Appen Ltd (APX) - Net Assets

Latest as of December 2025: AU$94.67 Million AUD ≈ $66.98 Million USD

Based on the latest financial reports, Appen Ltd (APX) has net assets worth AU$94.67 Million AUD (≈ $66.98 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$152.57 Million ≈ $107.95 Million USD) and total liabilities (AU$57.90 Million ≈ $40.97 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 Appen Ltd (APX) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$94.67 Million
% of Total Assets	62.05%
Annual Growth Rate	51.42%
5-Year Change	-75.77%
10-Year Change	167.4%
Growth Volatility	797.77

Appen Ltd - Net Assets Trend (2009–2025)

This chart illustrates how Appen Ltd's net assets have evolved over time, based on quarterly financial data. See Appen Ltd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Appen Ltd (2009–2025)

The table below shows the annual net assets of Appen Ltd from 2009 to 2025. For live valuation and market cap data, see APX stock market capitalisation.

Year	Net Assets	Change
2025-12-31	AU$94.67 Million ≈ $66.98 Million	-17.19%
2024-12-31	AU$114.32 Million ≈ $80.89 Million	+23.33%
2023-12-31	AU$92.69 Million ≈ $65.59 Million	-37.84%
2022-12-31	AU$149.13 Million ≈ $105.52 Million	-61.83%
2021-12-31	AU$390.67 Million ≈ $276.43 Million	-19.33%
2020-12-31	AU$484.27 Million ≈ $342.65 Million	+0.52%
2019-12-31	AU$481.78 Million ≈ $340.89 Million	+245.61%
2018-12-31	AU$139.40 Million ≈ $98.63 Million	+49.23%
2017-12-31	AU$93.41 Million ≈ $66.09 Million	+163.85%
2016-12-31	AU$35.40 Million ≈ $25.05 Million	+69.67%
2015-12-31	AU$20.87 Million ≈ $14.76 Million	+23.49%
2014-12-31	AU$16.90 Million ≈ $11.96 Million	+8.31%
2013-12-31	AU$15.60 Million ≈ $11.04 Million	+165.85%
2012-12-31	AU$5.87 Million ≈ $4.15 Million	+42.19%
2011-12-31	AU$4.13 Million ≈ $2.92 Million	+3228.23%
2009-12-31	AU$124.00K ≈ $87.74K	--

Equity Component Analysis

This analysis shows how different components contribute to Appen 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 decreased by 47197.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	AU$366.96 Million	387.63%
Other Comprehensive Income	AU$132.28 Million	139.73%
Total Equity	AU$94.67 Million	100.00%

Appen Ltd Competitors by Market Cap

The table below lists competitors of Appen Ltd ranked by their market capitalization.

Company	Market Cap
Banco Hipotecario SA BA:BHIP	$208.05 Million
Inspired Entertainment Inc NASDAQ:INSE	$208.07 Million
Somboon Advance Technology Public Company Limited BK:SAT	$208.07 Million
Stoneridge Inc NYSE:SRI	$208.10 Million
GRM Overseas Limited NSE:GRMOVER	$207.98 Million
Pitanium Ltd NASDAQ:PTNM	$207.93 Million
EIH Associated Hotels Limited NSE:EIHAHOTELS	$207.88 Million
Go Fashion (India) Limited NSE:GOCOLORS	$207.87 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Appen Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 114,316,000 to 94,667,839, a change of -19,648,161 (-17.2%).
Net loss of 22,578,843 reduced equity.
Other comprehensive income increased equity by 3,502,202.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	AU$-22.58 Million	-23.85%
Other Comprehensive Income	AU$3.50 Million	+3.7%
Other Changes	AU$-571.52K	-0.6%
Total Change	AU$-	-17.19%

Book Value vs Market Value Analysis

This analysis compares Appen 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: 3.06x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 5.75x to 3.06x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2013-12-31	AU$0.19	AU$1.10	x
2014-12-31	AU$0.20	AU$1.10	x
2015-12-31	AU$0.21	AU$1.10	x
2016-12-31	AU$0.31	AU$1.10	x
2017-12-31	AU$0.83	AU$1.10	x
2018-12-31	AU$1.14	AU$1.10	x
2019-12-31	AU$3.54	AU$1.10	x
2020-12-31	AU$3.46	AU$1.10	x
2021-12-31	AU$2.77	AU$1.10	x
2022-12-31	AU$1.07	AU$1.10	x
2023-12-31	AU$0.65	AU$1.10	x
2024-12-31	AU$0.50	AU$1.10	x
2025-12-31	AU$0.36	AU$1.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Appen 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): -23.85%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -9.45%
• Asset Turnover: 1.57x
• Equity Multiplier: 1.61x
Recent ROE (-23.85%) is below the historical average (-10.67%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	10.19%	2.61%	2.56x	1.53x	AU$30.42K
2014	8.22%	3.17%	1.69x	1.53x	AU$-300.89K
2015	28.99%	7.31%	2.70x	1.47x	AU$3.96 Million
2016	29.63%	9.45%	2.05x	1.53x	AU$6.95 Million
2017	11.93%	6.69%	0.89x	2.01x	AU$1.80 Million
2018	29.93%	11.46%	1.52x	1.72x	AU$27.79 Million
2019	8.64%	7.77%	0.84x	1.32x	AU$-6.57 Million
2020	8.02%	6.48%	1.00x	1.24x	AU$-9.59 Million
2021	5.29%	4.63%	0.89x	1.28x	AU$-18.40 Million
2022	-158.03%	-61.59%	1.49x	1.72x	AU$-250.59 Million
2023	-86.83%	-28.71%	1.81x	1.67x	AU$-89.65 Million
2024	-10.83%	-5.29%	1.37x	1.49x	AU$-23.82 Million
2025	-23.85%	-9.45%	1.57x	1.61x	AU$-32.05 Million

Industry Comparison

This section compares Appen Ltd's net assets metrics with peer companies in the Information Technology Services industry.

Industry Context

Industry: Information Technology Services
Average net assets among peers: $10,027,235
Average return on equity (ROE) among peers: -150.64%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Appen Ltd (APX)	AU$94.67 Million	10.19%	0.61x	$208.05 Million
5G Networks Ltd (5GN)	$28.93 Million	-86.00%	3.80x	$15.67 Million
Adneo Ltd (AD1)	$100.22K	-1407.71%	6.51x	$6.19 Million
Adisyn Ltd (AI1)	$-130.07K	0.00%	0.00x	$128.76 Million
Asset Vision Co Ltd (ASV)	$5.08 Million	-7.60%	0.41x	$21.79 Million
Atturra Ltd (ATA)	$-8.32 Million	0.00%	0.00x	$115.02 Million
Activeport Group Ltd (ATV)	$28.08 Million	-23.77%	0.41x	$11.37 Million
Change Financial Ltd (CCA)	$8.44 Million	-34.59%	0.81x	$38.11 Million
Comms Group Ltd (CCG)	$27.98 Million	2.03%	0.35x	$27.81 Million
Credit Clear Ltd (CCR)	$84.03K	201.88%	30.80x	$77.47 Million

About Appen Ltd

AU:APX Australia Information Technology Services

Market Cap

$208.05 Million

AU$294.03 Million AUD

Market Cap Rank

#16503 Global

#465 in Australia

Share Price

AU$1.10

Change (1 day)

+0.46%

52-Week Range

AU$0.65 - AU$1.90

All Time High

AU$37.81