Onex Corp (ONEX) - Net Assets
Based on the latest financial reports, Onex Corp (ONEX) has net assets worth CA$8.77 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$11.24 Billion) and total liabilities (CA$2.47 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$8.77 Billion |
| % of Total Assets | 78.03% |
| Annual Growth Rate | 9.24% |
| 5-Year Change | 4.72% |
| 10-Year Change | 549.08% |
| Growth Volatility | 55.74 |
Onex Corp - Net Assets Trend (1994–2025)
This chart illustrates how Onex Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Onex Corp (1994–2025)
The table below shows the annual net assets of Onex Corp from 1994 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$8.77 Billion | +4.16% |
| 2024-12-31 | CA$8.42 Billion | -1.69% |
| 2023-12-31 | CA$8.56 Billion | +3.81% |
| 2022-12-31 | CA$8.25 Billion | -1.48% |
| 2021-12-31 | CA$8.37 Billion | +15.62% |
| 2020-12-31 | CA$7.24 Billion | +3.72% |
| 2019-12-31 | CA$6.98 Billion | +23.88% |
| 2018-12-31 | CA$5.64 Billion | +11.89% |
| 2017-12-31 | CA$5.04 Billion | +272.91% |
| 2016-12-31 | CA$1.35 Billion | +13.53% |
| 2015-12-31 | CA$1.19 Billion | -52.36% |
| 2014-12-31 | CA$2.50 Billion | -42.51% |
| 2013-12-31 | CA$4.34 Billion | -20.26% |
| 2012-12-31 | CA$5.45 Billion | -3.34% |
| 2011-12-31 | CA$5.64 Billion | +37.82% |
| 2010-12-31 | CA$4.09 Billion | -46.66% |
| 2009-12-31 | CA$7.67 Billion | +14.12% |
| 2008-12-31 | CA$6.72 Billion | -15.26% |
| 2007-12-31 | CA$7.93 Billion | +44.20% |
| 2006-12-31 | CA$5.50 Billion | +35.38% |
| 2005-12-31 | CA$4.06 Billion | +35.06% |
| 2004-12-31 | CA$3.01 Billion | -14.74% |
| 2003-12-31 | CA$3.53 Billion | -28.23% |
| 2002-12-31 | CA$4.91 Billion | -21.49% |
| 2001-12-31 | CA$6.26 Billion | +32.12% |
| 2000-12-31 | CA$4.74 Billion | +67.87% |
| 1999-12-31 | CA$2.82 Billion | +78.41% |
| 1998-12-31 | CA$1.58 Billion | +48.73% |
| 1997-12-31 | CA$1.06 Billion | +35.20% |
| 1996-12-31 | CA$786.70 Million | +20.56% |
| 1995-12-31 | CA$652.54 Million | +15.24% |
| 1994-12-31 | CA$566.27 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Onex Corp'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 32719.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$8.51 Billion | 97.07% |
| Common Stock | CA$255.53 Million | 2.91% |
| Other Comprehensive Income | CA$998.18K | 0.01% |
| Total Equity | CA$8.77 Billion | 100.00% |
Onex Corp Competitors by Market Cap
The table below lists competitors of Onex Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CG Oncology, Inc. Common stock
NASDAQ:CGON
|
$5.79 Billion |
|
D'Amico International Shipping S.A.
LSE:0OEY
|
$5.79 Billion |
|
CarMax Inc
NYSE:KMX
|
$5.80 Billion |
|
New Hope Liuhe Co Ltd
SHE:000876
|
$5.80 Billion |
|
RTL Group SA
XETRA:RRTL
|
$5.78 Billion |
|
Shenzhen Honor Electronic Co Ltd
SHE:300870
|
$5.77 Billion |
|
Descartes Systems Group Inc
NASDAQ:DSGX
|
$5.77 Billion |
|
Anhui Tongguan Copper Foil Group Co. Ltd.
SHE:301217
|
$5.77 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Onex Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,419,000,000 to 8,769,012,617, a change of 350,012,617 (4.2%).
- Net income of 627,800,914 contributed positively to equity growth.
- Dividend payments of 20,000,000 reduced retained earnings.
- Share repurchases of 237,000,000 reduced equity.
- Other comprehensive income increased equity by 998,180.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$627.80 Million | +7.16% |
| Dividends Paid | CA$20.00 Million | -0.23% |
| Share Repurchases | CA$237.00 Million | -2.7% |
| Other Comprehensive Income | CA$998.18K | +0.01% |
| Other Changes | CA$-21.79 Million | -0.25% |
| Total Change | CA$- | 4.16% |
Book Value vs Market Value Analysis
This analysis compares Onex Corp'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: 0.93x
- 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 37.51x to 0.93x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | CA$3.10 | CA$116.42 | x |
| 1995-12-31 | CA$3.88 | CA$116.42 | x |
| 1996-12-31 | CA$3.74 | CA$116.42 | x |
| 1997-12-31 | CA$3.85 | CA$116.42 | x |
| 1998-12-31 | CA$3.81 | CA$116.42 | x |
| 1999-12-31 | CA$5.02 | CA$116.42 | x |
| 2000-12-31 | CA$5.43 | CA$116.42 | x |
| 2001-12-31 | CA$8.65 | CA$116.42 | x |
| 2002-12-31 | CA$4.12 | CA$116.42 | x |
| 2003-12-31 | CA$1.46 | CA$116.42 | x |
| 2004-12-31 | CA$1.33 | CA$116.42 | x |
| 2005-12-31 | CA$7.14 | CA$116.42 | x |
| 2006-12-31 | CA$11.71 | CA$116.42 | x |
| 2007-12-31 | CA$13.43 | CA$116.42 | x |
| 2008-12-31 | CA$10.37 | CA$116.42 | x |
| 2009-12-31 | CA$12.99 | CA$116.42 | x |
| 2010-12-31 | CA$3.84 | CA$116.42 | x |
| 2011-12-31 | CA$15.16 | CA$116.42 | x |
| 2012-12-31 | CA$14.15 | CA$116.42 | x |
| 2013-12-31 | CA$10.21 | CA$116.42 | x |
| 2014-12-31 | CA$7.33 | CA$116.42 | x |
| 2015-12-31 | CA$-1.52 | CA$116.42 | x |
| 2016-12-31 | CA$-4.71 | CA$116.42 | x |
| 2017-12-31 | CA$28.36 | CA$116.42 | x |
| 2018-12-31 | CA$25.37 | CA$116.42 | x |
| 2019-12-31 | CA$69.83 | CA$116.42 | x |
| 2020-12-31 | CA$75.45 | CA$116.42 | x |
| 2021-12-31 | CA$94.09 | CA$116.42 | x |
| 2022-12-31 | CA$97.06 | CA$116.42 | x |
| 2023-12-31 | CA$108.41 | CA$116.42 | x |
| 2024-12-31 | CA$109.34 | CA$116.42 | x |
| 2025-12-31 | CA$125.27 | CA$116.42 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Onex Corp 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): 7.16%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 214.24%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.28x
- Recent ROE (7.16%) is below the historical average (10.09%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 25.72% | 4.63% | 2.06x | 2.70x | CA$70.76 Million |
| 1995 | 11.35% | 1.18% | 2.25x | 4.26x | CA$6.72 Million |
| 1996 | 11.72% | 0.98% | 2.36x | 5.08x | CA$9.29 Million |
| 1997 | 5.63% | 0.94% | 0.99x | 6.09x | CA$-29.52 Million |
| 1998 | 16.71% | 2.01% | 1.29x | 6.44x | CA$46.21 Million |
| 1999 | 22.99% | 1.98% | 1.20x | 9.71x | CA$114.66 Million |
| 2000 | 13.14% | 0.86% | 1.11x | 13.78x | CA$29.94 Million |
| 2001 | 35.96% | 3.35% | 1.14x | 9.41x | CA$361.88 Million |
| 2002 | -13.89% | -0.69% | 1.06x | 19.05x | CA$-158.42 Million |
| 2003 | -113.31% | -1.94% | 1.17x | 49.90x | CA$-278.62 Million |
| 2004 | 15.42% | 0.26% | 1.15x | 52.02x | CA$10.23 Million |
| 2005 | 83.77% | 6.25% | 1.04x | 12.89x | CA$731.70 Million |
| 2006 | 55.21% | 5.38% | 0.82x | 12.44x | CA$703.93 Million |
| 2007 | 13.39% | 0.93% | 0.93x | 15.38x | CA$58.27 Million |
| 2008 | -18.22% | -1.05% | 0.90x | 19.14x | CA$-360.15 Million |
| 2009 | 6.75% | 0.45% | 0.97x | 15.36x | CA$-51.48 Million |
| 2010 | -36.54% | -0.85% | 0.70x | 61.39x | CA$-212.70 Million |
| 2011 | 74.75% | 5.38% | 0.84x | 16.56x | CA$1.15 Billion |
| 2012 | -7.87% | -0.51% | 0.69x | 22.31x | CA$-290.70 Million |
| 2013 | -30.68% | -1.79% | 0.54x | 31.95x | CA$-469.40 Million |
| 2014 | -14.27% | -0.68% | 0.58x | 35.90x | CA$-195.60 Million |
| 2015 | 0.00% | -2.91% | 0.55x | 0.00x | CA$-556.70 Million |
| 2016 | 0.00% | -0.73% | 0.41x | 0.00x | CA$-81.00 Million |
| 2017 | 82.99% | 10.55% | 0.51x | 15.45x | CA$2.11 Billion |
| 2018 | -25.88% | -2.79% | 0.52x | 17.73x | CA$-919.20 Million |
| 2019 | 61.25% | 388.11% | 0.09x | 1.69x | CA$3.58 Billion |
| 2020 | 10.08% | 64.15% | 0.10x | 1.64x | CA$5.70 Million |
| 2021 | 16.78% | 69.18% | 0.16x | 1.54x | CA$567.60 Million |
| 2022 | 2.85% | 53.78% | 0.04x | 1.47x | CA$-590.00 Million |
| 2023 | 6.18% | 47.15% | 0.09x | 1.51x | CA$-327.40 Million |
| 2024 | 3.60% | 46.83% | 0.05x | 1.66x | CA$-538.90 Million |
| 2025 | 7.16% | 214.24% | 0.03x | 1.28x | CA$-249.10 Million |
Industry Comparison
This section compares Onex Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $333,653,883
- Average return on equity (ROE) among peers: -8.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Onex Corp (ONEX) | CA$8.77 Billion | 25.72% | 0.28x | $5.78 Billion |
| Aberdeen International Inc. (AAB) | $87.49 Million | -10.35% | 0.14x | $3.49 Million |
| Alaris Equity Partners Income Trust (AD-UN) | $1.10 Billion | 21.27% | 0.09x | $735.97 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $10.88 Million | 16.52% | 0.04x | $6.26 Million |
| Base Carbon Inc. (BCBN) | $43.86 Million | -35.28% | 0.01x | $67.04 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $79.61 Million | 16.08% | 0.30x | $73.38 Million |
| Canadian Banc Corp (BK) | $62.13 Million | -148.50% | 1.76x | $525.03 Million |
| Bankers Petroleum Ltd (BNK) | $22.05 Million | 24.08% | 0.83x | $17.81 Million |
| Canadian General Investments Ltd (CGI) | $1.28 Billion | 19.91% | 0.14x | $784.71 Million |
| CI Financial Corp (CIX) | $635.55 Million | 11.17% | 0.61x | $3.32 Billion |
| Canso Select Opportunities Corporation (CSOC-B) | $13.11 Million | -3.83% | 0.00x | $13.58 Million |
About Onex Corp
Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, turnaround, upper-middle market, large-cap, mid-cap, and small-cap market and distressed companies. It also invests in recapitalization, growth capital, Industry consolidation, corporate carve-outs of subsidiaries and mission-critical supply divisions from multi… Read more