Pender Growth Fund VCC Inc (PTF) - Net Assets
Based on the latest financial reports, Pender Growth Fund VCC Inc (PTF) has net assets worth CA$115.40 Million CAD (≈ $83.48 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$115.83 Million ≈ $83.79 Million USD) and total liabilities (CA$427.55K ≈ $309.28K 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. Also explore Pender Growth Fund VCC Inc total assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$115.40 Million |
| % of Total Assets | 99.63% |
| Annual Growth Rate | 10.17% |
| 5-Year Change | -41.9% |
| 10-Year Change | 537.77% |
| Growth Volatility | 79.08 |
Pender Growth Fund VCC Inc - Net Assets Trend (2008–2025)
This chart illustrates how Pender Growth Fund VCC Inc's net assets have evolved over time, based on quarterly financial data. Check PTF goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Pender Growth Fund VCC Inc (2008–2025)
The table below shows the annual net assets of Pender Growth Fund VCC Inc from 2008 to 2025. For live valuation and market cap data, see Pender Growth Fund VCC Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$115.40 Million ≈ $83.48 Million |
-6.24% |
| 2024-12-31 | CA$123.08 Million ≈ $89.04 Million |
+65.19% |
| 2023-12-31 | CA$74.51 Million ≈ $53.90 Million |
+6.08% |
| 2022-12-31 | CA$70.24 Million ≈ $50.81 Million |
-64.64% |
| 2021-12-31 | CA$198.64 Million ≈ $143.70 Million |
+311.16% |
| 2020-12-31 | CA$48.31 Million ≈ $34.95 Million |
+42.35% |
| 2019-12-31 | CA$33.94 Million ≈ $24.55 Million |
+92.24% |
| 2018-12-31 | CA$17.65 Million ≈ $12.77 Million |
-5.57% |
| 2017-12-31 | CA$18.70 Million ≈ $13.52 Million |
+3.32% |
| 2016-12-31 | CA$18.10 Million ≈ $13.09 Million |
+27.45% |
| 2015-12-31 | CA$14.20 Million ≈ $10.27 Million |
+1.15% |
| 2014-12-31 | CA$14.04 Million ≈ $10.15 Million |
+9.12% |
| 2013-12-31 | CA$12.86 Million ≈ $9.31 Million |
-2.75% |
| 2012-12-31 | CA$13.23 Million ≈ $9.57 Million |
-6.59% |
| 2011-12-31 | CA$14.16 Million ≈ $10.24 Million |
-17.21% |
| 2010-12-31 | CA$17.11 Million ≈ $12.37 Million |
-18.18% |
| 2009-12-31 | CA$20.91 Million ≈ $15.12 Million |
-5.97% |
| 2008-12-31 | CA$22.24 Million ≈ $16.09 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Pender Growth Fund VCC 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 grown by 10923186500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$104.42 Million | 90.48% |
| Other Components | CA$10.98 Million | 9.52% |
| Total Equity | CA$115.40 Million | 100.00% |
Pender Growth Fund VCC Inc Competitors by Market Cap
The table below lists competitors of Pender Growth Fund VCC Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Phoenix Enterprise Group Co Ltd B
SHG:900916
|
$76.19 Million |
|
Alpine Select AG
SW:ALPN
|
$76.21 Million |
|
Magadh Sugar & Energy Limited
NSE:MAGADSUGAR
|
$76.26 Million |
|
DMCC SPECIALITY CHEMICALS LIMITED
NSE:DMCC
|
$76.26 Million |
|
Foodnamoo. Inc
KQ:290720
|
$76.18 Million |
|
United Polyfab Gujarat Limited
NSE:UNITEDPOLY
|
$76.18 Million |
|
Gowa Makassar Tourism Develop
JK:GMTD
|
$76.16 Million |
|
Edisun Power Europe AG
SW:ESUN
|
$76.16 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pender Growth Fund VCC Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 123,081,507 to 115,404,324, a change of -7,677,183 (-6.2%).
- Net loss of 4,879,423 reduced equity.
- Share repurchases of 2,797,760 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-4.88 Million | -4.23% |
| Share Repurchases | CA$2.80 Million | -2.42% |
| Total Change | CA$- | -6.24% |
Book Value vs Market Value Analysis
This analysis compares Pender Growth Fund VCC 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: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.34x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | CA$6.49 | CA$15.19 | x |
| 2009-12-31 | CA$5.77 | CA$15.19 | x |
| 2010-12-31 | CA$2.96 | CA$15.19 | x |
| 2011-12-31 | CA$2.07 | CA$15.19 | x |
| 2012-12-31 | CA$2.01 | CA$15.19 | x |
| 2013-12-31 | CA$1.96 | CA$15.19 | x |
| 2014-12-31 | CA$2.38 | CA$15.19 | x |
| 2015-12-31 | CA$2.69 | CA$15.19 | x |
| 2016-12-31 | CA$4.34 | CA$15.19 | x |
| 2017-12-31 | CA$4.49 | CA$15.19 | x |
| 2018-12-31 | CA$4.14 | CA$15.19 | x |
| 2019-12-31 | CA$5.15 | CA$15.19 | x |
| 2020-12-31 | CA$5.99 | CA$15.19 | x |
| 2021-12-31 | CA$25.99 | CA$15.19 | x |
| 2022-12-31 | CA$9.26 | CA$15.19 | x |
| 2023-12-31 | CA$9.29 | CA$15.19 | x |
| 2024-12-31 | CA$17.25 | CA$15.19 | x |
| 2025-12-31 | CA$16.65 | CA$15.19 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pender Growth Fund VCC Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.23%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.04x
- • Equity Multiplier: 1.00x
- Recent ROE (-4.23%) is below the historical average (0.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -25.52% | -1574.91% | 0.02x | 1.01x | CA$-7.90 Million |
| 2009 | -4.16% | -632.50% | 0.01x | 1.01x | CA$-2.96 Million |
| 2010 | -23.63% | -1065.94% | 0.02x | 1.01x | CA$-5.75 Million |
| 2011 | -10.99% | -350.46% | 0.03x | 1.01x | CA$-2.97 Million |
| 2012 | -6.99% | 0.00% | -0.04x | 1.01x | CA$-2.25 Million |
| 2013 | 26.15% | 90.98% | 0.29x | 1.01x | CA$2.08 Million |
| 2014 | 8.12% | 78.31% | 0.10x | 1.01x | CA$-264.36K |
| 2015 | 21.89% | 91.46% | 0.24x | 1.01x | CA$1.68 Million |
| 2016 | 54.71% | 93.79% | 0.58x | 1.01x | CA$8.06 Million |
| 2017 | 3.19% | 66.80% | 0.05x | 1.01x | CA$-1.27 Million |
| 2018 | -8.28% | 0.00% | -0.06x | 1.03x | CA$-3.15 Million |
| 2019 | 6.10% | 82.22% | 0.07x | 1.01x | CA$-1.32 Million |
| 2020 | 30.63% | 98.06% | 0.30x | 1.02x | CA$9.75 Million |
| 2021 | 76.57% | 91.22% | 0.74x | 1.14x | CA$132.23 Million |
| 2022 | -182.01% | 0.00% | -1.86x | 1.09x | CA$-134.86 Million |
| 2023 | 1.47% | 2609.57% | 0.00x | 1.07x | CA$-5.96 Million |
| 2024 | 45.07% | 103.01% | 0.43x | 1.01x | CA$43.17 Million |
| 2025 | -4.23% | 0.00% | -0.04x | 1.00x | CA$-16.42 Million |
Industry Comparison
This section compares Pender Growth Fund VCC Inc's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,510,873,466
- Average return on equity (ROE) among peers: 13.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pender Growth Fund VCC Inc (PTF) | CA$115.40 Million | -25.52% | 0.00x | $76.18 Million |
| Aberdeen International Inc. (AAB) | $32.38 Million | 9.01% | 0.06x | $2.32 Million |
| Base Carbon Inc. (BCBN) | $100.49 Million | 0.24% | 0.08x | $43.82 Million |
| Canadian Banc Corp (BK) | $304.60 Million | 1.01% | 0.01x | $601.96 Million |
| Brookfield Corporation (BN) | $6.40 Billion | 6.37% | 1.55x | $96.74 Billion |
| Sprott Physical Gold and Silver Trust (CEF) | $3.50 Billion | 10.58% | 0.00x | $7.50 Billion |
| Canadian General Investments Ltd (CGI) | $653.13 Million | 26.59% | 0.33x | $771.13 Million |
| CI Financial Corp (CIX) | $2.06 Billion | 24.28% | 1.21x | $3.32 Billion |
| Clairvest Group Inc. (CVG) | $778.69 Million | 15.31% | 0.17x | $784.66 Million |
| Cymbria Corporation (CYB) | $1.19 Billion | -1.16% | 0.04x | $1.02 Billion |
| Dividend 15 Split Corp II (DF) | $85.73 Million | 39.13% | 1.92x | $177.84 Million |
About Pender Growth Fund VCC Inc
Pender Growth Fund Inc. specializes in private equity, later stage, special situations, and restructuring investments. The fund also provides expansion capital and invests in small caps and Eligible Small Businesses (ESBs). It seeks to invest in illiquid public and private companies in information technology, communications, life sciences, and proprietary technologies sectors and undervalued tech… Read more