Universal Stainless & Alloy
Universal Stainless & Alloy Products, Inc., together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. Its products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. The company offers semi-finished and finished long products in the form of ingots, billets, and bars; fla… Read more
Universal Stainless & Alloy (USAP) - Net Assets
Latest net assets as of September 2024: $253.25 Million USD
Based on the latest financial reports, Universal Stainless & Alloy (USAP) has net assets worth $253.25 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 ($371.51 Million) and total liabilities ($118.25 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $253.25 Million |
| % of Total Assets | 68.17% |
| Annual Growth Rate | 11.8% |
| 5-Year Change | -7.03% |
| 10-Year Change | 10.94% |
| Growth Volatility | 34.14 |
Universal Stainless & Alloy - Net Assets Trend (1994–2023)
This chart illustrates how Universal Stainless & Alloy's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Universal Stainless & Alloy (1994–2023)
The table below shows the annual net assets of Universal Stainless & Alloy from 1994 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $226.04 Million | +2.86% |
| 2022-12-31 | $219.75 Million | -2.90% |
| 2021-12-31 | $226.32 Million | +0.28% |
| 2020-12-31 | $225.68 Million | -7.18% |
| 2019-12-31 | $243.14 Million | +2.58% |
| 2018-12-31 | $237.01 Million | +23.66% |
| 2017-12-31 | $191.67 Million | +5.77% |
| 2016-12-31 | $181.22 Million | -2.03% |
| 2015-12-31 | $184.98 Million | -9.22% |
| 2014-12-31 | $203.75 Million | +3.71% |
| 2013-12-31 | $196.46 Million | -0.92% |
| 2012-12-31 | $198.28 Million | +9.97% |
| 2011-12-31 | $180.31 Million | +12.96% |
| 2010-12-31 | $159.62 Million | +10.68% |
| 2009-12-31 | $144.23 Million | -1.01% |
| 2008-12-31 | $145.70 Million | +12.42% |
| 2007-12-31 | $129.60 Million | +23.96% |
| 2006-12-31 | $104.55 Million | +29.07% |
| 2005-12-31 | $81.00 Million | +21.01% |
| 2004-12-31 | $66.94 Million | +12.62% |
| 2003-12-31 | $59.44 Million | -2.25% |
| 2002-12-31 | $60.80 Million | +7.86% |
| 2001-12-31 | $56.37 Million | +15.59% |
| 2000-12-31 | $48.77 Million | +11.59% |
| 1999-12-31 | $43.70 Million | +2.58% |
| 1998-12-31 | $42.60 Million | +12.70% |
| 1997-12-31 | $37.80 Million | +23.93% |
| 1996-12-31 | $30.50 Million | +19.14% |
| 1995-12-31 | $25.60 Million | +187.64% |
| 1994-12-31 | $8.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Universal Stainless & Alloy'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 13001900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $127.52 Million | 56.41% |
| Common Stock | $9.00K | 0.00% |
| Other Comprehensive Income | $-123.00K | -0.05% |
| Other Components | $98.64 Million | 43.64% |
| Total Equity | $226.04 Million | 100.00% |
Universal Stainless & Alloy Competitors by Market Cap
The table below lists competitors of Universal Stainless & Alloy ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Besqab Pref B
ST:BESQAB-PREF-B
|
$392.70 Million |
|
Wuhan Hvsen Biotechnology Co Ltd
SHE:300871
|
$392.81 Million |
|
PT Semen Indonesia (Persero) Tbk
PINK:PSGTF
|
$392.99 Million |
|
Shutterstock
NYSE:SSTK
|
$393.04 Million |
|
Guangdong Skychem Technology Co. Ltd. A
SHG:688603
|
$392.62 Million |
|
Ningbo Sunrise Elc Technology Co Ltd Class A
SHE:002937
|
$392.57 Million |
|
Bravura Solutions Ltd
AU:BVS
|
$392.40 Million |
|
Himalaya Shipping Ltd.
NYSE:HSHP
|
$392.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Universal Stainless & Alloy's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 219,753,000 to 226,042,000, a change of 6,289,000 (2.9%).
- Net income of 4,910,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 256,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.91 Million | +2.17% |
| Other Comprehensive Income | $-256.00K | -0.11% |
| Other Changes | $1.64 Million | +0.72% |
| Total Change | $- | 2.86% |
Book Value vs Market Value Analysis
This analysis compares Universal Stainless & Alloy'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: 1.85x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 12.64x to 1.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $3.56 | $44.99 | x |
| 1995-12-31 | $5.40 | $44.99 | x |
| 1996-12-31 | $4.86 | $44.99 | x |
| 1997-12-31 | $5.88 | $44.99 | x |
| 1998-12-31 | $6.73 | $44.99 | x |
| 1999-12-31 | $7.15 | $44.99 | x |
| 2000-12-31 | $8.03 | $44.99 | x |
| 2001-12-31 | $9.22 | $44.99 | x |
| 2002-12-31 | $9.80 | $44.99 | x |
| 2003-12-31 | $9.65 | $44.99 | x |
| 2004-12-31 | $11.08 | $44.99 | x |
| 2005-12-31 | $12.50 | $44.99 | x |
| 2006-12-31 | $15.81 | $44.99 | x |
| 2007-12-31 | $19.13 | $44.99 | x |
| 2008-12-31 | $21.42 | $44.99 | x |
| 2009-12-31 | $21.35 | $44.99 | x |
| 2010-12-31 | $23.24 | $44.99 | x |
| 2011-12-31 | $25.26 | $44.99 | x |
| 2012-12-31 | $26.60 | $44.99 | x |
| 2013-12-31 | $28.26 | $44.99 | x |
| 2014-12-31 | $28.63 | $44.99 | x |
| 2015-12-31 | $26.16 | $44.99 | x |
| 2016-12-31 | $25.19 | $44.99 | x |
| 2017-12-31 | $25.99 | $44.99 | x |
| 2018-12-31 | $28.39 | $44.99 | x |
| 2019-12-31 | $27.40 | $44.99 | x |
| 2020-12-31 | $25.59 | $44.99 | x |
| 2021-12-31 | $25.41 | $44.99 | x |
| 2022-12-31 | $24.49 | $44.99 | x |
| 2023-12-31 | $24.36 | $44.99 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Universal Stainless & Alloy 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): 2.17%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.72%
- • Asset Turnover: 0.80x
- • Equity Multiplier: 1.58x
- Recent ROE (2.17%) is below the historical average (4.76%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | -26.97% | -42.11% | 0.39x | 1.66x | $-3.29 Million |
| 1995 | 10.55% | 5.74% | 1.45x | 1.27x | $140.00K |
| 1996 | 15.74% | 7.96% | 1.43x | 1.38x | $1.75 Million |
| 1997 | 19.05% | 8.86% | 1.45x | 1.49x | $3.42 Million |
| 1998 | 11.74% | 6.89% | 1.13x | 1.51x | $740.00K |
| 1999 | 4.81% | 3.15% | 0.98x | 1.56x | $-2.27 Million |
| 2000 | 10.38% | 5.73% | 1.20x | 1.51x | $187.30K |
| 2001 | 13.55% | 8.43% | 1.14x | 1.41x | $2.00 Million |
| 2002 | 3.44% | 2.95% | 0.84x | 1.38x | $-3.99 Million |
| 2003 | -2.38% | -2.05% | 0.81x | 1.43x | $-7.36 Million |
| 2004 | 10.65% | 5.91% | 1.12x | 1.61x | $437.30K |
| 2005 | 16.12% | 7.68% | 1.32x | 1.59x | $4.96 Million |
| 2006 | 19.72% | 10.11% | 1.31x | 1.48x | $10.16 Million |
| 2007 | 17.36% | 9.79% | 1.40x | 1.27x | $9.54 Million |
| 2008 | 9.57% | 5.93% | 1.29x | 1.26x | $-620.00K |
| 2009 | -2.05% | -2.37% | 0.69x | 1.26x | $-17.38 Million |
| 2010 | 8.30% | 6.99% | 0.89x | 1.33x | $-2.72 Million |
| 2011 | 10.05% | 7.17% | 0.69x | 2.03x | $91.40K |
| 2012 | 7.37% | 5.82% | 0.67x | 1.90x | $-5.21 Million |
| 2013 | -2.07% | -2.25% | 0.52x | 1.77x | $-23.71 Million |
| 2014 | 1.99% | 1.97% | 0.56x | 1.79x | $-16.33 Million |
| 2015 | -11.18% | -11.44% | 0.61x | 1.61x | $-39.17 Million |
| 2016 | -2.95% | -3.46% | 0.52x | 1.63x | $-23.47 Million |
| 2017 | 3.97% | 3.76% | 0.63x | 1.68x | $-11.56 Million |
| 2018 | 4.50% | 4.17% | 0.72x | 1.49x | $-13.04 Million |
| 2019 | 1.76% | 1.76% | 0.66x | 1.52x | $-20.04 Million |
| 2020 | -8.44% | -10.60% | 0.59x | 1.34x | $-41.62 Million |
| 2021 | -0.33% | -0.49% | 0.47x | 1.46x | $-23.39 Million |
| 2022 | -3.67% | -3.99% | 0.56x | 1.65x | $-30.05 Million |
| 2023 | 2.17% | 1.72% | 0.80x | 1.58x | $-17.69 Million |
Industry Comparison
This section compares Universal Stainless & Alloy's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $10,879,360,340
- Average return on equity (ROE) among peers: 3.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Universal Stainless & Alloy (USAP) | $253.25 Million | -26.97% | 0.47x | $392.63 Million |
| Acerinox S.A. (ACRXF) | $1.93 Billion | -3.09% | 1.28x | $1.71 Billion |
| ArcelorMittal SA (AMSYF) | $11.98 Billion | 27.55% | 1.59x | $12.85 Billion |
| Angang Steel Company Limited (ANGGF) | $50.39 Billion | 11.12% | 0.77x | $641.51 Million |
| Aperam PK (APEMY) | $3.79 Billion | 7.21% | 0.73x | $1.17 Billion |
| Aperam SA (APMSF) | $2.52 Billion | 11.35% | 0.72x | $1.31 Billion |
| ArcelorMittal South Africa Ltd (ARCXF) | $28.00 Billion | 33.51% | 0.34x | $14.02 Million |
| Algoma Steel Group Inc (ASTL) | $173.80 Million | -92.29% | 7.94x | $268.31 Million |
| Algoma Steel Group Inc. Warrant (ASTLW) | $-530.90 Million | 0.00% | 0.00x | $6.22 Million |
| BCI Minerals Limited (BIRNF) | $103.61 Million | 12.45% | 0.26x | $227.67 Million |
| BlueScope Steel Limited (BLSFF) | $10.45 Billion | 26.90% | 0.59x | $5.72 Billion |