BH Macro Limited (BHMU) - Net Assets
Based on the latest financial reports, BH Macro Limited (BHMU) has net assets worth $2.09 Billion USD as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.10 Billion) and total liabilities ($5.84 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. Read BH Macro Limited (BHMU) total liabilities for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.09 Billion |
| % of Total Assets | 99.72% |
| Annual Growth Rate | 1.71% |
| 5-Year Change | 160.7% |
| 10-Year Change | N/A |
| Growth Volatility | 38.01 |
BH Macro Limited - Net Assets Trend (2007–2024)
This chart illustrates how BH Macro Limited's net assets have evolved over time, based on quarterly financial data. Also explore BHMU current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for BH Macro Limited (2007–2024)
The table below shows the annual net assets of BH Macro Limited from 2007 to 2024. For live valuation and market cap data, see market value of BH Macro Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.98 Billion | -4.35% |
| 2023-12-31 | $2.07 Billion | +26.46% |
| 2022-12-31 | $1.64 Billion | +26.41% |
| 2021-12-31 | $1.30 Billion | +70.49% |
| 2020-12-31 | $761.17 Million | +35.98% |
| 2019-12-31 | $559.76 Million | +11.89% |
| 2018-12-31 | $500.30 Million | +7.52% |
| 2017-12-31 | $465.32 Million | -- |
| 2016-12-31 | $0.00 | -- |
| 2015-12-31 | $0.00 | -- |
| 2014-12-31 | $0.00 | -- |
| 2013-12-31 | $0.00 | -- |
| 2012-12-31 | $0.00 | -- |
| 2011-12-31 | $2.04 Billion | +11.92% |
| 2010-12-31 | $1.82 Billion | -1.93% |
| 2009-12-31 | $1.86 Billion | +13.39% |
| 2008-12-31 | $1.64 Billion | +10.22% |
| 2007-12-31 | $1.49 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to BH Macro 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 decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $1.98 Billion | 100.00% |
| Total Equity | $1.98 Billion | 100.00% |
BH Macro Limited Competitors by Market Cap
The table below lists competitors of BH Macro Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vistin Pharma ASA
OL:VISTN
|
$104.06 Million |
|
Aldeyra The
NASDAQ:ALDX
|
$104.08 Million |
|
FG Merger II Corp. Common stock
NASDAQ:FGMC
|
$104.09 Million |
|
Xtra-Gold Resources Corp
TO:XTG
|
$104.09 Million |
|
TrueBlue Inc
NYSE:TBI
|
$104.02 Million |
|
Uttam Sugar Mills Limited
NSE:UTTAMSUGAR
|
$104.00 Million |
|
Ying Han Technology Co Ltd
TW:4562
|
$103.98 Million |
|
Velo3D, Inc.
NASDAQ:VELO
|
$103.93 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BH Macro Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,074,531,000 to 1,984,343,000, a change of -90,188,000 (-4.3%).
- Net income of 58,231,000 contributed positively to equity growth.
- Share repurchases of 149,398,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $58.23 Million | +2.93% |
| Share Repurchases | $149.40 Million | -7.53% |
| Other Changes | $979.00K | +0.05% |
| Total Change | $- | -4.35% |
Book Value vs Market Value Analysis
This analysis compares BH Macro 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: 0.83x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.40x to 0.83x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $10.66 | $4.31 | x |
| 2008-12-31 | $8.60 | $4.31 | x |
| 2009-12-31 | $7.34 | $4.31 | x |
| 2010-12-31 | $5.46 | $4.31 | x |
| 2011-12-31 | $5.15 | $4.31 | x |
| 2012-12-31 | $5.26 | $4.31 | x |
| 2013-12-31 | $3.40 | $4.31 | x |
| 2014-12-31 | $3.12 | $4.31 | x |
| 2015-12-31 | $2.86 | $4.31 | x |
| 2016-12-31 | $2.66 | $4.31 | x |
| 2017-12-31 | $3.09 | $4.31 | x |
| 2018-12-31 | $2.98 | $4.31 | x |
| 2019-12-31 | $3.34 | $4.31 | x |
| 2020-12-31 | $4.45 | $4.31 | x |
| 2021-12-31 | $6.25 | $4.31 | x |
| 2022-12-31 | $5.73 | $4.31 | x |
| 2023-12-31 | $5.88 | $4.31 | x |
| 2024-12-31 | $5.21 | $4.31 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BH Macro 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): 2.93%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 38.19%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.01x
- Recent ROE (2.93%) is above the historical average (0.57%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | -0.70% | -4.85% | 0.14x | 1.00x | $-159.18 Million |
| 2008 | -17.28% | -378.25% | 0.05x | 1.00x | $-447.49 Million |
| 2009 | -1.72% | -12055.09% | 0.00x | 1.00x | $-217.91 Million |
| 2010 | -2.20% | 0.00% | 0.00x | 1.00x | $-222.54 Million |
| 2011 | -5.12% | 0.00% | -0.02x | 1.00x | $-308.56 Million |
| 2012 | 6.74% | 78.81% | 0.09x | 1.00x | $-71.23 Million |
| 2013 | 4.69% | 68.71% | 0.07x | 1.00x | $-119.34 Million |
| 2014 | -6.97% | 0.00% | -14.01x | 0.00x | $-299.14 Million |
| 2015 | -6.10% | 0.00% | -0.04x | 1.00x | $-240.71 Million |
| 2016 | -17.37% | 0.00% | -0.15x | 1.00x | $-236.73 Million |
| 2017 | 1.02% | 24.81% | 0.02x | 2.00x | $-41.81 Million |
| 2018 | 6.99% | 70.49% | 0.10x | 1.01x | $-15.05 Million |
| 2019 | 10.62% | 67.63% | 0.15x | 1.02x | $3.49 Million |
| 2020 | 23.85% | 95.86% | 0.24x | 1.05x | $105.42 Million |
| 2021 | 0.93% | 50.69% | 0.02x | 1.01x | $-117.76 Million |
| 2022 | 6.83% | 81.03% | 0.08x | 1.04x | $-51.97 Million |
| 2023 | 3.21% | 22.57% | 0.14x | 1.00x | $-140.96 Million |
| 2024 | 2.93% | 38.19% | 0.08x | 1.01x | $-140.20 Million |
Industry Comparison
This section compares BH Macro Limited's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,028,504,200
- Average return on equity (ROE) among peers: 0.99%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BH Macro Limited (BHMU) | $2.09 Billion | -0.70% | 0.00x | $104.06 Million |
| 3I Infrastructure PLC (3IN) | $3.10 Billion | 12.71% | 0.20x | $42.20 Million |
| Albion Enterprise VCT PLC (AAEV) | $278.53 Million | 5.11% | 0.01x | $3.29 Million |
| abrdn Asian Income Fund Limited (AAIF) | $329.43 Million | -11.14% | 0.12x | $5.53 Million |
| Abrdn Asia Focus PLC (AAS) | $495.01 Million | 29.59% | 0.13x | $7.78 Million |
| Albion Technology & General VCT PLC (AATG) | $106.99 Million | 18.59% | 0.01x | $3.22 Million |
| Abrdn PLC (ABDN) | $5.09 Billion | 0.02% | 0.58x | $47.91 Million |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $382.12 Million | 5.43% | 0.05x | $450.86K |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $252.67K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $82.45 Million |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $396.93 |
About BH Macro Limited
BH Macro Limited is a feeder fund launched and managed by Brevan Howard Asset Management LLP. It invests its entire corpus in the Brevan Howard Master Fund Limited. BH Macro Limited was formed on January 17, 2007 and is domiciled in Guernsey, Channel Islands.