HAV GROUP ASA (6HH) - Net Assets
Based on the latest financial reports, HAV GROUP ASA (6HH) has net assets worth €91.39 Million EUR (≈ $106.85 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€685.06 Million ≈ $800.90 Million USD) and total liabilities (€593.66 Million ≈ $694.05 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. Check tangible net worth ratio of HAV GROUP ASA to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €91.39 Million |
| % of Total Assets | 13.34% |
| Annual Growth Rate | -12.01% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 12.31 |
HAV GROUP ASA - Net Assets Trend (2021–2025)
This chart illustrates how HAV GROUP ASA's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of HAV GROUP ASA to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for HAV GROUP ASA (2021–2025)
The table below shows the annual net assets of HAV GROUP ASA from 2021 to 2025. For live valuation and market cap data, see HAV GROUP ASA market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €91.39 Million ≈ $106.85 Million |
+5.66% |
| 2024-12-31 | €86.50 Million ≈ $101.12 Million |
-5.13% |
| 2023-12-31 | €91.17 Million ≈ $106.59 Million |
-18.99% |
| 2022-12-31 | €112.54 Million ≈ $131.57 Million |
-26.19% |
| 2021-12-31 | €152.48 Million ≈ $178.26 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to HAV GROUP ASA'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 223.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €122.20 Million | 133.25% |
| Total Equity | €91.71 Million | 100.00% |
HAV GROUP ASA Competitors by Market Cap
The table below lists competitors of HAV GROUP ASA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Experience Co Ltd
AU:EXP
|
$41.65 Million |
|
FFI Holdings Ltd
AU:FFI
|
$41.69 Million |
|
3I Infrastructure PLC
LSE:3IN
|
$41.69 Million |
|
JC Chemical Co. Ltd
KQ:137950
|
$41.73 Million |
|
Woowon Development Co. Ltd
KQ:046940
|
$41.65 Million |
|
Hunan Tyen Machinery Co Ltd B
SHG:900946
|
$41.63 Million |
|
Componenta Corp
HE:CTH1V
|
$41.63 Million |
|
Goa Carbon Limited
NSE:GOACARBON
|
$41.62 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in HAV GROUP ASA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 86,777,000 to 91,706,000, a change of 4,929,000 (5.7%).
- Net income of 4,539,000 contributed positively to equity growth.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €4.54 Million | +4.95% |
| Other Changes | €390.00K | +0.43% |
| Total Change | €- | 5.68% |
Book Value vs Market Value Analysis
This analysis compares HAV GROUP ASA'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: 0.46x
- 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.
- The price-to-book ratio has increased from 0.29x to 0.46x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €4.16 | €1.21 | x |
| 2022-12-31 | €3.30 | €1.21 | x |
| 2023-12-31 | €2.81 | €1.21 | x |
| 2024-12-31 | €2.48 | €1.21 | x |
| 2025-12-31 | €2.62 | €1.21 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently HAV GROUP ASA 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): 4.95%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.57%
- • Asset Turnover: 1.17x
- • Equity Multiplier: 7.47x
- Recent ROE (4.95%) is above the historical average (1.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 52.19% | 8.26% | 1.56x | 4.06x | €61.19 Million |
| 2022 | -0.43% | -0.08% | 1.30x | 4.36x | €-11.47 Million |
| 2023 | -4.86% | -0.70% | 1.44x | 4.81x | €-13.21 Million |
| 2024 | -42.70% | -4.88% | 1.26x | 6.93x | €-45.73 Million |
| 2025 | 4.95% | 0.57% | 1.17x | 7.47x | €-4.63 Million |
Industry Comparison
This section compares HAV GROUP ASA's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $39,150,396,620
- Average return on equity (ROE) among peers: -5.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| HAV GROUP ASA (6HH) | €91.39 Million | 52.19% | 6.50x | $41.65 Million |
| 2020 Bulkers Ltd. (0FF) | $148.40 Million | 19.88% | 0.82x | $7.80 Million |
| EURODRY LTD. DL -01 (0LQ) | $105.59 Million | -11.94% | 1.08x | $52.61 Million |
| Qingdao Port International Co. Ltd (0QP) | $38.78 Billion | 10.22% | 0.56x | $1.02 Billion |
| ZIM Integrated Shipping Services Ltd. (2SV) | $2.46 Billion | -109.67% | 2.40x | $2.63 Billion |
| MERCANTILE PORTS+LOGI.LTD (9KS0) | $73.63 Million | -28.82% | 0.72x | $178.16K |
| Ardmore Shipping Corporation (A61) | $232.36 Million | -1.65% | 0.54x | $651.21 Million |
| BW LPG Limited (BW9) | $1.94 Billion | 18.29% | 0.71x | $2.25 Billion |
| COSCO SHIPPING Holdings Co. Ltd (C6G) | $253.52 Billion | 43.23% | 1.02x | $4.85 Billion |
| A.P.MOELL-M.B U.ADR 1/200 (DP4H) | $55.09 Billion | 6.94% | 0.50x | $11.30 Billion |
About HAV GROUP ASA
HAV Group ASA, through its subsidiaries, provides technology and services for maritime and marine industries worldwide. It operates through HAV Design, Norwegian Electric Systems, Norwegian Greentech, and HAV Hydrogen segments. The company engages in development, sale, and delivery of ship design, project engineering, and system packages for offshore, transport, and fishing vessels; and delivers … Read more