Votum SA (VOT) - Net Assets

Latest as of March 2026: zł415.56 Million PLN ≈ $114.37 Million USD

Based on the latest financial reports, Votum SA (VOT) has net assets worth zł415.56 Million PLN (≈ $114.37 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 (zł694.71 Million ≈ $191.19 Million USD) and total liabilities (zł279.15 Million ≈ $76.83 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. Also explore balance sheet size of Votum SA for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł415.56 Million
% of Total Assets	59.82%
Annual Growth Rate	33.6%
5-Year Change	458.04%
10-Year Change	1119.24%
Growth Volatility	54.85

Votum SA - Net Assets Trend (2009–2025)

This chart illustrates how Votum SA's net assets have evolved over time, based on quarterly financial data. Check VOT tangible net worth ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Votum SA (2009–2025)

The table below shows the annual net assets of Votum SA from 2009 to 2025. For live valuation and market cap data, see how much is Votum SA worth.

Year	Net Assets	Change
2025-12-31	zł387.93 Million ≈ $106.76 Million	+18.65%
2024-12-31	zł326.95 Million ≈ $89.98 Million	+26.48%
2023-12-31	zł258.51 Million ≈ $71.15 Million	+69.60%
2022-12-31	zł152.42 Million ≈ $41.95 Million	+119.26%
2021-12-31	zł69.52 Million ≈ $19.13 Million	+8.52%
2020-12-31	zł64.06 Million ≈ $17.63 Million	+15.21%
2019-12-31	zł55.60 Million ≈ $15.30 Million	+34.96%
2018-12-31	zł41.20 Million ≈ $11.34 Million	+55.01%
2017-12-31	zł26.58 Million ≈ $7.31 Million	-16.46%
2016-12-31	zł31.82 Million ≈ $8.76 Million	+28.87%
2015-12-31	zł24.69 Million ≈ $6.80 Million	+12.78%
2014-12-31	zł21.89 Million ≈ $6.02 Million	+18.46%
2013-12-31	zł18.48 Million ≈ $5.09 Million	-0.37%
2012-12-31	zł18.55 Million ≈ $5.10 Million	+5.09%
2011-12-31	zł17.65 Million ≈ $4.86 Million	+48.21%
2010-12-31	zł11.91 Million ≈ $3.28 Million	+216.31%
2009-12-31	zł3.77 Million ≈ $1.04 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Votum 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 19869.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	zł374.83 Million	98.19%
Other Components	zł6.90 Million	1.81%
Total Equity	zł381.74 Million	100.00%

Votum SA Competitors by Market Cap

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

Company	Market Cap
Airtificial Intelligence Structures SA MC:AI	$149.67 Million
Resources Connection Inc NASDAQ:RGP	$149.68 Million
Tofu Restaurant Co Ltd TWO:2752	$149.70 Million
Fortifai Ltd AU:FTI	$149.88 Million
Well Shin Technology Co Ltd TW:3501	$149.59 Million
Exsitec Holding AB ST:EXS	$149.59 Million
TGE Value Creative Solutions Corp NYSE:BEBE	$149.55 Million
Marti Technologies Inc. NYSE:MRT	$149.55 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 321,828,000 to 381,735,000, a change of 59,907,000 (18.6%).
Net income of 140,151,000 contributed positively to equity growth.
Dividend payments of 81,774,000 reduced retained earnings.
New share issuances of 101,000 increased equity.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	zł140.15 Million	+36.71%
Dividends Paid	zł81.77 Million	-21.42%
Share Issuances	zł101.00K	+0.03%
Other Changes	zł1.43 Million	+0.37%
Total Change	zł-	18.61%

Book Value vs Market Value Analysis

This analysis compares Votum 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: 1.42x
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 127.18x to 1.42x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2009-12-31	zł0.36	zł45.30	x
2010-12-31	zł1.17	zł45.30	x
2011-12-31	zł1.44	zł45.30	x
2012-12-31	zł1.53	zł45.30	x
2013-12-31	zł1.52	zł45.30	x
2014-12-31	zł1.81	zł45.30	x
2015-12-31	zł2.04	zł45.30	x
2016-12-31	zł2.64	zł45.30	x
2017-12-31	zł2.20	zł45.30	x
2018-12-31	zł3.42	zł45.30	x
2019-12-31	zł4.61	zł45.30	x
2020-12-31	zł5.34	zł45.30	x
2021-12-31	zł5.74	zł45.30	x
2022-12-31	zł12.57	zł45.30	x
2023-12-31	zł21.26	zł45.30	x
2024-12-31	zł26.82	zł45.30	x
2025-12-31	zł31.81	zł45.30	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Votum 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): 36.71%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 30.31%
• Asset Turnover: 0.69x
• Equity Multiplier: 1.76x
Recent ROE (36.71%) is below the historical average (38.67%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2009	104.21%	9.29%	2.27x	4.95x	zł3.36 Million
2010	45.29%	11.14%	1.76x	2.30x	zł4.13 Million
2011	30.48%	10.85%	1.48x	1.90x	zł3.54 Million
2012	30.75%	10.85%	1.54x	1.84x	zł3.81 Million
2013	28.00%	8.87%	1.47x	2.15x	zł3.29 Million
2014	43.71%	12.81%	1.63x	2.09x	zł7.33 Million
2015	59.66%	15.83%	1.85x	2.04x	zł12.18 Million
2016	39.92%	12.85%	1.51x	2.06x	zł9.48 Million
2017	11.96%	3.35%	1.31x	2.72x	zł515.50K
2018	20.18%	7.87%	1.11x	2.30x	zł4.18 Million
2019	31.31%	12.22%	1.33x	1.93x	zł11.79 Million
2020	13.54%	5.76%	1.31x	1.79x	zł2.27 Million
2021	14.61%	5.15%	1.48x	1.92x	zł3.18 Million
2022	60.35%	30.13%	1.11x	1.81x	zł75.98 Million
2023	51.71%	34.08%	0.87x	1.74x	zł106.42 Million
2024	35.07%	27.71%	0.70x	1.81x	zł80.69 Million
2025	36.71%	30.31%	0.69x	1.76x	zł101.98 Million

Industry Comparison

This section compares Votum SA's net assets metrics with peer companies in the Specialty Business Services industry.

Industry Context

Industry: Specialty Business Services
Average net assets among peers: $21,384,000
Average return on equity (ROE) among peers: 24.01%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Votum SA (VOT)	zł415.56 Million	104.21%	0.67x	$149.61 Million
Labo Print SA (LAB)	$23.75 Million	18.24%	1.68x	$15.34 Million
Gielda Praw Majatkowych Vindexus S.A. (VIN)	$19.02 Million	29.79%	0.42x	$45.58 Million

About Votum SA

WAR:VOT Poland Specialty Business Services

Market Cap

$149.61 Million

zł543.60 Million PLN

Market Cap Rank

#17629 Global

#120 in Poland

Share Price

zł45.30

Change (1 day)

+2.26%

52-Week Range

zł39.40 - zł52.70

All Time High

zł52.74