Caledonia Mining Corporation (CMCL) - Net Assets
Based on the latest financial reports, Caledonia Mining Corporation (CMCL) has net assets worth $283.55 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($411.89 Million) and total liabilities ($128.35 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. Check CMCL asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $283.55 Million |
| % of Total Assets | 68.84% |
| Annual Growth Rate | 10.23% |
| 5-Year Change | 85.98% |
| 10-Year Change | 378.02% |
| Growth Volatility | 56.54 |
Caledonia Mining Corporation - Net Assets Trend (1989–2025)
This chart illustrates how Caledonia Mining Corporation's net assets have evolved over time, based on quarterly financial data. Also explore how large is Caledonia Mining Corporation's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for Caledonia Mining Corporation (1989–2025)
The table below shows the annual net assets of Caledonia Mining Corporation from 1989 to 2025. For live valuation and market cap data, see CMCL market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $283.55 Million | +20.93% |
| 2024-12-31 | $234.46 Million | +4.58% |
| 2023-12-31 | $224.20 Million | +42.18% |
| 2022-12-31 | $157.69 Million | +3.43% |
| 2021-12-31 | $152.46 Million | -3.53% |
| 2020-12-31 | $158.04 Million | +26.72% |
| 2019-12-31 | $124.72 Million | +58.25% |
| 2018-12-31 | $78.81 Million | +13.87% |
| 2017-12-31 | $69.21 Million | +16.68% |
| 2016-12-31 | $59.32 Million | +17.78% |
| 2015-12-31 | $50.36 Million | -0.12% |
| 2014-12-31 | $50.42 Million | +3.30% |
| 2013-12-31 | $48.81 Million | -12.69% |
| 2012-12-31 | $55.91 Million | +42.66% |
| 2011-12-31 | $39.19 Million | +108.03% |
| 2010-12-31 | $18.84 Million | +17.83% |
| 2009-12-31 | $15.99 Million | -8.20% |
| 2008-12-31 | $17.42 Million | -28.42% |
| 2007-12-31 | $24.33 Million | +16.54% |
| 2006-12-31 | $20.88 Million | +25.17% |
| 2005-12-31 | $16.68 Million | -9.60% |
| 2004-12-31 | $18.45 Million | +33.54% |
| 2003-12-31 | $13.82 Million | -5.11% |
| 2002-12-31 | $14.56 Million | +9.11% |
| 2001-12-31 | $13.35 Million | -6.84% |
| 2000-12-31 | $14.33 Million | +188.17% |
| 1999-12-31 | $4.97 Million | -24.26% |
| 1998-12-31 | $6.56 Million | -83.72% |
| 1997-12-31 | $40.32 Million | -52.24% |
| 1996-12-31 | $84.43 Million | +25.08% |
| 1995-12-31 | $67.50 Million | +75.87% |
| 1994-12-31 | $38.38 Million | +231.64% |
| 1993-12-31 | $11.57 Million | -9.31% |
| 1992-12-31 | $12.76 Million | +45.16% |
| 1991-12-31 | $8.79 Million | -3.25% |
| 1990-12-31 | $9.09 Million | +6.76% |
| 1989-12-31 | $8.51 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Caledonia Mining Corporation'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 4037906961.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $166.33 Million | 64.22% |
| Other Comprehensive Income | $138.25 Million | 53.38% |
| Total Equity | $259.00 Million | 100.00% |
Caledonia Mining Corporation Competitors by Market Cap
The table below lists competitors of Caledonia Mining Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Holtek Semiconductor Inc
TW:6202
|
$440.61 Million |
|
V.S.T Tillers Tractors Limited
NSE:VSTTILLERS
|
$440.87 Million |
|
Shanghai Model Organisms Center Inc
SHG:688265
|
$441.05 Million |
|
Surya Semesta Internusa Tbk
JK:SSIA
|
$441.13 Million |
|
PDS Limited
NSE:PDSL
|
$440.22 Million |
|
Is Gayrimenkul Yatirim Ortakligi AS
IS:ISGYO
|
$440.21 Million |
|
Anzheng Fashion
SHG:603839
|
$440.05 Million |
|
Canopy Growth Corp
NASDAQ:CGC
|
$439.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Caledonia Mining Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 213,877,000 to 258,997,000, a change of 45,120,000 (21.1%).
- Net income of 55,219,000 contributed positively to equity growth.
- Dividend payments of 19,916,000 reduced retained earnings.
- Other comprehensive income increased equity by 148,779,000.
- Other factors decreased equity by 138,962,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $55.22 Million | +21.32% |
| Dividends Paid | $19.92 Million | -7.69% |
| Other Comprehensive Income | $148.78 Million | +57.44% |
| Other Changes | $-138.96 Million | -53.65% |
| Total Change | $- | 21.10% |
Book Value vs Market Value Analysis
This analysis compares Caledonia Mining Corporation'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: 1.72x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.36x to 1.72x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-12-31 | $63.83 | $22.80 | x |
| 1990-12-31 | $70.99 | $22.80 | x |
| 1991-12-31 | $76.92 | $22.80 | x |
| 1992-12-31 | $63.80 | $22.80 | x |
| 1993-12-31 | $48.22 | $22.80 | x |
| 1994-12-31 | $119.93 | $22.80 | x |
| 1995-12-31 | $108.99 | $22.80 | x |
| 1996-12-31 | $132.04 | $22.80 | x |
| 1997-12-31 | $60.70 | $22.80 | x |
| 1998-12-31 | $7.92 | $22.80 | x |
| 1999-12-31 | $3.48 | $22.80 | x |
| 2000-12-31 | $4.66 | $22.80 | x |
| 2001-12-31 | $3.89 | $22.80 | x |
| 2002-12-31 | $3.44 | $22.80 | x |
| 2003-12-31 | $2.74 | $22.80 | x |
| 2004-12-31 | $2.77 | $22.80 | x |
| 2005-12-31 | $2.58 | $22.80 | x |
| 2006-12-31 | $1.91 | $22.80 | x |
| 2007-12-31 | $2.37 | $22.80 | x |
| 2008-12-31 | $1.75 | $22.80 | x |
| 2009-12-31 | $1.60 | $22.80 | x |
| 2010-12-31 | $1.87 | $22.80 | x |
| 2011-12-31 | $3.84 | $22.80 | x |
| 2012-12-31 | $5.68 | $22.80 | x |
| 2013-12-31 | $4.70 | $22.80 | x |
| 2014-12-31 | $4.77 | $22.80 | x |
| 2015-12-31 | $4.68 | $22.80 | x |
| 2016-12-31 | $5.31 | $22.80 | x |
| 2017-12-31 | $5.96 | $22.80 | x |
| 2018-12-31 | $6.65 | $22.80 | x |
| 2019-12-31 | $10.09 | $22.80 | x |
| 2020-12-31 | $12.08 | $22.80 | x |
| 2021-12-31 | $11.30 | $22.80 | x |
| 2022-12-31 | $10.96 | $22.80 | x |
| 2023-12-31 | $11.04 | $22.80 | x |
| 2024-12-31 | $11.14 | $22.80 | x |
| 2025-12-31 | $13.27 | $22.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Caledonia Mining Corporation 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): 21.32%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.73%
- • Asset Turnover: 0.62x
- • Equity Multiplier: 1.59x
- Recent ROE (21.32%) is above the historical average (-23.60%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | -2.35% | -66.67% | 0.03x | 1.01x | $-1.05 Million |
| 1991 | -4.55% | -80.00% | 0.05x | 1.03x | $-1.28 Million |
| 1992 | -2.36% | -23.08% | 0.09x | 1.09x | $-1.58 Million |
| 1993 | -10.34% | -200.00% | 0.05x | 1.06x | $-2.35 Million |
| 1994 | 0.26% | 1.00% | 0.12x | 2.11x | $-3.74 Million |
| 1995 | -9.17% | -27.91% | 0.24x | 1.39x | $-12.54 Million |
| 1996 | -3.32% | -31.40% | 0.08x | 1.36x | $-11.14 Million |
| 1997 | -102.47% | -523.42% | 0.11x | 1.71x | $-44.56 Million |
| 1998 | -553.85% | -325.16% | 0.31x | 5.58x | $-33.35 Million |
| 1999 | -119.05% | -51.02% | 0.44x | 5.27x | $-5.61 Million |
| 2000 | 35.82% | 110.10% | 0.27x | 1.21x | $3.56 Million |
| 2001 | -5.84% | -963.71% | 0.00x | 1.22x | $-2.04 Million |
| 2002 | -19.55% | -16041.09% | 0.00x | 1.12x | $-4.16 Million |
| 2003 | -84.72% | -2253.25% | 0.03x | 1.13x | $-12.55 Million |
| 2004 | -44.99% | -1186.56% | 0.04x | 1.07x | $-10.15 Million |
| 2005 | -49.97% | -366.39% | 0.12x | 1.15x | $-10.00 Million |
| 2006 | -22.50% | -40.30% | 0.43x | 1.29x | $-6.79 Million |
| 2007 | -19.15% | -45.97% | 0.34x | 1.22x | $-7.09 Million |
| 2008 | -23.31% | -64.19% | 0.33x | 1.10x | $-5.80 Million |
| 2009 | -23.59% | -34.17% | 0.52x | 1.32x | $-5.37 Million |
| 2010 | 11.98% | 10.08% | 0.81x | 1.46x | $372.74K |
| 2011 | 30.31% | 21.78% | 1.06x | 1.31x | $7.96 Million |
| 2012 | 15.19% | 11.59% | 1.05x | 1.25x | $2.99 Million |
| 2013 | -5.87% | -4.69% | 0.94x | 1.34x | $-7.76 Million |
| 2014 | 8.48% | 8.29% | 0.76x | 1.34x | $-754.70K |
| 2015 | 9.78% | 9.76% | 0.67x | 1.49x | $-106.70K |
| 2016 | 15.33% | 13.75% | 0.68x | 1.63x | $2.97 Million |
| 2017 | 14.83% | 13.45% | 0.63x | 1.74x | $3.06 Million |
| 2018 | 15.28% | 15.74% | 0.54x | 1.78x | $3.72 Million |
| 2019 | 38.76% | 55.41% | 0.53x | 1.32x | $31.18 Million |
| 2020 | 14.68% | 20.78% | 0.56x | 1.26x | $6.63 Million |
| 2021 | 12.64% | 14.34% | 0.58x | 1.53x | $3.63 Million |
| 2022 | 7.99% | 7.91% | 0.60x | 1.67x | $-2.84 Million |
| 2023 | -3.82% | -5.37% | 0.45x | 1.60x | $-28.44 Million |
| 2024 | 8.37% | 9.78% | 0.53x | 1.63x | $-3.49 Million |
| 2025 | 21.32% | 21.73% | 0.62x | 1.59x | $29.32 Million |
Industry Comparison
This section compares Caledonia Mining Corporation's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $120,285,432
- Average return on equity (ROE) among peers: -38.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Caledonia Mining Corporation (CMCL) | $283.55 Million | -2.35% | 0.45x | $440.34 Million |
| Allied Gold Corporation (AAUC) | $381.03 Million | -54.71% | 1.51x | $1.61 Billion |
| Aura Minerals Inc. Common Shares (AUGO) | $265.74 Million | -29.86% | 5.05x | $6.08 Billion |
| Austin Gold Corp (AUST) | $14.78 Million | -7.23% | 0.01x | $17.66 Million |
| Barrick Mining Corporation (B) | $126.40 Million | 13.29% | 1.71x | $68.16 Billion |
| Blue Gold Limited Class A Ordinary Shares (BGL) | $1.33 Million | 52.84% | 2.03x | $33.46 Million |
| Coeur Mining Inc (CDE) | $166.00 Million | -1.02% | 0.44x | $18.24 Billion |
| Collective Mining Ltd. (CNL) | $12.72 Million | -150.39% | 0.33x | $1.45 Billion |
| Contango ORE Inc (CTGO) | $731.00K | -150.89% | 0.70x | $346.52 Million |
| Dakota Gold Corp. (DC) | $113.83 Million | -22.56% | 0.05x | $698.29 Million |
About Caledonia Mining Corporation
Caledonia Mining Corporation Plc primarily operates a gold mine in Jersey. It also engages in the exploration and development of mineral properties for precious metals. The company was formerly known as Caledonia Mining Corporation and changed its name to Caledonia Mining Corporation Plc in March 2016. The company was incorporated in 1992 and is headquartered in Saint Helier, Jersey.