Northland Power Inc. (NPI) - Net Assets

Latest as of March 2026: CA$4.53 Billion CAD ≈ $3.28 Billion USD

Based on the latest financial reports, Northland Power Inc. (NPI) has net assets worth CA$4.53 Billion CAD (≈ $3.28 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$13.48 Billion ≈ $9.75 Billion USD) and total liabilities (CA$8.95 Billion ≈ $6.47 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 Northland Power 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$4.53 Billion
% of Total Assets	33.61%
Annual Growth Rate	11.57%
5-Year Change	49.19%
10-Year Change	221.76%
Growth Volatility	25.5

Northland Power Inc. - Net Assets Trend (1999–2025)

This chart illustrates how Northland Power Inc.'s net assets have evolved over time, based on quarterly financial data. See how many days can Northland Power Inc. fund operations to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Northland Power Inc. (1999–2025)

The table below shows the annual net assets of Northland Power Inc. from 1999 to 2025. For live valuation and market cap data, see market cap of Northland Power Inc..

Year	Net Assets	Change
2025-12-31	CA$4.42 Billion ≈ $3.20 Billion	-2.89%
2024-12-31	CA$4.56 Billion ≈ $3.30 Billion	+1.64%
2023-12-31	CA$4.48 Billion ≈ $3.24 Billion	-5.11%
2022-12-31	CA$4.72 Billion ≈ $3.42 Billion	+59.30%
2021-12-31	CA$2.97 Billion ≈ $2.15 Billion	+48.08%
2020-12-31	CA$2.00 Billion ≈ $1.45 Billion	+32.57%
2019-12-31	CA$1.51 Billion ≈ $1.09 Billion	-1.94%
2018-12-31	CA$1.54 Billion ≈ $1.11 Billion	+5.68%
2017-12-31	CA$1.46 Billion ≈ $1.05 Billion	+6.02%
2016-12-31	CA$1.38 Billion ≈ $994.74 Million	-2.27%
2015-12-31	CA$1.41 Billion ≈ $1.02 Billion	+31.65%
2014-12-31	CA$1.07 Billion ≈ $773.12 Million	+14.98%
2013-12-31	CA$929.53 Million ≈ $672.41 Million	+32.58%
2012-12-31	CA$701.12 Million ≈ $507.18 Million	+3.15%
2011-12-31	CA$679.74 Million ≈ $491.71 Million	-16.77%
2010-12-31	CA$816.73 Million ≈ $590.81 Million	+12.25%
2009-12-31	CA$727.61 Million ≈ $526.34 Million	+72.85%
2008-12-31	CA$420.95 Million ≈ $304.51 Million	-1.48%
2007-12-31	CA$427.26 Million ≈ $309.07 Million	-19.55%
2006-12-31	CA$531.06 Million ≈ $384.16 Million	+40.08%
2005-12-31	CA$379.10 Million ≈ $274.24 Million	+3.31%
2004-12-31	CA$366.94 Million ≈ $265.44 Million	-5.36%
2003-12-31	CA$387.72 Million ≈ $280.47 Million	+70.54%
2002-12-31	CA$227.35 Million ≈ $164.46 Million	-4.63%
2001-12-31	CA$238.38 Million ≈ $172.44 Million	-3.86%
2000-12-31	CA$247.95 Million ≈ $179.36 Million	-3.38%
1999-12-31	CA$256.63 Million ≈ $185.64 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Northland Power 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 164188000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	CA$5.22 Billion	128.56%
Other Comprehensive Income	CA$363.61 Million	8.95%
Other Components	CA$152.11 Million	3.75%
Total Equity	CA$4.06 Billion	100.00%

Northland Power Inc. Competitors by Market Cap

The table below lists competitors of Northland Power Inc. ranked by their market capitalization.

Company	Market Cap
TFS Financial Corporation NASDAQ:TFSL	$4.30 Billion
Rush Enterprises A Inc NASDAQ:RUSHA	$4.30 Billion
Anhui Zhongding Sealing Parts Co Ltd SHE:000887	$4.31 Billion
LEG Immobilien SE XETRA:LEG	$4.31 Billion
HLB Co. Ltd KQ:028300	$4.30 Billion
Dropbox Inc NASDAQ:DBX	$4.30 Billion
New Hope Liuhe Co Ltd SHE:000876	$4.30 Billion
ABSA Bank Limited JSE:ABSP	$4.29 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,186,112,999 to 4,061,211,000, a change of -124,901,999 (-3.0%).
Net loss of 163,248,000 reduced equity.
Dividend payments of 292,331,000 reduced retained earnings.
Other comprehensive income increased equity by 319,993,001.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$-163.25 Million	-4.02%
Dividends Paid	CA$292.33 Million	-7.2%
Other Comprehensive Income	CA$319.99 Million	+7.88%
Other Changes	CA$10.68 Million	+0.26%
Total Change	CA$-	-2.98%

Book Value vs Market Value Analysis

This analysis compares Northland Power 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: 1.46x
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 2.73x to 1.46x 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$8.33	CA$22.73	x
2000-12-31	CA$8.04	CA$22.73	x
2001-12-31	CA$7.73	CA$22.73	x
2002-12-31	CA$7.38	CA$22.73	x
2003-12-31	CA$10.49	CA$22.73	x
2004-12-31	CA$7.38	CA$22.73	x
2005-12-31	CA$7.09	CA$22.73	x
2006-12-31	CA$8.95	CA$22.73	x
2007-12-31	CA$6.85	CA$22.73	x
2008-12-31	CA$6.45	CA$22.73	x
2009-12-31	CA$9.29	CA$22.73	x
2010-12-31	CA$11.30	CA$22.73	x
2011-12-31	CA$5.81	CA$22.73	x
2012-12-31	CA$5.82	CA$22.73	x
2013-12-31	CA$6.59	CA$22.73	x
2014-12-31	CA$5.66	CA$22.73	x
2015-12-31	CA$5.93	CA$22.73	x
2016-12-31	CA$5.40	CA$22.73	x
2017-12-31	CA$5.39	CA$22.73	x
2018-12-31	CA$5.65	CA$22.73	x
2019-12-31	CA$5.67	CA$22.73	x
2020-12-31	CA$7.83	CA$22.73	x
2021-12-31	CA$12.60	CA$22.73	x
2022-12-31	CA$18.59	CA$22.73	x
2023-12-31	CA$16.56	CA$22.73	x
2024-12-31	CA$16.27	CA$22.73	x
2025-12-31	CA$15.54	CA$22.73	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Northland Power 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): -4.02%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -6.70%
• Asset Turnover: 0.18x
• Equity Multiplier: 3.26x
Recent ROE (-4.02%) is below the historical average (6.64%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1999	7.17%	30.73%	0.22x	1.04x	CA$-7.27 Million
2000	7.65%	30.80%	0.24x	1.04x	CA$-5.83 Million
2001	8.66%	30.17%	0.28x	1.04x	CA$-3.20 Million
2002	8.43%	26.50%	0.22x	1.43x	CA$-3.56 Million
2003	4.85%	20.64%	0.21x	1.12x	CA$-19.96 Million
2004	7.40%	29.84%	0.16x	1.57x	CA$-9.56 Million
2005	11.69%	34.58%	0.23x	1.45x	CA$6.41 Million
2006	6.43%	20.72%	0.23x	1.38x	CA$-18.96 Million
2007	-6.36%	-14.75%	0.27x	1.62x	CA$-69.92 Million
2008	15.34%	33.60%	0.28x	1.60x	CA$22.46 Million
2009	5.00%	17.41%	0.12x	2.40x	CA$-35.30 Million
2010	-25.20%	-67.67%	0.16x	2.32x	CA$-287.50 Million
2011	-9.28%	-17.72%	0.16x	3.32x	CA$-131.08 Million
2012	-1.41%	-2.74%	0.14x	3.59x	CA$-80.02 Million
2013	17.18%	27.12%	0.18x	3.46x	CA$63.19 Million
2014	-12.83%	-14.02%	0.15x	5.98x	CA$-189.65 Million
2015	0.12%	0.16%	0.10x	7.42x	CA$-98.17 Million
2016	13.00%	11.05%	0.13x	9.27x	CA$28.02 Million
2017	17.04%	11.71%	0.13x	10.87x	CA$66.54 Million
2018	25.95%	17.88%	0.15x	9.64x	CA$170.96 Million
2019	30.16%	19.34%	0.16x	9.85x	CA$214.40 Million
2020	24.20%	18.49%	0.18x	7.24x	CA$223.57 Million
2021	6.88%	9.06%	0.16x	4.67x	CA$-86.13 Million
2022	18.85%	33.80%	0.17x	3.24x	CA$388.61 Million
2023	-4.19%	-7.81%	0.16x	3.26x	CA$-593.71 Million
2024	6.49%	11.59%	0.17x	3.25x	CA$-146.79 Million
2025	-4.02%	-6.70%	0.18x	3.26x	CA$-569.37 Million

Industry Comparison

This section compares Northland Power Inc.'s net assets metrics with peer companies in the Utilities - Renewable industry.

Industry Context

Industry: Utilities - Renewable
Average net assets among peers: $448,537,059
Average return on equity (ROE) among peers: -2.75%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Northland Power Inc. (NPI)	CA$4.53 Billion	7.17%	1.98x	$4.30 Billion
Brookfield Renewable Partners L.P (BEP-UN)	$154.02 Million	1.38%	0.48x	$10.61 Billion
Boralex Inc (BLX)	$2.02 Billion	3.85%	2.25x	$2.74 Billion
Greenbriar Capital Corp (GRB)	$1.99 Million	-15.20%	0.01x	$15.66 Million
Innergex Renewable Energy Inc. (INE)	$665.93 Million	7.23%	2.57x	$2.01 Billion
Polaris Infrastructure Inc (PIF)	$260.82 Million	0.19%	0.93x	$222.94 Million
RE Royalties Ltd (RE)	$18.89 Million	-16.93%	0.05x	$11.49 Million
Synex International Inc. (SXI)	$14.09 Million	0.21%	1.35x	$8.66 Million

About Northland Power Inc.

TO:NPI Canada Utilities - Renewable

Market Cap

$4.30 Billion

CA$5.94 Billion CAD

Market Cap Rank

#4005 Global

#133 in Canada

Share Price

CA$22.73

Change (1 day)

-0.31%

52-Week Range

CA$16.24 - CA$25.78

All Time High

CA$43.71