Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $53.4 billion. The Dexus platform includes the Dexus investment portfolio and the funds management business. We directly and indirectly own $14.5 billion of office, industrial, retail, healthcare, infrastructure and alternatives. We manage a further $38.9 billion of investments in our funds management business which provides third party capital with exposure to quality s… Read more
Dexus Property Group (DXS) - Net Assets
Latest net assets as of December 2024: AU$9.98 Billion AUD
Based on the latest financial reports, Dexus Property Group (DXS) has net assets worth AU$9.98 Billion AUD as of December 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$15.58 Billion) and total liabilities (AU$5.60 Billion). 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
| Current Net Assets | AU$9.98 Billion | % of Total Assets | 64.07% |
|---|---|---|---|
| Annual Growth Rate | 10.52% | 5-Year Change | -15.86% |
| 10-Year Change | 49.98% | Growth Volatility | 37.11 |
Dexus Property Group - Net Assets Trend (2000–2024)
This chart illustrates how Dexus Property Group'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 Property Group (2000–2024)
The table below shows the annual net assets of Dexus Property Group from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-06-30 | AU$10.16 Billion | -17.12% |
| 2023-06-30 | AU$12.26 Billion | -9.60% |
| 2022-06-30 | AU$13.57 Billion | +8.46% |
| 2021-06-30 | AU$12.51 Billion | +3.54% |
| 2020-06-30 | AU$12.08 Billion | +2.88% |
| 2019-06-30 | AU$11.74 Billion | +16.88% |
| 2018-06-30 | AU$10.05 Billion | +13.86% |
| 2017-06-30 | AU$8.82 Billion | +17.30% |
| 2016-06-30 | AU$7.52 Billion | +11.00% |
| 2015-06-30 | AU$6.78 Billion | +11.96% |
| 2014-06-30 | AU$6.05 Billion | +16.60% |
| 2013-06-30 | AU$5.19 Billion | +3.68% |
| 2012-06-30 | AU$5.01 Billion | -5.64% |
| 2011-06-30 | AU$5.31 Billion | +6.00% |
| 2010-06-30 | AU$5.01 Billion | -2.72% |
| 2009-06-30 | AU$5.15 Billion | -11.81% |
| 2008-06-30 | AU$5.84 Billion | +2.28% |
| 2007-06-30 | AU$5.70 Billion | +20.98% |
| 2006-06-30 | AU$4.72 Billion | +20.87% |
| 2005-06-30 | AU$3.90 Billion | +20.75% |
| 2004-06-30 | AU$3.23 Billion | +184.90% |
| 2003-06-30 | AU$1.13 Billion | +5.90% |
| 2002-06-30 | AU$1.07 Billion | +1.17% |
| 2001-06-30 | AU$1.06 Billion | +14.83% |
| 2000-06-30 | AU$921.81 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Dexus Property Group'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 299590000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$3.00 Billion | 29.47% |
| Common Stock | AU$7.16 Billion | 70.39% |
| Other Comprehensive Income | AU$34.50 Million | 0.34% |
| Total Equity | AU$10.16 Billion | 100.00% |
Dexus Property Group Competitors by Market Cap
The table below lists competitors of Dexus Property Group ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Portland General Electric Co
NYSE:POR
|
$4.37 Billion |
|
Varonis Systems Inc
F:VS2
|
$4.37 Billion |
|
Meritage Corporation
NYSE:MTH
|
$4.38 Billion |
|
Nan Ya Plastics Corp
TW:1303
|
$4.39 Billion |
|
Bendigo and Adelaide Bank Ltd
AU:BEN
|
$4.37 Billion |
|
Ningbo Tuopu Group Co Ltd
SHG:601689
|
$4.37 Billion |
|
Kurita Water Industries Ltd
OTCGREY:KTWIY
|
$4.37 Billion |
|
KITE REALTY GRP SBI DL-01
F:FGC1
|
$4.37 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Dexus Property Group's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 12,264,300,000 to 10,164,800,000, a change of -2,099,500,000 (-17.1%).
- Net loss of 1,578,900,000 reduced equity.
- Dividend payments of 540,900,000 reduced retained earnings.
- Share repurchases of 11,600,000 reduced equity.
- Other comprehensive income decreased equity by 21,400,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$-1.58 Billion | -15.53% |
| Dividends Paid | AU$540.90 Million | -5.32% |
| Share Repurchases | AU$11.60 Million | -0.11% |
| Other Comprehensive Income | AU$-21.40 Million | -0.21% |
| Other Changes | AU$53.30 Million | +0.52% |
| Total Change | AU$ -2.10 Billion | -17.12% |
Book Value vs Market Value Analysis
This analysis compares Dexus Property Group's book value (net assets per share) with its market price over time, revealing how the market values the company relative to its accounting value.
Valuation Insights
- Current price-to-book ratio: 0.73x
- 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 1.76x to 0.73x over the analyzed period, indicating reduced market premium.
Price-to-Book Ratio History
| Year | Book Value Per Share | Market Price | Price-to-Book Ratio |
|---|---|---|---|
| 2004 | AU$3.92 | AU$6.88 | 1.76x |
| 2005 | AU$4.39 | AU$6.88 | 1.57x |
| 2006 | AU$8.84 | AU$6.88 | 0.78x |
| 2007 | AU$10.54 | AU$6.88 | 0.65x |
| 2008 | AU$10.86 | AU$6.88 | 0.63x |
| 2009 | AU$8.00 | AU$6.88 | 0.86x |
| 2010 | AU$6.03 | AU$6.88 | 1.14x |
| 2011 | AU$6.33 | AU$6.88 | 1.09x |
| 2012 | AU$6.21 | AU$6.88 | 1.11x |
| 2013 | AU$6.44 | AU$6.88 | 1.07x |
| 2014 | AU$7.38 | AU$6.88 | 0.93x |
| 2015 | AU$7.40 | AU$6.88 | 0.93x |
| 2016 | AU$7.77 | AU$6.88 | 0.89x |
| 2017 | AU$9.11 | AU$6.88 | 0.76x |
| 2018 | AU$9.88 | AU$6.88 | 0.70x |
| 2019 | AU$11.33 | AU$6.88 | 0.61x |
| 2020 | AU$10.75 | AU$6.88 | 0.64x |
| 2021 | AU$11.24 | AU$6.88 | 0.61x |
| 2022 | AU$12.29 | AU$6.88 | 0.56x |
| 2023 | AU$11.40 | AU$6.88 | 0.60x |
| 2024 | AU$9.45 | AU$6.88 | 0.73x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Dexus Property Group utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -15.53%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -179.24%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.56x
- Recent ROE (-15.53%) is below the historical average (6.59%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 7.61% | 61.20% | 0.11x | 1.18x | AU$-22.03 Million |
| 2001 | 7.44% | 51.52% | 0.11x | 1.26x | AU$-27.09 Million |
| 2002 | 7.93% | 58.60% | 0.10x | 1.32x | AU$-22.20 Million |
| 2003 | 7.73% | 54.85% | 0.10x | 1.41x | AU$-25.78 Million |
| 2004 | 2.88% | 52.54% | 0.03x | 2.05x | AU$-224.97 Million |
| 2005 | -0.33% | -2.34% | 0.07x | 1.98x | AU$-365.26 Million |
| 2006 | 23.56% | 153.14% | 0.08x | 1.93x | AU$581.58 Million |
| 2007 | 22.19% | 168.56% | 0.07x | 1.80x | AU$642.14 Million |
| 2008 | 7.79% | 65.92% | 0.07x | 1.66x | AU$-124.63 Million |
| 2009 | -29.54% | -205.94% | 0.08x | 1.69x | AU$-1.95 Billion |
| 2010 | 0.65% | 4.65% | 0.09x | 1.64x | AU$-448.70 Million |
| 2011 | 10.84% | 87.91% | 0.08x | 1.57x | AU$42.73 Million |
| 2012 | 3.62% | 27.70% | 0.09x | 1.47x | AU$-319.66 Million |
| 2013 | 9.91% | 94.13% | 0.07x | 1.49x | AU$-4.67 Million |
| 2014 | 6.72% | 53.63% | 0.08x | 1.61x | AU$-198.73 Million |
| 2015 | 9.13% | 55.69% | 0.11x | 1.48x | AU$-59.03 Million |
| 2016 | 16.75% | 90.50% | 0.12x | 1.57x | AU$507.49 Million |
| 2017 | 14.33% | 91.91% | 0.11x | 1.39x | AU$381.75 Million |
| 2018 | 17.21% | 125.41% | 0.10x | 1.40x | AU$724.16 Million |
| 2019 | 10.91% | 96.23% | 0.08x | 1.41x | AU$106.67 Million |
| 2020 | 8.14% | 98.89% | 0.06x | 1.46x | AU$-225.12 Million |
| 2021 | 9.10% | 111.87% | 0.06x | 1.45x | AU$-112.50 Million |
| 2022 | 11.91% | 187.22% | 0.04x | 1.42x | AU$259.18 Million |
| 2023 | -6.14% | -85.77% | 0.05x | 1.51x | AU$-1.98 Billion |
| 2024 | -15.53% | -179.24% | 0.06x | 1.56x | AU$-2.60 Billion |
Industry Comparison
This section compares Dexus Property Group's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $1,391,576,000
- Average return on equity (ROE) among peers: -3.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Dexus Property Group (DXS) | AU$9.98 Billion | 7.61% | 0.56x | $4.37 Billion |
| Australian Unity Office Fund (AOF) | $171.45 Million | 5.08% | 1.13x | $16.17 Million |
| Growthpoint Properties Australia (GOZ) | $2.61 Billion | -11.42% | 0.82x | $407.63 Million |