Morguard Corporation (MRC) - Net Assets

Latest as of December 2025: CA$4.77 Billion CAD ≈ $3.45 Billion USD

Based on the latest financial reports, Morguard Corporation (MRC) has net assets worth CA$4.77 Billion CAD (≈ $3.45 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$11.84 Billion ≈ $8.57 Billion USD) and total liabilities (CA$7.07 Billion ≈ $5.12 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 how resilient are Morguard Corporation's assets to evaluate the company's liquid asset resilience ratio.

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. Also explore Morguard Corporation assets under control for the complete picture of this company's asset base.

Annual Net Assets for Morguard Corporation (1996–2025)

The table below shows the annual net assets of Morguard Corporation from 1996 to 2025. For live valuation and market cap data, see market cap of Morguard Corporation.

Year	Net Assets	Change
2025-12-31	CA$4.77 Billion ≈ $3.45 Billion	+1.05%
2024-12-31	CA$4.72 Billion ≈ $3.41 Billion	+8.66%
2023-12-31	CA$4.34 Billion ≈ $3.14 Billion	-0.97%
2022-12-31	CA$4.39 Billion ≈ $3.17 Billion	+5.07%
2021-12-31	CA$4.17 Billion ≈ $3.02 Billion	+6.67%
2020-12-31	CA$3.91 Billion ≈ $2.83 Billion	-9.13%
2019-12-31	CA$4.31 Billion ≈ $3.11 Billion	+1.82%
2018-12-31	CA$4.23 Billion ≈ $3.06 Billion	+7.48%
2017-12-31	CA$3.93 Billion ≈ $2.85 Billion	+7.17%
2016-12-31	CA$3.67 Billion ≈ $2.66 Billion	+5.43%
2015-12-31	CA$3.48 Billion ≈ $2.52 Billion	+3.67%
2014-12-31	CA$3.36 Billion ≈ $2.43 Billion	+43.19%
2013-12-31	CA$2.35 Billion ≈ $1.70 Billion	+14.43%
2012-12-31	CA$2.05 Billion ≈ $1.48 Billion	+21.67%
2011-12-31	CA$1.68 Billion ≈ $1.22 Billion	+201.80%
2010-12-31	CA$558.17 Million ≈ $403.77 Million	-1.38%
2009-12-31	CA$565.98 Million ≈ $409.42 Million	+1.63%
2008-12-31	CA$556.89 Million ≈ $402.85 Million	+10.74%
2007-12-31	CA$502.88 Million ≈ $363.78 Million	-3.61%
2006-12-31	CA$521.69 Million ≈ $377.38 Million	-20.99%
2005-12-31	CA$660.32 Million ≈ $477.67 Million	-20.19%
2004-12-31	CA$827.39 Million ≈ $598.52 Million	+0.59%
2003-12-31	CA$822.56 Million ≈ $595.03 Million	+6.52%
2002-12-31	CA$772.19 Million ≈ $558.59 Million	+15.10%
2001-12-31	CA$670.88 Million ≈ $485.30 Million	+6.39%
2000-12-31	CA$630.56 Million ≈ $456.14 Million	+8.03%
1999-12-31	CA$583.70 Million ≈ $422.24 Million	+59.13%
1998-12-31	CA$366.80 Million ≈ $265.34 Million	+6.16%
1997-12-31	CA$345.50 Million ≈ $249.93 Million	+58.41%
1996-12-31	CA$218.10 Million ≈ $157.77 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
Dynavox Group ST:DYVOX	$930.88 Million
Alarko Holding AS IS:ALARK	$930.89 Million
Jiangsu Huaxicun Co Ltd SHE:000936	$930.90 Million
Dalian Insulator Group Co Ltd SHE:002606	$930.99 Million
Zhejiang Xinao Textiles Inc SHG:603889	$930.73 Million
Xvivo Perfusion AB ST:XVIVO	$930.17 Million
Sensirion Holding AG SW:SENS	$930.10 Million
Voltalia SA PA:VLTSA	$929.74 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: 0.29x
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 10.04x to 0.29x 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$120.50	x
1997-12-31	CA$19.69	CA$120.50	x
1998-12-31	CA$21.36	CA$120.50	x
1999-12-31	CA$22.07	CA$120.50	x
2000-12-31	CA$24.67	CA$120.50	x
2001-12-31	CA$27.43	CA$120.50	x
2002-12-31	CA$24.86	CA$120.50	x
2003-12-31	CA$29.90	CA$120.50	x
2004-12-31	CA$31.09	CA$120.50	x
2005-12-31	CA$26.86	CA$120.50	x
2006-12-31	CA$29.53	CA$120.50	x
2007-12-31	CA$35.21	CA$120.50	x
2008-12-31	CA$39.87	CA$120.50	x
2009-12-31	CA$40.21	CA$120.50	x
2010-12-31	CA$41.07	CA$120.50	x
2011-12-31	CA$129.82	CA$120.50	x
2012-12-31	CA$159.42	CA$120.50	x
2013-12-31	CA$183.71	CA$120.50	x
2014-12-31	CA$199.55	CA$120.50	x
2015-12-31	CA$220.42	CA$120.50	x
2016-12-31	CA$239.71	CA$120.50	x
2017-12-31	CA$259.42	CA$120.50	x
2018-12-31	CA$300.00	CA$120.50	x
2019-12-31	CA$314.48	CA$120.50	x
2020-12-31	CA$300.97	CA$120.50	x
2021-12-31	CA$327.19	CA$120.50	x
2022-12-31	CA$348.88	CA$120.50	x
2023-12-31	CA$356.56	CA$120.50	x
2024-12-31	CA$397.23	CA$120.50	x
2025-12-31	CA$409.86	CA$120.50	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: $26,988,766
Average return on equity (ROE) among peers: 15.72%

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	$930.79 Million
Urbanfund Corp (UFC)	$22.34 Million	10.68%	1.02x	$36.94 Million
Yorkton Equity Group Inc (YEG)	$31.64 Million	20.75%	3.33x	$13.85 Million

About Morguard Corporation

TO:MRC Canada Real Estate - Diversified

Market Cap

$930.79 Million

CA$1.29 Billion CAD

Market Cap Rank

#9414 Global

#271 in Canada

Share Price

CA$120.50

Change (1 day)

+0.00%

52-Week Range

CA$111.55 - CA$121.63

All Time High

CA$208.38