Forza X1 Inc
Forza X1, Inc. engages in designing, developing, and manufacturing electric boats in the United States. It intends to offer its products through a vertically integrated and direct-to-consumer platform. The company was incorporated in 2021 and is headquartered in Fort Pierce, Florida. As of November 26, 2024, Forza X1, Inc. operates as a subsidiary of Twin Vee Powercats Co.
Forza X1 Inc (FRZA) - Net Assets
Latest net assets as of September 2024: $11.78 Million USD
Based on the latest financial reports, Forza X1 Inc (FRZA) has net assets worth $11.78 Million USD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($11.96 Million) and total liabilities ($180.87K). 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 | $11.78 Million |
| % of Total Assets | 98.49% |
| Annual Growth Rate | N/A |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 385.64 |
Forza X1 Inc - Net Assets Trend (2020–2023)
This chart illustrates how Forza X1 Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Forza X1 Inc (2020–2023)
The table below shows the annual net assets of Forza X1 Inc from 2020 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $16.02 Million | +16.94% |
| 2022-12-31 | $13.70 Million | +788.21% |
| 2021-12-31 | $1.54 Million | -- |
| 2020-12-31 | $0.00 | -- |
Equity Component Analysis
This analysis shows how different components contribute to Forza X1 Inc'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 1002074500.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $15.78K | 0.10% |
| Other Components | $26.03 Million | 162.45% |
| Total Equity | $16.02 Million | 100.00% |
Forza X1 Inc Competitors by Market Cap
The table below lists competitors of Forza X1 Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rocky Mountain Liquor Inc
V:RUM
|
$1.73 Million |
|
Debock Industries Limited
NSE:DIL
|
$1.74 Million |
|
Orege S.A.
LSE:0QSU
|
$1.74 Million |
|
MINERAL HILL INDUSTR.NEW
F:MLN
|
$1.74 Million |
|
BMP AI Technologies, Inc.
PINK:NBBI
|
$1.73 Million |
|
Interoil Exploration and Production ASA
OL:IOX
|
$1.73 Million |
|
PSP SWISS PROPERT N (P7S.SG)
STU:P7S
|
$1.73 Million |
|
EITZEN CHEMICALS
F:E8H
|
$1.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Forza X1 Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 13,700,203 to 16,020,533, a change of 2,320,330 (16.9%).
- Net loss of 5,933,113 reduced equity.
- Dividend payments of 66,462 reduced retained earnings.
- Share repurchases of 21,379 reduced equity.
- New share issuances of 6,996,015 increased equity.
- Other factors increased equity by 1,345,269.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-5.93 Million | -37.03% |
| Dividends Paid | $66.46K | -0.41% |
| Share Repurchases | $21.38K | -0.13% |
| Share Issuances | $7.00 Million | +43.67% |
| Other Changes | $1.35 Million | +8.4% |
| Total Change | $- | 16.94% |
Book Value vs Market Value Analysis
This analysis compares Forza X1 Inc'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: 0.17x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $0.00 | $0.20 | x |
| 2021-12-31 | $0.22 | $0.20 | x |
| 2022-12-31 | $1.31 | $0.20 | x |
| 2023-12-31 | $1.20 | $0.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Forza X1 Inc 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): -37.03%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15984.46%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-37.03%) is below the historical average (-32.65%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -34.59% | 0.00% | 0.00x | 1.45x | $-687.82K |
| 2022 | -26.33% | 0.00% | 0.00x | 1.04x | $-4.98 Million |
| 2023 | -37.03% | -15984.46% | 0.00x | 1.06x | $-7.54 Million |
Industry Comparison
This section compares Forza X1 Inc's net assets metrics with peer companies in the Recreational Vehicles industry.
Industry Context
- Industry: Recreational Vehicles
- Average net assets among peers: $147,168,983
- Average return on equity (ROE) among peers: -12.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Forza X1 Inc (FRZA) | $11.78 Million | -34.59% | 0.02x | $1.73 Million |
| Alternet Systems Inc (ALYI) | $-168.02K | 0.00% | 0.00x | $74.94K |
| Brunswick Corporation (BC) | $1.10 Billion | 7.12% | 2.09x | $4.64 Billion |
| Bénéteau S.A (BTEAF) | $644.12 Million | 7.68% | 1.17x | $279.12 Million |
| Ev Dynamics (Holdings) Limited (CHDHF) | $21.54 Million | -64.69% | 0.65x | $2.95 Million |
| Curtiss Motorcycles Company Inc (CMOT) | $-1.30 Million | 0.00% | 0.00x | $411.06K |
| BRP Inc (DOOO) | $-474.90 Million | 0.00% | 0.00x | $2.73 Billion |
| Evil Empire Designs Inc. (EVVL) | $-119.34K | 0.00% | 0.00x | $5.82K |
| EZGO Technologies Ltd (EZGO) | $33.54 Million | -19.27% | 0.42x | $263.57K |
| Folkup Development Inc (FLDI) | $2.16K | -39.02% | 0.41x | $4.00 Million |