Black Hawk Acquisition Corporation (BKHA) - Net Assets
Based on the latest financial reports, Black Hawk Acquisition Corporation (BKHA) has net assets worth $20.12 Million USD as of February 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($24.82 Million) and total liabilities ($4.70 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. Explore BKHA cash generation efficiency to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $20.12 Million |
| % of Total Assets | 81.06% |
| Annual Growth Rate | 5585.55% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 534161.84 |
Black Hawk Acquisition Corporation - Net Assets Trend (2023–2025)
This chart illustrates how Black Hawk Acquisition Corporation's net assets have evolved over time, based on quarterly financial data. Also explore BKHA total assets for the complete picture of this company's asset base.
Annual Net Assets for Black Hawk Acquisition Corporation (2023–2025)
The table below shows the annual net assets of Black Hawk Acquisition Corporation from 2023 to 2025. For live valuation and market cap data, see BKHA market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-11-30 | $19.98 Million | -71.32% |
| 2024-11-30 | $69.66 Million | +1133092.73% |
| 2023-12-31 | $6.15K | 0.00% |
| 2023-11-30 | $6.15K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Black Hawk Acquisition Corporation'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 383233100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (November 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $23.83 Million | 119.25% |
| Other Components | $4.54K | 0.02% |
| Total Equity | $19.98 Million | 100.00% |
Black Hawk Acquisition Corporation Competitors by Market Cap
The table below lists competitors of Black Hawk Acquisition Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DIGITAL CHOSUN Inc
KQ:033130
|
$49.22 Million |
|
Alchemy Investments Acquisition Corp 1 Class A Ordinary Shares
NASDAQ:ALCY
|
$49.23 Million |
|
Autopedia Sukses Lestari Tbk PT
JK:ASLC
|
$49.29 Million |
|
British Land Company PLC
LSE:BLND
|
$49.30 Million |
|
ZOOZ Power Ltd. Ordinary Shares
NASDAQ:ZOOZ
|
$49.22 Million |
|
eHealth Inc
NASDAQ:EHTH
|
$49.20 Million |
|
Grove Collaborative Holdings, Inc.
NYSE:GROV
|
$49.17 Million |
|
VOC Energy Trust
NYSE:VOC
|
$49.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Black Hawk Acquisition Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 69,657,357 to 19,980,706, a change of -49,676,651 (-71.3%).
- Net income of 1,329,557 contributed positively to equity growth.
- Share repurchases of 51,010,745 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.33 Million | +6.65% |
| Share Repurchases | $51.01 Million | -255.3% |
| Other Changes | $4.54K | +0.02% |
| Total Change | $- | -71.32% |
Book Value vs Market Value Analysis
This analysis compares Black Hawk Acquisition Corporation'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: 2.97x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 17214.02x to 2.97x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2023-11-30 | $0.00 | $11.85 | x |
| 2023-12-31 | $0.00 | $11.85 | x |
| 2024-11-30 | $7.80 | $11.85 | x |
| 2025-11-30 | $3.99 | $11.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Black Hawk Acquisition Corporation 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): 6.65%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.20x
- Recent ROE (6.65%) is above the historical average (2.52%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2023 | -1.84% | 0.00% | 0.00x | 42.79x | $-727.70 |
| 2024 | 2.75% | 0.00% | 0.00x | 1.04x | $-5.05 Million |
| 2025 | 6.65% | 0.00% | 0.00x | 1.20x | $-668.51K |
Industry Comparison
This section compares Black Hawk Acquisition Corporation's net assets metrics with peer companies in the Shell Companies industry.
Industry Context
- Industry: Shell Companies
- Average net assets among peers: $113,920,392
- Average return on equity (ROE) among peers: 7.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Black Hawk Acquisition Corporation (BKHA) | $20.12 Million | -1.84% | 0.23x | $49.22 Million |
| Artius II Acquisition Inc. (AACB) | $214.29 Million | 0.06% | 0.07x | $231.95 Million |
| Artius II Acquisition Inc. Units (AACBU) | $214.29 Million | 0.06% | 0.07x | $269.37 Million |
| Ares Acquisition Corporation II (AACT) | $11.15K | -0.14% | 45.93x | $587.05 Million |
| AA Mission Acquisition Corp. (AAM) | $263.70 Million | 43.84% | 5.36x | $377.55K |
| Altenergy Acquisition Corp (AEAE) | $4.84 Million | 51.14% | 2.71x | $72.25 Million |
| Activate Energy Acquisition Corp. Class A Ordinary Share (AEAQ) | $223.53 Million | 0.00% | 0.04x | $236.80 Million |
| Aimei Health Technology Co., Ltd Ordinary Share (AFJK) | $72.31 Million | 3.53% | 0.02x | $163.82 Million |
| Aifeex Nexus Acquisition Corporation (AIFE) | $86.16 Million | -0.10% | 0.01x | $91.13 Million |
| AI TRANSPORTATION ACQUISITION CORP Ordinary shares (AITR) | $60.04 Million | -0.06% | 0.02x | $86.22 Million |
| Alchemy Investments Acquisition Corp 1 Class A Ordinary Shares (ALCY) | $41.25K | -21.21% | 8.88x | $49.23 Million |
About Black Hawk Acquisition Corporation
Black Hawk Acquisition Corporation is a blank check company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2023 and is based in Danville, California.