Australian Foundation Investment Company Ltd (AFI) - Net Assets
Based on the latest financial reports, Australian Foundation Investment Company Ltd (AFI) has net assets worth AU$8.22 Billion AUD (≈ $5.82 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$9.82 Billion ≈ $6.95 Billion USD) and total liabilities (AU$1.59 Billion ≈ $1.13 Billion 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 Australian Foundation Investment Company strategic capital allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$8.22 Billion |
| % of Total Assets | 83.76% |
| Annual Growth Rate | 9.92% |
| 5-Year Change | 17.62% |
| 10-Year Change | 1394.9% |
| Growth Volatility | 238.47 |
Australian Foundation Investment Company Ltd - Net Assets Trend (1989–2026)
This chart illustrates how Australian Foundation Investment Company Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see AFI market cap.
Annual Net Assets for Australian Foundation Investment Company Ltd (1989–2026)
The table below shows the annual net assets of Australian Foundation Investment Company Ltd from 1989 to 2026. Also explore net asset momentum of Australian Foundation Investment Company to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-06-30 | AU$8.22 Billion ≈ $5.82 Billion |
-5.94% |
| 2025-06-30 | AU$8.74 Billion ≈ $6.18 Billion |
+5.80% |
| 2024-06-30 | AU$8.26 Billion ≈ $5.85 Billion |
+9.31% |
| 2023-06-30 | AU$7.56 Billion ≈ $5.35 Billion |
+8.11% |
| 2022-06-30 | AU$6.99 Billion ≈ $4.95 Billion |
-7.52% |
| 2021-06-30 | AU$7.56 Billion ≈ $5.35 Billion |
+21.13% |
| 2020-06-30 | AU$6.24 Billion ≈ $4.42 Billion |
-5.80% |
| 2019-06-30 | AU$6.62 Billion ≈ $4.69 Billion |
+4.50% |
| 2018-06-30 | AU$6.34 Billion ≈ $4.49 Billion |
+1052.59% |
| 2017-12-31 | AU$550.00 Million ≈ $389.16 Million |
-90.78% |
| 2017-06-30 | AU$5.97 Billion ≈ $4.22 Billion |
+856.78% |
| 2016-12-31 | AU$623.50 Million ≈ $441.17 Million |
-88.47% |
| 2016-06-30 | AU$5.41 Billion ≈ $3.83 Billion |
+766.75% |
| 2015-12-31 | AU$624.00 Million ≈ $441.52 Million |
-88.54% |
| 2015-06-30 | AU$5.45 Billion ≈ $3.85 Billion |
+5.06% |
| 2014-06-30 | AU$5.18 Billion ≈ $3.67 Billion |
+12.05% |
| 2013-06-30 | AU$4.63 Billion ≈ $3.27 Billion |
+17.09% |
| 2012-06-30 | AU$3.95 Billion ≈ $2.80 Billion |
-6.69% |
| 2011-06-30 | AU$4.23 Billion ≈ $3.00 Billion |
+6.48% |
| 2010-06-30 | AU$3.98 Billion ≈ $2.81 Billion |
+11.69% |
| 2009-06-30 | AU$3.56 Billion ≈ $2.52 Billion |
-16.28% |
| 2008-06-30 | AU$4.25 Billion ≈ $3.01 Billion |
-10.64% |
| 2007-06-30 | AU$4.76 Billion ≈ $3.37 Billion |
+24.83% |
| 2006-06-30 | AU$3.81 Billion ≈ $2.70 Billion |
+1.05% |
| 2005-06-30 | AU$3.77 Billion ≈ $2.67 Billion |
+20.78% |
| 2004-06-30 | AU$3.12 Billion ≈ $2.21 Billion |
+26.00% |
| 2003-06-30 | AU$2.48 Billion ≈ $1.75 Billion |
+2.03% |
| 2002-06-30 | AU$2.43 Billion ≈ $1.72 Billion |
+3.14% |
| 2001-06-30 | AU$2.36 Billion ≈ $1.67 Billion |
+17.24% |
| 2000-06-30 | AU$2.01 Billion ≈ $1.42 Billion |
+4.90% |
| 1999-06-30 | AU$1.92 Billion ≈ $1.36 Billion |
+22.21% |
| 1998-06-30 | AU$1.57 Billion ≈ $1.11 Billion |
+12.88% |
| 1997-06-30 | AU$1.39 Billion ≈ $982.58 Million |
+47.17% |
| 1996-06-30 | AU$943.61 Million ≈ $667.66 Million |
+12.56% |
| 1995-06-30 | AU$838.34 Million ≈ $593.18 Million |
+2.62% |
| 1994-06-30 | AU$816.90 Million ≈ $578.01 Million |
+13.06% |
| 1993-06-30 | AU$722.55 Million ≈ $511.25 Million |
+17.80% |
| 1992-06-30 | AU$613.35 Million ≈ $433.98 Million |
+101.13% |
| 1991-06-30 | AU$304.95 Million ≈ $215.77 Million |
+12.97% |
| 1990-06-30 | AU$269.94 Million ≈ $191.00 Million |
+8.74% |
| 1989-06-30 | AU$248.24 Million ≈ $175.65 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Australian Foundation Investment Company 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 3661.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$1.17 Billion | 14.27% |
| Common Stock | AU$3.05 Billion | 37.16% |
| Other Comprehensive Income | AU$3.97 Billion | 48.28% |
| Other Components | AU$23.64 Million | 0.29% |
| Total Equity | AU$8.22 Billion | 100.00% |
Australian Foundation Investment Company Ltd Competitors by Market Cap
The table below lists competitors of Australian Foundation Investment Company Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rhythm Pharmaceuticals Inc
NASDAQ:RYTM
|
$5.84 Billion |
|
Cirrus Logic Inc
NASDAQ:CRUS
|
$5.84 Billion |
|
Marfrig Global Foods S.A.
SA:MRFG3
|
$5.84 Billion |
|
Railway Signal Communication Ltd
SHG:688009
|
$5.84 Billion |
|
Bank of Changsha Co Ltd
SHG:601577
|
$5.83 Billion |
|
WPG Holdings Ltd
TW:3702
|
$5.83 Billion |
|
Shan Dong Sun Paper Industry Joint Stock Co Ltd
SHE:002078
|
$5.83 Billion |
|
Shenzhen Sunlord Electronics Co Ltd
SHE:002138
|
$5.82 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Australian Foundation Investment Company Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 8,738,934,000 to 8,219,714,000, a change of -519,220,000 (-5.9%).
- Net income of 293,105,000 contributed positively to equity growth.
- Dividend payments of 321,938,000 reduced retained earnings.
- Share repurchases of 242,780,000 reduced equity.
- Other comprehensive income decreased equity by 505,972,000.
- Other factors increased equity by 258,365,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$293.11 Million | +3.57% |
| Dividends Paid | AU$321.94 Million | -3.92% |
| Share Repurchases | AU$242.78 Million | -2.95% |
| Other Comprehensive Income | AU$-505.97 Million | -6.16% |
| Other Changes | AU$258.37 Million | +3.14% |
| Total Change | AU$- | -5.94% |
Book Value vs Market Value Analysis
This analysis compares Australian Foundation Investment Company 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: 1.02x
- 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 9.81x to 1.02x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-06-30 | AU$0.69 | AU$6.72 | x |
| 1990-06-30 | AU$0.72 | AU$6.72 | x |
| 1991-06-30 | AU$0.89 | AU$6.72 | x |
| 1992-06-30 | AU$1.33 | AU$6.72 | x |
| 1993-06-30 | AU$1.44 | AU$6.72 | x |
| 1994-06-30 | AU$1.52 | AU$6.72 | x |
| 1995-06-30 | AU$1.52 | AU$6.72 | x |
| 1996-06-30 | AU$1.77 | AU$6.72 | x |
| 1997-06-30 | AU$2.21 | AU$6.72 | x |
| 1998-06-30 | AU$2.60 | AU$6.72 | x |
| 1999-06-30 | AU$2.77 | AU$6.72 | x |
| 2000-06-30 | AU$2.76 | AU$6.72 | x |
| 2001-06-30 | AU$3.18 | AU$6.72 | x |
| 2002-06-30 | AU$3.17 | AU$6.72 | x |
| 2003-06-30 | AU$3.12 | AU$6.72 | x |
| 2004-06-30 | AU$3.61 | AU$6.72 | x |
| 2005-06-30 | AU$4.17 | AU$6.72 | x |
| 2006-06-30 | AU$4.12 | AU$6.72 | x |
| 2007-06-30 | AU$5.03 | AU$6.72 | x |
| 2008-06-30 | AU$4.41 | AU$6.72 | x |
| 2009-06-30 | AU$3.65 | AU$6.72 | x |
| 2010-06-30 | AU$4.03 | AU$6.72 | x |
| 2011-06-30 | AU$4.18 | AU$6.72 | x |
| 2012-06-30 | AU$3.86 | AU$6.72 | x |
| 2013-06-30 | AU$4.47 | AU$6.72 | x |
| 2014-06-30 | AU$4.96 | AU$6.72 | x |
| 2015-06-30 | AU$5.03 | AU$6.72 | x |
| 2016-06-30 | AU$4.85 | AU$6.72 | x |
| 2017-06-30 | AU$5.19 | AU$6.72 | x |
| 2018-06-30 | AU$5.36 | AU$6.72 | x |
| 2019-06-30 | AU$5.55 | AU$6.72 | x |
| 2020-06-30 | AU$5.17 | AU$6.72 | x |
| 2021-06-30 | AU$6.21 | AU$6.72 | x |
| 2022-06-30 | AU$5.70 | AU$6.72 | x |
| 2023-06-30 | AU$6.11 | AU$6.72 | x |
| 2024-06-30 | AU$6.62 | AU$6.72 | x |
| 2025-06-30 | AU$6.97 | AU$6.72 | x |
| 2026-06-30 | AU$6.57 | AU$6.72 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Australian Foundation Investment Company Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.57%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 86.09%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.19x
- Recent ROE (3.57%) is below the historical average (4.53%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | 6.72% | 0.00% | 0.00x | 1.06x | AU$-8.14 Million |
| 1991 | 9.13% | 0.00% | 0.00x | 1.06x | AU$-2.85 Million |
| 1992 | 3.95% | 0.00% | 0.00x | 1.03x | AU$-40.99 Million |
| 1994 | 4.91% | 0.00% | 0.00x | 1.14x | AU$-41.58 Million |
| 1995 | 5.86% | 0.00% | -0.01x | 1.13x | AU$-34.69 Million |
| 1996 | 6.18% | 0.00% | -0.01x | 1.12x | AU$-36.05 Million |
| 1997 | 4.68% | 0.00% | 0.00x | 1.08x | AU$-73.90 Million |
| 1998 | 5.28% | 0.00% | -0.01x | 1.07x | AU$-73.96 Million |
| 1999 | 4.89% | 0.00% | 0.00x | 1.10x | AU$-97.89 Million |
| 2000 | 5.14% | 0.00% | -0.01x | 1.13x | AU$-97.58 Million |
| 2001 | 4.42% | 0.00% | 0.00x | 1.13x | AU$-131.42 Million |
| 2002 | 3.56% | 91.64% | 0.04x | 1.04x | AU$-156.58 Million |
| 2003 | 4.15% | 84.40% | 0.05x | 1.01x | AU$-145.14 Million |
| 2004 | 3.98% | 95.73% | 0.04x | 1.00x | AU$-188.15 Million |
| 2005 | 4.21% | 90.73% | 0.05x | 1.01x | AU$-218.48 Million |
| 2006 | 5.61% | 87.83% | 0.05x | 1.19x | AU$-167.23 Million |
| 2007 | 5.45% | 90.77% | 0.05x | 1.23x | AU$-216.63 Million |
| 2008 | 9.78% | 81.16% | 0.10x | 1.20x | AU$-9.20 Million |
| 2009 | 2.90% | 44.17% | 0.06x | 1.15x | AU$-252.73 Million |
| 2010 | 4.62% | 89.35% | 0.04x | 1.15x | AU$-214.09 Million |
| 2011 | 5.51% | 91.79% | 0.05x | 1.16x | AU$-190.19 Million |
| 2012 | 5.56% | 92.22% | 0.05x | 1.22x | AU$-175.31 Million |
| 2013 | 5.25% | 92.39% | 0.05x | 1.24x | AU$-219.92 Million |
| 2014 | 4.90% | 92.67% | 0.04x | 1.25x | AU$-264.12 Million |
| 2015 | 5.39% | 93.23% | 0.05x | 1.22x | AU$-251.04 Million |
| 2015 | 4.74% | 2.49% | 1.37x | 1.40x | AU$-32.80 Million |
| 2016 | 4.91% | 95.27% | 0.04x | 1.19x | AU$-275.17 Million |
| 2016 | 1.48% | 0.77% | 1.32x | 1.45x | AU$-53.15 Million |
| 2017 | 4.11% | 92.27% | 0.04x | 1.16x | AU$-351.48 Million |
| 2017 | -7.60% | -3.69% | 1.29x | 1.60x | AU$-96.80 Million |
| 2018 | 4.40% | 90.52% | 0.04x | 1.18x | AU$-355.15 Million |
| 2019 | 6.13% | 93.14% | 0.06x | 1.18x | AU$-256.43 Million |
| 2020 | 3.85% | 87.90% | 0.04x | 1.16x | AU$-384.06 Million |
| 2021 | 3.10% | 88.45% | 0.03x | 1.21x | AU$-521.14 Million |
| 2022 | 5.16% | 91.69% | 0.05x | 1.18x | AU$-338.40 Million |
| 2023 | 4.10% | 88.82% | 0.04x | 1.19x | AU$-445.84 Million |
| 2024 | 3.59% | 87.30% | 0.03x | 1.20x | AU$-529.79 Million |
| 2025 | 3.26% | 86.23% | 0.03x | 1.21x | AU$-588.98 Million |
| 2026 | 3.57% | 86.09% | 0.03x | 1.19x | AU$-528.87 Million |
Industry Comparison
This section compares Australian Foundation Investment Company Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $603,933,800
- Average return on equity (ROE) among peers: -5.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Australian Foundation Investment Company Ltd (AFI) | AU$8.22 Billion | 6.72% | 0.19x | $5.83 Billion |
| Acorn Capital Investment Fund Ltd (ACQ) | $66.61 Million | 17.87% | 0.11x | $56.77 Million |
| Australian Ethical Investment Ltd (AEF) | $6.71 Million | 6.00% | 0.29x | $324.58 Million |
| Alternative Investment Trust (AIQ) | $47.85 Million | -0.38% | 0.00x | $33.44 Million |
| Argo Global Listed Infrastructure Ltd (ALI) | $400.44 Million | 7.46% | 0.05x | $331.91 Million |
| Amcil Ltd (AMH) | $335.34 Million | 2.02% | 0.15x | $199.18 Million |
| Associate Global Partners Ltd (APL) | $10.90 Million | -47.77% | 0.35x | $10.38 Million |
| Ariadne Australia Ltd (ARA) | $150.46 Million | -1.94% | 0.04x | $63.94 Million |
| ARC Funds Ltd (ARC) | $5.68 Million | -37.27% | 0.47x | $3.50 Million |
| Argo Investments Ltd (ARG) | $4.41 Billion | 5.17% | 0.14x | $4.90 Billion |
About Australian Foundation Investment Company Ltd
Australian Foundation Investment Company Limited is a publicly owned investment manager. The firm invests in the public equity markets of Australia and New Zealand. It invests in value stocks of companies. It benchmarks the performance of its portfolio against S&P/ASX 200 Accumulation Index. It invests in companies across diversified industries. The firm employs fundamental analysis with a focus … Read more