MDA Ltd (MDA) - Net Assets
Based on the latest financial reports, MDA Ltd (MDA) has net assets worth CA$1.85 Billion CAD (≈ $1.34 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$3.80 Billion ≈ $2.75 Billion USD) and total liabilities (CA$1.95 Billion ≈ $1.41 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 MDA intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.85 Billion |
| % of Total Assets | 48.64% |
| Annual Growth Rate | 24.26% |
| 5-Year Change | 40.9% |
| 10-Year Change | N/A |
| Growth Volatility | 40.67 |
MDA Ltd - Net Assets Trend (2020–2025)
This chart illustrates how MDA Ltd's net assets have evolved over time, based on quarterly financial data. See MDA Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for MDA Ltd (2020–2025)
The table below shows the annual net assets of MDA Ltd from 2020 to 2025. For live valuation and market cap data, see MDA market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$1.35 Billion ≈ $980.19 Million |
+15.22% |
| 2024-12-31 | CA$1.18 Billion ≈ $850.70 Million |
+10.45% |
| 2023-12-31 | CA$1.06 Billion ≈ $770.19 Million |
+6.41% |
| 2022-12-31 | CA$1.00 Billion ≈ $723.82 Million |
+4.04% |
| 2021-12-31 | CA$961.70 Million ≈ $695.68 Million |
+110.25% |
| 2020-12-31 | CA$457.40 Million ≈ $330.88 Million |
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Equity Component Analysis
This analysis shows how different components contribute to MDA 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 26450000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$247.20 Million | 18.24% |
| Common Stock | CA$1.04 Billion | 76.95% |
| Other Comprehensive Income | CA$29.10 Million | 2.15% |
| Other Components | CA$36.00 Million | 2.66% |
| Total Equity | CA$1.35 Billion | 100.00% |
MDA Ltd Competitors by Market Cap
The table below lists competitors of MDA Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rail Vikas Nigam Limited
NSE:RVNL
|
$5.58 Billion |
|
Hyundai Motor Co Pref
KO:005387
|
$5.58 Billion |
|
Parsons Corp
NYSE:PSN
|
$5.59 Billion |
|
Home BancShares Inc
NYSE:HOMB
|
$5.59 Billion |
|
Jl Mag Rare-Earth Co Ltd Class A
SHE:300748
|
$5.58 Billion |
|
Randstad NV
AS:RAND
|
$5.58 Billion |
|
Ferrotec (Anhui) Technology Development Co. Ltd. A
SHE:301297
|
$5.58 Billion |
|
UPL Limited
NSE:UPL
|
$5.58 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MDA Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,176,000,000 to 1,355,000,000, a change of 179,000,000 (15.2%).
- Net income of 108,500,000 contributed positively to equity growth.
- Share repurchases of 50,000,000 reduced equity.
- Other comprehensive income increased equity by 5,600,000.
- Other factors increased equity by 114,900,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$108.50 Million | +8.01% |
| Share Repurchases | CA$50.00 Million | -3.69% |
| Other Comprehensive Income | CA$5.60 Million | +0.41% |
| Other Changes | CA$114.90 Million | +8.48% |
| Total Change | CA$- | 15.22% |
Book Value vs Market Value Analysis
This analysis compares MDA 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: 5.32x
- 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 14.32x to 5.32x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | CA$3.88 | CA$55.61 | x |
| 2021-12-31 | CA$8.10 | CA$55.61 | x |
| 2022-12-31 | CA$8.17 | CA$55.61 | x |
| 2023-12-31 | CA$8.79 | CA$55.61 | x |
| 2024-12-31 | CA$9.33 | CA$55.61 | x |
| 2025-12-31 | CA$10.45 | CA$55.61 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MDA Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.01%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.64%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 2.48x
- Recent ROE (8.01%) is above the historical average (2.87%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -5.04% | -5.85% | 0.27x | 3.18x | CA$-68.81 Million |
| 2021 | 0.30% | 0.61% | 0.31x | 1.60x | CA$-93.27 Million |
| 2022 | 2.63% | 4.10% | 0.37x | 1.75x | CA$-73.76 Million |
| 2023 | 4.58% | 6.04% | 0.37x | 2.03x | CA$-57.67 Million |
| 2024 | 6.75% | 7.35% | 0.42x | 2.21x | CA$-38.20 Million |
| 2025 | 8.01% | 6.64% | 0.49x | 2.48x | CA$-27.00 Million |
Industry Comparison
This section compares MDA Ltd's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $-28,056,551
- Average return on equity (ROE) among peers: -20.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MDA Ltd (MDA) | CA$1.85 Billion | -5.04% | 1.06x | $5.58 Billion |
| Bombardier Inc (BBD-A) | $1.99 Billion | 14.54% | 2.66x | $2.65 Billion |
| Bombardier Inc Series B (BBD-B) | $-4.63 Billion | 0.00% | 0.00x | $18.88 Billion |
| CAE Inc. (CAE) | $2.37 Billion | 14.62% | 1.42x | $8.24 Billion |
| Volatus Aerospace Inc (FLT) | $1.52 Million | -32.87% | 0.05x | $421.78 Million |
| Firan Technology Group Corporation (FTG) | $47.76 Million | 12.68% | 0.54x | $387.69 Million |
| Kwesst Micro Systems Inc (KWE) | $6.12 Million | -152.12% | 0.42x | $1.92 Million |
| Magellan Aerospace Corporation (MAL) | $18.60 Million | -1.08% | 1.73x | $1.31 Billion |
About MDA Ltd
MDA Space Ltd. provides space technology solutions and services in Canada, the United States, Europe, Asia, the Middle East, and internationally. It offers satellite communications solutions, such as space-based broadband Internet, direct-to-device satellite communication, and IoT connectivity; MDA AURORA, a software-defined digital satellite product line; and autonomous robotics systems and serv… Read more