Thungela Resources Limited (TGA) - Net Assets
Based on the latest financial reports, Thungela Resources Limited (TGA) has net assets worth ZAC16.18 Billion ZAC (≈ $8.60 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 (ZAC37.78 Billion ≈ $20.08 Million USD) and total liabilities (ZAC21.61 Billion ≈ $11.48 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. Also explore how large is Thungela Resources Limited's balance sheet for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ZAC16.18 Billion |
| % of Total Assets | 42.82% |
| Annual Growth Rate | 5.21% |
| 5-Year Change | -12.43% |
| 10-Year Change | N/A |
| Growth Volatility | 48.19 |
Thungela Resources Limited - Net Assets Trend (2017–2025)
This chart illustrates how Thungela Resources Limited's net assets have evolved over time, based on quarterly financial data. Check tangible equity quality of Thungela Resources Limited to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Thungela Resources Limited (2017–2025)
The table below shows the annual net assets of Thungela Resources Limited from 2017 to 2025. For live valuation and market cap data, see market cap of Thungela Resources Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ZAC16.18 Billion ≈ $8.60 Million |
-38.02% |
| 2024-12-31 | ZAC26.10 Billion ≈ $13.87 Million |
+6.13% |
| 2023-12-31 | ZAC24.60 Billion ≈ $13.07 Million |
-5.97% |
| 2022-12-31 | ZAC26.16 Billion ≈ $13.90 Million |
+41.60% |
| 2021-12-31 | ZAC18.47 Billion ≈ $9.82 Million |
+121.91% |
| 2020-12-31 | ZAC8.32 Billion ≈ $4.42 Million |
+24.76% |
| 2019-12-31 | ZAC6.67 Billion ≈ $3.55 Million |
-37.76% |
| 2018-12-31 | ZAC10.72 Billion ≈ $5.70 Million |
-0.50% |
| 2017-12-31 | ZAC10.78 Billion ≈ $5.73 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Thungela Resources Limited'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 543000000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC5.43 Billion | 33.91% |
| Common Stock | ZAC11.32 Billion | 70.72% |
| Other Comprehensive Income | ZAC-167.00 Million | -1.04% |
| Total Equity | ZAC16.01 Billion | 100.00% |
Thungela Resources Limited Competitors by Market Cap
The table below lists competitors of Thungela Resources Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Lifotronic Technology Co
SHG:688389
|
$684.69 Million |
|
Bally's Corp
NYSE:BALY
|
$684.83 Million |
|
Unionman Technology Co. Ltd. A
SHG:688609
|
$684.83 Million |
|
SunCoke Energy Inc
NYSE:SXC
|
$684.94 Million |
|
Gujarat State Fertilizers & Chemicals Limited
NSE:GSFC
|
$684.50 Million |
|
Shandong Link Science and Technology Co Ltd
SHE:001207
|
$684.01 Million |
|
Aura Biosciences Inc
NASDAQ:AURA
|
$683.95 Million |
|
REVO INSURANCE SPA O.N.
F:H0O
|
$683.94 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thungela Resources Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 25,560,000,000 to 16,012,000,000, a change of -9,548,000,000 (-37.4%).
- Net loss of 7,085,000,000 reduced equity.
- Dividend payments of 1,670,000,000 reduced retained earnings.
- Share repurchases of 772,000,000 reduced equity.
- Other comprehensive income decreased equity by 2,970,000,000.
- Other factors increased equity by 2,949,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC-7.08 Billion | -44.25% |
| Dividends Paid | ZAC1.67 Billion | -10.43% |
| Share Repurchases | ZAC772.00 Million | -4.82% |
| Other Comprehensive Income | ZAC-2.97 Billion | -18.55% |
| Other Changes | ZAC2.95 Billion | +18.42% |
| Total Change | ZAC- | -37.36% |
Book Value vs Market Value Analysis
This analysis compares Thungela Resources Limited'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: 81.95x
- 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 142.07x to 81.95x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ZAC71.23 | ZAC10120.00 | x |
| 2018-12-31 | ZAC65.42 | ZAC10120.00 | x |
| 2019-12-31 | ZAC35.26 | ZAC10120.00 | x |
| 2020-12-31 | ZAC49.85 | ZAC10120.00 | x |
| 2021-12-31 | ZAC124.05 | ZAC10120.00 | x |
| 2022-12-31 | ZAC193.12 | ZAC10120.00 | x |
| 2023-12-31 | ZAC176.03 | ZAC10120.00 | x |
| 2024-12-31 | ZAC188.03 | ZAC10120.00 | x |
| 2025-12-31 | ZAC123.50 | ZAC10120.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thungela Resources Limited 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): -44.25%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -23.94%
- • Asset Turnover: 0.78x
- • Equity Multiplier: 2.36x
- Recent ROE (-44.25%) is below the historical average (-2.50%), 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 | 50.02% | 18.17% | 1.11x | 2.49x | ZAC3.57 Billion |
| 2019 | -159.39% | -41.21% | 1.01x | 3.83x | ZAC-8.14 Billion |
| 2020 | -4.86% | -8.80% | 0.17x | 3.22x | ZAC-1.01 Billion |
| 2021 | 38.79% | 24.46% | 0.84x | 1.89x | ZAC4.77 Billion |
| 2022 | 64.66% | 33.47% | 1.25x | 1.54x | ZAC14.36 Billion |
| 2023 | 20.98% | 16.85% | 0.66x | 1.89x | ZAC2.70 Billion |
| 2024 | 14.05% | 10.10% | 0.74x | 1.88x | ZAC1.04 Billion |
| 2025 | -44.25% | -23.94% | 0.78x | 2.36x | ZAC-8.69 Billion |
Industry Comparison
This section compares Thungela Resources Limited's net assets metrics with peer companies in the Thermal Coal industry.
Industry Context
- Industry: Thermal Coal
- Average net assets among peers: $3,260,666,596
- Average return on equity (ROE) among peers: 10.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thungela Resources Limited (TGA) | ZAC16.18 Billion | 50.02% | 1.34x | $684.57 Million |
| Exxaro Resources Ltd (EXX) | $6.46 Billion | 0.00% | 1.01x | $2.54 Billion |
| Wescoal Holdings Ltd (SLG) | $58.33 Million | 20.28% | 1.68x | $18.54 Million |
About Thungela Resources Limited
Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia. It owns interests in and produces its thermal coal from mining operations, consisting of underground and open cast mines in the Mpumalanga province of South Africa, including Greenside colliery, Khwezela colliery, Zibulo colliery, Mafube colliery, and Annea colliery. The company also hol… Read more