Mirbud SA (MRB) - Net Assets

Latest as of September 2025: zł1.13 Billion PLN ≈ $312.16 Million USD

Based on the latest financial reports, Mirbud SA (MRB) has net assets worth zł1.13 Billion PLN (≈ $312.16 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 (zł2.64 Billion ≈ $725.71 Million USD) and total liabilities (zł1.50 Billion ≈ $413.55 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 Mirbud SA liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł1.13 Billion
% of Total Assets	43.01%
Annual Growth Rate	22.96%
5-Year Change	137.22%
10-Year Change	253.72%
Growth Volatility	62.34

Mirbud SA - Net Assets Trend (2008–2024)

This chart illustrates how Mirbud SA's net assets have evolved over time, based on quarterly financial data. Also explore MRB asset base for the complete picture of this company's asset base.

Annual Net Assets for Mirbud SA (2008–2024)

The table below shows the annual net assets of Mirbud SA from 2008 to 2024. For live valuation and market cap data, see MRB market cap.

Year	Net Assets	Change
2024-12-31	zł1.10 Billion ≈ $301.37 Million	+37.99%
2023-12-31	zł793.55 Million ≈ $218.40 Million	+16.36%
2022-12-31	zł681.99 Million ≈ $187.69 Million	+17.12%
2021-12-31	zł582.28 Million ≈ $160.25 Million	+26.14%
2020-12-31	zł461.61 Million ≈ $127.04 Million	+13.91%
2019-12-31	zł405.25 Million ≈ $111.53 Million	+5.91%
2018-12-31	zł382.62 Million ≈ $105.30 Million	+7.52%
2017-12-31	zł355.87 Million ≈ $97.94 Million	+7.59%
2016-12-31	zł330.76 Million ≈ $91.03 Million	+6.85%
2015-12-31	zł309.57 Million ≈ $85.20 Million	+4.93%
2014-12-31	zł295.02 Million ≈ $81.19 Million	+12.71%
2013-12-31	zł261.75 Million ≈ $72.04 Million	+6.77%
2012-12-31	zł245.15 Million ≈ $67.47 Million	-8.40%
2011-12-31	zł267.63 Million ≈ $73.66 Million	+251.58%
2009-12-31	zł76.12 Million ≈ $20.95 Million	+89.82%
2008-12-31	zł40.10 Million ≈ $11.04 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Mirbud SA'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 7061.1% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	zł662.97 Million	60.54%
Common Stock	zł11.01 Million	1.01%
Other Comprehensive Income	zł223.51 Million	20.41%
Other Components	zł197.53 Million	18.04%
Total Equity	zł1.10 Billion	100.00%

Mirbud SA Competitors by Market Cap

The table below lists competitors of Mirbud SA ranked by their market capitalization.

Company	Market Cap
SEONGAN CO. Ltd KO:011300	$334.81 Million
Fastighets AB Trianon (publ) ST:TRIAN-B	$334.81 Million
LUBAWA SA WAR:LBW	$334.99 Million
Viemed Healthcare Inc NASDAQ:VMD	$335.11 Million
Delcath Systems Inc NASDAQ:DCTH	$334.77 Million
Cahya Mata Sarawak Bhd KLSE:2852	$334.77 Million
Bredband2 i Skandinavien AB ST:BRE2	$334.75 Million
FuelCell Energy Inc NASDAQ:FCEL	$334.63 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 793,550,000 to 1,095,020,000, a change of 301,470,000 (38.0%).
Net income of 121,372,000 contributed positively to equity growth.
Dividend payments of 19,266,000 reduced retained earnings.
Share repurchases of 19,266,000 reduced equity.
New share issuances of 199,364,000 increased equity.
Other comprehensive income increased equity by 3,010,000.
Other factors increased equity by 16,256,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	zł121.37 Million	+11.08%
Dividends Paid	zł19.27 Million	-1.76%
Share Repurchases	zł19.27 Million	-1.76%
Share Issuances	zł199.36 Million	+18.21%
Other Comprehensive Income	zł3.01 Million	+0.27%
Other Changes	zł16.26 Million	+1.48%
Total Change	zł-	37.99%

Book Value vs Market Value Analysis

This analysis compares Mirbud SA'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: 1.11x
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 10.28x to 1.11x 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	zł1.08	zł11.05	x
2009-12-31	zł1.88	zł11.05	x
2011-12-31	zł2.87	zł11.05	x
2012-12-31	zł2.68	zł11.05	x
2013-12-31	zł2.87	zł11.05	x
2014-12-31	zł3.13	zł11.05	x
2015-12-31	zł3.15	zł11.05	x
2016-12-31	zł3.38	zł11.05	x
2017-12-31	zł3.66	zł11.05	x
2018-12-31	zł3.95	zł11.05	x
2019-12-31	zł4.42	zł11.05	x
2020-12-31	zł5.03	zł11.05	x
2021-12-31	zł6.35	zł11.05	x
2022-12-31	zł7.43	zł11.05	x
2023-12-31	zł8.65	zł11.05	x
2024-12-31	zł9.95	zł11.05	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Mirbud SA 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): 11.08%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 3.73%
• Asset Turnover: 1.35x
• Equity Multiplier: 2.20x
Recent ROE (11.08%) is below the historical average (12.37%), 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	37.33%	6.36%	1.06x	5.56x	zł10.96 Million
2009	18.32%	6.50%	0.76x	3.69x	zł6.33 Million
2011	11.39%	4.46%	0.90x	2.84x	zł2.98 Million
2012	2.92%	0.99%	0.86x	3.40x	zł-14.23 Million
2013	6.75%	1.55%	1.09x	3.99x	zł-7.00 Million
2014	6.77%	1.71%	1.23x	3.21x	zł-7.96 Million
2015	5.25%	1.79%	0.80x	3.66x	zł-12.34 Million
2016	6.99%	2.52%	0.81x	3.43x	zł-8.40 Million
2017	7.56%	2.65%	0.86x	3.33x	zł-7.36 Million
2018	7.56%	2.16%	1.06x	3.31x	zł-7.95 Million
2019	6.94%	2.96%	0.83x	2.83x	zł-12.40 Million
2020	12.61%	4.68%	0.81x	3.33x	zł12.03 Million
2021	21.98%	5.11%	1.23x	3.50x	zł69.78 Million
2022	17.48%	3.59%	1.48x	3.30x	zł51.00 Million
2023	17.06%	4.08%	1.45x	2.88x	zł56.06 Million
2024	11.08%	3.73%	1.35x	2.20x	zł11.87 Million

Industry Comparison

This section compares Mirbud SA's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $280,158,821
Average return on equity (ROE) among peers: -5.45%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Mirbud SA (MRB)	zł1.13 Billion	37.33%	1.32x	$334.81 Million
Atrem S.A. (ATR)	$29.67 Million	-26.78%	1.63x	$157.50 Million
Budimex S.A. (BDX)	$1.57 Billion	47.01%	4.36x	$4.62 Billion
Dekpol SA (DEK)	$138.91 Million	16.49%	2.36x	$181.82 Million
Energoaparatura S.A. (ENP)	$11.89 Million	17.93%	0.76x	$20.04 Million
Erbud SA (ERB)	$274.82 Million	12.24%	3.27x	$87.01 Million
INSTAL KRAKÓW SA (INK)	$227.27 Million	5.34%	0.76x	$75.39 Million
Interbud-Lublin SA (ITB)	$19.81 Million	-119.91%	5.87x	$5.71 Million
MOSTOSTAL Płock SA (MSP)	$55.39 Million	4.65%	0.60x	$7.27 Million
Mostostal Warszawa S.A. (MSW)	$193.37 Million	-5.97%	6.07x	$27.74 Million

About Mirbud SA

WAR:MRB Poland Engineering & Construction

Market Cap

$334.81 Million

zł1.22 Billion PLN

Market Cap Rank

#14499 Global

#78 in Poland

Share Price

zł11.05

Change (1 day)

-0.45%

52-Week Range

zł10.85 - zł15.97

All Time High

zł15.97