zł41.88 Million ≈ $11.53 Million	+13.79%
2020-12-31	zł36.81 Million ≈ $10.13 Million	+62.34%
2019-12-31	zł22.68 Million ≈ $6.24 Million	-2.38%
2018-12-31	zł23.23 Million ≈ $6.39 Million	-14.85%
2017-12-31	zł27.28 Million ≈ $7.51 Million	-10.01%
2016-12-31	zł30.31 Million ≈ $8.34 Million	-7.61%
2015-12-31	zł32.81 Million ≈ $9.03 Million	+15.45%
2014-12-31	zł28.42 Million ≈ $7.82 Million	-19.93%
2013-12-31	zł35.49 Million ≈ $9.77 Million	+27.73%
2012-12-31	zł27.79 Million ≈ $7.65 Million	-8.28%
2011-12-31	zł30.30 Million ≈ $8.34 Million	-44.20%
2010-12-31	zł54.29 Million ≈ $14.94 Million	+31.11%
2009-12-31	zł41.41 Million ≈ $11.40 Million	-4.36%
2008-12-31	zł43.30 Million ≈ $11.92 Million	--

Equity Component Analysis

This analysis shows how different components contribute to INC 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 520.3% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Common Stock	zł1.50 Million	11.26%
Other Comprehensive Income	zł11.94 Million	89.39%
Other Components	zł4.20 Million	31.42%
Total Equity	zł13.35 Million	100.00%

INC S.A. Competitors by Market Cap

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

Company	Market Cap
Rossi Residencial S.A SA:RSID3	$6.88 Million
Fly Play hf. IC:PLAY	$6.88 Million
Momentus Inc NASDAQ:MNTS	$6.88 Million
TME PHARM.CONF.IPO EO 1- F:0N6A	$6.88 Million
Lupatech S.A SA:LUPA3	$6.87 Million
Immuron Ltd AU:IMC	$6.86 Million
Pool Advista Indonesia Tbk JK:POOL	$6.86 Million
KESSELRUN RESOURCES LTD F:CMG	$6.86 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 17,215,000 to 13,352,000, a change of -3,863,000 (-22.4%).
Net loss of 3,843,000 reduced equity.
Dividend payments of 8,000 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	zł-3.84 Million	-28.78%
Dividends Paid	zł8.00K	-0.06%
Other Changes	zł-12.00K	-0.09%
Total Change	zł-	-22.44%

Book Value vs Market Value Analysis

This analysis compares INC 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: 1.89x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 0.33x to 1.89x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2008-12-31	zł5.08	zł1.68	x
2009-12-31	zł5.00	zł1.68	x
2010-12-31	zł6.61	zł1.68	x
2011-12-31	zł3.63	zł1.68	x
2012-12-31	zł3.33	zł1.68	x
2013-12-31	zł4.25	zł1.68	x
2014-12-31	zł3.33	zł1.68	x
2015-12-31	zł3.17	zł1.68	x
2016-12-31	zł2.82	zł1.68	x
2017-12-31	zł2.33	zł1.68	x
2018-12-31	zł1.83	zł1.68	x
2019-12-31	zł1.89	zł1.68	x
2020-12-31	zł2.27	zł1.68	x
2021-12-31	zł2.65	zł1.68	x
2022-12-31	zł1.81	zł1.68	x
2023-12-31	zł1.24	zł1.68	x
2024-12-31	zł0.89	zł1.68	x

Capital Efficiency Dashboard

This dashboard shows how efficiently INC 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): -28.78%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -55.03%
• Asset Turnover: 0.21x
• Equity Multiplier: 2.50x
Recent ROE (-28.78%) is below the historical average (-5.16%), 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	2.36%	11.55%	0.13x	1.55x	zł-2.89 Million
2009	20.57%	109.29%	0.17x	1.08x	zł4.34 Million
2010	24.39%	455.26%	0.05x	1.15x	zł7.81 Million
2011	-80.91%	-427.82%	0.18x	1.08x	zł-27.54 Million
2012	-8.56%	-39.43%	0.20x	1.07x	zł-5.16 Million
2013	22.64%	216.16%	0.09x	1.12x	zł4.49 Million
2014	-39.80%	-451.16%	0.08x	1.11x	zł-13.84 Million
2015	1.83%	46.40%	0.03x	1.38x	zł-2.16 Million
2016	-10.80%	-116.38%	0.07x	1.37x	zł-4.89 Million
2017	-17.48%	-98.87%	0.11x	1.55x	zł-5.35 Million
2018	-31.12%	-121.71%	0.14x	1.78x	zł-6.29 Million
2019	-5.48%	-22.93%	0.13x	1.84x	zł-2.39 Million
2020	44.15%	88.62%	0.32x	1.55x	zł9.21 Million
2021	17.20%	56.22%	0.18x	1.66x	zł2.26 Million
2022	47.74%	293.17%	0.09x	1.76x	zł8.31 Million
2023	-45.61%	-179.57%	0.14x	1.79x	zł-9.57 Million
2024	-28.78%	-55.03%	0.21x	2.50x	zł-5.18 Million

Industry Comparison

This section compares INC S.A.'s net assets metrics with peer companies in the Capital Markets industry.

Industry Context

Industry: Capital Markets
Average net assets among peers: $362,273,622
Average return on equity (ROE) among peers: 83.08%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
INC S.A. (INC)	zł19.86 Million	2.36%	0.31x	$6.88 Million
Dom Maklerski IDM SA (IDM)	$2.23 Million	337.63%	1.44x	$5.75 Million
Ipopema Securities SA (IPE)	$44.37 Million	28.20%	2.13x	$51.58 Million
Novavis Group SA (NVG)	$5.31 Million	53.86%	2.47x	$6.43 Million
Reino Capital SA (RNC)	$55.66 Million	12.39%	0.24x	$23.34 Million
Skyline Investment S.A. (SKL)	$62.44 Million	23.62%	0.22x	$9.56 Million
X Trade Brokers Dom Maklerski SA (XTB)	$2.00 Billion	42.77%	2.32x	$3.30 Billion

About INC S.A.

WAR:INC Poland Capital Markets

Market Cap

$6.88 Million

zł24.98 Million PLN

Market Cap Rank

#27725 Global

#314 in Poland

Share Price

zł1.68

Change (1 day)

+0.00%

52-Week Range

zł1.45 - zł2.62

All Time High

zł17.00