Havila Shipping ASA
Havila Shipping ASA, together with its subsidiaries, engages in the shipping business. It operates and manages offshore service vessels primarily in Norway, the United Kingdom, Denmark, Belgium, the Netherlands, Iceland, Tunisia, the Marshall Islands, and the United States. The company operates a fleet of vessels, including anchor handling vessels, platform supply vessels, rescue recovery vessel,… Read more
Havila Shipping ASA (HAVI) - Net Assets
Latest net assets as of September 2025: Nkr362.92 Million NOK
Based on the latest financial reports, Havila Shipping ASA (HAVI) has net assets worth Nkr362.92 Million NOK as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr1.54 Billion) and total liabilities (Nkr1.17 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 | Nkr362.92 Million |
| % of Total Assets | 23.61% |
| Annual Growth Rate | 1.5% |
| 5-Year Change | 138.57% |
| 10-Year Change | -34.88% |
| Growth Volatility | 431.3 |
Havila Shipping ASA - Net Assets Trend (2004–2024)
This chart illustrates how Havila Shipping ASA's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Havila Shipping ASA (2004–2024)
The table below shows the annual net assets of Havila Shipping ASA from 2004 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Nkr327.17 Million | +1574.87% |
| 2023-12-31 | Nkr19.53 Million | +120.89% |
| 2022-12-31 | Nkr-93.50 Million | -586.56% |
| 2021-12-31 | Nkr19.22 Million | -85.99% |
| 2020-12-31 | Nkr137.14 Million | +113.26% |
| 2019-12-31 | Nkr-1.03 Billion | -45.19% |
| 2018-12-31 | Nkr-712.54 Million | -268.40% |
| 2017-12-31 | Nkr423.14 Million | +160.45% |
| 2016-12-31 | Nkr-699.94 Million | -239.32% |
| 2015-12-31 | Nkr502.40 Million | -75.15% |
| 2014-12-31 | Nkr2.02 Billion | +0.02% |
| 2013-12-31 | Nkr2.02 Billion | +0.67% |
| 2012-12-31 | Nkr2.01 Billion | +10.99% |
| 2011-12-31 | Nkr1.81 Billion | +6.74% |
| 2010-12-31 | Nkr1.70 Billion | -0.45% |
| 2009-12-31 | Nkr1.70 Billion | +51.25% |
| 2008-12-31 | Nkr1.13 Billion | +28.01% |
| 2007-12-31 | Nkr879.48 Million | -11.11% |
| 2006-12-31 | Nkr989.43 Million | +53.08% |
| 2005-12-31 | Nkr646.35 Million | +166.19% |
| 2004-12-31 | Nkr242.82 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Havila Shipping ASA'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 90932100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Nkr68.79 Million | 21.03% |
| Other Components | Nkr1.17 Billion | 356.91% |
| Total Equity | Nkr327.17 Million | 100.00% |
Havila Shipping ASA Competitors by Market Cap
The table below lists competitors of Havila Shipping ASA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BioMark Diagnostics Inc
PINK:BMKDF
|
$8.41 Million |
|
Taiwan Thick-Film Ind
TWO:6246
|
$8.41 Million |
|
Gauzy Ltd. Ordinary Shares
NASDAQ:GAUZ
|
$8.41 Million |
|
Gia Lai Electricity JSC
VN:GEG
|
$8.41 Million |
|
Promimic AB
ST:PRO
|
$8.40 Million |
|
Shengfeng Development Limited Class A Ordinary Shares
NASDAQ:SFWL
|
$8.40 Million |
|
Garuda Maintenance Facility AeroAsia Tbk PT
JK:GMFI
|
$8.40 Million |
|
Paringa Resources Limited
PINK:PNGZF
|
$8.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Havila Shipping ASA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 19,533,000 to 327,170,000, a change of 307,637,000 (1575.0%).
- Net income of 10,381,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 215,000.
- Other factors increased equity by 297,471,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr10.38 Million | +3.17% |
| Other Comprehensive Income | Nkr-215.00K | -0.07% |
| Other Changes | Nkr297.47 Million | +90.92% |
| Total Change | Nkr- | 1574.96% |
Book Value vs Market Value Analysis
This analysis compares Havila Shipping ASA'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: 0.86x
- 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 2.33x to 0.86x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | Nkr0.44 | Nkr1.02 | x |
| 2005-12-31 | Nkr677.51 | Nkr1.02 | x |
| 2006-12-31 | Nkr899.88 | Nkr1.02 | x |
| 2007-12-31 | Nkr754.80 | Nkr1.02 | x |
| 2008-12-31 | Nkr965.26 | Nkr1.02 | x |
| 2009-12-31 | Nkr1476.11 | Nkr1.02 | x |
| 2010-12-31 | Nkr1469.96 | Nkr1.02 | x |
| 2011-12-31 | Nkr1372.87 | Nkr1.02 | x |
| 2012-12-31 | Nkr1285.27 | Nkr1.02 | x |
| 2013-12-31 | Nkr937.36 | Nkr1.02 | x |
| 2014-12-31 | Nkr935.69 | Nkr1.02 | x |
| 2015-12-31 | Nkr232.48 | Nkr1.02 | x |
| 2016-12-31 | Nkr-323.89 | Nkr1.02 | x |
| 2017-12-31 | Nkr27.46 | Nkr1.02 | x |
| 2018-12-31 | Nkr-32.41 | Nkr1.02 | x |
| 2019-12-31 | Nkr-43.51 | Nkr1.02 | x |
| 2020-12-31 | Nkr5.77 | Nkr1.02 | x |
| 2021-12-31 | Nkr0.03 | Nkr1.02 | x |
| 2022-12-31 | Nkr-0.16 | Nkr1.02 | x |
| 2023-12-31 | Nkr0.03 | Nkr1.02 | x |
| 2024-12-31 | Nkr1.19 | Nkr1.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Havila Shipping ASA 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): 3.17%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.88%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 4.61x
- Recent ROE (3.17%) is below the historical average (87.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 15.51% | 16.44% | 0.29x | 3.27x | Nkr13.39 Million |
| 2005 | 23.12% | 29.85% | 0.22x | 3.55x | Nkr84.78 Million |
| 2006 | 29.85% | 44.19% | 0.24x | 2.77x | Nkr196.43 Million |
| 2007 | 27.24% | 44.51% | 0.15x | 3.98x | Nkr148.68 Million |
| 2008 | 27.81% | 37.85% | 0.18x | 3.98x | Nkr196.51 Million |
| 2009 | 31.85% | 59.62% | 0.16x | 3.26x | Nkr368.57 Million |
| 2010 | -0.54% | -0.88% | 0.15x | 3.98x | Nkr-177.01 Million |
| 2011 | -6.99% | -9.89% | 0.16x | 4.39x | Nkr-307.39 Million |
| 2012 | 0.01% | 0.02% | 0.15x | 4.32x | Nkr-200.61 Million |
| 2013 | 0.67% | 0.94% | 0.17x | 4.13x | Nkr-188.68 Million |
| 2014 | 0.18% | 0.21% | 0.20x | 4.14x | Nkr-198.62 Million |
| 2015 | -303.87% | -98.90% | 0.24x | 13.01x | Nkr-1.58 Billion |
| 2016 | 0.00% | -113.28% | 0.19x | 0.00x | Nkr-1.13 Billion |
| 2017 | 183.07% | 135.52% | 0.12x | 11.34x | Nkr732.32 Million |
| 2018 | 0.00% | -200.53% | 0.16x | 0.00x | Nkr-1.07 Billion |
| 2019 | 0.00% | -45.26% | 0.20x | 0.00x | Nkr-217.14 Million |
| 2020 | 886.17% | 183.11% | 0.29x | 16.90x | Nkr1.20 Billion |
| 2021 | 341.76% | 12.74% | 0.26x | 101.78x | Nkr63.75 Million |
| 2022 | 0.00% | -17.11% | 0.33x | 0.00x | Nkr-103.35 Million |
| 2023 | 577.85% | 16.97% | 0.46x | 73.73x | Nkr110.92 Million |
| 2024 | 3.17% | 1.88% | 0.37x | 4.61x | Nkr-22.34 Million |
Industry Comparison
This section compares Havila Shipping ASA's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $746,056,439
- Average return on equity (ROE) among peers: 11.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Havila Shipping ASA (HAVI) | Nkr362.92 Million | 15.51% | 3.24x | $8.40 Million |
| ADS Maritime Holding Plc (ADS) | $4.63 Million | -4.21% | 0.02x | $1.46 Million |
| Belships (BELCO) | $261.85 Million | 22.21% | 2.15x | $399.83 Million |
| Bruton Limited (BRUT) | $30.78 Million | -0.48% | 0.01x | $43.50K |
| Hafnia Ltd (HAFNI) | $2.01 Billion | 37.41% | 0.95x | $52.04 Million |
| Klaveness Combination Carriers ASA (KCC) | $359.87 Million | 22.62% | 0.70x | $168.30 Million |
| Odfjell SE (ODF) | $759.48 Million | -14.16% | 2.11x | $237.10 Million |
| Odfjell B (ODFB) | $992.80 Million | 15.65% | 1.05x | $227.05 Million |
| Solstad Offsho (SOFF) | $2.23 Billion | 5.03% | 1.42x | $156.45 Million |
| Stainless Tankers ASA (STST) | $66.92 Million | 21.87% | 1.18x | $31.91K |