Vicinity Centres Net Assets
Vicinity Centres net assets. Based on the latest financial reports, Vicinity Centres (VCX) has net assets worth AU$11.75 Billion AUD (≈ $8.31 Billion 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$16.93 Billion ≈ $11.98 Billion USD) and total liabilities (AU$5.19 Billion ≈ $3.67 Billion 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 Vicinity Centres (VCX) equity growth momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$11.75 Billion |
| % of Total Assets | 69.36% |
| Annual Growth Rate | 13.46% |
| 5-Year Change | 11.13% |
| 10-Year Change | 2.57% |
| Growth Volatility | 88.92 |
Net Assets of Vicinity Centres (2006–2025)
Net assets of Vicinity Centres from 2006 to 2025. This chart illustrates how Vicinity Centres's net assets have evolved over time, based on quarterly financial data. See Vicinity Centres balance sheet quality to measure how much of total assets are equity-financed.
Annual Net Assets for Vicinity Centres (2006–2025)
The table below shows the annual net assets of Vicinity Centres from 2006 to 2025. For live market cap and overall valuation, see market value of Vicinity Centres.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$11.13 Billion ≈ $7.87 Billion |
+4.60% |
| 2024-06-30 | AU$10.64 Billion ≈ $7.53 Billion |
+0.01% |
| 2023-06-30 | AU$10.64 Billion ≈ $7.53 Billion |
-2.27% |
| 2022-06-30 | AU$10.89 Billion ≈ $7.70 Billion |
+8.70% |
| 2021-06-30 | AU$10.01 Billion ≈ $7.09 Billion |
-5.17% |
| 2020-06-30 | AU$10.56 Billion ≈ $7.47 Billion |
-8.88% |
| 2019-06-30 | AU$11.59 Billion ≈ $8.20 Billion |
-4.28% |
| 2018-06-30 | AU$12.11 Billion ≈ $8.57 Billion |
+3.06% |
| 2017-06-30 | AU$11.75 Billion ≈ $8.31 Billion |
+8.28% |
| 2016-06-30 | AU$10.85 Billion ≈ $7.68 Billion |
+2.39% |
| 2015-06-30 | AU$10.60 Billion ≈ $7.50 Billion |
+195.19% |
| 2014-06-30 | AU$3.59 Billion ≈ $2.54 Billion |
+6.73% |
| 2013-06-30 | AU$3.36 Billion ≈ $2.38 Billion |
+0.46% |
| 2012-06-30 | AU$3.35 Billion ≈ $2.37 Billion |
-0.12% |
| 2011-06-30 | AU$3.35 Billion ≈ $2.37 Billion |
+335.26% |
| 2010-06-30 | AU$770.07 Million ≈ $544.87 Million |
+11.47% |
| 2009-06-30 | AU$690.81 Million ≈ $488.79 Million |
-76.12% |
| 2008-06-30 | AU$2.89 Billion ≈ $2.05 Billion |
+33.72% |
| 2007-06-30 | AU$2.16 Billion ≈ $1.53 Billion |
+114.14% |
| 2006-06-30 | AU$1.01 Billion ≈ $714.74 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Vicinity Centres'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 grown by 1044.3% over the analyzed period, indicating profitable operations and earnings retention.
Vicinity Centres Net Assets Breakdown (June 2025)
Vicinity Centres net assets breakdown by equity component as of June 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$1.99 Billion | 17.87% |
| Common Stock | AU$9.13 Billion | 82.01% |
| Other Comprehensive Income | AU$13.80 Million | 0.12% |
| Total Equity | AU$11.13 Billion | 100.00% |
Vicinity Centres Competitors by Market Cap
The table below lists competitors of Vicinity Centres ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Full Truck Alliance Co Ltd ADR
NYSE:YMM
|
$7.98 Billion |
|
Oil India Limited
NSE:OIL
|
$7.99 Billion |
|
Pentair plc
F:PNT
|
$7.99 Billion |
|
Evonik Industries AG
F:EVK
|
$7.99 Billion |
|
The Hanover Insurance Group Inc
NYSE:THG
|
$7.98 Billion |
|
Shandong Hi-speed Co Ltd
SHG:600350
|
$7.97 Billion |
|
Praxis Precision Medicines Inc
NASDAQ:PRAX
|
$7.97 Billion |
|
Itissalat Al-Maghrib (IAM) S.A
F:MSPA
|
$7.96 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vicinity Centres's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,638,900,000 to 11,127,900,000, a change of 489,000,000 (4.6%).
- Net income of 1,004,600,000 contributed positively to equity growth.
- Dividend payments of 516,100,000 reduced retained earnings.
- Share repurchases of 8,199,999 reduced equity.
- Other comprehensive income increased equity by 500,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$1.00 Billion | +9.03% |
| Dividends Paid | AU$516.10 Million | -4.64% |
| Share Repurchases | AU$8.20 Million | -0.07% |
| Other Comprehensive Income | AU$500.00K | +0.0% |
| Other Changes | AU$8.20 Million | +0.07% |
| Total Change | AU$- | 4.60% |
Book Value vs Market Value Analysis
This analysis compares Vicinity Centres'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: 1.00x
- 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 0.21x to 1.00x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-06-30 | AU$11.72 | AU$2.43 | x |
| 2007-06-30 | AU$16.92 | AU$2.43 | x |
| 2008-06-30 | AU$7.90 | AU$2.43 | x |
| 2009-06-30 | AU$1.58 | AU$2.43 | x |
| 2010-06-30 | AU$1.77 | AU$2.43 | x |
| 2011-06-30 | AU$0.74 | AU$2.43 | x |
| 2012-06-30 | AU$0.74 | AU$2.43 | x |
| 2013-06-30 | AU$0.74 | AU$2.43 | x |
| 2014-06-30 | AU$0.79 | AU$2.43 | x |
| 2015-06-30 | AU$2.33 | AU$2.43 | x |
| 2016-06-30 | AU$2.74 | AU$2.43 | x |
| 2017-06-30 | AU$2.58 | AU$2.43 | x |
| 2018-06-30 | AU$2.66 | AU$2.43 | x |
| 2019-06-30 | AU$2.55 | AU$2.43 | x |
| 2020-06-30 | AU$2.32 | AU$2.43 | x |
| 2021-06-30 | AU$2.20 | AU$2.43 | x |
| 2022-06-30 | AU$2.39 | AU$2.43 | x |
| 2023-06-30 | AU$2.33 | AU$2.43 | x |
| 2024-06-30 | AU$2.33 | AU$2.43 | x |
| 2025-06-30 | AU$2.44 | AU$2.43 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vicinity Centres 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): 9.03%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 76.00%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.47x
- Recent ROE (9.03%) is above the historical average (-15.08%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 22.78% | 232.26% | 0.04x | 2.32x | AU$127.90 Million |
| 2007 | 12.38% | 281.06% | 0.03x | 1.72x | AU$51.24 Million |
| 2008 | -30.09% | -876.35% | 0.02x | 1.69x | AU$-1.16 Billion |
| 2009 | -391.00% | -2439.73% | 0.04x | 4.27x | AU$-2.75 Billion |
| 2010 | 14.81% | 136.73% | 0.03x | 3.40x | AU$36.77 Million |
| 2011 | 7.58% | 139.04% | 0.03x | 1.65x | AU$-81.17 Million |
| 2012 | -6.66% | -77.74% | 0.06x | 1.52x | AU$-557.66 Million |
| 2013 | 6.32% | 42.46% | 0.10x | 1.56x | AU$-123.65 Million |
| 2014 | 12.29% | 84.86% | 0.10x | 1.46x | AU$82.38 Million |
| 2015 | 6.37% | 77.70% | 0.06x | 1.48x | AU$-384.46 Million |
| 2016 | 8.86% | 71.93% | 0.08x | 1.46x | AU$-124.00 Million |
| 2017 | 13.48% | 119.09% | 0.08x | 1.42x | AU$408.83 Million |
| 2018 | 10.07% | 89.47% | 0.08x | 1.44x | AU$7.95 Million |
| 2019 | 2.99% | 26.51% | 0.08x | 1.47x | AU$-812.81 Million |
| 2020 | -17.06% | -148.07% | 0.08x | 1.44x | AU$-2.86 Billion |
| 2021 | -2.56% | -23.11% | 0.08x | 1.43x | AU$-1.26 Billion |
| 2022 | 11.16% | 102.77% | 0.08x | 1.43x | AU$126.69 Million |
| 2023 | 2.55% | 22.06% | 0.08x | 1.46x | AU$-792.31 Million |
| 2024 | 5.14% | 41.70% | 0.08x | 1.48x | AU$-516.79 Million |
| 2025 | 9.03% | 76.00% | 0.08x | 1.47x | AU$-108.19 Million |
Industry Comparison
This section compares Vicinity Centres's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $6,378,499,286
- Average return on equity (ROE) among peers: 8.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vicinity Centres (VCX) | AU$11.75 Billion | 22.78% | 0.44x | $7.98 Billion |
| Carindale Property Trust (CDP) | $526.65 Million | 12.63% | 0.52x | $319.05 Million |
| Charter Hall Retail REIT (CQR) | $117.24 Million | 0.65% | 0.64x | $1.53 Billion |
| Dexus Convenience Retail REIT (DXC) | $215.50 Million | 2.49% | 0.43x | $610.38 Million |
| Homeco Daily Needs REIT (HDN) | $3.08 Billion | 3.32% | 0.57x | $1.66 Billion |
| Region Group (RGN) | $1.72 Billion | 10.18% | 0.57x | $1.88 Billion |
| Scentre Group (SCG) | $19.75 Billion | 15.14% | 0.72x | $13.19 Billion |
| Unibail-Rodamco-Westfield (URW) | $19.24 Billion | 12.13% | 0.98x | $16.52 Billion |
About Vicinity Centres
Vicinity Centres (Vicinity or the Group) is one of Australia's leading retail property groups. With a fully integrated asset management platform, and 25 billion dollars in retail assets under management across 49 shopping centres, making it the second largest listed manager of Australian retail property. The Group has a Direct Portfolio with interests in 48 shopping centres (including the DFO Bri… Read more