TRX Gold Corporation (TRX) - Net Assets
Based on the latest financial reports, TRX Gold Corporation (TRX) has net assets worth CA$112.43 Million CAD (≈ $81.33 Million USD) as of February 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$158.37 Million ≈ $114.56 Million USD) and total liabilities (CA$45.94 Million ≈ $33.23 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 TRX tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$112.43 Million |
| % of Total Assets | 70.99% |
| Annual Growth Rate | 8.23% |
| 5-Year Change | 23.37% |
| 10-Year Change | 113.26% |
| Growth Volatility | 35.49 |
TRX Gold Corporation - Net Assets Trend (1998–2025)
This chart illustrates how TRX Gold Corporation's net assets have evolved over time, based on quarterly financial data. See TRX Gold Corporation (TRX) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for TRX Gold Corporation (1998–2025)
The table below shows the annual net assets of TRX Gold Corporation from 1998 to 2025. For live valuation and market cap data, see TRX market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-11-30 | CA$57.27 Million ≈ $41.43 Million |
+4.32% |
| 2024-11-30 | CA$54.90 Million ≈ $39.72 Million |
-10.08% |
| 2023-11-30 | CA$61.06 Million ≈ $44.17 Million |
+19.35% |
| 2022-11-30 | CA$51.16 Million ≈ $37.01 Million |
+10.20% |
| 2021-11-30 | CA$46.42 Million ≈ $33.58 Million |
+86.99% |
| 2020-11-30 | CA$24.83 Million ≈ $17.96 Million |
+68.75% |
| 2019-11-30 | CA$14.71 Million ≈ $10.64 Million |
-44.33% |
| 2018-11-30 | CA$26.43 Million ≈ $19.12 Million |
-7.97% |
| 2017-11-30 | CA$28.72 Million ≈ $20.78 Million |
+6.94% |
| 2016-11-30 | CA$26.86 Million ≈ $19.43 Million |
-22.81% |
| 2015-11-30 | CA$34.79 Million ≈ $25.17 Million |
-26.55% |
| 2014-11-30 | CA$47.37 Million ≈ $34.26 Million |
-4.56% |
| 2013-11-30 | CA$49.63 Million ≈ $35.90 Million |
-2.89% |
| 2012-11-30 | CA$51.11 Million ≈ $36.97 Million |
-20.19% |
| 2011-11-30 | CA$64.03 Million ≈ $46.32 Million |
+123.93% |
| 2010-11-30 | CA$28.59 Million ≈ $20.68 Million |
+9.50% |
| 2009-11-30 | CA$26.11 Million ≈ $18.89 Million |
+5.16% |
| 2008-11-30 | CA$24.83 Million ≈ $17.96 Million |
+6.02% |
| 2007-11-30 | CA$23.42 Million ≈ $16.94 Million |
+7.10% |
| 2006-11-30 | CA$21.87 Million ≈ $15.82 Million |
+18.75% |
| 2005-11-30 | CA$18.42 Million ≈ $13.32 Million |
+13.51% |
| 2004-11-30 | CA$16.22 Million ≈ $11.74 Million |
+10.54% |
| 2003-11-30 | CA$14.68 Million ≈ $10.62 Million |
+16.67% |
| 2002-11-30 | CA$12.58 Million ≈ $9.10 Million |
+64.18% |
| 2001-11-30 | CA$7.66 Million ≈ $5.54 Million |
+32.36% |
| 2000-11-30 | CA$5.79 Million ≈ $4.19 Million |
+2.57% |
| 1999-11-30 | CA$5.64 Million ≈ $4.08 Million |
-16.52% |
| 1998-11-30 | CA$6.76 Million ≈ $4.89 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to TRX Gold Corporation'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 11423437699.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (November 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$168.00 Million | 293.33% |
| Other Components | CA$8.78 Million | 15.33% |
| Total Equity | CA$57.27 Million | 100.00% |
TRX Gold Corporation Competitors by Market Cap
The table below lists competitors of TRX Gold Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
908 Devices Inc
NASDAQ:MASS
|
$306.29 Million |
|
Favite Inc
TW:3535
|
$306.34 Million |
|
Polaris Media
OL:POL
|
$306.53 Million |
|
Citizens Financial Services Inc. Common Stock
NASDAQ:CZFS
|
$306.55 Million |
|
Lime Technologies AB (publ)
ST:LIME
|
$306.15 Million |
|
Wanxiang Doneed Co Ltd
SHG:600371
|
$306.12 Million |
|
Jiangsu Fengshan Group Co Ltd
SHG:603810
|
$306.06 Million |
|
Abeona Therapeutics Inc
NASDAQ:ABEO
|
$306.03 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TRX Gold Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 54,903,000 to 57,273,000, a change of 2,370,000 (4.3%).
- Net income of 687,000 contributed positively to equity growth.
- Other factors increased equity by 1,683,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$687.00K | +1.2% |
| Other Changes | CA$1.68 Million | +2.94% |
| Total Change | CA$- | 4.32% |
Book Value vs Market Value Analysis
This analysis compares TRX Gold Corporation'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: 6.47x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 7.01x to 6.47x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-11-30 | CA$0.19 | CA$1.30 | x |
| 1999-11-30 | CA$0.15 | CA$1.30 | x |
| 2000-11-30 | CA$0.14 | CA$1.30 | x |
| 2001-11-30 | CA$0.15 | CA$1.30 | x |
| 2002-11-30 | CA$0.17 | CA$1.30 | x |
| 2003-11-30 | CA$0.19 | CA$1.30 | x |
| 2004-11-30 | CA$0.20 | CA$1.30 | x |
| 2005-11-30 | CA$0.22 | CA$1.30 | x |
| 2006-11-30 | CA$0.25 | CA$1.30 | x |
| 2007-11-30 | CA$0.27 | CA$1.30 | x |
| 2008-11-30 | CA$0.28 | CA$1.30 | x |
| 2009-11-30 | CA$0.29 | CA$1.30 | x |
| 2010-11-30 | CA$0.31 | CA$1.30 | x |
| 2011-11-30 | CA$0.68 | CA$1.30 | x |
| 2012-11-30 | CA$0.51 | CA$1.30 | x |
| 2013-11-30 | CA$0.47 | CA$1.30 | x |
| 2014-11-30 | CA$0.45 | CA$1.30 | x |
| 2015-11-30 | CA$0.33 | CA$1.30 | x |
| 2016-11-30 | CA$0.24 | CA$1.30 | x |
| 2017-11-30 | CA$0.24 | CA$1.30 | x |
| 2018-11-30 | CA$0.21 | CA$1.30 | x |
| 2019-11-30 | CA$0.10 | CA$1.30 | x |
| 2020-11-30 | CA$0.15 | CA$1.30 | x |
| 2021-11-30 | CA$0.21 | CA$1.30 | x |
| 2022-11-30 | CA$0.18 | CA$1.30 | x |
| 2023-11-30 | CA$0.19 | CA$1.30 | x |
| 2024-11-30 | CA$0.20 | CA$1.30 | x |
| 2025-11-30 | CA$0.20 | CA$1.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TRX Gold Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.20%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.19%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 2.05x
- Recent ROE (1.20%) is above the historical average (-20.13%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | -11.44% | -122756947.62% | 0.00x | 1.01x | CA$-1.45 Million |
| 1999 | -27.70% | -116672017.91% | 0.00x | 1.04x | CA$-2.13 Million |
| 2000 | -40.01% | -170316994.12% | 0.00x | 1.06x | CA$-2.90 Million |
| 2001 | -6.68% | 0.00% | 0.00x | 1.05x | CA$-1.28 Million |
| 2002 | -6.86% | 0.00% | 0.00x | 1.07x | CA$-2.12 Million |
| 2003 | -14.84% | 0.00% | 0.00x | 1.05x | CA$-3.65 Million |
| 2004 | -7.59% | 0.00% | 0.00x | 1.04x | CA$-2.85 Million |
| 2005 | -13.40% | 0.00% | 0.00x | 1.02x | CA$-4.31 Million |
| 2006 | -17.90% | 0.00% | 0.00x | 1.03x | CA$-6.10 Million |
| 2007 | -15.85% | 0.00% | 0.00x | 1.03x | CA$-6.05 Million |
| 2008 | -14.02% | 0.00% | 0.00x | 1.02x | CA$-5.96 Million |
| 2009 | -16.54% | 0.00% | 0.00x | 1.02x | CA$-6.93 Million |
| 2010 | -11.30% | 0.00% | 0.00x | 1.08x | CA$-6.09 Million |
| 2011 | -16.31% | 0.00% | 0.00x | 1.09x | CA$-16.84 Million |
| 2012 | -17.53% | 0.00% | 0.00x | 1.25x | CA$-14.07 Million |
| 2013 | -6.01% | 0.00% | 0.00x | 1.16x | CA$-7.63 Million |
| 2014 | -3.97% | 0.00% | 0.00x | 1.06x | CA$-6.41 Million |
| 2015 | -19.92% | 0.00% | 0.00x | 1.19x | CA$-10.07 Million |
| 2016 | -37.38% | 0.00% | 0.00x | 1.48x | CA$-12.23 Million |
| 2017 | -16.87% | 0.00% | 0.00x | 1.45x | CA$-7.53 Million |
| 2018 | -21.38% | 0.00% | 0.00x | 1.58x | CA$-8.12 Million |
| 2019 | -156.34% | 0.00% | 0.00x | 2.00x | CA$-23.75 Million |
| 2020 | -57.17% | 0.00% | 0.00x | 1.52x | CA$-16.86 Million |
| 2021 | -6.48% | 0.00% | 0.00x | 1.18x | CA$-7.91 Million |
| 2022 | -4.76% | -15.38% | 0.21x | 1.47x | CA$-7.20 Million |
| 2023 | 4.17% | 5.87% | 0.46x | 1.56x | CA$-3.14 Million |
| 2024 | -0.86% | -1.14% | 0.42x | 1.80x | CA$-5.96 Million |
| 2025 | 1.20% | 1.19% | 0.49x | 2.05x | CA$-5.04 Million |
Industry Comparison
This section compares TRX Gold Corporation's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $539,542,397
- Average return on equity (ROE) among peers: -10.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TRX Gold Corporation (TRX) | CA$112.43 Million | -11.44% | 0.41x | $306.27 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $3.23 Billion |
| Abcourt Mines Inc. (ABI) | $19.90 Million | -2.53% | 0.04x | $60.24 Million |
| Barrick Gold Corp (ABX) | $-1.58 Billion | 0.00% | 0.00x | $66.73 Billion |
| American Eagle Gold Corp (AE) | $-27.08K | 0.00% | 0.00x | $133.81 Million |
| Agnico Eagle Mines Limited (AEM) | $4.07 Billion | 2.04% | 0.68x | $81.75 Billion |
| Alamos Gold Inc (AGI) | $2.74 Billion | -2.44% | 0.32x | $15.18 Billion |
| AIS Resources Ltd (AIS) | $2.21 Million | -2.69% | 0.02x | $2.79 Million |
| Alliance Mining Corp (ALM) | $-2.44 Million | 0.00% | 0.00x | $1.58 Million |
| Altamira Gold Corp (ALTA) | $843.17K | -85.09% | 0.54x | $35.39 Million |
| Almaden Minerals Ltd (AMM) | $35.98 Million | -3.18% | 0.06x | $24.82 Million |
About TRX Gold Corporation
TRX Gold Corporation engages in the exploration, development, and production of mineral property in Tanzania. Its flagship project is the Buckreef Gold Project in Tanzania. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022. The company was incorporated in 1990 and is based in Oakville, Canada.