Morguard Corporation

TO:MRC Canada Real Estate - Diversified
Market Cap
$853.21 Million
CA$1.23 Billion CAD
Market Cap Rank
#12725 Global
#45 in Canada
Share Price
CA$114.76
Change (1 day)
-0.60%
52-Week Range
CA$107.77 - CA$121.83
All Time High
CA$208.38
Categories
Companies in Canada Real Estate - Diversified
About

Morguard Corporation, a real estate investment and management company, engages in property ownership, development, and investment advisory services in Canada and the United States. It operates in four segments: Multi-Suite Residential, Retail, Office, and Hotel. The company offers real estate management and advisory services, including acquisitions, development, dispositions, leasing, performance… Read more

Morguard Corporation (MRC) - Net Assets

Latest net assets as of December 2025: CA$4.77 Billion CAD

Based on the latest financial reports, Morguard Corporation (MRC) has net assets worth CA$4.77 Billion CAD as of December 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$11.84 Billion) and total liabilities (CA$7.07 Billion). 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$4.77 Billion
% of Total Assets 40.27%
Annual Growth Rate 11.22%
5-Year Change 14.25%
10-Year Change 29.9%
Growth Volatility 39.45

Morguard Corporation - Net Assets Trend (1996–2025)

This chart illustrates how Morguard Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Morguard Corporation (1996–2025)

The table below shows the annual net assets of Morguard Corporation from 1996 to 2025.

Year Net Assets Change
2025-12-31 CA$4.77 Billion +1.05%
2024-12-31 CA$4.72 Billion +8.66%
2023-12-31 CA$4.34 Billion -0.97%
2022-12-31 CA$4.39 Billion +5.07%
2021-12-31 CA$4.17 Billion +6.67%
2020-12-31 CA$3.91 Billion -9.13%
2019-12-31 CA$4.31 Billion +1.82%
2018-12-31 CA$4.23 Billion +7.48%
2017-12-31 CA$3.93 Billion +7.17%
2016-12-31 CA$3.67 Billion +5.43%
2015-12-31 CA$3.48 Billion +3.67%
2014-12-31 CA$3.36 Billion +43.19%
2013-12-31 CA$2.35 Billion +14.43%
2012-12-31 CA$2.05 Billion +21.67%
2011-12-31 CA$1.68 Billion +201.80%
2010-12-31 CA$558.17 Million -1.38%
2009-12-31 CA$565.98 Million +1.63%
2008-12-31 CA$556.89 Million +10.74%
2007-12-31 CA$502.88 Million -3.61%
2006-12-31 CA$521.69 Million -20.99%
2005-12-31 CA$660.32 Million -20.19%
2004-12-31 CA$827.39 Million +0.59%
2003-12-31 CA$822.56 Million +6.52%
2002-12-31 CA$772.19 Million +15.10%
2001-12-31 CA$670.88 Million +6.39%
2000-12-31 CA$630.56 Million +8.03%
1999-12-31 CA$583.70 Million +59.13%
1998-12-31 CA$366.80 Million +6.16%
1997-12-31 CA$345.50 Million +58.41%
1996-12-31 CA$218.10 Million --

Equity Component Analysis

This analysis shows how different components contribute to Morguard Corporation'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 4772.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component Amount Percentage
Retained Earnings CA$3.96 Billion 90.21%
Common Stock CA$97.19 Million 2.22%
Other Comprehensive Income CA$332.05 Million 7.57%
Total Equity CA$4.39 Billion 100.00%

Morguard Corporation Competitors by Market Cap

The table below lists competitors of Morguard Corporation ranked by their market capitalization.

Company Market Cap
JPG
KLSE:5323
 		$306.40 Million
Beijing Kaiwen Education Technology Co Ltd
SHE:002659
 		$306.46 Million
Tianjin Pengling Rubber Hose Co Ltd
SHE:300375
 		$306.52 Million
Shanghai Kinlita Chemical Co
SHE:300225
 		$306.59 Million
NVE Corporation
NASDAQ:NVEC
 		$306.29 Million
Vietnam Construction and Import Export JSC
VN:VCG
 		$306.22 Million
Kolon Life Science Inc
KQ:102940
 		$306.22 Million
Tokmanni Group Oyj
HE:TOKMAN
 		$306.14 Million

Equity Growth Attribution

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

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 4,292,423,000 to 4,385,453,000, a change of 93,030,000 (2.2%).
  • Net income of 174,870,000 contributed positively to equity growth.
  • Dividend payments of 8,521,000 reduced retained earnings.
  • Share repurchases of 5,245,000 reduced equity.
  • Other comprehensive income decreased equity by 87,687,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income CA$174.87 Million +3.99%
Dividends Paid CA$8.52 Million -0.19%
Share Repurchases CA$5.25 Million -0.12%
Other Comprehensive Income CA$-87.69 Million -2.0%
Other Changes CA$19.61 Million +0.45%
Total Change CA$- 2.17%

Book Value vs Market Value Analysis

This analysis compares Morguard Corporation'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: 0.28x
  • 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 decreased from 9.56x to 0.28x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
1996-12-31 CA$12.01 CA$114.76 x
1997-12-31 CA$19.69 CA$114.76 x
1998-12-31 CA$21.36 CA$114.76 x
1999-12-31 CA$22.07 CA$114.76 x
2000-12-31 CA$24.67 CA$114.76 x
2001-12-31 CA$27.43 CA$114.76 x
2002-12-31 CA$24.86 CA$114.76 x
2003-12-31 CA$29.90 CA$114.76 x
2004-12-31 CA$31.09 CA$114.76 x
2005-12-31 CA$26.86 CA$114.76 x
2006-12-31 CA$29.53 CA$114.76 x
2007-12-31 CA$35.21 CA$114.76 x
2008-12-31 CA$39.87 CA$114.76 x
2009-12-31 CA$40.21 CA$114.76 x
2010-12-31 CA$41.07 CA$114.76 x
2011-12-31 CA$129.82 CA$114.76 x
2012-12-31 CA$159.42 CA$114.76 x
2013-12-31 CA$183.71 CA$114.76 x
2014-12-31 CA$199.55 CA$114.76 x
2015-12-31 CA$220.42 CA$114.76 x
2016-12-31 CA$239.71 CA$114.76 x
2017-12-31 CA$259.42 CA$114.76 x
2018-12-31 CA$300.00 CA$114.76 x
2019-12-31 CA$314.48 CA$114.76 x
2020-12-31 CA$300.97 CA$114.76 x
2021-12-31 CA$327.19 CA$114.76 x
2022-12-31 CA$348.88 CA$114.76 x
2023-12-31 CA$356.56 CA$114.76 x
2024-12-31 CA$397.23 CA$114.76 x
2025-12-31 CA$409.86 CA$114.76 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Morguard Corporation 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): 3.99%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 15.56%
  • • Asset Turnover: 0.09x
  • • Equity Multiplier: 2.70x
  • Recent ROE (3.99%) is below the historical average (7.78%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
1996 8.16% 2.31% 1.49x 2.38x CA$-4.01 Million
1997 40.12% 57.58% 0.52x 1.35x CA$104.05 Million
1998 4.96% 10.08% 0.23x 2.14x CA$-18.48 Million
1999 5.94% 22.70% 0.07x 3.85x CA$-15.66 Million
2000 9.73% 15.15% 0.16x 4.07x CA$-1.10 Million
2001 8.57% 11.32% 0.18x 4.14x CA$-6.08 Million
2002 6.71% 8.59% 0.16x 4.75x CA$-14.39 Million
2003 -0.47% -0.55% 0.16x 5.47x CA$-45.63 Million
2004 3.95% 4.52% 0.16x 5.45x CA$-26.88 Million
2005 4.65% 5.31% 0.16x 5.53x CA$-24.41 Million
2006 11.65% 15.01% 0.19x 4.01x CA$8.22 Million
2007 4.80% 7.31% 0.17x 3.94x CA$-25.81 Million
2008 9.13% 14.29% 0.17x 3.79x CA$-4.84 Million
2009 5.36% 8.69% 0.17x 3.63x CA$-26.17 Million
2010 8.00% 12.73% 0.17x 3.69x CA$-11.16 Million
2011 17.11% 76.32% 0.11x 2.06x CA$119.72 Million
2012 19.01% 98.61% 0.09x 2.14x CA$184.61 Million
2013 12.29% 56.74% 0.09x 2.34x CA$53.39 Million
2014 5.47% 24.79% 0.07x 3.20x CA$-113.16 Million
2015 2.99% 9.20% 0.10x 3.19x CA$-189.23 Million
2016 6.03% 18.87% 0.10x 3.35x CA$-113.54 Million
2017 10.06% 28.07% 0.11x 3.28x CA$1.85 Million
2018 9.32% 27.47% 0.11x 3.23x CA$-23.29 Million
2019 5.27% 15.90% 0.10x 3.30x CA$-167.95 Million
2020 -7.41% -24.31% 0.09x 3.28x CA$-587.29 Million
2021 6.88% 24.44% 0.09x 3.16x CA$-113.46 Million
2022 3.18% 10.96% 0.10x 3.03x CA$-263.75 Million
2023 1.91% 6.04% 0.11x 2.99x CA$-314.58 Million
2024 6.10% 23.63% 0.09x 2.74x CA$-167.44 Million
2025 3.99% 15.56% 0.09x 2.70x CA$-263.68 Million

Industry Comparison

This section compares Morguard Corporation's net assets metrics with peer companies in the Real Estate - Diversified industry.

Industry Context

  • Industry: Real Estate - Diversified
  • Average net assets among peers: $20,230,634
  • Average return on equity (ROE) among peers: 4.16%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Morguard Corporation (MRC) CA$4.77 Billion 8.16% 1.48x $306.37 Million
Urbanfund Corp (UFC) $19.95 Million 14.45% 0.80x $8.26 Million
Yorkton Equity Group Inc (YEG) $20.51 Million -6.13% 1.24x $3.97 Million