Real Estate & E-Commerce Split Corp
Real Estate & E-Commerce Split Corp. is a balanced mutual fund launched by Middlefield Limited. The fund is managed by Middlefield Capital Corporation. Real Estate & E-Commerce Split Corp. Real Estate & E-Commerce Split Corp. was formed on October 7, 2020 and is domiciled in Canada.
Real Estate & E-Commerce Split Corp (RS) - Net Assets
Latest net assets as of June 2025: CA$119.03 Million CAD
Based on the latest financial reports, Real Estate & E-Commerce Split Corp (RS) has net assets worth CA$119.03 Million CAD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$240.44 Million) and total liabilities (CA$121.41 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$119.03 Million |
| % of Total Assets | 49.51% |
| Annual Growth Rate | 51.06% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 45.15 |
Real Estate & E-Commerce Split Corp - Net Assets Trend (2020–2024)
This chart illustrates how Real Estate & E-Commerce Split 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 Real Estate & E-Commerce Split Corp (2020–2024)
The table below shows the annual net assets of Real Estate & E-Commerce Split Corp from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$113.33 Million | +41.56% |
| 2023-12-31 | CA$80.06 Million | +20.47% |
| 2022-12-31 | CA$66.46 Million | +30.65% |
| 2021-12-31 | CA$50.87 Million | +133.73% |
| 2020-12-31 | CA$21.76 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Real Estate & E-Commerce Split 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 decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$113.33 Million | 100.00% |
| Total Equity | CA$113.33 Million | 100.00% |
Real Estate & E-Commerce Split Corp Competitors by Market Cap
The table below lists competitors of Real Estate & E-Commerce Split Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Grayscale Ethereum Classic Trust (Etc)
OTCQX:ETCG
|
$63.07K |
|
VOLTALIA INH. EO 570
F:VLA
|
$63.10K |
|
Color Star Technology Co. Ltd.
NASDAQ:ADD
|
$63.13K |
|
Builders Capital Mortgage Corp
V:BCF
|
$63.18K |
|
TASTY PLC LS -001
F:T9V
|
$63.05K |
|
Tarrina Resources Limited
AU:TR8
|
$63.05K |
|
Kum Yang Co. Ltd.
KQ:001570
|
$62.99K |
|
COCE3F
SA:COCE3F
|
$62.97K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Real Estate & E-Commerce Split Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 80,059,941 to 113,332,959, a change of 33,273,018 (41.6%).
- Net loss of 7,020,099 reduced equity.
- Dividend payments of 12,138,045 reduced retained earnings.
- Share repurchases of 1,322 reduced equity.
- New share issuances of 102,969,523 increased equity.
- Other factors decreased equity by 50,537,039.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-7.02 Million | -6.19% |
| Dividends Paid | CA$12.14 Million | -10.71% |
| Share Repurchases | CA$1.32K | -0.0% |
| Share Issuances | CA$102.97 Million | +90.86% |
| Other Changes | CA$-50.54 Million | -44.59% |
| Total Change | CA$- | 41.56% |
Book Value vs Market Value Analysis
This analysis compares Real Estate & E-Commerce Split 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: 1.01x
- 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 0.75x to 1.01x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | CA$13.38 | CA$9.97 | x |
| 2021-12-31 | CA$25.93 | CA$9.97 | x |
| 2022-12-31 | CA$17.17 | CA$9.97 | x |
| 2023-12-31 | CA$20.69 | CA$9.97 | x |
| 2024-12-31 | CA$9.88 | CA$9.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Real Estate & E-Commerce Split Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -6.19%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -113.87%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 2.04x
- Recent ROE (-6.19%) is below the historical average (-0.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -1.20% | -107.17% | 0.01x | 1.77x | CA$-2.44 Million |
| 2021 | 24.18% | 898.16% | 0.02x | 1.54x | CA$7.21 Million |
| 2022 | -26.09% | -555.71% | 0.03x | 1.82x | CA$-23.98 Million |
| 2023 | 4.76% | 74.05% | 0.03x | 1.88x | CA$-4.20 Million |
| 2024 | -6.19% | -113.87% | 0.03x | 2.04x | CA$-18.35 Million |
Industry Comparison
This section compares Real Estate & E-Commerce Split Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $398,436,303
- Average return on equity (ROE) among peers: -4.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Real Estate & E-Commerce Split Corp (RS) | CA$119.03 Million | -1.20% | 1.02x | $63.05K |
| Alaris Equity Partners Income Trust (AD-UN) | $604.54 Million | 1.97% | 0.32x | $616.42 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $4.27 Million | -129.03% | 0.20x | $5.48 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $354.64 Million | 11.23% | 0.49x | $48.58K |
| Bankers Petroleum Ltd (BNK) | $28.51 Million | 46.55% | 0.58x | $113.70K |
| Sprott Physical Gold and Silver Trust (CEF) | $1.20 Billion | -29.28% | 0.00x | $452.56K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $-59.00K | 0.00% | 0.00x | $51.82 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $159.95 Million |
| Dividend Growth Split Corp (DGS) | $296.85 Million | 37.60% | 1.53x | $52.33K |
| E Split Corp Class A (ENS) | $227.99 Million | 17.94% | 0.77x | $118.61K |