Adairs Ltd (ADH) - Net Assets
Based on the latest financial reports, Adairs Ltd (ADH) has net assets worth AU$231.90 Million AUD (≈ $164.08 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$641.69 Million ≈ $454.03 Million USD) and total liabilities (AU$409.79 Million ≈ $289.95 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. Check Adairs Ltd (ADH) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$231.90 Million |
| % of Total Assets | 36.14% |
| Annual Growth Rate | 16.31% |
| 5-Year Change | 36.75% |
| 10-Year Change | 135.56% |
| Growth Volatility | 307.42 |
Adairs Ltd - Net Assets Trend (2000–2025)
This chart illustrates how Adairs Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see how much is Adairs Ltd worth.
Annual Net Assets for Adairs Ltd (2000–2025)
The table below shows the annual net assets of Adairs Ltd from 2000 to 2025. Also explore Adairs Ltd equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$225.17 Million ≈ $159.32 Million |
+0.90% |
| 2024-06-30 | AU$223.16 Million ≈ $157.90 Million |
+10.36% |
| 2023-06-30 | AU$202.22 Million ≈ $143.08 Million |
+2.19% |
| 2022-06-30 | AU$197.88 Million ≈ $140.01 Million |
+20.18% |
| 2021-06-30 | AU$164.66 Million ≈ $116.51 Million |
+17.14% |
| 2020-06-30 | AU$140.57 Million ≈ $99.46 Million |
+18.81% |
| 2019-06-30 | AU$118.32 Million ≈ $83.72 Million |
+1.84% |
| 2018-06-30 | AU$116.18 Million ≈ $82.20 Million |
+15.82% |
| 2017-06-30 | AU$100.31 Million ≈ $70.98 Million |
+4.94% |
| 2016-06-30 | AU$95.59 Million ≈ $67.64 Million |
+22.63% |
| 2015-06-30 | AU$77.95 Million ≈ $55.16 Million |
+86.04% |
| 2014-06-30 | AU$41.90 Million ≈ $29.65 Million |
+20.28% |
| 2013-06-30 | AU$34.84 Million ≈ $24.65 Million |
+0.71% |
| 2012-06-30 | AU$34.59 Million ≈ $24.48 Million |
-9.76% |
| 2011-06-30 | AU$38.33 Million ≈ $27.12 Million |
+1347.27% |
| 2003-06-30 | AU$2.65 Million ≈ $1.87 Million |
-34.56% |
| 2002-06-30 | AU$4.05 Million ≈ $2.86 Million |
-28.93% |
| 2001-06-30 | AU$5.70 Million ≈ $4.03 Million |
+10.58% |
| 2000-06-30 | AU$5.15 Million ≈ $3.64 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Adairs 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 16605000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$134.72 Million | 59.83% |
| Common Stock | AU$91.49 Million | 40.63% |
| Other Comprehensive Income | AU$-1.05 Million | -0.46% |
| Total Equity | AU$225.17 Million | 100.00% |
Adairs Ltd Competitors by Market Cap
The table below lists competitors of Adairs Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Wei Chih Steel Industrial Co Ltd
TW:2028
|
$159.25 Million |
|
Novonix Ltd ADR
NASDAQ:NVX
|
$159.30 Million |
|
GalaxyEdge Acquisition Corporation
NYSE:GLED
|
$159.35 Million |
|
Nordfyns Bank A/S
CO:NRDF
|
$159.36 Million |
|
Shalby Limited
NSE:SHALBY
|
$159.22 Million |
|
Han Kook Capital Co. Ltd
KQ:023760
|
$159.21 Million |
|
HUYA Inc
F:HY5A
|
$159.21 Million |
|
Leatec Fine Ceramics Co Ltd
TWO:6127
|
$159.19 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Adairs Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 223,164,000 to 225,172,000, a change of 2,008,000 (0.9%).
- Net income of 25,682,000 contributed positively to equity growth.
- Dividend payments of 19,749,000 reduced retained earnings.
- Other comprehensive income decreased equity by 4,156,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$25.68 Million | +11.41% |
| Dividends Paid | AU$19.75 Million | -8.77% |
| Other Comprehensive Income | AU$-4.16 Million | -1.85% |
| Other Changes | AU$231.00K | +0.1% |
| Total Change | AU$- | 0.90% |
Book Value vs Market Value Analysis
This analysis compares Adairs 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: 1.00x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 5.47x to 1.00x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-06-30 | AU$0.23 | AU$1.26 | x |
| 2014-06-30 | AU$0.28 | AU$1.26 | x |
| 2015-06-30 | AU$0.51 | AU$1.26 | x |
| 2016-06-30 | AU$0.58 | AU$1.26 | x |
| 2017-06-30 | AU$0.60 | AU$1.26 | x |
| 2018-06-30 | AU$0.70 | AU$1.26 | x |
| 2019-06-30 | AU$0.71 | AU$1.26 | x |
| 2020-06-30 | AU$0.83 | AU$1.26 | x |
| 2021-06-30 | AU$0.94 | AU$1.26 | x |
| 2022-06-30 | AU$1.14 | AU$1.26 | x |
| 2023-06-30 | AU$1.17 | AU$1.26 | x |
| 2024-06-30 | AU$1.27 | AU$1.26 | x |
| 2025-06-30 | AU$1.26 | AU$1.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Adairs Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.41%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.16%
- • Asset Turnover: 0.94x
- • Equity Multiplier: 2.91x
- Recent ROE (11.41%) is above the historical average (5.49%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | -61.59% | -23.93% | 2.52x | 1.02x | AU$-3.69 Million |
| 2001 | -6.20% | -68.02% | 0.09x | 1.03x | AU$-922.50K |
| 2002 | -34.84% | -372.05% | 0.08x | 1.11x | AU$-1.81 Million |
| 2003 | -52.80% | -149.42% | 0.32x | 1.11x | AU$-1.66 Million |
| 2013 | -2.51% | -0.42% | 1.22x | 4.88x | AU$-4.36 Million |
| 2014 | 16.19% | 4.04% | 0.90x | 4.45x | AU$2.59 Million |
| 2015 | 3.77% | 1.40% | 1.34x | 2.02x | AU$-4.85 Million |
| 2016 | 28.43% | 10.73% | 1.38x | 1.92x | AU$17.61 Million |
| 2017 | 20.95% | 7.93% | 1.38x | 1.92x | AU$10.99 Million |
| 2018 | 26.30% | 9.71% | 1.61x | 1.68x | AU$18.94 Million |
| 2019 | 25.05% | 8.61% | 1.70x | 1.72x | AU$17.81 Million |
| 2020 | 25.10% | 9.07% | 1.00x | 2.77x | AU$21.22 Million |
| 2021 | 38.71% | 12.75% | 1.20x | 2.52x | AU$47.28 Million |
| 2022 | 22.69% | 7.95% | 0.90x | 3.17x | AU$25.10 Million |
| 2023 | 18.71% | 6.09% | 1.04x | 2.95x | AU$17.62 Million |
| 2024 | 13.93% | 5.23% | 0.97x | 2.74x | AU$8.77 Million |
| 2025 | 11.41% | 4.16% | 0.94x | 2.91x | AU$3.16 Million |
Industry Comparison
This section compares Adairs Ltd's net assets metrics with peer companies in the Specialty Retail industry.
Industry Context
- Industry: Specialty Retail
- Average net assets among peers: $296,232,698
- Average return on equity (ROE) among peers: 19.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Adairs Ltd (ADH) | AU$231.90 Million | -61.59% | 1.77x | $159.24 Million |
| Adore Beauty Group Ltd (ABY) | $1.98 Million | 84.27% | 4.06x | $19.94 Million |
| Bapcor Ltd (BAP) | $642.35 Million | 14.74% | 0.91x | $188.52 Million |
| Baby Bunting Group Ltd (BBN) | $94.13 Million | 13.01% | 0.42x | $106.02 Million |
| Beacon Lighting Group Ltd (BLX) | $165.79 Million | 18.16% | 1.21x | $286.41 Million |
| Cash Converters International (CCV) | $50.37 Million | 0.63% | 0.58x | $140.97 Million |
| Dusk Group Ltd (DSK) | $31.77 Million | 13.86% | 1.73x | $32.60 Million |
| Harvey Norman Holdings Ltd (HVN) | $101.79 Million | 0.00% | 1.55x | $3.71 Billion |
| JB Hi-Fi Ltd (JBH) | $1.56 Billion | 28.14% | 1.24x | $5.20 Billion |
| Joyce Corporation Ltd (JYC) | $18.81 Million | 4.81% | 2.13x | $127.63 Million |
About Adairs Ltd
Adairs Limited operates as a specialty retailer of home furnishings, furniture, and decoration products in Australia and New Zealand. The company operates through three segments: Adairs, Focus on Furniture, and Mocka. It offers bedroom products, such as bedlinen, bedding, and bedroom furniture and accessories; bathroom and laundry products, including towels, bath mats and runners, bathrobes and s… Read more