Cardiol Therapeutics Inc Class A (CRDL) - Net Assets

Latest as of December 2025: CA$17.88 Million CAD ≈ $12.93 Million USD

Based on the latest financial reports, Cardiol Therapeutics Inc Class A (CRDL) has net assets worth CA$17.88 Million CAD (≈ $12.93 Million 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$23.62 Million ≈ $17.09 Million USD) and total liabilities (CA$5.74 Million ≈ $4.15 Million 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 CRDL financial resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$17.88 Million
% of Total Assets	75.69%
Annual Growth Rate	25.78%
5-Year Change	-76.55%
10-Year Change	N/A
Growth Volatility	266.94

Cardiol Therapeutics Inc Class A - Net Assets Trend (2017–2025)

This chart illustrates how Cardiol Therapeutics Inc Class A's net assets have evolved over time, based on quarterly financial data. Also explore CRDL current and non-current assets for the complete picture of this company's asset base.

Annual Net Assets for Cardiol Therapeutics Inc Class A (2017–2025)

The table below shows the annual net assets of Cardiol Therapeutics Inc Class A from 2017 to 2025. For live valuation and market cap data, see CRDL stock market capitalisation.

Year	Net Assets	Change
2025-12-31	CA$17.88 Million ≈ $12.93 Million	-27.70%
2024-12-31	CA$24.73 Million ≈ $17.89 Million	-12.45%
2023-12-31	CA$28.25 Million ≈ $20.43 Million	-45.89%
2022-12-31	CA$52.20 Million ≈ $37.76 Million	-31.53%
2021-12-31	CA$76.24 Million ≈ $55.15 Million	+474.50%
2020-12-31	CA$13.27 Million ≈ $9.60 Million	-9.55%
2019-12-31	CA$14.67 Million ≈ $10.61 Million	-34.13%
2018-12-31	CA$22.27 Million ≈ $16.11 Million	+680.47%
2017-12-31	CA$2.85 Million ≈ $2.06 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Cardiol Therapeutics Inc Class A'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 21141204900.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	CA$201.87 Million	1129.15%
Other Components	CA$29.08 Million	162.68%
Total Equity	CA$17.88 Million	100.00%

Cardiol Therapeutics Inc Class A Competitors by Market Cap

The table below lists competitors of Cardiol Therapeutics Inc Class A ranked by their market capitalization.

Company	Market Cap
Theratechnologies Inc. TO:TH	$148.68 Million
Silver X Mining Corp V:AGX	$148.73 Million
KB Star REIT Co. Ltd. KO:432320	$148.79 Million
EQL PHARMA AB F:7JK	$148.83 Million
SV Investment Corporation KQ:289080	$148.56 Million
Formuepleje Limittellus CO:FPILIM	$148.56 Million
Sahamitr Pressure Container Public Company Limited BK:SMPC	$148.55 Million
TGE Value Creative Solutions Corp NYSE:BEBE	$148.50 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Cardiol Therapeutics Inc Class A's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 24,728,483 to 17,877,718, a change of -6,850,765 (-27.7%).
Net loss of 33,818,874 reduced equity.
New share issuances of 16,037,974 increased equity.
Other factors increased equity by 10,930,135.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$-33.82 Million	-189.17%
Share Issuances	CA$16.04 Million	+89.71%
Other Changes	CA$10.93 Million	+61.14%
Total Change	CA$-	-27.70%

Book Value vs Market Value Analysis

This analysis compares Cardiol Therapeutics Inc Class A'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: 8.95x
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 14.64x to 8.95x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	CA$0.13	CA$1.84	x
2018-12-31	CA$1.45	CA$1.84	x
2019-12-31	CA$0.57	CA$1.84	x
2020-12-31	CA$0.44	CA$1.84	x
2021-12-31	CA$1.76	CA$1.84	x
2022-12-31	CA$0.84	CA$1.84	x
2023-12-31	CA$0.44	CA$1.84	x
2024-12-31	CA$0.35	CA$1.84	x
2025-12-31	CA$0.21	CA$1.84	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Cardiol Therapeutics Inc Class A 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): -189.17%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 0.00%
• Asset Turnover: 0.00x
• Equity Multiplier: 1.32x
Recent ROE (-189.17%) is below the historical average (-96.89%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2017	-58.20%	0.00%	0.00x	1.13x	CA$-1.95 Million
2018	-71.36%	0.00%	0.00x	1.11x	CA$-18.12 Million
2019	-95.31%	0.00%	0.00x	1.06x	CA$-15.45 Million
2020	-155.60%	-26216.78%	0.00x	1.20x	CA$-21.98 Million
2021	-32.43%	-31391.46%	0.00x	1.15x	CA$-32.35 Million
2022	-22.07%	0.00%	0.00x	1.19x	CA$-16.74 Million
2023	-99.58%	0.00%	0.00x	1.30x	CA$-30.95 Million
2024	-148.32%	0.00%	0.00x	1.29x	CA$-39.15 Million
2025	-189.17%	0.00%	0.00x	1.32x	CA$-35.61 Million

Industry Comparison

This section compares Cardiol Therapeutics Inc Class A's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $819,677,963
Average return on equity (ROE) among peers: -37.34%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Cardiol Therapeutics Inc Class A (CRDL)	CA$17.88 Million	-58.20%	0.32x	$148.65 Million
Aurora Cannabis Inc (ACB)	$601.87 Million	-11.52%	0.39x	$193.63 Million
Amotiv Limited (AOV)	$915.11 Million	1.59%	0.43x	$553.67 Million
Aequus Pharmaceuticals Inc (AQS)	$-4.29 Million	0.00%	0.00x	$479.73K
Avicanna Inc (AVCN)	$841.07K	-309.08%	1.52x	$13.17 Million
Avant Brands Inc (AVNT)	$-490.96K	0.00%	0.00x	$4.13 Million
Bausch Health Companies Inc (BHC)	$5.23 Billion	-16.55%	4.34x	$2.06 Billion
CanadaBis Capital Inc (CANB)	$150.00K	0.00%	0.00x	$1.53 Million
Cannabist Company Holdings Inc (CBST)	$550.08 Million	-25.79%	1.50x	$12.59 Million
Cipher Pharmaceuticals Inc (CPH)	$80.52 Million	25.31%	0.07x	$326.62 Million

About Cardiol Therapeutics Inc Class A

TO:CRDL Canada Drug Manufacturers - Specialty & Generic

Market Cap

$148.65 Million

CA$205.49 Million CAD

Market Cap Rank

#17675 Global

#569 in Canada

Share Price

CA$1.84

Change (1 day)

-1.08%

52-Week Range

CA$1.28 - CA$2.23

All Time High

CA$8.13