VRG SA
VRG S.A. designs, manufactures, and sells jewelry and clothing for women and men in Poland and internationally. It operates through the Apparel and Jeweler segments. The company offers classical and avant-garde jackets, well-cut trousers, suits, modern knitwear, coats and jackets, polo shirts, and other accessories; luxury attire for women; and silk and bow ties, and cufflinks. It also provides g… Read more
VRG SA (VRG) - Net Assets
Latest net assets as of September 2025: zł1.11 Billion PLN
Based on the latest financial reports, VRG SA (VRG) has net assets worth zł1.11 Billion PLN as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (zł1.75 Billion) and total liabilities (zł644.61 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | zł1.11 Billion |
| % of Total Assets | 63.27% |
| Annual Growth Rate | 9.8% |
| 5-Year Change | 30.55% |
| 10-Year Change | 132.07% |
| Growth Volatility | 12.29 |
VRG SA - Net Assets Trend (2008–2024)
This chart illustrates how VRG SA's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for VRG SA (2008–2024)
The table below shows the annual net assets of VRG SA from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | zł1.06 Billion | +6.67% |
| 2023-12-31 | zł997.60 Million | +5.82% |
| 2022-12-31 | zł942.76 Million | +5.97% |
| 2021-12-31 | zł889.66 Million | +9.15% |
| 2020-12-31 | zł815.12 Million | -5.58% |
| 2019-12-31 | zł863.29 Million | +7.23% |
| 2018-12-31 | zł805.10 Million | +48.41% |
| 2017-12-31 | zł542.49 Million | +9.73% |
| 2016-12-31 | zł494.39 Million | +7.82% |
| 2015-12-31 | zł458.53 Million | +6.48% |
| 2014-12-31 | zł430.62 Million | +4.98% |
| 2013-12-31 | zł410.19 Million | +23.10% |
| 2012-12-31 | zł333.23 Million | +12.62% |
| 2011-12-31 | zł295.90 Million | -1.70% |
| 2010-12-31 | zł301.03 Million | +1.32% |
| 2009-12-31 | zł297.11 Million | +24.69% |
| 2008-12-31 | zł238.28 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to VRG 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 380.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | zł1.00 Billion | 94.06% |
| Common Stock | zł49.12 Million | 4.62% |
| Other Comprehensive Income | zł14.14 Million | 1.33% |
| Other Components | zł1.00 | 0.00% |
| Total Equity | zł1.06 Billion | 100.00% |
VRG SA Competitors by Market Cap
The table below lists competitors of VRG SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
United Malacca Bhd
KLSE:2593
|
$154.13 Million |
|
Agrana Beteiligungs AG
XETRA:AGB2
|
$154.15 Million |
|
ASRock Rack Incorporation
TW:7711
|
$154.17 Million |
|
Lionco Pharm Grp Co Ltd
SHG:603669
|
$154.20 Million |
|
Super-Dragon Engineering Plastics Co. Ltd
SHE:301131
|
$154.12 Million |
|
Tonghua Grape Wine Co Ltd
SHG:600365
|
$154.07 Million |
|
Thinkingdom Media Group Ltd
SHG:603096
|
$154.05 Million |
|
Joy Kie Corporation Limited.
SHE:300994
|
$154.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VRG SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 997,602,000 to 1,064,109,000, a change of 66,507,000 (6.7%).
- Net income of 87,804,000 contributed positively to equity growth.
- Dividend payments of 21,101,000 reduced retained earnings.
- Other comprehensive income decreased equity by 196,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | zł87.80 Million | +8.25% |
| Dividends Paid | zł21.10 Million | -1.98% |
| Other Comprehensive Income | zł-196.00K | -0.02% |
| Total Change | zł- | 6.67% |
Book Value vs Market Value Analysis
This analysis compares VRG 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 2.23x 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 | zł2.09 | zł4.66 | x |
| 2009-12-31 | zł2.61 | zł4.66 | x |
| 2010-12-31 | zł2.49 | zł4.66 | x |
| 2011-12-31 | zł2.45 | zł4.66 | x |
| 2012-12-31 | zł2.59 | zł4.66 | x |
| 2013-12-31 | zł2.65 | zł4.66 | x |
| 2014-12-31 | zł2.35 | zł4.66 | x |
| 2015-12-31 | zł2.55 | zł4.66 | x |
| 2016-12-31 | zł2.74 | zł4.66 | x |
| 2017-12-31 | zł3.00 | zł4.66 | x |
| 2018-12-31 | zł4.17 | zł4.66 | x |
| 2019-12-31 | zł3.68 | zł4.66 | x |
| 2020-12-31 | zł3.48 | zł4.66 | x |
| 2021-12-31 | zł3.68 | zł4.66 | x |
| 2022-12-31 | zł4.00 | zł4.66 | x |
| 2023-12-31 | zł4.23 | zł4.66 | x |
| 2024-12-31 | zł4.20 | zł4.66 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VRG 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): 8.25%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.39%
- • Asset Turnover: 0.82x
- • Equity Multiplier: 1.58x
- Recent ROE (8.25%) is above the historical average (1.38%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -66.92% | -31.58% | 0.63x | 3.37x | zł-183.28 Million |
| 2009 | 5.69% | 4.14% | 0.63x | 2.19x | zł-12.82 Million |
| 2010 | 0.55% | 0.47% | 0.55x | 2.14x | zł-28.44 Million |
| 2011 | -0.34% | -0.29% | 0.55x | 2.10x | zł-30.59 Million |
| 2012 | 3.68% | 3.10% | 0.62x | 1.92x | zł-21.05 Million |
| 2013 | 10.99% | 11.33% | 0.64x | 1.53x | zł4.04 Million |
| 2014 | 4.71% | 4.57% | 0.69x | 1.50x | zł-22.78 Million |
| 2015 | 6.16% | 5.45% | 0.74x | 1.52x | zł-17.63 Million |
| 2016 | 7.12% | 5.88% | 0.80x | 1.52x | zł-14.25 Million |
| 2017 | 7.96% | 6.28% | 0.88x | 1.44x | zł-11.04 Million |
| 2018 | 6.65% | 6.65% | 0.72x | 1.38x | zł-26.94 Million |
| 2019 | 7.41% | 5.99% | 0.75x | 1.66x | zł-22.34 Million |
| 2020 | -5.91% | -5.64% | 0.59x | 1.79x | zł-129.68 Million |
| 2021 | 7.45% | 6.20% | 0.72x | 1.68x | zł-22.66 Million |
| 2022 | 9.86% | 7.30% | 0.84x | 1.60x | zł-1.32 Million |
| 2023 | 10.20% | 7.82% | 0.85x | 1.53x | zł1.97 Million |
| 2024 | 8.25% | 6.39% | 0.82x | 1.58x | zł-18.61 Million |
Industry Comparison
This section compares VRG SA's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $829,326,400
- Average return on equity (ROE) among peers: 14.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VRG SA (VRG) | zł1.11 Billion | -66.92% | 0.58x | $154.13 Million |
| Esotiq & Henderson S.A. (EAH) | $54.02 Million | 10.18% | 1.66x | $6.56 Million |
| LPP S.A. (LPP) | $3.98 Billion | 27.49% | 2.24x | $5.93 Billion |
| Monnari Trade S.A. (MON) | $15.83 Million | 19.28% | 0.88x | $15.53 Million |
| Redan S.A. (RDN) | $52.04 Million | 6.45% | 2.91x | $208.49K |
| Silvano Fashion Group AS (SFG) | $40.37 Million | 9.84% | 0.29x | $31.75 Million |