Cascades Inc. (CAS) - Net Assets
Based on the latest financial reports, Cascades Inc. (CAS) has net assets worth CA$1.75 Billion CAD (≈ $1.27 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$4.67 Billion ≈ $3.38 Billion USD) and total liabilities (CA$2.92 Billion ≈ $2.11 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 CAS asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.75 Billion |
| % of Total Assets | 37.56% |
| Annual Growth Rate | 3.25% |
| 5-Year Change | -8.93% |
| 10-Year Change | 63.41% |
| Growth Volatility | 12.94 |
Cascades Inc. - Net Assets Trend (1996–2025)
This chart illustrates how Cascades Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore Cascades Inc. balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Cascades Inc. (1996–2025)
The table below shows the annual net assets of Cascades Inc. from 1996 to 2025. For live valuation and market cap data, see CAS market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$1.75 Billion ≈ $1.27 Billion |
-0.90% |
| 2024-12-31 | CA$1.77 Billion ≈ $1.28 Billion |
-0.56% |
| 2023-12-31 | CA$1.78 Billion ≈ $1.29 Billion |
-7.62% |
| 2022-12-31 | CA$1.93 Billion ≈ $1.39 Billion |
+0.05% |
| 2021-12-31 | CA$1.93 Billion ≈ $1.39 Billion |
-1.53% |
| 2020-12-31 | CA$1.96 Billion ≈ $1.42 Billion |
+17.47% |
| 2019-12-31 | CA$1.67 Billion ≈ $1.21 Billion |
-1.30% |
| 2018-12-31 | CA$1.69 Billion ≈ $1.22 Billion |
+5.43% |
| 2017-12-31 | CA$1.60 Billion ≈ $1.16 Billion |
+49.07% |
| 2016-12-31 | CA$1.07 Billion ≈ $776.92 Million |
+11.53% |
| 2015-12-31 | CA$963.00 Million ≈ $696.62 Million |
-3.99% |
| 2014-12-31 | CA$1.00 Billion ≈ $725.55 Million |
-16.00% |
| 2013-12-31 | CA$1.19 Billion ≈ $863.72 Million |
+9.14% |
| 2012-12-31 | CA$1.09 Billion ≈ $791.38 Million |
-6.09% |
| 2011-12-31 | CA$1.17 Billion ≈ $842.74 Million |
-9.06% |
| 2010-12-31 | CA$1.28 Billion ≈ $926.66 Million |
-1.76% |
| 2009-12-31 | CA$1.30 Billion ≈ $943.29 Million |
+2.03% |
| 2008-12-31 | CA$1.28 Billion ≈ $924.49 Million |
+4.41% |
| 2007-12-31 | CA$1.22 Billion ≈ $885.42 Million |
+4.08% |
| 2006-12-31 | CA$1.18 Billion ≈ $850.70 Million |
+31.10% |
| 2005-12-31 | CA$897.00 Million ≈ $648.88 Million |
-15.30% |
| 2004-12-31 | CA$1.06 Billion ≈ $766.06 Million |
+0.28% |
| 2003-12-31 | CA$1.06 Billion ≈ $763.89 Million |
-0.85% |
| 2002-12-31 | CA$1.06 Billion ≈ $770.40 Million |
+19.53% |
| 2001-12-31 | CA$891.00 Million ≈ $644.54 Million |
+10.41% |
| 2000-12-31 | CA$807.00 Million ≈ $583.77 Million |
-3.24% |
| 1999-12-31 | CA$834.00 Million ≈ $603.30 Million |
+2.46% |
| 1998-12-31 | CA$814.00 Million ≈ $588.84 Million |
+5.62% |
| 1997-12-31 | CA$770.70 Million ≈ $557.51 Million |
+11.05% |
| 1996-12-31 | CA$694.00 Million ≈ $502.03 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Cascades 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 192.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$1.04 Billion | 60.55% |
| Common Stock | CA$619.00 Million | 35.97% |
| Other Comprehensive Income | CA$43.00 Million | 2.50% |
| Other Components | CA$17.00 Million | 0.99% |
| Total Equity | CA$1.72 Billion | 100.00% |
Cascades Inc. Competitors by Market Cap
The table below lists competitors of Cascades Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Wuxi Double Elephant Micro Fibre Material Co Ltd
SHE:002395
|
$791.62 Million |
|
Eurocrane China Co Ltd
SHG:603966
|
$791.65 Million |
|
Beijing SDL Technology Co Ltd
SHE:002658
|
$791.70 Million |
|
Hubei Century Network Technology Co Ltd
SHE:300494
|
$791.70 Million |
|
Semen Indonesia Persero Tbk
JK:SMGR
|
$791.23 Million |
|
Shenzhen Longtech Smart Control Co. Ltd.
SHE:300916
|
$790.97 Million |
|
Anhui Genuine New Materials Co Ltd
SHG:603429
|
$790.51 Million |
|
Qingdao Hiron Commercial Cold Chain Co Ltd
SHG:603187
|
$790.50 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cascades Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,724,000,000 to 1,721,000,000, a change of -3,000,000 (-0.2%).
- Net income of 70,000,000 contributed positively to equity growth.
- Dividend payments of 49,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 30,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$70.00 Million | +4.07% |
| Dividends Paid | CA$49.00 Million | -2.85% |
| Other Comprehensive Income | CA$-30.00 Million | -1.74% |
| Other Changes | CA$6.00 Million | +0.35% |
| Total Change | CA$- | -0.17% |
Book Value vs Market Value Analysis
This analysis compares Cascades 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: 0.64x
- 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 1.49x to 0.64x 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$7.24 | CA$10.80 | x |
| 1997-12-31 | CA$8.33 | CA$10.80 | x |
| 1998-12-31 | CA$9.20 | CA$10.80 | x |
| 1999-12-31 | CA$9.70 | CA$10.80 | x |
| 2000-12-31 | CA$9.59 | CA$10.80 | x |
| 2001-12-31 | CA$11.00 | CA$10.80 | x |
| 2002-12-31 | CA$12.92 | CA$10.80 | x |
| 2003-12-31 | CA$12.92 | CA$10.80 | x |
| 2004-12-31 | CA$12.96 | CA$10.80 | x |
| 2005-12-31 | CA$11.04 | CA$10.80 | x |
| 2006-12-31 | CA$14.29 | CA$10.80 | x |
| 2007-12-31 | CA$12.07 | CA$10.80 | x |
| 2008-12-31 | CA$12.71 | CA$10.80 | x |
| 2009-12-31 | CA$13.04 | CA$10.80 | x |
| 2010-12-31 | CA$12.98 | CA$10.80 | x |
| 2011-12-31 | CA$10.60 | CA$10.80 | x |
| 2012-12-31 | CA$10.39 | CA$10.80 | x |
| 2013-12-31 | CA$11.42 | CA$10.80 | x |
| 2014-12-31 | CA$9.36 | CA$10.80 | x |
| 2015-12-31 | CA$9.19 | CA$10.80 | x |
| 2016-12-31 | CA$10.16 | CA$10.80 | x |
| 2017-12-31 | CA$14.91 | CA$10.80 | x |
| 2018-12-31 | CA$15.56 | CA$10.80 | x |
| 2019-12-31 | CA$15.59 | CA$10.80 | x |
| 2020-12-31 | CA$18.27 | CA$10.80 | x |
| 2021-12-31 | CA$18.44 | CA$10.80 | x |
| 2022-12-31 | CA$18.59 | CA$10.80 | x |
| 2023-12-31 | CA$17.30 | CA$10.80 | x |
| 2024-12-31 | CA$17.04 | CA$10.80 | x |
| 2025-12-31 | CA$16.97 | CA$10.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cascades 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): 4.07%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.47%
- • Asset Turnover: 1.02x
- • Equity Multiplier: 2.72x
- Recent ROE (4.07%) is below the historical average (4.57%), 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 | 15.47% | 3.80% | 1.12x | 3.63x | CA$28.25 Million |
| 1997 | 9.84% | 2.51% | 0.95x | 4.13x | CA$-880.00K |
| 1998 | 7.28% | 1.78% | 1.02x | 4.02x | CA$-16.80 Million |
| 1999 | 8.94% | 2.09% | 1.14x | 3.75x | CA$-6.90 Million |
| 2000 | 9.66% | 2.47% | 1.15x | 3.40x | CA$-2.60 Million |
| 2001 | 13.47% | 3.73% | 1.17x | 3.09x | CA$30.90 Million |
| 2002 | 15.87% | 4.71% | 1.21x | 2.78x | CA$62.50 Million |
| 2003 | 5.21% | 1.59% | 1.18x | 2.77x | CA$-50.60 Million |
| 2004 | 2.17% | 0.71% | 1.03x | 2.97x | CA$-82.90 Million |
| 2005 | -10.81% | -2.80% | 1.14x | 3.40x | CA$-186.70 Million |
| 2006 | 0.26% | 0.09% | 0.87x | 3.38x | CA$-112.70 Million |
| 2007 | 7.92% | 2.42% | 1.04x | 3.14x | CA$-24.90 Million |
| 2008 | -4.38% | -1.37% | 1.00x | 3.21x | CA$-180.60 Million |
| 2009 | 4.60% | 1.55% | 1.02x | 2.91x | CA$-70.40 Million |
| 2010 | 1.35% | 0.43% | 1.06x | 2.96x | CA$-108.70 Million |
| 2011 | 9.62% | 2.73% | 0.97x | 3.63x | CA$-3.90 Million |
| 2012 | -1.12% | -0.30% | 0.99x | 3.78x | CA$-108.80 Million |
| 2013 | 1.02% | 0.29% | 1.00x | 3.54x | CA$-97.10 Million |
| 2014 | -16.46% | -4.13% | 0.97x | 4.11x | CA$-236.30 Million |
| 2015 | -7.50% | -1.68% | 1.00x | 4.44x | CA$-151.70 Million |
| 2016 | 13.72% | 3.37% | 1.05x | 3.88x | CA$36.60 Million |
| 2017 | 34.85% | 11.73% | 0.99x | 3.01x | CA$361.50 Million |
| 2018 | 3.78% | 1.23% | 0.94x | 3.28x | CA$-93.80 Million |
| 2019 | 6.51% | 1.94% | 0.96x | 3.48x | CA$-51.90 Million |
| 2020 | 11.29% | 3.84% | 0.95x | 3.09x | CA$22.70 Million |
| 2021 | -2.50% | -1.19% | 0.87x | 2.43x | CA$-234.90 Million |
| 2022 | -0.75% | -0.31% | 0.88x | 2.70x | CA$-201.10 Million |
| 2023 | -4.37% | -1.64% | 0.97x | 2.74x | CA$-249.90 Million |
| 2024 | -1.80% | -0.66% | 0.94x | 2.90x | CA$-203.40 Million |
| 2025 | 4.07% | 1.47% | 1.02x | 2.72x | CA$-102.10 Million |
Industry Comparison
This section compares Cascades Inc.'s net assets metrics with peer companies in the Packaging & Containers industry.
Industry Context
- Industry: Packaging & Containers
- Average net assets among peers: $945,071,211
- Average return on equity (ROE) among peers: 8.31%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cascades Inc. (CAS) | CA$1.75 Billion | 15.47% | 1.66x | $791.49 Million |
| CCL Industries Inc (CCL-B) | $3.75 Billion | 15.99% | 1.04x | $9.92 Billion |
| Imaflex Inc (IFX) | $28.42 Million | 12.49% | 0.89x | $88.17 Million |
| NEXE Innovations Inc (NEXE) | $33.60 Million | -19.44% | 0.09x | $13.72 Million |
| Supremex Inc. (SXP) | $82.34 Million | 17.72% | 0.61x | $64.10 Million |
| Transcontinental Inc (TCL-A) | $1.07 Billion | 13.69% | 0.93x | $286.82 Million |
| Transcontinental Inc (TCL-B) | $488.40 Million | 8.62% | 1.36x | $47.59 Million |
| Winpak Ltd. (WPK) | $1.17 Billion | 9.11% | 0.14x | $1.71 Billion |
About Cascades Inc.
Cascades Inc., together with its subsidiaries, produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through two segments, Packaging Products, and Tissue Papers. It offers food packaging solutions, such as trays and accessories, produce baskets, boxes and trays, egg packaging, bulk bins, and cup carriers; protective packaging, includin… Read more