2020 Bulkers Ltd
2020 Bulkers Ltd. owns and operates large dry bulk vessels worldwide. The company operates six scrubber fitted 208,000 deadweight tonnage Newcastlemax dry bulk vessels. 2020 Bulkers Ltd. was incorporated in 2017 and is based in Hamilton, Bermuda.
2020 Bulkers Ltd (TTBKF) - Net Assets
Latest net assets as of December 2025: $148.40 Million USD
Based on the latest financial reports, 2020 Bulkers Ltd (TTBKF) has net assets worth $148.40 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 ($270.20 Million) and total liabilities ($121.80 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 | $148.40 Million |
| % of Total Assets | 54.92% |
| Annual Growth Rate | 33.29% |
| 5-Year Change | -2.18% |
| 10-Year Change | N/A |
| Growth Volatility | 118.1 |
2020 Bulkers Ltd - Net Assets Trend (2017–2025)
This chart illustrates how 2020 Bulkers Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for 2020 Bulkers Ltd (2017–2025)
The table below shows the annual net assets of 2020 Bulkers Ltd from 2017 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $148.40 Million | -2.30% |
| 2024-12-31 | $151.90 Million | -5.65% |
| 2023-12-31 | $161.00 Million | +3.27% |
| 2022-12-31 | $155.90 Million | +2.77% |
| 2021-12-31 | $151.70 Million | +6.76% |
| 2020-12-31 | $142.10 Million | +2.90% |
| 2019-12-31 | $138.10 Million | +102.22% |
| 2018-12-31 | $68.29 Million | +358.38% |
| 2017-12-31 | $14.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to 2020 Bulkers Ltd'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 11340460000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $113.30 Million | 76.45% |
| Common Stock | $22.90 Million | 15.45% |
| Other Components | $12.00 Million | 8.10% |
| Total Equity | $148.20 Million | 100.00% |
2020 Bulkers Ltd Competitors by Market Cap
The table below lists competitors of 2020 Bulkers Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
KTK Group Co Ltd
SHG:603680
|
$236.32 Million |
|
Elma Electronic AG
SW:ELMN
|
$236.38 Million |
|
FDM Group (Holdings) plc
PINK:FDDMF
|
$236.45 Million |
|
Beijing Dataway Horizon Co. Ltd
SHE:301169
|
$236.46 Million |
|
Iron Horse Acquisitions II Corp. Common Stock
NASDAQ:IRHO
|
$236.15 Million |
|
Tredegar Corporation
NYSE:TG
|
$236.08 Million |
|
HUYA Inc
NYSE:HUYA
|
$236.03 Million |
|
Canatu Oyj A
HE:CANATU
|
$235.92 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in 2020 Bulkers Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 151,800,000 to 148,200,000, a change of -3,600,000 (-2.4%).
- Net income of 30,366,468 contributed positively to equity growth.
- Dividend payments of 28,600,000 reduced retained earnings.
- New share issuances of 100,000 increased equity.
- Other factors decreased equity by 5,466,468.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $30.37 Million | +20.49% |
| Dividends Paid | $28.60 Million | -19.3% |
| Share Issuances | $100.00K | +0.07% |
| Other Changes | $-5.47 Million | -3.69% |
| Total Change | $- | -2.37% |
Book Value vs Market Value Analysis
This analysis compares 2020 Bulkers Ltd'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: 1.76x
- 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 1.43x to 1.76x 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 | $7.98 | $11.40 | x |
| 2018-12-31 | $6.62 | $11.40 | x |
| 2019-12-31 | $7.30 | $11.40 | x |
| 2020-12-31 | $6.41 | $11.40 | x |
| 2021-12-31 | $6.73 | $11.40 | x |
| 2022-12-31 | $6.92 | $11.40 | x |
| 2023-12-31 | $7.13 | $11.40 | x |
| 2024-12-31 | $6.64 | $11.40 | x |
| 2025-12-31 | $6.48 | $11.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently 2020 Bulkers Ltd 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): 20.49%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 45.45%
- • Asset Turnover: 0.25x
- • Equity Multiplier: 1.82x
- Recent ROE (20.49%) is above the historical average (17.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | -0.71% | 0.00% | 0.00x | 1.01x | $-1.60 Million |
| 2018 | -1.14% | 0.00% | 0.00x | 1.01x | $-7.60 Million |
| 2019 | -0.29% | -4.40% | 0.03x | 2.05x | $-14.21 Million |
| 2020 | 7.81% | 22.70% | 0.12x | 2.78x | $-3.11 Million |
| 2021 | 46.67% | 62.21% | 0.29x | 2.57x | $55.63 Million |
| 2022 | 20.46% | 41.92% | 0.20x | 2.44x | $16.31 Million |
| 2023 | 15.90% | 36.16% | 0.19x | 2.34x | $9.50 Million |
| 2024 | 50.26% | 106.42% | 0.27x | 1.76x | $61.12 Million |
| 2025 | 20.49% | 45.45% | 0.25x | 1.82x | $15.55 Million |
Industry Comparison
This section compares 2020 Bulkers Ltd's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $6,996,338,635
- Average return on equity (ROE) among peers: 158.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| 2020 Bulkers Ltd (TTBKF) | $148.40 Million | -0.71% | 0.82x | $236.31 Million |
| Algoma Central Corporation (AGMJF) | $726.02 Million | 16.52% | 0.88x | $198.30 Million |
| AP Moeller - Maersk A/S A (AMKAF) | $32.09 Billion | -6.04% | 0.90x | $11.30 Billion |
| A.P. Møller - Mærsk A/S (AMKBF) | $33.38 Billion | 9.46% | 0.70x | $12.49 Billion |
| Ardmore Shpng (ASC) | $634.34 Million | 6.47% | 0.24x | $516.76 Million |
| American Shipping Company ASA (ASCJF) | $114.51 Million | 1340.53% | 0.68x | $11.92 Million |
| Britannia Bulk Holdings Inc (BBLKF) | $72.78 Million | 63.23% | 4.43x | $9.84 |
| Braemar Shipping Services Plc (BSEAF) | $64.82 Million | 15.12% | 0.70x | $79.62 Million |
| BW LPG Limited (BWLP) | $1.94 Billion | 17.27% | 0.71x | $1.17 Billion |
| Caravelle International Group Ordinary Shares (CACO) | $10.02 Million | 122.03% | 2.55x | $12.08 Million |
| Capital Clean Energy Carriers Corp. (CCEC) | $933.40 Million | 4.05% | 0.57x | $172.78 Million |