Western Bulk Chartering AS (WEST) - Net Assets
Based on the latest financial reports, Western Bulk Chartering AS (WEST) has net assets worth Nkr50.81 Million NOK (≈ $5.35 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr108.57 Million ≈ $11.42 Million USD) and total liabilities (Nkr57.76 Million ≈ $6.08 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 Western Bulk Chartering AS tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Nkr50.81 Million |
| % of Total Assets | 46.8% |
| Annual Growth Rate | 15.63% |
| 5-Year Change | -0.62% |
| 10-Year Change | N/A |
| Growth Volatility | 53.2 |
Western Bulk Chartering AS - Net Assets Trend (2016–2025)
This chart illustrates how Western Bulk Chartering AS's net assets have evolved over time, based on quarterly financial data. See WEST defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Western Bulk Chartering AS (2016–2025)
The table below shows the annual net assets of Western Bulk Chartering AS from 2016 to 2025. For live valuation and market cap data, see Western Bulk Chartering AS market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Nkr50.81 Million ≈ $5.35 Million |
+2.16% |
| 2024-12-31 | Nkr49.74 Million ≈ $5.23 Million |
-5.24% |
| 2023-12-31 | Nkr52.48 Million ≈ $5.52 Million |
-22.94% |
| 2022-12-31 | Nkr68.10 Million ≈ $7.17 Million |
+33.21% |
| 2021-12-31 | Nkr51.13 Million ≈ $5.38 Million |
+158.13% |
| 2020-12-31 | Nkr19.81 Million ≈ $2.08 Million |
+23.93% |
| 2019-12-31 | Nkr15.98 Million ≈ $1.68 Million |
-33.68% |
| 2018-12-31 | Nkr24.10 Million ≈ $2.54 Million |
+19.38% |
| 2017-12-31 | Nkr20.19 Million ≈ $2.12 Million |
+46.81% |
| 2016-12-31 | Nkr13.75 Million ≈ $1.45 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Western Bulk Chartering 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 grown by 7179500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Nkr38.34 Million | 75.45% |
| Common Stock | Nkr205.00K | 0.40% |
| Other Components | Nkr12.27 Million | 24.14% |
| Total Equity | Nkr50.81 Million | 100.00% |
Western Bulk Chartering AS Competitors by Market Cap
The table below lists competitors of Western Bulk Chartering AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shih Kuen Plastics Co Ltd
TWO:4305
|
$77.13 Million |
|
RS Automation Co.Ltd
KQ:140670
|
$77.13 Million |
|
Bound and Beyond PCL
BK:BEYOND
|
$77.19 Million |
|
AGFA Gevaert NV
BR:AGFB
|
$77.20 Million |
|
Estika Tata Tiara Tbk PT
JK:BEEF
|
$77.08 Million |
|
Forum Markets, Incorporated
NASDAQ:FRMM
|
$77.08 Million |
|
AB Kauno Energija
STU:WVJ
|
$77.04 Million |
|
Courtside Group, Inc. Common Stock
NASDAQ:PODC
|
$76.96 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Western Bulk Chartering AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 49,736,000 to 50,810,000, a change of 1,074,000 (2.2%).
- Net income of 5,375,000 contributed positively to equity growth.
- Other factors decreased equity by 4,301,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr5.38 Million | +10.58% |
| Other Changes | Nkr-4.30 Million | -8.46% |
| Total Change | Nkr- | 2.16% |
Book Value vs Market Value Analysis
This analysis compares Western Bulk Chartering 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: 14.42x
- 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 15.11x to 14.42x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | Nkr1.44 | Nkr21.80 | x |
| 2017-12-31 | Nkr1.43 | Nkr21.80 | x |
| 2018-12-31 | Nkr1.70 | Nkr21.80 | x |
| 2019-12-31 | Nkr0.48 | Nkr21.80 | x |
| 2020-12-31 | Nkr0.60 | Nkr21.80 | x |
| 2021-12-31 | Nkr1.52 | Nkr21.80 | x |
| 2022-12-31 | Nkr2.03 | Nkr21.80 | x |
| 2023-12-31 | Nkr1.56 | Nkr21.80 | x |
| 2024-12-31 | Nkr1.48 | Nkr21.80 | x |
| 2025-12-31 | Nkr1.51 | Nkr21.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Western Bulk Chartering 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): 10.58%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.55%
- • Asset Turnover: 9.06x
- • Equity Multiplier: 2.14x
- Recent ROE (10.58%) is above the historical average (-22.10%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | -268.97% | -5.85% | 6.41x | 7.17x | Nkr-38.36 Million |
| 2017 | 21.27% | 0.52% | 8.16x | 5.02x | Nkr2.28 Million |
| 2018 | 17.41% | 0.39% | 9.19x | 4.83x | Nkr1.79 Million |
| 2019 | -237.57% | -3.57% | 9.00x | 7.39x | Nkr-39.57 Million |
| 2020 | 16.17% | 0.41% | 9.81x | 4.01x | Nkr1.22 Million |
| 2021 | 158.48% | 5.45% | 7.57x | 3.85x | Nkr75.91 Million |
| 2022 | 96.88% | 4.08% | 9.94x | 2.39x | Nkr59.17 Million |
| 2023 | -29.76% | -1.40% | 9.33x | 2.28x | Nkr-20.87 Million |
| 2024 | -5.53% | -0.22% | 10.80x | 2.36x | Nkr-7.72 Million |
| 2025 | 10.58% | 0.55% | 9.06x | 2.14x | Nkr294.00K |
Industry Comparison
This section compares Western Bulk Chartering AS's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $398,098,882
- Average return on equity (ROE) among peers: -11.63%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Western Bulk Chartering AS (WEST) | Nkr50.81 Million | -268.97% | 1.14x | $77.12 Million |
| 2020 Bulkers Ltd (2020) | $68.29 Million | -1.14% | 0.01x | $9.57 Million |
| ADS Maritime Holding Plc (ADS) | $20.10 Million | 18.41% | 0.59x | $17.49 Million |
| American Shipping Company ASA (AMSC) | $191.66 Million | 5.45% | 0.97x | $7.19K |
| Golden Energy Offshore Services AS (GEOS) | $140.31 Million | -111.35% | 2.37x | $71.78 Million |
| Golden Ocean Group Ltd (GOGL) | $1.37 Billion | -10.06% | 0.99x | $1.75 Billion |
| Hafnia Ltd (HAFNI) | $366.79 Million | -50.88% | 2.11x | $3.64 Billion |
| Hoegh Autoliners ASA (HAUTO) | $1.42 Billion | 36.04% | 0.46x | $3.09 Billion |
| Havila Shipping ASA (HAVI) | $-93.50 Million | 0.00% | 0.00x | $35.47 Million |
| Himalaya Shipping Ltd (HSHP) | $91.78 Million | -1.06% | 0.04x | $687.25 Million |
| Jinhui Shipping and Transportation Limited (JIN) | $411.14 Million | -1.73% | 0.31x | $70.36 Million |
About Western Bulk Chartering AS
Western Bulk Chartering AS, together with its subsidiaries, operates as a dry bulk shipping company. The company engages in owning, chartering and operating ships, dry bulk vessels for the transportation of products, such as minerals, timber, cement, bauxite, steel products, grains, coal, and other products; and operation of chartered-in fleet varies between 100 and 150 vessels, including time ch… Read more