WCE Holdings Bhd (3565) - Net Assets
Based on the latest financial reports, WCE Holdings Bhd (3565) has net assets worth RM766.95 Million MYR (≈ $192.55 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 (RM8.47 Billion ≈ $2.13 Billion USD) and total liabilities (RM7.71 Billion ≈ $1.93 Billion 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 3565 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM766.95 Million |
| % of Total Assets | 9.05% |
| Annual Growth Rate | 11.59% |
| 5-Year Change | -21.49% |
| 10-Year Change | 22.19% |
| Growth Volatility | 83.97 |
WCE Holdings Bhd - Net Assets Trend (2014–2025)
This chart illustrates how WCE Holdings Bhd's net assets have evolved over time, based on quarterly financial data. Also explore WCE Holdings Bhd asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for WCE Holdings Bhd (2014–2025)
The table below shows the annual net assets of WCE Holdings Bhd from 2014 to 2025. For live valuation and market cap data, see WCE Holdings Bhd market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | RM846.75 Million ≈ $212.59 Million |
-5.41% |
| 2024-03-31 | RM895.16 Million ≈ $224.74 Million |
-14.97% |
| 2023-03-31 | RM1.05 Billion ≈ $264.31 Million |
+7.41% |
| 2022-03-31 | RM980.17 Million ≈ $246.09 Million |
-9.12% |
| 2021-03-31 | RM1.08 Billion ≈ $270.78 Million |
-8.52% |
| 2020-03-31 | RM1.18 Billion ≈ $296.02 Million |
+68.37% |
| 2019-03-31 | RM700.26 Million ≈ $175.81 Million |
+3.01% |
| 2018-03-31 | RM679.79 Million ≈ $170.67 Million |
-0.86% |
| 2017-03-31 | RM685.66 Million ≈ $172.15 Million |
-1.06% |
| 2016-03-31 | RM693.00 Million ≈ $173.99 Million |
+4.21% |
| 2015-03-31 | RM665.00 Million ≈ $166.96 Million |
+293.49% |
| 2014-03-31 | RM169.00 Million ≈ $42.43 Million |
-32.13% |
| 2014-01-31 | RM249.00 Million ≈ $62.52 Million |
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Equity Component Analysis
This analysis shows how different components contribute to WCE Holdings Bhd'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 31688300000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | RM1.69 Billion | 176.06% |
| Other Components | RM33.98 Million | 3.55% |
| Total Equity | RM958.37 Million | 100.00% |
WCE Holdings Bhd Competitors by Market Cap
The table below lists competitors of WCE Holdings Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Gemtek Technology Co Ltd
TW:4906
|
$542.90 Million |
|
SUNSEA Telecommunications Co Ltd
SHE:002313
|
$542.93 Million |
|
MSC Income Fund, Inc.
NYSE:MSIF
|
$543.11 Million |
|
Shandong Tongda Island New Materials Co Ltd
SHE:300321
|
$543.16 Million |
|
Liberty Gold Corp
TO:LGD
|
$542.64 Million |
|
Mystate Ltd
AU:MYS
|
$542.62 Million |
|
Petpal Pet Nutrition Technology Co Ltd
SHE:300673
|
$542.47 Million |
|
Hoang Huy Investment Financial
VN:TCH
|
$542.34 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in WCE Holdings Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 975,095,000 to 958,366,000, a change of -16,729,000 (-1.7%).
- Net loss of 138,641,000 reduced equity.
- New share issuances of 121,912,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM-138.64 Million | -14.47% |
| Share Issuances | RM121.91 Million | +12.72% |
| Total Change | RM- | -1.72% |
Book Value vs Market Value Analysis
This analysis compares WCE Holdings Bhd'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: 2.12x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.96x to 2.12x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-03-31 | RM0.68 | RM0.66 | x |
| 2018-03-31 | RM0.68 | RM0.66 | x |
| 2019-03-31 | RM0.70 | RM0.66 | x |
| 2020-03-31 | RM0.31 | RM0.66 | x |
| 2021-03-31 | RM0.79 | RM0.66 | x |
| 2022-03-31 | RM0.39 | RM0.66 | x |
| 2023-03-31 | RM0.37 | RM0.66 | x |
| 2024-03-31 | RM0.33 | RM0.66 | x |
| 2025-03-31 | RM0.31 | RM0.66 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently WCE Holdings Bhd 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): -14.47%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -22.04%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 8.27x
- Recent ROE (-14.47%) is below the historical average (-3.40%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 4.14% | 5.08% | 0.22x | 3.72x | RM-38.10 Million |
| 2017 | 5.13% | 4.30% | 0.28x | 4.29x | RM-33.41 Million |
| 2018 | 3.69% | 2.89% | 0.21x | 6.08x | RM-42.91 Million |
| 2019 | 2.92% | 2.69% | 0.16x | 6.84x | RM-49.56 Million |
| 2020 | -10.57% | -4.29% | 0.15x | 16.99x | RM-67.95 Million |
| 2021 | -8.52% | -24.60% | 0.06x | 5.66x | RM-200.45 Million |
| 2022 | -11.42% | -19.03% | 0.09x | 6.36x | RM-216.64 Million |
| 2023 | 8.77% | 19.19% | 0.07x | 6.54x | RM-13.61 Million |
| 2024 | -13.72% | -21.76% | 0.08x | 7.67x | RM-231.25 Million |
| 2025 | -14.47% | -22.04% | 0.08x | 8.27x | RM-234.48 Million |
Industry Comparison
This section compares WCE Holdings Bhd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $114,229,829
- Average return on equity (ROE) among peers: 4.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| WCE Holdings Bhd (3565) | RM766.95 Million | 4.14% | 10.05x | $542.73 Million |
| Southern Score Builders Berhad (0045) | $157.71 Million | 19.94% | 0.51x | $313.81 Million |
| Ecobuilt Holdings Bhd (0059) | $123.81 Million | 5.35% | 0.72x | $3.17 Million |
| Mega Sun City Holdings Bhd (0081) | $46.69 Million | 9.08% | 0.06x | $3.72 Million |
| Waja Konsortium Bhd (0102) | $24.95 Million | -26.83% | 0.75x | $9.80 Million |
| Kelington Group Bhd (0151) | $155.53 Million | 15.70% | 0.95x | $1.41 Billion |
| Widad Group Bhd (0162) | $27.35 Million | 5.83% | 1.21x | $7.84 Million |
| Pasukhas Group Bhd (0177) | $153.30 Million | -14.88% | 0.31x | $3.11 Million |
| HSS Engineers Bhd (0185) | $259.12 Million | 7.90% | 0.45x | $54.89 Million |
| Cabnet Holdings Bhd (0191) | $47.04 Million | 10.04% | 0.23x | $11.22 Million |
| Inta Bina Group Bhd (0192) | $146.80 Million | 8.03% | 1.63x | $59.42 Million |
About WCE Holdings Bhd
WCE Holdings Berhad, an investment holding company, engages in the construction, management, and tolling of highway operation in Malaysia. It operates through Toll Concession, Construction, and Others segments. The company designs, develops, and constructs the West Coast Expressway Project, as well as manages its toll operations; and offers construction contracting and project management services… Read more