Voxel S.A. (VOX) - Net Assets
Based on the latest financial reports, Voxel S.A. (VOX) has net assets worth zł448.06 Million PLN (≈ $123.31 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 (zł746.13 Million ≈ $205.34 Million USD) and total liabilities (zł298.07 Million ≈ $82.03 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 how strategically is Voxel S.A.'s equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | zł448.06 Million |
| % of Total Assets | 60.05% |
| Annual Growth Rate | 12.36% |
| 5-Year Change | 80.29% |
| 10-Year Change | 257.13% |
| Growth Volatility | 9.85 |
Voxel S.A. - Net Assets Trend (2010–2025)
This chart illustrates how Voxel S.A.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Voxel S.A. market capitalisation.
Annual Net Assets for Voxel S.A. (2010–2025)
The table below shows the annual net assets of Voxel S.A. from 2010 to 2025. Also explore Voxel S.A. annual equity growth to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | zł415.63 Million ≈ $114.39 Million |
+13.36% |
| 2024-12-31 | zł366.64 Million ≈ $100.90 Million |
+24.11% |
| 2023-12-31 | zł295.41 Million ≈ $81.30 Million |
+21.11% |
| 2022-12-31 | zł243.91 Million ≈ $67.13 Million |
+5.81% |
| 2021-12-31 | zł230.53 Million ≈ $63.44 Million |
+27.24% |
| 2020-12-31 | zł181.17 Million ≈ $49.86 Million |
+16.31% |
| 2019-12-31 | zł155.77 Million ≈ $42.87 Million |
+8.74% |
| 2018-12-31 | zł143.25 Million ≈ $39.43 Million |
+9.81% |
| 2017-12-31 | zł130.46 Million ≈ $35.90 Million |
+12.10% |
| 2016-12-31 | zł116.38 Million ≈ $32.03 Million |
+4.71% |
| 2015-12-31 | zł111.15 Million ≈ $30.59 Million |
+7.43% |
| 2014-12-31 | zł103.47 Million ≈ $28.48 Million |
-4.98% |
| 2013-12-31 | zł108.89 Million ≈ $29.97 Million |
+31.76% |
| 2012-12-31 | zł82.64 Million ≈ $22.74 Million |
-0.89% |
| 2011-12-31 | zł83.39 Million ≈ $22.95 Million |
+15.24% |
| 2010-12-31 | zł72.36 Million ≈ $19.92 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Voxel 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 30991517505.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | zł309.54 Million | 75.70% |
| Common Stock | zł10.50 Million | 2.57% |
| Other Components | zł88.86 Million | 21.73% |
| Total Equity | zł408.90 Million | 100.00% |
Voxel S.A. Competitors by Market Cap
The table below lists competitors of Voxel S.A. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Shouxiangu Pharm Co
SHG:603896
|
$420.93 Million |
|
Huchems
KO:069260
|
$421.26 Million |
|
SoluM Co Ltd
KO:248070
|
$421.26 Million |
|
Star Gas Partners LP
NYSE:SGU
|
$421.26 Million |
|
Attica Holdings S.A.
AT:ATTICA
|
$420.67 Million |
|
Benitec Biopharma Ltd ADR
NASDAQ:BNTC
|
$420.65 Million |
|
Xingyuan Environment Technology Co Ltd
SHE:300266
|
$420.64 Million |
|
Brainsway Ltd
TA:BWAY
|
$420.59 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Voxel S.A.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 360,569,200 to 408,900,700, a change of 48,331,500 (13.4%).
- Net income of 98,533,900 contributed positively to equity growth.
- Dividend payments of 47,720,700 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | zł98.53 Million | +24.1% |
| Dividends Paid | zł47.72 Million | -11.67% |
| Other Changes | zł-2.48 Million | -0.61% |
| Total Change | zł- | 13.40% |
Book Value vs Market Value Analysis
This analysis compares Voxel 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: 3.74x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 18.30x to 3.74x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | zł7.96 | zł145.60 | x |
| 2011-12-31 | zł9.32 | zł145.60 | x |
| 2012-12-31 | zł8.34 | zł145.60 | x |
| 2013-12-31 | zł10.37 | zł145.60 | x |
| 2014-12-31 | zł9.85 | zł145.60 | x |
| 2015-12-31 | zł10.57 | zł145.60 | x |
| 2016-12-31 | zł11.07 | zł145.60 | x |
| 2017-12-31 | zł12.41 | zł145.60 | x |
| 2018-12-31 | zł13.63 | zł145.60 | x |
| 2019-12-31 | zł14.83 | zł145.60 | x |
| 2020-12-31 | zł17.12 | zł145.60 | x |
| 2021-12-31 | zł21.80 | zł145.60 | x |
| 2022-12-31 | zł23.03 | zł145.60 | x |
| 2023-12-31 | zł27.93 | zł145.60 | x |
| 2024-12-31 | zł34.33 | zł145.60 | x |
| 2025-12-31 | zł38.93 | zł145.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Voxel 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): 24.10%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.88%
- • Asset Turnover: 0.83x
- • Equity Multiplier: 1.73x
- Recent ROE (24.10%) is above the historical average (13.45%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 3.58% | 4.19% | 0.36x | 2.39x | zł-4.62 Million |
| 2011 | -4.62% | -3.94% | 0.48x | 2.45x | zł-12.13 Million |
| 2012 | 3.88% | 5.55% | 0.34x | 2.03x | zł-5.06 Million |
| 2013 | 2.79% | 2.92% | 0.48x | 1.99x | zł-7.81 Million |
| 2014 | -3.31% | -3.33% | 0.48x | 2.08x | zł-13.77 Million |
| 2015 | 12.91% | 10.86% | 0.62x | 1.91x | zł3.23 Million |
| 2016 | 9.46% | 9.12% | 0.54x | 1.92x | zł-623.73K |
| 2017 | 15.20% | 13.01% | 0.64x | 1.83x | zł6.77 Million |
| 2018 | 16.33% | 13.72% | 0.60x | 1.97x | zł9.06 Million |
| 2019 | 14.75% | 10.85% | 0.63x | 2.17x | zł7.40 Million |
| 2020 | 18.88% | 10.37% | 0.75x | 2.44x | zł15.98 Million |
| 2021 | 30.81% | 15.94% | 0.89x | 2.16x | zł47.65 Million |
| 2022 | 18.37% | 10.71% | 0.89x | 1.93x | zł20.24 Million |
| 2023 | 25.30% | 17.49% | 0.80x | 1.80x | zł44.87 Million |
| 2024 | 26.75% | 19.00% | 0.79x | 1.77x | zł60.40 Million |
| 2025 | 24.10% | 16.88% | 0.83x | 1.73x | zł57.64 Million |
Industry Comparison
This section compares Voxel S.A.'s net assets metrics with peer companies in the Diagnostics & Research industry.
Industry Context
- Industry: Diagnostics & Research
- Average net assets among peers: $21,552,287
- Average return on equity (ROE) among peers: -0.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Voxel S.A. (VOX) | zł448.06 Million | 3.58% | 0.67x | $420.85 Million |
| Biomaxima (BMX) | $3.20 Million | 19.10% | 0.80x | $11.61 Million |
| Scope Fluidics SA (SCP) | $14.58 Million | -34.73% | 2.62x | $91.38 Million |
| Selvita S.A. (SLV) | $46.88 Million | 13.37% | 0.39x | $110.61 Million |
About Voxel S.A.
Voxel S.A. provides medical services in Poland. The company offers imaging diagnostics services, including reimbursed, commercial, and private patient examinations; teleradiology services; and clinical/pharmaceutical trials. It is also involved in the sale of radiopharmaceuticals, and the leasing of land. Voxel S.A. was incorporated in 2005 and is headquartered in Kraków, Poland.