Nikola Corp (NKLA) - Net Assets
Based on the latest financial reports, Nikola Corp (NKLA) has net assets worth $379.25 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 ($1.04 Billion) and total liabilities ($656.80 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 Nikola Corp liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $379.25 Million |
| % of Total Assets | 36.61% |
| Annual Growth Rate | 25.01% |
| 5-Year Change | 267.85% |
| 10-Year Change | N/A |
| Growth Volatility | 167.14 |
Nikola Corp - Net Assets Trend (2018–2023)
This chart illustrates how Nikola Corp's net assets have evolved over time, based on quarterly financial data. Also explore Nikola Corp (NKLA) total assets for the complete picture of this company's asset base.
Annual Net Assets for Nikola Corp (2018–2023)
The table below shows the annual net assets of Nikola Corp from 2018 to 2023. For live valuation and market cap data, see Nikola Corp stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $719.17 Million | +36.60% |
| 2022-12-31 | $526.48 Million | -24.09% |
| 2021-12-31 | $693.57 Million | -29.76% |
| 2020-12-31 | $987.48 Million | +405.08% |
| 2019-12-31 | $195.51 Million | -17.01% |
| 2018-12-31 | $235.59 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Nikola Corp'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 160633.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $133.00K | 0.02% |
| Other Comprehensive Income | $-162.00K | -0.02% |
| Other Components | $3.79 Billion | 527.03% |
| Total Equity | $719.17 Million | 100.00% |
Nikola Corp Competitors by Market Cap
The table below lists competitors of Nikola Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nala Digital Commerce Ltd
TA:SEFA
|
$5.32 Million |
|
Harworth Group PLC
LSE:HWG
|
$5.33 Million |
|
Volt Carbon Technologies Inc
V:VCT
|
$5.33 Million |
|
Wirtek A/S
CO:WIRTEK
|
$5.33 Million |
|
Rostra AG
F:3330
|
$5.32 Million |
|
Krakatoa Resources Ltd
AU:KTA
|
$5.32 Million |
|
Loyal Solutions AS
ST:LOYAL
|
$5.32 Million |
|
Bio-gate AG
XETRA:BIG1
|
$5.32 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Nikola Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 526,479,000 to 719,174,000, a change of 192,695,000 (36.6%).
- Net loss of 966,282,000 reduced equity.
- New share issuances of 342,945,000 increased equity.
- Other comprehensive income increased equity by 1,415,000.
- Other factors increased equity by 814,617,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-966.28 Million | -134.36% |
| Share Issuances | $342.94 Million | +47.69% |
| Other Comprehensive Income | $1.42 Million | +0.2% |
| Other Changes | $814.62 Million | +113.27% |
| Total Change | $- | 36.60% |
Book Value vs Market Value Analysis
This analysis compares Nikola Corp'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: 0.00x
- 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 |
|---|---|---|---|
| 2018-12-31 | $31.21 | $0.06 | x |
| 2019-12-31 | $22.34 | $0.06 | x |
| 2020-12-31 | $88.21 | $0.06 | x |
| 2021-12-31 | $52.18 | $0.06 | x |
| 2022-12-31 | $35.75 | $0.06 | x |
| 2023-12-31 | $26.97 | $0.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Nikola Corp 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): -134.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2696.17%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.77x
- Recent ROE (-134.36%) is below the historical average (-81.65%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | -27.29% | -37163.58% | 0.00x | 1.00x | $-87.85 Million |
| 2019 | -45.35% | -18393.36% | 0.00x | 1.17x | $-108.21 Million |
| 2020 | -38.85% | -403870.53% | 0.00x | 1.07x | $-482.42 Million |
| 2021 | -99.03% | -723008.42% | 0.00x | 1.43x | $-756.22 Million |
| 2022 | -145.03% | -1502.36% | 0.04x | 2.35x | $-816.22 Million |
| 2023 | -134.36% | -2696.17% | 0.03x | 1.77x | $-1.04 Billion |
Industry Comparison
This section compares Nikola Corp's net assets metrics with peer companies in the Farm & Heavy Construction Machinery industry.
Industry Context
- Industry: Farm & Heavy Construction Machinery
- Average net assets among peers: $1,804,832,642
- Average return on equity (ROE) among peers: 8.74%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nikola Corp (NKLA) | $379.25 Million | -27.29% | 1.73x | $5.32 Million |
| Aebi Schmidt Holding AG - Common Stock (AEBI) | $814.95 Million | 1.20% | 1.46x | $833.98 Million |
| AGCO Corporation (AGCO) | $991.60 Million | 17.01% | 1.64x | $8.84 Billion |
| Agrify Corp (AGFY) | $-14.71 Million | 0.00% | 0.00x | $89.44 Million |
| Alamo Group Inc (ALG) | $163.48 Million | 6.91% | 0.51x | $2.08 Billion |
| Arts-Way Manufacturing Co Inc (ARTW) | $6.20 Million | 20.97% | 1.15x | $12.01 Million |
| Astec Industries Inc (ASTE) | $654.80 Million | 2.41% | 0.39x | $1.35 Billion |
| Blue Bird Corp (BLBD) | $40.00 Million | 59.53% | 9.44x | $2.16 Billion |
| CEA Industries Inc. (BNC) | $-883.75K | 0.00% | 0.00x | $114.12 Million |
| Caterpillar Inc (CAT) | $15.38 Billion | 19.50% | 4.09x | $362.70 Billion |
| CEA Industries Inc (CEAD) | $14.90 Million | -40.10% | 0.41x | $6.66 Million |
About Nikola Corp
Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions in the United States and internationally. The company operates in truck and energy units. It commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector. In addition, it develops a network of hydrogen fueling stations; and… Read more