Income Financial Trust
Income Financial Trust is an open-ended equity mutual fund launched by Quadravest Inc. The fund is managed by Quadravest Capital Management Inc. It invests in the public equity markets of North America. The fund seeks to invest in stocks of companies operating in the financial services sector. It invests in stocks of companies that are included in the Toronto Stock Exchange Financial Services Ind… Read more
Income Financial Trust (INC-UN) - Net Assets
Latest net assets as of June 2025: CA$28.14 Million CAD
Based on the latest financial reports, Income Financial Trust (INC-UN) has net assets worth CA$28.14 Million CAD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$28.42 Million) and total liabilities (CA$271.82K). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$28.14 Million |
| % of Total Assets | 99.04% |
| Annual Growth Rate | -4.23% |
| 5-Year Change | 86.75% |
| 10-Year Change | 19.93% |
| Growth Volatility | 17.71 |
Income Financial Trust - Net Assets Trend (2008–2024)
This chart illustrates how Income Financial Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Income Financial Trust (2008–2024)
The table below shows the annual net assets of Income Financial Trust from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$29.21 Million | +25.14% |
| 2023-12-31 | CA$23.34 Million | -4.38% |
| 2022-12-31 | CA$24.41 Million | +19.60% |
| 2021-12-31 | CA$20.41 Million | +30.49% |
| 2020-12-31 | CA$15.64 Million | -18.00% |
| 2019-12-31 | CA$19.08 Million | +7.53% |
| 2018-12-31 | CA$17.74 Million | -29.08% |
| 2017-12-31 | CA$25.02 Million | -6.78% |
| 2016-12-31 | CA$26.84 Million | +10.17% |
| 2015-12-31 | CA$24.36 Million | -7.73% |
| 2014-12-31 | CA$26.40 Million | -0.39% |
| 2013-12-31 | CA$26.50 Million | +5.56% |
| 2012-12-31 | CA$25.11 Million | -4.32% |
| 2011-12-31 | CA$26.24 Million | -29.40% |
| 2010-12-31 | CA$37.17 Million | -20.35% |
| 2009-12-31 | CA$46.66 Million | -20.04% |
| 2008-12-31 | CA$58.36 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Income Financial Trust'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 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$29.21 Million | 100.00% |
| Total Equity | CA$29.21 Million | 100.00% |
Income Financial Trust Competitors by Market Cap
The table below lists competitors of Income Financial Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
NCR CORP - Dusseldorf Stock Exchang
DU:NCR1
|
$56.15K |
|
IPE Universal Inc
PINK:IPEU
|
$56.18K |
|
QV KOSPI Vol Matching Strangle
KO:550057
|
$56.20K |
|
ALLOT COMMUN (AG6.SG)
STU:AG6
|
$56.27K |
|
Lark Distilling Co. Ltd
PINK:LRKKF
|
$56.08K |
|
POLAR CAP HLDS
BE:XZF
|
$56.05K |
|
YANGTZE OPTICAL FIBRE AND
BE:1YO
|
$55.98K |
|
Edel AG
HM:EDL
|
$55.96K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Income Financial Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 23,344,768 to 29,214,503, a change of 5,869,735 (25.1%).
- Net income of 8,419,994 contributed positively to equity growth.
- Dividend payments of 2,567,639 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$8.42 Million | +28.82% |
| Dividends Paid | CA$2.57 Million | -8.79% |
| Other Changes | CA$17.38K | +0.06% |
| Total Change | CA$- | 25.14% |
Book Value vs Market Value Analysis
This analysis compares Income Financial Trust'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: 0.95x
- 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 increased from 0.83x to 0.95x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | CA$9.95 | CA$8.25 | x |
| 2009-12-31 | CA$10.21 | CA$8.25 | x |
| 2010-12-31 | CA$9.89 | CA$8.25 | x |
| 2011-12-31 | CA$7.93 | CA$8.25 | x |
| 2012-12-31 | CA$8.49 | CA$8.25 | x |
| 2013-12-31 | CA$10.61 | CA$8.25 | x |
| 2014-12-31 | CA$11.59 | CA$8.25 | x |
| 2015-12-31 | CA$10.44 | CA$8.25 | x |
| 2016-12-31 | CA$11.55 | CA$8.25 | x |
| 2017-12-31 | CA$10.77 | CA$8.25 | x |
| 2018-12-31 | CA$7.64 | CA$8.25 | x |
| 2019-12-31 | CA$8.21 | CA$8.25 | x |
| 2020-12-31 | CA$6.87 | CA$8.25 | x |
| 2021-12-31 | CA$8.81 | CA$8.25 | x |
| 2022-12-31 | CA$8.16 | CA$8.25 | x |
| 2023-12-31 | CA$7.01 | CA$8.25 | x |
| 2024-12-31 | CA$8.71 | CA$8.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Income Financial Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 28.82%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 476.18%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.01x
- Recent ROE (28.82%) is above the historical average (3.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -85.48% | -1426.17% | 0.06x | 1.01x | CA$-55.73 Million |
| 2009 | 20.69% | 619.18% | 0.03x | 1.01x | CA$4.99 Million |
| 2010 | 9.72% | 386.35% | 0.02x | 1.01x | CA$-102.65K |
| 2011 | -13.00% | -411.14% | 0.03x | 1.01x | CA$-6.04 Million |
| 2012 | 16.95% | 94.98% | 0.18x | 1.01x | CA$1.75 Million |
| 2013 | 30.49% | 96.82% | 0.31x | 1.01x | CA$5.43 Million |
| 2014 | 10.29% | 90.77% | 0.11x | 1.01x | CA$76.79K |
| 2015 | 5.18% | 81.35% | 0.06x | 1.01x | CA$-1.17 Million |
| 2016 | 19.78% | 95.41% | 0.20x | 1.01x | CA$2.62 Million |
| 2017 | 8.45% | 88.55% | 0.09x | 1.02x | CA$-387.40K |
| 2018 | -21.09% | 0.00% | -0.19x | 1.02x | CA$-5.52 Million |
| 2019 | 19.38% | 93.54% | 0.20x | 1.01x | CA$1.79 Million |
| 2020 | -9.05% | -117.19% | 0.08x | 1.01x | CA$-2.98 Million |
| 2021 | 19.88% | 404.55% | 0.05x | 1.02x | CA$2.01 Million |
| 2022 | -6.07% | -136.66% | 0.04x | 1.02x | CA$-3.91 Million |
| 2023 | 4.79% | 69.53% | 0.07x | 1.02x | CA$-1.22 Million |
| 2024 | 28.82% | 476.18% | 0.06x | 1.01x | CA$5.50 Million |
Industry Comparison
This section compares Income Financial Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $553,432,196
- Average return on equity (ROE) among peers: 13.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Income Financial Trust (INC-UN) | CA$28.14 Million | -85.48% | 0.01x | $56.09K |
| Alaris Equity Partners Income Trust (AD-UN) | $85.30 Million | -3.58% | 0.75x | $618.10 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $10.88 Million | 16.52% | 0.04x | $5.48 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $79.24 Million | 4.56% | 0.33x | $44.44K |
| Bankers Petroleum Ltd (BNK) | $14.62 Million | 13.48% | 0.95x | $107.89K |
| Sprott Physical Gold and Silver Trust (CEF) | $4.00 Billion | 0.12% | 0.00x | $436.07K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $31.07 Million | 31.42% | 0.16x | $47.30 Million |
| Clairvest Group Inc. (CVG) | $837.41 Million | 8.30% | 0.13x | $159.95 Million |
| Dividend Growth Split Corp (DGS) | $85.05 Million | 29.48% | 1.17x | $54.58K |
| E Split Corp Class A (ENS) | $380.38 Million | 39.71% | 0.67x | $113.44K |