TDb Split Corp (XTD) - Net Assets
Based on the latest financial reports, TDb Split Corp (XTD) has net assets worth CA$19.51 Million CAD (≈ $14.11 Million USD) as of May 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$67.07 Million ≈ $48.51 Million USD) and total liabilities (CA$47.56 Million ≈ $34.40 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 XTD capital-intensive asset ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$19.51 Million |
| % of Total Assets | 29.09% |
| Annual Growth Rate | 8.67% |
| 5-Year Change | -14.28% |
| 10-Year Change | -32.14% |
| Growth Volatility | 65.93 |
TDb Split Corp - Net Assets Trend (2008–2024)
This chart illustrates how TDb Split Corp's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see XTD company net worth.
Annual Net Assets for TDb Split Corp (2008–2024)
The table below shows the annual net assets of TDb Split Corp from 2008 to 2024. Also explore XTD shareholders equity momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-11-30 | CA$8.93 Million ≈ $6.46 Million |
-39.82% |
| 2023-11-30 | CA$14.84 Million ≈ $10.74 Million |
-38.44% |
| 2022-11-30 | CA$24.11 Million ≈ $17.44 Million |
-10.39% |
| 2021-11-30 | CA$26.91 Million ≈ $19.46 Million |
+158.22% |
| 2020-11-30 | CA$10.42 Million ≈ $7.54 Million |
-47.32% |
| 2019-11-30 | CA$19.78 Million ≈ $14.31 Million |
-1.58% |
| 2018-11-30 | CA$20.10 Million ≈ $14.54 Million |
-9.56% |
| 2017-11-30 | CA$22.22 Million ≈ $16.07 Million |
+24.32% |
| 2016-11-30 | CA$17.87 Million ≈ $12.93 Million |
+35.80% |
| 2015-11-30 | CA$13.16 Million ≈ $9.52 Million |
-28.05% |
| 2014-11-30 | CA$18.29 Million ≈ $13.23 Million |
+180.22% |
| 2013-11-30 | CA$6.53 Million ≈ $4.72 Million |
+49.26% |
| 2012-11-30 | CA$4.37 Million ≈ $3.16 Million |
+37.70% |
| 2011-11-30 | CA$3.18 Million ≈ $2.30 Million |
-38.82% |
| 2010-11-30 | CA$5.19 Million ≈ $3.76 Million |
+20.21% |
| 2009-11-30 | CA$4.32 Million ≈ $3.12 Million |
+82.94% |
| 2008-11-30 | CA$2.36 Million ≈ $1.71 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to TDb 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 grown by 1324016700.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$8.93 Million | 100.00% |
| Total Equity | CA$8.93 Million | 100.00% |
TDb Split Corp Competitors by Market Cap
The table below lists competitors of TDb Split Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Xiabuxiabu Catering Management (China) Holdings Co. Ltd
F:0XI
|
$29.48 Million |
|
SGA Solutions Co.Ltd
KQ:184230
|
$29.49 Million |
|
V-Tac Technology Co Ltd
TWO:6229
|
$29.50 Million |
|
Silla Textile Co.Ltd
KQ:001000
|
$29.52 Million |
|
Abko Co. Ltd
KQ:129890
|
$29.45 Million |
|
Prodigy Public Company Limited
BK:PDG
|
$29.44 Million |
|
Taya Inv-L
TA:TAYA
|
$29.43 Million |
|
Opticis Company Limited
KQ:109080
|
$29.42 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TDb Split Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 14,842,742 to 8,932,105, a change of -5,910,637 (-39.8%).
- Net loss of 3,177,830 reduced equity.
- Dividend payments of 3,873,984 reduced retained earnings.
- Share repurchases of 3,873,984 reduced equity.
- New share issuances of 8,147,623 increased equity.
- Other factors decreased equity by 3,132,462.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-3.18 Million | -35.58% |
| Dividends Paid | CA$3.87 Million | -43.37% |
| Share Repurchases | CA$3.87 Million | -43.37% |
| Share Issuances | CA$8.15 Million | +91.22% |
| Other Changes | CA$-3.13 Million | -35.07% |
| Total Change | CA$- | -39.82% |
Book Value vs Market Value Analysis
This analysis compares TDb 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: 3.60x
- 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 6.45x to 3.60x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-11-30 | CA$1.35 | CA$8.71 | x |
| 2009-11-30 | CA$2.56 | CA$8.71 | x |
| 2010-11-30 | CA$3.11 | CA$8.71 | x |
| 2011-11-30 | CA$1.91 | CA$8.71 | x |
| 2012-11-30 | CA$2.63 | CA$8.71 | x |
| 2013-11-30 | CA$3.91 | CA$8.71 | x |
| 2014-11-30 | CA$8.72 | CA$8.71 | x |
| 2015-11-30 | CA$3.88 | CA$8.71 | x |
| 2016-11-30 | CA$5.27 | CA$8.71 | x |
| 2017-11-30 | CA$6.55 | CA$8.71 | x |
| 2018-11-30 | CA$5.93 | CA$8.71 | x |
| 2019-11-30 | CA$5.84 | CA$8.71 | x |
| 2020-11-30 | CA$2.13 | CA$8.71 | x |
| 2021-11-30 | CA$4.79 | CA$8.71 | x |
| 2022-11-30 | CA$4.30 | CA$8.71 | x |
| 2023-11-30 | CA$4.30 | CA$8.71 | x |
| 2024-11-30 | CA$2.42 | CA$8.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TDb Split Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -35.58%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.03x
- • Equity Multiplier: 9.88x
- Recent ROE (-35.58%) is below the historical average (-28.46%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -579.45% | 0.00% | -0.62x | 8.50x | CA$-13.92 Million |
| 2009 | 52.01% | 359.18% | 0.03x | 4.95x | CA$1.81 Million |
| 2010 | 32.13% | 246.29% | 0.03x | 4.39x | CA$1.15 Million |
| 2011 | -37.22% | 0.00% | 0.00x | 6.28x | CA$-1.50 Million |
| 2012 | 40.72% | 288.34% | 0.03x | 5.03x | CA$1.34 Million |
| 2013 | 56.63% | 95.96% | 0.16x | 3.76x | CA$3.04 Million |
| 2014 | 23.07% | 85.92% | 0.09x | 2.88x | CA$2.39 Million |
| 2015 | -11.03% | 0.00% | -0.03x | 3.61x | CA$-2.77 Million |
| 2016 | 47.71% | 97.05% | 0.17x | 2.96x | CA$6.74 Million |
| 2017 | 36.73% | 96.23% | 0.15x | 2.55x | CA$5.94 Million |
| 2018 | 8.57% | 83.07% | 0.04x | 2.71x | CA$-286.89K |
| 2019 | 17.66% | 91.45% | 0.07x | 2.73x | CA$1.51 Million |
| 2020 | -145.25% | 0.00% | -0.23x | 5.81x | CA$-16.18 Million |
| 2021 | 67.25% | 97.84% | 0.21x | 3.24x | CA$15.40 Million |
| 2022 | 6.43% | 80.70% | 0.02x | 3.72x | CA$-860.85K |
| 2023 | -64.14% | -139.08% | 0.08x | 5.98x | CA$-11.00 Million |
| 2024 | -35.58% | 0.00% | -0.03x | 9.88x | CA$-4.07 Million |
Industry Comparison
This section compares TDb Split Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,243,754,610
- Average return on equity (ROE) among peers: 6.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TDb Split Corp (XTD) | CA$19.51 Million | -579.45% | 2.44x | $29.46 Million |
| Aberdeen International Inc. (AAB) | $98.80 Million | 2.62% | 0.15x | $2.91 Million |
| Base Carbon Inc. (BCBN) | $134.69 Million | 72.96% | 0.05x | $43.04 Million |
| Canadian Banc Corp (BK) | $73.98 Million | 30.26% | 0.83x | $557.29 Million |
| Brookfield Corporation (BN) | $5.39 Billion | 3.62% | 1.56x | $83.88 Billion |
| Sprott Physical Gold and Silver Trust (CEF) | $3.14 Billion | -2.97% | 0.00x | $8.10 Billion |
| Canadian General Investments Ltd (CGI) | $1.01 Billion | -25.28% | 0.15x | $781.85 Million |
| CI Financial Corp (CIX) | $295.05 Million | -0.71% | 0.80x | $3.32 Billion |
| Culico Metals Inc. (CLCO) | $9.29 Million | -28.44% | 0.18x | $25.70 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $781.26 Million |
| Cymbria Corporation (CYB) | $1.04 Billion | 2.10% | 0.03x | $1.10 Billion |
About TDb Split Corp
TDb Split Corp. is a closed-ended equity mutual fund launched and managed by Quadravest Capital Management Inc. It invests in the public equity markets of Canada. The fund seeks to invest in the stocks of a company operating in the banking sector. It primarily invests in the common shares of Toronto-Dominion Bank. The fund benchmarks the performance of its portfolio against the S&P TSX Financial … Read more