Pengana International Equities Ltd (PIA) - Net Assets

Latest as of June 2025: AU$352.80 Million AUD ≈ $249.63 Million USD

Based on the latest financial reports, Pengana International Equities Ltd (PIA) has net assets worth AU$352.80 Million AUD (≈ $249.63 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$365.93 Million ≈ $258.92 Million USD) and total liabilities (AU$13.13 Million ≈ $9.29 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 PIA asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$352.80 Million
% of Total Assets	96.41%
Annual Growth Rate	1.53%
5-Year Change	-2.49%
10-Year Change	7.48%
Growth Volatility	24.02

Pengana International Equities Ltd - Net Assets Trend (2006–2025)

This chart illustrates how Pengana International Equities Ltd's net assets have evolved over time, based on quarterly financial data. Also explore PIA current and non-current assets for the complete picture of this company's asset base.

Annual Net Assets for Pengana International Equities Ltd (2006–2025)

The table below shows the annual net assets of Pengana International Equities Ltd from 2006 to 2025. For live valuation and market cap data, see PIA stock market capitalisation.

Year	Net Assets	Change
2025-06-30	AU$352.80 Million ≈ $249.63 Million	+5.97%
2024-06-30	AU$332.94 Million ≈ $235.57 Million	+6.42%
2023-06-30	AU$312.85 Million ≈ $221.36 Million	+8.81%
2022-06-30	AU$287.53 Million ≈ $203.45 Million	-20.53%
2021-06-30	AU$361.80 Million ≈ $256.00 Million	+14.31%
2020-06-30	AU$316.51 Million ≈ $223.95 Million	+2.91%
2019-06-30	AU$307.57 Million ≈ $217.62 Million	+2.24%
2018-06-30	AU$300.84 Million ≈ $212.86 Million	+3.76%
2017-06-30	AU$289.94 Million ≈ $205.15 Million	-11.67%
2016-06-30	AU$328.26 Million ≈ $232.26 Million	+1.87%
2015-06-30	AU$322.23 Million ≈ $228.00 Million	+45.69%
2014-06-30	AU$221.18 Million ≈ $156.50 Million	+9.54%
2013-06-30	AU$201.92 Million ≈ $142.87 Million	+2.63%
2012-06-30	AU$196.76 Million ≈ $139.22 Million	-23.16%
2011-06-30	AU$256.07 Million ≈ $181.18 Million	-4.67%
2010-06-30	AU$268.62 Million ≈ $190.07 Million	+0.65%
2009-06-30	AU$266.89 Million ≈ $188.84 Million	-25.97%
2008-06-30	AU$360.53 Million ≈ $255.10 Million	-24.05%
2007-06-30	AU$474.71 Million ≈ $335.89 Million	+79.42%
2006-06-30	AU$264.58 Million ≈ $187.21 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Pengana International Equities 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 482.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (June 2025)

Component	Amount	Percentage
Common Stock	AU$319.54 Million	90.57%
Other Comprehensive Income	AU$227.96 Million	64.61%
Total Equity	AU$352.80 Million	100.00%

Pengana International Equities Ltd Competitors by Market Cap

The table below lists competitors of Pengana International Equities Ltd ranked by their market capitalization.

Company	Market Cap
Zwack Unicum Likoripari es Kereskedelmi Nyrt. BUD:ZWACK	$224.17 Million
Taigen Biopharmaceuticals Holdings Ltd TWO:4157	$224.27 Million
Kimteks Poliuretan Sanayi ve Ticaret AS IS:KMPUR	$224.33 Million
Deutsche Real Estate AG F:DRE2	$224.35 Million
SHIPPING CORPORATION OF INDIA LAND NSE:SCILAL	$224.01 Million
Adgar Investments and Development Ltd TA:ADGR	$223.98 Million
Fourlis Holdings S.A. AT:FOYRK	$223.95 Million
Ayen Enerji AS IS:AYEN	$223.87 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 332,935,000 to 352,799,000, a change of 19,864,000 (6.0%).
Net income of 33,761,000 contributed positively to equity growth.
Dividend payments of 12,435,000 reduced retained earnings.
Share repurchases of 1,462,000 reduced equity.
Other comprehensive income increased equity by 19,876,000.
Other factors decreased equity by 19,876,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	AU$33.76 Million	+9.57%
Dividends Paid	AU$12.44 Million	-3.52%
Share Repurchases	AU$1.46 Million	-0.41%
Other Comprehensive Income	AU$19.88 Million	+5.63%
Other Changes	AU$-19.88 Million	-5.63%
Total Change	AU$-	5.97%

Book Value vs Market Value Analysis

This analysis compares Pengana International Equities 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: 0.90x
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 1.32x to 0.90x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2006-06-30	AU$0.93	AU$1.23	x
2007-06-30	AU$1.68	AU$1.23	x
2008-06-30	AU$1.26	AU$1.23	x
2009-06-30	AU$0.93	AU$1.23	x
2010-06-30	AU$0.94	AU$1.23	x
2011-06-30	AU$0.90	AU$1.23	x
2012-06-30	AU$0.69	AU$1.23	x
2013-06-30	AU$1.02	AU$1.23	x
2014-06-30	AU$1.18	AU$1.23	x
2015-06-30	AU$1.14	AU$1.23	x
2016-06-30	AU$1.16	AU$1.23	x
2017-06-30	AU$1.02	AU$1.23	x
2018-06-30	AU$1.06	AU$1.23	x
2019-06-30	AU$1.09	AU$1.23	x
2020-06-30	AU$1.12	AU$1.23	x
2021-06-30	AU$1.28	AU$1.23	x
2022-06-30	AU$1.02	AU$1.23	x
2023-06-30	AU$1.10	AU$1.23	x
2024-06-30	AU$1.30	AU$1.23	x
2025-06-30	AU$1.37	AU$1.23	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Pengana International Equities 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): 9.57%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 68.38%
• Asset Turnover: 0.13x
• Equity Multiplier: 1.04x
Recent ROE (9.57%) is above the historical average (4.27%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2006	16.70%	65.84%	0.23x	1.11x	AU$17.71 Million
2007	12.21%	60.70%	0.18x	1.10x	AU$10.48 Million
2008	-15.99%	0.00%	-0.21x	1.01x	AU$-93.70 Million
2009	-21.74%	0.00%	-0.27x	1.00x	AU$-84.71 Million
2010	9.26%	53.24%	0.17x	1.01x	AU$-2.00 Million
2011	4.46%	42.49%	0.10x	1.01x	AU$-14.19 Million
2012	-22.16%	0.00%	-0.07x	1.01x	AU$-63.27 Million
2013	19.14%	91.75%	0.20x	1.03x	AU$18.46 Million
2014	18.00%	91.57%	0.20x	1.00x	AU$17.70 Million
2015	15.88%	72.26%	0.20x	1.07x	AU$18.96 Million
2016	9.29%	63.18%	0.14x	1.08x	AU$-2.34 Million
2017	-7.89%	0.00%	-0.09x	1.00x	AU$-51.87 Million
2018	8.18%	64.74%	0.12x	1.04x	AU$-5.48 Million
2019	5.43%	63.53%	0.08x	1.02x	AU$-14.05 Million
2020	7.62%	61.91%	0.12x	1.03x	AU$-7.52 Million
2021	16.58%	66.27%	0.24x	1.05x	AU$23.81 Million
2022	-21.44%	-1259.21%	0.02x	1.00x	AU$-90.40 Million
2023	12.26%	0.00%	-0.08x	1.03x	AU$7.07 Million
2024	10.10%	63.02%	0.15x	1.06x	AU$331.50K
2025	9.57%	68.38%	0.13x	1.04x	AU$-1.52 Million

Industry Comparison

This section compares Pengana International Equities Ltd's net assets metrics with peer companies in the Asset Management industry.

Industry Context

Industry: Asset Management
Average net assets among peers: $616,002,448
Average return on equity (ROE) among peers: 2.70%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Pengana International Equities Ltd (PIA)	AU$352.80 Million	16.70%	0.04x	$224.15 Million
Acorn Capital Investment Fund Ltd (ACQ)	$66.61 Million	17.87%	0.11x	$57.22 Million
Australian Ethical Investment Ltd (AEF)	$26.75 Million	24.58%	0.77x	$314.92 Million
Australian Foundation Investment Company Ltd (AFI)	$2.01 Billion	5.14%	0.13x	$5.89 Billion
Alternative Investment Trust (AIQ)	$0.00	0.00%	0.00x	$33.32 Million
Argo Global Listed Infrastructure Ltd (ALI)	$320.48 Million	-2.91%	0.03x	$298.12 Million
Amcil Ltd (AMH)	$3.45 Billion	-1.39%	0.80x	$206.63 Million
Associate Global Partners Ltd (APL)	$-15.33 Million	0.00%	0.00x	$11.51 Million
Ariadne Australia Ltd (ARA)	$59.71 Million	8.64%	0.74x	$66.00 Million
ARC Funds Ltd (ARC)	$5.68 Million	-37.27%	0.47x	$3.65 Million
Argo Investments Ltd (ARG)	$236.53 Million	12.30%	0.07x	$4.70 Billion

About Pengana International Equities Ltd

AU:PIA Australia Asset Management

Market Cap

$224.15 Million

AU$316.79 Million AUD

Market Cap Rank

#16103 Global

#457 in Australia

Share Price

AU$1.23

Change (1 day)

+0.82%

52-Week Range

AU$1.16 - AU$1.32

All Time High

AU$1.32