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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Pinetree Capital
Pinetree Capital (PNP) investor relations material
Pinetree Capital Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Equity was $94,511 thousand at Sep. 30, 2026; book value per share (BVPS) rose to $10.07 from $9.33 at Dec. 31, 2025, an increase of $0.74 or 8%.
Nine-month net income was $6,925 thousand versus $10,975 thousand in 2025; Q3 net income was $11,948 thousand versus $1,983 thousand.
Financial highlights
Q3 net investment gains were $11,182 thousand versus $1,854 thousand; 9M gains were $5,870 thousand versus $10,937 thousand.
Q3 other income was $1,510 thousand versus $544 thousand, including $1,465 thousand in dividends and $45 thousand in interest income.
Q3 expenses were $549 thousand versus $497 thousand; 9M expenses were $1,549 thousand versus $1,293 thousand.
Key financial ratios and metrics
Basic and fully diluted EPS was $1.27 in Q3 2026 versus $0.21 in Q3 2025; 9M EPS was $0.74 versus $1.17.
Trailing 12-month expenses were $1,895 thousand, or 2.0% of Sep. 30, 2026 book value, versus $1,716 thousand and 1.9% a year earlier.
Shares outstanding remained 9,387,000; total assets were $96,384 thousand and liabilities were $1,873 thousand at Sep. 30, 2026.
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Latest events from Pinetree Capital
- Q2 2026 saw strong investment gains, higher EPS, and key management changes.PNP
Q2 2026 - Q1 2026 saw a net loss and lower BVPS, but a takeover offer post-quarter improved outlook.PNPQ1 2026
- Book value per share climbed 22% YTD, despite a Q2 net loss of $970,000.PNPQ2 2024
- Q3 2024 delivered strong net income and book value growth, with a new CIO appointed.PNPQ3 2024
- Book value per share grew 13% year-over-year, but net income and gains fell sharply.PNPQ4 2025
- Book value per share rose 14% year-to-date, despite lower Q3 net income and investment gains.PNPQ3 2025
- Book value per share rose 12% YTD, but Q2 2025 ended with a net loss and higher investment losses.PNPQ2 2025
- Book value per share jumped 14% to $9.41, but market volatility is pressuring gains.PNPQ1 2025
- Net income and book value per share soared in 2024 on robust investment gains.PNPQ4 2024
Next Pinetree Capital earnings date
Q4 20263 Mar, 2027
Pinetree Capital
Next Pinetree Capital earnings date
Q4 20263 Mar, 2027
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Frequently asked questions
Pinetree Capital Ltd. is a Canada-based investment company with a focus on enterprise software and technology sectors. The company aims to maximize shareholder value through investments in equity, debt, and convertible securities, holding approximately 8-12 investments at any given time. These investments typically result in equity positions ranging between 7% and 12% of assets. Pinetree Capital is also a venture capital and private equity firm, specializing in various stages of venture investments, from early, mid, and later stages to middle market, mature, later stage, turnaround, emerging growth, and growth capital investments, primarily targeting micro and small cap companies. The company is headquartered in Toronto, Canada, and its shares are listed on the Toronto Stock Exchange.