Ming Shing Group Holdings Ltd (MSW) - Net Assets
Based on the latest financial reports, Ming Shing Group Holdings Ltd (MSW) has net assets worth $-2.62 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 ($7.78 Million) and total liabilities ($10.40 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. See Ming Shing Group Holdings Ltd balance sheet quality to measure how much of total assets are equity-financed.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-2.62 Million |
| % of Total Assets | -33.69% |
| Annual Growth Rate | N/A |
| 5-Year Change | -3091.9% |
| 10-Year Change | N/A |
| Growth Volatility | 271.27 |
Ming Shing Group Holdings Ltd - Net Assets Trend (2021–2026)
This chart illustrates how Ming Shing Group Holdings Ltd's net assets have evolved over time, based on quarterly financial data. Also explore MSW shareholders equity momentum to track the company's year-over-year net asset growth rate.
Annual Net Assets for Ming Shing Group Holdings Ltd (2021–2026)
The table below shows the annual net assets of Ming Shing Group Holdings Ltd from 2021 to 2026. For live market cap and overall valuation, see Ming Shing Group Holdings Ltd (MSW) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | $-4.78 Million | -585.76% |
| 2025-03-31 | $983.98K | -1.43% |
| 2024-03-31 | $998.26K | +160.72% |
| 2023-03-31 | $382.89K | +139.67% |
| 2022-03-31 | $159.76K | -65.14% |
| 2021-03-31 | $458.31K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ming Shing Group 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 decreased by 2632.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $6.83 Million | % |
| Total Equity | $-4.78 Million | 100.00% |
Ming Shing Group Holdings Ltd Competitors by Market Cap
The table below lists competitors of Ming Shing Group Holdings Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Agroz Inc. Ordinary Shares
NASDAQ:AGRZ
|
$9.56 Million |
|
Prismaflex Intl
PA:ALPRI
|
$9.56 Million |
|
Guardian Exploration Inc
V:GX
|
$9.57 Million |
|
DCI O.N.
F:DCIK
|
$9.58 Million |
|
Jet Freight Logistics Limited
NSE:JETFREIGHT
|
$9.55 Million |
|
Ebang International Holdings
NASDAQ:EBON
|
$9.55 Million |
|
BLB Limited
NSE:BLBLIMITED
|
$9.54 Million |
|
Adaptimmune Therapeutics Plc
NASDAQ:ADAP
|
$9.54 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ming Shing Group Holdings Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 983,979 to -4,779,766, a change of -5,763,745 (-585.8%).
- Net loss of 5,763,745 reduced equity.
- Other factors decreased equity by 0.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-5.76 Million | -120.59% |
| Total Change | $- | -585.76% |
Book Value vs Market Value Analysis
This analysis compares Ming Shing Group 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
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-03-31 | $0.03 | $1.37 | x |
| 2022-03-31 | $0.01 | $1.37 | x |
| 2023-03-31 | $0.03 | $1.37 | x |
| 2024-03-31 | $0.07 | $1.37 | x |
| 2025-03-31 | $0.08 | $1.37 | x |
| 2026-03-31 | $-0.37 | $1.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ming Shing Group 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): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -39.40%
- • Asset Turnover: 2.49x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is below the historical average (297.54%), 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 | 277.70% | 20.68% | 2.54x | 5.28x | $1.23 Million |
| 2022 | 1128.91% | 12.54% | 2.57x | 35.05x | $1.79 Million |
| 2023 | 727.95% | 12.75% | 2.64x | 21.63x | $2.75 Million |
| 2024 | 233.06% | 8.44% | 2.32x | 11.91x | $2.23 Million |
| 2025 | -582.41% | -16.93% | 2.52x | 13.64x | $-5.83 Million |
| 2026 | 0.00% | -39.40% | 2.49x | 0.00x | $-5.29 Million |
Industry Comparison
This section compares Ming Shing Group Holdings Ltd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $1,049,963,484
- Average return on equity (ROE) among peers: -7.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ming Shing Group Holdings Ltd (MSW) | $-2.62 Million | 277.70% | N/A | $9.56 Million |
| Arcosa Inc (ACA) | $1.95 Billion | 3.56% | 0.63x | $6.03 Billion |
| Aecom Technology Corporation (ACM) | $3.55 Billion | 2.71% | 2.85x | $7.64 Billion |
| Argan Inc (AGX) | $97.64 Million | 7.96% | 0.34x | $5.59 Billion |
| Ameresco Inc (AMRC) | $261.82 Million | 7.01% | 1.58x | $731.09 Million |
| Api Group Corp (APG) | $2.95 Billion | 8.47% | 1.76x | $17.28 Billion |
| Concrete Pumping Holdings Class A (BBCP) | $289.79 Million | 2.20% | 2.04x | $474.71 Million |
| Topbuild Corp (BLD) | $1.07 Billion | 12.57% | 1.29x | $9.94 Billion |
| Blink Charging Co (BLNK) | $18.65K | -111.93% | 0.46x | $68.58 Million |
| Bowman Consulting Group Ltd (BWMN) | $78.41 Million | 0.38% | 0.76x | $737.55 Million |
| Cadeler A/S (CDLR) | $241.06 Million | -11.21% | 0.40x | $2.08 Billion |
About Ming Shing Group Holdings Ltd
Ming Shing Group Holdings Limited, through its subsidiaries, engages in wet trades works in Hong Kong. Its works include plastering, tile laying, brick laying, floor screeding, and marble works. The company serves public and private sectors. Ming Shing Group Holdings Limited was incorporated in 2022 and is based in Cheung Sha Wan, Hong Kong.