Makarony Polskie S.A. (MAK) - Net Assets
Based on the latest financial reports, Makarony Polskie S.A. (MAK) has net assets worth zł191.47 Million PLN (≈ $52.69 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 (zł261.72 Million ≈ $72.03 Million USD) and total liabilities (zł70.25 Million ≈ $19.33 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 strategic asset allocation of Makarony Polskie S.A. to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | zł191.47 Million |
| % of Total Assets | 73.16% |
| Annual Growth Rate | 6.62% |
| 5-Year Change | 92.92% |
| 10-Year Change | 169.33% |
| Growth Volatility | 7.98 |
Makarony Polskie S.A. - Net Assets Trend (2007–2025)
This chart illustrates how Makarony Polskie S.A.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Makarony Polskie S.A. (MAK) total market value.
Annual Net Assets for Makarony Polskie S.A. (2007–2025)
The table below shows the annual net assets of Makarony Polskie S.A. from 2007 to 2025. Also explore Makarony Polskie S.A. (MAK) net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | zł196.11 Million ≈ $53.97 Million |
+12.94% |
| 2024-12-31 | zł173.64 Million ≈ $47.79 Million |
+16.32% |
| 2023-12-31 | zł149.28 Million ≈ $41.08 Million |
+21.45% |
| 2022-12-31 | zł122.91 Million ≈ $33.83 Million |
+20.91% |
| 2021-12-31 | zł101.65 Million ≈ $27.98 Million |
+19.31% |
| 2020-12-31 | zł85.20 Million ≈ $23.45 Million |
+6.52% |
| 2019-12-31 | zł79.99 Million ≈ $22.01 Million |
+1.47% |
| 2018-12-31 | zł78.83 Million ≈ $21.69 Million |
+3.70% |
| 2017-12-31 | zł76.02 Million ≈ $20.92 Million |
+4.40% |
| 2016-12-31 | zł72.82 Million ≈ $20.04 Million |
+2.71% |
| 2015-12-31 | zł70.90 Million ≈ $19.51 Million |
+5.09% |
| 2014-12-31 | zł67.46 Million ≈ $18.57 Million |
+6.40% |
| 2013-12-31 | zł63.40 Million ≈ $17.45 Million |
+4.51% |
| 2012-12-31 | zł60.66 Million ≈ $16.70 Million |
+2.12% |
| 2011-12-31 | zł59.41 Million ≈ $16.35 Million |
-7.92% |
| 2010-12-31 | zł64.52 Million ≈ $17.76 Million |
+5.35% |
| 2009-12-31 | zł61.24 Million ≈ $16.85 Million |
+3.72% |
| 2008-12-31 | zł59.04 Million ≈ $16.25 Million |
-4.54% |
| 2007-12-31 | zł61.85 Million ≈ $17.02 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Makarony Polskie 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 647.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | zł18.25 Million | 9.85% |
| Common Stock | zł33.12 Million | 17.88% |
| Other Comprehensive Income | zł136.61 Million | 73.74% |
| Total Equity | zł185.26 Million | 100.00% |
Makarony Polskie S.A. Competitors by Market Cap
The table below lists competitors of Makarony Polskie S.A. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GBM Resources Limited
AU:GBM
|
$72.93 Million |
|
Electrocore LLC
NASDAQ:ECOR
|
$72.94 Million |
|
Woori SPAC 3
KQ:198440
|
$72.95 Million |
|
Melrose Industries PLC
LSE:MRO
|
$72.95 Million |
|
Foshan Electrical and Lighting Co Ltd
SHE:200541
|
$72.88 Million |
|
CKM Building Material
TWO:8930
|
$72.85 Million |
|
Centrale d'Achat Française pour l'Outre-Mer Société Anonyme
PA:CAFO
|
$72.84 Million |
|
Income Opportunity Realty Investors
NYSE MKT:IOR
|
$72.78 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Makarony Polskie S.A.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 173,642,000 to 185,265,000, a change of 11,623,000 (6.7%).
- Net income of 21,496,000 contributed positively to equity growth.
- Dividend payments of 8,176,000 reduced retained earnings.
- Share repurchases of 1,697,000 reduced equity.
- Other comprehensive income increased equity by 23,340,000.
- Other factors decreased equity by 23,340,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | zł21.50 Million | +11.6% |
| Dividends Paid | zł8.18 Million | -4.41% |
| Share Repurchases | zł1.70 Million | -0.92% |
| Other Comprehensive Income | zł23.34 Million | +12.6% |
| Other Changes | zł-23.34 Million | -12.6% |
| Total Change | zł- | 6.69% |
Book Value vs Market Value Analysis
This analysis compares Makarony Polskie 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: 1.43x
- 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 2.84x to 1.43x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | zł8.56 | zł24.30 | x |
| 2008-12-31 | zł6.41 | zł24.30 | x |
| 2009-12-31 | zł6.62 | zł24.30 | x |
| 2010-12-31 | zł6.97 | zł24.30 | x |
| 2011-12-31 | zł6.42 | zł24.30 | x |
| 2012-12-31 | zł6.56 | zł24.30 | x |
| 2013-12-31 | zł6.85 | zł24.30 | x |
| 2014-12-31 | zł7.29 | zł24.30 | x |
| 2015-12-31 | zł7.66 | zł24.30 | x |
| 2016-12-31 | zł7.87 | zł24.30 | x |
| 2017-12-31 | zł8.22 | zł24.30 | x |
| 2018-12-31 | zł8.52 | zł24.30 | x |
| 2019-12-31 | zł8.65 | zł24.30 | x |
| 2020-12-31 | zł9.21 | zł24.30 | x |
| 2021-12-31 | zł10.87 | zł24.30 | x |
| 2022-12-31 | zł11.13 | zł24.30 | x |
| 2023-12-31 | zł13.52 | zł24.30 | x |
| 2024-12-31 | zł15.74 | zł24.30 | x |
| 2025-12-31 | zł16.97 | zł24.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Makarony Polskie 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): 11.60%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.32%
- • Asset Turnover: 1.17x
- • Equity Multiplier: 1.35x
- Recent ROE (11.60%) is above the historical average (7.17%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 3.92% | 2.89% | 0.87x | 1.55x | zł-3.76 Million |
| 2008 | -4.70% | -3.13% | 0.78x | 1.94x | zł-8.68 Million |
| 2009 | 3.59% | 1.87% | 1.00x | 1.93x | zł-3.93 Million |
| 2010 | 4.91% | 2.11% | 1.13x | 2.05x | zł-3.28 Million |
| 2011 | -5.63% | -1.59% | 1.48x | 2.39x | zł-9.29 Million |
| 2012 | 2.07% | 0.95% | 1.03x | 2.12x | zł-4.81 Million |
| 2013 | 4.57% | 2.19% | 1.07x | 1.95x | zł-3.44 Million |
| 2014 | 6.14% | 3.35% | 0.98x | 1.88x | zł-2.60 Million |
| 2015 | 6.93% | 3.70% | 1.05x | 1.79x | zł-2.18 Million |
| 2016 | 6.99% | 4.10% | 0.97x | 1.76x | zł-2.19 Million |
| 2017 | 7.26% | 3.81% | 1.06x | 1.80x | zł-2.08 Million |
| 2018 | 7.40% | 3.79% | 1.06x | 1.85x | zł-2.05 Million |
| 2019 | 4.75% | 2.30% | 0.95x | 2.17x | zł-4.20 Million |
| 2020 | 8.84% | 4.02% | 1.04x | 2.12x | zł-992.30K |
| 2021 | 6.29% | 3.77% | 0.83x | 2.02x | zł-3.78 Million |
| 2022 | 19.90% | 7.44% | 1.37x | 1.95x | zł12.17 Million |
| 2023 | 22.03% | 9.27% | 1.49x | 1.59x | zł17.96 Million |
| 2024 | 19.39% | 11.10% | 1.19x | 1.46x | zł16.30 Million |
| 2025 | 11.60% | 7.32% | 1.17x | 1.35x | zł2.97 Million |
Industry Comparison
This section compares Makarony Polskie S.A.'s net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $158,656,500
- Average return on equity (ROE) among peers: -20.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Makarony Polskie S.A. (MAK) | zł191.47 Million | 3.92% | 0.37x | $72.90 Million |
| Bio Planet SA (BIP) | $10.86 Million | 0.76% | 3.26x | $20.56 Million |
| Helio SA (HEL) | $44.80 Million | 9.04% | 0.38x | $69.82 Million |
| Mlk Foods Public Company Ltd (MLK) | $35.94 Million | -202.57% | 4.19x | $12.35 Million |
| Zaklady Przemyslu Cukierniczego Otmuchow S.A. (OTM) | $95.21 Million | -9.11% | 1.01x | $39.97 Million |
| Pamapol S.A. (PMP) | $97.59 Million | -7.00% | 2.60x | $25.63 Million |
| Przedsiebiorstwo Przemyslu Spozywczego PEPEES S.A. (PPS) | $166.48 Million | 13.87% | 1.01x | $20.91 Million |
| Seko S.A. (SEK) | $94.58 Million | 10.05% | 0.67x | $19.86 Million |
| Tarczynski S.A. (TAR) | $723.79 Million | 17.37% | 1.93x | $376.30 Million |
About Makarony Polskie S.A.
Makarony Polskie S.A., together with its subsidiaries, manufactures and sells pastas for various consumers in Poland. The company offers various pasta products, as well as jams and reserves; plum jams, vegetable preserves and ready-to-eat meals, pates, lards, canned goods. It offers its products under the Makarony Polskie, Sorenti, Solare, Stoczek, Meska Rzecz, Abak, Tenczynek, Novelle, and So Fo… Read more