Canadian Pacific Railway Ltd (CP) - Net Assets

Latest as of December 2025: CA$46.83 Billion CAD ≈ $33.87 Billion USD

Based on the latest financial reports, Canadian Pacific Railway Ltd (CP) has net assets worth CA$46.83 Billion CAD (≈ $33.87 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$85.94 Billion ≈ $62.17 Billion USD) and total liabilities (CA$39.12 Billion ≈ $28.30 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. Explore cash flow conversion of Canadian Pacific Railway Ltd to assess how effectively this company generates cash.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$46.83 Billion
% of Total Assets	54.48%
Annual Growth Rate	10.53%
5-Year Change	38.42%
10-Year Change	912.21%
Growth Volatility	67.43

Canadian Pacific Railway Ltd - Net Assets Trend (1997–2025)

This chart illustrates how Canadian Pacific Railway Ltd's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see CP market cap.

Annual Net Assets for Canadian Pacific Railway Ltd (1997–2025)

The table below shows the annual net assets of Canadian Pacific Railway Ltd from 1997 to 2025. Read Canadian Pacific Railway Ltd total liabilities for a breakdown of total debt and financial obligations.

Year	Net Assets	Change
2025-12-31	CA$46.83 Billion ≈ $33.87 Billion	-4.22%
2024-12-31	CA$48.89 Billion ≈ $35.37 Billion	+15.28%
2023-12-31	CA$42.41 Billion ≈ $30.68 Billion	+9.06%
2022-12-31	CA$38.89 Billion ≈ $28.13 Billion	+14.95%
2021-12-31	CA$33.83 Billion ≈ $24.47 Billion	+362.21%
2020-12-31	CA$7.32 Billion ≈ $5.29 Billion	+3.54%
2019-12-31	CA$7.07 Billion ≈ $5.11 Billion	+6.53%
2018-12-31	CA$6.64 Billion ≈ $4.80 Billion	+3.09%
2017-12-31	CA$6.44 Billion ≈ $4.66 Billion	+39.15%
2016-12-31	CA$4.63 Billion ≈ $3.35 Billion	-7.59%
2015-12-31	CA$5.01 Billion ≈ $3.62 Billion	-10.77%
2014-12-31	CA$5.61 Billion ≈ $4.06 Billion	-20.95%
2013-12-31	CA$7.10 Billion ≈ $5.13 Billion	+24.33%
2012-12-31	CA$5.71 Billion ≈ $4.13 Billion	+22.78%
2011-12-31	CA$4.65 Billion ≈ $3.36 Billion	-3.64%
2010-12-31	CA$4.82 Billion ≈ $3.49 Billion	+3.58%
2009-12-31	CA$4.66 Billion ≈ $3.37 Billion	-22.28%
2008-12-31	CA$5.99 Billion ≈ $4.34 Billion	+9.81%
2007-12-31	CA$5.46 Billion ≈ $3.95 Billion	+12.38%
2006-12-31	CA$4.86 Billion ≈ $3.51 Billion	+10.78%
2005-12-31	CA$4.38 Billion ≈ $3.17 Billion	+10.09%
2004-12-31	CA$3.98 Billion ≈ $2.88 Billion	+8.36%
2003-12-31	CA$3.68 Billion ≈ $2.66 Billion	+8.53%
2002-12-31	CA$3.39 Billion ≈ $2.45 Billion	+7.93%
2001-12-31	CA$3.14 Billion ≈ $2.27 Billion	-11.94%
2000-12-31	CA$3.56 Billion ≈ $2.58 Billion	+13.54%
1999-12-31	CA$3.14 Billion ≈ $2.27 Billion	-2.98%
1998-12-31	CA$3.23 Billion ≈ $2.34 Billion	+13.87%
1997-12-31	CA$2.84 Billion ≈ $2.05 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Canadian Pacific Railway Ltd'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 2807.1% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CA$19.78 Billion	43.12%
Common Stock	CA$24.75 Billion	53.95%
Other Comprehensive Income	CA$1.24 Billion	2.70%
Other Components	CA$105.00 Million	0.23%
Total Equity	CA$45.88 Billion	100.00%

Canadian Pacific Railway Ltd Competitors by Market Cap

The table below lists competitors of Canadian Pacific Railway Ltd ranked by their market capitalization.

Company	Market Cap
Synopsys Inc NASDAQ:SNPS	$77.57 Billion
Illinois Tool Works Inc NYSE:ITW	$77.58 Billion
Glencore PLC JSE:GLN	$77.72 Billion
O’Reilly Automotive Inc NASDAQ:ORLY	$77.92 Billion
BAE SYSTEMS ADR/4 LS-025 F:BSPA	$76.97 Billion
3M Company NYSE:MMM	$76.89 Billion
Brookfield Asset Management Inc NYSE:BAM	$76.70 Billion
China Petroleum & Chemical Corp Class A SHG:600028	$76.62 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Canadian Pacific Railway Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 47,892,000,000 to 45,877,000,000, a change of -2,015,000,000 (-4.2%).
Net income of 4,141,000,000 contributed positively to equity growth.
Dividend payments of 796,000,000 reduced retained earnings.
Share repurchases of 3,942,000,000 reduced equity.
Other comprehensive income decreased equity by 1,442,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$4.14 Billion	+9.03%
Dividends Paid	CA$796.00 Million	-1.74%
Share Repurchases	CA$3.94 Billion	-8.59%
Other Comprehensive Income	CA$-1.44 Billion	-3.14%
Other Changes	CA$24.00 Million	+0.05%
Total Change	CA$-	-4.21%

Book Value vs Market Value Analysis

This analysis compares Canadian Pacific Railway Ltd'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: 2.37x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 33.20x to 2.37x 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$3.58	CA$118.72	x
1998-12-31	CA$4.08	CA$118.72	x
1999-12-31	CA$4.26	CA$118.72	x
2000-12-31	CA$4.84	CA$118.72	x
2001-12-31	CA$3.73	CA$118.72	x
2002-12-31	CA$4.23	CA$118.72	x
2003-12-31	CA$4.59	CA$118.72	x
2004-12-31	CA$5.01	CA$118.72	x
2005-12-31	CA$5.48	CA$118.72	x
2006-12-31	CA$6.12	CA$118.72	x
2007-12-31	CA$7.02	CA$118.72	x
2008-12-31	CA$7.71	CA$118.72	x
2009-12-31	CA$5.59	CA$118.72	x
2010-12-31	CA$5.70	CA$118.72	x
2011-12-31	CA$5.45	CA$118.72	x
2012-12-31	CA$5.89	CA$118.72	x
2013-12-31	CA$8.04	CA$118.72	x
2014-12-31	CA$6.43	CA$118.72	x
2015-12-31	CA$5.96	CA$118.72	x
2016-12-31	CA$6.15	CA$118.72	x
2017-12-31	CA$8.80	CA$118.72	x
2018-12-31	CA$9.26	CA$118.72	x
2019-12-31	CA$10.15	CA$118.72	x
2020-12-31	CA$10.76	CA$118.72	x
2021-12-31	CA$49.54	CA$118.72	x
2022-12-31	CA$41.68	CA$118.72	x
2023-12-31	CA$44.44	CA$118.72	x
2024-12-31	CA$51.24	CA$118.72	x
2025-12-31	CA$50.02	CA$118.72	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Canadian Pacific Railway Ltd 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): 9.03%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 27.46%
• Asset Turnover: 0.18x
• Equity Multiplier: 1.87x
Recent ROE (9.03%) is below the historical average (16.48%), 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	16.51%	12.62%	0.47x	2.76x	CA$184.86 Million
1998	11.20%	10.31%	0.42x	2.59x	CA$38.96 Million
1999	2.13%	1.91%	0.40x	2.79x	CA$-246.90 Million
2000	14.94%	14.56%	0.41x	2.47x	CA$176.02 Million
2001	13.85%	11.10%	0.38x	3.33x	CA$114.12 Million
2002	14.73%	13.53%	0.38x	2.87x	CA$159.17 Million
2003	10.91%	10.89%	0.37x	2.72x	CA$33.24 Million
2004	10.37%	10.58%	0.37x	2.64x	CA$14.76 Million
2005	12.38%	12.36%	0.40x	2.48x	CA$104.33 Million
2006	16.40%	17.37%	0.40x	2.35x	CA$310.65 Million
2007	17.34%	20.10%	0.35x	2.45x	CA$400.41 Million
2008	10.33%	12.86%	0.31x	2.58x	CA$19.66 Million
2009	11.92%	12.62%	0.30x	3.17x	CA$89.59 Million
2010	13.49%	13.06%	0.36x	2.83x	CA$168.23 Million
2011	12.26%	11.01%	0.37x	3.04x	CA$105.10 Million
2012	9.50%	8.50%	0.37x	3.01x	CA$-25.70 Million
2013	12.33%	14.27%	0.36x	2.40x	CA$165.30 Million
2014	26.31%	22.30%	0.39x	3.02x	CA$915.00 Million
2015	28.19%	20.14%	0.34x	4.14x	CA$872.40 Million
2016	34.57%	25.66%	0.32x	4.21x	CA$1.14 Billion
2017	37.36%	36.70%	0.32x	3.15x	CA$1.76 Billion
2018	29.40%	26.67%	0.34x	3.23x	CA$1.29 Billion
2019	34.52%	31.31%	0.35x	3.19x	CA$1.73 Billion
2020	33.39%	31.70%	0.32x	3.25x	CA$1.71 Billion
2021	8.43%	35.67%	0.12x	2.02x	CA$-530.90 Million
2022	9.04%	39.90%	0.12x	1.90x	CA$-371.60 Million
2023	9.46%	31.28%	0.16x	1.94x	CA$-222.20 Million
2024	7.76%	25.56%	0.16x	1.85x	CA$-1.07 Billion
2025	9.03%	27.46%	0.18x	1.87x	CA$-446.70 Million

Industry Comparison

This section compares Canadian Pacific Railway Ltd's net assets metrics with peer companies in the Railroads industry.

Industry Context

Industry: Railroads
Average net assets among peers: $4,650,299,463
Average return on equity (ROE) among peers: 18.90%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Canadian Pacific Railway Ltd (CP)	CA$46.83 Billion	16.51%	0.84x	$77.10 Billion
Canadian National Railway Co (CNR)	$9.28 Billion	13.55%	1.41x	$69.31 Billion
Kelso Technologies Inc (KLS)	$16.60 Million	24.25%	0.25x	$5.99 Million

About Canadian Pacific Railway Ltd

TO:CP Canada Railroads

Market Cap

$77.10 Billion

CA$106.58 Billion CAD

Market Cap Rank

#342 Global

#11 in Canada

Share Price

CA$118.72

Change (1 day)

+0.54%

52-Week Range

CA$97.09 - CA$122.23

All Time High

CA$122.68