Cymbria (CYB) Q4 2025 earnings summary

Executive summary

• Achieved a 16.7% increase in Class A adjusted net asset value (aNAV) in 2025, outperforming the MSCI World Index's 15.4% gain (C$).

• Shareholders' equity rose 16.3% to $1,983 million, driven by strong investment performance and a 37% increase in EdgePoint dividends.

• Portfolio activity was high, with 26 new investments, 18 exits, and 19 additions to existing holdings.

• Continued focus on concentrated, high-conviction global equities and a 20.7% stake in EdgePoint Wealth Management.

Financial highlights

• Net comprehensive income for 2025 was $282.0 million, up from $200.5 million in 2024.

• Net realized gain on investments: $164.7 million; unrealized gain: $123.4 million.

• Dividend and interest income totaled $57.6 million, including $31.8 million from EdgePoint (up 37% YoY).

• Management fees were $13.3 million, with an effective annualized rate of 0.84% for Class A and 0.42% for Class J.

• Cash and cash equivalents increased by $57.2 million to $172.5 million.

Outlook and guidance

• Management expects continued market volatility and remains focused on leveraging dislocations to strengthen the portfolio.

• Ongoing commitment to a long-term, value-driven investment approach, seeking opportunities in overlooked sectors and regions.