Vulcan Steel Ltd
Vulcan Steel Limited, together with its subsidiaries, engages in the sale and distribution of steel and metal products in New Zealand and Australia. It operates through Steel and Metals segments. The company sells steel hollows; merchant products, including bars, angles, beams, channels, and unprocessed coils and plates; stainless steel products, such as fittings and sheets; and high-performance … Read more
Vulcan Steel Ltd (VSL) - Net Assets
Latest net assets as of December 2025: AU$288.69 Million AUD
Based on the latest financial reports, Vulcan Steel Ltd (VSL) has net assets worth AU$288.69 Million AUD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$1.08 Billion) and total liabilities (AU$787.93 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$288.69 Million |
| % of Total Assets | 26.81% |
| Annual Growth Rate | 4.95% |
| 5-Year Change | 97.59% |
| 10-Year Change | N/A |
| Growth Volatility | 37.76 |
Vulcan Steel Ltd - Net Assets Trend (2018–2025)
This chart illustrates how Vulcan Steel 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 Vulcan Steel Ltd (2018–2025)
The table below shows the annual net assets of Vulcan Steel Ltd from 2018 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$169.65 Million | -1.40% |
| 2024-06-30 | AU$172.06 Million | -7.46% |
| 2023-06-30 | AU$185.92 Million | +11.27% |
| 2022-06-30 | AU$167.09 Million | +94.60% |
| 2021-06-30 | AU$85.86 Million | -36.39% |
| 2020-06-30 | AU$134.97 Million | -3.99% |
| 2019-06-30 | AU$140.58 Million | +16.19% |
| 2018-06-30 | AU$120.99 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Vulcan Steel 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 grown by 49.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$148.45 Million | 87.50% |
| Common Stock | AU$11.99 Million | 7.07% |
| Other Comprehensive Income | AU$9.22 Million | 5.43% |
| Total Equity | AU$169.65 Million | 100.00% |
Vulcan Steel Ltd Competitors by Market Cap
The table below lists competitors of Vulcan Steel Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Onity Group Inc.
NYSE:ONIT
|
$262.02 Million |
|
WIIT S.P.A.
F:9PC
|
$262.05 Million |
|
Dongrui Food Group Co Ltd
SHE:001201
|
$262.05 Million |
|
Tianjin Binhai Energy & Development Co Ltd
SHE:000695
|
$262.05 Million |
|
Nanjing Shenghang Shipping Co Ltd
SHE:001205
|
$262.01 Million |
|
BRDR. A+O JOH. B DK 1
F:XH0
|
$261.98 Million |
|
Changshu Ruite Electric Co Ltd
SHE:300600
|
$261.89 Million |
|
Hangzhou Jiebai Group Co Ltd
SHG:600814
|
$261.87 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vulcan Steel Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 172,056,000 to 169,653,000, a change of -2,403,000 (-1.4%).
- Net income of 15,728,000 contributed positively to equity growth.
- Dividend payments of 19,361,000 reduced retained earnings.
- Other comprehensive income increased equity by 5,474,000.
- Other factors decreased equity by 4,244,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$15.73 Million | +9.27% |
| Dividends Paid | AU$19.36 Million | -11.41% |
| Other Comprehensive Income | AU$5.47 Million | +3.23% |
| Other Changes | AU$-4.24 Million | -2.5% |
| Total Change | AU$- | -1.40% |
Book Value vs Market Value Analysis
This analysis compares Vulcan Steel 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: 4.91x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 7.09x to 4.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-06-30 | AU$0.88 | AU$6.26 | x |
| 2019-06-30 | AU$1.02 | AU$6.26 | x |
| 2020-06-30 | AU$1.03 | AU$6.26 | x |
| 2021-06-30 | AU$0.65 | AU$6.26 | x |
| 2022-06-30 | AU$1.27 | AU$6.26 | x |
| 2023-06-30 | AU$1.41 | AU$6.26 | x |
| 2024-06-30 | AU$1.31 | AU$6.26 | x |
| 2025-06-30 | AU$1.27 | AU$6.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vulcan Steel 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): 9.27%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.66%
- • Asset Turnover: 1.10x
- • Equity Multiplier: 5.06x
- Recent ROE (9.27%) is below the historical average (38.57%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 36.16% | 7.73% | 1.64x | 2.84x | AU$30.33 Million |
| 2019 | 23.25% | 4.64% | 1.70x | 2.95x | AU$17.75 Million |
| 2020 | 23.98% | 4.98% | 1.17x | 4.12x | AU$18.87 Million |
| 2021 | 71.16% | 8.35% | 1.26x | 6.76x | AU$52.51 Million |
| 2022 | 74.20% | 12.80% | 1.35x | 4.29x | AU$107.28 Million |
| 2023 | 47.28% | 7.06% | 1.24x | 5.40x | AU$69.31 Million |
| 2024 | 23.24% | 3.76% | 1.17x | 5.27x | AU$22.78 Million |
| 2025 | 9.27% | 1.66% | 1.10x | 5.06x | AU$-1.24 Million |
Industry Comparison
This section compares Vulcan Steel Ltd's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $40,434,098
- Average return on equity (ROE) among peers: -18.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vulcan Steel Ltd (VSL) | AU$288.69 Million | 36.16% | 2.73x | $262.02 Million |
| BCI Minerals Ltd (BCI) | $5.03 Million | -14.90% | 0.04x | $342.29 Million |
| Bisalloy Steel Group Ltd (BIS) | $58.08 Million | -7.09% | 2.55x | $82.82 Million |
| Equinox Resources Ltd (EQN) | $15.42 Million | -7.94% | 0.03x | $3.12 Million |
| Equatorial Resources Ltd (EQX) | $70.15 Million | -9.19% | 0.03x | $8.75 Million |
| FENIX Resources Ltd (FEX) | $4.02 Million | -19.24% | 0.13x | $92.21 Million |
| Grange Resources Ltd (GRR) | $3.96 Million | 1.34% | 0.02x | $68.42 Million |
| GWR Group Ltd (GWR) | $31.69 Million | -14.29% | 0.02x | $20.10 Million |
| Macro Metals Ltd (M4M) | $6.30 Million | -109.34% | 0.21x | $9.50 Million |
| Pearl Gull Iron Ltd (PLG) | $-1.88 Million | 0.00% | 0.00x | $2.39 Million |
| Sims Ltd (SGM) | $211.56 Million | 0.21% | 0.96x | $1.85 Billion |