Dexus Convenience Retail REIT
Dexus Convenience Retail REIT (ASX code: DXC) is a listed Australian real estate investment trust which owns high quality Australian service stations and convenience retail assets. At 30 June 2025, the fund's portfolio is valued at approximately $728 million, is predominantly located on Australia's eastern seaboard and leased to leading Australian and international convenience retail tenants. The… Read more
Dexus Convenience Retail REIT (DXC) - Net Assets
Latest net assets as of June 2025: AU$501.84 Million AUD
Based on the latest financial reports, Dexus Convenience Retail REIT (DXC) has net assets worth AU$501.84 Million AUD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$736.44 Million) and total liabilities (AU$234.59 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$501.84 Million |
| % of Total Assets | 68.14% |
| Annual Growth Rate | 9.85% |
| 5-Year Change | 10.72% |
| 10-Year Change | N/A |
| Growth Volatility | 88.81 |
Dexus Convenience Retail REIT - Net Assets Trend (2016–2025)
This chart illustrates how Dexus Convenience Retail REIT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Dexus Convenience Retail REIT (2016–2025)
The table below shows the annual net assets of Dexus Convenience Retail REIT from 2016 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$501.84 Million | +2.23% |
| 2024-06-30 | AU$490.92 Million | -4.93% |
| 2023-06-30 | AU$516.38 Million | -6.88% |
| 2022-06-30 | AU$554.52 Million | +22.34% |
| 2021-06-30 | AU$453.27 Million | +26.14% |
| 2020-06-30 | AU$359.33 Million | +53.69% |
| 2019-06-30 | AU$233.79 Million | +3.30% |
| 2018-06-30 | AU$226.32 Million | +266.78% |
| 2017-06-30 | AU$61.70 Million | -71.37% |
| 2016-06-30 | AU$215.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Dexus Convenience Retail REIT'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 315.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$94.58 Million | 18.85% |
| Common Stock | AU$407.26 Million | 81.15% |
| Total Equity | AU$501.84 Million | 100.00% |
Dexus Convenience Retail REIT Competitors by Market Cap
The table below lists competitors of Dexus Convenience Retail REIT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Fiyta Holdings Ltd
SHE:200026
|
$210.32 Million |
|
San Yang Ma (Chongqing) Logistics Co.Ltd.
SHE:001317
|
$210.32 Million |
|
Beijing Hanjian Heshan Pipeline Co Ltd
SHG:603616
|
$210.37 Million |
|
Shanghai Aiyingshi Co Ltd
SHG:603214
|
$210.58 Million |
|
TRANSRAILL
NSE:TRANSRAILL
|
$210.19 Million |
|
Columbus Circle Capital Corp I Class A Ordinary Shares
NASDAQ:CCCM
|
$210.13 Million |
|
Jiangsu Feiliks Intl Logistics
SHE:300240
|
$210.11 Million |
|
Anhui Jinchun Nonwoven Co Ltd
SHE:300877
|
$210.11 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Dexus Convenience Retail REIT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 490,916,000 to 501,843,000, a change of 10,927,000 (2.2%).
- Net income of 39,374,000 contributed positively to equity growth.
- Dividend payments of 28,582,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$39.37 Million | +7.85% |
| Dividends Paid | AU$28.58 Million | -5.7% |
| Other Changes | AU$135.00K | +0.03% |
| Total Change | AU$- | 2.23% |
Book Value vs Market Value Analysis
This analysis compares Dexus Convenience Retail REIT'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 1.73x 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 |
|---|---|---|---|
| 2016-06-30 | AU$1.58 | AU$2.73 | x |
| 2017-06-30 | AU$0.89 | AU$2.73 | x |
| 2018-06-30 | AU$2.89 | AU$2.73 | x |
| 2019-06-30 | AU$2.96 | AU$2.73 | x |
| 2020-06-30 | AU$4.03 | AU$2.73 | x |
| 2021-06-30 | AU$3.83 | AU$2.73 | x |
| 2022-06-30 | AU$4.07 | AU$2.73 | x |
| 2023-06-30 | AU$3.75 | AU$2.73 | x |
| 2024-06-30 | AU$3.56 | AU$2.73 | x |
| 2025-06-30 | AU$3.64 | AU$2.73 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Dexus Convenience Retail REIT utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.85%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 70.37%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.47x
- Recent ROE (7.85%) is above the historical average (7.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 2.49% | 79.39% | 0.02x | 1.43x | AU$-16.18 Million |
| 2017 | 7.64% | 91.62% | 0.05x | 1.76x | AU$-1.46 Million |
| 2018 | 7.01% | 60.02% | 0.08x | 1.52x | AU$-6.76 Million |
| 2019 | 10.27% | 75.79% | 0.09x | 1.53x | AU$621.60K |
| 2020 | 12.75% | 137.33% | 0.07x | 1.26x | AU$9.87 Million |
| 2021 | 16.29% | 178.87% | 0.06x | 1.43x | AU$28.49 Million |
| 2022 | 14.90% | 149.10% | 0.06x | 1.57x | AU$27.19 Million |
| 2023 | -1.62% | -14.11% | 0.07x | 1.55x | AU$-60.02 Million |
| 2024 | 0.69% | 5.97% | 0.08x | 1.54x | AU$-45.68 Million |
| 2025 | 7.85% | 70.37% | 0.08x | 1.47x | AU$-10.81 Million |
Industry Comparison
This section compares Dexus Convenience Retail REIT's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $930,327,000
- Average return on equity (ROE) among peers: 3.53%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Dexus Convenience Retail REIT (DXC) | AU$501.84 Million | 2.49% | 0.47x | $210.31 Million |
| Carindale Property Trust (CDP) | $569.84 Million | 4.74% | 0.44x | $80.54 Million |
| Charter Hall Retail REIT (CQR) | $117.24 Million | 0.65% | 0.64x | $1.08 Billion |
| Region Group (RGN) | $2.10 Billion | 5.21% | 0.60x | $1.50 Billion |