Electrovaya Inc. (ELVA) - Net Assets

Latest as of September 2025: CA$31.13 Million CAD ≈ $22.52 Million USD

Based on the latest financial reports, Electrovaya Inc. (ELVA) has net assets worth CA$31.13 Million CAD (≈ $22.52 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 (CA$63.93 Million ≈ $46.25 Million USD) and total liabilities (CA$32.80 Million ≈ $23.73 Million USD). 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. Check ELVA cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$31.13 Million
% of Total Assets	48.69%
Annual Growth Rate	6.07%
5-Year Change	N/A
10-Year Change	291.53%
Growth Volatility	167.57

Electrovaya Inc. - Net Assets Trend (1997–2025)

This chart illustrates how Electrovaya Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore total assets of Electrovaya Inc. for the complete picture of this company's asset base.

Annual Net Assets for Electrovaya Inc. (1997–2025)

The table below shows the annual net assets of Electrovaya Inc. from 1997 to 2025. For live valuation and market cap data, see Electrovaya Inc. (ELVA) market capitalisation.

Year	Net Assets	Change
2025-09-30	CA$31.13 Million ≈ $22.52 Million	+262.57%
2024-09-30	CA$8.59 Million ≈ $6.21 Million	+20.14%
2023-09-30	CA$7.15 Million ≈ $5.17 Million	+220.73%
2022-09-30	CA$-5.92 Million ≈ $-4.28 Million	-249.00%
2021-09-30	CA$-1.70 Million ≈ $-1.23 Million	+80.54%
2020-09-30	CA$-8.71 Million ≈ $-6.30 Million	+38.91%
2019-09-30	CA$-14.27 Million ≈ $-10.32 Million	-3.69%
2018-09-30	CA$-13.76 Million ≈ $-9.95 Million	-1026.78%
2017-09-30	CA$-1.22 Million ≈ $-883.25K	-115.36%
2016-09-30	CA$7.95 Million ≈ $5.75 Million	-36.59%
2015-09-30	CA$12.54 Million ≈ $9.07 Million	+142.68%
2014-09-30	CA$5.17 Million ≈ $3.74 Million	+10.31%
2013-09-30	CA$4.68 Million ≈ $3.39 Million	-50.34%
2012-09-30	CA$9.43 Million ≈ $6.82 Million	+15.93%
2011-09-30	CA$8.13 Million ≈ $5.88 Million	-12.43%
2010-09-30	CA$9.29 Million ≈ $6.72 Million	-8.18%
2009-09-30	CA$10.12 Million ≈ $7.32 Million	-0.26%
2008-09-30	CA$10.14 Million ≈ $7.34 Million	-31.77%
2007-09-30	CA$14.87 Million ≈ $10.75 Million	-15.06%
2006-09-30	CA$17.50 Million ≈ $12.66 Million	-28.20%
2005-09-30	CA$24.38 Million ≈ $17.63 Million	-3.14%
2004-09-30	CA$25.17 Million ≈ $18.21 Million	-22.25%
2003-09-30	CA$32.37 Million ≈ $23.41 Million	-15.60%
2002-09-30	CA$38.35 Million ≈ $27.74 Million	-20.91%
2001-09-30	CA$48.49 Million ≈ $35.08 Million	+66.85%
2000-09-30	CA$29.06 Million ≈ $21.02 Million	+730.57%
1999-09-30	CA$3.50 Million ≈ $2.53 Million	-24.19%
1998-09-30	CA$4.62 Million ≈ $3.34 Million	-22.85%
1997-09-30	CA$5.98 Million ≈ $4.33 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Electrovaya Inc.'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 12466819200.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (September 2025)

Component	Amount	Percentage
Common Stock	CA$134.87 Million	433.28%
Other Comprehensive Income	CA$5.91 Million	18.98%
Other Components	CA$16.23 Million	52.15%
Total Equity	CA$31.13 Million	100.00%

Electrovaya Inc. Competitors by Market Cap

The table below lists competitors of Electrovaya Inc. ranked by their market capitalization.

Company	Market Cap
European Lithium Ltd AU:EUR	$460.99 Million
Dongbu Steel Co Ltd KO:016380	$461.08 Million
Shaanxi Jinye Science Technology and Education Group Co Ltd SHE:000812	$461.18 Million
Banco de Valores SA BA:VALO	$461.40 Million
Holcim Argentina SA BA:HARG	$460.82 Million
WATERDROP INC.ADS/10 CL.A F:717	$460.70 Million
Guangzhou Devotion Therm Tech SHE:300335	$460.69 Million
Anzheng Fashion SHG:603839	$460.55 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Electrovaya Inc.'s equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 8,585,000 to 31,127,000, a change of 22,542,000 (262.6%).
Net income of 4,702,544 contributed positively to equity growth.
Share repurchases of 16,378,000 reduced equity.
Other comprehensive income increased equity by 117,000.
Other factors increased equity by 34,100,456.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$4.70 Million	+15.11%
Share Repurchases	CA$16.38 Million	-52.62%
Other Comprehensive Income	CA$117.00K	+0.38%
Other Changes	CA$34.10 Million	+109.55%
Total Change	CA$-	262.57%

Book Value vs Market Value Analysis

This analysis compares Electrovaya Inc.'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: 17.15x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 23.47x to 17.15x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1997-09-30	CA$0.55	CA$12.90	x
1998-09-30	CA$0.42	CA$12.90	x
1999-09-30	CA$0.32	CA$12.90	x
2000-09-30	CA$2.67	CA$12.90	x
2001-09-30	CA$4.60	CA$12.90	x
2002-09-30	CA$2.76	CA$12.90	x
2003-09-30	CA$2.33	CA$12.90	x
2004-09-30	CA$1.81	CA$12.90	x
2005-09-30	CA$1.75	CA$12.90	x
2006-09-30	CA$1.26	CA$12.90	x
2007-09-30	CA$1.07	CA$12.90	x
2008-09-30	CA$0.73	CA$12.90	x
2009-09-30	CA$0.72	CA$12.90	x
2010-09-30	CA$0.66	CA$12.90	x
2011-09-30	CA$0.57	CA$12.90	x
2012-09-30	CA$0.66	CA$12.90	x
2013-09-30	CA$0.33	CA$12.90	x
2014-09-30	CA$0.36	CA$12.90	x
2015-09-30	CA$0.79	CA$12.90	x
2016-09-30	CA$0.47	CA$12.90	x
2017-09-30	CA$-0.07	CA$12.90	x
2018-09-30	CA$-0.70	CA$12.90	x
2019-09-30	CA$-0.67	CA$12.90	x
2020-09-30	CA$-0.36	CA$12.90	x
2021-09-30	CA$-0.06	CA$12.90	x
2022-09-30	CA$-0.20	CA$12.90	x
2023-09-30	CA$0.21	CA$12.90	x
2024-09-30	CA$0.25	CA$12.90	x
2025-09-30	CA$0.75	CA$12.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Electrovaya Inc. 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): 15.11%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.27%
• Asset Turnover: 1.40x
• Equity Multiplier: 2.05x
Recent ROE (15.11%) is above the historical average (-25.96%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1997	-20.27%	-168445555.56%	0.00x	1.04x	CA$-1.81 Million
1998	-17.65%	-1805.90%	0.01x	1.04x	CA$-1.28 Million
1999	-37.85%	-2778.85%	0.01x	1.06x	CA$-1.67 Million
2000	-5.22%	-996.76%	0.00x	1.06x	CA$-4.42 Million
2001	-14.78%	-704.86%	0.02x	1.02x	CA$-12.02 Million
2002	-26.05%	-335.71%	0.08x	1.03x	CA$-13.83 Million
2003	-30.51%	-228.45%	0.13x	1.05x	CA$-13.11 Million
2004	-33.63%	-132.89%	0.24x	1.06x	CA$-10.98 Million
2005	-25.93%	-96.67%	0.25x	1.07x	CA$-8.76 Million
2006	-45.37%	-236.60%	0.18x	1.09x	CA$-9.69 Million
2007	-31.21%	-198.02%	0.14x	1.12x	CA$-6.13 Million
2008	-38.99%	-155.64%	0.20x	1.25x	CA$-4.97 Million
2009	-5.70%	-15.26%	0.28x	1.32x	CA$-1.59 Million
2010	-25.31%	-46.79%	0.42x	1.29x	CA$-3.28 Million
2011	-30.08%	-23.84%	0.62x	2.03x	CA$-3.26 Million
2012	-41.09%	-39.29%	0.47x	2.25x	CA$-4.81 Million
2013	-97.44%	-160.49%	0.18x	3.30x	CA$-5.03 Million
2014	-66.73%	-46.54%	0.60x	2.39x	CA$-3.96 Million
2015	-25.47%	-19.27%	0.61x	2.18x	CA$-4.45 Million
2016	-110.61%	-45.00%	0.63x	3.88x	CA$-9.59 Million
2017	0.00%	-241.52%	0.25x	0.00x	CA$-21.05 Million
2018	0.00%	-402.22%	0.36x	0.00x	CA$-21.28 Million
2019	0.00%	-58.00%	2.34x	0.00x	CA$-1.41 Million
2020	0.00%	8.14%	1.28x	0.00x	CA$1.98 Million
2021	0.00%	-75.93%	0.66x	0.00x	CA$-7.36 Million
2022	0.00%	-58.97%	0.86x	0.00x	CA$-8.62 Million
2023	-20.70%	-3.41%	1.19x	5.11x	CA$-2.19 Million
2024	-17.30%	-3.33%	1.13x	4.60x	CA$-2.34 Million
2025	15.11%	5.27%	1.40x	2.05x	CA$1.59 Million

Industry Comparison

This section compares Electrovaya Inc.'s net assets metrics with peer companies in the Electrical Equipment & Parts industry.

Industry Context

Industry: Electrical Equipment & Parts
Average net assets among peers: $22,098,037
Average return on equity (ROE) among peers: -10.32%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Electrovaya Inc. (ELVA)	CA$31.13 Million	-20.27%	1.05x	$460.84 Million
Braille Energy Systems Inc (BES)	$197.41K	0.00%	0.13x	$2.87 Million
Ballard Power Systems Inc (BLDP)	$92.34 Million	-36.19%	0.79x	$875.15 Million
Eguana Technologies Inc (EGT)	$-6.62 Million	0.00%	0.00x	$4.09 Million
Enerev5 Metals Inc (ENEV)	$-334.65K	0.00%	0.00x	$2.02 Million
Tantalus Systems Holding Inc (GRID)	$2.32 Million	-72.68%	14.01x	$252.59 Million
Hammond Manufacturing Company Limited (HMM-A)	$46.56 Million	9.79%	0.84x	$81.70 Million
Hammond Power Solutions Inc (HPS-A)	$44.48 Million	27.88%	0.58x	$1.91 Billion
Legend Power Systems Inc (LPS)	$-163.04K	0.00%	0.00x	$9.75 Million
FuelPositive Corp (NHHH)	$20.10 Million	-21.67%	0.03x	$15.93 Million

About Electrovaya Inc.

TO:ELVA Canada Electrical Equipment & Parts

Market Cap

$460.84 Million

CA$637.05 Million CAD

Market Cap Rank

#12950 Global

#369 in Canada

Share Price

CA$12.90

Change (1 day)

+2.46%

52-Week Range

CA$3.73 - CA$15.34

All Time High

CA$20.75