Gear Energy
Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan. Gear Energy Ltd. is headquartered in Calgary, Canada. As of February 5, 2025, Gear Energy Ltd. operat… Read more
Gear Energy (GXE) - Net Assets
Latest net assets as of September 2024: CA$245.13 Million CAD
Based on the latest financial reports, Gear Energy (GXE) has net assets worth CA$245.13 Million CAD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$339.27 Million) and total liabilities (CA$94.14 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 | CA$245.13 Million |
| % of Total Assets | 72.25% |
| Annual Growth Rate | 5.77% |
| 5-Year Change | 29.9% |
| 10-Year Change | 32.99% |
| Growth Volatility | 36.39 |
Gear Energy - Net Assets Trend (2011–2023)
This chart illustrates how Gear Energy's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Gear Energy (2011–2023)
The table below shows the annual net assets of Gear Energy from 2011 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | CA$236.74 Million | -5.91% |
| 2022-12-31 | CA$251.61 Million | +26.41% |
| 2021-12-31 | CA$199.05 Million | +89.70% |
| 2020-12-31 | CA$104.93 Million | -42.43% |
| 2019-12-31 | CA$182.25 Million | -3.02% |
| 2018-12-31 | CA$187.93 Million | +20.52% |
| 2017-12-31 | CA$155.93 Million | +9.63% |
| 2016-12-31 | CA$142.23 Million | +51.05% |
| 2015-12-31 | CA$94.16 Million | -47.11% |
| 2014-12-31 | CA$178.02 Million | +41.10% |
| 2013-12-31 | CA$126.16 Million | +1.21% |
| 2012-12-31 | CA$124.66 Million | +3.27% |
| 2011-12-31 | CA$120.71 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gear Energy'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 8085300000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$348.90 Million | 147.38% |
| Other Components | CA$18.33 Million | 7.74% |
| Total Equity | CA$236.74 Million | 100.00% |
Gear Energy Competitors by Market Cap
The table below lists competitors of Gear Energy ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Helloworld Travel Ltd
AU:HLO
|
$83.57 Million |
|
AirAsia X Bhd
KLSE:5238
|
$83.58 Million |
|
The Naga Group AG
XETRA:N4G
|
$83.63 Million |
|
New Asia Construction & Development Corp
TW:2516
|
$83.75 Million |
|
INTERMONTE PRTN.SIM
F:78U
|
$83.55 Million |
|
RCM Technologies Inc
NASDAQ:RCMT
|
$83.52 Million |
|
AA Industrial Belting
SHG:603580
|
$83.47 Million |
|
Metropolitan Land Tbk
JK:MTLA
|
$83.43 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gear Energy's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 251,614,000 to 236,741,000, a change of -14,873,000 (-5.9%).
- Net income of 8,586,000 contributed positively to equity growth.
- Dividend payments of 24,852,000 reduced retained earnings.
- Share repurchases of 19,000 reduced equity.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$8.59 Million | +3.63% |
| Dividends Paid | CA$24.85 Million | -10.5% |
| Share Repurchases | CA$19.00K | -0.01% |
| Other Changes | CA$1.41 Million | +0.6% |
| Total Change | CA$- | -5.91% |
Book Value vs Market Value Analysis
This analysis compares Gear Energy'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: 0.53x
- 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 increased from 0.21x to 0.53x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | CA$2.24 | CA$0.48 | x |
| 2012-12-31 | CA$2.31 | CA$0.48 | x |
| 2013-12-31 | CA$2.33 | CA$0.48 | x |
| 2014-12-31 | CA$2.62 | CA$0.48 | x |
| 2015-12-31 | CA$1.31 | CA$0.48 | x |
| 2016-12-31 | CA$1.07 | CA$0.48 | x |
| 2017-12-31 | CA$0.74 | CA$0.48 | x |
| 2018-12-31 | CA$0.86 | CA$0.48 | x |
| 2019-12-31 | CA$0.83 | CA$0.48 | x |
| 2020-12-31 | CA$0.48 | CA$0.48 | x |
| 2021-12-31 | CA$0.76 | CA$0.48 | x |
| 2022-12-31 | CA$0.95 | CA$0.48 | x |
| 2023-12-31 | CA$0.90 | CA$0.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gear Energy utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.77%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.43x
- Recent ROE (3.63%) is above the historical average (-10.24%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | -12.49% | -29.45% | 0.26x | 1.65x | CA$-27.15 Million |
| 2012 | 0.44% | 0.70% | 0.37x | 1.68x | CA$-11.92 Million |
| 2013 | -0.84% | -1.09% | 0.40x | 1.95x | CA$-13.68 Million |
| 2014 | -7.35% | -7.96% | 0.44x | 2.10x | CA$-30.88 Million |
| 2015 | -102.51% | -120.09% | 0.36x | 2.40x | CA$-105.94 Million |
| 2016 | -16.65% | -36.78% | 0.23x | 1.98x | CA$-37.91 Million |
| 2017 | 6.56% | 9.97% | 0.33x | 1.97x | CA$-5.36 Million |
| 2018 | 2.71% | 4.66% | 0.29x | 2.02x | CA$-13.70 Million |
| 2019 | -3.12% | -4.30% | 0.37x | 1.98x | CA$-23.91 Million |
| 2020 | -73.69% | -118.86% | 0.25x | 2.50x | CA$-87.82 Million |
| 2021 | 40.44% | 62.39% | 0.40x | 1.60x | CA$60.59 Million |
| 2022 | 29.80% | 40.04% | 0.54x | 1.39x | CA$49.82 Million |
| 2023 | 3.63% | 5.77% | 0.44x | 1.43x | CA$-15.09 Million |
Industry Comparison
This section compares Gear Energy's net assets metrics with peer companies in the Oil & Gas E&P industry.
Industry Context
- Industry: Oil & Gas E&P
- Average net assets among peers: $138,025,772
- Average return on equity (ROE) among peers: -9.34%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gear Energy (GXE) | CA$245.13 Million | -12.49% | 0.38x | $83.57 Million |
| Advantage Oil & Gas Ltd. (AAV) | $1.21 Billion | -1.70% | 0.91x | $1.14 Billion |
| Alvopetro Energy (ALV) | $55.87 Million | -9.44% | 0.28x | $190.03 Million |
| Bison Gold Resources Inc (BGE) | $899.62K | -107.98% | 0.20x | $178.53K |
| Capitan Investment Ltd (CAI) | $8.61 Million | -19.92% | 0.13x | $283.50K |
| Canada Energy Partners Inc (CE-H) | $-617.75K | 0.00% | 0.00x | $99.62K |
| Benchmark Metals Inc (CEI) | $97.08 Million | -11.50% | 0.17x | $143.60 Million |
| Columbus Energy Limited (CEL-H) | $-587.57K | 0.00% | 0.00x | $456.61K |
| Criterium Energy Ltd. (CEQ) | $109.56K | 59.85% | 0.46x | $7.89 Million |
| Cavvy Energy Ltd. (CVVY) | $10.78 Million | -2.67% | 0.18x | $8.09K |
| District Mines Ltd (DIG-H) | $-397.45K | 0.00% | 0.00x | $1.17 Million |