ECIT AS
ECIT AS provides IT, finance and accounting, and technology solutions in Norway, Sweden, Denmark, the United Kingdom, Germany, Finland, Poland, Iceland, Lithuania, Romania, and internationally. The company offers finance and accounting services, including accounting, management consulting and support, payroll, budgeting, and HR, as well as reporting/BI, annual reports/tax, advisory, and debt coll… Read more
ECIT AS (ECIT) - Net Assets
Latest net assets as of June 2024: Nkr1.79 Billion NOK
Based on the latest financial reports, ECIT AS (ECIT) has net assets worth Nkr1.79 Billion NOK as of June 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr3.86 Billion) and total liabilities (Nkr2.06 Billion). 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 | Nkr1.79 Billion |
| % of Total Assets | 46.45% |
| Annual Growth Rate | 17.53% |
| 5-Year Change | 111.31% |
| 10-Year Change | N/A |
| Growth Volatility | 20.25 |
ECIT AS - Net Assets Trend (2018–2023)
This chart illustrates how ECIT AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for ECIT AS (2018–2023)
The table below shows the annual net assets of ECIT AS from 2018 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | Nkr1.88 Billion | +46.12% |
| 2022-12-31 | Nkr1.29 Billion | -5.50% |
| 2021-12-31 | Nkr1.36 Billion | +40.23% |
| 2020-12-31 | Nkr971.96 Million | +9.13% |
| 2019-12-31 | Nkr890.62 Million | +6.13% |
| 2018-12-31 | Nkr839.18 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to ECIT AS'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 63.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Nkr23.00 Million | 1.66% |
| Other Components | Nkr1.36 Billion | 98.34% |
| Total Equity | Nkr1.38 Billion | 100.00% |
ECIT AS Competitors by Market Cap
The table below lists competitors of ECIT AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Promotora Ambiental S.A.B. de C.V
MX:PASAB
|
$119.28 Million |
|
Cuckoo Homesys Co Ltd
KO:284740
|
$119.32 Million |
|
Eternal Hospitality Group Co.,Ltd.
PINK:TORIF
|
$119.40 Million |
|
Indigo Acquisition Corp. Ordinary Shares
NASDAQ:INAC
|
$119.41 Million |
|
Kim Loong Resources Bhd
KLSE:5027
|
$119.24 Million |
|
Moury Construct SA
BR:MOUR
|
$119.23 Million |
|
DIGITAL VALUE SPA
F:L9U
|
$119.22 Million |
|
Sight Sciences Inc
NASDAQ:SGHT
|
$119.21 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ECIT AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 1,288,000,000 to 1,382,000,000, a change of 94,000,000 (7.3%).
- Net income of 110,000,000 contributed positively to equity growth.
- Dividend payments of 18,000,000 reduced retained earnings.
- Share repurchases of 28,000,000 reduced equity.
- New share issuances of 11,000,000 increased equity.
- Other factors increased equity by 19,000,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr110.00 Million | +7.96% |
| Dividends Paid | Nkr18.00 Million | -1.3% |
| Share Repurchases | Nkr28.00 Million | -2.03% |
| Share Issuances | Nkr11.00 Million | +0.8% |
| Other Changes | Nkr19.00 Million | +1.37% |
| Total Change | Nkr- | 7.30% |
Book Value vs Market Value Analysis
This analysis compares ECIT AS'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: 3.24x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 4.51x to 3.24x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | Nkr2.19 | Nkr9.88 | x |
| 2019-12-31 | Nkr2.30 | Nkr9.88 | x |
| 2020-12-31 | Nkr2.41 | Nkr9.88 | x |
| 2021-12-31 | Nkr2.70 | Nkr9.88 | x |
| 2022-12-31 | Nkr2.87 | Nkr9.88 | x |
| 2023-12-31 | Nkr3.05 | Nkr9.88 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ECIT AS 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): 7.96%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.20%
- • Asset Turnover: 0.91x
- • Equity Multiplier: 2.73x
- Recent ROE (7.96%) is below the historical average (7.99%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 7.17% | 4.95% | 0.86x | 1.68x | Nkr-20.84 Million |
| 2019 | 5.36% | 3.08% | 0.85x | 2.06x | Nkr-35.82 Million |
| 2020 | 14.95% | 6.63% | 0.87x | 2.60x | Nkr40.14 Million |
| 2021 | 4.09% | 2.06% | 0.93x | 2.15x | Nkr-70.80 Million |
| 2022 | 8.39% | 3.82% | 0.93x | 2.36x | Nkr-20.80 Million |
| 2023 | 7.96% | 3.20% | 0.91x | 2.73x | Nkr-28.20 Million |
Industry Comparison
This section compares ECIT AS's net assets metrics with peer companies in the Information Technology Services industry.
Industry Context
- Industry: Information Technology Services
- Average net assets among peers: $615,178,313
- Average return on equity (ROE) among peers: 17.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ECIT AS (ECIT) | Nkr1.79 Billion | 7.17% | 1.15x | $119.26 Million |
| Arribatec Solutions ASA (ARR) | $316.51 Million | -15.44% | 0.74x | $20.05 Million |
| Bouvet (BOUV) | $453.30 Million | 71.79% | 2.79x | $438.90 Million |
| Itera ASA (ITERA) | $46.37 Million | 89.73% | 4.20x | $6.98 Million |
| River Tech plc (RIVER) | $11.39 Million | -51.74% | 1.05x | $3.12 Million |
| Spir Group ASA (SPIR) | $1.28 Billion | 2.63% | 0.88x | $28.24 Million |
| TietoEVRY Oyj (TIETO) | $1.82 Billion | 16.01% | 0.97x | $1.35 Billion |
| Webstep ASA (WSTEP) | $380.18 Million | 9.67% | 0.56x | $18.51 Million |