Wam Microcap Ltd
WAM Microcap 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 invests in stocks of companies operating across diversified sectors. The fund invests in value and growth stocks of micro-cap companies with a market capitalization of less than $300 million. It employs fundamental and quantitative analysis … Read more
Wam Microcap Ltd (WMI) - Net Assets
Latest net assets as of June 2025: AU$394.87 Million AUD
Based on the latest financial reports, Wam Microcap Ltd (WMI) has net assets worth AU$394.87 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$411.54 Million) and total liabilities (AU$16.67 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$394.87 Million |
| % of Total Assets | 95.95% |
| Annual Growth Rate | 38.57% |
| 5-Year Change | 20.52% |
| 10-Year Change | 4108.81% |
| Growth Volatility | 484.66 |
Wam Microcap Ltd - Net Assets Trend (2014–2025)
This chart illustrates how Wam Microcap 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 Microcap Ltd (2014–2025)
The table below shows the annual net assets of Wam Microcap Ltd from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | AU$394.87 Million | +4.70% |
| 2024-06-30 | AU$377.15 Million | +36.74% |
| 2023-06-30 | AU$275.82 Million | +2.84% |
| 2022-06-30 | AU$268.21 Million | -18.14% |
| 2021-06-30 | AU$327.63 Million | +80.58% |
| 2020-06-30 | AU$181.43 Million | +1.11% |
| 2019-06-30 | AU$179.44 Million | -0.46% |
| 2018-06-30 | AU$180.26 Million | +1693.49% |
| 2017-06-30 | AU$10.05 Million | +7.13% |
| 2016-06-30 | AU$9.38 Million | -1.10% |
| 2015-06-30 | AU$9.49 Million | -13.08% |
| 2014-06-30 | AU$10.91 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Wam Microcap 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 2238859200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | AU$347.78 Million | 88.07% |
| Other Comprehensive Income | AU$128.17 Million | 32.46% |
| Other Components | AU$1.00 | 0.00% |
| Total Equity | AU$394.87 Million | 100.00% |
Wam Microcap Ltd Competitors by Market Cap
The table below lists competitors of Wam Microcap Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Pontus Protein Ltd
PINK:HLKKF
|
$8.67K |
|
Global Data Centre Group
AU:GDC
|
$8.68K |
|
AtomTrace a.s.
PR:ATOMT
|
$8.68K |
|
Delic Holdings Inc
PINK:DELCF
|
$8.68K |
|
Hai Minh Corp
VN:HMH
|
$8.67K |
|
TRIS3F
SA:TRIS3F
|
$8.66K |
|
Larrain Vial Activos S.A. Administradora General - FI Larrain Vial Mexico Mezzanine
SN:CFILVMXA-E
|
$8.66K |
|
TASA4F
SA:TASA4F
|
$8.66K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Wam Microcap Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 377,150,607 to 394,870,515, a change of 17,719,908 (4.7%).
- Net income of 43,583,480 contributed positively to equity growth.
- Dividend payments of 25,850,307 reduced retained earnings.
- Share repurchases of 18,950 reduced equity.
- Other comprehensive income increased equity by 14,314,501.
- Other factors decreased equity by 14,308,816.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$43.58 Million | +11.04% |
| Dividends Paid | AU$25.85 Million | -6.55% |
| Share Repurchases | AU$18.95K | -0.0% |
| Other Comprehensive Income | AU$14.31 Million | +3.63% |
| Other Changes | AU$-14.31 Million | -3.62% |
| Total Change | AU$- | 4.70% |
Book Value vs Market Value Analysis
This analysis compares Wam Microcap 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: 1.08x
- 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 1.19x to 1.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-06-30 | AU$1.29 | AU$1.53 | x |
| 2019-06-30 | AU$0.86 | AU$1.53 | x |
| 2020-06-30 | AU$0.87 | AU$1.53 | x |
| 2021-06-30 | AU$1.57 | AU$1.53 | x |
| 2022-06-30 | AU$1.29 | AU$1.53 | x |
| 2023-06-30 | AU$1.31 | AU$1.53 | x |
| 2024-06-30 | AU$1.68 | AU$1.53 | x |
| 2025-06-30 | AU$1.42 | AU$1.53 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Wam Microcap Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.04%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 62.84%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 1.04x
- Recent ROE (11.04%) is above the historical average (2.23%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | -24.29% | -14.28% | 1.41x | 1.21x | AU$-3.74 Million |
| 2015 | -21.52% | -12.04% | 1.49x | 1.20x | AU$-2.99 Million |
| 2016 | -1.83% | -1.00% | 1.64x | 1.12x | AU$-1.11 Million |
| 2017 | 7.86% | 4.27% | 1.62x | 1.14x | AU$-215.10K |
| 2018 | 17.02% | 65.24% | 0.24x | 1.09x | AU$12.66 Million |
| 2019 | 3.92% | 64.65% | 0.06x | 1.08x | AU$-10.92 Million |
| 2020 | 6.24% | 66.17% | 0.09x | 1.08x | AU$-6.82 Million |
| 2021 | 23.23% | 68.74% | 0.30x | 1.13x | AU$43.34 Million |
| 2022 | -13.46% | 0.00% | -0.18x | 1.02x | AU$-62.92 Million |
| 2023 | 9.54% | 68.07% | 0.13x | 1.04x | AU$-1.26 Million |
| 2024 | 9.07% | 67.90% | 0.13x | 1.06x | AU$-3.51 Million |
| 2025 | 11.04% | 62.84% | 0.17x | 1.04x | AU$4.10 Million |
Industry Comparison
This section compares Wam Microcap 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 Microcap Ltd (WMI) | AU$394.87 Million | -24.29% | 0.04x | $8.67K |
| 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 |