Worksport Ltd Net Assets
Worksport Ltd net assets. Based on the latest financial reports, Worksport Ltd (WKSP) has net assets worth $19.98 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($27.88 Million) and total liabilities ($7.90 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. Also explore Worksport Ltd net asset momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $19.98 Million |
| % of Total Assets | 71.65% |
| Annual Growth Rate | N/A |
| 5-Year Change | -32.91% |
| 10-Year Change | N/A |
| Growth Volatility | 27025.64 |
Net Assets of Worksport Ltd (2002–2025)
Net assets of Worksport Ltd from 2002 to 2025. This chart illustrates how Worksport Ltd's net assets have evolved over time, based on quarterly financial data. See Worksport Ltd (WKSP) balance sheet quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Worksport Ltd (2002–2025)
The table below shows the annual net assets of Worksport Ltd from 2002 to 2025. For live market cap and overall valuation, see how much is Worksport Ltd worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $22.93 Million | +31.69% |
| 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 7987583800.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Worksport Ltd Net Assets Breakdown (December 2025)
Worksport Ltd net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $9.81K | 0.04% |
| Other Comprehensive Income | $5.44 Million | 23.71% |
| Other Components | $101.36 Million | 442.00% |
| Total Equity | $22.93 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 |
|---|---|
|
Stellar AfricaGold Inc.
V:SPX
|
$3.76 Million |
|
Izolacja Jarocin SA
WAR:IZO
|
$3.76 Million |
|
Franchise Brands PLC
LSE:FRAN
|
$3.77 Million |
|
Indo Pureco Pratama Tbk PT
JK:IPPE
|
$3.77 Million |
|
Amesite Operating Co
NASDAQ:AMST
|
$3.75 Million |
|
Sonim Technologies Inc
NASDAQ:SONM
|
$3.75 Million |
|
Liminatus Pharma, Inc. Class A Common Stock
NASDAQ:LIMN
|
$3.75 Million |
|
Soco Corporation Ltd
AU:SOC
|
$3.75 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 2024 to 2025, total equity changed from 17,413,631 to 22,931,905, a change of 5,518,274 (31.7%).
- Net loss of 19,352,297 reduced equity.
- New share issuances of 3,581,134 increased equity.
- Other comprehensive income increased equity by 5,446,347.
- Other factors increased equity by 15,843,090.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-19.35 Million | -84.39% |
| Share Issuances | $3.58 Million | +15.62% |
| Other Comprehensive Income | $5.45 Million | +23.75% |
| Other Changes | $15.84 Million | +69.09% |
| Total Change | $- | 31.69% |
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: 0.10x
- 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 | $0.30 | x |
| 2008-12-31 | $-26.67 | $0.30 | x |
| 2009-12-31 | $0.00 | $0.30 | x |
| 2010-12-31 | $-0.04 | $0.30 | x |
| 2012-12-31 | $-0.05 | $0.30 | x |
| 2013-12-31 | $0.00 | $0.30 | x |
| 2014-12-31 | $-0.31 | $0.30 | x |
| 2015-12-31 | $0.01 | $0.30 | x |
| 2016-12-31 | $-0.09 | $0.30 | x |
| 2017-12-31 | $0.36 | $0.30 | x |
| 2018-12-31 | $-0.20 | $0.30 | x |
| 2019-12-31 | $-0.48 | $0.30 | x |
| 2020-12-31 | $0.06 | $0.30 | x |
| 2021-12-31 | $2.97 | $0.30 | x |
| 2022-12-31 | $2.42 | $0.30 | x |
| 2023-12-31 | $1.82 | $0.30 | x |
| 2024-12-31 | $2.56 | $0.30 | x |
| 2025-12-31 | $2.95 | $0.30 | 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): -84.39%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -120.19%
- • Asset Turnover: 0.52x
- • Equity Multiplier: 1.34x
- Recent ROE (-84.39%) is above the historical average (-15928.51%), 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 |
| 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 |
| 2025 | -84.39% | -120.19% | 0.52x | 1.34x | $-21.65 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: $17,636,218
- Average return on equity (ROE) among peers: 12.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Worksport Ltd (WKSP) | $19.98 Million | 0.00% | 0.40x | $3.76 Million |
| Advance Auto Parts Inc (AAP) | $3.42 Billion | 13.92% | 1.48x | $2.87 Billion |
| Adient PLC (ADNT) | $1.58 Billion | -30.80% | 5.50x | $1.34 Billion |
| Allison Transmission Holdings Inc (ALSN) | $781.00 Million | 77.34% | 4.70x | $9.78 Billion |
| Autoliv Inc (ALV) | $2.44 Billion | 0.41% | 1.13x | $8.74 Billion |
| Aptiv PLC (APTV) | $-11.85 Billion | 0.00% | 0.00x | $8.58 Billion |
| Aspire BioPharma, Inc. (ASBP) | $289.07 Million | 1.16% | 0.04x | $10.20 Million |
| Atmus Filtration Technologies Inc. (ATMU) | $447.60 Million | 31.90% | 0.76x | $3.48 Billion |
| American Axle & Manufacturing (AXL) | $890.70 Million | 4.15% | 2.27x | $1.36 Billion |
| AutoZone Inc (AZO) | $1.08 Billion | 18.14% | 0.75x | $47.07 Billion |
| BorgWarner Inc (BWA) | $1.12 Billion | 5.95% | 1.48x | $10.61 Billion |
About Worksport Ltd
Worksport Ltd., together with its subsidiary, designs and distributes truck tonneau covers in the United States and internationally. It operates through Hard Tonneau Covers and Soft Tonneau Covers segments. 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 provides SOLIS, … Read more