Worksport Ltd
Worksport Ltd., together with its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and … Read more
Worksport Ltd (WKSP) - Net Assets
Latest net assets as of September 2025: $20.29 Million USD
Based on the latest financial reports, Worksport Ltd (WKSP) has net assets worth $20.29 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 ($27.56 Million) and total liabilities ($7.27 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 | $20.29 Million |
| % of Total Assets | 73.62% |
| Annual Growth Rate | N/A |
| 5-Year Change | 10175.04% |
| 10-Year Change | 468134.23% |
| Growth Volatility | 28593.87 |
Worksport Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Worksport Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Worksport Ltd (2002–2024)
The table below shows the annual net assets of Worksport Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $17.41 Million | -4.21% |
| 2023-12-31 | $18.18 Million | -24.63% |
| 2022-12-31 | $24.12 Million | -29.44% |
| 2021-12-31 | $34.18 Million | +20068.36% |
| 2020-12-31 | $169.47K | +119.20% |
| 2019-12-31 | $-882.56K | -294.78% |
| 2018-12-31 | $-223.56K | -160.17% |
| 2017-12-31 | $371.53K | +136.97% |
| 2016-12-31 | $-1.00 Million | -27119.82% |
| 2015-12-31 | $3.72K | +150.04% |
| 2014-12-31 | $-7.43K | -74420.00% |
| 2013-12-31 | $10.00 | +100.83% |
| 2012-12-31 | $-1.21K | -36.79% |
| 2010-12-31 | $-886.00 | +99.86% |
| 2008-12-31 | $-630.78K | -39.98% |
| 2002-12-31 | $-450.61K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Worksport 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 6047901400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $4.02K | 0.02% |
| Other Comprehensive Income | $-8.58K | -0.05% |
| Other Components | $81.90 Million | 470.29% |
| Total Equity | $17.41 Million | 100.00% |
Worksport Ltd Competitors by Market Cap
The table below lists competitors of Worksport Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CLEANTECH LITH. LS -01
F:T2N
|
$10.61 Million |
|
Green River Holding Co Ltd
TWO:8444
|
$10.62 Million |
|
Gyldendal ASA
OL:GYL
|
$10.63 Million |
|
Saedong Co.Ltd
KQ:053060
|
$10.63 Million |
|
WooGene B&G Co. Ltd
KQ:018620
|
$10.61 Million |
|
Jooyontech
KO:044380
|
$10.61 Million |
|
NGE Capital Limited
PINK:NGELF
|
$10.61 Million |
|
Voyageur Mineral Explorers Corp
PINK:CPEFF
|
$10.61 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Worksport Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 18,178,543 to 17,413,631, a change of -764,912 (-4.2%).
- Net loss of 16,163,789 reduced equity.
- New share issuances of 8,736,114 increased equity.
- Other comprehensive income decreased equity by 1,812,575.
- Other factors increased equity by 8,475,338.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-16.16 Million | -92.82% |
| Share Issuances | $8.74 Million | +50.17% |
| Other Comprehensive Income | $-1.81 Million | -10.41% |
| Other Changes | $8.48 Million | +48.67% |
| Total Change | $- | -4.21% |
Book Value vs Market Value Analysis
This analysis compares Worksport 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
- Current price-to-book ratio: 0.21x
- 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 |
|---|---|---|---|
| 2002-12-31 | $-19.03 | $1.33 | x |
| 2008-12-31 | $-26.67 | $1.33 | x |
| 2009-12-31 | $0.00 | $1.33 | x |
| 2010-12-31 | $-0.04 | $1.33 | x |
| 2011-12-31 | $0.00 | $1.33 | x |
| 2012-12-31 | $-0.05 | $1.33 | x |
| 2013-12-31 | $0.00 | $1.33 | x |
| 2014-12-31 | $-0.31 | $1.33 | x |
| 2015-12-31 | $0.01 | $1.33 | x |
| 2016-12-31 | $-0.09 | $1.33 | x |
| 2017-12-31 | $0.36 | $1.33 | x |
| 2018-12-31 | $-0.20 | $1.33 | x |
| 2019-12-31 | $-0.48 | $1.33 | x |
| 2020-12-31 | $0.06 | $1.33 | x |
| 2021-12-31 | $2.97 | $1.33 | x |
| 2022-12-31 | $2.42 | $1.33 | x |
| 2023-12-31 | $1.82 | $1.33 | x |
| 2024-12-31 | $6.29 | $1.33 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Worksport 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): -92.82%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -190.51%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 1.48x
- Recent ROE (-92.82%) is above the historical average (-15923.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 0.00% | 0.00% | 0.00x | 0.00x | $-15.04K |
| 2008 | 0.00% | 0.00% | 0.00x | 0.00x | $21.89K |
| 2009 | 0.00% | 0.00% | 0.00x | 0.00x | $360.33K |
| 2010 | 0.00% | 0.00% | 0.00x | 0.00x | $-13.47K |
| 2011 | 0.00% | 0.00% | 0.00x | 0.00x | $-11.91K |
| 2012 | 0.00% | -8.09% | 876.78x | 0.00x | $-22.43K |
| 2013 | -190980.00% | -4.10% | 474.35x | 98.20x | $-19.10K |
| 2014 | 0.00% | -80.83% | 2.08x | 0.00x | $-478.60K |
| 2015 | -93782.12% | -535.21% | 2.15x | 81.41x | $-3.49 Million |
| 2016 | 0.00% | -314.64% | 1.07x | 0.00x | $-1.04 Million |
| 2017 | -915.97% | -832.66% | 0.45x | 2.44x | $-3.44 Million |
| 2018 | 0.00% | -366.14% | 0.86x | 0.00x | $-1.74 Million |
| 2019 | 0.00% | -18.64% | 4.00x | 0.00x | $-270.78K |
| 2020 | -700.76% | -343.10% | 0.18x | 11.22x | $-1.20 Million |
| 2021 | -23.10% | -2599.86% | 0.01x | 1.06x | $-11.32 Million |
| 2022 | -51.97% | -10758.97% | 0.00x | 1.36x | $-14.95 Million |
| 2023 | -82.12% | -975.98% | 0.06x | 1.43x | $-16.75 Million |
| 2024 | -92.82% | -190.51% | 0.33x | 1.48x | $-17.91 Million |
Industry Comparison
This section compares Worksport Ltd's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $94,031,693,577
- Average return on equity (ROE) among peers: 7.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Worksport Ltd (WKSP) | $20.29 Million | 0.00% | 0.36x | $10.61 Million |
| Altisource Asset Management Corporation (AAMCF) | $-166.58 Million | 0.00% | 0.00x | $94.00 |
| Advance Auto Parts Inc (AAP) | $919.77 Million | 25.52% | 1.76x | $3.10 Billion |
| AB Dynamics plc (ABDDF) | $125.16 Million | 8.78% | 0.36x | $390.81 Million |
| Adient PLC (ADNT) | $4.62 Billion | 18.98% | 1.85x | $1.57 Billion |
| Agristar Inc (AGRS) | $687.77K | -63.01% | 1.48x | $99.67 |
| Akebono Brake Industry Co. Ltd (AKBIF) | $54.74 Billion | 12.11% | 1.84x | $73.29 Million |
| Allison Transmission Holdings Inc (ALSN) | $1.40 Billion | 16.35% | 2.44x | $9.85 Billion |
| Autoliv Inc (ALV) | $3.78 Billion | 12.79% | 0.74x | $7.75 Billion |
| Aptiv PLC (APTV) | $3.01 Billion | 44.84% | 2.56x | $15.18 Billion |
| Aisin Seiki Co Ltd (ASEKY) | $871.89 Billion | 1.90% | 1.27x | $5.03 Billion |