Canadian Apartment Properties Real Estate Investment Trust (CAR-UN) - Net Assets
Based on the latest financial reports, Canadian Apartment Properties Real Estate Investment Trust (CAR-UN) has net assets worth CA$8.76 Billion CAD (≈ $6.34 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$15.13 Billion ≈ $10.95 Billion USD) and total liabilities (CA$6.37 Billion ≈ $4.61 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 Canadian Apartment Properties Real Estat liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$8.76 Billion |
| % of Total Assets | 57.89% |
| Annual Growth Rate | 18.57% |
| 5-Year Change | -15.76% |
| 10-Year Change | 110.64% |
| Growth Volatility | 40.88 |
Canadian Apartment Properties Real Estate Investment Trust - Net Assets Trend (1997–2025)
This chart illustrates how Canadian Apartment Properties Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore Canadian Apartment Properties Real Estat total assets for the complete picture of this company's asset base.
Annual Net Assets for Canadian Apartment Properties Real Estate Investment Trust (1997–2025)
The table below shows the annual net assets of Canadian Apartment Properties Real Estate Investment Trust from 1997 to 2025. For live valuation and market cap data, see CAR-UN stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$8.76 Billion ≈ $6.34 Billion |
-2.96% |
| 2024-12-31 | CA$9.03 Billion ≈ $6.53 Billion |
-2.71% |
| 2023-12-31 | CA$9.28 Billion ≈ $6.71 Billion |
-7.25% |
| 2022-12-31 | CA$10.00 Billion ≈ $7.24 Billion |
-3.81% |
| 2021-12-31 | CA$10.40 Billion ≈ $7.52 Billion |
+12.14% |
| 2020-12-31 | CA$9.27 Billion ≈ $6.71 Billion |
+10.35% |
| 2019-12-31 | CA$8.40 Billion ≈ $6.08 Billion |
+33.04% |
| 2018-12-31 | CA$6.32 Billion ≈ $4.57 Billion |
+28.30% |
| 2017-12-31 | CA$4.92 Billion ≈ $3.56 Billion |
+18.38% |
| 2016-12-31 | CA$4.16 Billion ≈ $3.01 Billion |
+13.63% |
| 2015-12-31 | CA$3.66 Billion ≈ $2.65 Billion |
+22.69% |
| 2014-12-31 | CA$2.98 Billion ≈ $2.16 Billion |
+8.18% |
| 2013-12-31 | CA$2.76 Billion ≈ $1.99 Billion |
+13.51% |
| 2012-12-31 | CA$2.43 Billion ≈ $1.76 Billion |
+39.56% |
| 2011-12-31 | CA$1.74 Billion ≈ $1.26 Billion |
+192.13% |
| 2010-12-31 | CA$595.85 Million ≈ $431.03 Million |
+30.33% |
| 2009-12-31 | CA$457.18 Million ≈ $330.72 Million |
-5.92% |
| 2008-12-31 | CA$485.93 Million ≈ $351.52 Million |
-16.83% |
| 2007-12-31 | CA$584.28 Million ≈ $422.66 Million |
-1.72% |
| 2006-12-31 | CA$594.48 Million ≈ $430.04 Million |
+1.04% |
| 2005-12-31 | CA$588.36 Million ≈ $425.61 Million |
+2.20% |
| 2004-12-31 | CA$575.70 Million ≈ $416.45 Million |
+113.08% |
| 2003-12-31 | CA$270.18 Million ≈ $195.44 Million |
+2.46% |
| 2002-12-31 | CA$263.70 Million ≈ $190.76 Million |
+4.14% |
| 2001-12-31 | CA$253.22 Million ≈ $183.18 Million |
+24.06% |
| 2000-12-31 | CA$204.11 Million ≈ $147.65 Million |
+26.96% |
| 1999-12-31 | CA$160.76 Million ≈ $116.29 Million |
+52.35% |
| 1998-12-31 | CA$105.52 Million ≈ $76.33 Million |
+41.78% |
| 1997-12-31 | CA$74.43 Million ≈ $53.84 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Canadian Apartment 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 grown by 450072200000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$4.50 Billion | 51.37% |
| Common Stock | CA$4.19 Billion | 47.83% |
| Other Comprehensive Income | CA$69.97 Million | 0.80% |
| Total Equity | CA$8.76 Billion | 100.00% |
Canadian Apartment Properties Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Canadian Apartment Properties Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hamilton Lane Inc
NASDAQ:HLNE
|
$4.07 Billion |
|
Netwealth Group Ltd
AU:NWL
|
$4.07 Billion |
|
MeiHua Holdings Group Co Ltd
SHG:600873
|
$4.07 Billion |
|
Parq Arauco
SN:PARAUCO
|
$4.07 Billion |
|
Corporación Moctezuma S.A.B. de C.V
MX:CMOCTEZ
|
$4.06 Billion |
|
Kenon Holdings
NYSE:KEN
|
$4.06 Billion |
|
CITIC Heavy Industries Co Ltd
SHG:601608
|
$4.05 Billion |
|
BGC Group Inc.
NASDAQ:BGC
|
$4.05 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Canadian Apartment 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 9,027,312,000 to 8,761,196,000, a change of -266,116,000 (-2.9%).
- Net income of 197,051,000 contributed positively to equity growth.
- Dividend payments of 238,970,000 reduced retained earnings.
- Share repurchases of 300,646,000 reduced equity.
- New share issuances of 2,276,000 increased equity.
- Other comprehensive income increased equity by 60,426,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$197.05 Million | +2.25% |
| Dividends Paid | CA$238.97 Million | -2.73% |
| Share Repurchases | CA$300.65 Million | -3.43% |
| Share Issuances | CA$2.28 Million | +0.03% |
| Other Comprehensive Income | CA$60.43 Million | +0.69% |
| Other Changes | CA$13.75 Million | +0.16% |
| Total Change | CA$- | -2.95% |
Book Value vs Market Value Analysis
This analysis compares Canadian Apartment 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: 0.66x
- 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 4.38x to 0.66x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | CA$8.34 | CA$36.51 | x |
| 1998-12-31 | CA$11.40 | CA$36.51 | x |
| 1999-12-31 | CA$11.36 | CA$36.51 | x |
| 2000-12-31 | CA$10.39 | CA$36.51 | x |
| 2001-12-31 | CA$10.41 | CA$36.51 | x |
| 2002-12-31 | CA$9.43 | CA$36.51 | x |
| 2003-12-31 | CA$9.40 | CA$36.51 | x |
| 2004-12-31 | CA$13.74 | CA$36.51 | x |
| 2005-12-31 | CA$11.04 | CA$36.51 | x |
| 2006-12-31 | CA$10.46 | CA$36.51 | x |
| 2007-12-31 | CA$9.67 | CA$36.51 | x |
| 2008-12-31 | CA$7.41 | CA$36.51 | x |
| 2009-12-31 | CA$6.91 | CA$36.51 | x |
| 2010-12-31 | CA$8.82 | CA$36.51 | x |
| 2011-12-31 | CA$22.47 | CA$36.51 | x |
| 2012-12-31 | CA$26.81 | CA$36.51 | x |
| 2013-12-31 | CA$26.65 | CA$36.51 | x |
| 2014-12-31 | CA$26.64 | CA$36.51 | x |
| 2015-12-31 | CA$30.52 | CA$36.51 | x |
| 2016-12-31 | CA$31.39 | CA$36.51 | x |
| 2017-12-31 | CA$35.72 | CA$36.51 | x |
| 2018-12-31 | CA$43.81 | CA$36.51 | x |
| 2019-12-31 | CA$52.82 | CA$36.51 | x |
| 2020-12-31 | CA$54.01 | CA$36.51 | x |
| 2021-12-31 | CA$59.76 | CA$36.51 | x |
| 2022-12-31 | CA$57.22 | CA$36.51 | x |
| 2023-12-31 | CA$54.70 | CA$36.51 | x |
| 2024-12-31 | CA$53.55 | CA$36.51 | x |
| 2025-12-31 | CA$55.01 | CA$36.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Canadian Apartment Properties Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.25%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.64%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.73x
- Recent ROE (2.25%) is below the historical average (7.35%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 5.22% | 17.06% | 0.10x | 3.18x | CA$-3.56 Million |
| 1998 | 8.18% | 20.29% | 0.14x | 2.89x | CA$-1.92 Million |
| 1999 | 1.35% | 3.61% | 0.14x | 2.61x | CA$-13.90 Million |
| 2000 | 8.76% | 22.92% | 0.15x | 2.59x | CA$-2.52 Million |
| 2001 | 9.11% | 23.27% | 0.16x | 2.45x | CA$-2.26 Million |
| 2002 | 10.46% | 23.76% | 0.15x | 2.97x | CA$1.20 Million |
| 2003 | 10.62% | 21.71% | 0.16x | 3.11x | CA$1.67 Million |
| 2004 | 1.78% | 4.92% | 0.11x | 3.24x | CA$-47.35 Million |
| 2005 | 2.18% | 4.95% | 0.13x | 3.30x | CA$-46.03 Million |
| 2006 | 0.12% | 0.25% | 0.14x | 3.40x | CA$-58.73 Million |
| 2007 | -8.59% | -17.07% | 0.13x | 3.87x | CA$-108.62 Million |
| 2008 | -0.72% | -1.09% | 0.14x | 4.62x | CA$-52.07 Million |
| 2009 | 3.44% | 4.75% | 0.15x | 4.99x | CA$-30.00 Million |
| 2010 | 10.63% | 18.99% | 0.14x | 3.95x | CA$3.74 Million |
| 2011 | 18.16% | 87.35% | 0.10x | 2.19x | CA$142.11 Million |
| 2012 | 16.97% | 99.96% | 0.08x | 2.03x | CA$169.34 Million |
| 2013 | 9.71% | 56.11% | 0.09x | 2.02x | CA$-8.07 Million |
| 2014 | 10.66% | 62.79% | 0.09x | 1.99x | CA$19.66 Million |
| 2015 | 9.44% | 64.75% | 0.08x | 1.94x | CA$-20.36 Million |
| 2016 | 10.57% | 73.62% | 0.08x | 1.90x | CA$23.60 Million |
| 2017 | 17.00% | 130.99% | 0.07x | 1.87x | CA$344.47 Million |
| 2018 | 19.28% | 176.84% | 0.06x | 1.72x | CA$586.00 Million |
| 2019 | 14.22% | 153.68% | 0.06x | 1.67x | CA$355.06 Million |
| 2020 | 9.98% | 104.90% | 0.06x | 1.67x | CA$-1.44 Million |
| 2021 | 13.39% | 149.26% | 0.05x | 1.70x | CA$352.81 Million |
| 2022 | 0.14% | 1.35% | 0.06x | 1.77x | CA$-986.73 Million |
| 2023 | -4.44% | -38.63% | 0.06x | 1.83x | CA$-1.34 Billion |
| 2024 | 3.24% | 26.31% | 0.07x | 1.73x | CA$-609.99 Million |
| 2025 | 2.25% | 19.64% | 0.07x | 1.73x | CA$-679.07 Million |
Industry Comparison
This section compares Canadian Apartment Properties Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Residential industry.
Industry Context
- Industry: REIT - Residential
- Average net assets among peers: $546,366,765
- Average return on equity (ROE) among peers: 5.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Canadian Apartment Properties Real Estate Investment Trust (CAR-UN) | CA$8.76 Billion | 5.22% | 0.73x | $4.06 Billion |
| Boardwalk Real Estate Investment Trust (BEI-UN) | $217.30 Million | 3.68% | 3.28x | $2.34 Billion |
| European Residential Real Estate Investment Trust (ERE-UN) | $3.35 Million | -1.83% | 0.09x | $79.47 Million |
| BSR Real Estate Investment Trust (HOM-UN) | $657.60 Million | -6.12% | 1.71x | $114.41K |
| InterRent Real Estate Investment Trust (IIP-UN) | $2.82 Million | 6.08% | 1.84x | $1.33 Billion |
| Killam Apartment Real Estate Investment Trust (KMP-UN) | $2.11 Billion | 13.52% | 1.17x | $1.50 Billion |
| Lanesborough Real Estate Investment Trust (LRT-UN) | $-36.64 Million | 0.00% | 0.00x | $2.46 Million |
| Flagship Communities Real Estate Investment Trust (MHC-U) | $322.69 Million | 18.60% | 1.15x | $368.64 Million |
| Minto Apartment Real Estate Investment Trust (MI-UN) | $1.12 Billion | 5.67% | 1.37x | $463.75 Million |
| Morguard North American Residential Real Estate Investment Trust (MRG-UN) | $522.96 Million | 10.78% | 2.20x | $424.29 Million |
About Canadian Apartment Properties Real Estate Investment Trust
Canadian Apartment Properties Real Estate Investment Trust is Canada's largest publicly traded provider of quality rental housing. As at December 31, 2025, CAPREIT owns approximately 45,500 residential apartment suites and townhomes (excluding approximately 400 suites classified as assets held for sale), that are well-located across Canada and, to a lesser extent, the Netherlands, with a total fa… Read more