Thor Explorations Ltd. Net Assets
Thor Explorations Ltd. net assets. Based on the latest financial reports, Thor Explorations Ltd. (THX) has net assets worth CA$458.88 Million CAD (≈ $331.94 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$488.33 Million ≈ $353.25 Million USD) and total liabilities (CA$29.46 Million ≈ $21.31 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. Also explore how fast is Thor Explorations Ltd. growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$458.88 Million |
| % of Total Assets | 93.97% |
| Annual Growth Rate | 38.42% |
| 5-Year Change | 405.51% |
| 10-Year Change | 1093.85% |
| Growth Volatility | 148.13 |
Net Assets of Thor Explorations Ltd. (2001–2025)
Net assets of Thor Explorations Ltd. from 2001 to 2025. This chart illustrates how Thor Explorations Ltd.'s net assets have evolved over time, based on quarterly financial data. See Thor Explorations Ltd. (THX) balance sheet quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Thor Explorations Ltd. (2001–2025)
The table below shows the annual net assets of Thor Explorations Ltd. from 2001 to 2025. For live market cap and overall valuation, see THX stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$380.01 Million ≈ $274.89 Million |
+88.82% |
| 2024-12-31 | CA$201.25 Million ≈ $145.58 Million |
+36.04% |
| 2023-12-31 | CA$147.94 Million ≈ $107.02 Million |
+70.47% |
| 2022-12-31 | CA$86.78 Million ≈ $62.78 Million |
+15.44% |
| 2021-12-31 | CA$75.17 Million ≈ $54.38 Million |
-3.52% |
| 2020-12-31 | CA$77.91 Million ≈ $56.36 Million |
+48.17% |
| 2019-12-31 | CA$52.58 Million ≈ $38.04 Million |
+22.76% |
| 2018-12-31 | CA$42.83 Million ≈ $30.99 Million |
+29.40% |
| 2017-12-31 | CA$33.10 Million ≈ $23.95 Million |
+4.00% |
| 2016-12-31 | CA$31.83 Million ≈ $23.03 Million |
+134.82% |
| 2015-12-31 | CA$13.56 Million ≈ $9.81 Million |
+8.19% |
| 2014-12-31 | CA$12.53 Million ≈ $9.06 Million |
+0.91% |
| 2013-12-31 | CA$12.42 Million ≈ $8.98 Million |
+24.20% |
| 2012-12-31 | CA$10.00 Million ≈ $7.23 Million |
+76.13% |
| 2011-12-31 | CA$5.68 Million ≈ $4.11 Million |
+95.73% |
| 2010-12-31 | CA$2.90 Million ≈ $2.10 Million |
-2.54% |
| 2009-12-31 | CA$2.98 Million ≈ $2.15 Million |
+71.37% |
| 2008-12-31 | CA$1.74 Million ≈ $1.26 Million |
-14.60% |
| 2007-12-31 | CA$2.03 Million ≈ $1.47 Million |
+625.59% |
| 2006-12-31 | CA$280.21K ≈ $202.70K |
+182.98% |
| 2005-12-31 | CA$99.02K ≈ $71.63K |
-40.38% |
| 2004-12-31 | CA$166.09K ≈ $120.15K |
+411.63% |
| 2003-12-31 | CA$32.46K ≈ $23.48K |
-67.31% |
| 2002-12-31 | CA$99.30K ≈ $71.83K |
-35.99% |
| 2001-12-31 | CA$155.12K ≈ $112.21K |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Thor Explorations 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 grown by 30422787900.0% over the analyzed period, indicating profitable operations and earnings retention.
Thor Explorations Ltd. Net Assets Breakdown (December 2025)
Thor Explorations Ltd. net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$301.15 Million | 79.25% |
| Other Components | CA$78.86 Million | 20.75% |
| Total Equity | CA$380.01 Million | 100.00% |
Thor Explorations Ltd. Competitors by Market Cap
The table below lists competitors of Thor Explorations Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
HCM II Acquisition Corp
NASDAQ:HOND
|
$414.92 Million |
|
Shenyang Chemical Industry Co Ltd
SHE:000698
|
$414.93 Million |
|
Xiamen Savings Environmental
SHE:300056
|
$415.17 Million |
|
Guangzhou Huayan Precision Machinery Co.Ltd.
SHE:301138
|
$415.29 Million |
|
Bintang Oto Global Tbk PT
JK:BOGA
|
$414.54 Million |
|
Hansa Biopharma AB
ST:HNSA
|
$414.47 Million |
|
PCL Technologies Inc
TW:4977
|
$414.41 Million |
|
Shanghai Rongtai Health Tech
SHG:603579
|
$414.24 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thor Explorations Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 201,253,000 to 380,007,000, a change of 178,754,000 (88.8%).
- Net income of 196,211,000 contributed positively to equity growth.
- Dividend payments of 17,184,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$196.21 Million | +51.63% |
| Dividends Paid | CA$17.18 Million | -4.52% |
| Other Changes | CA$-273.00K | -0.07% |
| Total Change | CA$- | 88.82% |
Book Value vs Market Value Analysis
This analysis compares Thor Explorations 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: 1.51x
- 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 55.31x to 1.51x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | CA$0.02 | CA$0.86 | x |
| 2002-12-31 | CA$0.01 | CA$0.86 | x |
| 2003-12-31 | CA$0.00 | CA$0.86 | x |
| 2004-12-31 | CA$0.01 | CA$0.86 | x |
| 2005-12-31 | CA$0.01 | CA$0.86 | x |
| 2006-12-31 | CA$0.02 | CA$0.86 | x |
| 2007-12-31 | CA$0.09 | CA$0.86 | x |
| 2008-12-31 | CA$0.11 | CA$0.86 | x |
| 2009-12-31 | CA$0.15 | CA$0.86 | x |
| 2010-12-31 | CA$0.08 | CA$0.86 | x |
| 2011-12-31 | CA$0.15 | CA$0.86 | x |
| 2012-12-31 | CA$0.15 | CA$0.86 | x |
| 2013-12-31 | CA$0.14 | CA$0.86 | x |
| 2014-12-31 | CA$0.13 | CA$0.86 | x |
| 2015-12-31 | CA$0.13 | CA$0.86 | x |
| 2016-12-31 | CA$0.19 | CA$0.86 | x |
| 2017-12-31 | CA$0.11 | CA$0.86 | x |
| 2018-12-31 | CA$0.13 | CA$0.86 | x |
| 2019-12-31 | CA$0.14 | CA$0.86 | x |
| 2020-12-31 | CA$0.14 | CA$0.86 | x |
| 2021-12-31 | CA$0.12 | CA$0.86 | x |
| 2022-12-31 | CA$0.13 | CA$0.86 | x |
| 2023-12-31 | CA$0.23 | CA$0.86 | x |
| 2024-12-31 | CA$0.31 | CA$0.86 | x |
| 2025-12-31 | CA$0.57 | CA$0.86 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thor Explorations Ltd. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 51.63%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 60.28%
- • Asset Turnover: 0.80x
- • Equity Multiplier: 1.07x
- Recent ROE (51.63%) is above the historical average (-17.18%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | -39.44% | 0.00% | 0.00x | 1.32x | CA$-76.70K |
| 2002 | -56.21% | 0.00% | 0.00x | 1.22x | CA$-65.75K |
| 2003 | -205.87% | 0.00% | 0.00x | 2.97x | CA$-70.08K |
| 2004 | -39.96% | 0.00% | 0.00x | 1.12x | CA$-82.98K |
| 2005 | -67.74% | 0.00% | 0.00x | 1.37x | CA$-76.98K |
| 2006 | -25.45% | 0.00% | 0.00x | 1.05x | CA$-99.33K |
| 2007 | -16.67% | 0.00% | 0.00x | 1.01x | CA$-542.25K |
| 2008 | -18.24% | 0.00% | 0.00x | 1.01x | CA$-490.42K |
| 2009 | -13.73% | 0.00% | 0.00x | 1.01x | CA$-706.20K |
| 2010 | -2.61% | 0.00% | 0.00x | 1.01x | CA$-365.66K |
| 2011 | -16.37% | 0.00% | 0.00x | 1.07x | CA$-1.50 Million |
| 2012 | -11.52% | 0.00% | 0.00x | 1.05x | CA$-2.15 Million |
| 2013 | -6.65% | 0.00% | 0.00x | 1.04x | CA$-2.06 Million |
| 2014 | -3.82% | 0.00% | 0.00x | 1.05x | CA$-1.72 Million |
| 2015 | -3.40% | 0.00% | 0.00x | 1.05x | CA$-1.82 Million |
| 2016 | -2.66% | 0.00% | 0.00x | 1.08x | CA$-4.03 Million |
| 2017 | -7.99% | 0.00% | 0.00x | 1.09x | CA$-5.96 Million |
| 2018 | -9.79% | 0.00% | 0.00x | 1.06x | CA$-8.48 Million |
| 2019 | -9.29% | 0.00% | 0.00x | 1.02x | CA$-10.15 Million |
| 2020 | -4.97% | 0.00% | 0.00x | 1.82x | CA$-11.66 Million |
| 2021 | -3.34% | -32.14% | 0.03x | 3.50x | CA$-10.03 Million |
| 2022 | 29.27% | 15.38% | 0.74x | 2.57x | CA$16.72 Million |
| 2023 | 9.92% | 7.70% | 0.56x | 2.31x | CA$-123.65K |
| 2024 | 45.30% | 47.21% | 0.69x | 1.39x | CA$71.05 Million |
| 2025 | 51.63% | 60.28% | 0.80x | 1.07x | CA$158.21 Million |
Industry Comparison
This section compares Thor Explorations Ltd.'s net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $677,650,424
- Average return on equity (ROE) among peers: -20.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thor Explorations Ltd. (THX) | CA$458.88 Million | -39.44% | 0.06x | $414.68 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $2.40 Billion |
| Abcourt Mines Inc. (ABI) | $-3.13 Million | 0.00% | 0.00x | $47.48 Million |
| Barrick Gold Corp (ABX) | $3.85 Billion | 10.41% | 0.78x | $61.83 Billion |
| American Eagle Gold Corp (AE) | $830.83K | -165.75% | 0.05x | $133.41 Million |
| Agnico Eagle Mines Limited (AEM) | $110.01 Million | 9.00% | 1.33x | $85.78 Billion |
| Alamos Gold Inc (AGI) | $2.70 Billion | 3.57% | 0.26x | $11.51 Billion |
| AIS Resources Ltd (AIS) | $2.27 Million | 1.48% | 0.03x | $2.02 Million |
| Alliance Mining Corp (ALM) | $-2.44 Million | 0.00% | 0.00x | $2.09 Million |
| Altamira Gold Corp (ALTA) | $2.59 Million | -43.05% | 0.10x | $38.63 Million |
| Almaden Minerals Ltd (AMM) | $9.85 Million | -13.46% | 0.05x | $24.82 Million |
About Thor Explorations Ltd.
Thor Explorations Ltd., together with its subsidiaries, engages in the production, development, and exploration of gold. The company also explores for silver and lithium deposits. Its flagship property is the Segilola Gold Project in Nigeria. Thor Explorations Ltd. was incorporated in 1968 and is based in Vancouver, Canada.