Grindrod Shipping Holdings Ltd (GRIN) - Net Assets
Based on the latest financial reports, Grindrod Shipping Holdings Ltd (GRIN) has net assets worth $246.12 Million USD as of December 2023. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($460.88 Million) and total liabilities ($214.76 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. Also explore how large is Grindrod Shipping Holdings Ltd's balance sheet for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $246.12 Million |
| % of Total Assets | 53.4% |
| Annual Growth Rate | -5.86% |
| 5-Year Change | -5.36% |
| 10-Year Change | N/A |
| Growth Volatility | 12.17 |
Grindrod Shipping Holdings Ltd - Net Assets Trend (2015–2023)
This chart illustrates how Grindrod Shipping Holdings Ltd's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see Grindrod Shipping Holdings Ltd (GRIN) market capitalisation.
Annual Net Assets for Grindrod Shipping Holdings Ltd (2015–2023)
The table below shows the annual net assets of Grindrod Shipping Holdings Ltd from 2015 to 2023. Explore GRIN cash flow conversion to assess how effectively this company generates cash.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $246.12 Million | -14.38% |
| 2022-12-31 | $287.45 Million | -10.07% |
| 2021-12-31 | $319.63 Million | +25.83% |
| 2020-12-31 | $254.02 Million | -2.32% |
| 2019-12-31 | $260.06 Million | -11.09% |
| 2018-12-31 | $292.50 Million | -8.52% |
| 2017-12-31 | $319.74 Million | -11.94% |
| 2016-12-31 | $363.10 Million | -9.02% |
| 2015-12-31 | $399.08 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Grindrod Shipping Holdings 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 71300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $290.19 Million | 117.91% |
| Other Comprehensive Income | $-11.86 Million | -4.82% |
| Total Equity | $246.12 Million | 100.00% |
Grindrod Shipping Holdings Ltd Competitors by Market Cap
The table below lists competitors of Grindrod Shipping Holdings Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kendrion NV
AS:KENDR
|
$279.76 Million |
|
Lexinfintech Holdings Ltd
NASDAQ:LX
|
$286.40 Million |
|
Tigaraksa Satria Tbk
JK:TGKA
|
$279.86 Million |
|
Quad Graphics Inc
NYSE:QUAD
|
$317.13 Million |
|
EuroHold Bulgaria AD
WAR:EHG
|
$279.52 Million |
|
Shin Hai Gas Corp
TW:9926
|
$279.37 Million |
|
Agung Podomoro Land Tbk
JK:APLN
|
$279.32 Million |
|
Siyaram Silk Mills Limited
NSE:SIYSIL
|
$279.21 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Grindrod Shipping Holdings Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 287,449,000 to 246,120,000, a change of -41,329,000 (-14.4%).
- Net loss of 9,622,000 reduced equity.
- Dividend payments of 1,169,000 reduced retained earnings.
- Share repurchases of 32,439,999 reduced equity.
- Other comprehensive income increased equity by 12,827,000.
- Other factors decreased equity by 10,925,001.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-9.62 Million | -3.91% |
| Dividends Paid | $1.17 Million | -0.47% |
| Share Repurchases | $32.44 Million | -13.18% |
| Other Comprehensive Income | $12.83 Million | +5.21% |
| Other Changes | $-10.93 Million | -4.44% |
| Total Change | $- | -14.38% |
Book Value vs Market Value Analysis
This analysis compares Grindrod Shipping Holdings 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: 2.41x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.45x to 2.41x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $20.93 | $30.34 | x |
| 2016-12-31 | $19.05 | $30.34 | x |
| 2017-12-31 | $16.77 | $30.34 | x |
| 2018-12-31 | $15.34 | $30.34 | x |
| 2019-12-31 | $13.67 | $30.34 | x |
| 2020-12-31 | $11.19 | $30.34 | x |
| 2021-12-31 | $15.97 | $30.34 | x |
| 2022-12-31 | $15.17 | $30.34 | x |
| 2023-12-31 | $12.61 | $30.34 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Grindrod Shipping Holdings 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): -3.91%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.49%
- • Asset Turnover: 0.84x
- • Equity Multiplier: 1.87x
- Recent ROE (-3.91%) is below the historical average (-2.72%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -22.64% | -20.80% | 0.75x | 1.45x | $-130.26 Million |
| 2016 | -12.04% | -11.76% | 0.63x | 1.63x | $-80.02 Million |
| 2017 | -19.02% | -14.85% | 0.81x | 1.59x | $-92.79 Million |
| 2018 | -7.06% | -6.47% | 0.71x | 1.53x | $-49.89 Million |
| 2019 | -13.60% | -10.68% | 0.63x | 2.03x | $-61.37 Million |
| 2020 | -19.37% | -14.72% | 0.45x | 2.93x | $-62.32 Million |
| 2021 | 37.21% | 26.09% | 0.71x | 2.02x | $86.96 Million |
| 2022 | 35.96% | 22.45% | 0.84x | 1.91x | $74.62 Million |
| 2023 | -3.91% | -2.49% | 0.84x | 1.87x | $-34.23 Million |
Industry Comparison
This section compares Grindrod Shipping Holdings Ltd's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $697,042,725
- Average return on equity (ROE) among peers: 2.78%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Grindrod Shipping Holdings Ltd (GRIN) | $246.12 Million | -22.64% | 0.87x | $279.54 Million |
| Ardmore Shpng (ASC) | $506.44 Million | 27.34% | 0.43x | $552.67 Million |
| BW LPG Limited (BWLP) | $1.93 Billion | 12.95% | 0.64x | $2.23 Billion |
| Capital Clean Energy Carriers Corp. (CCEC) | $927.76 Million | 5.54% | 0.72x | $1.19 Billion |
| C3is Inc. (CISS) | $55.54 Million | 16.73% | 0.72x | $1.91 Million |
| Costamare Bulkers Holdings Limited (CMDB) | $474.69 Million | -31.11% | 1.50x | $402.68 Million |
| Costamare Inc (CMRE) | $1.41 Billion | 7.02% | 1.14x | $2.00 Billion |
| Castor Maritime Inc (CTRM) | $9.47 Million | 10.35% | 0.02x | $20.00 Million |
| Danaos Corporation (DAC) | $487.71 Million | -75.08% | 5.41x | $2.12 Billion |
| Diana Shipping Inc. (DSX) | $775.48 Million | 28.59% | 0.36x | $206.08 Million |
| Okeanis Eco Tankers Corp. (ECO) | $397.23 Million | 25.51% | 2.17x | $1.68 Billion |
About Grindrod Shipping Holdings Ltd
Grindrod Shipping Holdings Ltd., an international shipping company, engages in owning, chartering, and operating a fleet of dry bulk carriers worldwide. It operates through three segments: Handysize, Supramax/Ultramax, and Others. The company operates a fleet of vessels comprising handysize and supramax/ultramax dry bulk carriers transporting various bulk and breakbulk commodities, including ores… Read more