Commerce Split Corp
New Commerce Split Fund is an equity mutual fund launched and managed by Quadravest Capital Management Inc. The fund invests in the equity shares of Canadian Imperial Bank of Commerce. It was formerly known as Commerce Split Fund. New Commerce Split Fund was launched on November 27, 2006 and is domiciled in Canada.
Commerce Split Corp (YCM) - Net Assets
Latest net assets as of May 2024: CA$1.96 Million CAD
Based on the latest financial reports, Commerce Split Corp (YCM) has net assets worth CA$1.96 Million CAD as of May 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$11.00 Million) and total liabilities (CA$9.04 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.96 Million |
| % of Total Assets | 17.81% |
| Annual Growth Rate | -24.35% |
| 5-Year Change | -73.97% |
| 10-Year Change | -91.19% |
| Growth Volatility | 123.91 |
Commerce Split Corp - Net Assets Trend (2007–2023)
This chart illustrates how Commerce Split Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Commerce Split Corp (2007–2023)
The table below shows the annual net assets of Commerce Split Corp from 2007 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-11-30 | CA$627.49K | -71.91% |
| 2022-11-30 | CA$2.23 Million | -42.10% |
| 2021-11-30 | CA$3.86 Million | +143.62% |
| 2020-11-30 | CA$1.58 Million | -34.30% |
| 2019-11-30 | CA$2.41 Million | +5.42% |
| 2018-11-30 | CA$2.29 Million | -43.57% |
| 2017-11-30 | CA$4.05 Million | +49.86% |
| 2016-11-30 | CA$2.70 Million | +25.97% |
| 2015-11-30 | CA$2.15 Million | -69.87% |
| 2014-11-30 | CA$7.13 Million | +123.03% |
| 2013-11-30 | CA$3.19 Million | +360.29% |
| 2012-11-30 | CA$694.12K | +14912.57% |
| 2011-11-30 | CA$-4.69K | -102.57% |
| 2010-11-30 | CA$182.21K | -- |
| 2009-11-30 | CA$0.00 | -- |
| 2008-11-30 | CA$0.00 | -- |
| 2007-11-30 | CA$54.59 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Commerce 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 2384683600.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2023)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$627.49K | 100.00% |
| Total Equity | CA$627.49K | 100.00% |
Commerce Split Corp Competitors by Market Cap
The table below lists competitors of Commerce Split Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
RIVF
PINK:RIVF
|
$55.60K |
|
BBSE3F
SA:BBSE3F
|
$55.61K |
|
PAYPOINT
BE:PAN
|
$55.61K |
|
ALVIR
PA:ALVIR
|
$55.72K |
|
Kalon Acquisition Corp
V:KAC-P
|
$55.56K |
|
LightOn SA
F:I63
|
$55.53K |
|
AOL
WAR:AOL
|
$55.49K |
|
Global Entertainment Holdings Inc
PINK:GBHL
|
$55.46K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Commerce Split Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 2,234,179 to 627,493, a change of -1,606,686 (-71.9%).
- Net loss of 1,029,543 reduced equity.
- Dividend payments of 577,143 reduced retained earnings.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-1.03 Million | -164.07% |
| Dividends Paid | CA$577.14K | -91.98% |
| Total Change | CA$- | -71.91% |
Book Value vs Market Value Analysis
This analysis compares Commerce 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: 11.43x
- 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 increased from 1.27x to 11.43x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-11-30 | CA$6.30 | CA$8.00 | x |
| 2008-11-30 | CA$-8.86 | CA$8.00 | x |
| 2009-11-30 | CA$-9.05 | CA$8.00 | x |
| 2010-11-30 | CA$0.06 | CA$8.00 | x |
| 2011-11-30 | CA$0.00 | CA$8.00 | x |
| 2012-11-30 | CA$0.23 | CA$8.00 | x |
| 2013-11-30 | CA$1.15 | CA$8.00 | x |
| 2014-11-30 | CA$2.78 | CA$8.00 | x |
| 2015-11-30 | CA$1.25 | CA$8.00 | x |
| 2016-11-30 | CA$1.58 | CA$8.00 | x |
| 2017-11-30 | CA$2.45 | CA$8.00 | x |
| 2018-11-30 | CA$1.39 | CA$8.00 | x |
| 2019-11-30 | CA$1.49 | CA$8.00 | x |
| 2020-11-30 | CA$1.77 | CA$8.00 | x |
| 2021-11-30 | CA$4.30 | CA$8.00 | x |
| 2022-11-30 | CA$2.49 | CA$8.00 | x |
| 2023-11-30 | CA$0.70 | CA$8.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Commerce Split Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -164.07%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.09x
- • Equity Multiplier: 15.50x
- Recent ROE (-164.07%) is below the historical average (55.65%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | -36.53% | 0.00% | -0.13x | 2.61x | CA$-25.40 Million |
| 2008 | 0.00% | 0.00% | -0.68x | 0.00x | CA$-45.67 Million |
| 2010 | 676.12% | 166.66% | 0.02x | 192.51x | CA$1.21 Million |
| 2011 | 0.00% | 82.40% | 0.05x | 0.00x | CA$1.21 Million |
| 2012 | 100.68% | 49.79% | 0.05x | 42.00x | CA$629.39K |
| 2013 | 120.21% | 92.40% | 0.13x | 10.17x | CA$3.52 Million |
| 2014 | 68.39% | 73.52% | 0.19x | 5.02x | CA$4.16 Million |
| 2015 | -51.85% | 0.00% | -0.04x | 9.07x | CA$-1.33 Million |
| 2016 | 64.02% | 86.94% | 0.10x | 7.16x | CA$1.46 Million |
| 2017 | 60.79% | 89.94% | 0.13x | 5.13x | CA$2.06 Million |
| 2018 | -26.29% | 0.00% | -0.02x | 8.15x | CA$-829.82K |
| 2019 | 50.56% | 88.46% | 0.07x | 7.80x | CA$977.74K |
| 2020 | -12.40% | -67.50% | 0.03x | 6.74x | CA$-354.72K |
| 2021 | 80.45% | 577.68% | 0.04x | 3.36x | CA$2.72 Million |
| 2022 | -39.59% | -102.65% | 0.08x | 5.11x | CA$-1.11 Million |
| 2023 | -164.07% | 0.00% | -0.09x | 15.50x | CA$-1.09 Million |
Industry Comparison
This section compares Commerce Split Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $398,436,303
- Average return on equity (ROE) among peers: -4.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Commerce Split Corp (YCM) | CA$1.96 Million | -36.53% | 4.61x | $55.59K |
| Alaris Equity Partners Income Trust (AD-UN) | $604.54 Million | 1.97% | 0.32x | $616.42 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $4.27 Million | -129.03% | 0.20x | $5.48 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $354.64 Million | 11.23% | 0.49x | $48.58K |
| Bankers Petroleum Ltd (BNK) | $28.51 Million | 46.55% | 0.58x | $113.70K |
| Sprott Physical Gold and Silver Trust (CEF) | $1.20 Billion | -29.28% | 0.00x | $452.56K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $-59.00K | 0.00% | 0.00x | $51.82 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $159.95 Million |
| Dividend Growth Split Corp (DGS) | $296.85 Million | 37.60% | 1.53x | $52.33K |
| E Split Corp Class A (ENS) | $227.99 Million | 17.94% | 0.77x | $118.61K |