Boustead Heavy Industries
Boustead Heavy Industries Corporation Berhad operates as a defense contractor in the marine, aerospace, and weapons and combat systems sectors primarily in Malaysia. It operates through two segments, Defence and Security, and Commercial. The Defence and Security segment engages in the maintenance, repair, and overhaul (MRO) of the Navy's patrol vessels and submarines; and manufacturing, supply, a… Read more
Boustead Heavy Industries (8133) - Net Assets
Latest net assets as of September 2025: RM92.43 Million MYR
Based on the latest financial reports, Boustead Heavy Industries (8133) has net assets worth RM92.43 Million MYR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM271.02 Million) and total liabilities (RM178.59 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM92.43 Million |
| % of Total Assets | 34.11% |
| Annual Growth Rate | -8.37% |
| 5-Year Change | 52.19% |
| 10-Year Change | -63.14% |
| Growth Volatility | 52.13 |
Boustead Heavy Industries - Net Assets Trend (2012–2024)
This chart illustrates how Boustead Heavy Industries's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Boustead Heavy Industries (2012–2024)
The table below shows the annual net assets of Boustead Heavy Industries from 2012 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM99.53 Million | -35.48% |
| 2023-12-31 | RM154.27 Million | +154.28% |
| 2022-12-31 | RM60.67 Million | -24.72% |
| 2021-12-31 | RM80.59 Million | +23.23% |
| 2020-12-31 | RM65.40 Million | -43.61% |
| 2019-12-31 | RM115.98 Million | -50.14% |
| 2018-12-31 | RM232.62 Million | -32.51% |
| 2017-12-31 | RM344.67 Million | -0.53% |
| 2016-12-31 | RM346.51 Million | +28.34% |
| 2015-12-31 | RM270.00 Million | -10.00% |
| 2014-12-31 | RM300.00 Million | +6.01% |
| 2013-12-31 | RM283.00 Million | -0.35% |
| 2012-12-31 | RM284.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Boustead Heavy Industries'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 573.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | RM427.21 Million | 429.21% |
| Other Components | RM136.09 Million | 136.73% |
| Total Equity | RM99.53 Million | 100.00% |
Boustead Heavy Industries Competitors by Market Cap
The table below lists competitors of Boustead Heavy Industries ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dan Hotels
TA:DANH
|
$11.17 Million |
|
First Tellurium Corp
OTCQB:FSTTF
|
$11.17 Million |
|
Westgate Energy Inc.
V:WGT
|
$11.17 Million |
|
LSI Software S.A.
WAR:LSI
|
$11.18 Million |
|
Triniti Dinamik PT Tbk
JK:TRUE
|
$11.16 Million |
|
Rite Aid Corporation
F:RTA1
|
$11.16 Million |
|
Niche Capital Emas Holdings
KLSE:7139
|
$11.16 Million |
|
Platinex Inc
F:9PX
|
$11.16 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Boustead Heavy Industries's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 154,267,000 to 99,535,000, a change of -54,732,000 (-35.5%).
- Net income of 7,566,000 contributed positively to equity growth.
- Dividend payments of 17,614,000 reduced retained earnings.
- Share repurchases of 44,684,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM7.57 Million | +7.6% |
| Dividends Paid | RM17.61 Million | -17.7% |
| Share Repurchases | RM44.68 Million | -44.89% |
| Total Change | RM- | -35.48% |
Book Value vs Market Value Analysis
This analysis compares Boustead Heavy Industries'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: 2.61x
- 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 0.33x to 2.61x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | RM1.39 | RM0.46 | x |
| 2017-12-31 | RM1.39 | RM0.46 | x |
| 2018-12-31 | RM0.94 | RM0.46 | x |
| 2019-12-31 | RM0.47 | RM0.46 | x |
| 2020-12-31 | RM0.26 | RM0.46 | x |
| 2021-12-31 | RM0.32 | RM0.46 | x |
| 2022-12-31 | RM0.24 | RM0.46 | x |
| 2023-12-31 | RM0.27 | RM0.46 | x |
| 2024-12-31 | RM0.18 | RM0.46 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Boustead Heavy Industries 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): 7.60%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.19%
- • Asset Turnover: 0.90x
- • Equity Multiplier: 2.65x
- Recent ROE (7.60%) is above the historical average (-42.00%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 22.13% | 24.94% | 0.43x | 2.08x | RM42.04 Million |
| 2017 | 3.07% | 3.81% | 0.42x | 1.92x | RM-23.89 Million |
| 2018 | -46.57% | -64.06% | 0.29x | 2.50x | RM-131.59 Million |
| 2019 | -100.57% | -69.05% | 0.36x | 4.04x | RM-128.23 Million |
| 2020 | -77.34% | -34.83% | 0.34x | 6.44x | RM-57.12 Million |
| 2021 | 18.85% | 10.18% | 0.33x | 5.65x | RM7.13 Million |
| 2022 | -32.84% | -14.05% | 0.29x | 7.99x | RM-25.99 Million |
| 2023 | -172.38% | -210.36% | 0.46x | 1.80x | RM-281.36 Million |
| 2024 | 7.60% | 3.19% | 0.90x | 2.65x | RM-2.39 Million |
Industry Comparison
This section compares Boustead Heavy Industries's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $401,951,130
- Average return on equity (ROE) among peers: 11.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Boustead Heavy Industries (8133) | RM92.43 Million | 22.13% | 1.93x | $11.17 Million |
| TAS Offshore Bhd (5149) | $114.59 Million | 15.35% | 0.80x | $7.76 Million |
| Destini Bhd (7212) | $481.38 Million | 6.86% | 0.42x | $11.04 Million |
| Sam Engineering Equipment (9822) | $609.89 Million | 13.09% | 0.50x | $207.98 Million |