VRG SA Net Assets

Latest as of September 2025: zł1.11 Billion PLN ≈ $305.57 Million USD

VRG SA net assets. Based on the latest financial reports, VRG SA (VRG) has net assets worth zł1.11 Billion PLN (≈ $305.57 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 (zł1.75 Billion ≈ $482.98 Million USD) and total liabilities (zł644.61 Million ≈ $177.41 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. See VRG net asset quality score to measure how much of total assets are equity-financed.

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

Net Assets of VRG SA (2008–2024)

Net assets of VRG SA from 2008 to 2024. This chart illustrates how VRG SA's net assets have evolved over time, based on quarterly financial data. Also explore VRG net asset momentum to track the company's year-over-year net asset growth rate.

Annual Net Assets for VRG SA (2008–2024)

The table below shows the annual net assets of VRG SA from 2008 to 2024. For live market cap and overall valuation, see market value of VRG SA.

Year	Net Assets	Change
2024-12-31	zł1.06 Billion ≈ $292.86 Million	+6.67%
2023-12-31	zł997.60 Million ≈ $274.55 Million	+5.82%
2022-12-31	zł942.76 Million ≈ $259.46 Million	+5.97%
2021-12-31	zł889.66 Million ≈ $244.85 Million	+9.15%
2020-12-31	zł815.12 Million ≈ $224.33 Million	-5.58%
2019-12-31	zł863.29 Million ≈ $237.59 Million	+7.23%
2018-12-31	zł805.10 Million ≈ $221.57 Million	+48.41%
2017-12-31	zł542.49 Million ≈ $149.30 Million	+9.73%
2016-12-31	zł494.39 Million ≈ $136.06 Million	+7.82%
2015-12-31	zł458.53 Million ≈ $126.19 Million	+6.48%
2014-12-31	zł430.62 Million ≈ $118.51 Million	+4.98%
2013-12-31	zł410.19 Million ≈ $112.89 Million	+23.10%
2012-12-31	zł333.23 Million ≈ $91.71 Million	+12.62%
2011-12-31	zł295.90 Million ≈ $81.44 Million	-1.70%
2010-12-31	zł301.03 Million ≈ $82.85 Million	+1.32%
2009-12-31	zł297.11 Million ≈ $81.77 Million	+24.69%
2008-12-31	zł238.28 Million ≈ $65.58 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.

VRG SA Net Assets Breakdown (December 2024)

VRG SA net assets breakdown by equity component as of 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
Dimerco Express TWO:5609	$348.53 Million
Test Rite International Co Ltd TW:2908	$348.59 Million
AnHui Annada Titanium Industry Co Ltd SHE:002136	$348.62 Million
Gaotu Techedu Inc DRC NYSE:GOTU	$348.74 Million
The Star Entertainment Group Limited F:EE9	$348.40 Million
Universal Vision Biotechnology Co Ltd TWO:3218	$348.34 Million
Jiangmen Kanhoo Industry Co Ltd SHE:300340	$348.33 Million
Nantong Acetic Acid Chemical Co Ltd SHG:603968	$348.29 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: 1.29x
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 2.58x to 1.29x 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	zł5.40	x
2009-12-31	zł2.61	zł5.40	x
2010-12-31	zł2.49	zł5.40	x
2011-12-31	zł2.45	zł5.40	x
2012-12-31	zł2.59	zł5.40	x
2013-12-31	zł2.65	zł5.40	x
2014-12-31	zł2.35	zł5.40	x
2015-12-31	zł2.55	zł5.40	x
2016-12-31	zł2.74	zł5.40	x
2017-12-31	zł3.00	zł5.40	x
2018-12-31	zł4.17	zł5.40	x
2019-12-31	zł3.68	zł5.40	x
2020-12-31	zł3.48	zł5.40	x
2021-12-31	zł3.68	zł5.40	x
2022-12-31	zł4.00	zł5.40	x
2023-12-31	zł4.23	zł5.40	x
2024-12-31	zł4.20	zł5.40	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: $1,022,787,600
Average return on equity (ROE) among peers: 15.17%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
VRG SA (VRG)	zł1.11 Billion	-66.92%	0.58x	$348.44 Million
Esotiq & Henderson S.A. (EAH)	$52.52 Million	-4.05%	0.78x	$17.32 Million
LPP S.A. (LPP)	$4.72 Billion	34.07%	1.93x	$13.67 Billion
Monnari Trade S.A. (MON)	$165.77 Million	27.93%	0.18x	$38.11 Million
Redan S.A. (RDN)	$131.30 Million	0.41%	1.45x	$491.38K
Silvano Fashion Group AS (SFG)	$47.36 Million	17.47%	0.19x	$50.33 Million

About VRG SA

WAR:VRG Poland Apparel Manufacturing

Market Cap

$348.44 Million

zł1.27 Billion PLN

Market Cap Rank

#14076 Global

#78 in Poland

Share Price

zł5.40

Change (1 day)

+0.00%

52-Week Range

zł4.39 - zł5.78

All Time High

zł5.78