Maritime Resources Corp. (MAE) - Net Assets
Based on the latest financial reports, Maritime Resources Corp. (MAE) has net assets worth CA$63.64 Million CAD as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$81.96 Million) and total liabilities (CA$18.32 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$63.64 Million |
| % of Total Assets | 77.65% |
| Annual Growth Rate | 39.4% |
| 5-Year Change | 70.93% |
| 10-Year Change | 910.64% |
| Growth Volatility | 124.06 |
Maritime Resources Corp. - Net Assets Trend (2007–2024)
This chart illustrates how Maritime Resources 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 Maritime Resources Corp. (2007–2024)
The table below shows the annual net assets of Maritime Resources Corp. from 2007 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$42.55 Million | +9.18% |
| 2023-12-31 | CA$38.97 Million | +2.88% |
| 2022-12-31 | CA$37.88 Million | +5.49% |
| 2021-12-31 | CA$35.91 Million | +44.24% |
| 2020-12-31 | CA$24.89 Million | +83.51% |
| 2019-12-31 | CA$13.57 Million | +36.52% |
| 2018-12-31 | CA$9.94 Million | +58.20% |
| 2017-12-31 | CA$6.28 Million | +5.18% |
| 2016-12-31 | CA$5.97 Million | +41.83% |
| 2015-12-31 | CA$4.21 Million | -10.45% |
| 2014-12-31 | CA$4.70 Million | +4.06% |
| 2013-12-31 | CA$4.52 Million | +5.05% |
| 2012-12-31 | CA$4.30 Million | +42.27% |
| 2011-12-31 | CA$3.02 Million | +468.98% |
| 2009-12-31 | CA$531.34K | -7.79% |
| 2008-12-31 | CA$576.25K | +284.17% |
| 2007-12-31 | CA$150.00K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Maritime Resources 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 decreased by 2216206200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$64.71 Million | 152.08% |
| Total Equity | CA$42.55 Million | 100.00% |
Maritime Resources Corp. Competitors by Market Cap
The table below lists competitors of Maritime Resources Corp. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Midnight Sun Mining Corp
V:MMA
|
$201.00 Million |
|
Microvision Inc
NASDAQ:MVIS
|
$201.07 Million |
|
Rubellite Energy Inc
TO:RBY
|
$201.08 Million |
|
Hua Na Hydropower JSC
VN:HNA
|
$201.09 Million |
|
Bergbahnen Engelberg Truebsee Titlis Bet AG
SW:TIBN
|
$200.93 Million |
|
Steel Pipe Industry Of Indonesia
JK:ISSP
|
$200.81 Million |
|
Zur Shamir Holdings Ltd
TA:ZUR
|
$200.71 Million |
|
RCI Hospitality Holdings Inc
NASDAQ:RICK
|
$200.66 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Maritime Resources Corp.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 38,972,529 to 42,551,252, a change of 3,578,723 (9.2%).
- Net loss of 6,929,282 reduced equity.
- New share issuances of 10,500,000 increased equity.
- Other comprehensive income decreased equity by 2,716,166.
- Other factors increased equity by 2,724,171.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-6.93 Million | -16.28% |
| Share Issuances | CA$10.50 Million | +24.68% |
| Other Comprehensive Income | CA$-2.72 Million | -6.38% |
| Other Changes | CA$2.72 Million | +6.4% |
| Total Change | CA$- | 9.18% |
Book Value vs Market Value Analysis
This analysis compares Maritime Resources 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: 4.37x
- 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 22.40x to 4.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | CA$0.10 | CA$2.24 | x |
| 2008-12-31 | CA$0.36 | CA$2.24 | x |
| 2009-12-31 | CA$0.18 | CA$2.24 | x |
| 2011-12-31 | CA$0.14 | CA$2.24 | x |
| 2012-12-31 | CA$0.15 | CA$2.24 | x |
| 2013-12-31 | CA$0.15 | CA$2.24 | x |
| 2014-12-31 | CA$0.14 | CA$2.24 | x |
| 2015-12-31 | CA$0.12 | CA$2.24 | x |
| 2016-12-31 | CA$0.12 | CA$2.24 | x |
| 2017-12-31 | CA$0.10 | CA$2.24 | x |
| 2018-12-31 | CA$0.11 | CA$2.24 | x |
| 2019-12-31 | CA$0.08 | CA$2.24 | x |
| 2020-12-31 | CA$0.10 | CA$2.24 | x |
| 2021-12-31 | CA$0.10 | CA$2.24 | x |
| 2022-12-31 | CA$0.09 | CA$2.24 | x |
| 2023-12-31 | CA$0.07 | CA$2.24 | x |
| 2024-12-31 | CA$0.51 | CA$2.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Maritime Resources Corp. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -16.28%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.34x
- Recent ROE (-16.28%) is below the historical average (-12.78%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -18.91% | 0.00% | 0.00x | 1.04x | CA$-166.59K |
| 2009 | -8.45% | 0.00% | 0.00x | 1.00x | CA$-98.04K |
| 2011 | -2.24% | 0.00% | 0.00x | 1.04x | CA$-370.07K |
| 2012 | -9.57% | 0.00% | 0.00x | 1.12x | CA$-841.85K |
| 2013 | -13.21% | 0.00% | 0.00x | 1.06x | CA$-1.05 Million |
| 2014 | -11.80% | 0.00% | 0.00x | 1.06x | CA$-1.02 Million |
| 2015 | -16.08% | 0.00% | 0.00x | 1.17x | CA$-1.10 Million |
| 2016 | -23.24% | 0.00% | 0.00x | 1.09x | CA$-1.98 Million |
| 2017 | -24.12% | 0.00% | 0.00x | 1.10x | CA$-2.14 Million |
| 2018 | -24.81% | 0.00% | 0.00x | 1.03x | CA$-3.46 Million |
| 2019 | -14.78% | 0.00% | 0.00x | 1.04x | CA$-3.36 Million |
| 2020 | -5.22% | 0.00% | 0.00x | 1.05x | CA$-3.79 Million |
| 2021 | -4.50% | 0.00% | 0.00x | 1.06x | CA$-5.21 Million |
| 2022 | -4.72% | 0.00% | 0.00x | 1.05x | CA$-5.58 Million |
| 2023 | -6.53% | 0.00% | 0.00x | 1.36x | CA$-6.44 Million |
| 2024 | -16.28% | 0.00% | 0.00x | 1.34x | CA$-11.18 Million |
Industry Comparison
This section compares Maritime Resources Corp.'s net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $25,011,639
- Average return on equity (ROE) among peers: -23.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Maritime Resources Corp. (MAE) | CA$63.64 Million | -18.91% | 0.29x | $200.98 Million |
| Abcourt Mines Inc. (ABI) | $27.66 Million | -3.28% | 0.35x | $86.06 Million |
| Athabasca Minerals Inc (ABM) | $13.38 Million | -3.65% | 0.02x | $3.68 Million |
| American Eagle Gold Corp (AE) | $830.83K | -165.75% | 0.05x | $148.82 Million |
| Aero Energy Limited (AERO) | $14.72 Million | -5.86% | 0.05x | $9.68 Million |
| AIS Resources Ltd (AIS) | $518.31K | -0.04% | 0.11x | $1.76 Million |
| Algo Grande Copper Corp. (ALGR) | $-251.88K | 0.00% | 0.00x | $9.71 Million |
| Alkane Resources Limited (ALK) | $191.56 Million | 29.08% | 0.23x | $985.87 Million |
| Alliance Mining Corp (ALM) | $-3.10 Million | 0.00% | 0.00x | $1.58 Million |
| Altamira Gold Corp (ALTA) | $822.20K | -78.33% | 0.24x | $38.60 Million |
| Argus Metals Corp. (AML) | $3.98 Million | -5.17% | 0.10x | $1.59 Million |
About Maritime Resources Corp.
Maritime Resources Corp., a junior gold and base metals exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada. It primarily explores for gold, lead, zinc, coper, and silver deposit. The company was incorporated in 2007 and is based in Vancouver, Canada.