As of 2023, PIB Group's net worth is -£866,332,000.00. It's important to understand that net worth represents the total assets of a company minus its total liabilities. A negative net worth indicates that the company's liabilities exceed its assets.
Financial Overview of PIB Group
The financial data provides insight into PIB Group's worth over recent years. The net worth has significantly decreased from 2019 to 2023.
| Financial Metric | 2019 | 2023 |
|---|---|---|
| Net Worth | -£159,418,000.00 | -£866,332,000.00 |
Understanding Net Worth
- Definition: Net worth is a key indicator of a company's financial health, calculated as:
- Net Worth = Total Assets - Total Liabilities
- Negative Net Worth: A negative net worth, as seen with PIB Group, means that the company owes more than the value of its assets. This can occur for various reasons, including aggressive expansion fueled by debt, significant losses, or specific accounting treatments for acquisitions or goodwill.
Additional Financials
For further context on PIB Group's financial position, here are other key figures from their accounts:
- Cash: The company's cash reserves increased substantially.
- 2019: £77,584,000.00
- 2023: £335,094,000.00
- Total Current Assets: This includes assets that can be converted into cash within one year.
- 2019: £113,763,000.00
- 2023: £434,404,000.00
- Total Current Liabilities: These are obligations due within one year.
- 2019: £110,611,000.00
- 2023: £275,773,000.00
While current assets have grown significantly and exceed current liabilities, the overall net worth indicates a substantial long-term debt burden relative to total assets.
