Havila Shipping ASA (HAVI) - Net Assets
Based on the latest financial reports, Havila Shipping ASA (HAVI) has net assets worth Nkr289.13 Million NOK (≈ $30.42 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 (Nkr1.46 Billion ≈ $154.09 Million USD) and total liabilities (Nkr1.18 Billion ≈ $123.67 Million USD). 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 HAVI strategic asset allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Nkr289.13 Million |
| % of Total Assets | 19.74% |
| Annual Growth Rate | 1.57% |
| 5-Year Change | 1651.57% |
| 10-Year Change | N/A |
| Growth Volatility | 418.51 |
Havila Shipping ASA - Net Assets Trend (2004–2025)
This chart illustrates how Havila Shipping ASA's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see how much is Havila Shipping ASA worth.
Annual Net Assets for Havila Shipping ASA (2004–2025)
The table below shows the annual net assets of Havila Shipping ASA from 2004 to 2025. Also explore net asset momentum of Havila Shipping ASA to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Nkr336.58 Million ≈ $35.42 Million |
+2.88% |
| 2024-12-31 | Nkr327.17 Million ≈ $34.43 Million |
+1574.87% |
| 2023-12-31 | Nkr19.53 Million ≈ $2.06 Million |
+120.89% |
| 2022-12-31 | Nkr-93.50 Million ≈ $-9.84 Million |
-586.56% |
| 2021-12-31 | Nkr19.22 Million ≈ $2.02 Million |
-85.99% |
| 2020-12-31 | Nkr137.14 Million ≈ $14.43 Million |
+113.26% |
| 2019-12-31 | Nkr-1.03 Billion ≈ $-108.87 Million |
-45.19% |
| 2018-12-31 | Nkr-712.54 Million ≈ $-74.98 Million |
-268.40% |
| 2017-12-31 | Nkr423.14 Million ≈ $44.53 Million |
+160.45% |
| 2016-12-31 | Nkr-699.94 Million ≈ $-73.65 Million |
-239.32% |
| 2015-12-31 | Nkr502.40 Million ≈ $52.87 Million |
-75.15% |
| 2014-12-31 | Nkr2.02 Billion ≈ $212.78 Million |
+0.02% |
| 2013-12-31 | Nkr2.02 Billion ≈ $212.73 Million |
+0.67% |
| 2012-12-31 | Nkr2.01 Billion ≈ $211.32 Million |
+10.99% |
| 2011-12-31 | Nkr1.81 Billion ≈ $190.39 Million |
+6.74% |
| 2010-12-31 | Nkr1.70 Billion ≈ $178.37 Million |
-0.45% |
| 2009-12-31 | Nkr1.70 Billion ≈ $179.18 Million |
+51.25% |
| 2008-12-31 | Nkr1.13 Billion ≈ $118.47 Million |
+28.01% |
| 2007-12-31 | Nkr879.48 Million ≈ $92.55 Million |
-11.11% |
| 2006-12-31 | Nkr989.43 Million ≈ $104.12 Million |
+53.08% |
| 2005-12-31 | Nkr646.35 Million ≈ $68.01 Million |
+166.19% |
| 2004-12-31 | Nkr242.82 Million ≈ $25.55 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 60980100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Nkr68.79 Million | 20.44% |
| Other Components | Nkr877.59 Million | 260.74% |
| Total Equity | Nkr336.58 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 |
|---|---|
|
Mida Assets Public Company Limited
BK:MIDA
|
$32.00 Million |
|
Medico Remedies Limited
NSE:MEDICO
|
$32.02 Million |
|
Kocom Co. Ltd
KQ:015710
|
$32.04 Million |
|
T S Flour Mill Public Company Limited
BK:TMILL
|
$32.06 Million |
|
TeraGo Inc.
TO:TGO
|
$31.98 Million |
|
KWG Group Holdings Limited
F:KOU
|
$31.98 Million |
|
Emami Realty Limited
NSE:EMAMIREAL
|
$31.97 Million |
|
ES Ceramics Technology Bhd
KLSE:0100
|
$31.96 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 2024 to 2025, total equity changed from 327,170,000 to 336,581,000, a change of 9,411,000 (2.9%).
- Net income of 10,028,000 contributed positively to equity growth.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr10.03 Million | +2.98% |
| Other Changes | Nkr-617.00K | -0.18% |
| Total Change | Nkr- | 2.88% |
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: 0.90x
- 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 2.53x to 0.90x 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 | Nkr1.11 | x |
| 2005-12-31 | Nkr677.51 | Nkr1.11 | x |
| 2006-12-31 | Nkr899.88 | Nkr1.11 | x |
| 2007-12-31 | Nkr754.80 | Nkr1.11 | x |
| 2008-12-31 | Nkr965.26 | Nkr1.11 | x |
| 2009-12-31 | Nkr1476.11 | Nkr1.11 | x |
| 2010-12-31 | Nkr1469.96 | Nkr1.11 | x |
| 2011-12-31 | Nkr1372.87 | Nkr1.11 | x |
| 2012-12-31 | Nkr1285.27 | Nkr1.11 | x |
| 2013-12-31 | Nkr937.36 | Nkr1.11 | x |
| 2014-12-31 | Nkr935.69 | Nkr1.11 | x |
| 2015-12-31 | Nkr232.48 | Nkr1.11 | x |
| 2016-12-31 | Nkr-323.89 | Nkr1.11 | x |
| 2017-12-31 | Nkr27.46 | Nkr1.11 | x |
| 2018-12-31 | Nkr-32.41 | Nkr1.11 | x |
| 2019-12-31 | Nkr-43.51 | Nkr1.11 | x |
| 2020-12-31 | Nkr5.77 | Nkr1.11 | x |
| 2021-12-31 | Nkr0.03 | Nkr1.11 | x |
| 2022-12-31 | Nkr-0.16 | Nkr1.11 | x |
| 2023-12-31 | Nkr0.03 | Nkr1.11 | x |
| 2024-12-31 | Nkr1.19 | Nkr1.11 | x |
| 2025-12-31 | Nkr1.22 | Nkr1.11 | 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): 2.98%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.63%
- • Asset Turnover: 0.41x
- • Equity Multiplier: 4.46x
- Recent ROE (2.98%) is below the historical average (83.63%), 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 |
| 2025 | 2.98% | 1.63% | 0.41x | 4.46x | Nkr-23.63 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: $335,081,067
- Average return on equity (ROE) among peers: -2.25%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Havila Shipping ASA (HAVI) | Nkr289.13 Million | 15.51% | 4.06x | $32.00 Million |
| 2020 Bulkers Ltd (2020) | $151.90 Million | 50.23% | 0.76x | $10.24 Million |
| ADS Maritime Holding Plc (ADS) | $55.99 Million | 0.00% | 0.65x | $18.23 Million |
| American Shipping Company ASA (AMSC) | $234.54 Million | 9.80% | 3.26x | $7.19K |
| Golden Energy Offshore Services AS (GEOS) | $231.72 Million | -84.34% | 5.32x | $47.91 Million |
| Golden Ocean Group Ltd (GOGL) | $222.31 Million | 21.62% | 0.49x | $1.75 Billion |
| Hafnia Ltd (HAFNI) | $366.79 Million | -50.88% | 2.11x | $4.62 Billion |
| Hoegh Autoliners ASA (HAUTO) | $1.42 Billion | 36.04% | 0.46x | $3.67 Billion |
| Himalaya Shipping Ltd (HSHP) | $91.78 Million | -1.06% | 0.04x | $829.61 Million |
| Jinhui Shipping and Transportation Limited (JIN) | $245.03 Million | -1.65% | 0.65x | $79.10 Million |
About 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, and Iceland. The company operates a fleet of vessels, including platform supply vessels, rescue recovery vessels, and subsea vessels, as well as ocean patrol vessels. Its subsea vessels a… Read more