Aecon Group Inc. (ARE) - Net Assets
Based on the latest financial reports, Aecon Group Inc. (ARE) has net assets worth CA$922.85 Million CAD (≈ $667.57 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 (CA$3.74 Billion ≈ $2.71 Billion USD) and total liabilities (CA$2.82 Billion ≈ $2.04 Billion USD). 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 Aecon Group Inc. (ARE) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$922.85 Million |
| % of Total Assets | 24.68% |
| Annual Growth Rate | 14.45% |
| 5-Year Change | 10.11% |
| 10-Year Change | 34.03% |
| Growth Volatility | 25.32 |
Aecon Group Inc. - Net Assets Trend (1996–2024)
This chart illustrates how Aecon Group Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore ARE current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Aecon Group Inc. (1996–2024)
The table below shows the annual net assets of Aecon Group Inc. from 1996 to 2024. For live valuation and market cap data, see Aecon Group Inc. (ARE) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$962.44 Million ≈ $696.21 Million |
-9.57% |
| 2023-12-31 | CA$1.06 Billion ≈ $769.92 Million |
+11.57% |
| 2022-12-31 | CA$954.00 Million ≈ $690.11 Million |
+4.43% |
| 2021-12-31 | CA$913.57 Million ≈ $660.86 Million |
+4.51% |
| 2020-12-31 | CA$874.11 Million ≈ $632.32 Million |
+1.88% |
| 2019-12-31 | CA$858.00 Million ≈ $620.66 Million |
+3.99% |
| 2018-12-31 | CA$825.06 Million ≈ $596.84 Million |
+6.95% |
| 2017-12-31 | CA$771.48 Million ≈ $558.07 Million |
+2.37% |
| 2016-12-31 | CA$753.60 Million ≈ $545.14 Million |
+4.95% |
| 2015-12-31 | CA$718.05 Million ≈ $519.43 Million |
+9.47% |
| 2014-12-31 | CA$655.95 Million ≈ $474.50 Million |
+11.82% |
| 2013-12-31 | CA$586.61 Million ≈ $424.34 Million |
+6.74% |
| 2012-12-31 | CA$549.57 Million ≈ $397.55 Million |
+12.18% |
| 2011-12-31 | CA$489.88 Million ≈ $354.37 Million |
+2.92% |
| 2010-12-31 | CA$475.96 Million ≈ $344.30 Million |
+2.95% |
| 2009-12-31 | CA$462.32 Million ≈ $334.44 Million |
+20.17% |
| 2008-12-31 | CA$384.71 Million ≈ $278.30 Million |
+69.97% |
| 2007-12-31 | CA$226.34 Million ≈ $163.73 Million |
+47.36% |
| 2006-12-31 | CA$153.60 Million ≈ $111.11 Million |
+44.46% |
| 2005-12-31 | CA$106.33 Million ≈ $76.92 Million |
+3.28% |
| 2004-12-31 | CA$102.96 Million ≈ $74.48 Million |
-11.98% |
| 2003-12-31 | CA$116.97 Million ≈ $84.61 Million |
-11.09% |
| 2002-12-31 | CA$131.55 Million ≈ $95.16 Million |
+31.85% |
| 2001-12-31 | CA$99.78 Million ≈ $72.18 Million |
+14.56% |
| 2000-12-31 | CA$87.09 Million ≈ $63.00 Million |
+19.96% |
| 1999-12-31 | CA$72.60 Million ≈ $52.52 Million |
+109.22% |
| 1998-12-31 | CA$34.70 Million ≈ $25.10 Million |
+15.28% |
| 1997-12-31 | CA$30.10 Million ≈ $21.77 Million |
+36.82% |
| 1996-12-31 | CA$22.00 Million ≈ $15.91 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Aecon Group Inc.'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 1989.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$440.84 Million | 46.11% |
| Common Stock | CA$442.33 Million | 46.26% |
| Other Comprehensive Income | CA$2.30 Million | 0.24% |
| Other Components | CA$70.65 Million | 7.39% |
| Total Equity | CA$956.12 Million | 100.00% |
Aecon Group Inc. Competitors by Market Cap
The table below lists competitors of Aecon Group Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tellhow Sci-Tech Co Ltd
SHG:600590
|
$1.96 Billion |
|
Grupo Mateus S.A
SA:GMAT3
|
$1.96 Billion |
|
Fresh Del Monte Produce Inc
NYSE:FDP
|
$1.96 Billion |
|
Iridium Communications Inc
NASDAQ:IRDM
|
$1.96 Billion |
|
Digital China Information Service Co Ltd
SHE:000555
|
$1.96 Billion |
|
Datang International Power Generation Co. Ltd
F:BJI
|
$1.96 Billion |
|
J.Pond Precision Technology Co. Ltd. A
SHE:301326
|
$1.96 Billion |
|
North Chemical Industries Co Ltd
SHE:002246
|
$1.96 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Aecon Group Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,064,326,000 to 956,120,000, a change of -108,206,000 (-10.2%).
- Net loss of 59,524,000 reduced equity.
- Dividend payments of 47,070,000 reduced retained earnings.
- Share repurchases of 3,116,000 reduced equity.
- Other comprehensive income increased equity by 648,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-59.52 Million | -6.23% |
| Dividends Paid | CA$47.07 Million | -4.92% |
| Share Repurchases | CA$3.12 Million | -0.33% |
| Other Comprehensive Income | CA$648.00K | +0.07% |
| Other Changes | CA$856.00K | +0.09% |
| Total Change | CA$- | -10.17% |
Book Value vs Market Value Analysis
This analysis compares Aecon Group Inc.'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: 3.38x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 23.53x to 3.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$2.20 | CA$51.76 | x |
| 1997-12-31 | CA$2.97 | CA$51.76 | x |
| 1998-12-31 | CA$3.50 | CA$51.76 | x |
| 1999-12-31 | CA$7.54 | CA$51.76 | x |
| 2000-12-31 | CA$5.19 | CA$51.76 | x |
| 2001-12-31 | CA$4.75 | CA$51.76 | x |
| 2002-12-31 | CA$5.19 | CA$51.76 | x |
| 2003-12-31 | CA$4.27 | CA$51.76 | x |
| 2004-12-31 | CA$3.27 | CA$51.76 | x |
| 2005-12-31 | CA$3.21 | CA$51.76 | x |
| 2006-12-31 | CA$4.14 | CA$51.76 | x |
| 2007-12-31 | CA$4.80 | CA$51.76 | x |
| 2008-12-31 | CA$7.68 | CA$51.76 | x |
| 2009-12-31 | CA$7.82 | CA$51.76 | x |
| 2010-12-31 | CA$6.25 | CA$51.76 | x |
| 2011-12-31 | CA$5.63 | CA$51.76 | x |
| 2012-12-31 | CA$6.88 | CA$51.76 | x |
| 2013-12-31 | CA$11.14 | CA$51.76 | x |
| 2014-12-31 | CA$11.14 | CA$51.76 | x |
| 2015-12-31 | CA$8.90 | CA$51.76 | x |
| 2016-12-31 | CA$10.42 | CA$51.76 | x |
| 2017-12-31 | CA$13.16 | CA$51.76 | x |
| 2018-12-31 | CA$11.16 | CA$51.76 | x |
| 2019-12-31 | CA$11.62 | CA$51.76 | x |
| 2020-12-31 | CA$11.52 | CA$51.76 | x |
| 2021-12-31 | CA$12.37 | CA$51.76 | x |
| 2022-12-31 | CA$14.76 | CA$51.76 | x |
| 2023-12-31 | CA$12.99 | CA$51.76 | x |
| 2024-12-31 | CA$15.33 | CA$51.76 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Aecon Group Inc. 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): -6.23%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.40%
- • Asset Turnover: 1.32x
- • Equity Multiplier: 3.37x
- Recent ROE (-6.23%) is below the historical average (7.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | 40.91% | 4.37% | 2.10x | 4.45x | CA$6.80 Million |
| 1997 | 26.58% | 4.16% | 1.96x | 3.26x | CA$4.99 Million |
| 1998 | 14.41% | 3.30% | 1.38x | 3.17x | CA$1.53 Million |
| 1999 | 8.40% | 2.86% | 0.46x | 6.34x | CA$-1.16 Million |
| 2000 | 19.12% | 1.65% | 1.91x | 6.04x | CA$7.94 Million |
| 2001 | 12.41% | 1.09% | 1.93x | 5.91x | CA$2.41 Million |
| 2002 | 0.17% | 0.02% | 2.08x | 3.92x | CA$-12.93 Million |
| 2003 | -11.86% | -1.43% | 2.01x | 4.13x | CA$-25.57 Million |
| 2004 | -40.43% | -4.15% | 2.20x | 4.42x | CA$-51.92 Million |
| 2005 | -1.07% | -0.10% | 2.22x | 4.74x | CA$-11.77 Million |
| 2006 | 7.49% | 1.03% | 1.55x | 4.66x | CA$-3.86 Million |
| 2007 | 21.79% | 3.29% | 1.64x | 4.04x | CA$26.59 Million |
| 2008 | 15.52% | 3.16% | 1.58x | 3.11x | CA$21.12 Million |
| 2009 | 9.70% | 1.96% | 1.34x | 3.69x | CA$-1.35 Million |
| 2010 | 5.84% | 0.99% | 1.31x | 4.47x | CA$-19.49 Million |
| 2011 | 11.83% | 1.99% | 1.46x | 4.08x | CA$8.92 Million |
| 2012 | 14.36% | 2.70% | 1.36x | 3.92x | CA$23.66 Million |
| 2013 | 6.92% | 1.32% | 1.54x | 3.40x | CA$-18.06 Million |
| 2014 | 4.58% | 1.15% | 1.43x | 2.79x | CA$-35.55 Million |
| 2015 | 9.56% | 2.35% | 1.56x | 2.61x | CA$-3.13 Million |
| 2016 | 6.20% | 1.46% | 1.60x | 2.66x | CA$-28.60 Million |
| 2017 | 3.65% | 1.00% | 1.11x | 3.28x | CA$-48.97 Million |
| 2018 | 7.15% | 1.81% | 1.11x | 3.55x | CA$-23.49 Million |
| 2019 | 8.49% | 2.11% | 1.11x | 3.63x | CA$-12.95 Million |
| 2020 | 10.07% | 2.42% | 1.11x | 3.76x | CA$619.30K |
| 2021 | 5.44% | 1.25% | 1.21x | 3.60x | CA$-41.67 Million |
| 2022 | 3.18% | 0.65% | 1.32x | 3.74x | CA$-65.02 Million |
| 2023 | 15.21% | 3.49% | 1.45x | 3.00x | CA$55.46 Million |
| 2024 | -6.23% | -1.40% | 1.32x | 3.37x | CA$-155.14 Million |
Industry Comparison
This section compares Aecon Group Inc.'s net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $106,265,052
- Average return on equity (ROE) among peers: -23.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Aecon Group Inc. (ARE) | CA$922.85 Million | 40.91% | 3.05x | $1.96 Billion |
| AtkinsRealis Group Inc (ATRL) | $237.70 Million | 15.57% | 3.15x | $11.31 Billion |
| Badger Infrastructure Solutions Ltd (BDGI) | $69.30 Million | 28.36% | 0.91x | $1.91 Billion |
| Bird Construction Inc. (BDT) | $53.27 Million | 62.72% | 5.41x | $1.68 Billion |
| DIRTT Environmental Solutions Ltd. (DRT) | $67.77 Million | -79.20% | 1.94x | $111.02 Million |
| Minaean SP Construction Corp (MSP) | $792.49K | -150.68% | 0.81x | $6.16 Million |
| Global Power Solutions Corp. (PWER) | $-464.21K | 0.00% | 0.00x | $5.28 Million |
| Reco International Group Inc (RGI) | $344.66K | -112.19% | 2.00x | $359.06K |
| Stantec Inc (STN) | $26.30 Million | 16.35% | 1.02x | $10.26 Billion |
| WSP Global Inc (WSP) | $501.37 Million | 9.98% | 0.45x | $22.14 Billion |
About Aecon Group Inc.
Aecon Group Inc., together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastr… Read more