First Ship Lease Trust
First Ship Lease Trust, a business trust, owns a fleet of vessels in various shipping sub-sectors in Asia, Europe, and internationally. The company is involved in leasing and chartering vessels on long-term bareboat charters to the international shipping industry; and on short-term time charters, or in pools or spot markets. As of December 31, 2021, it operated 11 vessels, which included eight sm… Read more
First Ship Lease Trust (FSLUF) - Net Assets
Latest net assets as of December 2025: $43.41 Million USD
Based on the latest financial reports, First Ship Lease Trust (FSLUF) has net assets worth $43.41 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 ($43.94 Million) and total liabilities ($532.00K). 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 | $43.41 Million |
| % of Total Assets | 98.79% |
| Annual Growth Rate | -15.21% |
| 5-Year Change | -34.39% |
| 10-Year Change | -82.46% |
| Growth Volatility | 23.81 |
First Ship Lease Trust - Net Assets Trend (2014–2025)
This chart illustrates how First Ship Lease Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for First Ship Lease Trust (2014–2025)
The table below shows the annual net assets of First Ship Lease Trust from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $43.41 Million | +18.76% |
| 2024-12-31 | $36.55 Million | -33.32% |
| 2023-12-31 | $54.81 Million | +7.18% |
| 2022-12-31 | $51.14 Million | -22.70% |
| 2021-12-31 | $66.16 Million | -48.94% |
| 2020-12-31 | $129.56 Million | -36.14% |
| 2019-12-31 | $202.88 Million | +30.67% |
| 2018-12-31 | $155.26 Million | -10.61% |
| 2017-12-31 | $173.69 Million | -29.81% |
| 2016-12-31 | $247.45 Million | -11.05% |
| 2015-12-31 | $278.18 Million | +4.29% |
| 2014-12-31 | $266.73 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Ship Lease Trust'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 25906500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $554.61 Million | 1277.69% |
| Total Equity | $43.41 Million | 100.00% |
First Ship Lease Trust Competitors by Market Cap
The table below lists competitors of First Ship Lease Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ODTech Co. Ltd
KQ:080520
|
$17.03 Million |
|
Duro Felguera
MC:MDF
|
$17.03 Million |
|
Aadi Bioscience Inc
NASDAQ:AADI
|
$17.03 Million |
|
KMH Hitech Co. Ltd
KQ:052900
|
$17.04 Million |
|
Favelle Favco Bhd
KLSE:7229
|
$17.02 Million |
|
GO Element Co. Ltd.
KQ:311320
|
$17.02 Million |
|
GRODNO S.A. ZY-10
F:WO7
|
$17.01 Million |
|
Eva Live Inc. Common Stock
OTCQB:GOAI
|
$17.01 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Ship Lease Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 36,550,000 to 43,407,000, a change of 6,857,000 (18.8%).
- Net income of 6,857,000 contributed positively to equity growth.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $6.86 Million | +15.8% |
| Total Change | $- | 18.76% |
Book Value vs Market Value Analysis
This analysis compares First Ship Lease Trust'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: 1.63x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.15x to 1.63x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | $0.27 | $0.04 | x |
| 2018-12-31 | $0.24 | $0.04 | x |
| 2019-12-31 | $0.11 | $0.04 | x |
| 2020-12-31 | $0.07 | $0.04 | x |
| 2021-12-31 | $0.04 | $0.04 | x |
| 2022-12-31 | $0.03 | $0.04 | x |
| 2023-12-31 | $0.03 | $0.04 | x |
| 2024-12-31 | $0.02 | $0.04 | x |
| 2025-12-31 | $0.02 | $0.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Ship Lease Trust 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): 15.80%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 113.32%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 1.01x
- Recent ROE (15.80%) is above the historical average (1.49%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 1.52% | 4.34% | 0.16x | 2.23x | $-22.62 Million |
| 2015 | 5.09% | 13.27% | 0.19x | 2.01x | $-13.67 Million |
| 2016 | -12.53% | -31.58% | 0.21x | 1.92x | $-55.74 Million |
| 2017 | -42.54% | -90.66% | 0.25x | 1.91x | $-91.26 Million |
| 2018 | -12.23% | -28.32% | 0.25x | 1.69x | $-34.51 Million |
| 2019 | 4.99% | 13.86% | 0.27x | 1.36x | $-10.16 Million |
| 2020 | 4.82% | 12.92% | 0.30x | 1.25x | $-6.71 Million |
| 2021 | -2.30% | -6.09% | 0.30x | 1.26x | $-8.14 Million |
| 2022 | 25.95% | 54.78% | 0.37x | 1.28x | $8.16 Million |
| 2023 | 6.70% | 43.13% | 0.13x | 1.20x | $-1.81 Million |
| 2024 | 22.60% | 97.69% | 0.20x | 1.17x | $4.60 Million |
| 2025 | 15.80% | 113.32% | 0.14x | 1.01x | $2.52 Million |
Industry Comparison
This section compares First Ship Lease Trust's net assets metrics with peer companies in the Rental & Leasing Services industry.
Industry Context
- Industry: Rental & Leasing Services
- Average net assets among peers: $1,407,402,768
- Average return on equity (ROE) among peers: -22.36%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Ship Lease Trust (FSLUF) | $43.41 Million | 1.52% | 0.01x | $17.02 Million |
| AerCap Holdings NV (AER) | $95.64 Million | -290.23% | 46.07x | $21.49 Billion |
| Senmiao Technology Ltd (AIHS) | $12.57 Million | -4.27% | 0.58x | $6.15 Million |
| Artificial Intelligence Technology Solutions Inc (AITX) | $-746.83K | 0.00% | 0.00x | $12.64 Million |
| Air Lease Corporation (AL) | $7.16 Billion | 8.58% | 3.25x | $6.80 Billion |
| ALD S.A (ALLDF) | $2.76 Billion | 15.36% | 4.69x | $6.73 Billion |
| Alta Equipment Group Inc (ALTG) | $-8.62K | 0.00% | 0.00x | $101.18 Million |
| TOUAX (ALTOU) | $129.11 Million | -2.48% | 2.40x | $21.06 Million |
| Autohellas S.A (AOHLF) | $195.75 Million | 11.59% | 1.92x | $66.70 Million |
| Ashtead Group plc (ASHTF) | $3.28 Billion | 20.18% | 1.84x | $20.11 Billion |
| Ashtead Gro (ASHTY) | $442.03 Million | 17.62% | 2.79x | $30.08 Billion |