Riocan REIT
RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail and mixed-use properties in densely populated communities. As at September 30, 2025, our portfolio is comprised of 173 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan's interest).
Riocan REIT (RIOCF) - Net Assets
Latest net assets as of September 2025: $7.14 Billion USD
Based on the latest financial reports, Riocan REIT (RIOCF) has net assets worth $7.14 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($14.98 Billion) and total liabilities ($7.85 Billion). 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 | $7.14 Billion |
| % of Total Assets | 47.62% |
| Annual Growth Rate | 16.75% |
| 5-Year Change | -2.28% |
| 10-Year Change | -4.65% |
| Growth Volatility | 34.36 |
Riocan REIT - Net Assets Trend (1994–2024)
This chart illustrates how Riocan REIT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Riocan REIT (1994–2024)
The table below shows the annual net assets of Riocan REIT from 1994 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $7.56 Billion | +1.62% |
| 2023-12-31 | $7.44 Billion | -3.77% |
| 2022-12-31 | $7.73 Billion | -2.31% |
| 2021-12-31 | $7.91 Billion | +2.28% |
| 2020-12-31 | $7.73 Billion | -6.87% |
| 2019-12-31 | $8.31 Billion | +8.33% |
| 2018-12-31 | $7.67 Billion | -4.70% |
| 2017-12-31 | $8.04 Billion | +0.43% |
| 2016-12-31 | $8.01 Billion | +1.05% |
| 2015-12-31 | $7.93 Billion | +0.74% |
| 2014-12-31 | $7.87 Billion | +8.21% |
| 2013-12-31 | $7.27 Billion | +5.70% |
| 2012-12-31 | $6.88 Billion | +33.36% |
| 2011-12-31 | $5.16 Billion | +22.14% |
| 2010-12-31 | $4.22 Billion | +126.37% |
| 2009-12-31 | $1.87 Billion | +6.53% |
| 2008-12-31 | $1.75 Billion | +4.40% |
| 2007-12-31 | $1.68 Billion | +1.43% |
| 2006-12-31 | $1.65 Billion | -1.29% |
| 2005-12-31 | $1.68 Billion | +5.70% |
| 2004-12-31 | $1.59 Billion | +0.28% |
| 2003-12-31 | $1.58 Billion | +12.81% |
| 2002-12-31 | $1.40 Billion | +10.56% |
| 2001-12-31 | $1.27 Billion | +9.21% |
| 2000-12-31 | $1.16 Billion | +14.96% |
| 1999-12-31 | $1.01 Billion | +75.38% |
| 1998-12-31 | $575.60 Million | +38.07% |
| 1997-12-31 | $416.90 Million | +111.09% |
| 1996-12-31 | $197.50 Million | +90.45% |
| 1995-12-31 | $103.70 Million | +43.03% |
| 1994-12-31 | $72.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Riocan REIT'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 291110600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.91 Billion | 38.52% |
| Common Stock | $4.56 Billion | 60.34% |
| Other Comprehensive Income | $29.36 Million | 0.39% |
| Other Components | $57.51 Million | 0.76% |
| Total Equity | $7.56 Billion | 100.00% |
Riocan REIT Competitors by Market Cap
The table below lists competitors of Riocan REIT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sime Darby Plantation Berhad
OTCGREY:SDPNF
|
$3.42 Billion |
|
Getinge Industrier AB
PINK:GNGBY
|
$3.42 Billion |
|
Methanex Corporation
NASDAQ:MEOH
|
$3.42 Billion |
|
Universal Scientific Industrial Shanghai Co Ltd
SHG:601231
|
$3.42 Billion |
|
Group 1 Automotive Inc
NYSE:GPI
|
$3.41 Billion |
|
Allreal Holding
SW:ALLN
|
$3.41 Billion |
|
Northland Power Inc.
PINK:NPIFF
|
$3.41 Billion |
|
ALLEGRO MICROSYS. DL-01
F:6V5
|
$3.41 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Riocan REIT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 7,437,770,000 to 7,558,338,000, a change of 120,568,000 (1.6%).
- Net income of 473,465,000 contributed positively to equity growth.
- Dividend payments of 332,011,000 reduced retained earnings.
- Share repurchases of 11,706,000 reduced equity.
- Other comprehensive income decreased equity by 21,890,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $473.46 Million | +6.26% |
| Dividends Paid | $332.01 Million | -4.39% |
| Share Repurchases | $11.71 Million | -0.15% |
| Other Comprehensive Income | $-21.89 Million | -0.29% |
| Other Changes | $12.71 Million | +0.17% |
| Total Change | $- | 1.62% |
Book Value vs Market Value Analysis
This analysis compares Riocan REIT'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: 0.46x
- 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 1.61x to 0.46x 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 | $7.23 | $11.65 | x |
| 1995-12-31 | $9.85 | $11.65 | x |
| 1996-12-31 | $7.67 | $11.65 | x |
| 1997-12-31 | $6.64 | $11.65 | x |
| 1998-12-31 | $8.34 | $11.65 | x |
| 1999-12-31 | $9.73 | $11.65 | x |
| 2000-12-31 | $8.85 | $11.65 | x |
| 2001-12-31 | $8.44 | $11.65 | x |
| 2002-12-31 | $8.71 | $11.65 | x |
| 2003-12-31 | $9.27 | $11.65 | x |
| 2004-12-31 | $8.71 | $11.65 | x |
| 2005-12-31 | $8.64 | $11.65 | x |
| 2006-12-31 | $8.35 | $11.65 | x |
| 2007-12-31 | $8.05 | $11.65 | x |
| 2008-12-31 | $8.03 | $11.65 | x |
| 2009-12-31 | $8.06 | $11.65 | x |
| 2010-12-31 | $16.84 | $11.65 | x |
| 2011-12-31 | $20.08 | $11.65 | x |
| 2012-12-31 | $23.51 | $11.65 | x |
| 2013-12-31 | $23.94 | $11.65 | x |
| 2014-12-31 | $25.49 | $11.65 | x |
| 2015-12-31 | $24.77 | $11.65 | x |
| 2016-12-31 | $24.60 | $11.65 | x |
| 2017-12-31 | $24.61 | $11.65 | x |
| 2018-12-31 | $24.41 | $11.65 | x |
| 2019-12-31 | $26.98 | $11.65 | x |
| 2020-12-31 | $24.34 | $11.65 | x |
| 2021-12-31 | $24.93 | $11.65 | x |
| 2022-12-31 | $25.24 | $11.65 | x |
| 2023-12-31 | $24.75 | $11.65 | x |
| 2024-12-31 | $25.16 | $11.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Riocan REIT 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): 6.26%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 38.20%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 2.05x
- Recent ROE (6.26%) is below the historical average (8.76%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | -2.34% | -10.69% | 0.12x | 1.80x | $-8.95 Million |
| 1995 | 1.35% | 5.83% | 0.12x | 1.91x | $-8.97 Million |
| 1996 | 7.70% | 35.27% | 0.12x | 1.86x | $-4.55 Million |
| 1997 | 8.73% | 38.32% | 0.12x | 1.91x | $-5.29 Million |
| 1998 | 10.08% | 35.91% | 0.14x | 2.00x | $440.00K |
| 1999 | 10.17% | 39.38% | 0.12x | 2.14x | $1.75 Million |
| 2000 | 10.50% | 36.16% | 0.14x | 2.08x | $5.76 Million |
| 2001 | 13.15% | 40.23% | 0.15x | 2.23x | $38.22 Million |
| 2002 | 12.77% | 36.53% | 0.14x | 2.44x | $37.36 Million |
| 2003 | 11.54% | 34.27% | 0.14x | 2.40x | $24.34 Million |
| 2004 | 9.99% | 27.22% | 0.15x | 2.50x | $-195.80K |
| 2005 | 7.91% | 21.77% | 0.14x | 2.55x | $-34.98 Million |
| 2006 | 9.90% | 25.34% | 0.14x | 2.79x | $-1.59 Million |
| 2007 | 1.93% | 4.49% | 0.14x | 3.13x | $-135.42 Million |
| 2008 | 8.29% | 18.99% | 0.14x | 3.05x | $-30.00 Million |
| 2009 | 6.14% | 15.04% | 0.13x | 3.16x | $-71.70 Million |
| 2010 | 35.89% | 129.44% | 0.13x | 2.13x | $1.08 Billion |
| 2011 | 16.28% | 57.40% | 0.15x | 1.95x | $336.70 Million |
| 2012 | 19.63% | 129.73% | 0.08x | 1.84x | $659.30 Million |
| 2013 | 9.76% | 63.25% | 0.08x | 1.86x | $-17.10 Million |
| 2014 | 8.43% | 64.71% | 0.07x | 1.87x | $-123.54 Million |
| 2015 | 1.79% | 13.03% | 0.07x | 2.02x | $-650.84 Million |
| 2016 | 10.37% | 73.30% | 0.08x | 1.77x | $29.76 Million |
| 2017 | 8.89% | 61.92% | 0.08x | 1.79x | $-89.18 Million |
| 2018 | 6.89% | 46.01% | 0.08x | 1.83x | $-238.54 Million |
| 2019 | 9.34% | 58.50% | 0.09x | 1.83x | $-54.69 Million |
| 2020 | -0.84% | -5.66% | 0.07x | 1.97x | $-838.28 Million |
| 2021 | 7.56% | 50.92% | 0.08x | 1.92x | $-192.75 Million |
| 2022 | 3.06% | 19.51% | 0.08x | 1.95x | $-536.12 Million |
| 2023 | 0.52% | 3.30% | 0.08x | 2.00x | $-704.98 Million |
| 2024 | 6.26% | 38.20% | 0.08x | 2.05x | $-282.37 Million |
Industry Comparison
This section compares Riocan REIT's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,048,860,627
- Average return on equity (ROE) among peers: 3.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Riocan REIT (RIOCF) | $7.14 Billion | -2.34% | 1.10x | $3.42 Billion |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.41 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.69 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.07 Billion | 3.30% | 0.75x | $1.50 Billion |
| Alexanders Inc (ALX) | $50.92 Million | -34.84% | 17.09x | $515.62 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.57 Million |
| Brixmor Property (BRX) | $2.72 Billion | 9.94% | 2.08x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $1.08 Billion | 10.83% | 4.49x | $694.28 Million |
| Capital & Counties Properties PLC (CCPPF) | $2.51 Billion | 17.90% | 0.23x | $1.88 Billion |
| CapitaLand China Trust (CLDHF) | $1.93 Billion | 4.63% | 1.02x | $745.61 Million |