SOUTH32 Ltd
South32 Limited operates as a diversified metals and mining company. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Australia Manganese, and South Africa Manganese segments. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, and manganese products. T… Read more
SOUTH32 Ltd (S32) - Net Assets
Latest net assets as of December 2025: AU$9.26 Billion AUD
Based on the latest financial reports, SOUTH32 Ltd (S32) has net assets worth AU$9.26 Billion AUD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$13.80 Billion) and total liabilities (AU$4.54 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$9.26 Billion |
| % of Total Assets | 67.09% |
| Annual Growth Rate | -3.36% |
| 5-Year Change | -1.08% |
| 10-Year Change | -6.0% |
| Growth Volatility | 11.77 |
SOUTH32 Ltd - Net Assets Trend (2012–2025)
This chart illustrates how SOUTH32 Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SOUTH32 Ltd (2012–2025)
The table below shows the annual net assets of SOUTH32 Ltd from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$8.86 Billion | -1.27% |
| 2024-06-30 | AU$8.97 Billion | -4.31% |
| 2023-06-30 | AU$9.38 Billion | -13.03% |
| 2022-06-30 | AU$10.78 Billion | +20.38% |
| 2021-06-30 | AU$8.95 Billion | -6.36% |
| 2020-06-30 | AU$9.56 Billion | -5.96% |
| 2019-06-30 | AU$10.17 Billion | -5.05% |
| 2018-06-30 | AU$10.71 Billion | +4.63% |
| 2017-06-30 | AU$10.23 Billion | +8.63% |
| 2016-06-30 | AU$9.42 Billion | -14.62% |
| 2015-06-30 | AU$11.04 Billion | +12.37% |
| 2014-06-30 | AU$9.82 Billion | -2.96% |
| 2013-06-30 | AU$10.12 Billion | -26.73% |
| 2012-06-30 | AU$13.81 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to SOUTH32 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 72300000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$13.16 Billion | 148.78% |
| Total Equity | AU$8.85 Billion | 100.00% |
SOUTH32 Ltd Competitors by Market Cap
The table below lists competitors of SOUTH32 Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dayforce Inc.
NYSE:DAY
|
$10.96 Billion |
|
China CITIC Bank Corporation Limited
F:D7C
|
$10.97 Billion |
|
Webster Financial Corporation
NYSE:WBS
|
$10.99 Billion |
|
Marks & Spencer Group Plc
OTCQX:MAKSY
|
$10.99 Billion |
|
Metso Oyj
HE:METSO
|
$10.93 Billion |
|
Godaddy Inc
NYSE:GDDY
|
$10.91 Billion |
|
J Sainsbury PLC OTC
OTCQX:JSAIY
|
$10.91 Billion |
|
BridgeBio Pharma Inc
NASDAQ:BBIO
|
$10.90 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SOUTH32 Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,960,000,000 to 8,845,000,000, a change of -115,000,000 (-1.3%).
- Net income of 213,000,000 contributed positively to equity growth.
- Dividend payments of 294,000,000 reduced retained earnings.
- Share repurchases of 56,000,000 reduced equity.
- Other comprehensive income increased equity by 3,575,000,000.
- Other factors decreased equity by 3,543,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$213.00 Million | +2.41% |
| Dividends Paid | AU$294.00 Million | -3.32% |
| Share Repurchases | AU$56.00 Million | -0.63% |
| Other Comprehensive Income | AU$3.58 Billion | +40.42% |
| Other Changes | AU$-3.54 Billion | -40.06% |
| Total Change | AU$- | -1.28% |
Book Value vs Market Value Analysis
This analysis compares SOUTH32 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: 2.14x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.72x to 2.14x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-06-30 | AU$2.43 | AU$4.18 | x |
| 2013-06-30 | AU$1.73 | AU$4.18 | x |
| 2014-06-30 | AU$2.79 | AU$4.18 | x |
| 2015-06-30 | AU$3.21 | AU$4.18 | x |
| 2016-06-30 | AU$1.77 | AU$4.18 | x |
| 2017-06-30 | AU$1.91 | AU$4.18 | x |
| 2018-06-30 | AU$2.04 | AU$4.18 | x |
| 2019-06-30 | AU$1.99 | AU$4.18 | x |
| 2020-06-30 | AU$1.95 | AU$4.18 | x |
| 2021-06-30 | AU$1.87 | AU$4.18 | x |
| 2022-06-30 | AU$2.30 | AU$4.18 | x |
| 2023-06-30 | AU$2.05 | AU$4.18 | x |
| 2024-06-30 | AU$1.98 | AU$4.18 | x |
| 2025-06-30 | AU$1.96 | AU$4.18 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SOUTH32 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): 2.41%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.69%
- • Asset Turnover: 0.42x
- • Equity Multiplier: 1.55x
- Recent ROE (2.41%) is above the historical average (1.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 10.77% | 10.13% | 0.58x | 1.85x | AU$100.00 Million |
| 2013 | -15.92% | -12.13% | 0.62x | 2.12x | AU$-2.39 Billion |
| 2014 | 0.51% | 0.55% | 0.42x | 2.20x | AU$-849.30 Million |
| 2015 | -8.33% | -23.91% | 0.25x | 1.40x | AU$-2.02 Billion |
| 2016 | -17.14% | -26.39% | 0.46x | 1.42x | AU$-2.56 Billion |
| 2017 | 12.03% | 17.11% | 0.49x | 1.44x | AU$207.40 Million |
| 2018 | 12.44% | 17.64% | 0.50x | 1.41x | AU$261.00 Million |
| 2019 | 3.83% | 5.35% | 0.49x | 1.45x | AU$-627.90 Million |
| 2020 | -0.68% | -1.30% | 0.36x | 1.44x | AU$-1.02 Billion |
| 2021 | -2.18% | -3.56% | 0.41x | 1.48x | AU$-1.09 Billion |
| 2022 | 24.76% | 28.79% | 0.57x | 1.52x | AU$1.59 Billion |
| 2023 | -1.85% | -3.06% | 0.39x | 1.55x | AU$-1.11 Billion |
| 2024 | -2.27% | -3.71% | 0.38x | 1.59x | AU$-1.10 Billion |
| 2025 | 2.41% | 3.69% | 0.42x | 1.55x | AU$-671.50 Million |
Industry Comparison
This section compares SOUTH32 Ltd's net assets metrics with peer companies in the Other Industrial Metals & Mining industry.
Industry Context
- Industry: Other Industrial Metals & Mining
- Average net assets among peers: $18,826,689
- Average return on equity (ROE) among peers: -37.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SOUTH32 Ltd (S32) | AU$9.26 Billion | 10.77% | 0.49x | $10.95 Billion |
| EXULTANT FPO [10X] (10X) | $5.63 Million | -1.35% | 0.01x | $1.03K |
| Morella Corporation Ltd (1MC) | $64.99 Million | -144.24% | 4.26x | $2.93 Million |
| 6K Additive Inc (6KA) | $62.92 Million | -28.47% | 0.10x | $24.39 Million |
| Atlantic Lithium Ltd (A11) | $15.58 Million | -14.80% | 0.03x | $91.16 Million |
| African Gold Ltd (A1G) | $10.30 Million | -17.56% | 0.09x | $169.49 Million |
| Albright Metals Ltd (ABR) | $7.74 Million | -10.47% | 0.03x | $949.11K |
| Audalia Resources Ltd (ACP) | $2.12 Million | -18.55% | 0.04x | $893.85K |
| Accent Resources NL (ACS) | $1.74 Million | -130.20% | 4.99x | $211.71K |
| Acdc Metals Ltd (ADC) | $10.58 Million | -4.74% | 0.03x | $939.49K |
| Admiralty Resources NL (ADY) | $6.66 Million | 0.00% | 0.34x | $5.70 Million |