EuroDry Ltd (EDRY) - Net Assets
Based on the latest financial reports, EuroDry Ltd (EDRY) has net assets worth $98.98 Million USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($202.11 Million) and total liabilities ($103.13 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. Check EuroDry Ltd (EDRY) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $98.98 Million |
| % of Total Assets | 48.97% |
| Annual Growth Rate | 16.51% |
| 5-Year Change | 108.93% |
| 10-Year Change | N/A |
| Growth Volatility | 35.28 |
EuroDry Ltd - Net Assets Trend (2016–2024)
This chart illustrates how EuroDry Ltd's net assets have evolved over time, based on quarterly financial data. Also explore EuroDry Ltd balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for EuroDry Ltd (2016–2024)
The table below shows the annual net assets of EuroDry Ltd from 2016 to 2024. For live valuation and market cap data, see EDRY company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $105.59 Million | -11.59% |
| 2023-12-31 | $119.43 Million | +4.82% |
| 2022-12-31 | $113.94 Million | +44.37% |
| 2021-12-31 | $78.92 Million | +56.16% |
| 2020-12-31 | $50.54 Million | -10.59% |
| 2019-12-31 | $56.53 Million | -9.26% |
| 2018-12-31 | $62.30 Million | +89.57% |
| 2017-12-31 | $32.86 Million | +5.68% |
| 2016-12-31 | $31.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to EuroDry Ltd'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 3946484800.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $28.96 Million | 29.93% |
| Common Stock | $28.27K | 0.03% |
| Other Components | $67.75 Million | 70.04% |
| Total Equity | $96.74 Million | 100.00% |
EuroDry Ltd Competitors by Market Cap
The table below lists competitors of EuroDry Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bantas Bandirma Ambalaj Sanayi ve Ticaret AS
IS:BNTAS
|
$36.41 Million |
|
WESTBRIDGE RE. EN. CORP.
F:PUQ
|
$36.41 Million |
|
Mepet Metro Petrol ve Tesisleri Sanayi Ticaret AS
IS:MEPET
|
$36.45 Million |
|
01 Communique Laboratory Inc
V:ONE
|
$36.45 Million |
|
Hunt Electronic Co Ltd
TWO:3297
|
$36.40 Million |
|
AViTA Corporation
TWO:4735
|
$36.39 Million |
|
Eternal Energy Public Company Limited
BK:EE
|
$36.39 Million |
|
Vext Science Inc
F:VV5
|
$36.39 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in EuroDry Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 109,662,297 to 96,737,883, a change of -12,924,414 (-11.8%).
- Net loss of 9,655,874 reduced equity.
- Share repurchases of 1,272,627 reduced equity.
- Other factors decreased equity by 1,995,913.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-9.66 Million | -9.98% |
| Share Repurchases | $1.27 Million | -1.32% |
| Other Changes | $-2.00 Million | -2.06% |
| Total Change | $- | -11.79% |
Book Value vs Market Value Analysis
This analysis compares EuroDry Ltd'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: 0.57x
- 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 decreased from 1.47x to 0.57x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $13.79 | $20.27 | x |
| 2017-12-31 | $14.57 | $20.27 | x |
| 2018-12-31 | $27.90 | $20.27 | x |
| 2019-12-31 | $25.11 | $20.27 | x |
| 2020-12-31 | $22.21 | $20.27 | x |
| 2021-12-31 | $30.96 | $20.27 | x |
| 2022-12-31 | $39.43 | $20.27 | x |
| 2023-12-31 | $39.69 | $20.27 | x |
| 2024-12-31 | $35.47 | $20.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently EuroDry Ltd 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): -9.98%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.81%
- • Asset Turnover: 0.28x
- • Equity Multiplier: 2.27x
- Recent ROE (-9.98%) is below the historical average (1.83%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | -32.61% | -128.71% | 0.09x | 2.79x | $-13.25 Million |
| 2017 | 2.59% | 4.44% | 0.20x | 2.97x | $-2.44 Million |
| 2018 | 1.80% | 4.57% | 0.19x | 2.05x | $-5.11 Million |
| 2019 | 0.03% | 0.06% | 0.23x | 2.08x | $-5.64 Million |
| 2020 | -11.63% | -26.37% | 0.21x | 2.13x | $-10.93 Million |
| 2021 | 39.47% | 48.34% | 0.40x | 2.04x | $23.26 Million |
| 2022 | 29.44% | 47.79% | 0.35x | 1.75x | $22.15 Million |
| 2023 | -2.65% | -6.11% | 0.21x | 2.11x | $-13.88 Million |
| 2024 | -9.98% | -15.81% | 0.28x | 2.27x | $-19.33 Million |
Industry Comparison
This section compares EuroDry Ltd's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $554,738,910
- Average return on equity (ROE) among peers: 7.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| EuroDry Ltd (EDRY) | $98.98 Million | -32.61% | 1.04x | $36.41 Million |
| Ardmore Shpng (ASC) | $61.60 Million | -4.83% | 1.61x | $552.67 Million |
| BW LPG Limited (BWLP) | $1.38 Billion | 13.35% | 0.71x | $2.23 Billion |
| Capital Clean Energy Carriers Corp. (CCEC) | $239.76 Million | 7.33% | 2.16x | $1.19 Billion |
| C3is Inc. (CISS) | $43.89 Million | 1.26% | 0.02x | $1.91 Million |
| Costamare Bulkers Holdings Limited (CMDB) | $781.77 Million | -5.39% | 0.40x | $402.68 Million |
| Costamare Inc (CMRE) | $1.36 Billion | 4.95% | 1.25x | $1.99 Billion |
| Castor Maritime Inc (CTRM) | $13.20 Million | 8.24% | 1.30x | $20.00 Million |
| Danaos Corporation (DAC) | $548.71 Million | 15.29% | 4.44x | $2.12 Billion |
| Diana Shipping Inc. (DSX) | $775.48 Million | 28.59% | 0.36x | $206.08 Million |
| Okeanis Eco Tankers Corp. (ECO) | $341.69 Million | 3.33% | 2.25x | $1.68 Billion |
About EuroDry Ltd
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. As of April 30, 2025, it operated through a fleet of 12 drybulk carriers comprising four Panamax, two Kamsarmax, five Ultramax, … Read more