Source Rock Royalties Ltd (SRR) - Net Assets
Based on the latest financial reports, Source Rock Royalties Ltd (SRR) has net assets worth CA$23.92 Million CAD (≈ $17.30 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$24.45 Million ≈ $17.69 Million USD) and total liabilities (CA$530.42K ≈ $383.69K 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. Explore SRR cash flow conversion to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$23.92 Million |
| % of Total Assets | 97.83% |
| Annual Growth Rate | 13.04% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 40.35 |
Source Rock Royalties Ltd - Net Assets Trend (2020–2024)
This chart illustrates how Source Rock Royalties Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Source Rock Royalties Ltd asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Source Rock Royalties Ltd (2020–2024)
The table below shows the annual net assets of Source Rock Royalties Ltd from 2020 to 2024. For live valuation and market cap data, see Source Rock Royalties Ltd market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$25.72 Million ≈ $18.61 Million |
-4.23% |
| 2023-12-31 | CA$26.86 Million ≈ $19.43 Million |
-2.12% |
| 2022-12-31 | CA$27.44 Million ≈ $19.85 Million |
+88.44% |
| 2021-12-31 | CA$14.56 Million ≈ $10.53 Million |
-7.56% |
| 2020-12-31 | CA$15.75 Million ≈ $11.39 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Source Rock Royalties 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 466328100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CA$44.39 Million | 172.60% |
| Total Equity | CA$25.72 Million | 100.00% |
Source Rock Royalties Ltd Competitors by Market Cap
The table below lists competitors of Source Rock Royalties Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
APS Energia S.A.
WAR:APE
|
$32.66 Million |
|
Acula Technology
TWO:3434
|
$32.67 Million |
|
Hep Tech Co Ltd
TWO:3609
|
$32.67 Million |
|
Kekrops S.A.
AT:KEKR
|
$32.68 Million |
|
Native Mineral Resources Holdings Ltd
AU:NMR
|
$32.63 Million |
|
Western Alaska Minerals Corp
V:WAM
|
$32.62 Million |
|
Dusk Group Ltd
AU:DSK
|
$32.60 Million |
|
Sustainable Power & Infrastructure Split Corp
TO:PWI
|
$32.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Source Rock Royalties Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 26,857,137 to 25,720,078, a change of -1,137,059 (-4.2%).
- Net income of 1,495,319 contributed positively to equity growth.
- Dividend payments of 3,449,041 reduced retained earnings.
- Other factors increased equity by 816,663.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$1.50 Million | +5.81% |
| Dividends Paid | CA$3.45 Million | -13.41% |
| Other Changes | CA$816.66K | +3.18% |
| Total Change | CA$- | -4.23% |
Book Value vs Market Value Analysis
This analysis compares Source Rock Royalties 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: 1.75x
- 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 2.72x to 1.75x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | CA$0.36 | CA$0.99 | x |
| 2021-12-31 | CA$0.34 | CA$0.99 | x |
| 2022-12-31 | CA$0.61 | CA$0.99 | x |
| 2023-12-31 | CA$0.59 | CA$0.99 | x |
| 2024-12-31 | CA$0.56 | CA$0.99 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Source Rock Royalties Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.81%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.45%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.03x
- Recent ROE (5.81%) is above the historical average (0.81%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -18.13% | -207.62% | 0.08x | 1.04x | CA$-4.43 Million |
| 2021 | 1.21% | 4.14% | 0.28x | 1.05x | CA$-1.28 Million |
| 2022 | 9.32% | 39.41% | 0.23x | 1.05x | CA$-185.89K |
| 2023 | 5.83% | 23.57% | 0.24x | 1.01x | CA$-1.12 Million |
| 2024 | 5.81% | 19.45% | 0.29x | 1.03x | CA$-1.08 Million |
Industry Comparison
This section compares Source Rock Royalties Ltd's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $4,460,132,000
- Average return on equity (ROE) among peers: 5.91%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Source Rock Royalties Ltd (SRR) | CA$23.92 Million | -18.13% | 0.02x | $32.64 Million |
| AltaGas Ltd (ALA) | $1.21 Billion | 8.36% | 1.27x | $12.16 Billion |
| Enbridge Inc (ENB) | $13.76 Billion | 5.20% | 2.43x | $122.80 Billion |
| Gibson Energy Inc. (GEI) | $1.37 Billion | 7.59% | 1.23x | $3.61 Billion |
| Keyera Corp. (KEY) | $614.65 Million | 3.70% | 0.87x | $9.44 Billion |
| Pembina Pipeline Corp (PPL) | $769.06 Million | 5.24% | 0.69x | $27.67 Billion |
| South Bow Corporation (SOBO) | $2.84 Billion | 15.56% | 3.24x | $7.78 Billion |
| Topaz Energy Corp (TPZ) | $1.24 Billion | 3.83% | 0.37x | $3.56 Billion |
| TC Energy Corp (TRP) | $17.88 Billion | 7.15% | 1.61x | $71.06 Billion |
| Tidewater Midstream and Infrastructure Ltd (TWM) | $452.04 Million | -3.43% | 3.49x | $258.34 Million |
About Source Rock Royalties Ltd
Source Rock Royalties Ltd., an oil and gas royalty company, engages in acquiring and managing oil and gas royalties and mineral title interests. It has an oil focused portfolio of royalty interests concentrated in S.E. Saskatchewan, central Alberta, and west-central Saskatchewan. The company was incorporated in 2012 and is headquartered in Calgary, Canada.