Hearts and Minds Investments Ltd (HM1) - Net Assets
Based on the latest financial reports, Hearts and Minds Investments Ltd (HM1) has net assets worth AU$773.89 Million AUD (≈ $547.58 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$848.00 Million ≈ $600.01 Million USD) and total liabilities (AU$74.11 Million ≈ $52.43 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 Hearts and Minds Investments Ltd (HM1) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$773.89 Million |
| % of Total Assets | 91.26% |
| Annual Growth Rate | 5.61% |
| 5-Year Change | 20.71% |
| 10-Year Change | N/A |
| Growth Volatility | 15.59 |
Hearts and Minds Investments Ltd - Net Assets Trend (2018–2026)
This chart illustrates how Hearts and Minds Investments Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Hearts and Minds Investments Ltd (HM1) market capitalisation.
Annual Net Assets for Hearts and Minds Investments Ltd (2018–2026)
The table below shows the annual net assets of Hearts and Minds Investments Ltd from 2018 to 2026. Also explore how fast is Hearts and Minds Investments Ltd growing its equity to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-06-30 | AU$773.89 Million ≈ $547.58 Million |
-1.63% |
| 2025-06-30 | AU$786.70 Million ≈ $556.64 Million |
+12.80% |
| 2024-06-30 | AU$697.41 Million ≈ $493.46 Million |
+3.24% |
| 2023-06-30 | AU$675.52 Million ≈ $477.98 Million |
+5.36% |
| 2022-06-30 | AU$641.13 Million ≈ $453.64 Million |
-27.64% |
| 2021-06-30 | AU$886.00 Million ≈ $626.90 Million |
+18.05% |
| 2020-06-30 | AU$750.51 Million ≈ $531.03 Million |
+25.25% |
| 2019-06-30 | AU$599.19 Million ≈ $423.97 Million |
+19.84% |
| 2018-06-30 | AU$500.00 Million ≈ $353.78 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Hearts and Minds Investments 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 20113044400.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$201.13 Million | 25.99% |
| Common Stock | AU$574.94 Million | 74.29% |
| Other Comprehensive Income | AU$-2.18 Million | -0.28% |
| Total Equity | AU$773.89 Million | 100.00% |
Hearts and Minds Investments Ltd Competitors by Market Cap
The table below lists competitors of Hearts and Minds Investments Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Soft-World International
TWO:5478
|
$460.24 Million |
|
Chung Hwa Pulp Corp
TW:1905
|
$460.38 Million |
|
Hangzhou Electn Soul Network
SHG:603258
|
$460.40 Million |
|
YeaShin International Development Co Ltd
TWO:5213
|
$460.43 Million |
|
Beijing Leadman Biochemistry Co Ltd
SHE:300289
|
$460.12 Million |
|
Automotive Properties Real Estate Investment Trust
TO:APR-UN
|
$460.08 Million |
|
DINGDONG CAYMAN 2ADR/3 A
F:945
|
$459.79 Million |
|
Dongguan Chitwing Technology Co Ltd
SHE:002855
|
$459.75 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hearts and Minds Investments Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 786,699,289 to 773,890,492, a change of -12,808,797 (-1.6%).
- Net income of 46,373,555 contributed positively to equity growth.
- Dividend payments of 42,362,299 reduced retained earnings.
- Other comprehensive income decreased equity by 148,159,159.
- Other factors increased equity by 131,339,106.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$46.37 Million | +5.99% |
| Dividends Paid | AU$42.36 Million | -5.47% |
| Other Comprehensive Income | AU$-148.16 Million | -19.14% |
| Other Changes | AU$131.34 Million | +16.97% |
| Total Change | AU$- | -1.63% |
Book Value vs Market Value Analysis
This analysis compares Hearts and Minds Investments 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: 0.84x
- 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 1.17x to 0.84x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-06-30 | AU$2.43 | AU$2.84 | x |
| 2019-06-30 | AU$3.56 | AU$2.84 | x |
| 2020-06-30 | AU$3.53 | AU$2.84 | x |
| 2021-06-30 | AU$3.93 | AU$2.84 | x |
| 2022-06-30 | AU$2.83 | AU$2.84 | x |
| 2023-06-30 | AU$2.96 | AU$2.84 | x |
| 2024-06-30 | AU$3.05 | AU$2.84 | x |
| 2025-06-30 | AU$3.44 | AU$2.84 | x |
| 2026-06-30 | AU$3.38 | AU$2.84 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hearts and Minds Investments Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.99%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 54.13%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 1.10x
- Recent ROE (5.99%) is above the historical average (1.88%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -0.16% | -20.08% | 0.01x | 1.05x | AU$-57.94 Million |
| 2020 | -0.36% | -56.51% | 0.01x | 1.11x | AU$-77.74 Million |
| 2021 | -1.41% | 0.00% | -0.01x | 1.11x | AU$-101.06 Million |
| 2022 | -14.79% | 0.00% | -0.19x | 1.01x | AU$-158.95 Million |
| 2023 | 4.84% | 56.85% | 0.08x | 1.01x | AU$-34.83 Million |
| 2024 | 7.30% | 60.35% | 0.12x | 1.05x | AU$-18.81 Million |
| 2025 | 13.58% | 64.68% | 0.19x | 1.09x | AU$28.15 Million |
| 2026 | 5.99% | 54.13% | 0.10x | 1.10x | AU$-31.02 Million |
Industry Comparison
This section compares Hearts and Minds Investments Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,085,788,674
- Average return on equity (ROE) among peers: -13.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hearts and Minds Investments Ltd (HM1) | AU$773.89 Million | -0.16% | 0.10x | $460.14 Million |
| Acorn Capital Investment Fund Ltd (ACQ) | $94.37 Million | 1.87% | 0.01x | $57.41 Million |
| Australian Ethical Investment Ltd (AEF) | $40.45 Million | 49.93% | 0.72x | $333.44 Million |
| Australian Foundation Investment Company Ltd (AFI) | $6.62 Billion | 6.13% | 0.18x | $5.74 Billion |
| Alternative Investment Trust (AIQ) | $13.98 Million | -25.05% | 0.01x | $33.44 Million |
| Argo Global Listed Infrastructure Ltd (ALI) | $301.56 Million | 5.39% | 0.03x | $329.25 Million |
| Amcil Ltd (AMH) | $247.55 Million | 2.41% | 0.09x | $199.18 Million |
| Associate Global Partners Ltd (APL) | $7.25 Million | -140.95% | 0.39x | $10.38 Million |
| Ariadne Australia Ltd (ARA) | $83.52 Million | 9.98% | 1.01x | $64.62 Million |
| ARC Funds Ltd (ARC) | $1.29 Million | -47.52% | 0.04x | $3.50 Million |
| Argo Investments Ltd (ARG) | $3.44 Billion | 5.00% | 0.11x | $4.93 Billion |
About Hearts and Minds Investments Ltd
Hearts and Minds Investments Ltd operates in various business sectors.