Rubicon Water Ltd (RWL) - Net Assets

Latest as of December 2025: AU$57.10 Million AUD ≈ $40.40 Million USD

Based on the latest financial reports, Rubicon Water Ltd (RWL) has net assets worth AU$57.10 Million AUD (≈ $40.40 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$101.17 Million ≈ $71.59 Million USD) and total liabilities (AU$44.07 Million ≈ $31.18 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. Also explore Rubicon Water Ltd assets under control for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$57.10 Million
% of Total Assets	56.44%
Annual Growth Rate	11.54%
5-Year Change	30.13%
10-Year Change	N/A
Growth Volatility	21.52

Rubicon Water Ltd - Net Assets Trend (2016–2024)

This chart illustrates how Rubicon Water Ltd's net assets have evolved over time, based on quarterly financial data. Check Rubicon Water Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Rubicon Water Ltd (2016–2024)

The table below shows the annual net assets of Rubicon Water Ltd from 2016 to 2024. For live valuation and market cap data, see RWL stock market capitalisation.

Year	Net Assets	Change
2024-12-31	AU$63.96 Million ≈ $45.25 Million	+16.59%
2023-12-31	AU$54.85 Million ≈ $38.81 Million	-16.64%
2022-12-31	AU$65.80 Million ≈ $46.56 Million	-13.58%
2021-12-31	AU$76.15 Million ≈ $53.88 Million	+54.93%
2020-12-31	AU$49.15 Million ≈ $34.78 Million	+18.73%
2019-12-31	AU$41.40 Million ≈ $29.29 Million	+2.36%
2018-12-31	AU$40.44 Million ≈ $28.61 Million	+24.38%
2017-12-31	AU$32.51 Million ≈ $23.00 Million	+21.76%
2016-12-31	AU$26.70 Million ≈ $18.89 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Rubicon Water 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 62.4% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	AU$9.07 Million	14.07%
Common Stock	AU$184.03 Million	285.68%
Other Comprehensive Income	AU$-128.68 Million	-199.75%
Total Equity	AU$64.42 Million	100.00%

Rubicon Water Ltd Competitors by Market Cap

The table below lists competitors of Rubicon Water Ltd ranked by their market capitalization.

Company	Market Cap
Pacific Horizon Investment Trust LSE:PHI	$11.08 Million
Rajshree Sugars & Chemicals Limited NSE:RAJSREESUG	$11.08 Million
Ssif Broker Cl RO:BRK	$11.08 Million
Mustika Ratu Tbk JK:MRAT	$11.08 Million
Greentech Metals Ltd AU:GRE	$11.07 Million
The Motor & General Finance Limited NSE:MOTOGENFIN	$11.07 Million
KIWI Media Group Co.Ltd KO:012170	$11.06 Million
General Environmental Conservation Public Company Limited BK:GENCO	$11.06 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 55,134,000 to 64,417,000, a change of 9,283,000 (16.8%).
Net loss of 6,788,000 reduced equity.
Share repurchases of 17,027,000 reduced equity.
Other comprehensive income increased equity by 239,000.
Other factors increased equity by 32,859,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	AU$-6.79 Million	-10.54%
Share Repurchases	AU$17.03 Million	-26.43%
Other Comprehensive Income	AU$239.00K	+0.37%
Other Changes	AU$32.86 Million	+51.01%
Total Change	AU$-	16.84%

Book Value vs Market Value Analysis

This analysis compares Rubicon Water 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: 0.23x
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 0.42x to 0.23x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2016-12-31	AU$0.16	AU$0.07	x
2017-12-31	AU$0.25	AU$0.07	x
2018-12-31	AU$0.30	AU$0.07	x
2019-12-31	AU$0.41	AU$0.07	x
2020-12-31	AU$0.28	AU$0.07	x
2021-12-31	AU$0.46	AU$0.07	x
2022-12-31	AU$0.38	AU$0.07	x
2023-12-31	AU$0.32	AU$0.07	x
2024-12-31	AU$0.28	AU$0.07	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Rubicon Water 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): -10.54%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -9.83%
• Asset Turnover: 0.66x
• Equity Multiplier: 1.61x
Recent ROE (-10.54%) is below the historical average (4.66%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	22.72%	10.07%	1.37x	1.65x	AU$3.40 Million
2017	26.14%	11.78%	1.35x	1.64x	AU$5.19 Million
2018	20.62%	10.86%	1.10x	1.72x	AU$4.22 Million
2019	2.48%	1.56%	0.69x	2.30x	AU$-3.06 Million
2020	17.15%	10.21%	0.76x	2.20x	AU$3.47 Million
2021	-0.58%	-0.67%	0.52x	1.66x	AU$-8.02 Million
2022	-16.62%	-19.79%	0.49x	1.70x	AU$-17.50 Million
2023	-19.43%	-18.34%	0.55x	1.93x	AU$-16.22 Million
2024	-10.54%	-9.83%	0.66x	1.61x	AU$-13.23 Million

Industry Comparison

This section compares Rubicon Water Ltd's net assets metrics with peer companies in the Utilities - Regulated Water industry.

Industry Context

Industry: Utilities - Regulated Water
Average net assets among peers: $40,678,087
Average return on equity (ROE) among peers: -36.84%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Rubicon Water Ltd (RWL)	AU$57.10 Million	22.72%	0.77x	$11.07 Million
Clean TEQ Water Ltd (CNQ)	$3.98 Million	-76.35%	2.11x	$30.98 Million
Duxton Water Ltd (D2O)	$77.38 Million	2.67%	0.04x	$168.40 Million

About Rubicon Water Ltd

AU:RWL Australia Utilities - Regulated Water

Market Cap

$11.07 Million

AU$15.65 Million AUD

Market Cap Rank

#26784 Global

#1251 in Australia

Share Price

AU$0.07

Change (1 day)

+0.00%

52-Week Range

AU$0.06 - AU$0.28

All Time High

AU$1.96