Source Energy Services Ltd (SHLE) - Net Assets
Based on the latest financial reports, Source Energy Services Ltd (SHLE) has net assets worth CA$210.34 Million CAD (≈ $152.16 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$597.89 Million ≈ $432.51 Million USD) and total liabilities (CA$387.55 Million ≈ $280.35 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 Source Energy Services Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$210.34 Million |
| % of Total Assets | 35.18% |
| Annual Growth Rate | N/A |
| 5-Year Change | 480.86% |
| 10-Year Change | N/A |
| Growth Volatility | 1022.98 |
Source Energy Services Ltd - Net Assets Trend (2014–2024)
This chart illustrates how Source Energy Services Ltd's net assets have evolved over time, based on quarterly financial data. See SHLE defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Source Energy Services Ltd (2014–2024)
The table below shows the annual net assets of Source Energy Services Ltd from 2014 to 2024. For live valuation and market cap data, see market cap of Source Energy Services Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$189.87 Million ≈ $137.35 Million |
+12.26% |
| 2023-12-31 | CA$169.13 Million ≈ $122.35 Million |
+2889.75% |
| 2022-12-31 | CA$5.66 Million ≈ $4.09 Million |
-13.32% |
| 2021-12-31 | CA$6.53 Million ≈ $4.72 Million |
-80.03% |
| 2020-12-31 | CA$32.69 Million ≈ $23.65 Million |
-83.60% |
| 2019-12-31 | CA$199.31 Million ≈ $144.18 Million |
-34.58% |
| 2018-12-31 | CA$304.67 Million ≈ $220.39 Million |
+7.96% |
| 2017-12-31 | CA$282.19 Million ≈ $204.13 Million |
+576.52% |
| 2016-12-31 | CA$-59.22 Million ≈ $-42.84 Million |
-1123.03% |
| 2015-12-31 | CA$-4.84 Million ≈ $-3.50 Million |
-317.05% |
| 2014-12-31 | CA$-1.16 Million ≈ $-839.85K |
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Equity Component Analysis
This analysis shows how different components contribute to Source Energy Services 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 decreased by 24494100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$410.63 Million | 216.27% |
| Other Comprehensive Income | CA$21.72 Million | 11.44% |
| Other Components | CA$2.46 Million | 1.30% |
| Total Equity | CA$189.87 Million | 100.00% |
Source Energy Services Ltd Competitors by Market Cap
The table below lists competitors of Source Energy Services Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Audio Pixels Holdings Ltd
AU:AKP
|
$128.14 Million |
|
Nordic Halibut AS
OL:NOHAL
|
$128.21 Million |
|
Melnick Even Desenvolvimento Imobiliário S.A
SA:MELK3
|
$128.24 Million |
|
Mercator Medical S.A.
WAR:MRC
|
$128.36 Million |
|
Innoviz Technologies
NASDAQ:INVZ
|
$128.07 Million |
|
Hwa Fong Rubber Ind Co Ltd
TW:2109
|
$128.05 Million |
|
San Lien Technology
TWO:5493
|
$128.01 Million |
|
Diginex Limited Ordinary Shares
NASDAQ:DGNX
|
$127.93 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Source Energy Services Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 169,130,000 to 189,867,000, a change of 20,737,000 (12.3%).
- Net income of 9,509,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 11,228,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$9.51 Million | +5.01% |
| Other Comprehensive Income | CA$11.23 Million | +5.91% |
| Total Change | CA$- | 12.26% |
Book Value vs Market Value Analysis
This analysis compares Source Energy Services 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: 0.96x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | CA$-0.27 | CA$13.48 | x |
| 2015-12-31 | CA$-1.13 | CA$13.48 | x |
| 2016-12-31 | CA$-13.77 | CA$13.48 | x |
| 2017-12-31 | CA$76.30 | CA$13.48 | x |
| 2018-12-31 | CA$59.69 | CA$13.48 | x |
| 2019-12-31 | CA$40.32 | CA$13.48 | x |
| 2020-12-31 | CA$6.49 | CA$13.48 | x |
| 2021-12-31 | CA$0.48 | CA$13.48 | x |
| 2022-12-31 | CA$0.42 | CA$13.48 | x |
| 2023-12-31 | CA$12.01 | CA$13.48 | x |
| 2024-12-31 | CA$14.02 | CA$13.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Source Energy Services 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): 5.01%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.41%
- • Asset Turnover: 1.13x
- • Equity Multiplier: 3.15x
- Recent ROE (5.01%) is above the historical average (-129.40%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 0.00% | 11.63% | 0.75x | 0.00x | CA$17.15 Million |
| 2015 | 0.00% | -6.38% | 0.66x | 0.00x | CA$-9.28 Million |
| 2016 | 0.00% | -31.18% | 0.63x | 0.00x | CA$-37.48 Million |
| 2017 | -3.01% | -2.94% | 0.62x | 1.66x | CA$-36.78 Million |
| 2018 | -0.72% | -0.53% | 0.80x | 1.70x | CA$-32.79 Million |
| 2019 | -44.56% | -27.02% | 0.67x | 2.46x | CA$-110.14 Million |
| 2020 | -567.40% | -74.22% | 0.94x | 8.15x | CA$-188.73 Million |
| 2021 | -859.85% | -17.54% | 1.20x | 40.76x | CA$-56.77 Million |
| 2022 | -51.78% | -0.70% | 1.27x | 57.79x | CA$-3.49 Million |
| 2023 | 98.94% | 29.37% | 1.18x | 2.85x | CA$150.43 Million |
| 2024 | 5.01% | 1.41% | 1.13x | 3.15x | CA$-9.48 Million |
Industry Comparison
This section compares Source Energy Services Ltd's net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.
Industry Context
- Industry: Oil & Gas Equipment & Services
- Average net assets among peers: $226,421,887
- Average return on equity (ROE) among peers: 16.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Source Energy Services Ltd (SHLE) | CA$210.34 Million | 0.00% | 1.84x | $128.08 Million |
| Bri-Chem Corp. (BRY) | $22.41 Million | 38.58% | 2.50x | $7.65 Million |
| CES Energy Solutions Corp (CEU) | $609.05 Million | 15.63% | 1.32x | $2.50 Billion |
| Calfrac Well Services Ltd. (CFW) | $74.79 Million | 12.08% | 1.22x | $465.47 Million |
| Enterprise Group Inc (E) | $81.60 Million | 7.02% | 1.02x | $74.63 Million |
| Enerflex Ltd. (EFX) | $886.68 Million | 8.09% | 0.57x | $2.31 Billion |
| HTC Purenergy Inc. (HTC) | $23.44 Million | 10.62% | 0.27x | $1.03 Million |
| High Arctic Energy Services Inc. (HWO) | $205.60 Million | -4.28% | 0.22x | $8.17 Million |
| Mattr Corp (MATR) | $322.10 Million | 21.61% | 0.73x | $555.42 Million |
| Mccoy Global Inc (MCB) | $8.74 Million | 11.49% | 0.87x | $44.78 Million |
| North American Construction Group Ltd (NOA) | $29.82 Million | 41.88% | 4.32x | $394.65 Million |
About Source Energy Services Ltd
Source Energy Services Ltd. together with its subsidiaries, engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; trucking operations; and develops Sahara, a wellsite mobile sand storage and handling syste… Read more