RMG Acquisition Corp. III (RMGCF) - Net Assets
Based on the latest financial reports, RMG Acquisition Corp. III (RMGCF) has net assets worth $-11.04 Million USD as of September 2023. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.02 Million) and total liabilities ($18.06 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. Read RMGCF current and long-term liabilities for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-11.04 Million |
| % of Total Assets | -157.36% |
| Annual Growth Rate | 21376.42% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 2211577.54 |
RMG Acquisition Corp. III - Net Assets Trend (2020–2022)
This chart illustrates how RMG Acquisition Corp. III's net assets have evolved over time, based on quarterly financial data. Also explore RMG Acquisition Corp. III total assets for the complete picture of this company's asset base.
Annual Net Assets for RMG Acquisition Corp. III (2020–2022)
The table below shows the annual net assets of RMG Acquisition Corp. III from 2020 to 2022. For live valuation and market cap data, see RMGCF market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2022-09-30 | $467.98 Million | +3.51% |
| 2021-09-30 | $452.10 Million | +4423158.59% |
| 2020-09-30 | $10.22K | -- |
Equity Component Analysis
This analysis shows how different components contribute to RMG Acquisition Corp. III'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 1917791400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2022)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $487.17 Million | 104.10% |
| Total Equity | $467.98 Million | 100.00% |
RMG Acquisition Corp. III Competitors by Market Cap
The table below lists competitors of RMG Acquisition Corp. III ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SolarBank Corporation Common Stock
NASDAQ:SUUN
|
$28.64 Million |
|
HarbourVest Global Private Equity Ltd
LSE:HVPE
|
$28.68 Million |
|
Antilles Gold Ltd
AU:AAU
|
$28.68 Million |
|
Turism Hotelur
RO:EFO
|
$28.69 Million |
|
SHH Resources Holdings Bhd
KLSE:7412
|
$28.62 Million |
|
GFM Services Bhd
KLSE:0039
|
$28.60 Million |
|
DIAMINES AND CHEMICALS ORD (BSE)
NSE:DIAMINESQ
|
$28.60 Million |
|
Workhorse Group Inc
NASDAQ:WKHS
|
$28.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RMG Acquisition Corp. III's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2021 to 2022, total equity changed from 452,101,260 to 467,977,337, a change of 15,876,077 (3.5%).
- Net income of 15,876,077 contributed positively to equity growth.
Equity Change Factors (2021 to 2022)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $15.88 Million | +3.39% |
| Total Change | $- | 3.51% |
Book Value vs Market Value Analysis
This analysis compares RMG Acquisition Corp. III'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: 0.91x
- 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.
- The price-to-book ratio has decreased from 41703.11x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-09-30 | $0.00 | $7.06 | x |
| 2021-09-30 | $8.21 | $7.06 | x |
| 2022-09-30 | $7.75 | $7.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RMG Acquisition Corp. III 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): 3.39%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.04x
- Recent ROE (3.39%) is above the historical average (-46.55%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -144.59% | 0.00% | 0.00x | 3.45x | $-15.80K |
| 2021 | 1.54% | 0.00% | 0.00x | 1.07x | $-38.23 Million |
| 2022 | 3.39% | 0.00% | 0.00x | 1.04x | $-30.92 Million |
Industry Comparison
This section compares RMG Acquisition Corp. III's net assets metrics with peer companies in the Shell Companies industry.
Industry Context
- Industry: Shell Companies
- Average net assets among peers: $224,857,490
- Average return on equity (ROE) among peers: 3.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RMG Acquisition Corp. III (RMGCF) | $-11.04 Million | -144.59% | N/A | $28.63 Million |
| Artius II Acquisition Inc. Class A Ordinary Shares (AACB) | $-60.27K | 0.00% | 0.00x | $230.18 Million |
| Artius II Acquisition Inc. Units (AACBU) | $-60.27K | 0.00% | 0.00x | $265.09 Million |
| Ares Acquisition Corporation II (AACT) | $11.15K | -0.14% | 45.93x | $587.05 Million |
| AA Mission Acquisition Corp. (AAM) | $1.54 Billion | 21.89% | 4.12x | $409.92K |
| Altenergy Acquisition Corp (AEAE) | $214.04 Million | 5.44% | 0.10x | $72.25 Million |
| Activate Energy Acquisition Corp. Class A Ordinary Share (AEAQ) | $223.53 Million | 0.00% | 0.04x | $235.74 Million |
| Aimei Health Technology Co., Ltd Ordinary Share (AFJK) | $69.76 Million | 0.25% | 0.01x | $163.82 Million |
| Aifeex Nexus Acquisition Corporation (AIFE) | $86.16 Million | -0.10% | 0.01x | $91.13 Million |
| AI TRANSPORTATION ACQUISITION CORP Ordinary shares (AITR) | $-4.24K | 0.00% | 0.00x | $86.22 Million |
| Alchemy Investments Acquisition Corp 1 Class A Ordinary Shares (ALCY) | $115.20 Million | 2.86% | 0.05x | $49.57 Million |
About RMG Acquisition Corp. III
RMG Acquisition Corp. III does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. RMG Acquisition Corp. III was incorporated in 2020 and is based in Miami Beach, Florida. RMG Acquisition Corp. III is a subsidiary of RMG Sponsor III, LLC.