Reef Casino Trust (RCT) - Net Assets
Based on the latest financial reports, Reef Casino Trust (RCT) has net assets worth AU$12.19 Million AUD (≈ $8.63 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$103.62 Million ≈ $73.32 Million USD) and total liabilities (AU$91.42 Million ≈ $64.69 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 Reef Casino Trust (RCT) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$12.19 Million |
| % of Total Assets | 11.77% |
| Annual Growth Rate | -3.03% |
| 5-Year Change | -4.96% |
| 10-Year Change | -0.29% |
| Growth Volatility | 47.95 |
Reef Casino Trust - Net Assets Trend (1993–2025)
This chart illustrates how Reef Casino Trust's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of Reef Casino Trust.
Annual Net Assets for Reef Casino Trust (1993–2025)
The table below shows the annual net assets of Reef Casino Trust from 1993 to 2025. Also explore Reef Casino Trust (RCT) equity growth momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | AU$12.19 Million ≈ $8.63 Million |
+7.43% |
| 2024-12-31 | AU$11.35 Million ≈ $8.03 Million |
-1.38% |
| 2023-12-31 | AU$11.51 Million ≈ $8.14 Million |
-19.13% |
| 2022-12-31 | AU$14.23 Million ≈ $10.07 Million |
+10.94% |
| 2021-12-31 | AU$12.83 Million ≈ $9.08 Million |
+45.72% |
| 2020-12-31 | AU$8.80 Million ≈ $6.23 Million |
-24.82% |
| 2019-12-31 | AU$11.71 Million ≈ $8.29 Million |
-0.48% |
| 2018-12-31 | AU$11.77 Million ≈ $8.33 Million |
-9.80% |
| 2017-12-31 | AU$13.05 Million ≈ $9.23 Million |
+6.69% |
| 2016-12-31 | AU$12.23 Million ≈ $8.65 Million |
-9.21% |
| 2015-12-31 | AU$13.47 Million ≈ $9.53 Million |
-3.68% |
| 2014-12-31 | AU$13.98 Million ≈ $9.89 Million |
-2.74% |
| 2013-12-31 | AU$14.38 Million ≈ $10.17 Million |
+13.64% |
| 2012-12-31 | AU$12.65 Million ≈ $8.95 Million |
+7.64% |
| 2011-12-31 | AU$11.75 Million ≈ $8.32 Million |
+3.15% |
| 2010-12-31 | AU$11.39 Million ≈ $8.06 Million |
-17.25% |
| 2009-12-31 | AU$13.77 Million ≈ $9.74 Million |
-80.44% |
| 2008-12-31 | AU$70.41 Million ≈ $49.82 Million |
-0.42% |
| 2007-12-31 | AU$70.70 Million ≈ $50.03 Million |
+110.36% |
| 2006-12-31 | AU$33.61 Million ≈ $23.78 Million |
+2.71% |
| 2005-12-31 | AU$32.72 Million ≈ $23.15 Million |
-74.46% |
| 2004-12-31 | AU$128.14 Million ≈ $90.67 Million |
+37.12% |
| 2003-12-31 | AU$93.45 Million ≈ $66.12 Million |
+9.52% |
| 2002-12-31 | AU$85.33 Million ≈ $60.38 Million |
+2.72% |
| 2001-12-31 | AU$83.07 Million ≈ $58.78 Million |
+78.57% |
| 2000-12-31 | AU$46.52 Million ≈ $32.91 Million |
-3.08% |
| 1999-12-31 | AU$48.00 Million ≈ $33.96 Million |
+258.92% |
| 1998-12-31 | AU$-30.20 Million ≈ $-21.37 Million |
-1.51% |
| 1997-12-31 | AU$-29.75 Million ≈ $-21.05 Million |
-135.53% |
| 1996-12-31 | AU$83.74 Million ≈ $59.25 Million |
-16.79% |
| 1995-12-31 | AU$100.63 Million ≈ $71.20 Million |
+44.71% |
| 1994-12-31 | AU$69.54 Million ≈ $49.20 Million |
+112.79% |
| 1993-12-31 | AU$32.68 Million ≈ $23.12 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Reef Casino Trust'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 8663900000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$85.05 Million | 697.54% |
| Other Comprehensive Income | AU$13.78 Million | 113.02% |
| Total Equity | AU$12.19 Million | 100.00% |
Reef Casino Trust Competitors by Market Cap
The table below lists competitors of Reef Casino Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ge Shen Corporation Bhd
KLSE:7197
|
$122.64 Million |
|
New Best Wire Industrial Co Ltd
TWO:5013
|
$122.74 Million |
|
Nevgold Corp.
V:NAU
|
$122.80 Million |
|
Sula Vineyards Limited
NSE:SULA
|
$122.82 Million |
|
John Hancock Income Securities Closed Fund
NYSE:JHS
|
$122.52 Million |
|
Cornish Metals Inc.
V:CUSN
|
$122.51 Million |
|
Yeong Hwa Meta
KO:012280
|
$122.50 Million |
|
Fabryka Obrabiarek RAFAMET S.A.
WAR:RAF
|
$122.33 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Reef Casino Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,350,000 to 12,193,000, a change of 843,000 (7.4%).
- Net income of 5,410,000 contributed positively to equity growth.
- Dividend payments of 9,133,000 reduced retained earnings.
- Other comprehensive income increased equity by 843,000.
- Other factors increased equity by 3,723,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$5.41 Million | +44.37% |
| Dividends Paid | AU$9.13 Million | -74.9% |
| Other Comprehensive Income | AU$843.00K | +6.91% |
| Other Changes | AU$3.72 Million | +30.53% |
| Total Change | AU$- | 7.43% |
Book Value vs Market Value Analysis
This analysis compares Reef Casino Trust'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: 7.11x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 2.65x to 7.11x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | AU$1.31 | AU$3.48 | x |
| 1994-12-31 | AU$3.78 | AU$3.48 | x |
| 1995-12-31 | AU$8.46 | AU$3.48 | x |
| 1996-12-31 | AU$6.80 | AU$3.48 | x |
| 1997-12-31 | AU$-2.49 | AU$3.48 | x |
| 1998-12-31 | AU$-2.54 | AU$3.48 | x |
| 1999-12-31 | AU$1.28 | AU$3.48 | x |
| 2000-12-31 | AU$0.93 | AU$3.48 | x |
| 2001-12-31 | AU$1.67 | AU$3.48 | x |
| 2002-12-31 | AU$1.71 | AU$3.48 | x |
| 2003-12-31 | AU$1.88 | AU$3.48 | x |
| 2004-12-31 | AU$2.57 | AU$3.48 | x |
| 2005-12-31 | AU$0.66 | AU$3.48 | x |
| 2006-12-31 | AU$0.67 | AU$3.48 | x |
| 2007-12-31 | AU$2.84 | AU$3.48 | x |
| 2008-12-31 | AU$2.83 | AU$3.48 | x |
| 2009-12-31 | AU$0.55 | AU$3.48 | x |
| 2010-12-31 | AU$0.46 | AU$3.48 | x |
| 2011-12-31 | AU$0.47 | AU$3.48 | x |
| 2012-12-31 | AU$0.51 | AU$3.48 | x |
| 2013-12-31 | AU$0.58 | AU$3.48 | x |
| 2014-12-31 | AU$0.56 | AU$3.48 | x |
| 2015-12-31 | AU$0.54 | AU$3.48 | x |
| 2016-12-31 | AU$0.49 | AU$3.48 | x |
| 2017-12-31 | AU$0.52 | AU$3.48 | x |
| 2018-12-31 | AU$0.47 | AU$3.48 | x |
| 2019-12-31 | AU$0.47 | AU$3.48 | x |
| 2020-12-31 | AU$0.35 | AU$3.48 | x |
| 2021-12-31 | AU$0.52 | AU$3.48 | x |
| 2022-12-31 | AU$0.57 | AU$3.48 | x |
| 2023-12-31 | AU$0.46 | AU$3.48 | x |
| 2024-12-31 | AU$0.46 | AU$3.48 | x |
| 2025-12-31 | AU$0.49 | AU$3.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Reef Casino Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 44.37%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.23%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 8.50x
- Recent ROE (44.37%) is above the historical average (30.11%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | -26.63% | 0.00% | 0.00x | 2.03x | AU$-36.86 Million |
| 1996 | -20.18% | 0.00% | 0.00x | 2.26x | AU$-25.27 Million |
| 1997 | 0.00% | 0.00% | 0.00x | 0.00x | AU$-110.52 Million |
| 1998 | 0.00% | 0.00% | 0.00x | 0.00x | AU$2.57 Million |
| 1999 | 78.08% | 251.18% | 0.18x | 1.75x | AU$30.98 Million |
| 2000 | 8.60% | 50.67% | 0.10x | 1.74x | AU$-652.80K |
| 2001 | 51.34% | 83.47% | 0.43x | 1.41x | AU$34.34 Million |
| 2002 | 9.80% | 2912.20% | 0.00x | 1.33x | AU$-174.90K |
| 2003 | 11.89% | 56.81% | 0.17x | 1.24x | AU$1.76 Million |
| 2004 | 32.71% | 170.33% | 0.17x | 1.16x | AU$29.10 Million |
| 2005 | 11.29% | 16.43% | 0.16x | 4.25x | AU$423.70K |
| 2006 | 20.06% | 26964.00% | 0.00x | 4.16x | AU$3.38 Million |
| 2007 | 11.02% | 278.82% | 0.02x | 2.50x | AU$722.70K |
| 2008 | 8.65% | 15610.26% | 0.00x | 2.52x | AU$-952.80K |
| 2009 | 46.53% | 27.50% | 0.20x | 8.35x | AU$5.03 Million |
| 2010 | 33.59% | 21.17% | 0.16x | 9.88x | AU$2.69 Million |
| 2011 | 49.51% | 11190.38% | 0.00x | 9.54x | AU$4.64 Million |
| 2012 | 42.75% | 25.39% | 0.19x | 8.77x | AU$4.14 Million |
| 2013 | 48.42% | 28.68% | 0.22x | 7.72x | AU$5.52 Million |
| 2014 | 43.14% | 26.39% | 0.21x | 7.66x | AU$4.63 Million |
| 2015 | 55.53% | 29.80% | 0.24x | 7.88x | AU$6.13 Million |
| 2016 | 48.68% | 26.65% | 0.20x | 8.96x | AU$4.73 Million |
| 2017 | 43.24% | 25.19% | 0.21x | 8.18x | AU$4.34 Million |
| 2018 | 42.92% | 23.58% | 0.20x | 8.92x | AU$3.87 Million |
| 2019 | 28.48% | 17.50% | 0.19x | 8.67x | AU$2.16 Million |
| 2020 | -2.37% | -1.33% | 0.16x | 11.39x | AU$-1.09 Million |
| 2021 | 57.38% | 27.40% | 0.26x | 8.14x | AU$6.08 Million |
| 2022 | 63.19% | 29.47% | 0.28x | 7.54x | AU$7.57 Million |
| 2023 | 46.67% | 20.43% | 0.26x | 8.91x | AU$4.22 Million |
| 2024 | 44.79% | 19.92% | 0.25x | 8.91x | AU$3.95 Million |
| 2025 | 44.37% | 20.23% | 0.26x | 8.50x | AU$4.19 Million |
Industry Comparison
This section compares Reef Casino Trust's net assets metrics with peer companies in the Resorts & Casinos industry.
Industry Context
- Industry: Resorts & Casinos
- Average net assets among peers: $1,491,632,741
- Average return on equity (ROE) among peers: -13.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Reef Casino Trust (RCT) | AU$12.19 Million | -26.63% | 7.50x | $122.63 Million |
| Donaco International Ltd (DNA) | $120.67 Million | -30.46% | 0.51x | $39.30 Million |
| The Star Entertainment Group Ltd (SGR) | $2.86 Billion | 2.92% | 0.52x | $727.81 Million |
About Reef Casino Trust
Reef Casino Trust operates as an owner and lessor of the Reef Hotel Casino complex located in Cairns in North Queensland, Australia. The company provides various dine options comprising Tamarind Restaurant, Soy Kitchen Street Food, Merchant Café, and Flinders Bar and Grill restaurants. It offers venues, including Lihou bar, Bar36, tamarind private dining, sports arena, events and conferences, and… Read more