Velan Inc. (VLN) - Net Assets
Based on the latest financial reports, Velan Inc. (VLN) has net assets worth CA$167.04 Million CAD (≈ $120.84 Million USD) as of May 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$317.43 Million ≈ $229.62 Million USD) and total liabilities (CA$150.39 Million ≈ $108.79 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 VLN strategic asset allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$167.04 Million |
| % of Total Assets | 52.62% |
| Annual Growth Rate | 2.18% |
| 5-Year Change | -31.47% |
| 10-Year Change | -45.18% |
| Growth Volatility | 20.63 |
Velan Inc. - Net Assets Trend (1997–2026)
This chart illustrates how Velan Inc.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Velan Inc. (VLN) total market value.
Annual Net Assets for Velan Inc. (1997–2026)
The table below shows the annual net assets of Velan Inc. from 1997 to 2026. Also explore VLN year-over-year net asset growth to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-02-28 | CA$181.94 Million ≈ $131.61 Million |
+84.27% |
| 2025-02-28 | CA$98.74 Million ≈ $71.43 Million |
-46.12% |
| 2024-02-29 | CA$183.26 Million ≈ $132.57 Million |
-8.75% |
| 2023-02-28 | CA$200.84 Million ≈ $145.28 Million |
-24.36% |
| 2022-02-28 | CA$265.51 Million ≈ $192.07 Million |
-11.56% |
| 2021-02-28 | CA$300.22 Million ≈ $217.18 Million |
+5.39% |
| 2020-02-29 | CA$284.86 Million ≈ $206.06 Million |
-7.76% |
| 2019-02-28 | CA$308.83 Million ≈ $223.41 Million |
-3.97% |
| 2018-02-28 | CA$321.62 Million ≈ $232.65 Million |
-3.10% |
| 2017-02-28 | CA$331.91 Million ≈ $240.10 Million |
-0.36% |
| 2016-02-29 | CA$333.12 Million ≈ $240.97 Million |
-3.47% |
| 2015-02-28 | CA$345.09 Million ≈ $249.63 Million |
-3.91% |
| 2014-02-28 | CA$359.12 Million ≈ $259.78 Million |
+9.43% |
| 2013-02-28 | CA$328.17 Million ≈ $237.40 Million |
-2.21% |
| 2012-02-29 | CA$335.58 Million ≈ $242.75 Million |
-4.50% |
| 2011-02-28 | CA$351.38 Million ≈ $254.18 Million |
+5.42% |
| 2010-02-28 | CA$333.30 Million ≈ $241.11 Million |
+17.56% |
| 2008-02-29 | CA$283.51 Million ≈ $205.09 Million |
+14.80% |
| 2007-02-28 | CA$246.96 Million ≈ $178.65 Million |
+12.31% |
| 2006-02-28 | CA$219.90 Million ≈ $159.07 Million |
+16.14% |
| 2005-02-28 | CA$189.34 Million ≈ $136.96 Million |
+3.57% |
| 2004-02-29 | CA$182.81 Million ≈ $132.24 Million |
-2.59% |
| 2003-02-28 | CA$187.66 Million ≈ $135.75 Million |
+13.35% |
| 2002-02-28 | CA$165.57 Million ≈ $119.77 Million |
+1.66% |
| 2001-02-28 | CA$162.86 Million ≈ $117.81 Million |
+5.87% |
| 2000-02-29 | CA$153.83 Million ≈ $111.27 Million |
+9.26% |
| 1999-02-28 | CA$140.79 Million ≈ $101.85 Million |
+22.44% |
| 1998-02-28 | CA$114.99 Million ≈ $83.18 Million |
+18.10% |
| 1997-02-28 | CA$97.37 Million ≈ $70.44 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Velan 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 grown by 953.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (February 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$131.45 Million | 72.50% |
| Common Stock | CA$72.63 Million | 40.06% |
| Other Comprehensive Income | CA$-29.11 Million | -16.06% |
| Other Components | CA$6.35 Million | 3.50% |
| Total Equity | CA$181.32 Million | 100.00% |
Velan Inc. Competitors by Market Cap
The table below lists competitors of Velan Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
G J Steel Public Company Limited
BK:GJS
|
$79.44 Million |
|
Life Settlement Assets PLC
LSE:LSAA
|
$79.46 Million |
|
Say Yenilenebilir Enerji Ekipmanları Sanayi ve Ticaret Anonim Şirketi
IS:SAYAS
|
$79.49 Million |
|
Antalpha Platform Holding Co
NASDAQ:ANTA
|
$79.49 Million |
|
Azaria Rental SOCIMI S.A.
MC:YAZR
|
$79.42 Million |
|
Fortress Biotech Inc
NASDAQ:FBIO
|
$79.39 Million |
|
Inpro SA
WAR:INP
|
$79.34 Million |
|
Vera Bradley Inc
NASDAQ:VRA
|
$79.34 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Velan Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 97,861,000 to 181,316,500, a change of 83,455,500 (85.3%).
- Net income of 172,524,590 contributed positively to equity growth.
- Dividend payments of 8,430,410 reduced retained earnings.
- Other comprehensive income increased equity by 18,026,772.
- Other factors decreased equity by 98,665,452.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$172.52 Million | +95.15% |
| Dividends Paid | CA$8.43 Million | -4.65% |
| Other Comprehensive Income | CA$18.03 Million | +9.94% |
| Other Changes | CA$-98.67 Million | -54.42% |
| Total Change | CA$- | 85.28% |
Book Value vs Market Value Analysis
This analysis compares Velan 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: 2.17x
- 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 4.88x to 2.17x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-02-28 | CA$3.74 | CA$18.24 | x |
| 1998-02-28 | CA$5.08 | CA$18.24 | x |
| 1999-02-28 | CA$6.21 | CA$18.24 | x |
| 2000-02-29 | CA$6.79 | CA$18.24 | x |
| 2001-02-28 | CA$7.20 | CA$18.24 | x |
| 2002-02-28 | CA$7.40 | CA$18.24 | x |
| 2003-02-28 | CA$8.35 | CA$18.24 | x |
| 2004-02-29 | CA$8.14 | CA$18.24 | x |
| 2005-02-28 | CA$8.40 | CA$18.24 | x |
| 2006-02-28 | CA$9.67 | CA$18.24 | x |
| 2007-02-28 | CA$10.75 | CA$18.24 | x |
| 2008-02-29 | CA$12.26 | CA$18.24 | x |
| 2010-02-28 | CA$14.74 | CA$18.24 | x |
| 2011-02-28 | CA$15.68 | CA$18.24 | x |
| 2012-02-29 | CA$14.74 | CA$18.24 | x |
| 2013-02-28 | CA$14.50 | CA$18.24 | x |
| 2014-02-28 | CA$16.05 | CA$18.24 | x |
| 2015-02-28 | CA$15.42 | CA$18.24 | x |
| 2016-02-29 | CA$14.98 | CA$18.24 | x |
| 2017-02-28 | CA$14.98 | CA$18.24 | x |
| 2018-02-28 | CA$14.60 | CA$18.24 | x |
| 2019-02-28 | CA$14.10 | CA$18.24 | x |
| 2020-02-29 | CA$13.01 | CA$18.24 | x |
| 2021-02-28 | CA$13.76 | CA$18.24 | x |
| 2022-02-28 | CA$12.27 | CA$18.24 | x |
| 2023-02-28 | CA$9.26 | CA$18.24 | x |
| 2024-02-29 | CA$8.44 | CA$18.24 | x |
| 2025-02-28 | CA$4.53 | CA$18.24 | x |
| 2026-02-28 | CA$8.40 | CA$18.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Velan 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): 95.15%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 57.26%
- • Asset Turnover: 0.87x
- • Equity Multiplier: 1.91x
- Recent ROE (95.15%) is above the historical average (3.68%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 21.54% | 11.64% | 1.17x | 1.59x | CA$11.23 Million |
| 1998 | 20.42% | 12.02% | 1.11x | 1.53x | CA$11.98 Million |
| 1999 | 18.88% | 12.71% | 1.05x | 1.41x | CA$12.51 Million |
| 2000 | 13.75% | 9.85% | 1.03x | 1.35x | CA$5.76 Million |
| 2001 | 12.52% | 9.75% | 1.02x | 1.26x | CA$4.11 Million |
| 2002 | 7.10% | 6.23% | 0.90x | 1.26x | CA$-4.80 Million |
| 2003 | 2.89% | 2.61% | 0.89x | 1.24x | CA$-13.27 Million |
| 2004 | -1.16% | -1.09% | 0.82x | 1.30x | CA$-20.26 Million |
| 2005 | 0.23% | 0.17% | 0.97x | 1.40x | CA$-18.32 Million |
| 2006 | 2.43% | 1.60% | 1.04x | 1.46x | CA$-16.35 Million |
| 2007 | 7.17% | 4.40% | 1.02x | 1.60x | CA$-6.78 Million |
| 2008 | 4.59% | 2.65% | 1.00x | 1.73x | CA$-14.81 Million |
| 2010 | 10.26% | 7.62% | 0.91x | 1.48x | CA$860.62K |
| 2011 | 1.71% | 1.50% | 0.75x | 1.53x | CA$-28.89 Million |
| 2012 | 2.41% | 1.81% | 0.73x | 1.84x | CA$-24.84 Million |
| 2013 | 1.93% | 1.23% | 0.81x | 1.94x | CA$-25.78 Million |
| 2014 | 8.35% | 6.01% | 0.78x | 1.77x | CA$-5.81 Million |
| 2015 | 5.49% | 4.08% | 0.82x | 1.65x | CA$-15.28 Million |
| 2016 | 1.11% | 0.85% | 0.83x | 1.57x | CA$-29.12 Million |
| 2017 | 2.38% | 2.33% | 0.64x | 1.60x | CA$-24.80 Million |
| 2018 | -5.97% | -5.58% | 0.63x | 1.71x | CA$-50.48 Million |
| 2019 | -1.77% | -1.47% | 0.70x | 1.72x | CA$-35.87 Million |
| 2020 | -5.90% | -4.47% | 0.69x | 1.92x | CA$-44.72 Million |
| 2021 | 0.74% | 0.73% | 0.52x | 1.96x | CA$-27.51 Million |
| 2022 | -3.87% | -2.49% | 0.81x | 1.92x | CA$-36.74 Million |
| 2023 | -27.74% | -14.97% | 0.78x | 2.39x | CA$-75.45 Million |
| 2024 | -10.83% | -5.69% | 0.72x | 2.63x | CA$-37.95 Million |
| 2025 | -77.15% | -25.58% | 0.59x | 5.13x | CA$-85.29 Million |
| 2026 | 95.15% | 57.26% | 0.87x | 1.91x | CA$154.39 Million |
Industry Comparison
This section compares Velan Inc.'s net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $73,064,098
- Average return on equity (ROE) among peers: -59.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Velan Inc. (VLN) | CA$167.04 Million | 21.54% | 0.90x | $79.42 Million |
| ATS CORP (ATS) | $548.21 Million | 0.43% | 0.30x | $1.90 Billion |
| Composite Alliance Group Inc (CAG) | $-525.12K | 0.00% | 0.00x | $797.41K |
| CLEANTEK Industries Inc (CTEK) | $401.00K | -454.61% | 37.06x | $13.78 Million |
| DynaCERT Inc. (DYA) | $4.08 Million | -121.82% | 2.32x | $40.45 Million |
| EnWave Corporation (ENW) | $28.35 Million | -15.66% | 0.43x | $18.46 Million |
| Next Hydrogen Solutions Inc. (NXH) | $-1.37 Million | 0.00% | 0.00x | $21.56 Million |
| Reko International Group Inc (REKO) | $60.63 Million | 7.64% | 0.75x | $19.64 Million |
| Savaria Corporation (SIS) | $1.66 Million | 45.75% | 1.02x | $1.52 Billion |
| Titan Logix Corp. (TLA) | $16.14 Million | -0.02% | 0.04x | $9.69 Million |
About Velan Inc.
Velan Inc. designs, manufactures, and markets industrial valves worldwide. It provides quarter-turn valves; gate, globe, and check valves; API 600 cast steel gate, globe, and check valves; corrosion-resistant steel gate, globe, and check valves; API 602 small forged gate, globe, and check valves; API 6D/API 6A through conduit and double expanding gate valves; large forged pressure seal and bolted… Read more