Cardinal Ethanol LLC
Cardinal Ethanol, LLC engages in production and sale of fuel-grade ethanol, distiller grains, corn oil, and raw carbon dioxide in the continental United States. The company's ethanol is used as an octane enhancer in fuels; an oxygenated fuel additive for reducing ozone and carbon monoxide emissions; and a non-petroleum-based gasoline substitute. It also offers distillers grains for applications a… Read more
Cardinal Ethanol LLC (CRDE) - Net Assets
Latest net assets as of June 2024: $169.71 Million USD
Based on the latest financial reports, Cardinal Ethanol LLC (CRDE) has net assets worth $169.71 Million USD as of June 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($266.25 Million) and total liabilities ($96.54 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $169.71 Million |
| % of Total Assets | 63.74% |
| Annual Growth Rate | 2.76% |
| 5-Year Change | 53.66% |
| 10-Year Change | 12.76% |
| Growth Volatility | 10.93 |
Cardinal Ethanol LLC - Net Assets Trend (2013–2023)
This chart illustrates how Cardinal Ethanol LLC's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Cardinal Ethanol LLC (2013–2023)
The table below shows the annual net assets of Cardinal Ethanol LLC from 2013 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-09-30 | $172.53 Million | +17.15% |
| 2022-09-30 | $147.27 Million | +18.06% |
| 2021-09-30 | $124.74 Million | +14.49% |
| 2020-09-30 | $108.95 Million | -2.97% |
| 2019-09-30 | $112.28 Million | -6.70% |
| 2018-09-30 | $120.34 Million | -4.93% |
| 2017-09-30 | $126.58 Million | -2.87% |
| 2016-09-30 | $130.32 Million | -7.32% |
| 2015-09-30 | $140.61 Million | -8.10% |
| 2014-09-30 | $153.00 Million | +16.37% |
| 2013-09-30 | $131.48 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cardinal Ethanol LLC'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 10163147500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $101.63 Million | 58.91% |
| Other Components | $70.90 Million | 41.09% |
| Total Equity | $172.53 Million | 100.00% |
Cardinal Ethanol LLC Competitors by Market Cap
The table below lists competitors of Cardinal Ethanol LLC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
St.Shine Optical Co Ltd
TWO:1565
|
$147.19 Million |
|
Yanpai Filtration Technology Co.Ltd.
SHE:301081
|
$147.19 Million |
|
BerGenBio ASA
PINK:BRRGF
|
$147.25 Million |
|
Harbin Sayyas Windows Co. Ltd. A
SHE:301227
|
$147.26 Million |
|
APAC Opto Electronics
TWO:4908
|
$147.09 Million |
|
Dogu Aras Enerji Yatirimlari AS
IS:ARASE
|
$147.06 Million |
|
AVY Precision Technology
TWO:5392
|
$146.98 Million |
|
Suzhou Longjie Special Fiber Co Ltd
SHG:603332
|
$146.89 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cardinal Ethanol LLC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 147,270,492 to 172,533,017, a change of 25,262,525 (17.2%).
- Net income of 69,818,591 contributed positively to equity growth.
- Dividend payments of 42,445,395 reduced retained earnings.
- Other factors decreased equity by 2,110,671.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $69.82 Million | +40.47% |
| Dividends Paid | $42.45 Million | -24.6% |
| Other Changes | $-2.11 Million | -1.22% |
| Total Change | $- | 17.15% |
Book Value vs Market Value Analysis
This analysis compares Cardinal Ethanol LLC'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: 1.35x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.15x to 1.35x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-09-30 | $7459.08 | $16000.00 | x |
| 2021-09-30 | $8540.16 | $16000.00 | x |
| 2022-09-30 | $10082.88 | $16000.00 | x |
| 2023-09-30 | $11812.48 | $16000.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cardinal Ethanol LLC 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): 40.47%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.89%
- • Asset Turnover: 2.16x
- • Equity Multiplier: 1.35x
- Recent ROE (40.47%) is above the historical average (22.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 20.05% | 7.37% | 2.12x | 1.28x | $13.21 Million |
| 2014 | 57.03% | 25.87% | 2.03x | 1.09x | $71.96 Million |
| 2015 | 27.54% | 16.09% | 1.53x | 1.12x | $24.66 Million |
| 2016 | 10.38% | 6.07% | 1.45x | 1.18x | $489.77K |
| 2017 | 10.61% | 5.88% | 1.44x | 1.26x | $766.34K |
| 2018 | 6.34% | 2.86% | 1.85x | 1.20x | $-4.40 Million |
| 2019 | -5.88% | -2.53% | 1.90x | 1.23x | $-17.83 Million |
| 2020 | -1.05% | -0.47% | 1.89x | 1.19x | $-12.04 Million |
| 2021 | 21.73% | 6.71% | 2.66x | 1.22x | $14.64 Million |
| 2022 | 58.19% | 15.68% | 2.89x | 1.28x | $70.98 Million |
| 2023 | 40.47% | 13.89% | 2.16x | 1.35x | $52.57 Million |
Industry Comparison
This section compares Cardinal Ethanol LLC's net assets metrics with peer companies in the Chemicals industry.
Industry Context
- Industry: Chemicals
- Average net assets among peers: $4,551,697,655
- Average return on equity (ROE) among peers: 0.97%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cardinal Ethanol LLC (CRDE) | $169.71 Million | 20.05% | 0.57x | $147.10 Million |
| Synalloy Corporation (ACNT) | $26.00 Million | 24.62% | 0.65x | $96.97 Million |
| Advance ZincTek Limited (ADVNF) | $34.99 Million | 6.26% | 0.09x | $5.02 Million |
| AdvanSix Inc (ASIX) | $215.36 Million | 15.86% | 3.20x | $435.20 Million |
| ASP Isotopes Inc. Common Stock (ASPI) | $6.00 Million | -43.48% | 0.19x | $437.78 Million |
| Braskem SA Class A (BAK) | $5.89 Billion | 14.66% | 7.38x | $970.61 Million |
| Bachem Holding AG (BCHMF) | $389.21 Million | 11.99% | 0.14x | $1.98 Billion |
| BASF SE NA O.N. (BFFAF) | $36.11 Billion | 13.04% | 1.40x | $47.09 Billion |
| BioLargo Inc (BLGO) | $-770.20K | 0.00% | 0.00x | $51.87 Million |
| Black Swan Graphene Inc. (BSWGF) | $13.83 Million | -43.99% | 0.01x | $10.07 Million |
| Celanese Corporation (CE) | $2.83 Billion | 10.75% | 2.03x | $6.44 Billion |