Pinetree Capital Ltd (PNP) - Net Assets
Based on the latest financial reports, Pinetree Capital Ltd (PNP) has net assets worth CA$87.59 Million 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$89.39 Million) and total liabilities (CA$1.81 Million). 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$87.59 Million |
| % of Total Assets | 97.98% |
| Annual Growth Rate | 8.33% |
| 5-Year Change | 127.86% |
| 10-Year Change | 722.48% |
| Growth Volatility | 104.25 |
Pinetree Capital Ltd - Net Assets Trend (1996–2025)
This chart illustrates how Pinetree Capital Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Pinetree Capital Ltd (1996–2025)
The table below shows the annual net assets of Pinetree Capital Ltd from 1996 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$87.59 Million | +12.72% |
| 2024-12-31 | CA$77.70 Million | +71.25% |
| 2023-12-31 | CA$45.37 Million | +14.52% |
| 2022-12-31 | CA$39.62 Million | +3.07% |
| 2021-12-31 | CA$38.44 Million | +101.24% |
| 2020-12-31 | CA$19.10 Million | +6.72% |
| 2019-12-31 | CA$17.90 Million | +12.00% |
| 2018-12-31 | CA$15.98 Million | -12.70% |
| 2017-12-31 | CA$18.30 Million | +71.89% |
| 2016-12-31 | CA$10.65 Million | -45.40% |
| 2015-12-31 | CA$19.50 Million | -61.88% |
| 2014-12-31 | CA$51.16 Million | -48.33% |
| 2013-12-31 | CA$99.01 Million | -53.33% |
| 2012-12-31 | CA$212.15 Million | -40.35% |
| 2011-12-31 | CA$355.63 Million | -45.01% |
| 2010-12-31 | CA$646.73 Million | +88.72% |
| 2009-12-31 | CA$342.69 Million | +96.71% |
| 2008-12-31 | CA$174.21 Million | -63.47% |
| 2007-12-31 | CA$476.93 Million | +29.66% |
| 2006-12-31 | CA$367.83 Million | +232.02% |
| 2005-12-31 | CA$110.79 Million | +96.70% |
| 2004-12-31 | CA$56.32 Million | +9.54% |
| 2003-12-31 | CA$51.42 Million | +431.74% |
| 2002-12-31 | CA$9.67 Million | -47.79% |
| 2001-12-31 | CA$18.52 Million | -59.05% |
| 2000-12-31 | CA$45.23 Million | +186.29% |
| 1999-12-31 | CA$15.80 Million | +79.55% |
| 1998-12-31 | CA$8.80 Million | +8.64% |
| 1997-12-31 | CA$8.10 Million | -5.81% |
| 1996-12-31 | CA$8.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Pinetree Capital 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 decreased by 35638000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$342.29 Million | 390.80% |
| Other Components | CA$108.18 Million | 123.51% |
| Total Equity | CA$87.59 Million | 100.00% |
Pinetree Capital Ltd Competitors by Market Cap
The table below lists competitors of Pinetree Capital Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Onxeo SA
F:C4X
|
$65.39 Million |
|
MAXCYTE INC DL-01
F:MYE0
|
$65.39 Million |
|
BRIOSCHI (BFX.SG)
STU:BFX
|
$65.40 Million |
|
Turk Ilac ve Serum Sanayi AS
IS:TRILC
|
$65.41 Million |
|
RMS Mezzanine A.S.
PR:PVT
|
$65.39 Million |
|
Allegiant Gold Ltd
V:AUAU
|
$65.37 Million |
|
Golden Horse Minerals Ltd
AU:GHM
|
$65.37 Million |
|
Kuangli Photoelectric Technology Co Ltd
TW:6431
|
$65.36 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pinetree Capital Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 77,699,000 to 87,586,000, a change of 9,887,000 (12.7%).
- Net income of 9,887,000 contributed positively to equity growth.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$9.89 Million | +11.29% |
| Total Change | CA$- | 12.72% |
Book Value vs Market Value Analysis
This analysis compares Pinetree Capital 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: 1.03x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.21x to 1.03x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$45.24 | CA$9.63 | x |
| 1997-12-31 | CA$35.37 | CA$9.63 | x |
| 1998-12-31 | CA$38.03 | CA$9.63 | x |
| 1999-12-31 | CA$57.31 | CA$9.63 | x |
| 2000-12-31 | CA$151.38 | CA$9.63 | x |
| 2001-12-31 | CA$67.43 | CA$9.63 | x |
| 2002-12-31 | CA$35.85 | CA$9.63 | x |
| 2003-12-31 | CA$142.92 | CA$9.63 | x |
| 2004-12-31 | CA$150.06 | CA$9.63 | x |
| 2005-12-31 | CA$253.85 | CA$9.63 | x |
| 2006-12-31 | CA$1211.08 | CA$9.63 | x |
| 2007-12-31 | CA$675.28 | CA$9.63 | x |
| 2008-12-31 | CA$197.29 | CA$9.63 | x |
| 2009-12-31 | CA$355.63 | CA$9.63 | x |
| 2010-12-31 | CA$650.19 | CA$9.63 | x |
| 2011-12-31 | CA$360.27 | CA$9.63 | x |
| 2012-12-31 | CA$215.00 | CA$9.63 | x |
| 2013-12-31 | CA$94.58 | CA$9.63 | x |
| 2014-12-31 | CA$39.46 | CA$9.63 | x |
| 2015-12-31 | CA$13.35 | CA$9.63 | x |
| 2016-12-31 | CA$5.19 | CA$9.63 | x |
| 2017-12-31 | CA$4.94 | CA$9.63 | x |
| 2018-12-31 | CA$3.39 | CA$9.63 | x |
| 2019-12-31 | CA$3.64 | CA$9.63 | x |
| 2020-12-31 | CA$3.89 | CA$9.63 | x |
| 2021-12-31 | CA$5.05 | CA$9.63 | x |
| 2022-12-31 | CA$4.22 | CA$9.63 | x |
| 2023-12-31 | CA$4.83 | CA$9.63 | x |
| 2024-12-31 | CA$8.28 | CA$9.63 | x |
| 2025-12-31 | CA$9.33 | CA$9.63 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pinetree Capital Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.29%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 56.55%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 1.02x
- Recent ROE (11.29%) is above the historical average (-31.29%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -26.74% | -176.92% | 0.12x | 1.28x | CA$-3.16 Million |
| 1997 | -23.46% | -172.73% | 0.12x | 1.15x | CA$-2.71 Million |
| 1998 | 6.82% | 24.00% | 0.26x | 1.09x | CA$-280.00K |
| 1999 | 31.65% | 61.73% | 0.42x | 1.23x | CA$3.42 Million |
| 2000 | -25.56% | -201.66% | 0.10x | 1.25x | CA$-16.08 Million |
| 2001 | -143.73% | -889.18% | 0.11x | 1.42x | CA$-28.47 Million |
| 2002 | -90.57% | -965.52% | 0.05x | 1.96x | CA$-9.72 Million |
| 2003 | 32.26% | 59.07% | 0.33x | 1.64x | CA$11.45 Million |
| 2004 | -7.08% | -28.74% | 0.17x | 1.49x | CA$-9.62 Million |
| 2005 | 46.65% | 70.48% | 0.42x | 1.59x | CA$40.61 Million |
| 2006 | 49.79% | 62.14% | 0.53x | 1.51x | CA$146.34 Million |
| 2007 | -19.21% | -45.80% | 0.32x | 1.30x | CA$-139.30 Million |
| 2008 | -204.38% | 0.00% | -2.12x | 1.16x | CA$-373.47 Million |
| 2009 | 45.93% | 74.59% | 0.55x | 1.12x | CA$123.12 Million |
| 2010 | 46.02% | 77.08% | 0.47x | 1.27x | CA$232.97 Million |
| 2011 | -83.89% | 0.00% | -0.74x | 1.25x | CA$-333.90 Million |
| 2012 | -68.79% | 0.00% | -0.45x | 1.39x | CA$-167.15 Million |
| 2013 | -124.60% | 0.00% | -0.62x | 1.53x | CA$-133.28 Million |
| 2014 | -137.98% | 0.00% | -0.30x | 2.13x | CA$-75.71 Million |
| 2015 | -165.19% | 0.00% | -0.72x | 1.56x | CA$-34.17 Million |
| 2016 | -141.86% | 0.00% | -1.02x | 1.04x | CA$-16.17 Million |
| 2017 | -9.47% | 0.00% | -0.05x | 1.02x | CA$-3.56 Million |
| 2018 | -14.77% | 0.00% | -0.11x | 1.02x | CA$-3.96 Million |
| 2019 | 10.72% | 80.18% | 0.13x | 1.02x | CA$128.20K |
| 2020 | 6.30% | 70.64% | 0.09x | 1.02x | CA$-707.10K |
| 2021 | 3.80% | 63.96% | 0.06x | 1.01x | CA$-2.38 Million |
| 2022 | 2.98% | 56.68% | 0.05x | 1.01x | CA$-2.78 Million |
| 2023 | 12.68% | 86.69% | 0.15x | 1.01x | CA$1.22 Million |
| 2024 | 41.61% | 97.08% | 0.43x | 1.01x | CA$24.56 Million |
| 2025 | 11.29% | 56.55% | 0.20x | 1.02x | CA$1.13 Million |
Industry Comparison
This section compares Pinetree Capital Ltd's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $145,136,880
- Average return on equity (ROE) among peers: -23.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pinetree Capital Ltd (PNP) | CA$87.59 Million | -26.74% | 0.02x | $65.39 Million |
| BlockMint Technologies Inc (BKMT) | $309.87K | -22.33% | 0.12x | $1.22 Million |
| Bitcoin Well Inc (BTCW) | $-872.20K | 0.00% | 0.00x | $20.49 Million |
| Cathedra Bitcoin Inc (CBIT) | $11.51 Million | -98.68% | 0.02x | $1.88 Million |
| Canaccord Genuity Group Inc (CF) | $1.40 Billion | -6.44% | 3.51x | $938.51 Million |
| CryptoStar Corp (CSTR) | $5.58 Million | -38.27% | 1.20x | $1.53 Million |
| Currency Exchange International Corp (CXI) | $33.03 Million | 10.35% | 0.20x | $111.75 Million |
| DelphX Capital Markets Inc (DELX) | $-2.37 Million | 0.00% | 0.00x | $6.19 Million |
| Digihost Technology Inc (DGHI) | $-274.71K | 0.00% | 0.00x | $48.56 Million |
| Dmg Blockchain Solutions Inc (DMGI) | $202.38K | -25.80% | 0.06x | $46.27 Million |
| FRNT Financial Inc (FRNT) | $5.62 Million | -49.94% | 0.14x | $5.85 Million |
About Pinetree Capital Ltd
Pinetree Capital Ltd. is a venture capital and private equity firm specializing in early, later stage venture, middle market, mature, later stage, turnaround and growth capital investments in micro and small cap companies. The firm prefers to invest in enterprise software, financial and healthcare industries. It typically invests in USA, Canada and Europe. The firm invests primarily in equities a… Read more