BLACKHORSE FPO [BHL]
Black Horse Mining Limited engages in acquiring, exploring, and developing mineral resource projects in Australia. The Mt Egerton Project comprises one retention license, one granted exploration license and one exploration licence application located in Central Victoria, Australia. The company was incorporated in 2024 and is based in Subiaco, Australia.
BLACKHORSE FPO [BHL] (BHL) - Net Assets
Latest net assets as of December 2020: AU$50.59 Million AUD
Based on the latest financial reports, BLACKHORSE FPO [BHL] (BHL) has net assets worth AU$50.59 Million AUD as of December 2020.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$60.06 Million) and total liabilities (AU$9.47 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 | AU$50.59 Million |
| % of Total Assets | 84.24% |
| Annual Growth Rate | -3.67% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 8.98 |
BLACKHORSE FPO [BHL] - Net Assets Trend (2016–2020)
This chart illustrates how BLACKHORSE FPO [BHL]'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for BLACKHORSE FPO [BHL] (2016–2020)
The table below shows the annual net assets of BLACKHORSE FPO [BHL] from 2016 to 2020.
| Year | Net Assets | Change |
|---|---|---|
| 2020-12-31 | AU$50.59 Million | -14.82% |
| 2019-12-31 | AU$59.39 Million | +4.25% |
| 2018-12-31 | AU$56.97 Million | +6.67% |
| 2017-12-31 | AU$53.41 Million | -9.10% |
| 2016-12-31 | AU$58.76 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to BLACKHORSE FPO [BHL]'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 decreased by 15.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2020)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$6.82 Million | 13.56% |
| Common Stock | AU$17.61 Million | 35.04% |
| Other Comprehensive Income | AU$25.83 Million | 51.39% |
| Total Equity | AU$50.26 Million | 100.00% |
BLACKHORSE FPO [BHL] Competitors by Market Cap
The table below lists competitors of BLACKHORSE FPO [BHL] ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mayfield Childcare Ltd
AU:MFD
|
$4.28 Million |
|
The Dixie Group Inc
NASDAQ:DXYN
|
$4.29 Million |
|
Unith Ltd
AU:UNT
|
$4.29 Million |
|
Sedania Innovator Bhd
KLSE:0178
|
$4.29 Million |
|
Taruga Minerals Limited
PINK:TGGRF
|
$4.28 Million |
|
Sirakorn PCL
BK:SK
|
$4.28 Million |
|
Curro Hol
JSE:COH
|
$4.28 Million |
|
Mitra International Resources
JK:MIRA
|
$4.27 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BLACKHORSE FPO [BHL]'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2019 to 2020, total equity changed from 58,953,000 to 50,259,000, a change of -8,694,000 (-14.7%).
- Net income of 1,934,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 826,000.
- Other factors decreased equity by 9,802,000.
Equity Change Factors (2019 to 2020)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$1.93 Million | +3.85% |
| Other Comprehensive Income | AU$-826.00K | -1.64% |
| Other Changes | AU$-9.80 Million | -19.5% |
| Total Change | AU$- | -14.75% |
Book Value vs Market Value Analysis
This analysis compares BLACKHORSE FPO [BHL]'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: 1.88x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.25x to 1.88x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | AU$0.22 | AU$0.28 | x |
| 2017-12-31 | AU$0.15 | AU$0.28 | x |
| 2018-12-31 | AU$0.16 | AU$0.28 | x |
| 2019-12-31 | AU$0.17 | AU$0.28 | x |
| 2020-12-31 | AU$0.15 | AU$0.28 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BLACKHORSE FPO [BHL] utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.85%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.17%
- • Asset Turnover: 0.24x
- • Equity Multiplier: 1.20x
- Recent ROE (3.85%) is above the historical average (0.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 0.45% | 1.48% | 0.14x | 2.24x | AU$-5.57 Million |
| 2017 | -9.25% | -69.87% | 0.06x | 2.39x | AU$-10.19 Million |
| 2018 | 5.71% | 6.99% | 0.37x | 2.19x | AU$-2.43 Million |
| 2019 | 2.86% | 7.86% | 0.20x | 1.80x | AU$-4.21 Million |
| 2020 | 3.85% | 13.17% | 0.24x | 1.20x | AU$-3.09 Million |
Industry Comparison
This section compares BLACKHORSE FPO [BHL]'s net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $39,500,222
- Average return on equity (ROE) among peers: -1151.64%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BLACKHORSE FPO [BHL] (BHL) | AU$50.59 Million | 0.45% | 0.19x | $4.28 Million |
| Australasian Metals Ltd (A8G) | $7.19 Million | -3.48% | 0.03x | $1.25 Million |
| Ariana Resources Plc (AA2) | $21.37 Million | -1.02% | 0.03x | $43.13 Million |
| Aruma Resources Ltd (AAJ) | $1.10 Million | -25.68% | 0.39x | $2.13 Million |
| Astral Resources NL (AAR) | $5.74K | -11421.79% | 0.13x | $145.04 Million |
| Adelong Gold Ltd (ADG) | $4.53 Million | -12.96% | 0.02x | $6.07 Million |
| Ardiden Ltd (ADV) | $4.59 Million | -31.81% | 0.14x | $10.44 Million |
| Ark Mines Ltd (AHK) | $-5.30 Million | 0.00% | 0.00x | $7.52 Million |
| Aureka Ltd (AKA) | $3.84 Million | -18.30% | 0.11x | $6.48 Million |
| Alkane Resources Ltd (ALK) | $345.69 Million | 9.56% | 0.57x | $207.18 Million |
| Alchemy Resources Ltd (ALY) | $11.99 Million | -10.87% | 0.03x | $4.22 Million |