Midway Ltd
Midway Limited engages in the production, processing, marketing, and export of woodfibre in Australia, China, Japan, and Southeast Asia. It operates through Woodfibre, Plantation and Carbon Management, and Ancillary segments. The company provides plantation management services, comprising silviculture services combined with carbon management activities; and purchases and sells third party wood. M… Read more
Midway Ltd (MWY) - Net Assets
Latest net assets as of June 2024: AU$146.40 Million AUD
Based on the latest financial reports, Midway Ltd (MWY) has net assets worth AU$146.40 Million AUD as of June 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$217.45 Million) and total liabilities (AU$71.04 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$146.40 Million |
| % of Total Assets | 67.33% |
| Annual Growth Rate | -0.56% |
| 5-Year Change | 12.51% |
| 10-Year Change | 3.78% |
| Growth Volatility | 17.22 |
Midway Ltd - Net Assets Trend (2011–2024)
This chart illustrates how Midway Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Midway Ltd (2011–2024)
The table below shows the annual net assets of Midway Ltd from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-06-30 | AU$146.40 Million | +15.30% |
| 2023-06-30 | AU$126.98 Million | +1.75% |
| 2022-06-30 | AU$124.80 Million | -5.63% |
| 2021-06-30 | AU$132.24 Million | +1.63% |
| 2020-06-30 | AU$130.12 Million | -8.79% |
| 2019-06-30 | AU$142.66 Million | +43.77% |
| 2018-06-30 | AU$99.23 Million | +8.99% |
| 2017-06-30 | AU$91.05 Million | +0.55% |
| 2016-06-30 | AU$90.55 Million | -35.82% |
| 2015-06-30 | AU$141.07 Million | +8.65% |
| 2014-06-30 | AU$129.85 Million | -5.84% |
| 2013-06-30 | AU$137.90 Million | -11.20% |
| 2012-06-30 | AU$155.29 Million | -1.37% |
| 2011-06-30 | AU$157.45 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Midway Ltd'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 154.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$64.89 Million | 44.88% |
| Other Comprehensive Income | AU$116.90 Million | 80.85% |
| Total Equity | AU$144.57 Million | 100.00% |
Midway Ltd Competitors by Market Cap
The table below lists competitors of Midway Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vior Inc
OTCQB:VIORF
|
$35.22 Million |
|
Supercom Ltd
NASDAQ:SPCB
|
$35.23 Million |
|
CompX International Inc
NYSE MKT:CIX
|
$35.23 Million |
|
Piscines Desjoyaux SA
PA:ALPDX
|
$35.23 Million |
|
Copenhagen Capital A/S 40% Pfd.
CO:CPHCAP-PREF32
|
$35.19 Million |
|
Single Well Industrial
TWO:3490
|
$35.19 Million |
|
Jeil Steel Mfg Co. Ltd
KQ:023440
|
$35.18 Million |
|
GUNOSY INC.
F:6GU
|
$35.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Midway Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 125,270,000 to 144,575,000, a change of 19,305,000 (15.4%).
- Net income of 858,000 contributed positively to equity growth.
- Dividend payments of 4,367,000 reduced retained earnings.
- Other comprehensive income increased equity by 24,970,000.
- Other factors decreased equity by 2,156,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$858.00K | +0.59% |
| Dividends Paid | AU$4.37 Million | -3.02% |
| Other Comprehensive Income | AU$24.97 Million | +17.27% |
| Other Changes | AU$-2.16 Million | -1.49% |
| Total Change | AU$- | 15.41% |
Book Value vs Market Value Analysis
This analysis compares Midway Ltd'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: 0.76x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-06-30 | AU$1.82 | AU$1.22 | x |
| 2014-06-30 | AU$1.72 | AU$1.22 | x |
| 2015-06-30 | AU$1.87 | AU$1.22 | x |
| 2016-06-30 | AU$1.19 | AU$1.22 | x |
| 2017-06-30 | AU$1.19 | AU$1.22 | x |
| 2018-06-30 | AU$1.30 | AU$1.22 | x |
| 2019-06-30 | AU$1.67 | AU$1.22 | x |
| 2020-06-30 | AU$1.47 | AU$1.22 | x |
| 2021-06-30 | AU$1.50 | AU$1.22 | x |
| 2022-06-30 | AU$1.41 | AU$1.22 | x |
| 2023-06-30 | AU$1.43 | AU$1.22 | x |
| 2024-06-30 | AU$1.61 | AU$1.22 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Midway Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.59%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.31%
- • Asset Turnover: 1.27x
- • Equity Multiplier: 1.50x
- Recent ROE (0.59%) is below the historical average (5.83%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | -2.59% | -4.37% | 0.37x | 1.61x | AU$-17.11 Million |
| 2014 | 1.80% | 2.42% | 0.45x | 1.65x | AU$-10.54 Million |
| 2015 | 13.33% | 12.83% | 0.64x | 1.61x | AU$4.66 Million |
| 2016 | 29.40% | 12.52% | 1.34x | 1.76x | AU$17.27 Million |
| 2017 | 16.60% | 6.97% | 1.38x | 1.73x | AU$5.90 Million |
| 2018 | 18.80% | 7.78% | 1.25x | 1.93x | AU$8.60 Million |
| 2019 | 18.27% | 8.91% | 1.04x | 1.96x | AU$11.68 Million |
| 2020 | -9.37% | -4.65% | 0.99x | 2.03x | AU$-24.85 Million |
| 2021 | -4.09% | -1.91% | 1.07x | 2.01x | AU$-18.47 Million |
| 2022 | -10.50% | -6.70% | 0.72x | 2.18x | AU$-25.32 Million |
| 2023 | -2.24% | -1.49% | 0.97x | 1.56x | AU$-15.33 Million |
| 2024 | 0.59% | 0.31% | 1.27x | 1.50x | AU$-13.60 Million |
Industry Comparison
This section compares Midway Ltd's net assets metrics with peer companies in the Lumber & Wood Production industry.
Industry Context
- Industry: Lumber & Wood Production
- Average net assets among peers: $34,760,000
- Average return on equity (ROE) among peers: 0.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Midway Ltd (MWY) | AU$146.40 Million | -2.59% | 0.49x | $35.21 Million |
| Big River Industries Ltd (BRI) | $34.76 Million | 0.00% | 1.44x | $18.82 Million |