New Gold Inc (NGD) - Net Assets
Based on the latest financial reports, New Gold Inc (NGD) has net assets worth CA$1.91 Billion CAD (≈ $1.38 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$3.17 Billion ≈ $2.30 Billion USD) and total liabilities (CA$1.27 Billion ≈ $915.37 Million 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 New Gold Inc tangible equity quality to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.91 Billion |
| % of Total Assets | 60.13% |
| Annual Growth Rate | 33.82% |
| 5-Year Change | 99.66% |
| 10-Year Change | -8.37% |
| Growth Volatility | 159.77 |
New Gold Inc - Net Assets Trend (1997–2025)
This chart illustrates how New Gold Inc's net assets have evolved over time, based on quarterly financial data. See New Gold Inc (NGD) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for New Gold Inc (1997–2025)
The table below shows the annual net assets of New Gold Inc from 1997 to 2025. For live valuation and market cap data, see New Gold Inc (NGD) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$1.91 Billion ≈ $1.38 Billion |
+81.37% |
| 2024-12-31 | CA$1.05 Billion ≈ $761.22 Million |
+33.34% |
| 2023-12-31 | CA$789.20 Million ≈ $570.90 Million |
-17.75% |
| 2022-12-31 | CA$959.50 Million ≈ $694.09 Million |
+0.38% |
| 2021-12-31 | CA$955.90 Million ≈ $691.48 Million |
+21.11% |
| 2020-12-31 | CA$789.30 Million ≈ $570.97 Million |
-17.89% |
| 2019-12-31 | CA$961.30 Million ≈ $695.39 Million |
+0.21% |
| 2018-12-31 | CA$959.30 Million ≈ $693.94 Million |
-55.16% |
| 2017-12-31 | CA$2.14 Billion ≈ $1.55 Billion |
+2.72% |
| 2016-12-31 | CA$2.08 Billion ≈ $1.51 Billion |
-0.80% |
| 2015-12-31 | CA$2.10 Billion ≈ $1.52 Billion |
-7.56% |
| 2014-12-31 | CA$2.27 Billion ≈ $1.64 Billion |
-16.50% |
| 2013-12-31 | CA$2.72 Billion ≈ $1.97 Billion |
+1.62% |
| 2012-12-31 | CA$2.68 Billion ≈ $1.94 Billion |
+17.27% |
| 2011-12-31 | CA$2.28 Billion ≈ $1.65 Billion |
+20.56% |
| 2010-12-31 | CA$1.89 Billion ≈ $1.37 Billion |
+9.37% |
| 2009-12-31 | CA$1.73 Billion ≈ $1.25 Billion |
+20.06% |
| 2008-12-31 | CA$1.44 Billion ≈ $1.04 Billion |
+588.08% |
| 2007-12-31 | CA$209.54 Million ≈ $151.58 Million |
+105.47% |
| 2006-12-31 | CA$101.98 Million ≈ $73.77 Million |
+252.82% |
| 2005-12-31 | CA$28.90 Million ≈ $20.91 Million |
+17.17% |
| 2004-12-31 | CA$24.67 Million ≈ $17.85 Million |
+16.64% |
| 2003-12-31 | CA$21.15 Million ≈ $15.30 Million |
+425.70% |
| 2002-12-31 | CA$4.02 Million ≈ $2.91 Million |
+15.06% |
| 2001-12-31 | CA$3.50 Million ≈ $2.53 Million |
-19.38% |
| 2000-12-31 | CA$4.34 Million ≈ $3.14 Million |
+492.55% |
| 1999-12-31 | CA$731.99K ≈ $529.51K |
+34.84% |
| 1998-12-31 | CA$542.84K ≈ $392.68K |
-0.88% |
| 1997-12-31 | CA$547.64K ≈ $396.15K |
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Equity Component Analysis
This analysis shows how different components contribute to New Gold Inc'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 149583493685.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$3.33 Billion | 174.53% |
| Other Comprehensive Income | CA$-30.05 Million | -1.57% |
| Other Components | CA$104.21 Million | 5.46% |
| Total Equity | CA$1.91 Billion | 100.00% |
New Gold Inc Competitors by Market Cap
The table below lists competitors of New Gold Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nexgen Energy (Canada) Ltd
AU:NXG
|
$6.97 Billion |
|
Molina Healthcare Inc
NYSE:MOH
|
$6.97 Billion |
|
First American Corporation
NYSE:FAF
|
$6.98 Billion |
|
Metallurgical Corporation of China Ltd
SHG:601618
|
$6.98 Billion |
|
Cidara Therapeutics Inc
NASDAQ:CDTX
|
$6.96 Billion |
|
RATIONAL UN.ADR 1/ 1/20
F:RAA1
|
$6.96 Billion |
|
Reece Ltd
AU:REH
|
$6.96 Billion |
|
SIGMASTAR TECH LTD
SHE:301536
|
$6.95 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in New Gold Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,052,300,000 to 1,908,520,446, a change of 856,220,446 (81.4%).
- Net income of 872,917,996 contributed positively to equity growth.
- Other comprehensive income increased equity by 1,154,778.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$872.92 Million | +45.74% |
| Other Comprehensive Income | CA$1.15 Million | +0.06% |
| Other Changes | CA$-17.85 Million | -0.94% |
| Total Change | CA$- | 81.37% |
Book Value vs Market Value Analysis
This analysis compares New Gold Inc'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: 5.06x
- 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 63.62x to 5.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | CA$0.19 | CA$12.16 | x |
| 1998-12-31 | CA$0.18 | CA$12.16 | x |
| 1999-12-31 | CA$0.20 | CA$12.16 | x |
| 2000-12-31 | CA$0.65 | CA$12.16 | x |
| 2001-12-31 | CA$0.42 | CA$12.16 | x |
| 2002-12-31 | CA$0.46 | CA$12.16 | x |
| 2003-12-31 | CA$2.07 | CA$12.16 | x |
| 2004-12-31 | CA$1.84 | CA$12.16 | x |
| 2005-12-31 | CA$2.00 | CA$12.16 | x |
| 2006-12-31 | CA$4.49 | CA$12.16 | x |
| 2007-12-31 | CA$6.82 | CA$12.16 | x |
| 2008-12-31 | CA$9.70 | CA$12.16 | x |
| 2009-12-31 | CA$5.65 | CA$12.16 | x |
| 2010-12-31 | CA$4.79 | CA$12.16 | x |
| 2011-12-31 | CA$5.18 | CA$12.16 | x |
| 2012-12-31 | CA$5.71 | CA$12.16 | x |
| 2013-12-31 | CA$5.57 | CA$12.16 | x |
| 2014-12-31 | CA$4.51 | CA$12.16 | x |
| 2015-12-31 | CA$4.12 | CA$12.16 | x |
| 2016-12-31 | CA$4.05 | CA$12.16 | x |
| 2017-12-31 | CA$3.79 | CA$12.16 | x |
| 2018-12-31 | CA$1.66 | CA$12.16 | x |
| 2019-12-31 | CA$1.57 | CA$12.16 | x |
| 2020-12-31 | CA$1.17 | CA$12.16 | x |
| 2021-12-31 | CA$1.40 | CA$12.16 | x |
| 2022-12-31 | CA$1.41 | CA$12.16 | x |
| 2023-12-31 | CA$1.15 | CA$12.16 | x |
| 2024-12-31 | CA$1.32 | CA$12.16 | x |
| 2025-12-31 | CA$2.40 | CA$12.16 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently New Gold Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 45.74%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 58.38%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 1.66x
- Recent ROE (45.74%) is above the historical average (-7.18%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | -7.31% | -5720674.29% | 0.00x | 1.09x | CA$-94.81K |
| 1998 | -7.29% | -6089555.38% | 0.00x | 1.03x | CA$-93.87K |
| 1999 | -10.39% | -11017986.96% | 0.00x | 1.02x | CA$-149.22K |
| 2000 | -0.16% | -510496.24% | 0.00x | 1.01x | CA$-440.53K |
| 2001 | -2.06% | 0.00% | 0.00x | 1.06x | CA$-421.78K |
| 2002 | -2.94% | -162.71% | 0.02x | 1.03x | CA$-520.42K |
| 2003 | -4.44% | -1123.12% | 0.00x | 1.04x | CA$-3.05 Million |
| 2004 | -4.21% | -221.15% | 0.02x | 1.07x | CA$-3.51 Million |
| 2005 | -10.13% | -696.74% | 0.01x | 1.24x | CA$-5.82 Million |
| 2006 | -2.95% | 0.00% | 0.00x | 1.12x | CA$-13.20 Million |
| 2007 | -29.61% | 0.00% | 0.00x | 2.26x | CA$-83.00 Million |
| 2008 | -7.12% | -47.07% | 0.11x | 1.36x | CA$-246.86 Million |
| 2009 | -11.23% | -60.01% | 0.13x | 1.44x | CA$-367.42 Million |
| 2010 | 9.35% | 33.36% | 0.19x | 1.45x | CA$-12.37 Million |
| 2011 | 7.84% | 25.72% | 0.22x | 1.41x | CA$-49.21 Million |
| 2012 | 7.44% | 25.15% | 0.18x | 1.60x | CA$-68.65 Million |
| 2013 | -7.03% | -24.52% | 0.19x | 1.54x | CA$-463.19 Million |
| 2014 | -21.01% | -65.72% | 0.19x | 1.71x | CA$-704.22 Million |
| 2015 | -9.59% | -28.25% | 0.19x | 1.75x | CA$-411.36 Million |
| 2016 | 0.13% | 0.39% | 0.17x | 1.90x | CA$-205.59 Million |
| 2017 | -5.05% | -17.87% | 0.15x | 1.88x | CA$-321.95 Million |
| 2018 | -127.77% | -202.76% | 0.28x | 2.26x | CA$-1.32 Billion |
| 2019 | -7.65% | -11.66% | 0.29x | 2.25x | CA$-169.63 Million |
| 2020 | -10.05% | -12.33% | 0.29x | 2.85x | CA$-158.23 Million |
| 2021 | 14.71% | 18.86% | 0.30x | 2.59x | CA$45.01 Million |
| 2022 | -6.96% | -11.05% | 0.27x | 2.34x | CA$-162.75 Million |
| 2023 | -8.17% | -8.20% | 0.34x | 2.90x | CA$-143.42 Million |
| 2024 | 9.75% | 11.10% | 0.46x | 1.90x | CA$-2.63 Million |
| 2025 | 45.74% | 58.38% | 0.47x | 1.66x | CA$682.07 Million |
Industry Comparison
This section compares New Gold Inc's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $2,627,283,631
- Average return on equity (ROE) among peers: -26.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| New Gold Inc (NGD) | CA$1.91 Billion | -7.31% | 0.66x | $6.96 Billion |
| Allied Gold Corporation (AAUC) | $416.30 Million | -27.78% | 2.17x | $3.28 Billion |
| Abcourt Mines Inc. (ABI) | $307.00K | -91.86% | 0.01x | $60.24 Million |
| Barrick Gold Corp (ABX) | $5.60 Billion | 4.09% | 0.38x | $69.18 Billion |
| American Eagle Gold Corp (AE) | $3.09 Million | -121.24% | 0.18x | $132.56 Million |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 9.99% | 0.48x | $85.39 Billion |
| Alamos Gold Inc (AGI) | $811.95 Million | 4.78% | 0.11x | $15.61 Billion |
| AIS Resources Ltd (AIS) | $2.11 Million | -4.60% | 0.02x | $2.79 Million |
| Alliance Mining Corp (ALM) | $-2.11 Million | 0.00% | 0.00x | $1.90 Million |
| Altamira Gold Corp (ALTA) | $12.15 Million | -9.13% | 0.05x | $37.53 Million |
| Almaden Minerals Ltd (AMM) | $9.76 Million | -31.42% | 0.05x | $24.82 Million |
About New Gold Inc
New Gold Inc. engages in the development and operation of mineral properties in Canada. Its products include gold, silver, and copper. The company also engages in mineral exploration, development, and operation of mining assets, including projects such as the Rainy River mine and the New Afton mine. New Gold Inc. was formerly known as DRC Resources Corporation and changed its name to New Gold Inc… Read more