Trican Well Service Ltd. (TCW) - Net Assets

Latest as of December 2025: CA$695.85 Million CAD ≈ $503.37 Million USD

Based on the latest financial reports, Trican Well Service Ltd. (TCW) has net assets worth CA$695.85 Million CAD (≈ $503.37 Million 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$1.01 Billion ≈ $733.31 Million USD) and total liabilities (CA$317.87 Million ≈ $229.94 Million 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 Trican Well Service Ltd. (TCW) asset resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$695.85 Million
% of Total Assets	68.64%
Annual Growth Rate	15.37%
5-Year Change	42.18%
10-Year Change	22.57%
Growth Volatility	37.04

Trican Well Service Ltd. - Net Assets Trend (1996–2025)

This chart illustrates how Trican Well Service Ltd.'s net assets have evolved over time, based on quarterly financial data. Also explore Trican Well Service Ltd. (TCW) total assets for the complete picture of this company's asset base.

Annual Net Assets for Trican Well Service Ltd. (1996–2025)

The table below shows the annual net assets of Trican Well Service Ltd. from 1996 to 2025. For live valuation and market cap data, see TCW company net worth.

Year	Net Assets	Change
2025-12-31	CA$695.85 Million ≈ $503.37 Million	+42.48%
2024-12-31	CA$488.39 Million ≈ $353.30 Million	-5.55%
2023-12-31	CA$517.07 Million ≈ $374.04 Million	+2.46%
2022-12-31	CA$504.67 Million ≈ $365.07 Million	+3.12%
2021-12-31	CA$489.40 Million ≈ $354.02 Million	-0.58%
2020-12-31	CA$492.27 Million ≈ $356.10 Million	-33.58%
2019-12-31	CA$741.11 Million ≈ $536.11 Million	-12.21%
2018-12-31	CA$844.14 Million ≈ $610.64 Million	-28.22%
2017-12-31	CA$1.18 Billion ≈ $850.74 Million	+107.15%
2016-12-31	CA$567.72 Million ≈ $410.68 Million	+2.85%
2015-12-31	CA$552.00 Million ≈ $399.31 Million	-57.08%
2014-12-31	CA$1.29 Billion ≈ $930.44 Million	-4.76%
2013-12-31	CA$1.35 Billion ≈ $976.93 Million	-1.85%
2012-12-31	CA$1.38 Billion ≈ $995.32 Million	+0.76%
2011-12-31	CA$1.37 Billion ≈ $987.82 Million	+35.38%
2010-12-31	CA$1.01 Billion ≈ $729.65 Million	+55.78%
2009-12-31	CA$647.49 Million ≈ $468.38 Million	-10.11%
2008-12-31	CA$720.34 Million ≈ $521.08 Million	+3.79%
2007-12-31	CA$694.05 Million ≈ $502.06 Million	+28.25%
2006-12-31	CA$541.19 Million ≈ $391.49 Million	+49.51%
2005-12-31	CA$361.98 Million ≈ $261.85 Million	+62.22%
2004-12-31	CA$223.15 Million ≈ $161.42 Million	+37.78%
2003-12-31	CA$161.96 Million ≈ $117.16 Million	+31.22%
2002-12-31	CA$123.42 Million ≈ $89.28 Million	+33.30%
2001-12-31	CA$92.59 Million ≈ $66.98 Million	+32.74%
2000-12-31	CA$69.75 Million ≈ $50.46 Million	+39.51%
1999-12-31	CA$50.00 Million ≈ $36.17 Million	+48.81%
1998-12-31	CA$33.60 Million ≈ $24.31 Million	+45.45%
1997-12-31	CA$23.10 Million ≈ $16.71 Million	+110.00%
1996-12-31	CA$11.00 Million ≈ $7.96 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Trican Well Service 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 8567.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	CA$831.08 Million	119.43%
Other Components	CA$67.98 Million	9.77%
Total Equity	CA$695.85 Million	100.00%

Trican Well Service Ltd. Competitors by Market Cap

The table below lists competitors of Trican Well Service Ltd. ranked by their market capitalization.

Company	Market Cap
Blue Sail Medical Co Ltd SHE:002382	$1.10 Billion
Netcare JSE:NTC	$1.10 Billion
Karoon Energy Ltd AU:KAR	$1.10 Billion
SFL Corporation Ltd NYSE:SFL	$1.10 Billion
Oric Pharmaceuticals Inc NASDAQ:ORIC	$1.09 Billion
SBFC Finance Limited NSE:SBFC	$1.09 Billion
T1 Energy Inc. NYSE:TE	$1.09 Billion
Sanjiang Shopping Club Co Ltd SHG:601116	$1.09 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Trican Well Service Ltd.'s equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 488,394,000 to 695,850,000, a change of 207,456,000 (42.5%).
Net income of 112,194,000 contributed positively to equity growth.
Dividend payments of 41,595,000 reduced retained earnings.
Share repurchases of 54,659,000 reduced equity.
Other factors increased equity by 191,516,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$112.19 Million	+16.12%
Dividends Paid	CA$41.59 Million	-5.98%
Share Repurchases	CA$54.66 Million	-7.85%
Other Changes	CA$191.52 Million	+27.52%
Total Change	CA$-	42.48%

Book Value vs Market Value Analysis

This analysis compares Trican Well Service 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: 2.02x
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 31.37x to 2.02x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1996-12-31	CA$0.23	CA$7.19	x
1997-12-31	CA$0.40	CA$7.19	x
1998-12-31	CA$0.47	CA$7.19	x
1999-12-31	CA$0.59	CA$7.19	x
2000-12-31	CA$0.73	CA$7.19	x
2001-12-31	CA$0.94	CA$7.19	x
2002-12-31	CA$1.17	CA$7.19	x
2003-12-31	CA$1.43	CA$7.19	x
2004-12-31	CA$1.95	CA$7.19	x
2005-12-31	CA$3.05	CA$7.19	x
2006-12-31	CA$4.51	CA$7.19	x
2007-12-31	CA$5.54	CA$7.19	x
2008-12-31	CA$5.77	CA$7.19	x
2009-12-31	CA$5.15	CA$7.19	x
2010-12-31	CA$7.28	CA$7.19	x
2011-12-31	CA$9.28	CA$7.19	x
2012-12-31	CA$9.37	CA$7.19	x
2013-12-31	CA$9.05	CA$7.19	x
2014-12-31	CA$8.61	CA$7.19	x
2015-12-31	CA$3.72	CA$7.19	x
2016-12-31	CA$3.30	CA$7.19	x
2017-12-31	CA$4.13	CA$7.19	x
2018-12-31	CA$2.62	CA$7.19	x
2019-12-31	CA$2.57	CA$7.19	x
2020-12-31	CA$1.87	CA$7.19	x
2021-12-31	CA$1.90	CA$7.19	x
2022-12-31	CA$2.05	CA$7.19	x
2023-12-31	CA$2.33	CA$7.19	x
2024-12-31	CA$2.40	CA$7.19	x
2025-12-31	CA$3.55	CA$7.19	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Trican Well Service 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): 16.12%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 10.23%
• Asset Turnover: 1.08x
• Equity Multiplier: 1.46x
Recent ROE (16.12%) is above the historical average (3.12%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1996	3.64%	4.60%	0.69x	1.15x	CA$-700.00K
1997	9.52%	7.83%	0.75x	1.63x	CA$-110.00K
1998	5.36%	4.56%	0.82x	1.44x	CA$-1.56 Million
1999	9.60%	7.77%	0.87x	1.43x	CA$-200.00K
2000	21.24%	11.32%	1.00x	1.87x	CA$7.84 Million
2001	23.62%	12.00%	1.11x	1.77x	CA$12.61 Million
2002	9.25%	7.00%	0.80x	1.65x	CA$-912.00K
2003	22.54%	12.56%	1.13x	1.59x	CA$20.01 Million
2004	32.20%	17.55%	1.17x	1.57x	CA$49.41 Million
2005	36.48%	20.55%	1.20x	1.48x	CA$95.62 Million
2006	31.97%	20.36%	1.14x	1.38x	CA$118.59 Million
2007	16.36%	13.37%	0.80x	1.53x	CA$43.45 Million
2008	-9.78%	-6.93%	0.82x	1.71x	CA$-142.35 Million
2009	-1.32%	-1.05%	0.79x	1.59x	CA$-73.23 Million
2010	15.03%	10.26%	1.02x	1.44x	CA$50.75 Million
2011	24.80%	14.66%	1.04x	1.62x	CA$202.10 Million
2012	3.90%	2.42%	0.92x	1.74x	CA$-83.81 Million
2013	-3.40%	-2.17%	0.88x	1.79x	CA$-180.55 Million
2014	-0.39%	-0.19%	1.07x	1.97x	CA$-133.57 Million
2015	-148.53%	-69.22%	0.91x	2.37x	CA$-877.78 Million
2016	-5.19%	-9.08%	0.36x	1.61x	CA$-86.43 Million
2017	1.21%	1.53%	0.62x	1.28x	CA$-103.40 Million
2018	-27.56%	-25.83%	0.87x	1.23x	CA$-317.07 Million
2019	-9.64%	-11.23%	0.69x	1.25x	CA$-145.55 Million
2020	-47.40%	-58.77%	0.70x	1.14x	CA$-282.54 Million
2021	2.46%	2.14%	0.97x	1.18x	CA$-36.88 Million
2022	15.70%	9.14%	1.29x	1.33x	CA$28.75 Million
2023	23.40%	12.44%	1.37x	1.37x	CA$69.30 Million
2024	22.42%	11.16%	1.44x	1.40x	CA$60.64 Million
2025	16.12%	10.23%	1.08x	1.46x	CA$42.61 Million

Industry Comparison

This section compares Trican Well Service Ltd.'s net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.

Industry Context

Industry: Oil & Gas Equipment & Services
Average net assets among peers: $250,452,260
Average return on equity (ROE) among peers: -15.97%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Trican Well Service Ltd. (TCW)	CA$695.85 Million	3.64%	0.46x	$1.09 Billion
Bri-Chem Corp. (BRY)	$35.24 Million	-40.74%	1.10x	$6.61 Million
CES Energy Solutions Corp (CEU)	$609.05 Million	15.63%	1.32x	$2.92 Billion
Calfrac Well Services Ltd. (CFW)	$328.84 Million	-25.18%	1.72x	$387.05 Million
Enterprise Group Inc (E)	$51.99 Million	-1.80%	0.57x	$83.04 Million
Enerflex Ltd. (EFX)	$1.02 Billion	6.90%	1.10x	$2.31 Billion
HTC Purenergy Inc. (HTC)	$21.80 Million	-16.58%	0.56x	$1.03 Million
High Arctic Energy Services Inc. (HWO)	$115.23 Million	-31.75%	0.16x	$7.90 Million
Mattr Corp (MATR)	$134.80 Million	10.46%	0.33x	$421.70 Million
Mccoy Global Inc (MCB)	$59.80 Million	-60.07%	0.17x	$50.41 Million
North American Construction Group Ltd (NOA)	$127.78 Million	-16.56%	4.87x	$400.31 Million

About Trican Well Service Ltd.

TO:TCW Canada Oil & Gas Equipment & Services

Market Cap

$1.09 Billion

CA$1.51 Billion CAD

Market Cap Rank

#8717 Global

#253 in Canada

Share Price

CA$7.19

Change (1 day)

-0.28%

52-Week Range

CA$4.05 - CA$7.83

All Time High

CA$7.83