Future Generation Australia Ltd (FGX) - Net Assets
Based on the latest financial reports, Future Generation Australia Ltd (FGX) has net assets worth AU$573.70 Million AUD (≈ $405.93 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$611.87 Million ≈ $432.94 Million USD) and total liabilities (AU$38.17 Million ≈ $27.01 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 Future Generation Australia Ltd (FGX) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$573.70 Million |
| % of Total Assets | 93.76% |
| Annual Growth Rate | 4.29% |
| 5-Year Change | 0.6% |
| 10-Year Change | 43.78% |
| Growth Volatility | 1112.97 |
Future Generation Australia Ltd - Net Assets Trend (1996–2025)
This chart illustrates how Future Generation Australia Ltd's net assets have evolved over time, based on quarterly financial data. Also explore FGX current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Future Generation Australia Ltd (1996–2025)
The table below shows the annual net assets of Future Generation Australia Ltd from 1996 to 2025. For live valuation and market cap data, see Future Generation Australia Ltd market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | AU$573.70 Million ≈ $405.93 Million |
+4.77% |
| 2024-12-31 | AU$547.59 Million ≈ $387.45 Million |
+4.27% |
| 2023-12-31 | AU$525.18 Million ≈ $371.60 Million |
+4.24% |
| 2022-12-31 | AU$503.80 Million ≈ $356.47 Million |
-11.66% |
| 2021-12-31 | AU$570.26 Million ≈ $403.50 Million |
+11.92% |
| 2020-12-31 | AU$509.53 Million ≈ $360.52 Million |
+3.01% |
| 2019-12-31 | AU$494.63 Million ≈ $349.98 Million |
+10.46% |
| 2018-12-31 | AU$447.77 Million ≈ $316.83 Million |
+5.62% |
| 2017-12-31 | AU$423.93 Million ≈ $299.96 Million |
+6.24% |
| 2016-12-31 | AU$399.02 Million ≈ $282.33 Million |
+48.52% |
| 2015-12-31 | AU$268.66 Million ≈ $190.09 Million |
+31.29% |
| 2014-12-31 | AU$204.62 Million ≈ $144.78 Million |
+6104.49% |
| 2013-12-31 | AU$3.30 Million ≈ $2.33 Million |
-97.41% |
| 2012-12-31 | AU$127.50 Million ≈ $90.21 Million |
-93.17% |
| 2011-12-31 | AU$1.87 Billion ≈ $1.32 Billion |
+5.38% |
| 2010-12-31 | AU$1.77 Billion ≈ $1.25 Billion |
+9.26% |
| 2009-12-31 | AU$1.62 Billion ≈ $1.15 Billion |
+34.23% |
| 2008-12-31 | AU$1.21 Billion ≈ $854.77 Million |
+4.98% |
| 2007-12-31 | AU$1.15 Billion ≈ $814.24 Million |
+16.42% |
| 2006-12-31 | AU$988.48 Million ≈ $699.41 Million |
+14.82% |
| 2005-12-31 | AU$860.89 Million ≈ $609.13 Million |
+5.45% |
| 2004-12-31 | AU$816.38 Million ≈ $577.64 Million |
+86.29% |
| 2003-12-31 | AU$438.23 Million ≈ $310.08 Million |
+24.98% |
| 2002-12-31 | AU$350.64 Million ≈ $248.10 Million |
+9.07% |
| 2001-12-31 | AU$321.48 Million ≈ $227.46 Million |
+6.32% |
| 2000-12-31 | AU$302.37 Million ≈ $213.94 Million |
-6.47% |
| 1999-12-31 | AU$323.30 Million ≈ $228.76 Million |
+7.63% |
| 1998-12-31 | AU$300.37 Million ≈ $212.53 Million |
+67.69% |
| 1997-12-31 | AU$179.12 Million ≈ $126.74 Million |
+5.63% |
| 1996-12-31 | AU$169.57 Million ≈ $119.98 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Future Generation Australia 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 4825.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$454.35 Million | 79.20% |
| Other Comprehensive Income | AU$180.39 Million | 31.44% |
| Total Equity | AU$573.70 Million | 100.00% |
Future Generation Australia Ltd Competitors by Market Cap
The table below lists competitors of Future Generation Australia Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
VTEX
NYSE:VTEX
|
$380.90 Million |
|
Altshuler Shaham Financial LTD
TA:ALTF
|
$381.01 Million |
|
Puma Biotechnology Inc
NASDAQ:PBYI
|
$381.06 Million |
|
Nexxen International Ltd
NASDAQ:NEXN
|
$381.13 Million |
|
Komipharm International Co. Ltd
KQ:041960
|
$380.81 Million |
|
Hyundai Motor S3 Pref
KO:005389
|
$380.79 Million |
|
Berjaya Corporation Bhd
KLSE:3395
|
$380.71 Million |
|
Rajesh Exports Limited
NSE:RAJESHEXPO
|
$380.62 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Future Generation Australia Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 547,589,000 to 573,695,000, a change of 26,106,000 (4.8%).
- Net income of 52,895,000 contributed positively to equity growth.
- Dividend payments of 26,789,000 reduced retained earnings.
- Other comprehensive income increased equity by 25,282,000.
- Other factors decreased equity by 25,282,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$52.90 Million | +9.22% |
| Dividends Paid | AU$26.79 Million | -4.67% |
| Other Comprehensive Income | AU$25.28 Million | +4.41% |
| Other Changes | AU$-25.28 Million | -4.41% |
| Total Change | AU$- | 4.77% |
Book Value vs Market Value Analysis
This analysis compares Future Generation Australia 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: 0.94x
- 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 3.14x to 0.94x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | AU$0.42 | AU$1.31 | x |
| 1997-12-31 | AU$0.44 | AU$1.31 | x |
| 1998-12-31 | AU$0.74 | AU$1.31 | x |
| 1999-12-31 | AU$0.80 | AU$1.31 | x |
| 2000-12-31 | AU$0.74 | AU$1.31 | x |
| 2001-12-31 | AU$0.79 | AU$1.31 | x |
| 2002-12-31 | AU$0.86 | AU$1.31 | x |
| 2003-12-31 | AU$1.08 | AU$1.31 | x |
| 2004-12-31 | AU$1.95 | AU$1.31 | x |
| 2005-12-31 | AU$2.12 | AU$1.31 | x |
| 2006-12-31 | AU$2.43 | AU$1.31 | x |
| 2007-12-31 | AU$2.83 | AU$1.31 | x |
| 2008-12-31 | AU$2.97 | AU$1.31 | x |
| 2009-12-31 | AU$3.99 | AU$1.31 | x |
| 2010-12-31 | AU$4.36 | AU$1.31 | x |
| 2011-12-31 | AU$4.60 | AU$1.31 | x |
| 2012-12-31 | AU$0.00 | AU$1.31 | x |
| 2013-12-31 | AU$0.01 | AU$1.31 | x |
| 2014-12-31 | AU$0.50 | AU$1.31 | x |
| 2015-12-31 | AU$0.65 | AU$1.31 | x |
| 2016-12-31 | AU$1.53 | AU$1.31 | x |
| 2017-12-31 | AU$1.04 | AU$1.31 | x |
| 2018-12-31 | AU$1.10 | AU$1.31 | x |
| 2019-12-31 | AU$1.22 | AU$1.31 | x |
| 2020-12-31 | AU$1.25 | AU$1.31 | x |
| 2021-12-31 | AU$1.40 | AU$1.31 | x |
| 2022-12-31 | AU$1.24 | AU$1.31 | x |
| 2023-12-31 | AU$1.29 | AU$1.31 | x |
| 2024-12-31 | AU$1.34 | AU$1.31 | x |
| 2025-12-31 | AU$1.40 | AU$1.31 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Future Generation Australia Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.22%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 67.62%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 1.07x
- Recent ROE (9.22%) is above the historical average (4.48%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | 3.46% | 0.00% | 0.00x | 1.03x | AU$-11.10 Million |
| 1997 | 9.65% | 0.00% | 0.00x | 1.29x | AU$-627.93K |
| 1998 | 10.59% | 0.00% | 0.00x | 1.32x | AU$1.78 Million |
| 1999 | 12.19% | 0.00% | -0.01x | 1.25x | AU$7.08 Million |
| 2000 | -4.17% | 0.00% | -0.02x | 1.31x | AU$-42.84 Million |
| 2001 | 1.26% | 97.71% | 0.01x | 1.13x | AU$-28.09 Million |
| 2002 | 8.64% | 90.77% | 0.09x | 1.04x | AU$-4.78 Million |
| 2003 | 8.52% | 84.28% | 0.10x | 1.04x | AU$-6.50 Million |
| 2004 | 13.61% | 90.93% | 0.14x | 1.07x | AU$28.49 Million |
| 2005 | 12.72% | 84.38% | 0.14x | 1.06x | AU$23.43 Million |
| 2006 | 2.19% | 11.73% | 0.18x | 1.06x | AU$-77.16 Million |
| 2007 | 7.16% | 34.80% | 0.17x | 1.18x | AU$-32.74 Million |
| 2008 | 8.33% | 96.60% | 0.07x | 1.17x | AU$-20.22 Million |
| 2009 | 11.79% | 90.79% | 0.13x | 1.04x | AU$29.10 Million |
| 2010 | 11.98% | 89.71% | 0.13x | 1.04x | AU$35.15 Million |
| 2011 | 10.50% | 91.37% | 0.11x | 1.06x | AU$9.27 Million |
| 2012 | 132.02% | 75.30% | 1.74x | 1.01x | AU$155.57 Million |
| 2013 | -189.84% | -16476.32% | 0.01x | 1.10x | AU$-6.59 Million |
| 2014 | 5.56% | 67.73% | 0.08x | 1.02x | AU$-9.09 Million |
| 2015 | 5.55% | 72.64% | 0.07x | 1.02x | AU$-11.73 Million |
| 2016 | 3.05% | 83.47% | 0.04x | 1.01x | AU$-27.63 Million |
| 2017 | 5.25% | 70.60% | 0.07x | 1.03x | AU$-20.14 Million |
| 2018 | 5.19% | 64.00% | 0.08x | 1.01x | AU$-21.56 Million |
| 2019 | 4.54% | 72.81% | 0.06x | 1.03x | AU$-27.03 Million |
| 2020 | 2.82% | 70.34% | 0.04x | 1.05x | AU$-36.60 Million |
| 2021 | 14.01% | 68.87% | 0.19x | 1.08x | AU$22.85 Million |
| 2022 | -8.71% | 0.00% | -0.12x | 1.03x | AU$-94.27 Million |
| 2023 | 8.73% | 77.13% | 0.11x | 1.04x | AU$-6.68 Million |
| 2024 | 8.75% | 75.97% | 0.11x | 1.05x | AU$-6.83 Million |
| 2025 | 9.22% | 67.62% | 0.13x | 1.07x | AU$-4.47 Million |
Industry Comparison
This section compares Future Generation Australia Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,017,205,964
- Average return on equity (ROE) among peers: -1.91%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Future Generation Australia Ltd (FGX) | AU$573.70 Million | 3.46% | 0.07x | $380.90 Million |
| Acorn Capital Investment Fund Ltd (ACQ) | $62.59 Million | -0.91% | 0.05x | $57.22 Million |
| Australian Ethical Investment Ltd (AEF) | $26.75 Million | 24.58% | 0.77x | $314.92 Million |
| Australian Foundation Investment Company Ltd (AFI) | $4.23 Billion | 5.51% | 0.16x | $5.89 Billion |
| Alternative Investment Trust (AIQ) | $0.00 | 0.00% | 0.00x | $33.32 Million |
| Argo Global Listed Infrastructure Ltd (ALI) | $400.44 Million | 7.46% | 0.05x | $298.12 Million |
| Amcil Ltd (AMH) | $71.58 Million | 4.66% | 0.03x | $206.63 Million |
| Associate Global Partners Ltd (APL) | $7.08 Million | -28.03% | 0.85x | $11.51 Million |
| Ariadne Australia Ltd (ARA) | $92.52 Million | 11.93% | 0.05x | $66.00 Million |
| ARC Funds Ltd (ARC) | $4.97 Million | -49.83% | 0.01x | $3.65 Million |
| Argo Investments Ltd (ARG) | $5.27 Billion | 5.55% | 0.15x | $4.70 Billion |
About Future Generation Australia Ltd
Future Generation Investment Fund Limited is a closed ended fund of fund launched and managed by Wilson Asset Management (International) Pty Limited. The fund is co-managed by Bennelong Long Short Equity Management Pty Limited, Cooper Investors Pty Limited,Bennelong Australian Equity Partners Pty Ltd,Discovery Asset Management Pty Ltd,Eley Griffiths Group Pty Limited, Eley Griffiths Group Pty Lim… Read more