Thorney Opportunities Ltd
Thorney Opportunities Ltd is an equity fund launched and managed by Thorney Management Services Pty Ltd. The fund invests in the public equity markets of Australia. It seeks to invest in stocks of companies operating across diversified sectors. Thorney Opportunities Ltd is domiciled in Australia.
Thorney Opportunities Ltd (TOP) - Net Assets
Latest net assets as of June 2025: AU$158.09 Million AUD
Based on the latest financial reports, Thorney Opportunities Ltd (TOP) has net assets worth AU$158.09 Million AUD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$179.90 Million) and total liabilities (AU$21.80 Million). 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$158.09 Million |
| % of Total Assets | 87.88% |
| Annual Growth Rate | 12.81% |
| 5-Year Change | 13.34% |
| 10-Year Change | 53.47% |
| Growth Volatility | 4697.7 |
Thorney Opportunities Ltd - Net Assets Trend (1999–2025)
This chart illustrates how Thorney Opportunities 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 Thorney Opportunities Ltd (1999–2025)
The table below shows the annual net assets of Thorney Opportunities Ltd from 1999 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$158.09 Million | -0.72% |
| 2024-06-30 | AU$159.24 Million | +19.68% |
| 2023-06-30 | AU$133.06 Million | +2.90% |
| 2022-06-30 | AU$129.30 Million | -7.30% |
| 2021-06-30 | AU$139.49 Million | +14.25% |
| 2020-06-30 | AU$122.09 Million | -25.10% |
| 2019-06-30 | AU$163.02 Million | +5.75% |
| 2018-06-30 | AU$154.15 Million | +26.98% |
| 2017-06-30 | AU$121.40 Million | +17.85% |
| 2016-06-30 | AU$103.01 Million | +17.43% |
| 2015-06-30 | AU$87.73 Million | +11.88% |
| 2014-06-30 | AU$78.41 Million | +442.97% |
| 2013-06-30 | AU$14.44 Million | -1.92% |
| 2012-06-30 | AU$14.72 Million | +20.35% |
| 2011-06-30 | AU$12.23 Million | -14.19% |
| 2010-06-30 | AU$14.26 Million | +46.04% |
| 2009-06-30 | AU$9.76 Million | -53.70% |
| 2008-06-30 | AU$21.08 Million | -52.84% |
| 2007-06-30 | AU$44.70 Million | -2.14% |
| 2006-06-30 | AU$45.68 Million | +24432.32% |
| 2005-06-30 | AU$186.19K | -36.35% |
| 2004-06-30 | AU$292.50K | -24.65% |
| 2003-06-30 | AU$388.18K | -72.02% |
| 2002-06-30 | AU$1.39 Million | -50.80% |
| 2001-06-30 | AU$2.82 Million | -57.05% |
| 2000-06-30 | AU$6.56 Million | -4.52% |
| 1999-06-30 | AU$6.88 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thorney Opportunities 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 15572011000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$89.00 Million | 56.30% |
| Other Comprehensive Income | AU$224.81 Million | 142.20% |
| Total Equity | AU$158.09 Million | 100.00% |
Thorney Opportunities Ltd Competitors by Market Cap
The table below lists competitors of Thorney Opportunities Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Fateh Sports Wear Limited
KAR:FSWL
|
$3.41K |
|
Aztec
WAR:AZC
|
$3.41K |
|
Six of October Development & Investment (SODIC)
EGX:OCDI
|
$3.41K |
|
US AUTO PARTS NTWRK
BE:ZZF
|
$3.41K |
|
ATOM EDUC ON
SA:ATED3
|
$3.40K |
|
Prostatype Genomics AB (publ)
OTCQB:PGABF
|
$3.40K |
|
HAGA3F
SA:HAGA3F
|
$3.40K |
|
Galvo
WAR:GAL
|
$3.40K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thorney Opportunities Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 159,242,736 to 158,091,266, a change of -1,151,470 (-0.7%).
- Net income of 8,541,057 contributed positively to equity growth.
- Dividend payments of 4,693,378 reduced retained earnings.
- Share repurchases of 4,999,148 reduced equity.
- Other comprehensive income increased equity by 11,786,476.
- Other factors decreased equity by 11,786,477.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$8.54 Million | +5.4% |
| Dividends Paid | AU$4.69 Million | -2.97% |
| Share Repurchases | AU$5.00 Million | -3.16% |
| Other Comprehensive Income | AU$11.79 Million | +7.46% |
| Other Changes | AU$-11.79 Million | -7.46% |
| Total Change | AU$- | -0.72% |
Book Value vs Market Value Analysis
This analysis compares Thorney Opportunities 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: 0.67x
- 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 increased from 0.04x to 0.67x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1999-06-30 | AU$14.48 | AU$0.59 | x |
| 2000-06-30 | AU$13.76 | AU$0.59 | x |
| 2001-06-30 | AU$4.52 | AU$0.59 | x |
| 2002-06-30 | AU$1.84 | AU$0.59 | x |
| 2003-06-30 | AU$-0.39 | AU$0.59 | x |
| 2004-06-30 | AU$0.21 | AU$0.59 | x |
| 2005-06-30 | AU$0.02 | AU$0.59 | x |
| 2006-06-30 | AU$5.72 | AU$0.59 | x |
| 2007-06-30 | AU$2.63 | AU$0.59 | x |
| 2008-06-30 | AU$1.17 | AU$0.59 | x |
| 2009-06-30 | AU$0.54 | AU$0.59 | x |
| 2010-06-30 | AU$0.49 | AU$0.59 | x |
| 2011-06-30 | AU$0.37 | AU$0.59 | x |
| 2012-06-30 | AU$0.46 | AU$0.59 | x |
| 2013-06-30 | AU$0.45 | AU$0.59 | x |
| 2014-06-30 | AU$0.47 | AU$0.59 | x |
| 2015-06-30 | AU$0.52 | AU$0.59 | x |
| 2016-06-30 | AU$0.61 | AU$0.59 | x |
| 2017-06-30 | AU$0.72 | AU$0.59 | x |
| 2018-06-30 | AU$0.82 | AU$0.59 | x |
| 2019-06-30 | AU$0.80 | AU$0.59 | x |
| 2020-06-30 | AU$0.60 | AU$0.59 | x |
| 2021-06-30 | AU$0.70 | AU$0.59 | x |
| 2022-06-30 | AU$0.66 | AU$0.59 | x |
| 2023-06-30 | AU$0.69 | AU$0.59 | x |
| 2024-06-30 | AU$0.85 | AU$0.59 | x |
| 2025-06-30 | AU$0.88 | AU$0.59 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thorney Opportunities 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): 5.40%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 48.74%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 1.14x
- Recent ROE (5.40%) is above the historical average (-4.80%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1999 | 11.34% | 0.00% | 0.00x | 1.36x | AU$92.40K |
| 2000 | -6.08% | -1479.23% | 0.00x | 1.19x | AU$-1.06 Million |
| 2001 | 2.72% | 0.00% | 0.00x | 2.60x | AU$-157.66K |
| 2002 | 27.86% | 3.34% | 1.70x | 4.92x | AU$182.07K |
| 2003 | 0.00% | 1.05% | 3.02x | 0.00x | AU$162.08K |
| 2004 | 18.71% | 0.79% | 1.05x | 22.48x | AU$19.57K |
| 2005 | -1.21% | -0.20% | 0.15x | 38.21x | AU$-19.82K |
| 2006 | 0.12% | 0.66% | 0.16x | 1.15x | AU$-4.51 Million |
| 2007 | -30.03% | -48.20% | 0.32x | 1.92x | AU$-17.89 Million |
| 2008 | -113.00% | -83.26% | 0.58x | 2.34x | AU$-25.93 Million |
| 2009 | -122.83% | -62.74% | 0.78x | 2.50x | AU$-12.97 Million |
| 2010 | -11.41% | -12.01% | 0.62x | 1.54x | AU$-3.05 Million |
| 2011 | 3.89% | 3.50% | 0.72x | 1.55x | AU$-747.30K |
| 2012 | 19.17% | 1022.46% | 0.02x | 1.01x | AU$1.35 Million |
| 2013 | -3.86% | -98.59% | 0.04x | 1.00x | AU$-2.00 Million |
| 2014 | -3.40% | 0.00% | -0.01x | 1.03x | AU$-10.51 Million |
| 2015 | 10.69% | 82.24% | 0.12x | 1.09x | AU$600.94K |
| 2016 | 16.15% | 92.52% | 0.16x | 1.13x | AU$6.34 Million |
| 2017 | 16.63% | 66.40% | 0.23x | 1.11x | AU$8.05 Million |
| 2018 | 7.21% | 69.61% | 0.10x | 1.08x | AU$-4.31 Million |
| 2019 | 7.39% | 66.89% | 0.10x | 1.10x | AU$-4.26 Million |
| 2020 | -28.60% | 0.00% | -0.38x | 1.01x | AU$-47.13 Million |
| 2021 | 16.15% | 68.26% | 0.22x | 1.09x | AU$8.58 Million |
| 2022 | -2.88% | 0.00% | -0.02x | 1.02x | AU$-16.65 Million |
| 2023 | 8.16% | 82.11% | 0.10x | 1.04x | AU$-2.45 Million |
| 2024 | 22.00% | 60.91% | 0.31x | 1.17x | AU$19.10 Million |
| 2025 | 5.40% | 48.74% | 0.10x | 1.14x | AU$-7.27 Million |
Industry Comparison
This section compares Thorney Opportunities Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $589,126,514
- Average return on equity (ROE) among peers: -25.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thorney Opportunities Ltd (TOP) | AU$158.09 Million | 11.34% | 0.14x | $3.41K |
| Acorn Capital Investment Fund Ltd (ACQ) | $52.17 Million | 4.80% | 0.04x | $5.49K |
| Australian Ethical Investment Ltd (AEF) | $20.82 Million | 45.43% | 0.62x | $241.24 Million |
| Australian Foundation Investment Company Ltd (AFI) | $3.98 Billion | 4.62% | 0.15x | $5.08 Billion |
| Alternative Investment Trust (AIQ) | $281.69 Million | 15.05% | 0.96x | $8.06K |
| Argo Global Listed Infrastructure Ltd (ALI) | $320.48 Million | -2.91% | 0.03x | $13.82K |
| Amcil Ltd (AMH) | $128.23 Million | 0.00% | 0.02x | $137.06 Million |
| Associate Global Partners Ltd (APL) | $6.41 Million | -310.27% | 0.73x | $1.95 Million |
| Ariadne Australia Ltd (ARA) | $59.71 Million | 8.64% | 0.74x | $17.16 Million |
| ARC Funds Ltd (ARC) | $2.90 Million | -21.10% | 0.01x | $1.21 Million |
| Australian United Investment Company Ltd (AUI) | $1.04 Billion | 5.35% | 0.27x | $395.51 Million |