Hydro One Ltd (H) - Net Assets

Latest as of December 2025: CA$12.75 Billion CAD ≈ $9.22 Billion USD

Based on the latest financial reports, Hydro One Ltd (H) has net assets worth CA$12.75 Billion CAD (≈ $9.22 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$39.67 Billion ≈ $28.70 Billion USD) and total liabilities (CA$26.93 Billion ≈ $19.48 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 H asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$12.75 Billion
% of Total Assets	32.13%
Annual Growth Rate	5.1%
5-Year Change	16.13%
10-Year Change	26.34%
Growth Volatility	5.65

Hydro One Ltd - Net Assets Trend (2005–2025)

This chart illustrates how Hydro One Ltd's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Hydro One Ltd for the complete picture of this company's asset base.

Annual Net Assets for Hydro One Ltd (2005–2025)

The table below shows the annual net assets of Hydro One Ltd from 2005 to 2025. For live valuation and market cap data, see Hydro One Ltd (H) market capitalisation.

Year	Net Assets	Change
2025-12-31	CA$12.75 Billion ≈ $9.22 Billion	+4.71%
2024-12-31	CA$12.17 Billion ≈ $8.81 Billion	+3.47%
2023-12-31	CA$11.77 Billion ≈ $8.51 Billion	+3.27%
2022-12-31	CA$11.39 Billion ≈ $8.24 Billion	+3.79%
2021-12-31	CA$10.98 Billion ≈ $7.94 Billion	+3.27%
2020-12-31	CA$10.63 Billion ≈ $7.69 Billion	+7.69%
2019-12-31	CA$9.87 Billion ≈ $7.14 Billion	+2.34%
2018-12-31	CA$9.64 Billion ≈ $6.98 Billion	-5.95%
2017-12-31	CA$10.25 Billion ≈ $7.42 Billion	+1.63%
2016-12-31	CA$10.09 Billion ≈ $7.30 Billion	+1.66%
2015-12-31	CA$9.92 Billion ≈ $7.18 Billion	+24.88%
2014-12-31	CA$7.95 Billion ≈ $5.75 Billion	+7.17%
2013-12-31	CA$7.42 Billion ≈ $5.36 Billion	+8.57%
2012-12-31	CA$6.83 Billion ≈ $4.94 Billion	+5.83%
2011-12-31	CA$6.45 Billion ≈ $4.67 Billion	+7.91%
2010-12-31	CA$5.98 Billion ≈ $4.33 Billion	+10.39%
2009-12-31	CA$5.42 Billion ≈ $3.92 Billion	+5.74%
2008-12-31	CA$5.12 Billion ≈ $3.71 Billion	+4.87%
2007-12-31	CA$4.89 Billion ≈ $3.53 Billion	+1.35%
2006-12-31	CA$4.82 Billion ≈ $3.49 Billion	+2.23%
2005-12-31	CA$4.72 Billion ≈ $3.41 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Hydro One 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 540.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CA$6.91 Billion	54.64%
Common Stock	CA$5.72 Billion	45.23%
Other Comprehensive Income	CA$-9.00 Million	-0.07%
Other Components	CA$25.00 Million	0.20%
Total Equity	CA$12.65 Billion	100.00%

Hydro One Ltd Competitors by Market Cap

The table below lists competitors of Hydro One Ltd ranked by their market capitalization.

Company	Market Cap
ORSTED UNSP.ADR 1/3 DK 10 F:D2G1	$25.36 Billion
Sika AG SW:SIKA	$25.37 Billion
Inner Mongolia Yili Industrial Group Co Ltd SHG:600887	$25.42 Billion
Credicorp Ltd NYSE:BAP	$25.55 Billion
STMicroelectronics N.V XETRA:SGM	$25.33 Billion
Sany Heavy Industry Co Ltd SHG:600031	$25.24 Billion
Cincinnati Financial Corporation NASDAQ:CINF	$25.23 Billion
Dollar General Corporation NYSE:DG	$25.19 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 12,089,000,000 to 12,648,000,000, a change of 559,000,000 (4.6%).
Net income of 1,339,000,000 contributed positively to equity growth.
Dividend payments of 788,000,000 reduced retained earnings.
Other comprehensive income increased equity by 3,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$1.34 Billion	+10.59%
Dividends Paid	CA$788.00 Million	-6.23%
Other Comprehensive Income	CA$3.00 Million	+0.02%
Other Changes	CA$5.00 Million	+0.04%
Total Change	CA$-	4.62%

Book Value vs Market Value Analysis

This analysis compares Hydro One 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: 2.77x
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 7.37x to 2.77x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	CA$7.93	CA$58.41	x
2006-12-31	CA$8.10	CA$58.41	x
2007-12-31	CA$8.21	CA$58.41	x
2008-12-31	CA$8.61	CA$58.41	x
2009-12-31	CA$54180.00	CA$58.41	x
2010-12-31	CA$59810.00	CA$58.41	x
2011-12-31	CA$64540.00	CA$58.41	x
2012-12-31	CA$68300.00	CA$58.41	x
2013-12-31	CA$12.46	CA$58.41	x
2014-12-31	CA$16.48	CA$58.41	x
2015-12-31	CA$19.84	CA$58.41	x
2016-12-31	CA$16.79	CA$58.41	x
2017-12-31	CA$17.04	CA$58.41	x
2018-12-31	CA$16.01	CA$58.41	x
2019-12-31	CA$16.35	CA$58.41	x
2020-12-31	CA$17.56	CA$58.41	x
2021-12-31	CA$18.14	CA$58.41	x
2022-12-31	CA$18.82	CA$58.41	x
2023-12-31	CA$19.45	CA$58.41	x
2024-12-31	CA$20.13	CA$58.41	x
2025-12-31	CA$21.05	CA$58.41	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Hydro One 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): 10.59%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 14.81%
• Asset Turnover: 0.23x
• Equity Multiplier: 3.14x
Recent ROE (10.59%) is above the historical average (9.50%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	10.24%	10.94%	0.37x	2.51x	CA$11.40 Million
2006	9.44%	10.01%	0.37x	2.54x	CA$-27.10 Million
2007	8.17%	8.57%	0.36x	2.62x	CA$-89.60 Million
2008	9.72%	10.83%	0.33x	2.71x	CA$-14.40 Million
2009	8.67%	9.91%	0.30x	2.92x	CA$-71.80 Million
2010	9.88%	11.53%	0.30x	2.90x	CA$-7.10 Million
2011	9.93%	11.72%	0.30x	2.85x	CA$-4.40 Million
2012	10.91%	13.01%	0.28x	3.05x	CA$62.00 Million
2013	10.83%	13.22%	0.28x	2.92x	CA$61.50 Million
2014	9.51%	11.44%	0.29x	2.86x	CA$-38.70 Million
2015	7.14%	10.75%	0.27x	2.47x	CA$-281.90 Million
2016	7.39%	11.29%	0.26x	2.53x	CA$-261.70 Million
2017	6.64%	11.29%	0.23x	2.52x	CA$-342.10 Million
2018	8.32%	12.94%	0.24x	2.68x	CA$-161.30 Million
2019	8.13%	12.28%	0.24x	2.76x	CA$-183.00 Million
2020	16.97%	24.53%	0.24x	2.88x	CA$734.60 Million
2021	8.86%	13.36%	0.24x	2.79x	CA$-123.80 Million
2022	9.29%	13.50%	0.25x	2.78x	CA$-80.60 Million
2023	9.29%	13.83%	0.24x	2.81x	CA$-83.00 Million
2024	9.56%	13.63%	0.23x	3.03x	CA$-52.90 Million
2025	10.59%	14.81%	0.23x	3.14x	CA$74.20 Million

Industry Comparison

This section compares Hydro One Ltd's net assets metrics with peer companies in the Utilities - Regulated Electric industry.

Industry Context

Industry: Utilities - Regulated Electric
Average net assets among peers: $6,650,611,667
Average return on equity (ROE) among peers: 8.71%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Hydro One Ltd (H)	CA$12.75 Billion	10.24%	2.11x	$25.34 Billion
Caribbean Utilities Company Ltd (CUP-U)	$179.84 Million	11.57%	1.59x	$582.50 Million
Emera Inc. (EMA)	$13.40 Billion	8.13%	2.35x	$15.74 Billion
Fortis Inc (FTS)	$6.38 Billion	6.43%	1.81x	$28.63 Billion

About Hydro One Ltd

TO:H Canada Utilities - Regulated Electric

Market Cap

$25.34 Billion

CA$35.03 Billion CAD

Market Cap Rank

#1026 Global

#42 in Canada

Share Price

CA$58.41

Change (1 day)

+0.09%

52-Week Range

CA$47.89 - CA$60.17

All Time High

CA$60.17