TortoiseEcofin Acquisition Corp. III
TortoiseEcofin Acquisition Corp. III does not have significant operations. It focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Zephyr Cove, Nevada.
TortoiseEcofin Acquisition Corp. III (TRTLF) - Net Assets
Latest net assets as of June 2024: $154.80 Million USD
Based on the latest financial reports, TortoiseEcofin Acquisition Corp. III (TRTLF) has net assets worth $154.80 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 ($170.32 Million) and total liabilities ($15.52 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 | $154.80 Million |
| % of Total Assets | 90.89% |
| Annual Growth Rate | -26.84% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 26.58 |
TortoiseEcofin Acquisition Corp. III - Net Assets Trend (2021–2023)
This chart illustrates how TortoiseEcofin Acquisition Corp. III's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TortoiseEcofin Acquisition Corp. III (2021–2023)
The table below shows the annual net assets of TortoiseEcofin Acquisition Corp. III from 2021 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $171.76 Million | -48.73% |
| 2022-12-31 | $334.98 Million | +4.43% |
| 2021-12-31 | $320.76 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TortoiseEcofin Acquisition Corp. III'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 1264385700.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $183.35 Million | 106.75% |
| Total Equity | $171.76 Million | 100.00% |
TortoiseEcofin Acquisition Corp. III Competitors by Market Cap
The table below lists competitors of TortoiseEcofin Acquisition Corp. III ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hangzhou Landscaping Incorporated
SHG:605303
|
$157.95 Million |
|
Serko Limited
PINK:SERKF
|
$158.03 Million |
|
ECKOH PLC LS-0025
F:TZ5A
|
$158.10 Million |
|
CapsoVision, Inc. Common Stock
NASDAQ:CV
|
$158.13 Million |
|
Liaoning Dingjide Petrochemical Co. Ltd.
SHG:603255
|
$157.76 Million |
|
Adairs Ltd
AU:ADH
|
$157.74 Million |
|
COLTENE Holding AG
PINK:CLHLF
|
$157.65 Million |
|
Thesis Gold Inc
OTCQX:THSGF
|
$157.64 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TortoiseEcofin Acquisition Corp. III's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 334,980,589 to 171,756,124, a change of -163,224,465 (-48.7%).
- Net income of 12,848,246 contributed positively to equity growth.
- Share repurchases of 180,870,897 reduced equity.
- Other factors increased equity by 4,798,186.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $12.85 Million | +7.48% |
| Share Repurchases | $180.87 Million | -105.31% |
| Other Changes | $4.80 Million | +2.79% |
| Total Change | $- | -48.73% |
Book Value vs Market Value Analysis
This analysis compares TortoiseEcofin Acquisition Corp. III'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: 1.67x
- 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 1.49x to 1.67x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $7.44 | $11.06 | x |
| 2022-12-31 | $7.77 | $11.06 | x |
| 2023-12-31 | $6.63 | $11.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TortoiseEcofin Acquisition Corp. III 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): 7.48%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.07x
- Recent ROE (7.48%) is above the historical average (5.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | 4.24% | 0.00% | 0.00x | 1.05x | $-19.28 Million |
| 2023 | 7.48% | 0.00% | 0.00x | 1.07x | $-4.33 Million |
Industry Comparison
This section compares TortoiseEcofin Acquisition Corp. III's net assets metrics with peer companies in the Shell Companies industry.
Industry Context
- Industry: Shell Companies
- Average net assets among peers: $36,677,338
- Average return on equity (ROE) among peers: -64.57%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TortoiseEcofin Acquisition Corp. III (TRTLF) | $154.80 Million | 4.24% | 0.10x | $157.84 Million |
| Artius II Acquisition Inc. Class A Ordinary Shares (AACB) | $-60.27K | 0.00% | 0.00x | $198.37 Million |
| Artius II Acquisition Inc. Units (AACBU) | $-60.27K | 0.00% | 0.00x | $205.28 Million |
| Ares Acquisition Corporation II (AACT-UN) | $931.34 Million | 0.00% | 0.08x | $399.77 Million |
| AA Mission Acquisition Corp. (AAM-UN) | $-559.90 Million | 0.00% | 0.00x | $349.76 Million |
| Global Acquisitions Corporation (AASP) | $3.80 Million | -5.26% | 0.34x | $15.42 Million |
| ABV Consulting Inc (ABVN) | $8.75K | -623.31% | 2.50x | $461.96K |
| Atlantic Coastal Acquisition Corp II (ACAB) | $-8.52 Million | 0.00% | 0.00x | $2.44 Million |
| Annabidiol Corp (ACBD) | $-501.57K | 0.00% | 0.00x | $13.62K |
| ACRO Biomedical Co Ltd (ACBM) | $685.87K | -17.12% | 0.46x | $30.04K |
| Huaizhong Health Group Inc (ADAD) | $-19.47K | 0.00% | 0.00x | $3.15K |