Midland Exploration Inc (MD) - Net Assets
Based on the latest financial reports, Midland Exploration Inc (MD) has net assets worth CA$46.34 Million CAD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$48.45 Million) and total liabilities (CA$2.11 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$46.34 Million |
| % of Total Assets | 95.65% |
| Annual Growth Rate | 25.35% |
| 5-Year Change | 16.14% |
| 10-Year Change | 87.14% |
| Growth Volatility | 147.6 |
Midland Exploration Inc - Net Assets Trend (2006–2025)
This chart illustrates how Midland Exploration Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Midland Exploration Inc (2006–2025)
The table below shows the annual net assets of Midland Exploration Inc from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | CA$44.53 Million | +12.67% |
| 2024-09-30 | CA$39.52 Million | -0.65% |
| 2023-09-30 | CA$39.78 Million | +3.88% |
| 2022-09-30 | CA$38.29 Million | -0.12% |
| 2021-09-30 | CA$38.34 Million | +2.23% |
| 2020-09-30 | CA$37.50 Million | -0.14% |
| 2019-09-30 | CA$37.56 Million | +29.02% |
| 2018-09-30 | CA$29.11 Million | +13.45% |
| 2017-09-30 | CA$25.66 Million | +7.83% |
| 2016-09-30 | CA$23.80 Million | +0.84% |
| 2015-09-30 | CA$23.60 Million | +161.28% |
| 2014-09-30 | CA$9.03 Million | -6.05% |
| 2013-09-30 | CA$9.61 Million | +24.30% |
| 2012-09-30 | CA$7.73 Million | +7.42% |
| 2011-09-30 | CA$7.20 Million | +10.64% |
| 2010-09-30 | CA$6.51 Million | +39.99% |
| 2009-09-30 | CA$4.65 Million | +2.72% |
| 2008-09-30 | CA$4.53 Million | -1.90% |
| 2007-09-30 | CA$4.61 Million | +658.27% |
| 2006-09-30 | CA$608.38K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Midland Exploration 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 decreased by 2527198300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$71.51 Million | 160.59% |
| Total Equity | CA$44.53 Million | 100.00% |
Midland Exploration Inc Competitors by Market Cap
The table below lists competitors of Midland Exploration Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GFG Resources Inc
V:GFG
|
$33.92 Million |
|
Network-1 Technologies Inc
NYSE MKT:NTIP
|
$33.92 Million |
|
Formetal Co. Ltd
KQ:119500
|
$33.92 Million |
|
Digital Workforce Services Oyj
HE:DWF
|
$33.93 Million |
|
S P V I Public Company Limited
BK:SPVI
|
$33.91 Million |
|
FACB Industries Incorporated
KLSE:2984
|
$33.91 Million |
|
Samwha Elec
KO:011230
|
$33.90 Million |
|
Neuroone Medical Technologies Corp
NASDAQ:NMTC
|
$33.89 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Midland Exploration Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 39,521,994 to 44,529,697, a change of 5,007,703 (12.7%).
- Net loss of 2,124,246 reduced equity.
- New share issuances of 8,757,950 increased equity.
- Other factors decreased equity by 1,626,001.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-2.12 Million | -4.77% |
| Share Issuances | CA$8.76 Million | +19.67% |
| Other Changes | CA$-1.63 Million | -3.65% |
| Total Change | CA$- | 12.67% |
Book Value vs Market Value Analysis
This analysis compares Midland Exploration 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: 1.00x
- 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 6.84x to 1.00x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-09-30 | CA$0.06 | CA$0.42 | x |
| 2007-09-30 | CA$0.28 | CA$0.42 | x |
| 2008-09-30 | CA$0.22 | CA$0.42 | x |
| 2009-09-30 | CA$0.22 | CA$0.42 | x |
| 2010-09-30 | CA$0.28 | CA$0.42 | x |
| 2011-09-30 | CA$0.29 | CA$0.42 | x |
| 2012-09-30 | CA$0.29 | CA$0.42 | x |
| 2013-09-30 | CA$0.34 | CA$0.42 | x |
| 2014-09-30 | CA$0.30 | CA$0.42 | x |
| 2015-09-30 | CA$0.58 | CA$0.42 | x |
| 2016-09-30 | CA$0.44 | CA$0.42 | x |
| 2017-09-30 | CA$0.45 | CA$0.42 | x |
| 2018-09-30 | CA$0.49 | CA$0.42 | x |
| 2019-09-30 | CA$0.57 | CA$0.42 | x |
| 2020-09-30 | CA$0.54 | CA$0.42 | x |
| 2021-09-30 | CA$0.53 | CA$0.42 | x |
| 2022-09-30 | CA$0.51 | CA$0.42 | x |
| 2023-09-30 | CA$0.49 | CA$0.42 | x |
| 2024-09-30 | CA$0.45 | CA$0.42 | x |
| 2025-09-30 | CA$0.41 | CA$0.42 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Midland Exploration Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.77%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1291.43%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.05x
- Recent ROE (-4.77%) is above the historical average (-7.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | -12.12% | 0.00% | 0.00x | 1.40x | CA$-134.56K |
| 2007 | -9.56% | 0.00% | 0.00x | 1.09x | CA$-902.30K |
| 2008 | -9.24% | -247.58% | 0.03x | 1.09x | CA$-870.59K |
| 2009 | -11.30% | -462.77% | 0.02x | 1.09x | CA$-990.25K |
| 2010 | -14.57% | -351.28% | 0.04x | 1.05x | CA$-1.60 Million |
| 2011 | -13.69% | -343.27% | 0.04x | 1.07x | CA$-1.71 Million |
| 2012 | -14.56% | -572.08% | 0.02x | 1.03x | CA$-1.90 Million |
| 2013 | -7.16% | -3646.48% | 0.00x | 1.04x | CA$-1.65 Million |
| 2014 | -21.86% | -1144.14% | 0.02x | 1.10x | CA$-2.88 Million |
| 2015 | -2.67% | -208.69% | 0.01x | 1.03x | CA$-2.99 Million |
| 2016 | -3.39% | -751.38% | 0.00x | 1.03x | CA$-3.19 Million |
| 2017 | -4.73% | -1262.10% | 0.00x | 1.03x | CA$-3.78 Million |
| 2018 | -2.77% | -737.15% | 0.00x | 1.02x | CA$-3.72 Million |
| 2019 | -3.04% | -3392.66% | 0.00x | 1.03x | CA$-4.90 Million |
| 2020 | -3.59% | -5666.32% | 0.00x | 1.04x | CA$-5.10 Million |
| 2021 | -2.67% | -506.29% | 0.01x | 1.04x | CA$-4.86 Million |
| 2022 | -4.96% | -903.03% | 0.01x | 1.02x | CA$-5.73 Million |
| 2023 | -2.79% | -352.16% | 0.01x | 1.05x | CA$-5.09 Million |
| 2024 | -4.94% | -1001.88% | 0.00x | 1.04x | CA$-5.91 Million |
| 2025 | -4.77% | -1291.43% | 0.00x | 1.05x | CA$-6.58 Million |
Industry Comparison
This section compares Midland Exploration Inc's net assets metrics with peer companies in the Other Industrial Metals & Mining industry.
Industry Context
- Industry: Other Industrial Metals & Mining
- Average net assets among peers: $-404,510
- Average return on equity (ROE) among peers: 31.84%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Midland Exploration Inc (MD) | CA$46.34 Million | -12.12% | 0.05x | $33.92 Million |
| Aftermath Silver Ltd (AAG) | $25.06 Million | -33.91% | 0.29x | $215.07 Million |
| Aton Resources Inc (AAN) | $-1.50 Million | 0.00% | 0.00x | $52.55 Million |
| Asbestos Corporation Limited (AB-H) | $-22.33 Million | 0.00% | 0.00x | $1.85 Million |
| Arbor Metals Corp (ABR) | $3.78 Million | -10.88% | 0.34x | $10.15 Million |
| Asiabasemetals Inc (ABZ) | $-30.55K | 0.00% | 0.00x | $5.75 Million |
| Adex Mining Inc (ADE) | $-30.95 Million | 0.00% | 0.00x | $27.09 Million |
| AE Fuels Corporation (AEF) | $423.41K | -11.49% | 0.28x | $4.95 Million |
| Alphamin Res (AFM) | $272.15K | -48.58% | 0.07x | $1.27 Billion |
| African Metals Corporation (AFR) | $2.33 Million | 446.81% | 0.22x | $1.00 Million |
| Silver X Mining Corp (AGX) | $18.90 Million | -23.55% | 1.85x | $148.73 Million |
About Midland Exploration Inc
Midland Exploration Inc., a mineral exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It explores for gold, copper, zinc, nickel, cobalt, PGE, silver, lithium, molybdenum, lead, and bismuth deposits. The company was incorporated in 1995 and is headquartered in Montreal, Canada.