Spruce Ridge Resources Ltd. (SHL) - Net Assets
Based on the latest financial reports, Spruce Ridge Resources Ltd. (SHL) has net assets worth CA$9.50 Million CAD (≈ $6.87 Million USD) as of October 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.95 Million ≈ $7.19 Million USD) and total liabilities (CA$449.73K ≈ $325.32K 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 Spruce Ridge Resources Ltd. (SHL) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$9.50 Million |
| % of Total Assets | 95.48% |
| Annual Growth Rate | 11.98% |
| 5-Year Change | -70.23% |
| 10-Year Change | 1220.41% |
| Growth Volatility | 214.98 |
Spruce Ridge Resources Ltd. - Net Assets Trend (2001–2025)
This chart illustrates how Spruce Ridge Resources Ltd.'s net assets have evolved over time, based on quarterly financial data. Also explore SHL asset base for the complete picture of this company's asset base.
Annual Net Assets for Spruce Ridge Resources Ltd. (2001–2025)
The table below shows the annual net assets of Spruce Ridge Resources Ltd. from 2001 to 2025. For live valuation and market cap data, see SHL market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-04-30 | CA$9.59 Million ≈ $6.94 Million |
-32.39% |
| 2024-04-30 | CA$14.18 Million ≈ $10.26 Million |
+36.27% |
| 2023-04-30 | CA$10.41 Million ≈ $7.53 Million |
-35.84% |
| 2022-04-30 | CA$16.22 Million ≈ $11.74 Million |
-49.64% |
| 2021-04-30 | CA$32.22 Million ≈ $23.30 Million |
+181.15% |
| 2020-04-30 | CA$11.46 Million ≈ $8.29 Million |
+733.64% |
| 2019-04-30 | CA$1.37 Million ≈ $994.31K |
+62.19% |
| 2018-04-30 | CA$847.47K ≈ $613.04K |
-19.79% |
| 2017-04-30 | CA$1.06 Million ≈ $764.30K |
+45.47% |
| 2016-04-30 | CA$726.31K ≈ $525.40K |
-7.44% |
| 2015-04-30 | CA$784.70K ≈ $567.64K |
-10.82% |
| 2014-04-30 | CA$879.94K ≈ $636.53K |
-33.93% |
| 2013-04-30 | CA$1.33 Million ≈ $963.49K |
+25.94% |
| 2012-04-30 | CA$1.06 Million ≈ $765.01K |
-80.28% |
| 2011-04-30 | CA$5.36 Million ≈ $3.88 Million |
+7.85% |
| 2010-04-30 | CA$4.97 Million ≈ $3.60 Million |
+64.12% |
| 2009-04-30 | CA$3.03 Million ≈ $2.19 Million |
-30.53% |
| 2008-04-30 | CA$4.36 Million ≈ $3.15 Million |
-20.26% |
| 2007-04-30 | CA$5.47 Million ≈ $3.96 Million |
+787.87% |
| 2006-04-30 | CA$615.98K ≈ $445.59K |
+25.82% |
| 2005-04-30 | CA$489.58K ≈ $354.16K |
-25.22% |
| 2004-04-30 | CA$654.67K ≈ $473.58K |
-5.45% |
| 2003-04-30 | CA$692.40K ≈ $500.87K |
+2.65% |
| 2002-04-30 | CA$674.56K ≈ $487.96K |
+6.20% |
| 2001-04-30 | CA$635.15K ≈ $459.46K |
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Equity Component Analysis
This analysis shows how different components contribute to Spruce Ridge Resources 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 1340780600.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (April 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$23.65 Million | 248.28% |
| Total Equity | CA$9.53 Million | 100.00% |
Spruce Ridge Resources Ltd. Competitors by Market Cap
The table below lists competitors of Spruce Ridge Resources Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ni Steel
KO:008260
|
$75.26 Million |
|
Incheon City G
KO:034590
|
$75.28 Million |
|
Papilon Savunma Guvenlik Sistemleri
IS:PAPIL
|
$75.30 Million |
|
Aviv Arlon Ltd
TA:AVLN
|
$75.32 Million |
|
Lifetime Brands Inc
NASDAQ:LCUT
|
$75.22 Million |
|
Adrad Holdings Ltd
AU:AHL
|
$75.22 Million |
|
HLB Global Co Ltd
KO:003580
|
$75.18 Million |
|
Huadian Ener-B
SHG:900937
|
$75.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Spruce Ridge Resources Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,100,061 to 9,525,362, a change of -3,574,699 (-27.3%).
- Net loss of 4,966,263 reduced equity.
- Other factors increased equity by 1,391,564.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-4.97 Million | -52.14% |
| Other Changes | CA$1.39 Million | +14.61% |
| Total Change | CA$- | -27.29% |
Book Value vs Market Value Analysis
This analysis compares Spruce Ridge Resources 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: 10.81x
- 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 increased from 4.26x to 10.81x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-04-30 | CA$0.11 | CA$0.46 | x |
| 2002-04-30 | CA$0.10 | CA$0.46 | x |
| 2003-04-30 | CA$0.08 | CA$0.46 | x |
| 2004-04-30 | CA$0.06 | CA$0.46 | x |
| 2005-04-30 | CA$0.03 | CA$0.46 | x |
| 2006-04-30 | CA$0.04 | CA$0.46 | x |
| 2007-04-30 | CA$0.31 | CA$0.46 | x |
| 2008-04-30 | CA$0.20 | CA$0.46 | x |
| 2009-04-30 | CA$0.13 | CA$0.46 | x |
| 2010-04-30 | CA$0.20 | CA$0.46 | x |
| 2011-04-30 | CA$0.21 | CA$0.46 | x |
| 2012-04-30 | CA$0.04 | CA$0.46 | x |
| 2013-04-30 | CA$0.04 | CA$0.46 | x |
| 2014-04-30 | CA$0.02 | CA$0.46 | x |
| 2015-04-30 | CA$0.02 | CA$0.46 | x |
| 2016-04-30 | CA$0.01 | CA$0.46 | x |
| 2017-04-30 | CA$0.01 | CA$0.46 | x |
| 2018-04-30 | CA$0.01 | CA$0.46 | x |
| 2019-04-30 | CA$0.02 | CA$0.46 | x |
| 2020-04-30 | CA$0.12 | CA$0.46 | x |
| 2021-04-30 | CA$0.24 | CA$0.46 | x |
| 2022-04-30 | CA$0.09 | CA$0.46 | x |
| 2023-04-30 | CA$0.06 | CA$0.46 | x |
| 2024-04-30 | CA$0.06 | CA$0.46 | x |
| 2025-04-30 | CA$0.04 | CA$0.46 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Spruce Ridge Resources Ltd. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -52.14%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-52.14%) is below the historical average (-33.82%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | -8.47% | 0.00% | 0.00x | 1.07x | CA$-117.29K |
| 2002 | -4.98% | 0.00% | 0.00x | 1.08x | CA$-101.05K |
| 2003 | -5.16% | 0.00% | 0.00x | 1.18x | CA$-104.98K |
| 2004 | -129.37% | 0.00% | 0.00x | 1.22x | CA$-912.45K |
| 2005 | -61.45% | 0.00% | 0.00x | 1.49x | CA$-349.80K |
| 2006 | 18.00% | 0.00% | 0.00x | 1.06x | CA$49.30K |
| 2007 | -28.33% | -922.50% | 0.03x | 1.00x | CA$-2.10 Million |
| 2008 | -35.18% | -1173.72% | 0.03x | 1.00x | CA$-1.97 Million |
| 2009 | -50.38% | -1353.26% | 0.04x | 1.06x | CA$-1.83 Million |
| 2010 | 36.25% | 5459.80% | 0.01x | 1.07x | CA$1.31 Million |
| 2011 | -8.30% | 0.00% | 0.00x | 1.02x | CA$-981.56K |
| 2012 | -196.82% | 0.00% | 0.00x | 1.16x | CA$-2.19 Million |
| 2013 | -107.72% | 0.00% | 0.00x | 1.21x | CA$-1.57 Million |
| 2014 | -93.98% | 0.00% | 0.00x | 1.55x | CA$-914.98K |
| 2015 | -12.14% | 0.00% | 0.00x | 1.70x | CA$-173.71K |
| 2016 | -48.69% | 0.00% | 0.00x | 1.96x | CA$-426.24K |
| 2017 | -11.29% | 0.00% | 0.00x | 1.39x | CA$-224.91K |
| 2018 | -24.67% | 0.00% | 0.00x | 1.75x | CA$-293.84K |
| 2019 | -43.91% | 0.00% | 0.00x | 1.39x | CA$-741.03K |
| 2020 | 75.17% | 0.00% | 0.00x | 1.03x | CA$7.47 Million |
| 2021 | 67.27% | 0.00% | 0.00x | 1.06x | CA$18.45 Million |
| 2022 | -65.70% | -8112.78% | 0.01x | 1.04x | CA$-12.28 Million |
| 2023 | -55.86% | -9589.93% | 0.01x | 1.02x | CA$-6.86 Million |
| 2024 | 2.45% | 0.00% | 0.00x | 1.10x | CA$-989.21K |
| 2025 | -52.14% | 0.00% | 0.00x | 1.06x | CA$-5.92 Million |
Industry Comparison
This section compares Spruce Ridge Resources Ltd.'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: $14,613,271
- Average return on equity (ROE) among peers: -28.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Spruce Ridge Resources Ltd. (SHL) | CA$9.50 Million | -8.47% | 0.05x | $75.24 Million |
| Aftermath Silver Ltd (AAG) | $1.38 Million | -190.49% | 0.19x | $185.75 Million |
| Aton Resources Inc (AAN) | $-9.49 Million | 0.00% | 0.00x | $49.79 Million |
| Arbor Metals Corp (ABR) | $3.78 Million | -10.88% | 0.34x | $10.75 Million |
| Asiabasemetals Inc (ABZ) | $-637.51K | 0.00% | 0.00x | $4.67 Million |
| Adex Mining Inc (ADE) | $-2.16 Million | 0.00% | 0.00x | $27.09 Million |
| Alphamin Res (AFM) | $71.72 Million | -9.02% | 0.02x | $1.30 Billion |
| Silver X Mining Corp (AGX) | $38.37 Million | -47.47% | 0.73x | $148.73 Million |
| Amarc Resources Ltd. (AHR) | $14.00 Million | 5.93% | 0.01x | $148.33 Million |
| Almonty Industries Inc (AII) | $29.17 Million | -31.05% | 4.18x | $4.73 Billion |
| Aldebaran Resources Inc (ALDE) | $1.00 | 0.00% | 0.00x | $332.39 Million |
About Spruce Ridge Resources Ltd.
Homeland Nickel Inc., together with its subsidiaries, engages in the acquisition, exploration, evaluation, and development of mineral properties in Canada and the United States. It explores for copper, gold, and nickel deposits. The company was formerly known as Spruce Ridge Resources Ltd. and changed its name to Homeland Nickel Inc. in May 2024. Homeland Nickel Inc. was incorporated in 1989 and … Read more