Northann Corp. (NCL) - Net Assets
Based on the latest financial reports, Northann Corp. (NCL) has net assets worth $9.01 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 ($20.44 Million) and total liabilities ($11.43 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 Northann Corp. (NCL) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $9.01 Million |
| % of Total Assets | 44.08% |
| Annual Growth Rate | N/A |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 177.65 |
Northann Corp. - Net Assets Trend (2020–2025)
This chart illustrates how Northann Corp.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see how much is Northann Corp. worth.
Annual Net Assets for Northann Corp. (2020–2025)
The table below shows the annual net assets of Northann Corp. from 2020 to 2025. Also explore Northann Corp. annual equity growth to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $9.01 Million | +246.66% |
| 2024-12-31 | $2.60 Million | +346.12% |
| 2023-12-31 | $582.61K | -70.48% |
| 2022-12-31 | $1.97 Million | +589.77% |
| 2021-12-31 | $-403.00K | +61.20% |
| 2020-12-31 | $-1.04 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Northann Corp.'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 3869.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $22.93K | 0.25% |
| Other Comprehensive Income | $1.35 Million | 15.00% |
| Other Components | $29.00 Million | 321.90% |
| Total Equity | $9.01 Million | 100.00% |
Northann Corp. Competitors by Market Cap
The table below lists competitors of Northann Corp. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
reAlpha Tech Corp. Common Stock
NASDAQ:AIRE
|
$8.21 Million |
|
Turnstone Biologics Corp. Common Stock
NASDAQ:TSBX
|
$8.21 Million |
|
ITM Power
LSE:ITM
|
$8.22 Million |
|
ABX Group Ltd
AU:ABX
|
$8.22 Million |
|
Zeo Energy Corp.
NASDAQ:ZEO
|
$8.20 Million |
|
Conneqt Health Limited
AU:CQT
|
$8.20 Million |
|
Enjoy S.A
SN:ENJOY
|
$8.19 Million |
|
Vigor Kobo Co Ltd
TWO:2733
|
$8.19 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Northann Corp.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,599,173 to 9,010,182, a change of 6,411,009 (246.7%).
- Net loss of 11,673,981 reduced equity.
- New share issuances of 6,853,597 increased equity.
- Other comprehensive income increased equity by 303,727.
- Other factors increased equity by 10,927,666.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-11.67 Million | -129.56% |
| Share Issuances | $6.85 Million | +76.07% |
| Other Comprehensive Income | $303.73K | +3.37% |
| Other Changes | $10.93 Million | +121.28% |
| Total Change | $- | 246.66% |
Book Value vs Market Value Analysis
This analysis compares Northann Corp.'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: 0.25x
- 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 |
|---|---|---|---|
| 2020-12-31 | $-0.05 | $0.16 | x |
| 2021-12-31 | $-0.02 | $0.16 | x |
| 2022-12-31 | $0.09 | $0.16 | x |
| 2023-12-31 | $0.03 | $0.16 | x |
| 2024-12-31 | $0.10 | $0.16 | x |
| 2025-12-31 | $0.63 | $0.16 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Northann Corp. 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): -129.56%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -85.83%
- • Asset Turnover: 0.67x
- • Equity Multiplier: 2.27x
- Recent ROE (-129.56%) is above the historical average (-245.87%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 0.00% | 3.39% | 1.21x | 0.00x | $547.97K |
| 2021 | 0.00% | 0.93% | 2.39x | 0.00x | $362.98K |
| 2022 | 47.07% | 4.43% | 1.45x | 7.30x | $731.69K |
| 2023 | -1224.24% | -51.05% | 1.03x | 23.38x | $-7.19 Million |
| 2024 | -168.51% | -28.53% | 1.11x | 5.34x | $-4.64 Million |
| 2025 | -129.56% | -85.83% | 0.67x | 2.27x | $-12.57 Million |
Industry Comparison
This section compares Northann Corp.'s net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.
Industry Context
- Industry: Furnishings, Fixtures & Appliances
- Average net assets among peers: $206,240,160
- Average return on equity (ROE) among peers: -9.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Northann Corp. (NCL) | $9.01 Million | 0.00% | 1.27x | $8.21 Million |
| Alliance Laundry Holdings Inc. (ALH) | $392.12 Million | 25.95% | 6.36x | $4.19 Billion |
| American Woodmark Corporation (AMWD) | $581.66 Million | 10.86% | 1.83x | $700.65 Million |
| Aterian Inc (ATER) | $224.23 Million | -105.26% | 0.40x | $7.52 Million |
| Applied UV, Inc. (AUVIQ) | $17.23 Million | -96.18% | 0.90x | $467.00 |
| Bassett Furniture Industries (BSET) | $106.31 Million | -1.88% | 0.86x | $136.89 Million |
| Traeger Inc (COOK) | $170.85 Million | -67.42% | 2.96x | $133.80 Million |
| Crown Crafts Inc (CRWS) | $41.87 Million | 14.53% | 0.39x | $27.33 Million |
| Energy Focu (EFOI) | $9.40 Million | 0.00% | 0.22x | $17.20 Million |
| Ethan Allen Interiors Inc (ETD) | $511.19 Million | 16.09% | 0.35x | $552.69 Million |
| FGI Industries Ltd (FGI) | $7.55 Million | 104.72% | 8.16x | $19.22 Million |
About Northann Corp.
Northann Corp. engages in the operates dotfloor.com, the online store that offers vinyl flooring products internationally. It offers its products under the Benchwick and Dotfloor brand names; and it serves retail customers. The company was founded in 2013 and is based in Elk Grove, California.