Thorney Opportunities Ltd (TOP) - Net Assets

Latest as of June 2025: AU$158.09 Million AUD ≈ $111.86 Million USD

Based on the latest financial reports, Thorney Opportunities Ltd (TOP) has net assets worth AU$158.09 Million AUD (≈ $111.86 Million USD) 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 ≈ $127.29 Million USD) and total liabilities (AU$21.80 Million ≈ $15.43 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 TOP financial resilience to evaluate the company's liquid asset resilience ratio.

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. Also explore Thorney Opportunities Ltd asset portfolio for the complete picture of this company's asset base.

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. For live valuation and market cap data, see Thorney Opportunities Ltd market cap and net worth.

Year	Net Assets	Change
2025-06-30	AU$158.09 Million ≈ $111.86 Million	-0.72%
2024-06-30	AU$159.24 Million ≈ $112.67 Million	+19.68%
2023-06-30	AU$133.06 Million ≈ $94.15 Million	+2.90%
2022-06-30	AU$129.30 Million ≈ $91.49 Million	-7.30%
2021-06-30	AU$139.49 Million ≈ $98.70 Million	+14.25%
2020-06-30	AU$122.09 Million ≈ $86.39 Million	-25.10%
2019-06-30	AU$163.02 Million ≈ $115.35 Million	+5.75%
2018-06-30	AU$154.15 Million ≈ $109.07 Million	+26.98%
2017-06-30	AU$121.40 Million ≈ $85.90 Million	+17.85%
2016-06-30	AU$103.01 Million ≈ $72.89 Million	+17.43%
2015-06-30	AU$87.73 Million ≈ $62.07 Million	+11.88%
2014-06-30	AU$78.41 Million ≈ $55.48 Million	+442.97%
2013-06-30	AU$14.44 Million ≈ $10.22 Million	-1.92%
2012-06-30	AU$14.72 Million ≈ $10.42 Million	+20.35%
2011-06-30	AU$12.23 Million ≈ $8.66 Million	-14.19%
2010-06-30	AU$14.26 Million ≈ $10.09 Million	+46.04%
2009-06-30	AU$9.76 Million ≈ $6.91 Million	-53.70%
2008-06-30	AU$21.08 Million ≈ $14.92 Million	-52.84%
2007-06-30	AU$44.70 Million ≈ $31.63 Million	-2.14%
2006-06-30	AU$45.68 Million ≈ $32.32 Million	+24432.32%
2005-06-30	AU$186.19K ≈ $131.74K	-36.35%
2004-06-30	AU$292.50K ≈ $206.96K	-24.65%
2003-06-30	AU$388.18K ≈ $274.66K	-72.02%
2002-06-30	AU$1.39 Million ≈ $981.59K	-50.80%
2001-06-30	AU$2.82 Million ≈ $2.00 Million	-57.05%
2000-06-30	AU$6.56 Million ≈ $4.65 Million	-4.52%
1999-06-30	AU$6.88 Million ≈ $4.87 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
Careium AB ST:CARE	$61.52 Million
Outset Medical Inc NASDAQ:OM	$61.59 Million
Seafco Public Company Limited BK:SEAFCO	$61.59 Million
Bactiguard Holding AB (publ) ST:BACTI-B	$61.64 Million
IZEA Inc NASDAQ:IZEA	$61.48 Million
S Chand And Company Limited NSE:SCHAND	$61.47 Million
Agripure Holdings Public Company Limited BK:APURE	$61.43 Million
Humasis Co. Ltd KQ:205470	$61.42 Million

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: 0.58x
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 0.58x 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$0.51	x
2000-06-30	AU$13.76	AU$0.51	x
2001-06-30	AU$4.52	AU$0.51	x
2002-06-30	AU$1.84	AU$0.51	x
2003-06-30	AU$-0.39	AU$0.51	x
2004-06-30	AU$0.21	AU$0.51	x
2005-06-30	AU$0.02	AU$0.51	x
2006-06-30	AU$5.72	AU$0.51	x
2007-06-30	AU$2.63	AU$0.51	x
2008-06-30	AU$1.17	AU$0.51	x
2009-06-30	AU$0.54	AU$0.51	x
2010-06-30	AU$0.49	AU$0.51	x
2011-06-30	AU$0.37	AU$0.51	x
2012-06-30	AU$0.46	AU$0.51	x
2013-06-30	AU$0.45	AU$0.51	x
2014-06-30	AU$0.47	AU$0.51	x
2015-06-30	AU$0.52	AU$0.51	x
2016-06-30	AU$0.61	AU$0.51	x
2017-06-30	AU$0.72	AU$0.51	x
2018-06-30	AU$0.82	AU$0.51	x
2019-06-30	AU$0.80	AU$0.51	x
2020-06-30	AU$0.60	AU$0.51	x
2021-06-30	AU$0.70	AU$0.51	x
2022-06-30	AU$0.66	AU$0.51	x
2023-06-30	AU$0.69	AU$0.51	x
2024-06-30	AU$0.85	AU$0.51	x
2025-06-30	AU$0.88	AU$0.51	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: $718,320,473
Average return on equity (ROE) among peers: -14.88%

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	$61.51 Million
Acorn Capital Investment Fund Ltd (ACQ)	$61.32 Million	3.33%	0.06x	$57.22 Million
Australian Ethical Investment Ltd (AEF)	$4.32 Million	8.17%	0.21x	$314.92 Million
Australian Foundation Investment Company Ltd (AFI)	$838.34 Million	5.86%	0.13x	$5.89 Billion
Alternative Investment Trust (AIQ)	$18.14 Million	8.58%	0.01x	$33.32 Million
Argo Global Listed Infrastructure Ltd (ALI)	$301.56 Million	5.39%	0.03x	$298.12 Million
Amcil Ltd (AMH)	$225.89 Million	3.40%	0.07x	$206.63 Million
Associate Global Partners Ltd (APL)	$7.55 Million	-115.52%	0.29x	$11.51 Million
Ariadne Australia Ltd (ARA)	$76.70 Million	6.78%	0.13x	$66.00 Million
ARC Funds Ltd (ARC)	$4.95 Million	-77.91%	0.59x	$3.65 Million
Argo Investments Ltd (ARG)	$5.64 Billion	3.08%	0.17x	$4.70 Billion

About Thorney Opportunities Ltd

AU:TOP Australia Asset Management

Market Cap

$61.51 Million

AU$86.93 Million AUD

Market Cap Rank

#21073 Global

#743 in Australia

Share Price

AU$0.51

Change (1 day)

-2.86%

52-Week Range

AU$0.50 - AU$0.70

All Time High

AU$0.70