Wam Research Ltd

AU:WAX Australia Asset Management
Market Cap
$147.79 Million
AU$238.68 Million AUD
Market Cap Rank
#45588 Global
#1543 in Australia
Share Price
AU$1.15
Change (1 day)
+3.15%
52-Week Range
AU$1.11 - AU$1.35
All Time High
AU$1.43
Categories
Companies in Australia Asset Management Banking & Financial
About

WAM Research Limited is a closed-ended equity mutual fund launched and managed by MAM 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 benchmarks the performance of its portfolio against the S&P/ASX All Ordinaries Ac… Read more

Wam Research Ltd (WAX) - Net Assets

Latest net assets as of June 2025: AU$226.21 Million AUD

Based on the latest financial reports, Wam Research Ltd (WAX) has net assets worth AU$226.21 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$243.28 Million) and total liabilities (AU$17.07 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$226.21 Million
% of Total Assets 92.98%
Annual Growth Rate 1.66%
5-Year Change -4.0%
10-Year Change 8.35%
Growth Volatility 12.55

Wam Research Ltd - Net Assets Trend (2004–2025)

This chart illustrates how Wam Research 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 Wam Research Ltd (2004–2025)

The table below shows the annual net assets of Wam Research Ltd from 2004 to 2025.

Year Net Assets Change
2025-06-30 AU$226.21 Million +5.38%
2024-06-30 AU$214.66 Million +7.80%
2023-06-30 AU$199.14 Million +0.16%
2022-06-30 AU$198.83 Million -15.62%
2021-06-30 AU$235.63 Million +18.53%
2020-06-30 AU$198.80 Million -10.45%
2019-06-30 AU$222.00 Million -5.54%
2018-06-30 AU$235.02 Million +4.63%
2017-06-30 AU$224.62 Million +7.59%
2016-06-30 AU$208.77 Million +12.14%
2015-06-30 AU$186.17 Million +25.32%
2014-06-30 AU$148.56 Million +22.02%
2013-06-30 AU$121.75 Million +12.51%
2012-06-30 AU$108.22 Million -2.89%
2011-06-30 AU$111.44 Million +6.20%
2010-06-30 AU$104.94 Million -2.33%
2009-06-30 AU$107.44 Million -6.62%
2008-06-30 AU$115.06 Million -26.79%
2007-06-30 AU$157.16 Million +13.58%
2006-06-30 AU$138.37 Million -4.51%
2005-06-30 AU$144.89 Million -9.40%
2004-06-30 AU$159.93 Million --

Equity Component Analysis

This analysis shows how different components contribute to Wam Research 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 194.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (June 2025)

Component Amount Percentage
Common Stock AU$228.96 Million 101.22%
Other Comprehensive Income AU$-7.49K 0.00%
Total Equity AU$226.21 Million 100.00%

Wam Research Ltd Competitors by Market Cap

The table below lists competitors of Wam Research Ltd ranked by their market capitalization.

Company Market Cap
Cleantech Biofuels Inc
PINK:CLTH
 		$6.71K
Natac Natural Ingredients, S.A.
MC:NAT
 		$6.71K
ICBC-H - Dusseldorf Stock Exchang
DU:ICK
 		$6.71K
Foreveren
WAR:FOR
 		$6.71K
GENEL ENERGY (4VL.SG)
STU:4VL
 		$6.70K
Jungo Connectivity Ltd
TA:JNGO
 		$6.69K
Elpitiya Plantations PLC
CM:ELPLN0000
 		$6.68K
HUANENG POWER -H-
MU:HUP1
 		$6.68K

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Wam Research Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 214,664,486 to 226,209,496, a change of 11,545,010 (5.4%).
  • Net income of 28,486,073 contributed positively to equity growth.
  • Dividend payments of 17,232,150 reduced retained earnings.
  • Other comprehensive income decreased equity by 67,063,292.
  • Other factors increased equity by 67,354,379.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income AU$28.49 Million +12.59%
Dividends Paid AU$17.23 Million -7.62%
Other Comprehensive Income AU$-67.06 Million -29.65%
Other Changes AU$67.35 Million +29.78%
Total Change AU$- 5.38%

Book Value vs Market Value Analysis

This analysis compares Wam Research 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 1.42x 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
2004-06-30 AU$0.80 AU$1.15 x
2005-06-30 AU$0.73 AU$1.15 x
2006-06-30 AU$0.70 AU$1.15 x
2007-06-30 AU$0.79 AU$1.15 x
2008-06-30 AU$0.58 AU$1.15 x
2009-06-30 AU$0.54 AU$1.15 x
2010-06-30 AU$0.53 AU$1.15 x
2011-06-30 AU$0.56 AU$1.15 x
2012-06-30 AU$0.54 AU$1.15 x
2013-06-30 AU$0.61 AU$1.15 x
2014-06-30 AU$0.75 AU$1.15 x
2015-06-30 AU$0.94 AU$1.15 x
2016-06-30 AU$1.05 AU$1.15 x
2017-06-30 AU$1.13 AU$1.15 x
2018-06-30 AU$1.18 AU$1.15 x
2019-06-30 AU$1.12 AU$1.15 x
2020-06-30 AU$1.00 AU$1.15 x
2021-06-30 AU$1.18 AU$1.15 x
2022-06-30 AU$1.00 AU$1.15 x
2023-06-30 AU$1.00 AU$1.15 x
2024-06-30 AU$1.06 AU$1.15 x
2025-06-30 AU$1.10 AU$1.15 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Wam Research 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): 12.59%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 61.56%
  • • Asset Turnover: 0.19x
  • • Equity Multiplier: 1.08x
  • Recent ROE (12.59%) is above the historical average (6.58%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2004 2.82% 56.60% 0.05x 1.03x AU$-11.49 Million
2005 3.32% 59.69% 0.05x 1.03x AU$-9.68 Million
2006 4.01% 65.89% 0.06x 1.04x AU$-8.29 Million
2007 4.77% 70.39% 0.06x 1.09x AU$-8.22 Million
2008 5.60% 60.14% 0.09x 1.00x AU$-5.06 Million
2009 1.93% 34.83% 0.06x 1.00x AU$-8.67 Million
2010 3.81% 74.56% 0.05x 1.01x AU$-6.49 Million
2011 8.45% 17.99% 0.46x 1.02x AU$-1.73 Million
2012 1.81% 2.64% 0.67x 1.02x AU$-8.87 Million
2013 13.70% 16.90% 0.79x 1.03x AU$4.51 Million
2014 10.65% 68.33% 0.15x 1.06x AU$961.02K
2015 10.45% 67.87% 0.14x 1.07x AU$846.29K
2016 12.53% 67.99% 0.17x 1.10x AU$5.28 Million
2017 6.94% 67.46% 0.10x 1.02x AU$-6.87 Million
2018 9.19% 68.10% 0.13x 1.06x AU$-1.90 Million
2019 0.73% 52.72% 0.01x 1.04x AU$-20.59 Million
2020 -3.94% 0.00% -0.05x 1.04x AU$-27.72 Million
2021 22.19% 63.51% 0.31x 1.12x AU$28.72 Million
2022 -10.41% 0.00% -0.14x 1.03x AU$-40.58 Million
2023 8.46% 65.35% 0.13x 1.02x AU$-3.06 Million
2024 15.13% 59.86% 0.23x 1.09x AU$11.00 Million
2025 12.59% 61.56% 0.19x 1.08x AU$5.87 Million

Industry Comparison

This section compares Wam Research 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
Wam Research Ltd (WAX) AU$226.21 Million 2.82% 0.08x $6.70K
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