Tidewater Midstream and Infrastructure Ltd (TWM) - Net Assets
Based on the latest financial reports, Tidewater Midstream and Infrastructure Ltd (TWM) has net assets worth CA$196.70 Million CAD (≈ $142.29 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$1.17 Billion ≈ $843.32 Million USD) and total liabilities (CA$969.10 Million ≈ $701.03 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 TWM intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$196.70 Million |
| % of Total Assets | 16.87% |
| Annual Growth Rate | 0.39% |
| 5-Year Change | -66.22% |
| 10-Year Change | -42.09% |
| Growth Volatility | 36.24 |
Tidewater Midstream and Infrastructure Ltd - Net Assets Trend (2015–2025)
This chart illustrates how Tidewater Midstream and Infrastructure Ltd's net assets have evolved over time, based on quarterly financial data. See TWM defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tidewater Midstream and Infrastructure Ltd (2015–2025)
The table below shows the annual net assets of Tidewater Midstream and Infrastructure Ltd from 2015 to 2025. For live valuation and market cap data, see Tidewater Midstream and Infrastructure L (TWM) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$217.10 Million ≈ $157.05 Million |
-34.80% |
| 2024-12-31 | CA$333.00 Million ≈ $240.89 Million |
-2.20% |
| 2023-12-31 | CA$340.50 Million ≈ $246.31 Million |
-54.37% |
| 2022-12-31 | CA$746.30 Million ≈ $539.86 Million |
+16.11% |
| 2021-12-31 | CA$642.75 Million ≈ $464.96 Million |
+49.92% |
| 2020-12-31 | CA$428.73 Million ≈ $310.14 Million |
-5.16% |
| 2019-12-31 | CA$452.04 Million ≈ $327.00 Million |
-1.22% |
| 2018-12-31 | CA$457.60 Million ≈ $331.02 Million |
+3.67% |
| 2017-12-31 | CA$441.41 Million ≈ $319.31 Million |
+17.74% |
| 2016-12-31 | CA$374.92 Million ≈ $271.21 Million |
+79.55% |
| 2015-12-31 | CA$208.80 Million ≈ $151.05 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tidewater Midstream and Infrastructure 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 7997.2% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$544.00 Million | 298.57% |
| Other Comprehensive Income | CA$29.90 Million | 16.41% |
| Total Equity | CA$182.20 Million | 100.00% |
Tidewater Midstream and Infrastructure Ltd Competitors by Market Cap
The table below lists competitors of Tidewater Midstream and Infrastructure Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Transportadora de Gas del Norte SA Class C
BA:TGNO4
|
$260.39 Million |
|
MSP Steel & Power Limited
NSE:MSPL
|
$260.39 Million |
|
Columbus Circle Capital Corp I Class A Ordinary Shares
NASDAQ:CCCM
|
$260.39 Million |
|
Darwin Precisions Corp
TW:6120
|
$260.43 Million |
|
Pecca Group Bhd
KLSE:5271
|
$260.10 Million |
|
Shenzhen Auto Electric Power Plant Co Ltd
SHE:002227
|
$260.00 Million |
|
CyberTAN Technology Inc
TW:3062
|
$259.97 Million |
|
Ceragon Networks Ltd
NASDAQ:CRNT
|
$259.96 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tidewater Midstream and Infrastructure Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 290,600,000 to 182,200,000, a change of -108,400,000 (-37.3%).
- Net loss of 112,200,000 reduced equity.
- Other comprehensive income increased equity by 3,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-112.20 Million | -61.58% |
| Other Comprehensive Income | CA$3.30 Million | +1.81% |
| Other Changes | CA$500.00K | +0.27% |
| Total Change | CA$- | -37.30% |
Book Value vs Market Value Analysis
This analysis compares Tidewater Midstream and Infrastructure 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: 1.96x
- 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 21.22x to 1.96x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | CA$0.78 | CA$16.50 | x |
| 2016-12-31 | CA$1.40 | CA$16.50 | x |
| 2017-12-31 | CA$1.31 | CA$16.50 | x |
| 2018-12-31 | CA$1.33 | CA$16.50 | x |
| 2019-12-31 | CA$1.35 | CA$16.50 | x |
| 2020-12-31 | CA$1.26 | CA$16.50 | x |
| 2021-12-31 | CA$1.50 | CA$16.50 | x |
| 2022-12-31 | CA$1.85 | CA$16.50 | x |
| 2023-12-31 | CA$0.72 | CA$16.50 | x |
| 2024-12-31 | CA$0.68 | CA$16.50 | x |
| 2025-12-31 | CA$8.44 | CA$16.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tidewater Midstream and Infrastructure Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -61.58%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.51%
- • Asset Turnover: 1.19x
- • Equity Multiplier: 6.07x
- Recent ROE (-61.58%) is below the historical average (-16.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 4.05% | 39.27% | 0.07x | 1.43x | CA$-12.41 Million |
| 2016 | 4.04% | 13.76% | 0.19x | 1.55x | CA$-22.36 Million |
| 2017 | 2.91% | 5.80% | 0.24x | 2.12x | CA$-31.29 Million |
| 2018 | 4.49% | 6.27% | 0.26x | 2.72x | CA$-24.95 Million |
| 2019 | -3.45% | -2.24% | 0.34x | 4.52x | CA$-60.36 Million |
| 2020 | -8.24% | -3.59% | 0.53x | 4.37x | CA$-77.85 Million |
| 2021 | 11.59% | 4.21% | 0.86x | 3.20x | CA$9.83 Million |
| 2022 | 2.69% | 0.66% | 1.26x | 3.23x | CA$-51.43 Million |
| 2023 | -126.15% | -17.47% | 1.38x | 5.24x | CA$-416.49 Million |
| 2024 | -9.15% | -1.62% | 1.32x | 4.27x | CA$-55.66 Million |
| 2025 | -61.58% | -8.51% | 1.19x | 6.07x | CA$-130.42 Million |
Industry Comparison
This section compares Tidewater Midstream and Infrastructure Ltd's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $5,029,168,158
- Average return on equity (ROE) among peers: 11.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tidewater Midstream and Infrastructure Ltd (TWM) | CA$196.70 Million | 4.05% | 4.93x | $260.24 Million |
| AltaGas Ltd (ALA) | $7.64 Billion | -5.69% | 2.07x | $12.10 Billion |
| Enbridge Inc (ENB) | $7.99 Billion | 19.55% | 2.53x | $123.10 Billion |
| Gibson Energy Inc. (GEI) | $758.23 Million | 19.92% | 2.71x | $3.60 Billion |
| Keyera Corp. (KEY) | $2.48 Billion | 11.69% | 1.37x | $9.40 Billion |
| Pembina Pipeline Corp (PPL) | $15.81 Billion | 11.23% | 1.06x | $27.75 Billion |
| South Bow Corporation (SOBO) | $2.70 Billion | 16.29% | 3.13x | $7.80 Billion |
| Source Rock Royalties Ltd (SRR) | $27.44 Million | 9.32% | 0.05x | $32.97 Million |
| Topaz Energy Corp (TPZ) | $1.36 Billion | 7.29% | 0.39x | $3.45 Billion |
| TC Energy Corp (TRP) | $6.49 Billion | 10.57% | 2.07x | $72.66 Billion |
About Tidewater Midstream and Infrastructure Ltd
Tidewater Midstream and Infrastructure Ltd. operates as a downstream, midstream, and infrastructure company in Western Canada and the United States. It primarily focuses on processing natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services, as well as refining of light oil. The company also engages in the sale of refined products, including low su… Read more