Urbana Corporation

Urbana Corporation

URB.TO
Urbana CorporationCA flagToronto Stock Exchange
8.75
CAD
+0.14
- -
355.86MMarket Cap
Urbana Corporation
URB.TO
(Toronto Stock Exchange)

Recent

price

8.75

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.02
-0.18
0.19
0.94
0.42
0.23
1.2
0.68
-0.85
1.17
0.33
1.59
0.56
1.91
2.82
1.98
2.77
Revenue per Share
-0.22
-0.18
0.1
0.9
0.35
0.19
1.02
0.57
-0.78
1.02
0.27
1.37
0.45
1.68
2.46
1.67
2.36
Basic EPS, GAAP
0.02
- -
0.06
-0.11
0.24
0.16
-0.05
0.51
0.44
-0.67
0.34
0.15
0.05
-0.15
1.59
-0.93
-0.58
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.05
0.05
0.05
0.1
0.1
0.07
0.08
0.09
0.1
0.11
0.12
0.13
0.14
Dividend per Share
-1.08
1.14
1.15
1.76
2.08
2.15
3.19
3.66
2.82
3.74
3.77
5.31
5.78
7.44
9.78
11.32
11.71
Book Value per Share
1.9
1.63
1.81
2.68
3.15
3.36
4.46
4.98
4.15
5.08
5.2
6.87
7.36
9.05
11.39
12.93
13.32
Tangible Book Value per Share
85
78
71
65
59
55
53
50
50
50
48
44
42
41
41
41
41
Basic Weighted Avg Shares
2
-14
14
61
25
13
64
34
-43
59
16
70
23
79
117
82
114
Sales/Revenue/Turnover
-165.15
55.98
8.57
-1.98
99.41
86.07
96.31
95.38
103.43
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-18
-14
7
59
21
10
54
29
-39
51
13
60
19
70
102
69
98
Net Income, GAAP
- -
- -
42.06
0.03
12.43
4.86
10.85
11.01
- -
10.66
8.75
11.76
11.93
10.16
10.92
10.86
11.04
Effective Tax Rate (%)
-988.26
95.32
52.65
96.37
84.09
79.82
85.35
84.03
91.13
86.67
81.77
86.07
80.7
87.77
87.14
84.66
85.3
Profit Margin (%)
155
132
139
-6
-6
-9
-23
-15
16
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
14
- -
9
4
6
12
- -
- -
22
23
24
32
43
- -
26
31
LT Debt
163
127
129
175
187
186
237
251
207
254
249
301
310
375
471
535
551
Total Equity
- -
- -
0.49
-0.75
11.1
5.37
23.39
10.84
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
7.86
54.68
15.57
8.11
33.86
15.37
- -
29.04
6.35
26.09
7.12
22.23
26.95
15.4
21.49
Return on Capital (%)
- -
- -
8.57
60.03
17.52
8.5
37.7
16.27
-23.87
30.98
7.12
29.02
7.95
25.24
28.57
15.85
22.26
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
41
41
41
Market Capitalization
315
402
398

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
- -
1
1
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.05%
16.81%
13.54%
Free Cash Flow
-352.88%
-374.26%
-158.26%
Net Income, GAAP
41.22%
114.4%
-31.99%
Sales/Revenue/Turnover
33.69%
104.93%
-30%
Total Cash Common Dividend
9.85%
6.38%
8.33%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
47
-8
27
50
117
2025
-7
22
46
21
82
2026
26
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.99
-0.17
0.58
- -
2.46
2025
-0.16
0.44
0.96
- -
1.67
2026
0.53
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
- -
- -
- -
0.12
2025
0.13
- -
- -
- -
0.13
2026
0.14
- -
- -
- -
- -
Business
Urbana Corporation (TSX, CSE: URB, URB.A) is a Toronto-based closed-end investment company founded in 1947 and headquartered at 150 King Street West, Suite 1702, Toronto, Ontario, that provides long-term capital appreciation and income to shareholders through a diversified portfolio combining publicly traded securities and private equity investments primarily in the financial services sector, including stock exchanges, banks, broker-dealers, investment managers, digital asset custodians, and trading technologies; its core offerings encompass actively managed liquid public market positions for growth, income, and liquidity alongside high-potential private holdings such as a majority equity interest in Tetra Digital Group Inc. (parent of Tetra Trust Company, a leading Canadian institutional digital asset custodian), approximately 35% ownership in Blue Ocean Technologies LLC (provider of overnight U.S. equity trading systems for global markets), a significant stake in the Canadian Securities Exchange (which operates a senior listing tier and recently completed the acquisition of Australia's National Stock Exchange), interests in Evolve Funds Group Inc., Integrated Grain Processors Co-operative Inc., and select resource exploration ventures like the Urban Gold Project. The company operates principally in Canada and the United States with global exposure through investments in international exchanges and fintech; it is managed by Caldwell Investment Management Ltd. and leverages permanent capital, occasional leverage via borrowing or preferred shares, and normal course issuer bids to enhance shareholder value, including a renewal in September 2025 allowing purchases of up to 10% of its Class A shares public float. Recent developments include an additional $3.5 million investment in September 2025 to maintain its majority position in Tetra Digital Group amid Tetra's $10 million financing round with strategic partners like Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, and Shopify to launch Canada's first Canadian dollar-backed stablecoin using Tetra's custody infrastructure; congratulations to the Canadian Securities Exchange in October 2025 for finalizing its National Stock Exchange of Australia acquisition following the May 2025 announcement, Tetra Trust's selection by Wealthsimple in May 2025 for digital asset custody, an August 2025 announcement of an investee's initial public offering, intersection of 6.98 g/t gold over 6.00 meters at the Urban Gold Project in August 2025, six consecutive dividend increases culminating in a 8.3% rise announced in January 2025, and filing of 2025 third quarter interim financial statements in November 2025 reflecting net asset value per share of $12.69 as of November 21, 2025.

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