West African Resources Ltd (WAF) - Net Assets
Based on the latest financial reports, West African Resources Ltd (WAF) has net assets worth AU$1.46 Billion AUD (≈ $1.03 Billion 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$2.27 Billion ≈ $1.60 Billion USD) and total liabilities (AU$806.24 Million ≈ $570.47 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 WAF financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$1.46 Billion |
| % of Total Assets | 64.43% |
| Annual Growth Rate | 61.35% |
| 5-Year Change | 662.71% |
| 10-Year Change | 41088.63% |
| Growth Volatility | 135.72 |
West African Resources Ltd - Net Assets Trend (2007–2025)
This chart illustrates how West African Resources Ltd's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of West African Resources Ltd for the complete picture of this company's asset base.
Annual Net Assets for West African Resources Ltd (2007–2025)
The table below shows the annual net assets of West African Resources Ltd from 2007 to 2025. For live valuation and market cap data, see West African Resources Ltd (WAF) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$1.31 Billion ≈ $929.65 Million |
+45.05% |
| 2024-06-30 | AU$905.83 Million ≈ $640.93 Million |
+22.32% |
| 2023-06-30 | AU$740.57 Million ≈ $524.00 Million |
+33.58% |
| 2022-06-30 | AU$554.41 Million ≈ $392.28 Million |
+221.83% |
| 2021-06-30 | AU$172.26 Million ≈ $121.89 Million |
+132.07% |
| 2020-06-30 | AU$74.23 Million ≈ $52.52 Million |
-7.12% |
| 2019-06-30 | AU$79.92 Million ≈ $56.55 Million |
+101.20% |
| 2018-06-30 | AU$39.72 Million ≈ $28.10 Million |
+337.39% |
| 2017-06-30 | AU$9.08 Million ≈ $6.43 Million |
+184.68% |
| 2016-06-30 | AU$3.19 Million ≈ $2.26 Million |
+195.17% |
| 2015-06-30 | AU$-3.35 Million ≈ $-2.37 Million |
-234.86% |
| 2014-06-30 | AU$2.49 Million ≈ $1.76 Million |
-26.18% |
| 2013-06-30 | AU$3.37 Million ≈ $2.38 Million |
-10.05% |
| 2012-06-30 | AU$3.74 Million ≈ $2.65 Million |
-57.37% |
| 2011-06-30 | AU$8.78 Million ≈ $6.21 Million |
+54.90% |
| 2010-06-30 | AU$5.67 Million ≈ $4.01 Million |
+28436.40% |
| 2009-06-30 | AU$-20.00K ≈ $-14.15K |
+66.67% |
| 2008-06-30 | AU$-60.00K ≈ $-42.45K |
-125.10% |
| 2007-06-30 | AU$239.00K ≈ $169.11K |
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Equity Component Analysis
This analysis shows how different components contribute to West African Resources 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 grown by 71664300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$716.64 Million | 57.47% |
| Common Stock | AU$480.38 Million | 38.52% |
| Other Comprehensive Income | AU$49.97 Million | 4.01% |
| Total Equity | AU$1.25 Billion | 100.00% |
West African Resources Ltd Competitors by Market Cap
The table below lists competitors of West African Resources Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Browave
TWO:3163
|
$2.56 Billion |
|
Nyocor Co Ltd
SHG:600821
|
$2.57 Billion |
|
Enerflex Ltd.
NYSE:EFXT
|
$2.57 Billion |
|
Y.H. Dimri Construction & Development Ltd
TA:DIMRI
|
$2.57 Billion |
|
Bombardier Inc
TO:BBD-A
|
$2.56 Billion |
|
Clas Ohlson AB (publ)
ST:CLAS-B
|
$2.56 Billion |
|
Haemonetics Corporation
NYSE:HAE
|
$2.56 Billion |
|
Sime Darby Property Bhd
KLSE:5288
|
$2.56 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in West African Resources Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 861,204,000 to 1,246,984,000, a change of 385,780,000 (44.8%).
- Net income of 223,844,000 contributed positively to equity growth.
- Share repurchases of 5,237,000 reduced equity.
- New share issuances of 150,232,000 increased equity.
- Other comprehensive income increased equity by 19,293,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$223.84 Million | +17.95% |
| Share Repurchases | AU$5.24 Million | -0.42% |
| Share Issuances | AU$150.23 Million | +12.05% |
| Other Comprehensive Income | AU$19.29 Million | +1.55% |
| Other Changes | AU$-2.35 Million | -0.19% |
| Total Change | AU$- | 44.80% |
Book Value vs Market Value Analysis
This analysis compares West African Resources 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: 2.76x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 84.68x to 2.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-06-30 | AU$0.04 | AU$3.17 | x |
| 2011-06-30 | AU$0.06 | AU$3.17 | x |
| 2012-06-30 | AU$0.02 | AU$3.17 | x |
| 2013-06-30 | AU$0.02 | AU$3.17 | x |
| 2014-06-30 | AU$0.01 | AU$3.17 | x |
| 2015-06-30 | AU$-0.01 | AU$3.17 | x |
| 2016-06-30 | AU$0.01 | AU$3.17 | x |
| 2017-06-30 | AU$0.02 | AU$3.17 | x |
| 2018-06-30 | AU$0.07 | AU$3.17 | x |
| 2019-06-30 | AU$0.11 | AU$3.17 | x |
| 2020-06-30 | AU$0.09 | AU$3.17 | x |
| 2021-06-30 | AU$0.19 | AU$3.17 | x |
| 2022-06-30 | AU$0.58 | AU$3.17 | x |
| 2023-06-30 | AU$0.68 | AU$3.17 | x |
| 2024-06-30 | AU$0.84 | AU$3.17 | x |
| 2025-06-30 | AU$1.15 | AU$3.17 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently West African Resources Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.95%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 30.90%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 1.58x
- Recent ROE (17.95%) is above the historical average (-83.30%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | -31.56% | -6168.13% | 0.00x | 1.11x | AU$-2.36 Million |
| 2011 | -44.97% | -1925.64% | 0.02x | 1.03x | AU$-4.83 Million |
| 2012 | -145.43% | -2171.53% | 0.06x | 1.22x | AU$-5.82 Million |
| 2013 | -215.06% | -4784.79% | 0.04x | 1.19x | AU$-7.58 Million |
| 2014 | -564.74% | -25478.03% | 0.02x | 1.24x | AU$-14.29 Million |
| 2015 | 0.00% | -71447.57% | 0.00x | 0.00x | AU$-7.36 Million |
| 2016 | -244.69% | -22304.46% | 0.00x | 3.65x | AU$-8.12 Million |
| 2017 | -157.73% | -5580.84% | 0.02x | 1.22x | AU$-15.23 Million |
| 2018 | -64.39% | -5492.75% | 0.01x | 1.11x | AU$-29.23 Million |
| 2019 | -8.86% | -873.09% | 0.01x | 1.12x | AU$-15.06 Million |
| 2020 | -3.98% | -245.44% | 0.00x | 4.40x | AU$-10.68 Million |
| 2021 | 54.08% | 28.80% | 0.58x | 3.21x | AU$72.84 Million |
| 2022 | 35.99% | 26.56% | 0.88x | 1.53x | AU$136.46 Million |
| 2023 | 23.48% | 27.13% | 0.69x | 1.25x | AU$94.39 Million |
| 2024 | 17.05% | 22.29% | 0.54x | 1.42x | AU$60.75 Million |
| 2025 | 17.95% | 30.90% | 0.37x | 1.58x | AU$99.15 Million |
Industry Comparison
This section compares West African Resources Ltd's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $27,123,968
- Average return on equity (ROE) among peers: -86.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| West African Resources Ltd (WAF) | AU$1.46 Billion | -31.56% | 0.55x | $2.56 Billion |
| Australasian Metals Ltd (A8G) | $7.13 Million | -4.71% | 0.03x | $3.48 Million |
| Ariana Resources Plc (AA2) | $27.06 Million | 14.89% | 0.03x | $57.08 Million |
| Aruma Resources Ltd (AAJ) | $1.96 Million | -107.25% | 0.07x | $6.72 Million |
| Astral Resources NL (AAR) | $34.51 Million | -7.49% | 0.03x | $203.90 Million |
| Antilles Gold Ltd (AAU) | $7.59 Million | 0.06% | 0.33x | $24.27 Million |
| Adelong Gold Ltd (ADG) | $4.53 Million | -12.96% | 0.02x | $9.43 Million |
| Ardiden Ltd (ADV) | $1.30 Million | -752.46% | 0.85x | $61.58 Million |
| Australian Gold and Copper Ltd (AGC) | $-3.50K | 0.00% | 0.00x | $32.39 Million |
| Ark Mines Ltd (AHK) | $-3.15 Million | 0.00% | 0.00x | $17.40 Million |
| Alkane Resources Ltd (ALK) | $190.31 Million | 2.47% | 0.16x | $1.39 Billion |
About West African Resources Ltd
West African Resources Limited engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa. The company has 90% interests in the Sanbrado Gold project located in Burkina Faso; and Kiaka Gold project located in Burkina Faso. It also holds 100% owned exploration license in the Toega Gold Project located in Burkina Faso. The company wa… Read more