Life & Banc Split Corp
Life & Banc Split Corp. is a closed-ended equity mutual fund launched and managed by Brompton Funds Limited. The fund invests in the public equity markets of Canada. It seeks to invest in stocks of companies operating across banking and life insurance sector. The fund primarily invests in the stocks of the six largest banks of the country, as well as of life insurance companies, utilizing a split… Read more
Life & Banc Split Corp (LBS) - Net Assets
Latest net assets as of June 2025: CA$500.67 Million CAD
Based on the latest financial reports, Life & Banc Split Corp (LBS) has net assets worth CA$500.67 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$984.75 Million) and total liabilities (CA$484.07 Million). 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$500.67 Million |
| % of Total Assets | 50.84% |
| Annual Growth Rate | 5.05% |
| 5-Year Change | 162.85% |
| 10-Year Change | 234.07% |
| Growth Volatility | 42.42 |
Life & Banc Split Corp - Net Assets Trend (2006–2024)
This chart illustrates how Life & Banc Split Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Life & Banc Split Corp (2006–2024)
The table below shows the annual net assets of Life & Banc Split Corp from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$457.59 Million | +47.75% |
| 2023-12-31 | CA$309.70 Million | +25.25% |
| 2022-12-31 | CA$247.27 Million | -17.84% |
| 2021-12-31 | CA$300.96 Million | +72.88% |
| 2020-12-31 | CA$174.09 Million | -19.79% |
| 2019-12-31 | CA$217.03 Million | +41.78% |
| 2018-12-31 | CA$153.08 Million | -31.41% |
| 2017-12-31 | CA$223.16 Million | +24.82% |
| 2016-12-31 | CA$178.79 Million | +30.53% |
| 2015-12-31 | CA$136.97 Million | -5.76% |
| 2014-12-31 | CA$145.34 Million | +3.19% |
| 2013-12-31 | CA$140.86 Million | +64.64% |
| 2012-12-31 | CA$85.55 Million | +25.91% |
| 2011-12-31 | CA$67.95 Million | -22.53% |
| 2010-12-31 | CA$87.70 Million | -0.92% |
| 2009-12-31 | CA$88.52 Million | +108.77% |
| 2008-12-31 | CA$42.40 Million | -72.10% |
| 2007-12-31 | CA$151.98 Million | -19.45% |
| 2006-12-31 | CA$188.66 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Life & Banc Split Corp'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 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$457.59 Million | 100.00% |
| Total Equity | CA$457.59 Million | 100.00% |
Life & Banc Split Corp Competitors by Market Cap
The table below lists competitors of Life & Banc Split Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
TAKYX
NMFQS:TAKYX
|
$77.57K |
|
HARMONIC (HMC.SG)
STU:HMC
|
$77.67K |
|
KEPPEL (KEP1.SG)
STU:KEP1
|
$77.78K |
|
Barr (A G) PLC
STU:AF72
|
$77.87K |
|
Biostem Technologies Inc
OTCQB:BSEM
|
$77.55K |
|
BIYT39
SA:BIYT39
|
$77.55K |
|
Millennium Food-Tech LP
TA:MIFT
|
$77.45K |
|
PARROT (P2W.SG)
STU:P2W
|
$77.44K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Life & Banc Split Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 309,704,805 to 457,587,090, a change of 147,882,285 (47.7%).
- Net income of 165,351,092 contributed positively to equity growth.
- Dividend payments of 53,099,444 reduced retained earnings.
- Share repurchases of 11,456,082 reduced equity.
- New share issuances of 100,619,194 increased equity.
- Other factors decreased equity by 53,532,475.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$165.35 Million | +36.14% |
| Dividends Paid | CA$53.10 Million | -11.6% |
| Share Repurchases | CA$11.46 Million | -2.5% |
| Share Issuances | CA$100.62 Million | +21.99% |
| Other Changes | CA$-53.53 Million | -11.7% |
| Total Change | CA$- | 47.75% |
Book Value vs Market Value Analysis
This analysis compares Life & Banc Split Corp'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: 1.12x
- 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 0.73x to 1.12x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | CA$15.81 | CA$11.54 | x |
| 2007-12-31 | CA$12.73 | CA$11.54 | x |
| 2008-12-31 | CA$3.73 | CA$11.54 | x |
| 2009-12-31 | CA$8.18 | CA$11.54 | x |
| 2010-12-31 | CA$8.63 | CA$11.54 | x |
| 2011-12-31 | CA$5.25 | CA$11.54 | x |
| 2012-12-31 | CA$6.27 | CA$11.54 | x |
| 2013-12-31 | CA$10.24 | CA$11.54 | x |
| 2014-12-31 | CA$9.58 | CA$11.54 | x |
| 2015-12-31 | CA$8.04 | CA$11.54 | x |
| 2016-12-31 | CA$9.74 | CA$11.54 | x |
| 2017-12-31 | CA$11.53 | CA$11.54 | x |
| 2018-12-31 | CA$5.68 | CA$11.54 | x |
| 2019-12-31 | CA$8.06 | CA$11.54 | x |
| 2020-12-31 | CA$6.39 | CA$11.54 | x |
| 2021-12-31 | CA$10.15 | CA$11.54 | x |
| 2022-12-31 | CA$7.49 | CA$11.54 | x |
| 2023-12-31 | CA$7.94 | CA$11.54 | x |
| 2024-12-31 | CA$10.30 | CA$11.54 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Life & Banc Split Corp 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): 36.14%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 409.65%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 2.05x
- Recent ROE (36.14%) is above the historical average (4.03%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 14.20% | 1358.81% | 0.01x | 1.65x | CA$7.93 Million |
| 2007 | -8.71% | -141.72% | 0.03x | 1.78x | CA$-28.43 Million |
| 2008 | -227.51% | -1021.68% | 0.06x | 3.70x | CA$-100.71 Million |
| 2009 | 76.90% | 756.49% | 0.05x | 2.17x | CA$59.22 Million |
| 2010 | 16.59% | 191.61% | 0.04x | 2.23x | CA$5.78 Million |
| 2011 | -41.78% | -307.47% | 0.04x | 3.05x | CA$-35.18 Million |
| 2012 | 43.31% | 98.25% | 0.17x | 2.64x | CA$28.50 Million |
| 2013 | 45.47% | 97.08% | 0.22x | 2.10x | CA$49.96 Million |
| 2014 | 20.57% | 97.24% | 0.10x | 2.07x | CA$15.36 Million |
| 2015 | -6.29% | 0.00% | -0.02x | 2.37x | CA$-22.32 Million |
| 2016 | 40.52% | 98.75% | 0.20x | 2.05x | CA$54.56 Million |
| 2017 | 18.19% | 94.24% | 0.09x | 2.04x | CA$18.29 Million |
| 2018 | -40.95% | 0.00% | -0.14x | 2.73x | CA$-78.00 Million |
| 2019 | 46.14% | 98.34% | 0.20x | 2.29x | CA$78.44 Million |
| 2020 | -8.08% | 0.00% | -0.03x | 2.58x | CA$-31.48 Million |
| 2021 | 51.89% | 99.08% | 0.26x | 2.02x | CA$126.08 Million |
| 2022 | -18.81% | 0.00% | -0.07x | 2.46x | CA$-71.23 Million |
| 2023 | 18.74% | 136.27% | 0.06x | 2.36x | CA$27.06 Million |
| 2024 | 36.14% | 409.65% | 0.04x | 2.05x | CA$119.59 Million |
Industry Comparison
This section compares Life & Banc Split Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $398,436,303
- Average return on equity (ROE) among peers: -4.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Life & Banc Split Corp (LBS) | CA$500.67 Million | 14.20% | 0.97x | $77.56K |
| Alaris Equity Partners Income Trust (AD-UN) | $604.54 Million | 1.97% | 0.32x | $616.42 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $4.27 Million | -129.03% | 0.20x | $5.48 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $354.64 Million | 11.23% | 0.49x | $48.58K |
| Bankers Petroleum Ltd (BNK) | $28.51 Million | 46.55% | 0.58x | $113.70K |
| Sprott Physical Gold and Silver Trust (CEF) | $1.20 Billion | -29.28% | 0.00x | $452.56K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $-59.00K | 0.00% | 0.00x | $51.82 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $159.95 Million |
| Dividend Growth Split Corp (DGS) | $296.85 Million | 37.60% | 1.53x | $52.33K |
| E Split Corp Class A (ENS) | $227.99 Million | 17.94% | 0.77x | $118.61K |