Allied Properties Real Estate Investment Trust (AP-UN) - Net Assets
Based on the latest financial reports, Allied Properties Real Estate Investment Trust (AP-UN) has net assets worth CA$4.02 Billion CAD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.26 Billion) and total liabilities (CA$5.24 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 | CA$4.02 Billion |
| % of Total Assets | 43.38% |
| Annual Growth Rate | 20.37% |
| 5-Year Change | -37.5% |
| 10-Year Change | 32.92% |
| Growth Volatility | 30.09 |
Allied Properties Real Estate Investment Trust - Net Assets Trend (2003–2025)
This chart illustrates how Allied Properties Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Allied Properties Real Estate Investment Trust (2003–2025)
The table below shows the annual net assets of Allied Properties Real Estate Investment Trust from 2003 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$4.02 Billion | -27.80% |
| 2024-12-31 | CA$5.56 Billion | -9.33% |
| 2023-12-31 | CA$6.14 Billion | -13.87% |
| 2022-12-31 | CA$7.12 Billion | +10.85% |
| 2021-12-31 | CA$6.43 Billion | +4.03% |
| 2020-12-31 | CA$6.18 Billion | +8.03% |
| 2019-12-31 | CA$5.72 Billion | +30.70% |
| 2018-12-31 | CA$4.37 Billion | +23.26% |
| 2017-12-31 | CA$3.55 Billion | +17.46% |
| 2016-12-31 | CA$3.02 Billion | +16.58% |
| 2015-12-31 | CA$2.59 Billion | +11.23% |
| 2014-12-31 | CA$2.33 Billion | +12.63% |
| 2013-12-31 | CA$2.07 Billion | +16.37% |
| 2012-12-31 | CA$1.78 Billion | +55.72% |
| 2011-12-31 | CA$1.14 Billion | +123.84% |
| 2010-12-31 | CA$509.99 Million | +5.91% |
| 2009-12-31 | CA$481.53 Million | +24.86% |
| 2008-12-31 | CA$385.65 Million | +33.05% |
| 2007-12-31 | CA$289.87 Million | +34.38% |
| 2006-12-31 | CA$215.70 Million | +37.58% |
| 2005-12-31 | CA$156.78 Million | +59.70% |
| 2004-12-31 | CA$98.18 Million | +44.52% |
| 2003-12-31 | CA$67.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Allied Properties Real Estate Investment Trust'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 56867000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$4.58 Billion | 114.16% |
| Total Equity | CA$4.02 Billion | 100.00% |
Allied Properties Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Allied Properties Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hyundai Development Co
KO:294870
|
$1.01 Billion |
|
JDM Jingda Mach(Ningbo)Co Ltd
SHG:603088
|
$1.01 Billion |
|
Fujian Septwolves Industry Co Ltd
SHE:002029
|
$1.01 Billion |
|
Penguin Solutions, Inc.
NASDAQ:PENG
|
$1.01 Billion |
|
Jayaswal Neco Industries Limited
NSE:JAYNECOIND
|
$1.01 Billion |
|
Asiana Airline
KO:020560
|
$1.01 Billion |
|
Taiwan Microloops Corp.
TW:6831
|
$1.01 Billion |
|
QPOWER
NSE:QPOWER
|
$1.01 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Allied Properties Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,562,644,000 to 4,016,202,000, a change of -1,546,442,000 (-27.8%).
- Net loss of 1,327,532,000 reduced equity.
- Dividend payments of 230,321,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-1.33 Billion | -33.05% |
| Dividends Paid | CA$230.32 Million | -5.73% |
| Other Changes | CA$11.41 Million | +0.28% |
| Total Change | CA$- | -27.80% |
Book Value vs Market Value Analysis
This analysis compares Allied Properties Real Estate Investment Trust'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: 0.38x
- 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 0.99x to 0.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | CA$11.04 | CA$10.92 | x |
| 2004-12-31 | CA$10.79 | CA$10.92 | x |
| 2005-12-31 | CA$11.00 | CA$10.92 | x |
| 2006-12-31 | CA$12.72 | CA$10.92 | x |
| 2007-12-31 | CA$12.20 | CA$10.92 | x |
| 2008-12-31 | CA$13.03 | CA$10.92 | x |
| 2009-12-31 | CA$14.47 | CA$10.92 | x |
| 2010-12-31 | CA$12.72 | CA$10.92 | x |
| 2011-12-31 | CA$23.93 | CA$10.92 | x |
| 2012-12-31 | CA$31.13 | CA$10.92 | x |
| 2013-12-31 | CA$30.47 | CA$10.92 | x |
| 2014-12-31 | CA$32.67 | CA$10.92 | x |
| 2015-12-31 | CA$33.32 | CA$10.92 | x |
| 2016-12-31 | CA$37.33 | CA$10.92 | x |
| 2017-12-31 | CA$40.33 | CA$10.92 | x |
| 2018-12-31 | CA$44.66 | CA$10.92 | x |
| 2019-12-31 | CA$50.72 | CA$10.92 | x |
| 2020-12-31 | CA$49.60 | CA$10.92 | x |
| 2021-12-31 | CA$50.42 | CA$10.92 | x |
| 2022-12-31 | CA$48.07 | CA$10.92 | x |
| 2023-12-31 | CA$43.90 | CA$10.92 | x |
| 2024-12-31 | CA$39.80 | CA$10.92 | x |
| 2025-12-31 | CA$28.74 | CA$10.92 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Allied Properties Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -33.05%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -224.10%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 2.31x
- Recent ROE (-33.05%) is below the historical average (4.84%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 9.47% | 35.85% | 0.11x | 2.31x | CA$-359.30K |
| 2004 | 8.01% | 22.76% | 0.13x | 2.72x | CA$-1.95 Million |
| 2005 | 0.89% | 2.70% | 0.13x | 2.45x | CA$-14.29 Million |
| 2006 | 3.58% | 11.83% | 0.13x | 2.33x | CA$-13.85 Million |
| 2007 | 2.00% | 5.43% | 0.13x | 2.79x | CA$-23.18 Million |
| 2008 | 3.24% | 9.45% | 0.14x | 2.46x | CA$-26.05 Million |
| 2009 | 3.38% | 10.67% | 0.13x | 2.40x | CA$-31.85 Million |
| 2010 | 3.64% | 10.05% | 0.15x | 2.47x | CA$-32.46 Million |
| 2011 | 13.90% | 80.75% | 0.09x | 1.89x | CA$44.50 Million |
| 2012 | 20.80% | 143.12% | 0.08x | 1.72x | CA$192.05 Million |
| 2013 | 11.53% | 79.01% | 0.09x | 1.69x | CA$31.75 Million |
| 2014 | 6.51% | 44.94% | 0.09x | 1.69x | CA$-81.23 Million |
| 2015 | 9.81% | 69.61% | 0.08x | 1.72x | CA$-4.81 Million |
| 2016 | 10.73% | 83.21% | 0.07x | 1.73x | CA$22.15 Million |
| 2017 | 10.09% | 85.38% | 0.07x | 1.64x | CA$3.06 Million |
| 2018 | 12.35% | 123.80% | 0.07x | 1.53x | CA$102.81 Million |
| 2019 | 11.00% | 116.21% | 0.07x | 1.45x | CA$57.45 Million |
| 2020 | 8.11% | 89.34% | 0.06x | 1.52x | CA$-116.97 Million |
| 2021 | 6.90% | 77.90% | 0.05x | 1.62x | CA$-199.43 Million |
| 2022 | 1.58% | 19.98% | 0.04x | 1.81x | CA$-554.32 Million |
| 2023 | -6.94% | -75.48% | 0.05x | 1.73x | CA$-1.04 Billion |
| 2024 | -6.16% | -57.86% | 0.06x | 1.91x | CA$-898.79 Million |
| 2025 | -33.05% | -224.10% | 0.06x | 2.31x | CA$-1.73 Billion |
Industry Comparison
This section compares Allied Properties Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $196,866,500
- Average return on equity (ROE) among peers: -0.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Allied Properties Real Estate Investment Trust (AP-UN) | CA$4.02 Billion | 9.47% | 1.31x | $1.01 Billion |
| BTB Real Estate Investment Trust (BTB-UN) | $46.74 Million | -5.95% | 3.76x | $257.32 Million |
| Inovalis Real Estate Investment Trust (INO-UN) | $123.00 Million | 14.13% | 1.08x | $19.25 Million |
| Ravelin Properties REIT (RPR-UN) | $515.37 Million | -21.95% | 2.39x | $1.46 Million |
| True North Commercial Real Estate Investment Trust (TNT-UN) | $102.36 Million | 12.68% | 2.11x | $85.40 Million |
About Allied Properties Real Estate Investment Trust
Allied Properties Real Estate Investment Trust is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspi… Read more