Bitcoin Fund Unit (QBTC) - Net Assets
Based on the latest financial reports, Bitcoin Fund Unit (QBTC) has net assets worth CA$446.55 Million CAD (≈ $323.03 Million USD) as of June 2024. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$447.64 Million ≈ $323.82 Million USD) and total liabilities (CA$1.09 Million ≈ $789.17K 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. Also explore total assets of Bitcoin Fund Unit for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$446.55 Million |
| % of Total Assets | 99.76% |
| Annual Growth Rate | -17.91% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 70.11 |
Bitcoin Fund Unit - Net Assets Trend (2020–2023)
This chart illustrates how Bitcoin Fund Unit's net assets have evolved over time, based on quarterly financial data. Check Bitcoin Fund Unit (QBTC) tangible net worth to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Bitcoin Fund Unit (2020–2023)
The table below shows the annual net assets of Bitcoin Fund Unit from 2020 to 2023. For live valuation and market cap data, see how much is Bitcoin Fund Unit worth.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | CA$372.37 Million ≈ $269.37 Million |
+97.21% |
| 2022-12-31 | CA$188.82 Million ≈ $136.59 Million |
-74.52% |
| 2021-12-31 | CA$740.95 Million ≈ $535.99 Million |
+10.14% |
| 2020-12-31 | CA$672.76 Million ≈ $486.66 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Bitcoin Fund Unit'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 41.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$199.46 Million | 53.56% |
| Common Stock | CA$172.91 Million | 46.44% |
| Total Equity | CA$372.37 Million | 100.00% |
Bitcoin Fund Unit Competitors by Market Cap
The table below lists competitors of Bitcoin Fund Unit ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MEDICOX Co. Ltd
KQ:054180
|
$573.12K |
|
Time Finance PLC
LSE:TIME
|
$574.47K |
|
Oxbridge Re Holdings Equity Warrant
NASDAQ:OXBRW
|
$574.50K |
|
Kromek Group PLC
LSE:KMK
|
$575.48K |
|
Ireka Corporation Bhd
KLSE:8834
|
$571.89K |
|
IMMUTABLE HOLDINGS INC.
F:B8X0
|
$571.40K |
|
Setubandhan Infrastructure Limited
NSE:SETUINFRA
|
$570.85K |
|
CML Microsystems Plc
LSE:CML
|
$570.77K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bitcoin Fund Unit's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 188,817,298 to 372,369,144, a change of 183,551,846 (97.2%).
- Net income of 248,781,979 contributed positively to equity growth.
- Share repurchases of 55,717,833 reduced equity.
- Other comprehensive income decreased equity by 222,013,684.
- Other factors increased equity by 212,501,384.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$248.78 Million | +66.81% |
| Share Repurchases | CA$55.72 Million | -14.96% |
| Other Comprehensive Income | CA$-222.01 Million | -59.62% |
| Other Changes | CA$212.50 Million | +57.07% |
| Total Change | CA$- | 97.21% |
Book Value vs Market Value Analysis
This analysis compares Bitcoin Fund Unit'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: 1.52x
- 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 1.94x to 1.52x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | CA$41.38 | CA$80.16 | x |
| 2021-12-31 | CA$48.20 | CA$80.16 | x |
| 2022-12-31 | CA$20.05 | CA$80.16 | x |
| 2023-12-31 | CA$52.90 | CA$80.16 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bitcoin Fund Unit 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): 66.81%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1404.88%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 1.00x
- Recent ROE (66.81%) is above the historical average (-14.26%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 53.27% | 867467.31% | 0.00x | 1.02x | CA$291.07 Million |
| 2021 | 42.54% | 124.04% | 0.34x | 1.00x | CA$241.11 Million |
| 2022 | -219.65% | -598.17% | 0.37x | 1.00x | CA$-433.62 Million |
| 2023 | 66.81% | 1404.88% | 0.05x | 1.00x | CA$211.55 Million |
Industry Comparison
This section compares Bitcoin Fund Unit's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,293,949,435
- Average return on equity (ROE) among peers: 8.66%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bitcoin Fund Unit (QBTC) | CA$446.55 Million | 53.27% | 0.00x | $573.08K |
| Aberdeen International Inc. (AAB) | $136.31 Million | 25.56% | 0.23x | $2.32 Million |
| Base Carbon Inc. (BCBN) | $52.38 Million | -2.92% | 0.01x | $43.82 Million |
| Canadian Banc Corp (BK) | $184.35 Million | 1.73% | 0.92x | $601.96 Million |
| Brookfield Corporation (BN) | $5.29 Billion | 1.57% | 1.74x | $96.74 Billion |
| Sprott Physical Gold and Silver Trust (CEF) | $4.00 Billion | 0.12% | 0.00x | $7.50 Billion |
| Canadian General Investments Ltd (CGI) | $1.68 Billion | 15.40% | 0.12x | $771.13 Million |
| CI Financial Corp (CIX) | $55.80 Million | 17.03% | 0.74x | $3.32 Billion |
| Clairvest Group Inc. (CVG) | $257.03 Million | 11.63% | 0.14x | $784.66 Million |
| Cymbria Corporation (CYB) | $1.19 Billion | -1.16% | 0.04x | $1.02 Billion |
| Dividend 15 Split Corp II (DF) | $92.42 Million | 17.67% | 1.81x | $177.84 Million |
About Bitcoin Fund Unit
Bitcoin Fund Unit operates in various business sectors.