State GAS Ltd (GAS) - Net Assets

Latest as of June 2025: AU$42.66 Million AUD ≈ $30.18 Million USD

Based on the latest financial reports, State GAS Ltd (GAS) has net assets worth AU$42.66 Million AUD (≈ $30.18 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$51.21 Million ≈ $36.24 Million USD) and total liabilities (AU$8.55 Million ≈ $6.05 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. Read GAS current and long-term liabilities for a breakdown of total debt and financial obligations.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$42.66 Million
% of Total Assets	83.3%
Annual Growth Rate	-8.19%
5-Year Change	69.41%
10-Year Change	-79.4%
Growth Volatility	49.43

State GAS Ltd - Net Assets Trend (2003–2025)

This chart illustrates how State GAS Ltd's net assets have evolved over time, based on quarterly financial data. Also explore State GAS Ltd total assets for the complete picture of this company's asset base.

Annual Net Assets for State GAS Ltd (2003–2025)

The table below shows the annual net assets of State GAS Ltd from 2003 to 2025. For live valuation and market cap data, see State GAS Ltd market capitalisation.

Year	Net Assets	Change
2025-06-30	AU$42.66 Million ≈ $30.18 Million	+5.82%
2024-06-30	AU$40.32 Million ≈ $28.53 Million	+10.13%
2023-06-30	AU$36.61 Million ≈ $25.90 Million	+16.97%
2022-06-30	AU$31.30 Million ≈ $22.15 Million	+24.29%
2021-06-30	AU$25.18 Million ≈ $17.82 Million	+115.59%
2020-06-30	AU$11.68 Million ≈ $8.26 Million	+3.05%
2019-06-30	AU$11.33 Million ≈ $8.02 Million	+77.46%
2018-06-30	AU$6.39 Million ≈ $4.52 Million	-6.59%
2017-06-30	AU$6.84 Million ≈ $4.84 Million	-96.70%
2006-06-30	AU$207.12 Million ≈ $146.55 Million	-0.80%
2005-06-30	AU$208.79 Million ≈ $147.73 Million	-28.80%
2004-06-30	AU$293.25 Million ≈ $207.49 Million	+4.99%
2003-06-30	AU$279.30 Million ≈ $197.62 Million	--

Equity Component Analysis

This analysis shows how different components contribute to State GAS 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 156.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (June 2025)

Component	Amount	Percentage
Common Stock	AU$55.49 Million	130.08%
Other Comprehensive Income	AU$3.12 Million	7.32%
Total Equity	AU$42.66 Million	100.00%

State GAS Ltd Competitors by Market Cap

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

Company	Market Cap
Companhia Paranaense de Energia Pref ADR NYSE:ELP	$7.25 Million
DGA Spólka Akcyjna WAR:DGA	$7.25 Million
NB Private Equity Partners Ltd LSE:NBPE	$7.25 Million
Crown Energy AB (publ) F:CWE	$7.26 Million
ARK Resources Bhd KLSE:7007	$7.25 Million
Socket Mobile Inc NASDAQ:SCKT	$7.24 Million
WH Smith PLC LSE:SMWH	$7.24 Million
Schroders Investment Trusts - Schroder Asian Total Return Investment Company plc LSE:ATR	$7.24 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 40,315,592 to 42,660,183, a change of 2,344,591 (5.8%).
Net loss of 3,284,236 reduced equity.
Share repurchases of 4,372,740 reduced equity.
Other comprehensive income increased equity by 145,068.
Other factors increased equity by 9,856,499.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	AU$-3.28 Million	-7.7%
Share Repurchases	AU$4.37 Million	-10.25%
Other Comprehensive Income	AU$145.07K	+0.34%
Other Changes	AU$9.86 Million	+23.1%
Total Change	AU$-	5.82%

Book Value vs Market Value Analysis

This analysis compares State GAS 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: 0.22x
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 increased from 0.00x to 0.22x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2003-06-30	AU$9.53	AU$0.03	x
2004-06-30	AU$10.01	AU$0.03	x
2005-06-30	AU$7.13	AU$0.03	x
2006-06-30	AU$7.07	AU$0.03	x
2017-06-30	AU$0.23	AU$0.03	x
2018-06-30	AU$0.05	AU$0.03	x
2019-06-30	AU$0.08	AU$0.03	x
2020-06-30	AU$0.08	AU$0.03	x
2021-06-30	AU$0.15	AU$0.03	x
2022-06-30	AU$0.16	AU$0.03	x
2023-06-30	AU$0.17	AU$0.03	x
2024-06-30	AU$0.15	AU$0.03	x
2025-06-30	AU$0.12	AU$0.03	x

Capital Efficiency Dashboard

This dashboard shows how efficiently State GAS 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): -7.70%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -2933.35%
• Asset Turnover: 0.00x
• Equity Multiplier: 1.20x
Recent ROE (-7.70%) is below the historical average (-4.20%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2003	9.45%	24.76%	0.12x	3.11x	AU$-1.55 Million
2004	7.55%	22.24%	0.10x	3.30x	AU$-7.19 Million
2005	7.48%	15.15%	0.11x	4.61x	AU$-5.26 Million
2006	7.29%	14.10%	0.11x	4.66x	AU$-5.62 Million
2017	-0.11%	-3563.81%	0.00x	1.07x	AU$-691.24K
2018	-10.99%	-2111913.36%	0.00x	1.13x	AU$-1.34 Million
2019	-17.50%	-2994.20%	0.01x	1.10x	AU$-3.12 Million
2020	-30.42%	-4202.74%	0.01x	1.10x	AU$-4.72 Million
2021	-11.70%	-2022.09%	0.00x	1.17x	AU$-5.47 Million
2022	4.29%	362702.70%	0.00x	1.08x	AU$-1.79 Million
2023	-3.25%	-2614.44%	0.00x	1.12x	AU$-4.85 Million
2024	-9.01%	-20855.83%	0.00x	1.20x	AU$-7.66 Million
2025	-7.70%	-2933.35%	0.00x	1.20x	AU$-7.55 Million

Industry Comparison

This section compares State GAS Ltd's net assets metrics with peer companies in the Oil & Gas E&P industry.

Industry Context

Industry: Oil & Gas E&P
Average net assets among peers: $32,358,340
Average return on equity (ROE) among peers: -59.68%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
State GAS Ltd (GAS)	AU$42.66 Million	9.45%	0.20x	$7.25 Million
88 Energy Ltd (88E)	$16.65 Million	-41.39%	0.05x	$18.83 Million
ADX Energy Ltd (ADX)	$8.69 Million	-49.24%	2.54x	$19.62 Million
Australis Oil & Gas Ltd (ATS)	$97.38 Million	2.91%	0.37x	$20.63 Million
Bass Oil Ltd (BAS)	$1.04 Million	-288.37%	0.09x	$13.11 Million
Blue Energy Ltd (BLU)	$10.73 Million	11.18%	0.26x	$12.79 Million
Blue Star Helium Ltd (BNL)	$13.63 Million	-4.72%	0.03x	$21.78 Million
Beach Energy Ltd (BPT)	$19.18 Million	-11.01%	0.43x	$1.87 Billion
Brookside Energy Ltd (BRK)	$92.01 Million	2.97%	0.24x	$38.18 Million
Buru Energy Ltd (BRU)	$38.60 Million	-74.66%	0.35x	$9.93 Million
Beetaloo Energy Australia Limited (BTL)	$25.66 Million	-144.49%	2.98x	$260.37 Million

About State GAS Ltd

AU:GAS Australia Oil & Gas E&P

Market Cap

$7.25 Million

AU$10.24 Million AUD

Market Cap Rank

#27591 Global

#1441 in Australia

Share Price

AU$0.03

Change (1 day)

-3.70%

52-Week Range

AU$0.02 - AU$0.05

All Time High

AU$0.99