Qualitas Ltd (QAL) - Net Assets
Based on the latest financial reports, Qualitas Ltd (QAL) has net assets worth AU$384.80 Million AUD (≈ $272.27 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$473.34 Million ≈ $334.92 Million USD) and total liabilities (AU$88.55 Million ≈ $62.65 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 Qualitas Ltd (QAL) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$384.80 Million |
| % of Total Assets | 81.29% |
| Annual Growth Rate | 25.32% |
| 5-Year Change | 13.07% |
| 10-Year Change | N/A |
| Growth Volatility | 236.25 |
Qualitas Ltd - Net Assets Trend (2018–2025)
This chart illustrates how Qualitas Ltd's net assets have evolved over time, based on quarterly financial data. Also explore QAL total asset value for the complete picture of this company's asset base.
Annual Net Assets for Qualitas Ltd (2018–2025)
The table below shows the annual net assets of Qualitas Ltd from 2018 to 2025. For live valuation and market cap data, see QAL market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$380.37 Million ≈ $269.14 Million |
+3.64% |
| 2024-06-30 | AU$367.01 Million ≈ $259.68 Million |
+1.37% |
| 2023-06-30 | AU$362.06 Million ≈ $256.18 Million |
+2.11% |
| 2022-06-30 | AU$354.57 Million ≈ $250.88 Million |
+5.40% |
| 2021-06-30 | AU$336.42 Million ≈ $238.04 Million |
+668.18% |
| 2020-06-30 | AU$43.79 Million ≈ $30.99 Million |
-4.85% |
| 2019-06-30 | AU$46.02 Million ≈ $32.57 Million |
-41.25% |
| 2018-06-30 | AU$78.34 Million ≈ $55.43 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Qualitas 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 64.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$28.83 Million | 7.58% |
| Common Stock | AU$727.64 Million | 191.30% |
| Other Comprehensive Income | AU$-376.10 Million | -98.88% |
| Total Equity | AU$380.37 Million | 100.00% |
Qualitas Ltd Competitors by Market Cap
The table below lists competitors of Qualitas Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mativ Holdings Inc.
NYSE:MATV
|
$501.21 Million |
|
Sichuan Huiyuan Optical Com
SHE:000586
|
$501.31 Million |
|
Shanghai Information2 Software Inc. A
SHG:688435
|
$501.33 Million |
|
Protec Co. Ltd
KQ:053610
|
$501.35 Million |
|
Astral Foods Ltd.
JSE:ARL
|
$501.07 Million |
|
Moura Dubeux Engenharia S.A
SA:MDNE3
|
$501.05 Million |
|
Shanghai Lianming Machinery Co Ltd
SHG:603006
|
$500.78 Million |
|
Tederic Machinery Co Ltd
SHG:603289
|
$500.59 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Qualitas Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 367,012,000 to 380,370,000, a change of 13,358,000 (3.6%).
- Net income of 33,411,000 contributed positively to equity growth.
- Dividend payments of 24,596,000 reduced retained earnings.
- Share repurchases of 164,000 reduced equity.
- Other comprehensive income increased equity by 2,034,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$33.41 Million | +8.78% |
| Dividends Paid | AU$24.60 Million | -6.47% |
| Share Repurchases | AU$164.00K | -0.04% |
| Other Comprehensive Income | AU$2.03 Million | +0.53% |
| Other Changes | AU$2.67 Million | +0.7% |
| Total Change | AU$- | 3.64% |
Book Value vs Market Value Analysis
This analysis compares Qualitas 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: 1.85x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 15.03x to 1.85x 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$0.16 | AU$2.35 | x |
| 2019-06-30 | AU$4000136600.00 | AU$2.35 | x |
| 2020-06-30 | AU$0.14 | AU$2.35 | x |
| 2021-06-30 | AU$1.14 | AU$2.35 | x |
| 2022-06-30 | AU$1.21 | AU$2.35 | x |
| 2023-06-30 | AU$1.22 | AU$2.35 | x |
| 2024-06-30 | AU$1.23 | AU$2.35 | x |
| 2025-06-30 | AU$1.27 | AU$2.35 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Qualitas 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): 8.78%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.46%
- • Asset Turnover: 0.24x
- • Equity Multiplier: 1.27x
- Recent ROE (8.78%) is below the historical average (9.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 25.06% | 24.30% | 0.10x | 10.32x | AU$6.92 Million |
| 2019 | 11.13% | 8.05% | 0.11x | 12.23x | AU$450.86K |
| 2020 | 9.12% | 7.44% | 0.09x | 13.38x | AU$-357.00K |
| 2021 | 3.26% | 15.47% | 0.09x | 2.43x | AU$-22.67 Million |
| 2022 | 3.42% | 25.60% | 0.06x | 2.29x | AU$-23.34 Million |
| 2023 | 6.23% | 23.94% | 0.13x | 2.05x | AU$-13.67 Million |
| 2024 | 7.13% | 25.32% | 0.15x | 1.93x | AU$-10.52 Million |
| 2025 | 8.78% | 28.46% | 0.24x | 1.27x | AU$-4.63 Million |
Industry Comparison
This section compares Qualitas Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $718,320,473
- Average return on equity (ROE) among peers: -14.88%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Qualitas Ltd (QAL) | AU$384.80 Million | 25.06% | 0.23x | $501.20 Million |
| Acorn Capital Investment Fund Ltd (ACQ) | $61.32 Million | 3.33% | 0.06x | $57.22 Million |
| Australian Ethical Investment Ltd (AEF) | $4.32 Million | 8.17% | 0.21x | $314.92 Million |
| Australian Foundation Investment Company Ltd (AFI) | $838.34 Million | 5.86% | 0.13x | $5.89 Billion |
| Alternative Investment Trust (AIQ) | $18.14 Million | 8.58% | 0.01x | $33.32 Million |
| Argo Global Listed Infrastructure Ltd (ALI) | $301.56 Million | 5.39% | 0.03x | $298.12 Million |
| Amcil Ltd (AMH) | $225.89 Million | 3.40% | 0.07x | $206.63 Million |
| Associate Global Partners Ltd (APL) | $7.55 Million | -115.52% | 0.29x | $11.51 Million |
| Ariadne Australia Ltd (ARA) | $76.70 Million | 6.78% | 0.13x | $66.00 Million |
| ARC Funds Ltd (ARC) | $4.95 Million | -77.91% | 0.59x | $3.65 Million |
| Argo Investments Ltd (ARG) | $5.64 Billion | 3.08% | 0.17x | $4.70 Billion |
About Qualitas Ltd
Qualitas is a real estate investment firm which focuses on direct investment in all real estate classes and geographies, acquisitions and restructuring of distressed debt, third party capital raisings and consulting services. It seeks to provide bridge loans in the major markets of the Australian east coast, and particularly the medium and high density residential development sector. Qualitas is … Read more