Newcore Gold Ltd (NCAU) - Net Assets
Based on the latest financial reports, Newcore Gold Ltd (NCAU) has net assets worth CA$65.69 Million CAD (≈ $47.52 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$69.33 Million ≈ $50.15 Million USD) and total liabilities (CA$3.64 Million ≈ $2.63 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 Newcore Gold Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$65.69 Million |
| % of Total Assets | 94.75% |
| Annual Growth Rate | 18.86% |
| 5-Year Change | 68.09% |
| 10-Year Change | N/A |
| Growth Volatility | 32.49 |
Newcore Gold Ltd - Net Assets Trend (2016–2025)
This chart illustrates how Newcore Gold Ltd's net assets have evolved over time, based on quarterly financial data. See Newcore Gold Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Newcore Gold Ltd (2016–2025)
The table below shows the annual net assets of Newcore Gold Ltd from 2016 to 2025. For live valuation and market cap data, see NCAU stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$65.69 Million ≈ $47.52 Million |
+31.77% |
| 2024-12-31 | CA$49.85 Million ≈ $36.06 Million |
+17.08% |
| 2023-12-31 | CA$42.58 Million ≈ $30.80 Million |
+2.83% |
| 2022-12-31 | CA$41.41 Million ≈ $29.96 Million |
+5.96% |
| 2021-12-31 | CA$39.08 Million ≈ $28.27 Million |
+32.30% |
| 2020-12-31 | CA$29.54 Million ≈ $21.37 Million |
+107.24% |
| 2019-12-31 | CA$14.25 Million ≈ $10.31 Million |
-5.33% |
| 2018-12-31 | CA$15.06 Million ≈ $10.89 Million |
+4.15% |
| 2017-12-31 | CA$14.46 Million ≈ $10.46 Million |
+4.15% |
| 2016-12-31 | CA$13.88 Million ≈ $10.04 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Newcore Gold Ltd'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 2367481200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$92.07 Million | 140.15% |
| Total Equity | CA$65.69 Million | 100.00% |
Newcore Gold Ltd Competitors by Market Cap
The table below lists competitors of Newcore Gold Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Magyar Bancorp Inc
NASDAQ:MGYR
|
$111.10 Million |
|
Pang Rim Spinn
KO:003610
|
$111.16 Million |
|
Viva Leisure Ltd
AU:VVA
|
$111.22 Million |
|
Geospace Technologies Corporation
NASDAQ:GEOS
|
$111.22 Million |
|
eWork Group AB
ST:EWRK
|
$111.07 Million |
|
We&Win Diversification Co Ltd
TWO:4113
|
$111.05 Million |
|
Spyrosoft Spólka Akcyjna
F:2NP
|
$111.02 Million |
|
Jindal Photo Limited
NSE:JINDALPHOT
|
$111.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Newcore Gold Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 49,853,346 to 65,690,743, a change of 15,837,397 (31.8%).
- Net loss of 1,772,927 reduced equity.
- New share issuances of 15,000,040 increased equity.
- Other factors increased equity by 2,610,284.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-1.77 Million | -2.7% |
| Share Issuances | CA$15.00 Million | +22.83% |
| Other Changes | CA$2.61 Million | +3.97% |
| Total Change | CA$- | 31.77% |
Book Value vs Market Value Analysis
This analysis compares Newcore Gold Ltd'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: 2.17x
- 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 2.34x to 2.17x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | CA$0.23 | CA$0.54 | x |
| 2018-12-31 | CA$0.24 | CA$0.54 | x |
| 2019-12-31 | CA$0.23 | CA$0.54 | x |
| 2020-12-31 | CA$0.30 | CA$0.54 | x |
| 2021-12-31 | CA$0.32 | CA$0.54 | x |
| 2022-12-31 | CA$0.30 | CA$0.54 | x |
| 2023-12-31 | CA$0.25 | CA$0.54 | x |
| 2024-12-31 | CA$0.24 | CA$0.54 | x |
| 2025-12-31 | CA$0.25 | CA$0.54 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Newcore Gold Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -2.70%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-2.70%) is above the historical average (-6.14%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | -3.80% | 0.00% | 0.00x | 1.01x | CA$-1.91 Million |
| 2017 | -6.98% | 0.00% | 0.00x | 1.01x | CA$-2.45 Million |
| 2018 | -3.43% | 0.00% | 0.00x | 1.01x | CA$-2.02 Million |
| 2019 | -1.90% | 0.00% | 0.00x | 1.03x | CA$-1.70 Million |
| 2020 | -7.49% | 0.00% | 0.00x | 1.05x | CA$-5.17 Million |
| 2021 | -10.29% | 0.00% | 0.00x | 1.03x | CA$-7.93 Million |
| 2022 | -6.34% | 0.00% | 0.00x | 1.07x | CA$-6.77 Million |
| 2023 | -7.90% | 0.00% | 0.00x | 1.09x | CA$-7.62 Million |
| 2024 | -10.58% | 0.00% | 0.00x | 1.14x | CA$-10.26 Million |
| 2025 | -2.70% | 0.00% | 0.00x | 1.06x | CA$-8.34 Million |
Industry Comparison
This section compares Newcore Gold Ltd's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $3,457,076,334
- Average return on equity (ROE) among peers: -12.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Newcore Gold Ltd (NCAU) | CA$65.69 Million | -3.80% | 0.06x | $111.09 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $3.29 Billion |
| Abcourt Mines Inc. (ABI) | $3.33 Million | -20.67% | 0.04x | $77.46 Million |
| Barrick Gold Corp (ABX) | $32.31 Billion | 6.26% | 0.45x | $70.55 Billion |
| American Eagle Gold Corp (AE) | $35.20 Million | -22.32% | 0.04x | $142.56 Million |
| Agnico Eagle Mines Limited (AEM) | $2.06 Billion | 6.77% | 0.33x | $86.35 Billion |
| Alamos Gold Inc (AGI) | $25.69 Million | -7.53% | 0.11x | $15.94 Billion |
| AIS Resources Ltd (AIS) | $479.48K | -11.79% | 0.06x | $2.79 Million |
| Alliance Mining Corp (ALM) | $-655.60K | 0.00% | 0.00x | $1.58 Million |
| Altamira Gold Corp (ALTA) | $24.24 Million | -6.73% | 0.03x | $41.82 Million |
| Almaden Minerals Ltd (AMM) | $5.18 Million | -58.59% | 0.09x | $24.82 Million |
About Newcore Gold Ltd
Newcore Gold Ltd. engages in the acquisition, advancement, and development of mineral resource properties in Ghana. It holds 100% interest in the Enchi Gold Project covering 248 square kilometers located in southwest Ghana, as well as holds six prospecting licenses. The company was formerly known as Pinecrest Resources Ltd. and changed its name to Newcore Gold Ltd. in August 2020. Newcore Gold Lt… Read more