BSP Financial Group Ltd (BFL) - Net Assets

Latest as of December 2025: AU$5.21 Billion AUD ≈ $3.69 Billion USD

Based on the latest financial reports, BSP Financial Group Ltd (BFL) has net assets worth AU$5.21 Billion AUD (≈ $3.69 Billion 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$43.03 Billion ≈ $30.44 Billion USD) and total liabilities (AU$37.82 Billion ≈ $26.76 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 how tangible is BSP Financial Group Ltd's equity to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$5.21 Billion
% of Total Assets	12.11%
Annual Growth Rate	10.25%
5-Year Change	-82.6%
10-Year Change	125.08%
Growth Volatility	279.0

BSP Financial Group Ltd - Net Assets Trend (2012–2025)

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

Annual Net Assets for BSP Financial Group Ltd (2012–2025)

The table below shows the annual net assets of BSP Financial Group Ltd from 2012 to 2025. For live valuation and market cap data, see BFL market cap.

Year	Net Assets	Change
2025-12-31	AU$5.21 Billion ≈ $3.69 Billion	+11.95%
2024-12-31	AU$4.65 Billion ≈ $3.29 Billion	+9.66%
2023-12-31	AU$4.24 Billion ≈ $3.00 Billion	-87.28%
2022-12-31	AU$33.36 Billion ≈ $23.60 Billion	+11.43%
2021-12-31	AU$29.94 Billion ≈ $21.18 Billion	+771.84%
2020-12-31	AU$3.43 Billion ≈ $2.43 Billion	-85.93%
2019-12-31	AU$24.41 Billion ≈ $17.27 Billion	+749.90%
2018-12-31	AU$2.87 Billion ≈ $2.03 Billion	+9.28%
2017-12-31	AU$2.63 Billion ≈ $1.86 Billion	+13.57%
2016-12-31	AU$2.31 Billion ≈ $1.64 Billion	+14.05%
2015-12-31	AU$2.03 Billion ≈ $1.44 Billion	+12.72%
2014-12-31	AU$1.80 Billion ≈ $1.27 Billion	+11.19%
2013-12-31	AU$1.62 Billion ≈ $1.15 Billion	+10.45%
2012-12-31	AU$1.47 Billion ≈ $1.04 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to BSP Financial Group 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 368.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	AU$4.09 Billion	79.09%
Common Stock	AU$372.36 Million	7.20%
Other Comprehensive Income	AU$709.69 Million	13.71%
Other Components	AU$4.00	0.00%
Total Equity	AU$5.18 Billion	100.00%

BSP Financial Group Ltd Competitors by Market Cap

The table below lists competitors of BSP Financial Group Ltd ranked by their market capitalization.

Company	Market Cap
Lakala Payment Co Ltd SHE:300773	$2.75 Billion
Neptune Insurance Holdings Inc. NYSE:NP	$2.75 Billion
CVR Energy Inc NYSE:CVI	$2.75 Billion
Steadfast Group Limited F:1S6	$2.76 Billion
Ballarpur Industries Limited NSE:BALLARPUR	$2.75 Billion
Dialog Group Bhd KLSE:7277	$2.75 Billion
Treasury Wine Estates Ltd AU:TWE	$2.75 Billion
BW LPG Limited NYSE:BWLP	$2.75 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,618,332,000 to 5,175,009,560, a change of 556,677,560 (12.1%).
Net income of 1,251,836,352 contributed positively to equity growth.
Dividend payments of 859,836,401 reduced retained earnings.
Other comprehensive income increased equity by 267,930,997.
Other factors decreased equity by 103,253,388.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	AU$1.25 Billion	+24.19%
Dividends Paid	AU$859.84 Million	-16.62%
Other Comprehensive Income	AU$267.93 Million	+5.18%
Other Changes	AU$-103.25 Million	-2.0%
Total Change	AU$-	12.05%

Book Value vs Market Value Analysis

This analysis compares BSP Financial Group 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: 0.75x
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 2.66x to 0.75x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2012-12-31	AU$3.12	AU$8.32	x
2013-12-31	AU$3.45	AU$8.32	x
2014-12-31	AU$3.84	AU$8.32	x
2015-12-31	AU$4.34	AU$8.32	x
2016-12-31	AU$4.94	AU$8.32	x
2017-12-31	AU$5.61	AU$8.32	x
2018-12-31	AU$6.14	AU$8.32	x
2019-12-31	AU$6.66	AU$8.32	x
2020-12-31	AU$7.35	AU$8.32	x
2021-12-31	AU$8.12	AU$8.32	x
2022-12-31	AU$8.59	AU$8.32	x
2023-12-31	AU$9.08	AU$8.32	x
2024-12-31	AU$9.88	AU$8.32	x
2025-12-31	AU$11.08	AU$8.32	x

Capital Efficiency Dashboard

This dashboard shows how efficiently BSP Financial Group 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): 24.19%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 30.25%
• Asset Turnover: 0.10x
• Equity Multiplier: 8.31x
Recent ROE (24.19%) is below the historical average (26.45%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2012	27.82%	35.84%	0.09x	9.10x	AU$261.15 Million
2013	26.98%	30.26%	0.09x	9.73x	AU$274.92 Million
2014	28.18%	35.68%	0.09x	8.79x	AU$327.32 Million
2015	26.21%	36.50%	0.08x	8.97x	AU$328.96 Million
2016	27.86%	38.00%	0.08x	9.02x	AU$412.47 Million
2017	28.85%	39.41%	0.09x	8.53x	AU$494.62 Million
2018	29.42%	40.89%	0.09x	8.05x	AU$557.22 Million
2019	28.60%	42.97%	0.08x	7.88x	AU$579.04 Million
2020	23.48%	41.34%	0.07x	8.02x	AU$462.92 Million
2021	28.34%	43.92%	0.08x	8.02x	AU$695.80 Million
2022	26.94%	40.62%	0.08x	8.45x	AU$679.84 Million
2023	20.98%	30.55%	0.08x	8.71x	AU$465.95 Million
2024	22.47%	35.04%	0.08x	8.04x	AU$575.88 Million
2025	24.19%	30.25%	0.10x	8.31x	AU$734.34 Million

Industry Comparison

This section compares BSP Financial Group Ltd's net assets metrics with peer companies in the Banks - Regional industry.

Industry Context

Industry: Banks - Regional
Average net assets among peers: $463,339,312
Average return on equity (ROE) among peers: 6.61%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
BSP Financial Group Ltd (BFL)	AU$5.21 Billion	27.82%	7.26x	$2.75 Billion
BNK Banking Corporation Ltd (BBC)	$158.76 Million	0.09%	0.00x	$20.17 Million
Bendigo and Adelaide Bank Ltd (BEN)	$149.69 Million	9.48%	20.18x	$4.18 Billion
Bank of Queensland Ltd (BOQ)	$66.21 Million	10.91%	0.95x	$2.93 Billion
Judo Capital Holdings Ltd (JDO)	$1.48 Billion	4.97%	7.23x	$1.17 Billion
Mystate Ltd (MYS)	$464.94 Million	7.59%	18.72x	$554.68 Million

About BSP Financial Group Ltd

AU:BFL Australia Banks - Regional

Market Cap

$2.75 Billion

AU$3.89 Billion AUD

Market Cap Rank

#5290 Global

#127 in Australia

Share Price

AU$8.32

Change (1 day)

+0.24%

52-Week Range

AU$6.82 - AU$8.99

All Time High

AU$8.99