Midnight Sun Mining Corp (MMA) - Net Assets
Based on the latest financial reports, Midnight Sun Mining Corp (MMA) has net assets worth CA$44.92 Million CAD (≈ $32.49 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$45.60 Million ≈ $32.98 Million USD) and total liabilities (CA$678.98K ≈ $491.17K 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 how tangible is Midnight Sun Mining Corp's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$44.92 Million |
| % of Total Assets | 98.51% |
| Annual Growth Rate | 34.6% |
| 5-Year Change | 118.62% |
| 10-Year Change | 1944.18% |
| Growth Volatility | 97.53 |
Midnight Sun Mining Corp - Net Assets Trend (2007–2025)
This chart illustrates how Midnight Sun Mining Corp's net assets have evolved over time, based on quarterly financial data. See MMA defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Midnight Sun Mining Corp (2007–2025)
The table below shows the annual net assets of Midnight Sun Mining Corp from 2007 to 2025. For live valuation and market cap data, see MMA market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$44.92 Million ≈ $32.49 Million |
+108.57% |
| 2024-12-31 | CA$21.54 Million ≈ $15.58 Million |
+62.81% |
| 2023-12-31 | CA$13.23 Million ≈ $9.57 Million |
+29.98% |
| 2022-12-31 | CA$10.18 Million ≈ $7.36 Million |
-50.47% |
| 2021-12-31 | CA$20.55 Million ≈ $14.86 Million |
+3.76% |
| 2020-12-31 | CA$19.80 Million ≈ $14.32 Million |
+8.19% |
| 2019-12-31 | CA$18.30 Million ≈ $13.24 Million |
+68.42% |
| 2018-12-31 | CA$10.87 Million ≈ $7.86 Million |
+20.73% |
| 2017-12-31 | CA$9.00 Million ≈ $6.51 Million |
+309.63% |
| 2016-12-31 | CA$2.20 Million ≈ $1.59 Million |
+152.88% |
| 2015-12-31 | CA$868.93K ≈ $628.57K |
+21.09% |
| 2014-12-31 | CA$717.61K ≈ $519.11K |
+86.22% |
| 2013-12-31 | CA$385.36K ≈ $278.76K |
-72.63% |
| 2012-12-31 | CA$1.41 Million ≈ $1.02 Million |
+249.51% |
| 2011-12-31 | CA$402.82K ≈ $291.39K |
-29.83% |
| 2010-12-31 | CA$574.03K ≈ $415.24K |
+136.67% |
| 2009-12-31 | CA$242.55K ≈ $175.45K |
-28.78% |
| 2008-12-31 | CA$340.58K ≈ $246.37K |
+59.61% |
| 2007-12-31 | CA$213.38K ≈ $154.36K |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Midnight Sun Mining 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 3131327000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$74.23 Million | 173.11% |
| Total Equity | CA$42.88 Million | 100.00% |
Midnight Sun Mining Corp Competitors by Market Cap
The table below lists competitors of Midnight Sun Mining Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mincon Group plc
IR:MIO
|
$123.23 Million |
|
Igis Value Plus Reit Co Ltd
KO:334890
|
$123.23 Million |
|
King Chou Marine Technology Co Ltd
TWO:4417
|
$123.28 Million |
|
Hsin Ba Ba Corp
TW:9906
|
$123.29 Million |
|
Ekachai Medical Care Public Company Limited
BK:EKH
|
$123.18 Million |
|
Jindal Photo Limited
NSE:JINDALPHOT
|
$123.18 Million |
|
Reyon Pharmaceutical Co Ltd
KO:102460
|
$123.18 Million |
|
Top Union Electronics
TWO:6266
|
$123.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Midnight Sun Mining Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 19,500,873 to 42,882,363, a change of 23,381,490 (119.9%).
- Net loss of 14,230,444 reduced equity.
- New share issuances of 30,475,575 increased equity.
- Other factors increased equity by 7,136,359.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-14.23 Million | -33.18% |
| Share Issuances | CA$30.48 Million | +71.07% |
| Other Changes | CA$7.14 Million | +16.64% |
| Total Change | CA$- | 119.90% |
Book Value vs Market Value Analysis
This analysis compares Midnight Sun Mining 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: 3.94x
- 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 7.40x to 3.94x 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$0.11 | CA$0.79 | x |
| 2008-12-31 | CA$0.37 | CA$0.79 | x |
| 2009-12-31 | CA$0.24 | CA$0.79 | x |
| 2010-12-31 | CA$0.12 | CA$0.79 | x |
| 2011-12-31 | CA$0.05 | CA$0.79 | x |
| 2012-12-31 | CA$0.09 | CA$0.79 | x |
| 2013-12-31 | CA$0.02 | CA$0.79 | x |
| 2014-12-31 | CA$0.03 | CA$0.79 | x |
| 2015-12-31 | CA$0.03 | CA$0.79 | x |
| 2016-12-31 | CA$0.06 | CA$0.79 | x |
| 2017-12-31 | CA$0.15 | CA$0.79 | x |
| 2018-12-31 | CA$0.14 | CA$0.79 | x |
| 2019-12-31 | CA$0.12 | CA$0.79 | x |
| 2020-12-31 | CA$0.13 | CA$0.79 | x |
| 2021-12-31 | CA$0.14 | CA$0.79 | x |
| 2022-12-31 | CA$0.04 | CA$0.79 | x |
| 2023-12-31 | CA$0.09 | CA$0.79 | x |
| 2024-12-31 | CA$0.12 | CA$0.79 | x |
| 2025-12-31 | CA$0.20 | CA$0.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Midnight Sun Mining Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -33.18%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-33.18%) is above the historical average (-58.28%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | -17.16% | 0.00% | 0.00x | 1.36x | CA$-57.95K |
| 2008 | -28.40% | 0.00% | 0.00x | 1.03x | CA$-130.78K |
| 2009 | -40.42% | 0.00% | 0.00x | 1.14x | CA$-122.28K |
| 2010 | -37.22% | 0.00% | 0.00x | 1.02x | CA$-271.07K |
| 2011 | -244.43% | 0.00% | 0.00x | 1.12x | CA$-1.02 Million |
| 2012 | -34.40% | 0.00% | 0.00x | 1.07x | CA$-625.09K |
| 2013 | -446.92% | 0.00% | 0.00x | 1.36x | CA$-1.76 Million |
| 2014 | -34.57% | 0.00% | 0.00x | 1.31x | CA$-319.84K |
| 2015 | -26.59% | 0.00% | 0.00x | 1.36x | CA$-317.91K |
| 2016 | -18.52% | 0.00% | 0.00x | 1.24x | CA$-626.74K |
| 2017 | -9.90% | 0.00% | 0.00x | 1.04x | CA$-1.79 Million |
| 2018 | -13.43% | 0.00% | 0.00x | 1.05x | CA$-2.55 Million |
| 2019 | -3.30% | 0.00% | 0.00x | 1.75x | CA$-1.44 Million |
| 2020 | -6.16% | 0.00% | 0.00x | 1.63x | CA$-1.99 Million |
| 2021 | -12.99% | 0.00% | 0.00x | 1.42x | CA$-3.37 Million |
| 2022 | -68.84% | 0.00% | 0.00x | 2.32x | CA$-3.64 Million |
| 2023 | -13.73% | 0.00% | 0.00x | 1.25x | CA$-2.66 Million |
| 2024 | -17.17% | 0.00% | 0.00x | 1.13x | CA$-5.30 Million |
| 2025 | -33.18% | 0.00% | 0.00x | 1.06x | CA$-18.52 Million |
Industry Comparison
This section compares Midnight Sun Mining Corp'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: $2,278,129
- Average return on equity (ROE) among peers: -49.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Midnight Sun Mining Corp (MMA) | CA$44.92 Million | -17.16% | 0.02x | $123.20 Million |
| Aftermath Silver Ltd (AAG) | $-1.02 Million | 0.00% | 0.00x | $195.23 Million |
| Aton Resources Inc (AAN) | $-9.49 Million | 0.00% | 0.00x | $42.41 Million |
| Arbor Metals Corp (ABR) | $153.43K | -30.35% | 0.39x | $8.19 Million |
| Asiabasemetals Inc (ABZ) | $-251.39K | 0.00% | 0.00x | $3.63 Million |
| Adex Mining Inc (ADE) | $-81.43K | 0.00% | 0.00x | $66.13 Million |
| Alphamin Res (AFM) | $159.81K | -280.73% | 0.49x | $1.30 Billion |
| Silver X Mining Corp (AGX) | $18.71 Million | -66.45% | 1.77x | $138.33 Million |
| Amarc Resources Ltd. (AHR) | $7.22 Million | -119.49% | 0.12x | $159.74 Million |
| Almonty Industries Inc (AII) | $21.18 Million | 0.00% | 0.48x | $5.33 Billion |
| Aldebaran Resources Inc (ALDE) | $-13.79 Million | 0.00% | 0.00x | $425.46 Million |
About Midnight Sun Mining Corp
Midnight Sun Mining Corp. acquires and explores mineral properties in Africa. The company primarily explores for copper, cobalt, nickel, and gold deposits. Its flagship project is the Solwezi Project located in Zambia. The company was formerly known as Midnight Sun Capital Corporation and changed its name to Midnight Sun Mining Corp. in February 2011. Midnight Sun Mining Corp. was incorporated in… Read more