ULMA Construccion Polska SA (ULM) - Net Assets

Latest as of March 2026: zł341.41 Million PLN ≈ $93.96 Million USD

Based on the latest financial reports, ULMA Construccion Polska SA (ULM) has net assets worth zł341.41 Million PLN (≈ $93.96 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 (zł416.58 Million ≈ $114.65 Million USD) and total liabilities (zł75.17 Million ≈ $20.69 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 ULMA Construccion Polska SA (ULM) strategic asset index to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł341.41 Million
% of Total Assets	81.96%
Annual Growth Rate	6.68%
5-Year Change	2.59%
10-Year Change	13.77%
Growth Volatility	31.03

ULMA Construccion Polska SA - Net Assets Trend (2006–2025)

This chart illustrates how ULMA Construccion Polska SA's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see ULMA Construccion Polska SA market cap and net worth.

Annual Net Assets for ULMA Construccion Polska SA (2006–2025)

The table below shows the annual net assets of ULMA Construccion Polska SA from 2006 to 2025. Also explore ULM net asset momentum to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	zł344.11 Million ≈ $94.70 Million	+2.03%
2024-12-31	zł337.28 Million ≈ $92.82 Million	+0.46%
2023-12-31	zł335.73 Million ≈ $92.40 Million	-2.18%
2022-12-31	zł343.20 Million ≈ $94.45 Million	+2.32%
2021-12-31	zł335.43 Million ≈ $92.32 Million	-3.19%
2020-12-31	zł346.48 Million ≈ $95.36 Million	+0.68%
2019-12-31	zł344.13 Million ≈ $94.71 Million	+6.59%
2018-12-31	zł322.85 Million ≈ $88.85 Million	+9.14%
2017-12-31	zł295.82 Million ≈ $81.42 Million	-2.20%
2016-12-31	zł302.46 Million ≈ $83.24 Million	+4.60%
2015-12-31	zł289.16 Million ≈ $79.58 Million	+0.35%
2014-12-31	zł288.15 Million ≈ $79.30 Million	-3.67%
2013-12-31	zł299.13 Million ≈ $82.32 Million	-3.56%
2012-12-31	zł310.16 Million ≈ $85.36 Million	+1.81%
2011-12-31	zł304.63 Million ≈ $83.84 Million	+13.60%
2010-12-31	zł268.15 Million ≈ $73.80 Million	+4.42%
2009-12-31	zł256.80 Million ≈ $70.68 Million	-2.69%
2008-12-31	zł263.91 Million ≈ $72.63 Million	+9.37%
2007-12-31	zł241.30 Million ≈ $66.41 Million	+139.46%
2006-12-31	zł100.77 Million ≈ $27.73 Million	--

Equity Component Analysis

This analysis shows how different components contribute to ULMA Construccion Polska 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 285.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	zł252.61 Million	73.41%
Common Stock	zł10.51 Million	3.05%
Other Comprehensive Income	zł-34.00 Million	-9.88%
Other Components	zł114.99 Million	33.42%
Total Equity	zł344.11 Million	100.00%

ULMA Construccion Polska SA Competitors by Market Cap

The table below lists competitors of ULMA Construccion Polska SA ranked by their market capitalization.

Company	Market Cap
Ekopak BV BR:EKOP	$73.77 Million
XAC Automation TWO:5490	$73.81 Million
Orior AG SW:ORON	$73.85 Million
NSTS Bancorp Inc NASDAQ:NSTS	$73.86 Million
HNA Technology Co Ltd B SHG:900938	$73.71 Million
Polygon-L TA:POLY	$73.68 Million
Satia Industries Limited NSE:SATIA	$73.66 Million
Central Plains Bancshares, Inc. Common Stock NASDAQ:CPBI	$73.63 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 337,280,000 to 344,112,000, a change of 6,832,000 (2.0%).
Net income of 13,339,000 contributed positively to equity growth.
Other comprehensive income decreased equity by 6,507,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	zł13.34 Million	+3.88%
Other Comprehensive Income	zł-6.51 Million	-1.89%
Total Change	zł-	2.03%

Book Value vs Market Value Analysis

This analysis compares ULMA Construccion Polska 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: 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.
The price-to-book ratio has decreased from 2.48x to 0.78x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2006-12-31	zł20.60	zł51.00	x
2007-12-31	zł46.94	zł51.00	x
2008-12-31	zł50.21	zł51.00	x
2009-12-31	zł48.86	zł51.00	x
2010-12-31	zł51.02	zł51.00	x
2011-12-31	zł57.96	zł51.00	x
2012-12-31	zł59.01	zł51.00	x
2013-12-31	zł56.92	zł51.00	x
2014-12-31	zł54.83	zł51.00	x
2015-12-31	zł55.02	zł51.00	x
2016-12-31	zł57.55	zł51.00	x
2017-12-31	zł56.29	zł51.00	x
2018-12-31	zł61.43	zł51.00	x
2019-12-31	zł65.48	zł51.00	x
2020-12-31	zł65.92	zł51.00	x
2021-12-31	zł63.82	zł51.00	x
2022-12-31	zł65.30	zł51.00	x
2023-12-31	zł63.88	zł51.00	x
2024-12-31	zł64.17	zł51.00	x
2025-12-31	zł65.47	zł51.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently ULMA Construccion Polska 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): 3.88%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.43%
• Asset Turnover: 0.57x
• Equity Multiplier: 1.26x
Recent ROE (3.88%) is below the historical average (8.04%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2006	32.68%	21.35%	0.63x	2.41x	zł22.85 Million
2007	21.09%	22.86%	0.56x	1.65x	zł26.75 Million
2008	9.80%	10.70%	0.49x	1.87x	zł-538.00K
2009	-2.14%	-3.13%	0.32x	2.12x	zł-31.16 Million
2010	3.82%	4.75%	0.42x	1.91x	zł-16.58 Million
2011	16.20%	16.76%	0.58x	1.67x	zł18.89 Million
2012	6.59%	7.87%	0.57x	1.47x	zł-10.59 Million
2013	0.03%	0.04%	0.54x	1.29x	zł-29.82 Million
2014	-1.94%	-2.90%	0.58x	1.15x	zł-34.41 Million
2015	1.90%	3.02%	0.55x	1.14x	zł-23.41 Million
2016	4.26%	7.14%	0.54x	1.11x	zł-17.35 Million
2017	8.19%	12.03%	0.60x	1.14x	zł-5.36 Million
2018	14.56%	21.01%	0.61x	1.14x	zł14.71 Million
2019	13.43%	20.14%	0.58x	1.14x	zł11.79 Million
2020	5.83%	10.59%	0.49x	1.13x	zł-14.46 Million
2021	7.45%	11.90%	0.52x	1.20x	zł-8.57 Million
2022	4.21%	7.19%	0.51x	1.15x	zł-19.87 Million
2023	6.09%	10.04%	0.51x	1.18x	zł-13.12 Million
2024	4.83%	7.27%	0.54x	1.23x	zł-17.44 Million
2025	3.88%	5.43%	0.57x	1.26x	zł-21.07 Million

Industry Comparison

This section compares ULMA Construccion Polska SA's net assets metrics with peer companies in the Rental & Leasing Services industry.

Industry Context

Industry: Rental & Leasing Services
Average net assets among peers: $129,136,000
Average return on equity (ROE) among peers: -5.28%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
ULMA Construccion Polska SA (ULM)	zł341.41 Million	32.68%	0.22x	$73.77 Million
Herkules S.A. (HRS)	$129.14 Million	-5.28%	1.70x	$11.83 Million

About ULMA Construccion Polska SA

WAR:ULM Poland Rental & Leasing Services

Market Cap

$73.77 Million

zł268.04 Million PLN

Market Cap Rank

#20466 Global

#166 in Poland

Share Price

zł51.00

Change (1 day)

-0.97%

52-Week Range

zł51.00 - zł65.00

All Time High

zł74.00