Rand Capital Corp
Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses. It does not prefer to invest in real estate sector. It p… Read more
Rand Capital Corp (RAND) - Net Assets
Latest net assets as of September 2025: $53.62 Million USD
Based on the latest financial reports, Rand Capital Corp (RAND) has net assets worth $53.62 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 ($54.58 Million) and total liabilities ($958.27K). 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 | $53.62 Million |
| % of Total Assets | 98.24% |
| Annual Growth Rate | 5.42% |
| 5-Year Change | 41.7% |
| 10-Year Change | 92.99% |
| Growth Volatility | 25.69 |
Rand Capital Corp - Net Assets Trend (1994–2024)
This chart illustrates how Rand Capital Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Rand Capital Corp (1994–2024)
The table below shows the annual net assets of Rand Capital Corp from 1994 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $65.33 Million | +7.43% |
| 2023-12-31 | $60.82 Million | +5.36% |
| 2022-12-31 | $57.72 Million | -12.00% |
| 2021-12-31 | $65.59 Million | +42.27% |
| 2020-12-31 | $46.10 Million | -14.03% |
| 2019-12-31 | $53.63 Million | +70.12% |
| 2018-12-31 | $31.52 Million | -1.24% |
| 2017-12-31 | $31.92 Million | -2.18% |
| 2016-12-31 | $32.63 Million | -3.62% |
| 2015-12-31 | $33.85 Million | +4.64% |
| 2014-12-31 | $32.35 Million | +15.26% |
| 2013-12-31 | $28.07 Million | +8.87% |
| 2012-12-31 | $25.78 Million | +5.67% |
| 2011-12-31 | $24.40 Million | +5.85% |
| 2010-12-31 | $23.05 Million | -0.67% |
| 2009-12-31 | $23.21 Million | +14.73% |
| 2008-12-31 | $20.23 Million | +2.06% |
| 2007-12-31 | $19.82 Million | +18.09% |
| 2006-12-31 | $16.78 Million | +94.69% |
| 2005-12-31 | $8.62 Million | -4.54% |
| 2004-12-31 | $9.03 Million | -2.27% |
| 2003-12-31 | $9.24 Million | -3.75% |
| 2002-12-31 | $9.60 Million | -4.57% |
| 2001-12-31 | $10.06 Million | +19.90% |
| 2000-12-31 | $8.39 Million | +10.25% |
| 1999-12-31 | $7.61 Million | -7.65% |
| 1998-12-31 | $8.24 Million | -1.20% |
| 1997-12-31 | $8.34 Million | +29.10% |
| 1996-12-31 | $6.46 Million | -51.79% |
| 1994-12-31 | $13.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Rand Capital Corp'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 254238200.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.54 Million | 3.89% |
| Common Stock | $264.89K | 0.41% |
| Other Components | $62.53 Million | 95.70% |
| Total Equity | $65.33 Million | 100.00% |
Rand Capital Corp Competitors by Market Cap
The table below lists competitors of Rand Capital Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Athanase Innovation AB
ST:ATIN
|
$6.52 Million |
|
Patagonia Gold Corp
PINK:HGLD
|
$6.52 Million |
|
Americore Resources Corp.
V:AMCO
|
$6.53 Million |
|
Ras Technology Holdings Ltd
AU:RTH
|
$6.53 Million |
|
Viveon Health Acquisition Corp
NYSE MKT:VHAQ
|
$6.52 Million |
|
Nexalin Technology Inc.
NASDAQ:NXL
|
$6.52 Million |
|
Chibougamau Independent Mines Inc
PINK:CMAUF
|
$6.52 Million |
|
Landmarks Bhd
KLSE:1643
|
$6.51 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Rand Capital Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 60,815,213 to 65,332,520, a change of 4,517,307 (7.4%).
- Net income of 8,827,612 contributed positively to equity growth.
- Dividend payments of 2,142,247 reduced retained earnings.
- Other factors decreased equity by 2,168,058.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $8.83 Million | +13.51% |
| Dividends Paid | $2.14 Million | -3.28% |
| Other Changes | $-2.17 Million | -3.32% |
| Total Change | $- | 7.43% |
Book Value vs Market Value Analysis
This analysis compares Rand Capital Corp'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: 0.43x
- 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 decreased from 0.54x to 0.43x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $20.10 | $10.83 | x |
| 1996-12-31 | $1.53 | $10.83 | x |
| 1997-12-31 | $1.46 | $10.83 | x |
| 1998-12-31 | $1.44 | $10.83 | x |
| 1999-12-31 | $1.33 | $10.83 | x |
| 2000-12-31 | $1.47 | $10.83 | x |
| 2001-12-31 | $1.75 | $10.83 | x |
| 2002-12-31 | $1.67 | $10.83 | x |
| 2003-12-31 | $1.62 | $10.83 | x |
| 2004-12-31 | $1.58 | $10.83 | x |
| 2005-12-31 | $1.51 | $10.83 | x |
| 2006-12-31 | $2.93 | $10.83 | x |
| 2007-12-31 | $3.46 | $10.83 | x |
| 2008-12-31 | $31.83 | $10.83 | x |
| 2009-12-31 | $34.15 | $10.83 | x |
| 2010-12-31 | $30.42 | $10.83 | x |
| 2011-12-31 | $32.20 | $10.83 | x |
| 2012-12-31 | $34.27 | $10.83 | x |
| 2013-12-31 | $38.79 | $10.83 | x |
| 2014-12-31 | $45.56 | $10.83 | x |
| 2015-12-31 | $48.14 | $10.83 | x |
| 2016-12-31 | $46.42 | $10.83 | x |
| 2017-12-31 | $45.44 | $10.83 | x |
| 2018-12-31 | $44.88 | $10.83 | x |
| 2019-12-31 | $64.08 | $10.83 | x |
| 2020-12-31 | $20.33 | $10.83 | x |
| 2021-12-31 | $23.53 | $10.83 | x |
| 2022-12-31 | $22.36 | $10.83 | x |
| 2023-12-31 | $23.56 | $10.83 | x |
| 2024-12-31 | $25.31 | $10.83 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Rand Capital Corp 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): 13.51%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 78.68%
- • Asset Turnover: 0.15x
- • Equity Multiplier: 1.11x
- Recent ROE (13.51%) is above the historical average (3.00%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | -2.99% | -133.33% | 0.02x | 1.22x | $-1.74 Million |
| 1996 | -44.43% | -1688.24% | 0.03x | 1.02x | $-3.52 Million |
| 1997 | -4.08% | -73.91% | 0.05x | 1.01x | $-1.17 Million |
| 1998 | -1.21% | -16.95% | 0.07x | 1.01x | $-924.00K |
| 1999 | -8.28% | -175.00% | 0.05x | 1.01x | $-1.39 Million |
| 2000 | 8.58% | 300.00% | 0.03x | 1.01x | $-119.00K |
| 2001 | 16.30% | 1025.00% | 0.02x | 1.02x | $634.00K |
| 2002 | -4.48% | -165.38% | 0.03x | 1.01x | $-1.39 Million |
| 2003 | -3.68% | -75.56% | 0.05x | 1.02x | $-1.26 Million |
| 2004 | -2.33% | -27.63% | 0.06x | 1.41x | $-1.11 Million |
| 2005 | -4.76% | -55.41% | 0.05x | 1.86x | $-1.27 Million |
| 2006 | 48.66% | 55.40% | 0.50x | 1.76x | $6.49 Million |
| 2007 | 13.72% | 47.24% | 0.18x | 1.65x | $737.37K |
| 2008 | 2.02% | 17.34% | 0.07x | 1.59x | $-1.61 Million |
| 2009 | -3.19% | -42.26% | 0.05x | 1.54x | $-3.06 Million |
| 2010 | -0.67% | 0.00% | -0.01x | 1.52x | $-2.46 Million |
| 2011 | 5.53% | 30.31% | 0.14x | 1.28x | $-1.09 Million |
| 2012 | 7.52% | 50.80% | 0.11x | 1.33x | $-638.46K |
| 2013 | 10.24% | 95.01% | 0.08x | 1.42x | $66.42K |
| 2014 | 14.04% | 75.02% | 0.13x | 1.41x | $1.31 Million |
| 2015 | 4.43% | 37.47% | 0.09x | 1.32x | $-1.89 Million |
| 2016 | -3.69% | 0.00% | -0.12x | 1.30x | $-4.47 Million |
| 2017 | -2.23% | -56.55% | 0.03x | 1.26x | $-3.90 Million |
| 2018 | -1.25% | -22.32% | 0.04x | 1.29x | $-3.55 Million |
| 2019 | -4.27% | 0.00% | -0.01x | 1.21x | $-7.65 Million |
| 2020 | 1.61% | 21.51% | 0.06x | 1.32x | $-3.87 Million |
| 2021 | 26.01% | 91.80% | 0.26x | 1.08x | $9.72 Million |
| 2022 | -1.53% | -129.22% | 0.01x | 1.10x | $-6.65 Million |
| 2023 | 10.73% | 71.41% | 0.11x | 1.33x | $445.13K |
| 2024 | 13.51% | 78.68% | 0.15x | 1.11x | $2.29 Million |
Industry Comparison
This section compares Rand Capital Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $310,488,743
- Average return on equity (ROE) among peers: -23.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Rand Capital Corp (RAND) | $53.62 Million | -2.99% | 0.02x | $6.52 Million |
| Aberdeen International Inc (AABVF) | $136.31 Million | 25.56% | 0.23x | $2.78 Million |
| Acadian Asset Management Inc (AAMI) | $-17.60 Million | 0.00% | 0.00x | $1.39 Billion |
| AllianceBernstein Holding L.P. (AB) | $402.30 Million | 32.07% | 0.95x | $3.43 Billion |
| VIVO Cannabis Inc (ABCCF) | $164.13 Million | 16.36% | 0.09x | $148.26 Million |
| Associated Capital Group Inc (AC) | $502.13 Million | 5.33% | 0.17x | $42.54 Million |
| Adrian Resources Ltd (ADLRF) | $605.01 Million | 3.35% | 0.58x | $609.82 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $85.10 Million | -65.65% | 0.01x | $77.20K |
| AGF Management Limited (AGFMF) | $1.12 Billion | 10.14% | 3.56x | $298.43 Million |
| Agronomics Limited (AGNMF) | $100.03 Million | 1.02% | 0.02x | $57.14 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $2.71 Million |