WAM Capital Ltd (WAM) - Net Assets
Based on the latest financial reports, WAM Capital Ltd (WAM) has net assets worth AU$1.82 Billion AUD (≈ $1.29 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$1.86 Billion ≈ $1.32 Billion USD) and total liabilities (AU$41.32 Million ≈ $29.23 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 WAM Capital Ltd asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$1.82 Billion |
| % of Total Assets | 97.78% |
| Annual Growth Rate | 19.22% |
| 5-Year Change | 10.52% |
| 10-Year Change | 113.47% |
| Growth Volatility | 39.31 |
WAM Capital Ltd - Net Assets Trend (2000–2025)
This chart illustrates how WAM Capital Ltd's net assets have evolved over time, based on quarterly financial data. Also explore WAM total asset value for the complete picture of this company's asset base.
Annual Net Assets for WAM Capital Ltd (2000–2025)
The table below shows the annual net assets of WAM Capital Ltd from 2000 to 2025. For live valuation and market cap data, see WAM Capital Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$1.88 Billion ≈ $1.33 Billion |
+3.66% |
| 2024-06-30 | AU$1.81 Billion ≈ $1.28 Billion |
+4.48% |
| 2023-06-30 | AU$1.73 Billion ≈ $1.23 Billion |
+1.48% |
| 2022-06-30 | AU$1.71 Billion ≈ $1.21 Billion |
+0.56% |
| 2021-06-30 | AU$1.70 Billion ≈ $1.20 Billion |
+38.92% |
| 2020-06-30 | AU$1.22 Billion ≈ $864.42 Million |
-9.13% |
| 2019-06-30 | AU$1.34 Billion ≈ $951.26 Million |
+1.55% |
| 2018-06-30 | AU$1.32 Billion ≈ $936.70 Million |
+8.97% |
| 2017-06-30 | AU$1.21 Billion ≈ $859.62 Million |
+38.25% |
| 2016-06-30 | AU$878.75 Million ≈ $621.77 Million |
+8.96% |
| 2015-06-30 | AU$806.50 Million ≈ $570.65 Million |
+35.26% |
| 2014-06-30 | AU$596.25 Million ≈ $421.89 Million |
+22.50% |
| 2013-06-30 | AU$486.74 Million ≈ $344.40 Million |
+191.08% |
| 2012-06-30 | AU$167.22 Million ≈ $118.32 Million |
-2.41% |
| 2011-06-30 | AU$171.35 Million ≈ $121.24 Million |
+7.94% |
| 2010-06-30 | AU$158.75 Million ≈ $112.32 Million |
+12.44% |
| 2009-06-30 | AU$141.18 Million ≈ $99.89 Million |
-5.83% |
| 2008-06-30 | AU$149.92 Million ≈ $106.08 Million |
-8.52% |
| 2007-06-30 | AU$163.88 Million ≈ $115.96 Million |
+53.82% |
| 2006-06-30 | AU$106.54 Million ≈ $75.39 Million |
+12.39% |
| 2005-06-30 | AU$94.80 Million ≈ $67.08 Million |
+19.92% |
| 2004-06-30 | AU$79.05 Million ≈ $55.94 Million |
+33.14% |
| 2003-06-30 | AU$59.38 Million ≈ $42.01 Million |
+38.04% |
| 2002-06-30 | AU$43.01 Million ≈ $30.43 Million |
+66.09% |
| 2001-06-30 | AU$25.90 Million ≈ $18.32 Million |
+11.92% |
| 2000-06-30 | AU$23.14 Million ≈ $16.37 Million |
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Equity Component Analysis
This analysis shows how different components contribute to WAM Capital 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 53969921200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$2.20 Billion | 117.55% |
| Other Comprehensive Income | AU$210.54 Million | 11.22% |
| Total Equity | AU$1.88 Billion | 100.00% |
WAM Capital Ltd Competitors by Market Cap
The table below lists competitors of WAM Capital Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chengdu Spaceon Electronics Co Ltd Class A
SHE:002935
|
$1.40 Billion |
|
M. Dias Branco S.A. Indústria e Comércio de Alimentos
SA:MDIA3
|
$1.40 Billion |
|
Xior Student Housing NV
BR:XIOR
|
$1.40 Billion |
|
IRB Infrastructure Developers Limited
NSE:IRB
|
$1.40 Billion |
|
EIS Eczacibasi Ilac Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS
IS:ECILC
|
$1.40 Billion |
|
Mirae Asset Life Insurance Co Ltd
KO:085620
|
$1.40 Billion |
|
Premier Investments Ltd
AU:PMV
|
$1.40 Billion |
|
Sinocare Inc
SHE:300298
|
$1.40 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in WAM Capital Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,809,578,816 to 1,875,832,604, a change of 66,253,788 (3.7%).
- Net income of 219,631,523 contributed positively to equity growth.
- Dividend payments of 153,377,735 reduced retained earnings.
- Other comprehensive income increased equity by 46,562,907.
- Other factors decreased equity by 46,562,907.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$219.63 Million | +11.71% |
| Dividends Paid | AU$153.38 Million | -8.18% |
| Other Comprehensive Income | AU$46.56 Million | +2.48% |
| Other Changes | AU$-46.56 Million | -2.48% |
| Total Change | AU$- | 3.66% |
Book Value vs Market Value Analysis
This analysis compares WAM Capital 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: 1.04x
- 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 64.47x to 1.04x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1999-06-30 | AU$0.03 | AU$1.75 | x |
| 2000-06-30 | AU$0.03 | AU$1.75 | x |
| 2001-06-30 | AU$0.04 | AU$1.75 | x |
| 2002-06-30 | AU$0.06 | AU$1.75 | x |
| 2003-06-30 | AU$0.08 | AU$1.75 | x |
| 2004-06-30 | AU$1.22 | AU$1.75 | x |
| 2005-06-30 | AU$1.47 | AU$1.75 | x |
| 2006-06-30 | AU$1.53 | AU$1.75 | x |
| 2007-06-30 | AU$2.16 | AU$1.75 | x |
| 2008-06-30 | AU$1.42 | AU$1.75 | x |
| 2009-06-30 | AU$1.36 | AU$1.75 | x |
| 2010-06-30 | AU$1.51 | AU$1.75 | x |
| 2011-06-30 | AU$1.61 | AU$1.75 | x |
| 2012-06-30 | AU$1.58 | AU$1.75 | x |
| 2013-06-30 | AU$2.70 | AU$1.75 | x |
| 2014-06-30 | AU$1.81 | AU$1.75 | x |
| 2015-06-30 | AU$2.14 | AU$1.75 | x |
| 2016-06-30 | AU$1.90 | AU$1.75 | x |
| 2017-06-30 | AU$2.08 | AU$1.75 | x |
| 2018-06-30 | AU$2.04 | AU$1.75 | x |
| 2019-06-30 | AU$1.92 | AU$1.75 | x |
| 2020-06-30 | AU$1.69 | AU$1.75 | x |
| 2021-06-30 | AU$2.15 | AU$1.75 | x |
| 2022-06-30 | AU$1.82 | AU$1.75 | x |
| 2023-06-30 | AU$1.58 | AU$1.75 | x |
| 2024-06-30 | AU$1.63 | AU$1.75 | x |
| 2025-06-30 | AU$1.68 | AU$1.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently WAM Capital 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): 11.71%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 67.80%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.08x
- Recent ROE (11.71%) is above the historical average (8.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 19.86% | 9.31% | 1.72x | 1.24x | AU$2.28 Million |
| 2001 | 18.28% | 8.06% | 1.77x | 1.28x | AU$2.14 Million |
| 2002 | 13.72% | 7.74% | 1.43x | 1.24x | AU$1.60 Million |
| 2003 | 6.64% | 270.49% | 0.02x | 1.10x | AU$-2.00 Million |
| 2004 | 20.39% | 136.20% | 0.14x | 1.11x | AU$8.21 Million |
| 2005 | 8.63% | 55.99% | 0.14x | 1.09x | AU$-1.30 Million |
| 2006 | 16.93% | 97.94% | 0.16x | 1.09x | AU$7.39 Million |
| 2007 | 20.75% | 105.09% | 0.17x | 1.14x | AU$17.62 Million |
| 2008 | -21.09% | -351.54% | 0.06x | 1.04x | AU$-46.61 Million |
| 2009 | -2.89% | 0.00% | -0.10x | 1.05x | AU$-18.20 Million |
| 2010 | 15.36% | 84.25% | 0.17x | 1.09x | AU$8.51 Million |
| 2011 | 11.88% | 69.06% | 0.16x | 1.06x | AU$3.22 Million |
| 2012 | 2.58% | 33.12% | 0.07x | 1.08x | AU$-12.41 Million |
| 2013 | 9.08% | 100.14% | 0.09x | 1.03x | AU$-4.46 Million |
| 2014 | 11.45% | 89.44% | 0.12x | 1.10x | AU$8.66 Million |
| 2015 | 6.69% | 84.56% | 0.07x | 1.07x | AU$-26.66 Million |
| 2016 | 11.15% | 68.55% | 0.15x | 1.11x | AU$10.12 Million |
| 2017 | 5.67% | 105.16% | 0.05x | 1.07x | AU$-52.58 Million |
| 2018 | 9.47% | 86.75% | 0.10x | 1.06x | AU$-6.99 Million |
| 2019 | 1.08% | 69.84% | 0.01x | 1.03x | AU$-119.91 Million |
| 2020 | -2.19% | 0.00% | -0.04x | 1.05x | AU$-148.88 Million |
| 2021 | 15.71% | 74.50% | 0.20x | 1.07x | AU$96.89 Million |
| 2022 | -17.21% | 0.00% | -0.23x | 1.03x | AU$-464.37 Million |
| 2023 | 10.01% | 69.11% | 0.14x | 1.03x | AU$99.26K |
| 2024 | 12.67% | 66.76% | 0.18x | 1.07x | AU$48.27 Million |
| 2025 | 11.71% | 67.80% | 0.16x | 1.08x | AU$32.05 Million |
Industry Comparison
This section compares WAM Capital Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $865,739,820
- Average return on equity (ROE) among peers: -1.38%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| WAM Capital Ltd (WAM) | AU$1.82 Billion | 19.86% | 0.02x | $1.40 Billion |
| Acorn Capital Investment Fund Ltd (ACQ) | $100.23 Million | -16.95% | 0.04x | $56.90 Million |
| Australian Ethical Investment Ltd (AEF) | $8.06 Million | 12.70% | 0.38x | $339.89 Million |
| Australian Foundation Investment Company Ltd (AFI) | $2.01 Billion | 5.14% | 0.13x | $5.78 Billion |
| Alternative Investment Trust (AIQ) | $27.34 Million | 10.56% | 0.00x | $34.17 Million |
| Argo Global Listed Infrastructure Ltd (ALI) | $351.16 Million | 5.35% | 0.03x | $299.38 Million |
| Amcil Ltd (AMH) | $320.20 Million | 2.36% | 0.09x | $201.05 Million |
| Associate Global Partners Ltd (APL) | $8.90 Million | -7.21% | 0.48x | $11.51 Million |
| Ariadne Australia Ltd (ARA) | $181.92 Million | 8.41% | 0.05x | $66.00 Million |
| ARC Funds Ltd (ARC) | $5.68 Million | -37.27% | 0.47x | $3.81 Million |
| Argo Investments Ltd (ARG) | $5.64 Billion | 3.08% | 0.17x | $4.72 Billion |
About WAM Capital Ltd
WAM Capital Limited is a close-ended equity mutual fund launched and managed by Wilson Asset Management (International) Pty Limited. The fund invests in public equity markets of Australia. It makes its investments in companies primarily engaged in the industrial sector. The fund invests in value and growth stocks of small to medium-cap companies. It seeks to invest in short-term arbitrage and mis… Read more