RFA Financial Inc.
RFA Financial Inc. is a diversified commercial real estate investment trust and is an unincorporated closed-end real estate investment trust, created under, and governed by, the laws of the Province of Manitoba. The REIT was created pursuant to the Declaration of Trust dated November 8, 2004, as most recently amended and restated on December 19, 2021. Certain of the REIT's securities are listed o… Read more
RFA Financial Inc. (RFA) - Net Assets
Latest net assets as of September 2025: CA$1.41 Billion CAD
Based on the latest financial reports, RFA Financial Inc. (RFA) has net assets worth CA$1.41 Billion CAD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$2.60 Billion) and total liabilities (CA$1.19 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$1.41 Billion |
| % of Total Assets | 54.3% |
| Annual Growth Rate | -15.77% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 7.56 |
RFA Financial Inc. - Net Assets Trend (2022–2024)
This chart illustrates how RFA Financial Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for RFA Financial Inc. (2022–2024)
The table below shows the annual net assets of RFA Financial Inc. from 2022 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$1.58 Billion | -7.89% |
| 2023-12-31 | CA$1.72 Billion | -23.01% |
| 2022-12-31 | CA$2.23 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to RFA Financial 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 56717000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$1.53 Billion | 96.71% |
| Other Components | CA$692.16 Million | 43.78% |
| Total Equity | CA$1.58 Billion | 100.00% |
RFA Financial Inc. Competitors by Market Cap
The table below lists competitors of RFA Financial Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Crookes Brothers Ltd
JSE:CKS
|
$144.18K |
|
Danske Invest - Nye Markeder Obligationer
CO:DKINMOBL
|
$144.18K |
|
Pionero Fondo De Inversion
SN:CFIPIONERO
|
$144.30K |
|
Boss Holdings Inc
PINK:BSHI
|
$144.31K |
|
Greencore Group
LSE:GNC
|
$143.86K |
|
NORMA GROUP N - Dusseldorf Stock Exchang
DU:NOEJ
|
$143.80K |
|
Godsinlosen Nordic AB
ST:GIAB
|
$143.79K |
|
MANCHESTER UTD A
MU:MUF
|
$143.76K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RFA Financial Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,716,332,000 to 1,580,975,000, a change of -135,357,000 (-7.9%).
- Net loss of 47,414,000 reduced equity.
- Dividend payments of 104,457,000 reduced retained earnings.
- Share repurchases of 62,768,000 reduced equity.
- Other factors increased equity by 79,282,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-47.41 Million | -3.0% |
| Dividends Paid | CA$104.46 Million | -6.61% |
| Share Repurchases | CA$62.77 Million | -3.97% |
| Other Changes | CA$79.28 Million | +5.01% |
| Total Change | CA$- | -7.89% |
Book Value vs Market Value Analysis
This analysis compares RFA Financial 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: 1.22x
- 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 0.99x to 1.22x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | CA$21.05 | CA$20.90 | x |
| 2023-12-31 | CA$17.32 | CA$20.90 | x |
| 2024-12-31 | CA$17.10 | CA$20.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RFA Financial Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.79%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.77x
- Recent ROE (-3.00%) is above the historical average (-7.53%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | -0.24% | -1.42% | 0.08x | 2.04x | CA$-228.21 Million |
| 2023 | -19.35% | -98.88% | 0.09x | 2.18x | CA$-503.70 Million |
| 2024 | -3.00% | -15.79% | 0.11x | 1.77x | CA$-205.51 Million |
Industry Comparison
This section compares RFA Financial Inc.'s net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $981,288,333
- Average return on equity (ROE) among peers: 13.32%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RFA Financial Inc. (RFA) | CA$1.41 Billion | -0.24% | 0.84x | $144.17K |
| Artis Real Estate Investment Trust (AX-UN) | $2.05 Billion | 16.60% | 1.14x | $592.67 Million |
| Dream Impact Trust (MPCT-UN) | $695.06 Million | 2.72% | 0.44x | $11.01K |
| Melcor Real Estate Investment Trust (MR-UN) | $198.95 Million | 20.64% | 2.35x | $35.04 Million |