RioCan Real Estate Investment Trust (REI-UN) - Net Assets
Based on the latest financial reports, RioCan Real Estate Investment Trust (REI-UN) has net assets worth CA$7.16 Billion CAD (≈ $5.18 Billion 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$14.89 Billion ≈ $10.77 Billion USD) and total liabilities (CA$7.74 Billion ≈ $5.60 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 REI-UN asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$7.16 Billion |
| % of Total Assets | 48.05% |
| Annual Growth Rate | 15.97% |
| 5-Year Change | -9.53% |
| 10-Year Change | -10.64% |
| Growth Volatility | 36.33 |
RioCan Real Estate Investment Trust - Net Assets Trend (1994–2025)
This chart illustrates how RioCan Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore RioCan Real Estate Investment Trust (REI-UN) total assets for the complete picture of this company's asset base.
Annual Net Assets for RioCan Real Estate Investment Trust (1994–2025)
The table below shows the annual net assets of RioCan Real Estate Investment Trust from 1994 to 2025. For live valuation and market cap data, see RioCan Real Estate Investment Trust (REI-UN) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$7.16 Billion ≈ $5.18 Billion |
-5.31% |
| 2024-12-31 | CA$7.56 Billion ≈ $5.47 Billion |
+1.62% |
| 2023-12-31 | CA$7.44 Billion ≈ $5.38 Billion |
-3.77% |
| 2022-12-31 | CA$7.73 Billion ≈ $5.59 Billion |
-2.31% |
| 2021-12-31 | CA$7.91 Billion ≈ $5.72 Billion |
+2.28% |
| 2020-12-31 | CA$7.73 Billion ≈ $5.60 Billion |
-6.87% |
| 2019-12-31 | CA$8.31 Billion ≈ $6.01 Billion |
+8.33% |
| 2018-12-31 | CA$7.67 Billion ≈ $5.55 Billion |
-4.70% |
| 2017-12-31 | CA$8.04 Billion ≈ $5.82 Billion |
+0.43% |
| 2016-12-31 | CA$8.01 Billion ≈ $5.79 Billion |
+1.05% |
| 2015-12-31 | CA$7.93 Billion ≈ $5.73 Billion |
+0.75% |
| 2014-12-31 | CA$7.87 Billion ≈ $5.69 Billion |
+8.20% |
| 2013-12-31 | CA$7.27 Billion ≈ $5.26 Billion |
+5.70% |
| 2012-12-31 | CA$6.88 Billion ≈ $4.98 Billion |
+26.42% |
| 2011-12-31 | CA$5.44 Billion ≈ $3.94 Billion |
+147.70% |
| 2010-12-31 | CA$2.20 Billion ≈ $1.59 Billion |
+17.77% |
| 2009-12-31 | CA$1.87 Billion ≈ $1.35 Billion |
+6.55% |
| 2008-12-31 | CA$1.75 Billion ≈ $1.27 Billion |
+4.36% |
| 2007-12-31 | CA$1.68 Billion ≈ $1.21 Billion |
+1.43% |
| 2006-12-31 | CA$1.65 Billion ≈ $1.20 Billion |
-1.29% |
| 2005-12-31 | CA$1.68 Billion ≈ $1.21 Billion |
+5.70% |
| 2004-12-31 | CA$1.59 Billion ≈ $1.15 Billion |
+0.28% |
| 2003-12-31 | CA$1.58 Billion ≈ $1.14 Billion |
+12.81% |
| 2002-12-31 | CA$1.40 Billion ≈ $1.01 Billion |
+10.56% |
| 2001-12-31 | CA$1.27 Billion ≈ $916.85 Million |
+9.21% |
| 2000-12-31 | CA$1.16 Billion ≈ $839.50 Million |
+14.96% |
| 1999-12-31 | CA$1.01 Billion ≈ $730.26 Million |
+75.38% |
| 1998-12-31 | CA$575.60 Million ≈ $416.38 Million |
+38.07% |
| 1997-12-31 | CA$416.90 Million ≈ $301.58 Million |
+111.09% |
| 1996-12-31 | CA$197.50 Million ≈ $142.87 Million |
+90.45% |
| 1995-12-31 | CA$103.70 Million ≈ $75.01 Million |
+43.03% |
| 1994-12-31 | CA$72.50 Million ≈ $52.45 Million |
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Equity Component Analysis
This analysis shows how different components contribute to RioCan Real Estate Investment Trust'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 261661800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$2.62 Billion | 36.56% |
| Common Stock | CA$4.46 Billion | 62.32% |
| Other Comprehensive Income | CA$21.48 Million | 0.30% |
| Other Components | CA$58.52 Million | 0.82% |
| Total Equity | CA$7.16 Billion | 100.00% |
RioCan Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of RioCan Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PLDT Inc ADR
NYSE:PHI
|
$4.54 Billion |
|
AVIC (Chengdu) UAS Co. Ltd. A
SHG:688297
|
$4.54 Billion |
|
Temenos Group AG
SW:TEMN
|
$4.54 Billion |
|
Western Metal Materials Co Ltd
SHE:002149
|
$4.54 Billion |
|
Henan Zhongfu Industrial Co Ltd
SHG:600595
|
$4.53 Billion |
|
Turkcell Iletisim Hizmetleri A.S
F:TUL1
|
$4.53 Billion |
|
AAC TECHNOLOG.HLDG.ADR/
F:A2X
|
$4.53 Billion |
|
Inner Mongolia ERDOS Resources Co Ltd
SHG:600295
|
$4.53 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RioCan Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,558,338,000 to 7,157,263,000, a change of -401,075,000 (-5.3%).
- Net income of 69,295,000 contributed positively to equity growth.
- Dividend payments of 340,586,000 reduced retained earnings.
- Share repurchases of 127,178,000 reduced equity.
- Other comprehensive income decreased equity by 7,882,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$69.30 Million | +0.97% |
| Dividends Paid | CA$340.59 Million | -4.76% |
| Share Repurchases | CA$127.18 Million | -1.78% |
| Other Comprehensive Income | CA$-7.88 Million | -0.11% |
| Other Changes | CA$5.28 Million | +0.07% |
| Total Change | CA$- | -5.31% |
Book Value vs Market Value Analysis
This analysis compares RioCan Real Estate Investment Trust'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: 0.88x
- 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 2.95x to 0.88x 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$7.23 | CA$21.34 | x |
| 1995-12-31 | CA$9.85 | CA$21.34 | x |
| 1996-12-31 | CA$7.67 | CA$21.34 | x |
| 1997-12-31 | CA$6.64 | CA$21.34 | x |
| 1998-12-31 | CA$8.34 | CA$21.34 | x |
| 1999-12-31 | CA$9.73 | CA$21.34 | x |
| 2000-12-31 | CA$8.85 | CA$21.34 | x |
| 2001-12-31 | CA$8.44 | CA$21.34 | x |
| 2002-12-31 | CA$8.71 | CA$21.34 | x |
| 2003-12-31 | CA$9.27 | CA$21.34 | x |
| 2004-12-31 | CA$8.71 | CA$21.34 | x |
| 2005-12-31 | CA$8.64 | CA$21.34 | x |
| 2006-12-31 | CA$8.35 | CA$21.34 | x |
| 2007-12-31 | CA$8.05 | CA$21.34 | x |
| 2008-12-31 | CA$8.03 | CA$21.34 | x |
| 2009-12-31 | CA$8.06 | CA$21.34 | x |
| 2010-12-31 | CA$8.70 | CA$21.34 | x |
| 2011-12-31 | CA$20.08 | CA$21.34 | x |
| 2012-12-31 | CA$23.51 | CA$21.34 | x |
| 2013-12-31 | CA$23.94 | CA$21.34 | x |
| 2014-12-31 | CA$25.49 | CA$21.34 | x |
| 2015-12-31 | CA$24.77 | CA$21.34 | x |
| 2016-12-31 | CA$24.60 | CA$21.34 | x |
| 2017-12-31 | CA$24.61 | CA$21.34 | x |
| 2018-12-31 | CA$24.41 | CA$21.34 | x |
| 2019-12-31 | CA$26.98 | CA$21.34 | x |
| 2020-12-31 | CA$24.34 | CA$21.34 | x |
| 2021-12-31 | CA$24.93 | CA$21.34 | x |
| 2022-12-31 | CA$24.36 | CA$21.34 | x |
| 2023-12-31 | CA$24.75 | CA$21.34 | x |
| 2024-12-31 | CA$25.15 | CA$21.34 | x |
| 2025-12-31 | CA$24.19 | CA$21.34 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RioCan Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.97%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.68%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.08x
- Recent ROE (0.97%) is below the historical average (7.84%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | -2.34% | -10.69% | 0.12x | 1.80x | CA$-8.95 Million |
| 1995 | 1.35% | 5.83% | 0.12x | 1.91x | CA$-8.97 Million |
| 1996 | 7.70% | 35.27% | 0.12x | 1.86x | CA$-4.55 Million |
| 1997 | 8.73% | 38.32% | 0.12x | 1.91x | CA$-5.29 Million |
| 1998 | 10.08% | 35.91% | 0.14x | 2.00x | CA$440.00K |
| 1999 | 10.17% | 39.38% | 0.12x | 2.14x | CA$1.75 Million |
| 2000 | 10.50% | 36.16% | 0.14x | 2.08x | CA$5.76 Million |
| 2001 | 13.15% | 40.23% | 0.15x | 2.23x | CA$38.22 Million |
| 2002 | 12.77% | 36.53% | 0.14x | 2.44x | CA$37.36 Million |
| 2003 | 11.54% | 34.27% | 0.14x | 2.40x | CA$24.34 Million |
| 2004 | 9.99% | 27.22% | 0.15x | 2.49x | CA$-195.80K |
| 2005 | 7.91% | 21.77% | 0.14x | 2.55x | CA$-34.98 Million |
| 2006 | 9.90% | 25.34% | 0.14x | 2.79x | CA$-1.59 Million |
| 2007 | 1.93% | 4.49% | 0.14x | 3.13x | CA$-135.42 Million |
| 2008 | 8.39% | 19.23% | 0.14x | 3.05x | CA$-28.17 Million |
| 2009 | 6.13% | 15.02% | 0.13x | 3.16x | CA$-71.84 Million |
| 2010 | 14.09% | 34.16% | 0.13x | 3.19x | CA$87.90 Million |
| 2011 | 16.28% | 57.40% | 0.14x | 2.01x | CA$336.70 Million |
| 2012 | 19.63% | 123.19% | 0.08x | 1.89x | CA$659.30 Million |
| 2013 | 9.76% | 63.25% | 0.08x | 1.86x | CA$-17.10 Million |
| 2014 | 8.43% | 55.07% | 0.08x | 1.87x | CA$-123.80 Million |
| 2015 | 1.79% | 13.03% | 0.07x | 2.02x | CA$-650.84 Million |
| 2016 | 10.37% | 73.30% | 0.08x | 1.77x | CA$29.76 Million |
| 2017 | 8.89% | 61.92% | 0.08x | 1.79x | CA$-89.18 Million |
| 2018 | 6.89% | 46.01% | 0.08x | 1.83x | CA$-238.54 Million |
| 2019 | 9.34% | 58.50% | 0.09x | 1.83x | CA$-54.69 Million |
| 2020 | -0.84% | -5.66% | 0.07x | 1.97x | CA$-838.28 Million |
| 2021 | 7.56% | 50.92% | 0.08x | 1.92x | CA$-192.75 Million |
| 2022 | 3.06% | 19.51% | 0.08x | 1.95x | CA$-536.12 Million |
| 2023 | 0.52% | 3.35% | 0.08x | 2.00x | CA$-704.98 Million |
| 2024 | 6.26% | 36.62% | 0.08x | 2.05x | CA$-282.37 Million |
| 2025 | 0.97% | 4.68% | 0.10x | 2.08x | CA$-646.43 Million |
Industry Comparison
This section compares RioCan Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $1,348,531,831
- Average return on equity (ROE) among peers: 6.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RioCan Real Estate Investment Trust (REI-UN) | CA$7.16 Billion | -2.34% | 1.08x | $4.53 Billion |
| Choice Properties Real Estate Investment Trust (CHP-UN) | $3.52 Billion | 12.79% | 3.44x | $3.59 Billion |
| CT Real Estate Investment Trust (CRT-UN) | $3.85 Billion | 2.74% | 0.81x | $1.39 Billion |
| Firm Capital Property Trust (FCD-UN) | $48.18 Million | 9.81% | 0.97x | $175.49 Million |
| First Capital Real Estate Investment Trust (FCR-UN) | $951.33 Million | 3.19% | 2.58x | $3.59 Billion |
| Plaza Retail REIT (PLZ-UN) | $327.64 Million | -3.54% | 1.98x | $357.89 Million |
| Primaris Retail R.E. Invest. Tr. Units (PMZ-UN) | $2.10 Billion | 4.86% | 0.85x | $1.62 Billion |
| Slate Grocery REIT (SGR-U) | $403.43 Million | 7.63% | 2.26x | $110.57K |
| Slate Grocery REIT (SGR-UN) | $931.10 Million | 13.83% | 1.44x | $694.00 Million |
| SmartCentres Real Estate Investment Trust (SRU-UN) | $868.06K | 9.59% | 6.70x | $2.97 Billion |
About RioCan Real Estate Investment Trust
RioCan Real Estate Investment Trust meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at December 31, 2025, our portfolio is comprised of 168 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan's interest). RioCan Real Estate Invest… Read more