The Mercantile Investment Trust plc
The Mercantile Investment Trust plc is an open ended equity mutual fund launched and managed by JPMorgan Funds Limited. The fund is co-managed by JPMorgan Asset Management (UK) Limited. It invests in the public equity markets of the United Kingdoms. The fund spreads its investments across diversified sectors. It invests in the stocks of mid and small cap companies. The fund benchmarks the perform… Read more
The Mercantile Investment Trust plc (MRC) - Net Assets
Latest net assets as of July 2025: GBX1.97 Billion GBX
Based on the latest financial reports, The Mercantile Investment Trust plc (MRC) has net assets worth GBX1.97 Billion GBX as of July 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX2.31 Billion) and total liabilities (GBX337.43 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 | GBX1.97 Billion |
| % of Total Assets | 85.37% |
| Annual Growth Rate | 3.49% |
| 5-Year Change | -1.08% |
| 10-Year Change | 6.03% |
| Growth Volatility | 20.75 |
The Mercantile Investment Trust plc - Net Assets Trend (2004–2025)
This chart illustrates how The Mercantile Investment Trust plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for The Mercantile Investment Trust plc (2004–2025)
The table below shows the annual net assets of The Mercantile Investment Trust plc from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-01-31 | GBX1.97 Billion | +5.35% |
| 2024-01-31 | GBX1.87 Billion | 0.00% |
| 2023-01-31 | GBX1.87 Billion | -15.13% |
| 2022-01-31 | GBX2.20 Billion | +10.63% |
| 2021-01-31 | GBX1.99 Billion | -8.97% |
| 2020-01-31 | GBX2.18 Billion | +24.47% |
| 2019-01-31 | GBX1.75 Billion | -13.16% |
| 2018-01-31 | GBX2.02 Billion | +15.79% |
| 2017-01-31 | GBX1.74 Billion | -5.91% |
| 2016-01-31 | GBX1.85 Billion | +8.21% |
| 2015-01-31 | GBX1.71 Billion | +1.49% |
| 2014-01-31 | GBX1.69 Billion | +23.98% |
| 2013-01-31 | GBX1.36 Billion | +22.61% |
| 2012-01-31 | GBX1.11 Billion | -10.26% |
| 2011-01-31 | GBX1.24 Billion | +19.50% |
| 2010-01-31 | GBX1.04 Billion | +48.48% |
| 2009-01-31 | GBX697.30 Million | -42.28% |
| 2008-01-31 | GBX1.21 Billion | -30.72% |
| 2007-01-31 | GBX1.74 Billion | +20.68% |
| 2006-01-31 | GBX1.44 Billion | +26.25% |
| 2005-01-31 | GBX1.14 Billion | +19.78% |
| 2004-01-31 | GBX955.51 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to The Mercantile Investment Trust plc'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 8525300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (January 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX85.25 Million | 4.34% |
| Common Stock | GBX23.61 Million | 1.20% |
| Other Comprehensive Income | GBX1.83 Billion | 93.27% |
| Other Components | GBX23.46 Million | 1.19% |
| Total Equity | GBX1.97 Billion | 100.00% |
The Mercantile Investment Trust plc Competitors by Market Cap
The table below lists competitors of The Mercantile Investment Trust plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sancus Lending Group Ltd
LSE:LEND
|
$278.52 |
|
BANGKOK LAND -F-
MU:OLJ
|
$279.07 |
|
Digital Asset Monetary Network Inc
PINK:DATI
|
$279.13 |
|
GSPTD
PINK:GSPTD
|
$279.30 |
|
PINE TECH HLDGS - Dusseldorf Stock Exchang
DU:PNY
|
$278.09 |
|
Securities Trust of Scotland plc
LSE:STS
|
$277.74 |
|
DANNEX AYRTON STARWIN PLC
GSE:DASPHARMA
|
$277.08 |
|
Bunnys Limited
KAR:BNL
|
$277.00 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in The Mercantile Investment Trust plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,865,619,000 to 1,965,468,000, a change of 99,849,000 (5.4%).
- Net income of 241,378,000 contributed positively to equity growth.
- Dividend payments of 60,280,000 reduced retained earnings.
- Share repurchases of 81,569,000 reduced equity.
- Other comprehensive income increased equity by 1,819,986,000.
- Other factors decreased equity by 1,819,666,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX241.38 Million | +12.28% |
| Dividends Paid | GBX60.28 Million | -3.07% |
| Share Repurchases | GBX81.57 Million | -4.15% |
| Other Comprehensive Income | GBX1.82 Billion | +92.6% |
| Other Changes | GBX-1.82 Billion | -92.58% |
| Total Change | GBX- | 5.35% |
Book Value vs Market Value Analysis
This analysis compares The Mercantile Investment Trust plc'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: 98.68x
- 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 357.51x to 98.68x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-01-31 | GBX0.70 | GBX251.50 | x |
| 2005-01-31 | GBX0.84 | GBX251.50 | x |
| 2006-01-31 | GBX1.09 | GBX251.50 | x |
| 2007-01-31 | GBX1.37 | GBX251.50 | x |
| 2008-01-31 | GBX1.08 | GBX251.50 | x |
| 2009-01-31 | GBX0.68 | GBX251.50 | x |
| 2010-01-31 | GBX1.01 | GBX251.50 | x |
| 2011-01-31 | GBX1.24 | GBX251.50 | x |
| 2012-01-31 | GBX1.12 | GBX251.50 | x |
| 2013-01-31 | GBX1.38 | GBX251.50 | x |
| 2014-01-31 | GBX1.72 | GBX251.50 | x |
| 2015-01-31 | GBX1.74 | GBX251.50 | x |
| 2016-01-31 | GBX1.92 | GBX251.50 | x |
| 2017-01-31 | GBX1.88 | GBX251.50 | x |
| 2018-01-31 | GBX2.41 | GBX251.50 | x |
| 2019-01-31 | GBX2.19 | GBX251.50 | x |
| 2020-01-31 | GBX2.76 | GBX251.50 | x |
| 2021-01-31 | GBX2.51 | GBX251.50 | x |
| 2022-01-31 | GBX2.78 | GBX251.50 | x |
| 2023-01-31 | GBX2.36 | GBX251.50 | x |
| 2024-01-31 | GBX2.36 | GBX251.50 | x |
| 2025-01-31 | GBX2.55 | GBX251.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently The Mercantile Investment Trust plc 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): 12.28%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 98.88%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.17x
- Recent ROE (12.28%) is above the historical average (8.02%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 40.89% | 95.51% | 0.35x | 1.21x | GBX295.12 Million |
| 2005 | 18.03% | 91.32% | 0.17x | 1.15x | GBX91.89 Million |
| 2006 | 25.26% | 94.74% | 0.23x | 1.14x | GBX220.44 Million |
| 2007 | 23.12% | 95.26% | 0.22x | 1.11x | GBX228.80 Million |
| 2008 | -19.31% | 0.00% | -0.15x | 1.19x | GBX-354.05 Million |
| 2009 | -64.87% | 0.00% | -0.49x | 1.28x | GBX-522.10 Million |
| 2010 | 36.53% | 95.94% | 0.32x | 1.18x | GBX274.65 Million |
| 2011 | 21.41% | 94.14% | 0.20x | 1.16x | GBX141.23 Million |
| 2012 | -7.96% | 0.00% | -0.05x | 1.17x | GBX-199.39 Million |
| 2013 | 21.25% | 99.65% | 0.19x | 1.15x | GBX153.22 Million |
| 2014 | 21.95% | 99.68% | 0.20x | 1.11x | GBX201.70 Million |
| 2015 | 4.23% | 98.25% | 0.04x | 1.12x | GBX-98.91 Million |
| 2016 | 11.53% | 99.24% | 0.11x | 1.10x | GBX28.44 Million |
| 2017 | 4.68% | 98.12% | 0.04x | 1.11x | GBX-92.75 Million |
| 2018 | 20.46% | 99.65% | 0.19x | 1.09x | GBX211.20 Million |
| 2019 | -9.23% | 0.00% | -0.08x | 1.11x | GBX-337.23 Million |
| 2020 | 22.14% | 99.65% | 0.20x | 1.08x | GBX264.94 Million |
| 2021 | -7.23% | 0.00% | -0.06x | 1.14x | GBX-342.28 Million |
| 2022 | 12.02% | 180.62% | 0.06x | 1.15x | GBX44.42 Million |
| 2023 | -14.76% | 0.00% | -0.12x | 1.18x | GBX-461.91 Million |
| 2024 | 4.03% | 76.98% | 0.04x | 1.19x | GBX-111.35 Million |
| 2025 | 12.28% | 98.88% | 0.11x | 1.17x | GBX44.83 Million |
Industry Comparison
This section compares The Mercantile Investment Trust plc's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $395,694,700
- Average return on equity (ROE) among peers: -81.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| The Mercantile Investment Trust plc (MRC) | GBX1.97 Billion | 40.89% | 0.17x | $278.10 |
| 3I Infrastructure PLC (3IN) | $1.09 Billion | 8.57% | 0.18x | $396.99K |
| 450 PLC (450) | $1.30 Million | -791.13% | 5.03x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $431.48 Million | 11.10% | 0.09x | $315.37 |
| Abrdn Asia Focus PLC (AAS) | $464.40 Million | -2.37% | 0.15x | $434.78 |
| Albion Technology & General VCT PLC (AATG) | $34.46 Million | 4.41% | 0.01x | $78.71 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $492.42 Million | 0.00% | 0.32x | $16.61 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $2.45K |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $401.26 |
| AVI Global Trust PLC (AGT) | $938.94 Million | 2.59% | 0.12x | $2.83 Million |