United Maritime Corporation (USEA) - Net Assets
Based on the latest financial reports, United Maritime Corporation (USEA) has net assets worth $61.07 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 ($144.20 Million) and total liabilities ($83.12 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 USEA asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $61.07 Million |
| % of Total Assets | 42.35% |
| Annual Growth Rate | 69.31% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 355.35 |
United Maritime Corporation - Net Assets Trend (2020–2024)
This chart illustrates how United Maritime Corporation's net assets have evolved over time, based on quarterly financial data. Also explore how large is United Maritime Corporation's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for United Maritime Corporation (2020–2024)
The table below shows the annual net assets of United Maritime Corporation from 2020 to 2024. For live valuation and market cap data, see United Maritime Corporation market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $60.09 Million | -8.78% |
| 2023-12-31 | $65.87 Million | +2.01% |
| 2022-12-31 | $64.57 Million | +817.11% |
| 2021-12-31 | $7.04 Million | -3.71% |
| 2020-12-31 | $7.31 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to United Maritime Corporation'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 2391356500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $20.91 Million | 34.81% |
| Common Stock | $1.00K | 0.00% |
| Other Comprehensive Income | $-4.00K | -0.01% |
| Other Components | $39.18 Million | 65.20% |
| Total Equity | $60.09 Million | 100.00% |
United Maritime Corporation Competitors by Market Cap
The table below lists competitors of United Maritime Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MOGU Inc
NYSE:MOGU
|
$16.70 Million |
|
Hammer Metals Limited
F:6HM
|
$16.70 Million |
|
Olympia Industries Bhd
KLSE:3018
|
$16.70 Million |
|
Resource Development Group Ltd
AU:RDG
|
$16.70 Million |
|
Compass Gold Corp
V:CVB
|
$16.67 Million |
|
Star Diamond Corp
TO:DIAM
|
$16.67 Million |
|
Procorp S.A.B. de C.V
MX:PROCORPB
|
$16.67 Million |
|
Keynote Financial Services Limited
NSE:KEYFINSERV
|
$16.67 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in United Maritime Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 65,869,000 to 60,088,000, a change of -5,781,000 (-8.8%).
- Net loss of 3,383,000 reduced equity.
- Dividend payments of 2,643,000 reduced retained earnings.
- Share repurchases of 469,000 reduced equity.
- Other comprehensive income decreased equity by 4,000.
- Other factors increased equity by 718,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-3.38 Million | -5.63% |
| Dividends Paid | $2.64 Million | -4.4% |
| Share Repurchases | $469.00K | -0.78% |
| Other Comprehensive Income | $-4.00K | -0.01% |
| Other Changes | $718.00K | +1.19% |
| Total Change | $- | -8.78% |
Book Value vs Market Value Analysis
This analysis compares United Maritime Corporation'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: 0.31x
- 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 3.59x to 0.31x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $0.59 | $2.13 | x |
| 2021-12-31 | $0.57 | $2.13 | x |
| 2022-12-31 | $8.85 | $2.13 | x |
| 2023-12-31 | $7.88 | $2.13 | x |
| 2024-12-31 | $6.90 | $2.13 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Maritime Corporation 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): -5.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -7.45%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 2.86x
- Recent ROE (-5.63%) is below the historical average (19.70%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 14.92% | 26.46% | 0.30x | 1.91x | $360.03K |
| 2021 | 30.83% | 29.35% | 0.55x | 1.91x | $1.47 Million |
| 2022 | 58.06% | 164.55% | 0.18x | 1.95x | $31.03 Million |
| 2023 | 0.34% | 0.61% | 0.21x | 2.65x | $-6.37 Million |
| 2024 | -5.63% | -7.45% | 0.26x | 2.86x | $-9.39 Million |
Industry Comparison
This section compares United Maritime Corporation's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $554,738,910
- Average return on equity (ROE) among peers: 7.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Maritime Corporation (USEA) | $61.07 Million | 14.92% | 1.36x | $16.69 Million |
| Ardmore Shpng (ASC) | $61.60 Million | -4.83% | 1.61x | $552.67 Million |
| BW LPG Limited (BWLP) | $1.38 Billion | 13.35% | 0.71x | $2.23 Billion |
| Capital Clean Energy Carriers Corp. (CCEC) | $239.76 Million | 7.33% | 2.16x | $1.19 Billion |
| C3is Inc. (CISS) | $43.89 Million | 1.26% | 0.02x | $1.91 Million |
| Costamare Bulkers Holdings Limited (CMDB) | $781.77 Million | -5.39% | 0.40x | $402.68 Million |
| Costamare Inc (CMRE) | $1.36 Billion | 4.95% | 1.25x | $1.99 Billion |
| Castor Maritime Inc (CTRM) | $13.20 Million | 8.24% | 1.30x | $20.00 Million |
| Danaos Corporation (DAC) | $548.71 Million | 15.29% | 4.44x | $2.12 Billion |
| Diana Shipping Inc. (DSX) | $775.48 Million | 28.59% | 0.36x | $206.08 Million |
| Okeanis Eco Tankers Corp. (ECO) | $341.69 Million | 3.33% | 2.25x | $1.68 Billion |
About United Maritime Corporation
United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. The company operates a fleet of five dry bulk vessels comprising three Panamax and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 396,297 dwt. United Maritime Corporation was incorporated in 2022 and is based in Glyfada, Greece.