ITM Power
ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, rest of Europe, the United States, Australia, and internationally. Its product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-sc… Read more
ITM Power (ITM) - Net Assets
Latest net assets as of October 2025: GBX210.58 Million GBX
Based on the latest financial reports, ITM Power (ITM) has net assets worth GBX210.58 Million GBX as of October 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX340.20 Million) and total liabilities (GBX129.61 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 | GBX210.58 Million |
| % of Total Assets | 61.9% |
| Annual Growth Rate | 24.58% |
| 5-Year Change | 13.58% |
| 10-Year Change | 1827.42% |
| Growth Volatility | 480.36 |
ITM Power - Net Assets Trend (2002–2025)
This chart illustrates how ITM Power's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for ITM Power (2002–2025)
The table below shows the annual net assets of ITM Power from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-04-30 | GBX224.25 Million | -16.55% |
| 2024-04-30 | GBX268.72 Million | -9.07% |
| 2023-04-30 | GBX295.51 Million | -25.18% |
| 2022-04-30 | GBX394.95 Million | +100.03% |
| 2021-04-30 | GBX197.45 Million | +254.19% |
| 2020-04-30 | GBX55.75 Million | +112.70% |
| 2019-04-30 | GBX26.21 Million | -26.36% |
| 2018-04-30 | GBX35.59 Million | +172.31% |
| 2017-04-30 | GBX13.07 Million | +12.33% |
| 2016-04-30 | GBX11.63 Million | +12.48% |
| 2015-04-30 | GBX10.34 Million | -5.96% |
| 2014-04-30 | GBX11.00 Million | +49.07% |
| 2013-04-30 | GBX7.38 Million | -4.23% |
| 2012-04-30 | GBX7.71 Million | -44.02% |
| 2011-04-30 | GBX13.76 Million | -25.45% |
| 2010-04-30 | GBX18.46 Million | -21.39% |
| 2009-04-30 | GBX23.49 Million | -17.81% |
| 2008-04-30 | GBX28.58 Million | -12.17% |
| 2007-04-30 | GBX32.53 Million | +393.63% |
| 2006-04-30 | GBX6.59 Million | -21.93% |
| 2005-04-30 | GBX8.44 Million | +2332.85% |
| 2004-04-30 | GBX347.00K | -59.70% |
| 2003-04-30 | GBX861.00K | -39.75% |
| 2002-04-30 | GBX1.43 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to ITM Power'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 34768600000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (April 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | GBX30.87 Million | 13.77% |
| Other Comprehensive Income | GBX300.00K | 0.13% |
| Other Components | GBX540.86 Million | 241.18% |
| Total Equity | GBX224.25 Million | 100.00% |
ITM Power Competitors by Market Cap
The table below lists competitors of ITM Power ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BQYL39
SA:BQYL39
|
$47.96K |
|
Balticon
WAR:BLT
|
$48.00K |
|
191600
KO:191600
|
$48.04K |
|
KAPSCH (BZ6.SG)
STU:BZ6
|
$48.06K |
|
Philip Morris Pakistan Ltd
KAR:PMPK
|
$47.93K |
|
KERNEL HLDG
MU:0KE
|
$47.91K |
|
Nordon Indústrias Metalúrgicas S/A
SA:NORD3
|
$47.88K |
|
MDNE3F
SA:MDNE3F
|
$47.86K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ITM Power's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 268,718,000 to 224,255,000, a change of -44,463,000 (-16.5%).
- Net loss of 45,515,000 reduced equity.
- New share issuances of 118,000 increased equity.
- Other comprehensive income increased equity by 1,927,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX-45.52 Million | -20.3% |
| Share Issuances | GBX118.00K | +0.05% |
| Other Comprehensive Income | GBX1.93 Million | +0.86% |
| Other Changes | GBX-993.00K | -0.44% |
| Total Change | GBX- | -16.55% |
Book Value vs Market Value Analysis
This analysis compares ITM Power'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: 178.64x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 4167.71x to 178.64x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-04-30 | GBX0.02 | GBX64.90 | x |
| 2003-04-30 | GBX0.01 | GBX64.90 | x |
| 2004-04-30 | GBX0.00 | GBX64.90 | x |
| 2005-04-30 | GBX0.09 | GBX64.90 | x |
| 2006-04-30 | GBX0.07 | GBX64.90 | x |
| 2007-04-30 | GBX0.32 | GBX64.90 | x |
| 2008-04-30 | GBX0.28 | GBX64.90 | x |
| 2009-04-30 | GBX0.23 | GBX64.90 | x |
| 2010-04-30 | GBX0.18 | GBX64.90 | x |
| 2011-04-30 | GBX0.13 | GBX64.90 | x |
| 2012-04-30 | GBX0.07 | GBX64.90 | x |
| 2013-04-30 | GBX0.06 | GBX64.90 | x |
| 2014-04-30 | GBX0.08 | GBX64.90 | x |
| 2015-04-30 | GBX0.06 | GBX64.90 | x |
| 2016-04-30 | GBX0.06 | GBX64.90 | x |
| 2017-04-30 | GBX0.06 | GBX64.90 | x |
| 2018-04-30 | GBX0.12 | GBX64.90 | x |
| 2019-04-30 | GBX0.08 | GBX64.90 | x |
| 2020-04-30 | GBX0.14 | GBX64.90 | x |
| 2021-04-30 | GBX0.39 | GBX64.90 | x |
| 2022-04-30 | GBX0.68 | GBX64.90 | x |
| 2023-04-30 | GBX0.48 | GBX64.90 | x |
| 2024-04-30 | GBX0.44 | GBX64.90 | x |
| 2025-04-30 | GBX0.36 | GBX64.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ITM Power 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): -20.30%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -174.79%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.52x
- Recent ROE (-20.30%) is above the historical average (-39.41%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | -6.23% | 0.00% | 0.00x | 1.05x | GBX-231.90K |
| 2003 | -65.85% | 0.00% | 0.00x | 1.06x | GBX-653.10K |
| 2004 | -171.47% | 0.00% | 0.00x | 1.56x | GBX-629.70K |
| 2005 | -14.29% | 0.00% | 0.00x | 1.02x | GBX-2.05 Million |
| 2006 | -28.22% | 0.00% | 0.00x | 1.04x | GBX-2.52 Million |
| 2007 | -8.43% | 0.00% | 0.00x | 1.01x | GBX-6.00 Million |
| 2008 | -13.97% | -44355.56% | 0.00x | 1.02x | GBX-6.85 Million |
| 2009 | -21.95% | 0.00% | 0.00x | 1.02x | GBX-7.50 Million |
| 2010 | -27.36% | 0.00% | 0.00x | 1.03x | GBX-6.90 Million |
| 2011 | -41.94% | -72150.00% | 0.00x | 1.07x | GBX-7.15 Million |
| 2012 | -81.03% | -1300.63% | 0.06x | 1.13x | GBX-7.01 Million |
| 2013 | -80.00% | -6785.06% | 0.01x | 1.24x | GBX-6.64 Million |
| 2014 | -70.81% | -691.13% | 0.08x | 1.23x | GBX-8.89 Million |
| 2015 | -54.24% | -343.18% | 0.12x | 1.33x | GBX-6.65 Million |
| 2016 | -34.38% | -207.25% | 0.14x | 1.15x | GBX-5.16 Million |
| 2017 | -28.92% | -156.52% | 0.12x | 1.51x | GBX-5.09 Million |
| 2018 | -17.18% | -186.29% | 0.07x | 1.25x | GBX-9.68 Million |
| 2019 | -36.06% | -205.95% | 0.10x | 1.71x | GBX-12.07 Million |
| 2020 | -53.03% | -898.24% | 0.04x | 1.49x | GBX-35.14 Million |
| 2021 | -14.03% | -647.88% | 0.02x | 1.16x | GBX-47.44 Million |
| 2022 | -11.82% | -829.82% | 0.01x | 1.16x | GBX-86.19 Million |
| 2023 | -34.25% | -1935.38% | 0.01x | 1.36x | GBX-130.75 Million |
| 2024 | -10.13% | -164.90% | 0.04x | 1.42x | GBX-54.10 Million |
| 2025 | -20.30% | -174.79% | 0.08x | 1.52x | GBX-67.94 Million |
Industry Comparison
This section compares ITM Power's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $27,067,384
- Average return on equity (ROE) among peers: 20.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ITM Power (ITM) | GBX210.58 Million | -6.23% | 0.62x | $47.95K |
| Avingtrans Plc (AVG) | $69.29 Million | 3.62% | 0.76x | $23.48K |
| Castings PLC (CGS) | $73.23 Million | 10.43% | 0.28x | $13.94K |
| Clean Power Hydrogen PLC (CPH2) | $-37.00K | 0.00% | 0.00x | $2.75K |
| EQTEC plc (EQT) | $1.36 Million | 0.00% | 6.90x | $3.91 Million |
| Goodwin PLC (GDWN) | $29.49 Million | 29.77% | 1.79x | $179.22K |
| Graft Polymer UK PLC (GPL) | $1.54 Million | -17.79% | 0.79x | $460.92 |
| MPAC Group PLC (MPAC) | $61.83 Million | 9.19% | 0.85x | $13.26K |
| PowerHouse Energy Group Plc (PHE) | $-100.60K | 0.00% | 0.00x | $2.45K |
| Renold (RNO) | $7.00 Million | 145.71% | 27.23x | $19.97K |