LEFORM (0266) - Net Assets
Based on the latest financial reports, LEFORM (0266) has net assets worth RM221.77 Million MYR (≈ $55.68 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM438.82 Million ≈ $110.17 Million USD) and total liabilities (RM217.06 Million ≈ $54.50 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. For live market cap and overall valuation, see market value of LEFORM.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM221.77 Million |
| % of Total Assets | 50.54% |
| Annual Growth Rate | 12.86% |
| 5-Year Change | 75.64% |
| 10-Year Change | N/A |
| Growth Volatility | 97.04 |
LEFORM - Net Assets Trend (2019–2024)
This chart illustrates how LEFORM's net assets have evolved over time, based on quarterly financial data.
Annual Net Assets for LEFORM (2019–2024)
The table below shows the annual net assets of LEFORM from 2019 to 2024. See LEFORM (0266) balance sheet quality index to measure how much of total assets are equity-financed.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM220.88 Million ≈ $55.46 Million |
+2.28% |
| 2023-12-31 | RM215.96 Million ≈ $54.22 Million |
-60.86% |
| 2022-12-31 | RM551.74 Million ≈ $138.52 Million |
+224.91% |
| 2021-12-31 | RM169.81 Million ≈ $42.63 Million |
+35.03% |
| 2020-12-31 | RM125.76 Million ≈ $31.57 Million |
+4.28% |
| 2019-12-31 | RM120.60 Million ≈ $30.28 Million |
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Equity Component Analysis
This analysis shows how different components contribute to LEFORM'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 66.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM23.60 Million | 10.74% |
| Common Stock | RM146.91 Million | 66.83% |
| Other Comprehensive Income | RM49.33 Million | 22.44% |
| Total Equity | RM219.84 Million | 100.00% |
LEFORM Competitors by Market Cap
The table below lists competitors of LEFORM ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hotel Mandarine Regency Tbk PT
JK:HOME
|
$65.08 Million |
|
Energous Corporation
NASDAQ:WATT
|
$65.08 Million |
|
ADYTON RESOURCES CORP.
F:701
|
$65.09 Million |
|
Adhi Commuter Properti Tbk PT
JK:ADCP
|
$65.11 Million |
|
Future Health Esg Corp
NASDAQ:FHLT
|
$65.06 Million |
|
ad pepper media International N.V
XETRA:APM
|
$65.05 Million |
|
Atlas Resources Tbk
JK:ARII
|
$65.04 Million |
|
Pliant Therapeutics Inc
NASDAQ:PLRX
|
$65.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in LEFORM's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 213,819,000 to 219,837,000, a change of 6,018,000 (2.8%).
- Net income of 2,422,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 3,596,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM2.42 Million | +1.1% |
| Other Comprehensive Income | RM3.60 Million | +1.64% |
| Total Change | RM- | 2.81% |
Book Value vs Market Value Analysis
This analysis compares LEFORM'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: 1.18x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.18x to 1.18x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | RM0.08 | RM0.18 | x |
| 2020-12-31 | RM0.08 | RM0.18 | x |
| 2021-12-31 | RM0.11 | RM0.18 | x |
| 2022-12-31 | RM0.46 | RM0.18 | x |
| 2023-12-31 | RM0.14 | RM0.18 | x |
| 2024-12-31 | RM0.15 | RM0.18 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently LEFORM 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): 1.10%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.60%
- • Asset Turnover: 0.89x
- • Equity Multiplier: 2.07x
- Recent ROE (1.10%) is below the historical average (4.70%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -1.43% | -0.49% | 0.96x | 3.02x | RM-13.60 Million |
| 2020 | 5.50% | 1.92% | 1.02x | 2.82x | RM-5.57 Million |
| 2021 | 26.68% | 11.92% | 0.96x | 2.33x | RM27.87 Million |
| 2022 | -1.32% | -1.94% | 0.19x | 3.64x | RM-62.20 Million |
| 2023 | -2.32% | -1.34% | 0.81x | 2.14x | RM-26.34 Million |
| 2024 | 1.10% | 0.60% | 0.89x | 2.07x | RM-19.56 Million |
Industry Comparison
This section compares LEFORM's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $523,597,303
- Average return on equity (ROE) among peers: 1.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| LEFORM (0266) | RM221.77 Million | -1.43% | 0.98x | $65.07 Million |
| Tashin Holdings Bhd (0211) | $272.85 Million | 1.21% | 0.31x | $16.65 Million |
| Minox International Group Berhad (0288) | $35.01 Million | 11.96% | 1.06x | $16.27 Million |
| TSA (0297) | $142.93 Million | 11.42% | 0.56x | $68.34 Million |
| Melewar Industrial Group Bhd (3778) | $311.50 Million | 2.64% | 1.23x | $12.18 Million |
| Lion Industries Corporation Bhd (4235) | $1.25 Billion | -31.20% | 1.01x | $22.22 Million |
| AYS Ventures Bhd (5021) | $459.12 Million | 4.10% | 1.43x | $26.79 Million |
| Hiap Teck Venture Bhd (5072) | $1.13 Billion | 14.52% | 0.43x | $115.92 Million |
| Mycron Steel Bhd (5087) | $252.00 Million | -6.35% | 0.92x | $19.30 Million |
| CSC Steel Holdings Bhd (5094) | $861.50 Million | 1.70% | 0.09x | $116.83 Million |
About LEFORM
Leform Berhad engages in manufacturing and trading of steel products in Malaysia. The company offers round steel pipes; steel hollow sections; oval and ellipse steel pipes; scaffolding pipes; gate channels, trolley tracks, and U-channels; guardrails; slitted steel coils; and steel sheets. It also provides transportation of streel products. The company's products are used in furniture and construc… Read more