Boston Pizza Royalties Income Fund
Boston Pizza Royalties Income Fund operates as an open-ended limited purpose trust company in Canada. The company acquires trademarks and trade names owned by Boston Pizza International Inc. It also operates and franchises restaurants under the Boston Pizza brand name. The company was incorporated in 2002 and is headquartered in Richmond, Canada. Boston Pizza Royalties Income Fund operates as a s… Read more
Boston Pizza Royalties Income Fund (BPZZF) - Net Assets
Latest net assets as of December 2025: $290.05 Million USD
Based on the latest financial reports, Boston Pizza Royalties Income Fund (BPZZF) has net assets worth $290.05 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($449.45 Million) and total liabilities ($159.41 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 | $290.05 Million |
| % of Total Assets | 64.53% |
| Annual Growth Rate | 5.66% |
| 5-Year Change | 5.17% |
| 10-Year Change | 10.19% |
| Growth Volatility | 22.23 |
Boston Pizza Royalties Income Fund - Net Assets Trend (2002–2025)
This chart illustrates how Boston Pizza Royalties Income Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Boston Pizza Royalties Income Fund (2002–2025)
The table below shows the annual net assets of Boston Pizza Royalties Income Fund from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $290.05 Million | +3.51% |
| 2024-12-31 | $280.22 Million | +0.48% |
| 2023-12-31 | $278.89 Million | -0.60% |
| 2022-12-31 | $280.58 Million | +1.73% |
| 2021-12-31 | $275.80 Million | +7.36% |
| 2020-12-31 | $256.90 Million | -3.09% |
| 2019-12-31 | $265.10 Million | -2.77% |
| 2018-12-31 | $272.67 Million | -7.80% |
| 2017-12-31 | $295.74 Million | +12.36% |
| 2016-12-31 | $263.21 Million | +2.81% |
| 2015-12-31 | $256.02 Million | +91.13% |
| 2014-12-31 | $133.95 Million | -4.64% |
| 2013-12-31 | $140.47 Million | -15.67% |
| 2012-12-31 | $166.58 Million | +5.00% |
| 2011-12-31 | $158.65 Million | -8.00% |
| 2010-12-31 | $172.44 Million | +9.36% |
| 2009-12-31 | $157.69 Million | +8.34% |
| 2008-12-31 | $145.55 Million | -0.86% |
| 2007-12-31 | $146.80 Million | +39.32% |
| 2006-12-31 | $105.37 Million | +21.53% |
| 2005-12-31 | $86.71 Million | -26.66% |
| 2004-12-31 | $118.23 Million | +19.10% |
| 2003-12-31 | $99.27 Million | +21.44% |
| 2002-12-31 | $81.74 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Boston Pizza Royalties Income Fund'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 42863.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $321.04 Million | 110.69% |
| Total Equity | $290.05 Million | 100.00% |
Boston Pizza Royalties Income Fund Competitors by Market Cap
The table below lists competitors of Boston Pizza Royalties Income Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Alpha HPA Limited
F:3AU
|
$249.91 Million |
|
Heilongjiang Transport Development Co Ltd
SHG:601188
|
$249.94 Million |
|
Simei Media Co Ltd
SHE:002712
|
$249.94 Million |
|
Sri Trang Gloves (Thailand) Public Company Limited
BK:STGT
|
$249.95 Million |
|
Holley Inc
NYSE:HLLY
|
$249.84 Million |
|
Borussia Dortmund GmbH & Co. Kommanditgesellschaft auf Aktien
PINK:BORUF
|
$249.84 Million |
|
X Financial Class A
NYSE:XYF
|
$249.80 Million |
|
Jiangsu Hongdou Industrial Co Ltd
SHG:600400
|
$249.75 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Boston Pizza Royalties Income Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 280,223,000 to 290,046,000, a change of 9,823,000 (3.5%).
- Net income of 42,166,000 contributed positively to equity growth.
- Dividend payments of 32,237,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $42.17 Million | +14.54% |
| Dividends Paid | $32.24 Million | -11.11% |
| Other Changes | $-106.00K | -0.04% |
| Total Change | $- | 3.51% |
Book Value vs Market Value Analysis
This analysis compares Boston Pizza Royalties Income Fund'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: 0.86x
- 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 |
|---|---|---|---|
| 2015-12-31 | $0.00 | $11.75 | x |
| 2016-12-31 | $0.00 | $11.75 | x |
| 2017-12-31 | $0.00 | $11.75 | x |
| 2018-12-31 | $0.00 | $11.75 | x |
| 2020-12-31 | $11.94 | $11.75 | x |
| 2021-12-31 | $12.82 | $11.75 | x |
| 2022-12-31 | $13.04 | $11.75 | x |
| 2023-12-31 | $13.11 | $11.75 | x |
| 2024-12-31 | $13.17 | $11.75 | x |
| 2025-12-31 | $13.63 | $11.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Boston Pizza Royalties Income Fund 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): 14.54%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 81.27%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 1.55x
- Recent ROE (14.54%) is above the historical average (9.87%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 10.99% | 71.37% | 0.08x | 1.86x | $568.00K |
| 2004 | 10.54% | 94.45% | 0.09x | 1.29x | $532.42K |
| 2005 | 11.34% | 0.00% | 0.00x | 1.01x | $1.16 Million |
| 2006 | 11.42% | 0.00% | 0.00x | 1.01x | $1.50 Million |
| 2007 | 9.67% | 0.00% | 0.00x | 1.03x | $-482.39K |
| 2008 | 11.14% | 0.00% | 0.00x | 1.03x | $1.66 Million |
| 2009 | 11.54% | 0.00% | 0.00x | 1.03x | $2.43 Million |
| 2010 | 11.78% | 0.00% | 0.00x | 1.03x | $3.06 Million |
| 2011 | 9.63% | 55.71% | 0.11x | 1.62x | $-581.25K |
| 2012 | 1.24% | 6.99% | 0.11x | 1.60x | $-14.60 Million |
| 2013 | 9.93% | 49.02% | 0.11x | 1.80x | $-102.51K |
| 2014 | 10.57% | 52.60% | 0.11x | 1.79x | $762.58K |
| 2015 | 7.48% | 47.02% | 0.10x | 1.61x | $-6.45 Million |
| 2016 | 14.35% | 86.13% | 0.10x | 1.69x | $11.44 Million |
| 2017 | 9.13% | 60.41% | 0.10x | 1.47x | $-2.58 Million |
| 2018 | 3.18% | 19.01% | 0.11x | 1.48x | $-18.60 Million |
| 2019 | 8.49% | 49.57% | 0.11x | 1.50x | $-4.01 Million |
| 2020 | 3.73% | 29.32% | 0.08x | 1.52x | $-16.12 Million |
| 2021 | 13.56% | 106.41% | 0.09x | 1.49x | $9.83 Million |
| 2022 | 10.90% | 67.26% | 0.11x | 1.47x | $2.53 Million |
| 2023 | 10.60% | 60.10% | 0.12x | 1.48x | $1.68 Million |
| 2024 | 11.37% | 64.38% | 0.12x | 1.51x | $3.85 Million |
| 2025 | 14.54% | 81.27% | 0.12x | 1.55x | $13.16 Million |
Industry Comparison
This section compares Boston Pizza Royalties Income Fund's net assets metrics with peer companies in the Restaurants industry.
Industry Context
- Industry: Restaurants
- Average net assets among peers: $1,100,683,888
- Average return on equity (ROE) among peers: -9.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Boston Pizza Royalties Income Fund (BPZZF) | $290.05 Million | 10.99% | 0.55x | $249.85 Million |
| Alsea S.A.B. de C.V (ALSSF) | $9.60 Billion | 31.08% | 7.07x | $902.51 Million |
| Arcos Dorados Holdings Inc (ARCO) | $695.30 Million | 7.75% | 2.14x | $952.86 Million |
| AmRest Holdings SE (ARHOF) | $264.70 Million | -68.76% | 6.99x | $477.90 Million |
| Ark Restaurants Corp (ARKR) | $7.80 Million | -3.85% | 0.72x | $10.36 Million |
| Big Buck Brewery & Steakhouse Inc (BBUCQ) | $5.62 Million | -39.20% | 3.43x | $1.94 |
| Flanigans Enterprises Inc (BDL) | $7.67 Million | 17.79% | 0.46x | $18.25 Million |
| Bagger Dave's Burger Tavern Inc (BDVB) | $2.41 Million | -143.08% | 1.53x | $654.12K |
| BurgerFi International, Inc. (BFICQ) | $78.95 Million | -131.01% | 2.51x | $1.57K |
| Biglari Holdings Inc (BH-A) | $1.80 Million | 233.33% | 36.28x | $310.04 Million |
| BJs Restaurants Inc (BJRI) | $345.51 Million | 1.18% | 2.51x | $663.68 Million |