Icon Offshore Bhd (5255) - Net Assets

Latest as of December 2025: RM855.57 Million MYR ≈ $214.81 Million USD

Based on the latest financial reports, Icon Offshore Bhd (5255) has net assets worth RM855.57 Million MYR (≈ $214.81 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 (RM1.38 Billion ≈ $346.64 Million USD) and total liabilities (RM525.08 Million ≈ $131.83 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 Icon Offshore Bhd liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM855.57 Million
% of Total Assets	61.97%
Annual Growth Rate	9.41%
5-Year Change	109.34%
10-Year Change	51.45%
Growth Volatility	169.24

Icon Offshore Bhd - Net Assets Trend (2012–2025)

This chart illustrates how Icon Offshore Bhd's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Icon Offshore Bhd for the complete picture of this company's asset base.

Annual Net Assets for Icon Offshore Bhd (2012–2025)

The table below shows the annual net assets of Icon Offshore Bhd from 2012 to 2025. For live valuation and market cap data, see market cap of Icon Offshore Bhd.

Year	Net Assets	Change
2025-12-31	RM855.57 Million ≈ $214.81 Million	+87.06%
2024-12-31	RM457.38 Million ≈ $114.83 Million	+21.22%
2023-12-31	RM377.33 Million ≈ $94.73 Million	-6.26%
2022-12-31	RM402.52 Million ≈ $101.06 Million	-1.51%
2021-12-31	RM408.70 Million ≈ $102.61 Million	+17.77%
2020-12-31	RM347.03 Million ≈ $87.13 Million	+604.71%
2019-12-31	RM49.24 Million ≈ $12.36 Million	-10.52%
2018-12-31	RM55.04 Million ≈ $13.82 Million	-89.07%
2017-12-31	RM503.73 Million ≈ $126.47 Million	-10.83%
2016-12-31	RM564.91 Million ≈ $141.83 Million	-21.41%
2015-12-31	RM718.83 Million ≈ $180.47 Million	-33.48%
2014-12-31	RM1.08 Billion ≈ $271.30 Million	+184.85%
2013-12-31	RM379.36 Million ≈ $95.25 Million	+42.75%
2012-12-31	RM265.76 Million ≈ $66.72 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Icon Offshore 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 grown by 794.7% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	RM71.96 Million	8.84%
Common Stock	RM857.02 Million	105.24%
Total Equity	RM814.31 Million	100.00%

Icon Offshore Bhd Competitors by Market Cap

The table below lists competitors of Icon Offshore Bhd ranked by their market capitalization.

Company	Market Cap
Malam Team TA:MLTM	$492.73 Million
Teck Resources Limited F:TPT	$493.10 Million
Shenzhen Ridge Engineering Consulting Co. Ltd. SHE:300977	$493.18 Million
Dream Finders Homes Inc NYSE:DFH	$493.28 Million
Braiin Limited Common Stock NASDAQ:BRAI	$492.55 Million
Hailun Piano Co Ltd SHE:300329	$492.54 Million
Websol Energy System Limited NSE:WEBELSOLAR	$492.46 Million
B&S Group SA AS:BSGR	$492.44 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Icon Offshore Bhd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 440,923,000 to 814,312,241, a change of 373,389,241 (84.7%).
Net income of 100,383,038 contributed positively to equity growth.
Dividend payments of 22,011,679 reduced retained earnings.
New share issuances of 33,855,121 increased equity.
Other factors increased equity by 261,162,761.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM100.38 Million	+12.33%
Dividends Paid	RM22.01 Million	-2.7%
Share Issuances	RM33.86 Million	+4.16%
Other Changes	RM261.16 Million	+32.07%
Total Change	RM-	84.68%

Book Value vs Market Value Analysis

This analysis compares Icon Offshore 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: 1.92x
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 0.03x to 1.92x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2012-12-31	RM56.44	RM1.68	x
2013-12-31	RM80.57	RM1.68	x
2014-12-31	RM337.12	RM1.68	x
2015-12-31	RM152.40	RM1.68	x
2016-12-31	RM1.66	RM1.68	x
2017-12-31	RM1.48	RM1.68	x
2018-12-31	RM0.16	RM1.68	x
2019-12-31	RM0.14	RM1.68	x
2020-12-31	RM0.13	RM1.68	x
2021-12-31	RM0.69	RM1.68	x
2022-12-31	RM0.67	RM1.68	x
2023-12-31	RM0.64	RM1.68	x
2024-12-31	RM0.74	RM1.68	x
2025-12-31	RM0.88	RM1.68	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Icon Offshore 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): 12.33%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 34.66%
• Asset Turnover: 0.21x
• Equity Multiplier: 1.70x
Recent ROE (12.33%) is above the historical average (-57.69%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2012	3.03%	7.41%	0.07x	5.52x	RM-18.53 Million
2013	29.95%	33.92%	0.21x	4.15x	RM75.66 Million
2014	5.49%	18.61%	0.18x	1.65x	RM-48.71 Million
2015	-50.74%	-136.58%	0.18x	2.12x	RM-435.85 Million
2016	-27.04%	-67.31%	0.16x	2.45x	RM-209.24 Million
2017	-12.33%	-30.35%	0.16x	2.60x	RM-112.47 Million
2018	-819.81%	-225.88%	0.25x	14.34x	RM-456.69 Million
2019	-20.34%	-4.98%	0.27x	15.32x	RM-14.94 Million
2020	8.00%	13.09%	0.27x	2.25x	RM-6.93 Million
2021	6.06%	7.55%	0.31x	2.58x	RM-14.78 Million
2022	46.29%	87.35%	0.26x	2.06x	RM132.43 Million
2023	1.41%	2.43%	0.27x	2.10x	RM-29.68 Million
2024	9.99%	18.68%	0.34x	1.58x	RM-45.15K
2025	12.33%	34.66%	0.21x	1.70x	RM18.95 Million

Industry Comparison

This section compares Icon Offshore Bhd's net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.

Industry Context

Industry: Oil & Gas Equipment & Services
Average net assets among peers: $667,776,267
Average return on equity (ROE) among peers: 0.52%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Icon Offshore Bhd (5255)	RM855.57 Million	3.03%	0.61x	$492.70 Million
Reservoir Link Energy Bhd (0219)	$16.93 Million	-21.70%	0.64x	$25.20 Million
Ocean Vantage Holdings Bhd (0220)	$8.29 Million	32.67%	5.99x	$23.21 Million
Coastal Contracts Bhd (5071)	$1.43 Billion	13.22%	0.46x	$188.98 Million
Marine & General Bhd (5078)	$249.00 Million	-11.92%	9.14x	$65.35 Million
Alam Maritim Resources Bhd (5115)	$331.30 Million	-23.99%	0.96x	$34.68 Million
Deleum Bhd (5132)	$246.00 Million	17.89%	0.68x	$128.04 Million
Petra Energy Bhd (5133)	$417.59 Million	-27.35%	0.99x	$56.40 Million
Dayang Enterprise Holdings Bhd (5141)	$666.43 Million	22.40%	0.48x	$540.66 Million
Wah Seong Corporation Bhd (5142)	$678.91 Million	-0.93%	3.00x	$166.22 Million
Malaysia Marine and Heavy Engineering Holdings Bhd (5186)	$2.64 Billion	4.93%	0.69x	$150.64 Million

About Icon Offshore Bhd

KLSE:5255 Malaysia Oil & Gas Equipment & Services

Market Cap

$492.70 Million

RM1.96 Billion MYR

Market Cap Rank

#12690 Global

#132 in Malaysia

Share Price

RM1.68

Change (1 day)

-1.75%

52-Week Range

RM0.76 - RM2.24

All Time High

RM4.24