Step One Clothing Ltd (STP) - Net Assets
Based on the latest financial reports, Step One Clothing Ltd (STP) has net assets worth AU$38.94 Million AUD (≈ $27.55 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$47.38 Million ≈ $33.52 Million USD) and total liabilities (AU$8.44 Million ≈ $5.97 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 Step One Clothing Ltd liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$38.94 Million |
| % of Total Assets | 82.2% |
| Annual Growth Rate | 139.44% |
| 5-Year Change | 20.26% |
| 10-Year Change | N/A |
| Growth Volatility | 494.86 |
Step One Clothing Ltd - Net Assets Trend (2018–2025)
This chart illustrates how Step One Clothing Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Step One Clothing Ltd balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Step One Clothing Ltd (2018–2025)
The table below shows the annual net assets of Step One Clothing Ltd from 2018 to 2025. For live valuation and market cap data, see STP stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$52.00 Million ≈ $36.79 Million |
-0.43% |
| 2024-06-30 | AU$52.22 Million ≈ $36.95 Million |
-8.50% |
| 2023-06-30 | AU$57.07 Million ≈ $40.38 Million |
+17.34% |
| 2022-06-30 | AU$48.64 Million ≈ $34.42 Million |
+12.50% |
| 2021-06-30 | AU$43.24 Million ≈ $30.59 Million |
+904.41% |
| 2020-06-30 | AU$4.30 Million ≈ $3.05 Million |
+167.41% |
| 2019-06-30 | AU$1.61 Million ≈ $1.14 Million |
+1297.68% |
| 2018-06-30 | AU$115.17K ≈ $81.49K |
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Equity Component Analysis
This analysis shows how different components contribute to Step One Clothing 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 283.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$50.40 Million | 96.92% |
| Other Comprehensive Income | AU$1.81 Million | 3.49% |
| Total Equity | AU$52.00 Million | 100.00% |
Step One Clothing Ltd Competitors by Market Cap
The table below lists competitors of Step One Clothing Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cayman Tung Ling Co Ltd
TWO:2924
|
$24.92 Million |
|
N.D. Rubber Public Company Limited
BK:NDR
|
$24.92 Million |
|
Jindo.Co. Ltd
KO:088790
|
$24.93 Million |
|
Ranix INC
KQ:317120
|
$24.93 Million |
|
Cuscapi Berhad
KLSE:0051
|
$24.91 Million |
|
Seyitler Kimya Sanayi AS
IS:SEYKM
|
$24.91 Million |
|
Tek Seng Holdings Bhd
KLSE:7200
|
$24.90 Million |
|
Kalyani Forge Limited
NSE:KALYANIFRG
|
$24.90 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Step One Clothing Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 52,221,000 to 51,999,000, a change of -222,000 (-0.4%).
- Net income of 12,651,000 contributed positively to equity growth.
- Dividend payments of 13,293,000 reduced retained earnings.
- Share repurchases of 529,000 reduced equity.
- Other comprehensive income increased equity by 949,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$12.65 Million | +24.33% |
| Dividends Paid | AU$13.29 Million | -25.56% |
| Share Repurchases | AU$529.00K | -1.02% |
| Other Comprehensive Income | AU$949.00K | +1.83% |
| Total Change | AU$- | -0.43% |
Book Value vs Market Value Analysis
This analysis compares Step One Clothing 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: 0.68x
- 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 305.75x to 0.68x 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$0.00 | AU$0.19 | x |
| 2019-06-30 | AU$0.01 | AU$0.19 | x |
| 2020-06-30 | AU$0.02 | AU$0.19 | x |
| 2021-06-30 | AU$0.23 | AU$0.19 | x |
| 2022-06-30 | AU$0.28 | AU$0.19 | x |
| 2023-06-30 | AU$0.31 | AU$0.19 | x |
| 2024-06-30 | AU$0.28 | AU$0.19 | x |
| 2025-06-30 | AU$0.28 | AU$0.19 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Step One Clothing 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): 24.33%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.56%
- • Asset Turnover: 1.40x
- • Equity Multiplier: 1.19x
- Recent ROE (24.33%) is below the historical average (43.54%), 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 | 106.90% | 8.89% | 2.53x | 4.75x | AU$111.61K |
| 2019 | 97.82% | 20.40% | 2.24x | 2.14x | AU$1.41 Million |
| 2020 | 86.91% | 16.82% | 2.17x | 2.39x | AU$3.31 Million |
| 2021 | -0.27% | -0.19% | 1.10x | 1.30x | AU$-4.44 Million |
| 2022 | -6.17% | -4.16% | 1.14x | 1.30x | AU$-7.87 Million |
| 2023 | 15.10% | 13.22% | 0.99x | 1.16x | AU$2.91 Million |
| 2024 | 23.75% | 14.67% | 1.33x | 1.22x | AU$7.18 Million |
| 2025 | 24.33% | 14.56% | 1.40x | 1.19x | AU$7.45 Million |
Industry Comparison
This section compares Step One Clothing Ltd's net assets metrics with peer companies in the Apparel Retail industry.
Industry Context
- Industry: Apparel Retail
- Average net assets among peers: $51,475,108
- Average return on equity (ROE) among peers: -21.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Step One Clothing Ltd (STP) | AU$38.94 Million | 106.90% | 0.22x | $24.92 Million |
| Accent Group Ltd (AX1) | $19.85 Million | -101.05% | 0.81x | $238.21 Million |
| City Chic Collective Ltd (CCX) | $37.10 Million | -25.08% | 4.29x | $10.90 Million |
| Premier Investments Ltd (PMV) | $135.37 Million | -0.07% | 0.77x | $1.31 Billion |
| Universal Store Holdings Ltd (UNI) | $13.58 Million | 40.82% | 0.71x | $355.02 Million |
About Step One Clothing Ltd
Step One Clothing Limited operates as a direct-to-consumer online retailer for underwear in the United Kingdom, the United States, and Australia. It offers men's and women's underwear through website, stepone.life. The company was incorporated in 2017 and is based in Sydney, Australia.