Freehold Royalties Ltd. (FRU) - Net Assets
Based on the latest financial reports, Freehold Royalties Ltd. (FRU) has net assets worth CA$1.03 Billion CAD (≈ $748.12 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$1.40 Billion ≈ $1.02 Billion USD) and total liabilities (CA$369.07 Million ≈ $266.98 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. Read FRU liabilities breakdown for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.03 Billion |
| % of Total Assets | 73.7% |
| Annual Growth Rate | 5.46% |
| 5-Year Change | 66.73% |
| 10-Year Change | 48.05% |
| Growth Volatility | 33.34 |
Freehold Royalties Ltd. - Net Assets Trend (1996–2024)
This chart illustrates how Freehold Royalties Ltd.'s net assets have evolved over time, based on quarterly financial data. Also explore Freehold Royalties Ltd. (FRU) total assets for the complete picture of this company's asset base.
Annual Net Assets for Freehold Royalties Ltd. (1996–2024)
The table below shows the annual net assets of Freehold Royalties Ltd. from 1996 to 2024. For live valuation and market cap data, see Freehold Royalties Ltd. stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$1.10 Billion ≈ $795.33 Million |
+19.02% |
| 2023-12-31 | CA$923.76 Million ≈ $668.24 Million |
-3.81% |
| 2022-12-31 | CA$960.34 Million ≈ $694.70 Million |
+7.79% |
| 2021-12-31 | CA$890.97 Million ≈ $644.51 Million |
+35.11% |
| 2020-12-31 | CA$659.44 Million ≈ $477.03 Million |
-6.79% |
| 2019-12-31 | CA$707.48 Million ≈ $511.78 Million |
-8.67% |
| 2018-12-31 | CA$774.62 Million ≈ $560.34 Million |
-6.85% |
| 2017-12-31 | CA$831.59 Million ≈ $601.56 Million |
-6.00% |
| 2016-12-31 | CA$884.70 Million ≈ $639.98 Million |
+19.13% |
| 2015-12-31 | CA$742.62 Million ≈ $537.20 Million |
+76.45% |
| 2014-12-31 | CA$420.87 Million ≈ $304.45 Million |
+43.12% |
| 2013-12-31 | CA$294.07 Million ≈ $212.73 Million |
-6.88% |
| 2012-12-31 | CA$315.81 Million ≈ $228.46 Million |
+15.69% |
| 2011-12-31 | CA$272.97 Million ≈ $197.46 Million |
+2.56% |
| 2010-12-31 | CA$266.17 Million ≈ $192.54 Million |
-10.97% |
| 2009-12-31 | CA$298.97 Million ≈ $216.27 Million |
+35.89% |
| 2008-12-31 | CA$220.00 Million ≈ $159.15 Million |
-12.39% |
| 2007-12-31 | CA$251.11 Million ≈ $181.65 Million |
-27.10% |
| 2006-12-31 | CA$344.45 Million ≈ $249.17 Million |
-13.77% |
| 2005-12-31 | CA$399.47 Million ≈ $288.97 Million |
+142.37% |
| 2004-12-31 | CA$164.82 Million ≈ $119.23 Million |
-8.98% |
| 2003-12-31 | CA$181.09 Million ≈ $131.00 Million |
-2.37% |
| 2002-12-31 | CA$185.48 Million ≈ $134.17 Million |
-5.58% |
| 2001-12-31 | CA$196.44 Million ≈ $142.10 Million |
+7.33% |
| 2000-12-31 | CA$183.03 Million ≈ $132.40 Million |
-1.56% |
| 1999-12-31 | CA$185.94 Million ≈ $134.50 Million |
-5.84% |
| 1998-12-31 | CA$197.47 Million ≈ $142.85 Million |
-11.57% |
| 1997-12-31 | CA$223.30 Million ≈ $161.53 Million |
-10.13% |
| 1996-12-31 | CA$248.46 Million ≈ $179.73 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Freehold Royalties 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 decreased by 59300338400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$1.67 Billion | 151.69% |
| Other Comprehensive Income | CA$27.13 Million | 2.47% |
| Total Equity | CA$1.10 Billion | 100.00% |
Freehold Royalties Ltd. Competitors by Market Cap
The table below lists competitors of Freehold Royalties Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
The Baldwin Insurance Group, Inc.
NASDAQ:BWIN
|
$2.12 Billion |
|
Natco Pharma Limited
NSE:NATCOPHARM
|
$2.12 Billion |
|
Theon International Plc
AS:THEON
|
$2.12 Billion |
|
Avadel Pharmaceuticals PLC
NASDAQ:AVDL
|
$2.12 Billion |
|
IJM Corporation Bhd
KLSE:3336
|
$2.12 Billion |
|
Wuxi Best Precision Machinery Co Ltd
SHE:300580
|
$2.12 Billion |
|
Beijing Fuxing Xiaocheng Electronic Technology Co Ltd
SHE:300139
|
$2.12 Billion |
|
Danaos Corporation
NYSE:DAC
|
$2.12 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Freehold Royalties Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 923,763,000 to 1,099,451,000, a change of 175,688,000 (19.0%).
- Net income of 149,446,000 contributed positively to equity growth.
- Dividend payments of 162,745,000 reduced retained earnings.
- Share repurchases of 165,480,000 reduced equity.
- Other comprehensive income increased equity by 23,017,000.
- Other factors increased equity by 331,450,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$149.45 Million | +13.59% |
| Dividends Paid | CA$162.75 Million | -14.8% |
| Share Repurchases | CA$165.48 Million | -15.05% |
| Other Comprehensive Income | CA$23.02 Million | +2.09% |
| Other Changes | CA$331.45 Million | +30.15% |
| Total Change | CA$- | 19.02% |
Book Value vs Market Value Analysis
This analysis compares Freehold Royalties 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: 2.47x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.90x to 2.47x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$9.40 | CA$17.89 | x |
| 1997-12-31 | CA$8.44 | CA$17.89 | x |
| 1998-12-31 | CA$7.44 | CA$17.89 | x |
| 1999-12-31 | CA$6.99 | CA$17.89 | x |
| 2000-12-31 | CA$6.85 | CA$17.89 | x |
| 2001-12-31 | CA$6.53 | CA$17.89 | x |
| 2002-12-31 | CA$6.13 | CA$17.89 | x |
| 2003-12-31 | CA$5.82 | CA$17.89 | x |
| 2004-12-31 | CA$5.23 | CA$17.89 | x |
| 2005-12-31 | CA$9.33 | CA$17.89 | x |
| 2006-12-31 | CA$7.02 | CA$17.89 | x |
| 2007-12-31 | CA$5.10 | CA$17.89 | x |
| 2008-12-31 | CA$4.45 | CA$17.89 | x |
| 2009-12-31 | CA$5.97 | CA$17.89 | x |
| 2010-12-31 | CA$4.56 | CA$17.89 | x |
| 2011-12-31 | CA$4.54 | CA$17.89 | x |
| 2012-12-31 | CA$4.86 | CA$17.89 | x |
| 2013-12-31 | CA$4.39 | CA$17.89 | x |
| 2014-12-31 | CA$5.91 | CA$17.89 | x |
| 2015-12-31 | CA$8.21 | CA$17.89 | x |
| 2016-12-31 | CA$8.01 | CA$17.89 | x |
| 2017-12-31 | CA$7.04 | CA$17.89 | x |
| 2018-12-31 | CA$6.54 | CA$17.89 | x |
| 2019-12-31 | CA$5.96 | CA$17.89 | x |
| 2020-12-31 | CA$5.56 | CA$17.89 | x |
| 2021-12-31 | CA$6.51 | CA$17.89 | x |
| 2022-12-31 | CA$6.37 | CA$17.89 | x |
| 2023-12-31 | CA$6.11 | CA$17.89 | x |
| 2024-12-31 | CA$7.23 | CA$17.89 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Freehold Royalties Ltd. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.59%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 48.29%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 1.35x
- Recent ROE (13.59%) is above the historical average (11.05%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | 0.43% | 26.54% | 0.02x | 1.06x | CA$-23.79 Million |
| 1997 | 1.38% | 8.07% | 0.14x | 1.22x | CA$-19.25 Million |
| 1998 | -4.65% | -38.74% | 0.10x | 1.25x | CA$-28.94 Million |
| 1999 | 4.72% | 24.90% | 0.15x | 1.25x | CA$-9.81 Million |
| 2000 | 17.32% | 51.79% | 0.27x | 1.24x | CA$13.39 Million |
| 2001 | 13.90% | 46.74% | 0.25x | 1.20x | CA$7.65 Million |
| 2002 | 14.86% | 45.60% | 0.27x | 1.21x | CA$9.01 Million |
| 2003 | 20.45% | 50.61% | 0.35x | 1.16x | CA$18.92 Million |
| 2004 | 22.38% | 47.00% | 0.38x | 1.26x | CA$20.41 Million |
| 2005 | 14.61% | 42.62% | 0.26x | 1.34x | CA$18.40 Million |
| 2006 | 13.12% | 31.58% | 0.30x | 1.38x | CA$10.74 Million |
| 2007 | -0.47% | -0.78% | 0.30x | 2.01x | CA$-26.30 Million |
| 2008 | 49.98% | 53.87% | 0.45x | 2.06x | CA$87.96 Million |
| 2009 | 10.62% | 26.46% | 0.29x | 1.40x | CA$1.84 Million |
| 2010 | 13.63% | 26.26% | 0.34x | 1.53x | CA$9.66 Million |
| 2011 | 20.24% | 34.99% | 0.37x | 1.55x | CA$27.96 Million |
| 2012 | 14.67% | 27.55% | 0.38x | 1.42x | CA$14.75 Million |
| 2013 | 19.67% | 31.86% | 0.42x | 1.45x | CA$28.44 Million |
| 2014 | 15.79% | 33.25% | 0.31x | 1.55x | CA$24.36 Million |
| 2015 | -0.55% | -3.01% | 0.14x | 1.26x | CA$-78.34 Million |
| 2016 | -1.26% | -8.59% | 0.13x | 1.14x | CA$-99.63 Million |
| 2017 | 1.47% | 8.04% | 0.16x | 1.15x | CA$-70.94 Million |
| 2018 | 1.81% | 9.66% | 0.16x | 1.15x | CA$-63.43 Million |
| 2019 | 0.73% | 3.69% | 0.17x | 1.19x | CA$-65.55 Million |
| 2020 | -2.11% | -15.49% | 0.11x | 1.26x | CA$-79.87 Million |
| 2021 | 8.09% | 34.96% | 0.19x | 1.20x | CA$-17.01 Million |
| 2022 | 21.78% | 53.23% | 0.32x | 1.26x | CA$113.15 Million |
| 2023 | 14.28% | 41.93% | 0.28x | 1.21x | CA$39.53 Million |
| 2024 | 13.59% | 48.29% | 0.21x | 1.35x | CA$39.50 Million |
Industry Comparison
This section compares Freehold Royalties Ltd.'s net assets metrics with peer companies in the Oil & Gas E&P industry.
Industry Context
- Industry: Oil & Gas E&P
- Average net assets among peers: $642,696,496
- Average return on equity (ROE) among peers: -12.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Freehold Royalties Ltd. (FRU) | CA$1.03 Billion | 0.43% | 0.36x | $2.12 Billion |
| Advantage Oil & Gas Ltd. (AAV) | $1.27 Billion | -1.67% | 1.21x | $1.22 Billion |
| Africa Energy Corp (AFE) | $189.46K | 0.00% | 0.21x | $71.06 Million |
| Alvopetro Energy (ALV) | $60.57 Million | -7.17% | 0.08x | $230.37 Million |
| Africa Oil Corp (AOI) | $929.85 Million | -5.66% | 0.06x | $820.85 Million |
| Altima Resources Ltd (ARH) | $18.57 Million | -6.97% | 0.60x | $19.37 Million |
| ARC Resources Ltd. (ARX) | $3.16 Billion | 9.08% | 0.68x | $13.26 Billion |
| Athabasca Oil Corp (ATH) | $965.95 Million | -58.97% | 0.89x | $4.13 Billion |
| Altai Resources Inc. (ATI) | $4.45 Million | -2.56% | 0.07x | $1.42 Million |
| Avanti Energy Inc (AVN) | $159.53K | -53.64% | 0.35x | $24.04 Million |
| Arrow Exploration Corp (AXL) | $10.89 Million | -0.55% | 0.12x | $84.78 Million |
About Freehold Royalties Ltd.
Freehold Royalties Ltd. acquires and manages royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Canada and the United States. The company was founded in 1996 and is headquartered in Calgary, Canada.