North American Construction Group Ltd (NOA) - Net Assets
Based on the latest financial reports, North American Construction Group Ltd (NOA) has net assets worth CA$456.62 Million CAD (≈ $330.31 Million 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$1.82 Billion ≈ $1.32 Billion USD) and total liabilities (CA$1.36 Billion ≈ $986.07 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 NOA asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$456.62 Million |
| % of Total Assets | 25.09% |
| Annual Growth Rate | 13.57% |
| 5-Year Change | 63.98% |
| 10-Year Change | 187.27% |
| Growth Volatility | 92.72 |
North American Construction Group Ltd - Net Assets Trend (1999–2025)
This chart illustrates how North American Construction Group Ltd's net assets have evolved over time, based on quarterly financial data. Also explore North American Construction Group Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for North American Construction Group Ltd (1999–2025)
The table below shows the annual net assets of North American Construction Group Ltd from 1999 to 2025. For live valuation and market cap data, see market value of North American Construction Group Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$456.62 Million ≈ $330.31 Million |
+17.41% |
| 2024-12-31 | CA$388.90 Million ≈ $281.33 Million |
+9.04% |
| 2023-12-31 | CA$356.65 Million ≈ $258.00 Million |
+16.58% |
| 2022-12-31 | CA$305.92 Million ≈ $221.30 Million |
+9.86% |
| 2021-12-31 | CA$278.46 Million ≈ $201.44 Million |
+12.08% |
| 2020-12-31 | CA$248.44 Million ≈ $179.72 Million |
+37.93% |
| 2019-12-31 | CA$180.12 Million ≈ $130.30 Million |
+19.91% |
| 2018-12-31 | CA$150.22 Million ≈ $108.66 Million |
+2.94% |
| 2017-12-31 | CA$145.92 Million ≈ $105.56 Million |
-8.20% |
| 2016-12-31 | CA$158.95 Million ≈ $114.98 Million |
-7.38% |
| 2015-12-31 | CA$171.62 Million ≈ $124.15 Million |
-9.47% |
| 2014-12-31 | CA$189.58 Million ≈ $137.14 Million |
-1.18% |
| 2013-12-31 | CA$191.84 Million ≈ $138.77 Million |
+49.94% |
| 2012-12-31 | CA$127.94 Million ≈ $92.55 Million |
+0.13% |
| 2011-12-31 | CA$127.78 Million ≈ $92.43 Million |
-13.23% |
| 2010-12-31 | CA$147.27 Million ≈ $106.53 Million |
-18.66% |
| 2009-12-31 | CA$181.06 Million ≈ $130.97 Million |
+22.80% |
| 2008-12-31 | CA$147.44 Million ≈ $106.65 Million |
-47.97% |
| 2007-12-31 | CA$283.36 Million ≈ $204.98 Million |
+16.00% |
| 2006-12-31 | CA$244.28 Million ≈ $176.71 Million |
+365.06% |
| 2005-12-31 | CA$52.53 Million ≈ $38.00 Million |
-28.57% |
| 2004-12-31 | CA$73.54 Million ≈ $53.20 Million |
-40.25% |
| 2003-12-31 | CA$123.08 Million ≈ $89.03 Million |
+312.77% |
| 2002-12-31 | CA$29.82 Million ≈ $21.57 Million |
+71.57% |
| 2001-12-31 | CA$17.38 Million ≈ $12.57 Million |
+3.63% |
| 2000-12-31 | CA$16.77 Million ≈ $12.13 Million |
+0.55% |
| 1999-12-31 | CA$16.68 Million ≈ $12.06 Million |
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Equity Component Analysis
This analysis shows how different components contribute to North American Construction Group 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 17646300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$176.46 Million | 38.65% |
| Common Stock | CA$282.96 Million | 61.97% |
| Other Comprehensive Income | CA$9.39 Million | 2.06% |
| Total Equity | CA$456.62 Million | 100.00% |
North American Construction Group Ltd Competitors by Market Cap
The table below lists competitors of North American Construction Group Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
North American Financial 15
TO:FFN
|
$400.33 Million |
|
K & S Corporation Ltd
AU:KSC
|
$400.34 Million |
|
Leysen Jewellery Inc
SHG:603900
|
$400.56 Million |
|
Diageo PLC
LSE:DGE
|
$400.60 Million |
|
MCI Management SA
WAR:MCI
|
$399.93 Million |
|
Plastika Kritis S.A.
AT:PLAKR
|
$399.74 Million |
|
Genfit S.A.
PA:GNFT
|
$399.59 Million |
|
GREENLIGHT CAP.RE A DL-01
F:G8L
|
$399.53 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in North American Construction Group Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 388,902,000 to 456,621,000, a change of 67,719,000 (17.4%).
- Net income of 33,834,000 contributed positively to equity growth.
- Dividend payments of 13,392,000 reduced retained earnings.
- Share repurchases of 41,717,000 reduced equity.
- Other comprehensive income increased equity by 10,477,000.
- Other factors increased equity by 78,517,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$33.83 Million | +7.41% |
| Dividends Paid | CA$13.39 Million | -2.93% |
| Share Repurchases | CA$41.72 Million | -9.14% |
| Other Comprehensive Income | CA$10.48 Million | +2.29% |
| Other Changes | CA$78.52 Million | +17.2% |
| Total Change | CA$- | 17.41% |
Book Value vs Market Value Analysis
This analysis compares North American Construction Group 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: 1.41x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 32.40x to 1.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1999-12-31 | CA$0.62 | CA$20.02 | x |
| 2000-12-31 | CA$0.62 | CA$20.02 | x |
| 2001-12-31 | CA$0.64 | CA$20.02 | x |
| 2002-12-31 | CA$1.10 | CA$20.02 | x |
| 2003-12-31 | CA$4.56 | CA$20.02 | x |
| 2004-12-31 | CA$2.72 | CA$20.02 | x |
| 2005-12-31 | CA$1.98 | CA$20.02 | x |
| 2006-12-31 | CA$9.60 | CA$20.02 | x |
| 2007-12-31 | CA$7.68 | CA$20.02 | x |
| 2008-12-31 | CA$4.09 | CA$20.02 | x |
| 2009-12-31 | CA$4.93 | CA$20.02 | x |
| 2010-12-31 | CA$4.08 | CA$20.02 | x |
| 2011-12-31 | CA$3.53 | CA$20.02 | x |
| 2012-12-31 | CA$3.53 | CA$20.02 | x |
| 2013-12-31 | CA$5.24 | CA$20.02 | x |
| 2014-12-31 | CA$5.41 | CA$20.02 | x |
| 2015-12-31 | CA$5.24 | CA$20.02 | x |
| 2016-12-31 | CA$5.30 | CA$20.02 | x |
| 2017-12-31 | CA$4.93 | CA$20.02 | x |
| 2018-12-31 | CA$4.76 | CA$20.02 | x |
| 2019-12-31 | CA$5.48 | CA$20.02 | x |
| 2020-12-31 | CA$7.69 | CA$20.02 | x |
| 2021-12-31 | CA$8.20 | CA$20.02 | x |
| 2022-12-31 | CA$9.00 | CA$20.02 | x |
| 2023-12-31 | CA$10.80 | CA$20.02 | x |
| 2024-12-31 | CA$11.77 | CA$20.02 | x |
| 2025-12-31 | CA$14.15 | CA$20.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently North American Construction Group 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): 7.41%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.63%
- • Asset Turnover: 0.71x
- • Equity Multiplier: 3.99x
- Recent ROE (7.41%) is above the historical average (5.04%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1999 | 132.14% | 12.17% | 1.86x | 5.83x | CA$20.37 Million |
| 2000 | 0.55% | 0.04% | 1.91x | 7.72x | CA$-1.58 Million |
| 2001 | 9.26% | 0.65% | 2.07x | 6.93x | CA$-128.90K |
| 2002 | 41.88% | 3.63% | 2.17x | 5.32x | CA$9.51 Million |
| 2003 | -12.75% | -4.15% | 0.77x | 3.98x | CA$-28.01 Million |
| 2004 | -57.54% | -11.84% | 0.68x | 7.16x | CA$-49.67 Million |
| 2005 | -41.76% | -4.46% | 0.84x | 11.17x | CA$-27.19 Million |
| 2006 | 8.63% | 3.35% | 0.89x | 2.91x | CA$-3.35 Million |
| 2007 | 14.04% | 4.02% | 1.25x | 2.80x | CA$11.45 Million |
| 2008 | -94.63% | -14.35% | 1.54x | 4.27x | CA$-154.26 Million |
| 2009 | 15.59% | 3.72% | 1.08x | 3.88x | CA$10.11 Million |
| 2010 | -23.53% | -4.04% | 1.26x | 4.64x | CA$-49.38 Million |
| 2011 | -16.56% | -2.10% | 1.34x | 5.87x | CA$-33.94 Million |
| 2012 | -1.14% | -0.27% | 0.83x | 5.16x | CA$-14.26 Million |
| 2013 | 36.06% | 14.70% | 1.06x | 2.32x | CA$50.00 Million |
| 2014 | -0.62% | -0.25% | 1.03x | 2.41x | CA$-20.13 Million |
| 2015 | -4.35% | -2.66% | 0.78x | 2.10x | CA$-24.63 Million |
| 2016 | -0.28% | -0.21% | 0.61x | 2.20x | CA$-16.34 Million |
| 2017 | 3.61% | 1.80% | 0.76x | 2.63x | CA$-9.33 Million |
| 2018 | 10.21% | 3.73% | 0.59x | 4.61x | CA$313.90K |
| 2019 | 20.47% | 5.13% | 0.91x | 4.40x | CA$18.87 Million |
| 2020 | 19.81% | 9.83% | 0.60x | 3.38x | CA$24.36 Million |
| 2021 | 18.46% | 7.86% | 0.75x | 3.12x | CA$23.56 Million |
| 2022 | 22.02% | 8.75% | 0.79x | 3.20x | CA$36.78 Million |
| 2023 | 17.70% | 6.60% | 0.62x | 4.34x | CA$27.48 Million |
| 2024 | 11.34% | 3.78% | 0.69x | 4.36x | CA$5.19 Million |
| 2025 | 7.41% | 2.63% | 0.71x | 3.99x | CA$-11.83 Million |
Industry Comparison
This section compares North American Construction Group Ltd's net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.
Industry Context
- Industry: Oil & Gas Equipment & Services
- Average net assets among peers: $264,082,511
- Average return on equity (ROE) among peers: -15.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| North American Construction Group Ltd (NOA) | CA$456.62 Million | 132.14% | 2.99x | $400.31 Million |
| Bri-Chem Corp. (BRY) | $35.24 Million | -40.74% | 1.10x | $6.61 Million |
| CES Energy Solutions Corp (CEU) | $609.05 Million | 15.63% | 1.32x | $2.92 Billion |
| Calfrac Well Services Ltd. (CFW) | $328.84 Million | -25.18% | 1.72x | $387.05 Million |
| Enterprise Group Inc (E) | $51.99 Million | -1.80% | 0.57x | $83.04 Million |
| Enerflex Ltd. (EFX) | $1.02 Billion | 6.90% | 1.10x | $2.31 Billion |
| HTC Purenergy Inc. (HTC) | $21.80 Million | -16.58% | 0.56x | $1.03 Million |
| High Arctic Energy Services Inc. (HWO) | $115.23 Million | -31.75% | 0.16x | $7.90 Million |
| Mattr Corp (MATR) | $134.80 Million | 10.46% | 0.33x | $421.70 Million |
| Mccoy Global Inc (MCB) | $59.80 Million | -60.07% | 0.17x | $50.41 Million |
About North American Construction Group Ltd
North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. It operates through Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments. The company offers mine management services for a thermal coal mine; and construction and… Read more