Tharisa plc
Tharisa plc, an investment holding company, engages in the mining, processing, sale, and logistics of platinum group metals (PGMs) and chrome concentrates in South Africa, China, Singapore, Hong Kong, the United Arab Emirates, and internationally. It operates through four segments: PGM, Chrome, Agency and Trading, and Manufacturing. The company sells PGM concentrates, including platinum, palladiu… Read more
Tharisa plc (TIHRF) - Net Assets
Latest net assets as of September 2025: $847.84 Million USD
Based on the latest financial reports, Tharisa plc (TIHRF) has net assets worth $847.84 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.24 Billion) and total liabilities ($390.23 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 | $847.84 Million |
| % of Total Assets | 68.48% |
| Annual Growth Rate | 28.49% |
| 5-Year Change | 88.35% |
| 10-Year Change | 320.02% |
| Growth Volatility | 78.68 |
Tharisa plc - Net Assets Trend (2012–2025)
This chart illustrates how Tharisa plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tharisa plc (2012–2025)
The table below shows the annual net assets of Tharisa plc from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $847.84 Million | +8.76% |
| 2024-09-30 | $779.58 Million | +15.46% |
| 2023-09-30 | $675.18 Million | +10.30% |
| 2022-09-30 | $612.12 Million | +35.99% |
| 2021-09-30 | $450.14 Million | +40.30% |
| 2020-09-30 | $320.83 Million | +11.09% |
| 2019-09-30 | $288.79 Million | -3.20% |
| 2018-09-30 | $298.34 Million | +9.74% |
| 2017-09-30 | $271.85 Million | +34.67% |
| 2016-09-30 | $201.86 Million | +12.80% |
| 2015-09-30 | $178.95 Million | -14.73% |
| 2014-09-30 | $209.85 Million | +491.22% |
| 2013-09-30 | $-53.64 Million | -264.63% |
| 2012-09-30 | $32.58 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tharisa plc'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 69215100000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $572.64 Million | 72.33% |
| Common Stock | $323.00K | 0.04% |
| Other Comprehensive Income | $-120.87 Million | -15.27% |
| Other Components | $339.63 Million | 42.90% |
| Total Equity | $791.72 Million | 100.00% |
Tharisa plc Competitors by Market Cap
The table below lists competitors of Tharisa plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
LIFENET INSURANCE CO.
F:7XJ
|
$211.12 Million |
|
Handsome
KO:020000
|
$211.12 Million |
|
Cinderson Tech (Suzhou) Co., Ltd.
SHG:603344
|
$211.12 Million |
|
Vastned Retail Belgium
BR:VASTB
|
$211.16 Million |
|
Tivoli A/S
CO:TIV
|
$210.87 Million |
|
WPG (Shanghai) Smart Water Public Co. Ltd
SHG:603956
|
$210.86 Million |
|
Petrovietnam Camau Fertilizer
VN:DCM
|
$210.85 Million |
|
Sichuan Zigong Conveying Machine Group Co Ltd
SHE:001288
|
$210.70 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tharisa plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 722,259,000 to 791,720,000, a change of 69,461,000 (9.6%).
- Net income of 79,134,000 contributed positively to equity growth.
- Dividend payments of 13,376,000 reduced retained earnings.
- Share repurchases of 3,690,000 reduced equity.
- Other comprehensive income increased equity by 51,754,492.
- Other factors decreased equity by 44,361,492.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $79.13 Million | +10.0% |
| Dividends Paid | $13.38 Million | -1.69% |
| Share Repurchases | $3.69 Million | -0.47% |
| Other Comprehensive Income | $51.75 Million | +6.54% |
| Other Changes | $-44.36 Million | -5.6% |
| Total Change | $- | 9.62% |
Book Value vs Market Value Analysis
This analysis compares Tharisa plc'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: 0.32x
- 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 5.20x to 0.32x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-09-30 | $0.16 | $0.83 | x |
| 2013-09-30 | $-0.15 | $0.83 | x |
| 2014-09-30 | $0.95 | $0.83 | x |
| 2015-09-30 | $0.85 | $0.83 | x |
| 2016-09-30 | $0.92 | $0.83 | x |
| 2017-09-30 | $1.15 | $0.83 | x |
| 2018-09-30 | $1.23 | $0.83 | x |
| 2019-09-30 | $1.22 | $0.83 | x |
| 2020-09-30 | $1.31 | $0.83 | x |
| 2021-09-30 | $1.65 | $0.83 | x |
| 2022-09-30 | $1.96 | $0.83 | x |
| 2023-09-30 | $2.03 | $0.83 | x |
| 2024-09-30 | $2.35 | $0.83 | x |
| 2025-09-30 | $2.60 | $0.83 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tharisa plc 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): 10.00%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.81%
- • Asset Turnover: 0.54x
- • Equity Multiplier: 1.56x
- Recent ROE (10.00%) is above the historical average (4.84%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | -54.34% | -38.88% | 0.13x | 11.14x | $-24.81 Million |
| 2013 | 0.00% | -18.07% | 0.56x | 0.00x | $-35.19 Million |
| 2014 | -20.77% | -20.35% | 0.69x | 1.47x | $-72.59 Million |
| 2015 | 2.13% | 1.87% | 0.82x | 1.39x | $-17.05 Million |
| 2016 | 5.83% | 5.85% | 0.74x | 1.35x | $-9.87 Million |
| 2017 | 19.40% | 16.64% | 0.90x | 1.30x | $27.91 Million |
| 2018 | 14.91% | 12.89% | 0.82x | 1.40x | $15.95 Million |
| 2019 | 3.29% | 3.27% | 0.72x | 1.40x | $-21.66 Million |
| 2020 | 12.32% | 10.96% | 0.78x | 1.44x | $8.16 Million |
| 2021 | 22.66% | 16.85% | 0.85x | 1.58x | $56.14 Million |
| 2022 | 27.53% | 22.43% | 0.73x | 1.68x | $97.98 Million |
| 2023 | 13.35% | 13.23% | 0.57x | 1.77x | $20.65 Million |
| 2024 | 11.48% | 11.49% | 0.60x | 1.67x | $10.67 Million |
| 2025 | 10.00% | 11.81% | 0.54x | 1.56x | $-38.00K |
Industry Comparison
This section compares Tharisa plc's net assets metrics with peer companies in the Other Precious Metals & Mining industry.
Industry Context
- Industry: Other Precious Metals & Mining
- Average net assets among peers: $9,705,177,506
- Average return on equity (ROE) among peers: -74.66%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tharisa plc (TIHRF) | $847.84 Million | -54.34% | 0.46x | $210.97 Million |
| AbraSilver Resource Corp (ABBRF) | $3.05 Million | -108.70% | 0.31x | $280.10 Million |
| American Copper Development Corporation (ACDXF) | $-331.64K | 0.00% | 0.00x | $1.96 Million |
| American Creek Resources Ltd (ACKRF) | $2.36 Million | -67.11% | 0.29x | $23.79 Million |
| American Clean Resources Group Inc. (ACRG) | $23.29 Million | -69.73% | 0.66x | $9.52 Million |
| Adyton Resources Corporation (ADYRF) | $14.98 Million | 5.60% | 0.05x | $26.44 Million |
| Austral Gold Limited (AGLDF) | $542.56K | -504.60% | 1.47x | $4.83 Million |
| Anglo American Platinum Limited (AGPPF) | $96.96 Billion | 50.69% | 0.82x | $8.40 Billion |
| Athena Gold Corp (AHNR) | $4.96 Million | -13.77% | 0.26x | $779.22K |
| Alaska Energy Metals Corporation (AKEMF) | $26.15 Million | -33.81% | 0.05x | $14.55 Million |
| ALXPF (ALXPF) | $14.77 Million | -5.14% | 0.08x | $24.72 Million |