Gan Ltd (GAN) - Net Assets
Based on the latest financial reports, Gan Ltd (GAN) has net assets worth $-16.48 Million USD as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($75.16 Million) and total liabilities ($91.63 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 GAN asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-16.48 Million |
| % of Total Assets | -21.92% |
| Annual Growth Rate | N/A |
| 5-Year Change | -107.16% |
| 10-Year Change | -171.72% |
| Growth Volatility | 357.59 |
Gan Ltd - Net Assets Trend (2012–2024)
This chart illustrates how Gan Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Gan Ltd balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Gan Ltd (2012–2024)
The table below shows the annual net assets of Gan Ltd from 2012 to 2024. For live valuation and market cap data, see Gan Ltd market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $-11.14 Million | -141.99% |
| 2023-12-31 | $-4.60 Million | -122.17% |
| 2022-12-31 | $20.77 Million | -90.73% |
| 2021-12-31 | $224.04 Million | +44.02% |
| 2020-12-31 | $155.56 Million | +930.09% |
| 2019-12-31 | $15.10 Million | +26.22% |
| 2018-12-31 | $11.96 Million | +16.94% |
| 2017-12-31 | $10.23 Million | -25.61% |
| 2016-12-31 | $13.75 Million | -11.46% |
| 2015-12-31 | $15.53 Million | -34.32% |
| 2014-12-31 | $23.65 Million | -19.29% |
| 2013-12-31 | $29.31 Million | +859.04% |
| 2012-12-31 | $3.06 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gan 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 decreased by 30222946200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $457.00K | % |
| Other Comprehensive Income | $-34.05 Million | % |
| Other Components | $339.72 Million | % |
| Total Equity | $-11.14 Million | 100.00% |
Gan Ltd Competitors by Market Cap
The table below lists competitors of Gan Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Atlas Salt Inc
V:SALT
|
$91.55 Million |
|
Aspire Mining Ltd
AU:AKM
|
$91.59 Million |
|
Oneview Healthcare Plc
AU:ONE
|
$91.60 Million |
|
Krystal Integrated Services Ltd
NSE:KRYSTAL
|
$91.60 Million |
|
Beazley plc
LSE:BEZ
|
$91.48 Million |
|
Pungguk Ethanol Industrial Co. Ltd
KQ:023900
|
$91.45 Million |
|
Sucro Limited
V:SUGR
|
$91.41 Million |
|
Aris Gold Corporation
V:CGC
|
$91.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gan Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from -4,604,000 to -11,141,000, a change of -6,537,000.
- Net loss of 7,959,000 reduced equity.
- Other comprehensive income decreased equity by 1,752,000.
- Other factors increased equity by 3,174,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-7.96 Million | -71.44% |
| Other Comprehensive Income | $-1.75 Million | -15.73% |
| Other Changes | $3.17 Million | +28.49% |
| Total Change | $- | % |
Book Value vs Market Value Analysis
This analysis compares Gan 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
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | $0.07 | $1.97 | x |
| 2013-12-31 | $0.64 | $1.97 | x |
| 2014-12-31 | $0.42 | $1.97 | x |
| 2015-12-31 | $0.27 | $1.97 | x |
| 2016-12-31 | $0.21 | $1.97 | x |
| 2017-12-31 | $0.15 | $1.97 | x |
| 2018-12-31 | $0.61 | $1.97 | x |
| 2019-12-31 | $0.64 | $1.97 | x |
| 2020-12-31 | $5.76 | $1.97 | x |
| 2021-12-31 | $5.33 | $1.97 | x |
| 2022-12-31 | $0.49 | $1.97 | x |
| 2023-12-31 | $-0.10 | $1.97 | x |
| 2024-12-31 | $-0.25 | $1.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gan 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): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -5.90%
- • Asset Turnover: 1.75x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is above the historical average (-89.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 6.91% | 2.36% | 1.05x | 2.78x | $-94.27K |
| 2013 | 6.27% | 9.04% | 0.57x | 1.22x | $-1.09 Million |
| 2014 | -17.15% | -34.56% | 0.42x | 1.18x | $-6.42 Million |
| 2015 | -49.31% | -83.55% | 0.44x | 1.35x | $-8.91 Million |
| 2016 | -34.36% | -48.17% | 0.55x | 1.29x | $-5.98 Million |
| 2017 | -45.89% | -38.14% | 0.71x | 1.70x | $-5.72 Million |
| 2018 | -64.37% | -54.92% | 0.62x | 1.89x | $-8.90 Million |
| 2019 | 11.84% | 5.97% | 1.15x | 1.73x | $277.80K |
| 2020 | -13.00% | -57.50% | 0.20x | 1.11x | $-35.77 Million |
| 2021 | -11.11% | -19.85% | 0.48x | 1.16x | $-47.30 Million |
| 2022 | -950.97% | -139.55% | 1.37x | 4.96x | $-199.57 Million |
| 2023 | 0.00% | -26.61% | 1.48x | 0.00x | $-33.98 Million |
| 2024 | 0.00% | -5.90% | 1.75x | 0.00x | $-6.84 Million |
Industry Comparison
This section compares Gan Ltd's net assets metrics with peer companies in the Gambling industry.
Industry Context
- Industry: Gambling
- Average net assets among peers: $634,357,970
- Average return on equity (ROE) among peers: 4.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gan Ltd (GAN) | $-16.48 Million | 6.91% | N/A | $91.53 Million |
| Accel Entertainment Inc (ACEL) | $441.46 Million | 1.56% | 0.04x | $941.91 Million |
| PlayAGS Inc (AGS) | $-27.93 Million | 0.00% | 0.00x | $518.40 Million |
| Brightstar Lottery PLC (BRSL) | $1.95 Billion | 7.99% | 4.36x | $2.59 Billion |
| Codere Online US Corp (CDRO) | $-19.35 Million | 0.00% | 0.00x | $247.83 Million |
| Churchill Downs Incorporated (CHDN) | $138.10 Million | 10.86% | 1.88x | $5.86 Billion |
| DraftKings Inc (DKNG) | $-185.23 Million | 0.00% | 0.00x | $11.03 Billion |
| Everi Holdings Inc (EVRI) | $138.43 Million | 17.12% | 2.90x | $1.24 Billion |
| Gambling.com Group Ltd (GAMB) | $87.11 Million | 2.74% | 0.59x | $129.06 Million |
| International Game Technology PLC (IGT) | $3.18 Billion | 3.18% | 1.72x | $3.31 Billion |
About Gan Ltd
GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to iGaming and online sports betting applications in the United States, Europe, Latin America, and internationally. It operates through two segments: B2B and B2C. The company offers GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real money int… Read more