Primary Hydrogen Corp
Primary Hydrogen Corp. engages in the acquisition, exploration, and development of natural hydrogen properties in Canada. The company was formerly known as Millbank Mining Corp. and changed its name to Primary Hydrogen Corp. in November 2024. Primary Hydrogen Corp. was incorporated in 2020 and is based in Calgary, Canada.
Primary Hydrogen Corp (HNATF) - Net Assets
Latest net assets as of August 2025: $3.09 Million USD
Based on the latest financial reports, Primary Hydrogen Corp (HNATF) has net assets worth $3.09 Million USD as of August 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.50 Million) and total liabilities ($403.12K). 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 | $3.09 Million |
| % of Total Assets | 88.47% |
| Annual Growth Rate | 81.76% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 461.32 |
Primary Hydrogen Corp - Net Assets Trend (2021–2024)
This chart illustrates how Primary Hydrogen Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Primary Hydrogen Corp (2021–2024)
The table below shows the annual net assets of Primary Hydrogen Corp from 2021 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-11-30 | $3.19 Million | +954.10% |
| 2023-11-30 | $302.65K | -23.92% |
| 2022-11-30 | $397.80K | -25.10% |
| 2021-11-30 | $531.09K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Primary Hydrogen Corp'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 133477300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (November 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $4.79 Million | 150.23% |
| Total Equity | $3.19 Million | 100.00% |
Primary Hydrogen Corp Competitors by Market Cap
The table below lists competitors of Primary Hydrogen Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rockridge Resources Ltd
PINK:RRRLF
|
$1.26 Million |
|
Formosa Ingredient Factory PT Tbk
JK:BOBA
|
$1.26 Million |
|
Datametrex AI Limited
PINK:DTMXD
|
$1.26 Million |
|
DAVITA HLTH CARE
MU:TRL
|
$1.26 Million |
|
District Copper Corp
PINK:CAXPF
|
$1.26 Million |
|
Amir Marketing and Investments in Agriculture Ltd
TA:AMRK
|
$1.26 Million |
|
OCEAN SUN AS NK -01
F:OW7
|
$1.26 Million |
|
JEMTEC Inc
V:JTC
|
$1.26 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Primary Hydrogen Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 302,646 to 3,190,184, a change of 2,887,538 (954.1%).
- Net loss of 1,003,843 reduced equity.
- New share issuances of 3,453,201 increased equity.
- Other factors increased equity by 438,180.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-1.00 Million | -31.47% |
| Share Issuances | $3.45 Million | +108.24% |
| Other Changes | $438.18K | +13.74% |
| Total Change | $- | 954.10% |
Book Value vs Market Value Analysis
This analysis compares Primary Hydrogen Corp'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: 0.26x
- 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 0.58x to 0.26x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-11-30 | $0.46 | $0.27 | x |
| 2022-11-30 | $0.35 | $0.27 | x |
| 2023-11-30 | $0.26 | $0.27 | x |
| 2024-11-30 | $1.01 | $0.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Primary Hydrogen Corp 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): -31.47%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-31.47%) is above the historical average (-41.75%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -44.81% | 0.00% | 0.00x | 1.04x | $-291.10K |
| 2022 | -59.27% | 0.00% | 0.00x | 1.06x | $-275.56K |
| 2023 | -31.44% | 0.00% | 0.00x | 1.07x | $-125.42K |
| 2024 | -31.47% | 0.00% | 0.00x | 1.06x | $-1.32 Million |
Industry Comparison
This section compares Primary Hydrogen Corp's net assets metrics with peer companies in the Other Industrial Metals & Mining industry.
Industry Context
- Industry: Other Industrial Metals & Mining
- Average net assets among peers: $2,436,539,064
- Average return on equity (ROE) among peers: -72.31%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Primary Hydrogen Corp (HNATF) | $3.09 Million | -44.81% | 0.13x | $1.26 Million |
| Asia Broadband Inc (AABB) | $-384.18K | 0.00% | 0.00x | $228.54 |
| Altair Resources Inc (AAEEF) | $519.85K | -583.77% | 3.27x | $165.38K |
| Aftermath Silver Ltd (AAGFF) | $26.16 Million | -26.37% | 0.41x | $99.81 Million |
| Anglo American plc (AAUKF) | $24.32 Billion | 6.55% | 1.06x | $26.36 Billion |
| Abacus Mining & Exploration Corporation (ABCFF) | $-123.88K | 0.00% | 0.00x | $1.95 Million |
| Vision Lithium Inc (ABEPF) | $-384.45K | 0.00% | 0.00x | $3.75 Million |
| Arbor Metals Corp (ABRMF) | $700.32K | -22.12% | 0.03x | $3.05 Million |
| ACG Metals Limited (ACGAF) | $3.51 Million | -77.72% | 0.31x | $121.32 Million |
| ACME Lithium Inc (ACLHF) | $-1.00 Million | 0.00% | 0.00x | $561.74K |
| ACMNF (ACMNF) | $11.40 Million | -19.68% | 0.16x | $14.34 Million |