Incitec Pivot Limited
Dyno Nobel Limited, together with its subsidiaries, manufactures and distributes industrial explosives, chemicals, and fertilizers in the United States and Australia. It offers packaged explosives, including Powermite, a cartridge explosive; and Dynosplit for pre-split applications, as well as ammonium nitrates. The company also provides initiation systems, such as BlastWeb II, an underground bla… Read more
Incitec Pivot Limited (ICPVF) - Net Assets
Latest net assets as of September 2025: $4.43 Billion USD
Based on the latest financial reports, Incitec Pivot Limited (ICPVF) has net assets worth $4.43 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.83 Billion) and total liabilities ($3.40 Billion). 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 | $4.43 Billion |
| % of Total Assets | 56.62% |
| Annual Growth Rate | 9.74% |
| 5-Year Change | -17.43% |
| 10-Year Change | -3.31% |
| Growth Volatility | 102.48 |
Incitec Pivot Limited - Net Assets Trend (2003–2025)
This chart illustrates how Incitec Pivot Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Incitec Pivot Limited (2003–2025)
The table below shows the annual net assets of Incitec Pivot Limited from 2003 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $4.43 Billion | -8.50% |
| 2024-09-30 | $4.84 Billion | -24.61% |
| 2023-09-30 | $6.43 Billion | +2.18% |
| 2022-09-30 | $6.29 Billion | +17.16% |
| 2021-09-30 | $5.37 Billion | +3.18% |
| 2020-09-30 | $5.20 Billion | +11.00% |
| 2019-09-30 | $4.69 Billion | -1.19% |
| 2018-09-30 | $4.74 Billion | -0.31% |
| 2017-09-30 | $4.76 Billion | +3.81% |
| 2016-09-30 | $4.58 Billion | -2.21% |
| 2015-09-30 | $4.69 Billion | +6.38% |
| 2014-09-30 | $4.41 Billion | +4.44% |
| 2013-09-30 | $4.22 Billion | +4.67% |
| 2012-09-30 | $4.03 Billion | +8.76% |
| 2011-09-30 | $3.71 Billion | +2.64% |
| 2010-09-30 | $3.61 Billion | +6.81% |
| 2009-09-30 | $3.38 Billion | +7.16% |
| 2008-09-30 | $3.16 Billion | +489.78% |
| 2007-09-30 | $535.00 Million | +40.79% |
| 2006-09-30 | $380.00 Million | -32.76% |
| 2005-09-30 | $565.16 Million | -10.51% |
| 2004-09-30 | $631.52 Million | +10.14% |
| 2003-09-30 | $573.38 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Incitec Pivot Limited'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 31244.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.57 Billion | 35.47% |
| Common Stock | $3.07 Billion | 69.34% |
| Other Comprehensive Income | $-213.40 Million | -4.82% |
| Total Equity | $4.43 Billion | 100.00% |
Incitec Pivot Limited Competitors by Market Cap
The table below lists competitors of Incitec Pivot Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Xinmei Real Estate Co Ltd Class A
SHG:600732
|
$2.52 Billion |
|
Constellium SE
F:3OK
|
$2.53 Billion |
|
Northern Oil & Gas Inc
NYSE:NOG
|
$2.53 Billion |
|
Loomis AB ser. B
ST:LOOMIS
|
$2.53 Billion |
|
Sendas Distribuidora S.A.
PINK:ASAIY
|
$2.52 Billion |
|
Guangdong HongDa Blasting Co Ltd
SHE:002683
|
$2.52 Billion |
|
Mandatum Oyj
PINK:MANDF
|
$2.52 Billion |
|
Taiwan Glass Ind Corp
TW:1802
|
$2.52 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Incitec Pivot Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,845,900,000 to 4,431,100,000, a change of -414,800,000 (-8.6%).
- Net income of 96,178,410 contributed positively to equity growth.
- Dividend payments of 107,283,546 reduced retained earnings.
- Share repurchases of 190,902,576 reduced equity.
- Other comprehensive income increased equity by 83,700,000.
- Other factors decreased equity by 296,492,288.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $96.18 Million | +2.17% |
| Dividends Paid | $107.28 Million | -2.42% |
| Share Repurchases | $190.90 Million | -4.31% |
| Other Comprehensive Income | $83.70 Million | +1.89% |
| Other Changes | $-296.49 Million | -6.69% |
| Total Change | $- | -8.56% |
Book Value vs Market Value Analysis
This analysis compares Incitec Pivot Limited'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: 0.64x
- 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 1.82x to 0.64x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-09-30 | $0.83 | $1.51 | x |
| 2004-09-30 | $0.49 | $1.51 | x |
| 2005-09-30 | $0.44 | $1.51 | x |
| 2006-09-30 | $0.30 | $1.51 | x |
| 2007-09-30 | $0.48 | $1.51 | x |
| 2008-09-30 | $2.66 | $1.51 | x |
| 2009-09-30 | $2.19 | $1.51 | x |
| 2010-09-30 | $2.22 | $1.51 | x |
| 2011-09-30 | $2.27 | $1.51 | x |
| 2012-09-30 | $2.47 | $1.51 | x |
| 2013-09-30 | $2.59 | $1.51 | x |
| 2014-09-30 | $2.68 | $1.51 | x |
| 2015-09-30 | $2.79 | $1.51 | x |
| 2016-09-30 | $2.72 | $1.51 | x |
| 2017-09-30 | $2.82 | $1.51 | x |
| 2018-09-30 | $2.85 | $1.51 | x |
| 2019-09-30 | $2.91 | $1.51 | x |
| 2020-09-30 | $2.99 | $1.51 | x |
| 2021-09-30 | $2.76 | $1.51 | x |
| 2022-09-30 | $3.23 | $1.51 | x |
| 2023-09-30 | $3.30 | $1.51 | x |
| 2024-09-30 | $2.50 | $1.51 | x |
| 2025-09-30 | $2.36 | $1.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Incitec Pivot Limited 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): 2.17%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.92%
- • Asset Turnover: 0.31x
- • Equity Multiplier: 1.77x
- Recent ROE (2.17%) is below the historical average (7.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | -3.25% | -2.71% | 0.79x | 1.51x | $-75.96 Million |
| 2004 | 11.88% | 6.61% | 1.17x | 1.54x | $11.89 Million |
| 2005 | 0.74% | 0.39% | 1.25x | 1.52x | $-52.36 Million |
| 2006 | 12.28% | 4.20% | 0.85x | 3.43x | $8.66 Million |
| 2007 | 38.37% | 14.92% | 0.84x | 3.06x | $151.80 Million |
| 2008 | 19.16% | 20.69% | 0.36x | 2.59x | $289.07 Million |
| 2009 | -5.32% | -5.26% | 0.52x | 1.96x | $-518.01 Million |
| 2010 | 11.37% | 14.00% | 0.46x | 1.75x | $49.58 Million |
| 2011 | 12.51% | 11.85% | 0.56x | 1.89x | $93.03 Million |
| 2012 | 12.68% | 14.58% | 0.50x | 1.74x | $107.79 Million |
| 2013 | 8.82% | 10.92% | 0.44x | 1.82x | $-49.98 Million |
| 2014 | 5.61% | 7.37% | 0.42x | 1.81x | $-193.33 Million |
| 2015 | 8.51% | 10.94% | 0.40x | 1.96x | $-69.92 Million |
| 2016 | 2.80% | 3.82% | 0.39x | 1.89x | $-329.92 Million |
| 2017 | 6.71% | 9.18% | 0.39x | 1.86x | $-156.61 Million |
| 2018 | 4.39% | 5.39% | 0.43x | 1.89x | $-265.87 Million |
| 2019 | 3.25% | 3.89% | 0.42x | 2.00x | $-316.38 Million |
| 2020 | 2.37% | 3.13% | 0.42x | 1.79x | $-396.93 Million |
| 2021 | 2.78% | 3.43% | 0.46x | 1.75x | $-387.76 Million |
| 2022 | 16.12% | 16.05% | 0.58x | 1.73x | $384.74 Million |
| 2023 | 8.71% | 10.29% | 0.52x | 1.64x | $-82.68 Million |
| 2024 | -6.42% | -5.89% | 0.63x | 1.73x | $-795.49 Million |
| 2025 | 2.17% | 3.92% | 0.31x | 1.77x | $-346.93 Million |
Industry Comparison
This section compares Incitec Pivot Limited's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $7,181,833,981
- Average return on equity (ROE) among peers: 7.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Incitec Pivot Limited (ICPVF) | $4.43 Billion | -3.25% | 0.77x | $2.52 Billion |
| AirBoss of America Corp (ABSSF) | $197.00 Million | -16.19% | 1.24x | $57.06 Million |
| Asia Carbon Industries Inc (ACRB) | $19.13 Million | 17.11% | 0.33x | $0.98 |
| Aimia Inc (AIMFF) | $1.29 Billion | -4.63% | 2.83x | $103.68 Million |
| L'Air Liquide S.A (AIQUF) | $11.83 Billion | 14.08% | 1.26x | $107.70 Billion |
| Akzo Nobel N.V (AKZOF) | $7.58 Billion | 14.03% | 1.29x | $9.73 Billion |
| Albemarle Corp (ALB) | $545.00 Million | 9.41% | 1.09x | $19.53 Billion |
| ALPEK S.A.B. de C.V (ALPKF) | $49.59 Billion | 15.64% | 1.50x | $214.40 Million |
| Altech Batteries Limited (ALTHF) | $97.54 Million | -5.87% | 0.01x | $27.89 Million |
| Arcadium Lithium plc (ALTM) | $333.00 Million | 14.14% | 0.12x | $6.26 Billion |
| Alto Ingredients Inc (ALTO) | $345.21 Million | 13.35% | 0.40x | $212.84 Million |