Retail Estates - Sicafi
Retail Estates NV is a Belgian public real estate investment trust and is a niche player specialised in making out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. Retail Estates NV acquires these real estate properties from third parties or builds and commercialises retail buildings for its own account. A typi… Read more
Retail Estates - Sicafi (RET) - Net Assets
Latest net assets as of September 2025: €1.22 Billion EUR
Based on the latest financial reports, Retail Estates - Sicafi (RET) has net assets worth €1.22 Billion EUR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€2.16 Billion) and total liabilities (€942.26 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 | €1.22 Billion |
| % of Total Assets | 56.43% |
| Annual Growth Rate | 12.25% |
| 5-Year Change | 52.19% |
| 10-Year Change | 159.41% |
| Growth Volatility | 8.56 |
Retail Estates - Sicafi - Net Assets Trend (2005–2025)
This chart illustrates how Retail Estates - Sicafi's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Retail Estates - Sicafi (2005–2025)
The table below shows the annual net assets of Retail Estates - Sicafi from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | €1.23 Billion | +4.74% |
| 2024-03-31 | €1.17 Billion | +6.37% |
| 2023-03-31 | €1.10 Billion | +19.88% |
| 2022-03-31 | €920.98 Million | +13.95% |
| 2021-03-31 | €808.22 Million | +1.16% |
| 2020-03-31 | €798.99 Million | +12.86% |
| 2019-03-31 | €707.93 Million | +24.56% |
| 2018-03-31 | €568.33 Million | +10.36% |
| 2017-03-31 | €514.97 Million | +8.60% |
| 2016-03-31 | €474.17 Million | +24.38% |
| 2015-03-31 | €381.21 Million | +6.92% |
| 2014-03-31 | €356.52 Million | +32.25% |
| 2013-03-31 | €269.59 Million | +11.71% |
| 2012-03-31 | €241.34 Million | +5.11% |
| 2011-03-31 | €229.61 Million | +20.19% |
| 2010-03-31 | €191.04 Million | +20.71% |
| 2009-03-31 | €158.26 Million | -3.49% |
| 2008-03-31 | €163.98 Million | +11.48% |
| 2007-03-31 | €147.09 Million | +10.45% |
| 2006-03-31 | €133.17 Million | +9.22% |
| 2005-03-31 | €121.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Retail Estates - Sicafi'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 1177.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €106.70 Million | 8.74% |
| Common Stock | €322.50 Million | 26.41% |
| Other Comprehensive Income | €264.35 Million | 21.65% |
| Other Components | €527.50 Million | 43.20% |
| Total Equity | €1.22 Billion | 100.00% |
Retail Estates - Sicafi Competitors by Market Cap
The table below lists competitors of Retail Estates - Sicafi ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Suzhou Secote Precision Electronic Co Ltd Class A
SHG:603283
|
$1.00 Billion |
|
RF Capital Group Inc
PINK:GMPFF
|
$1.00 Billion |
|
XiAn Shaangu Power Co Ltd
SHG:601369
|
$1.00 Billion |
|
Heritage Financial Corporation
NASDAQ:HFWA
|
$1.00 Billion |
|
Strathcona Resources Ltd.
PINK:STHRF
|
$999.67 Million |
|
Foryou Corp
SHE:002906
|
$999.62 Million |
|
REalloys Inc.
NASDAQ:ALOY
|
$999.45 Million |
|
Robertet SA
PINK:RBTEF
|
$999.28 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Retail Estates - Sicafi's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,167,357,000 to 1,221,040,000, a change of 53,683,000 (4.6%).
- Net income of 106,696,000 contributed positively to equity growth.
- Dividend payments of 71,878,000 reduced retained earnings.
- New share issuances of 19,739,000 increased equity.
- Other comprehensive income increased equity by 42,786,000.
- Other factors decreased equity by 43,660,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €106.70 Million | +8.74% |
| Dividends Paid | €71.88 Million | -5.89% |
| Share Issuances | €19.74 Million | +1.62% |
| Other Comprehensive Income | €42.79 Million | +3.5% |
| Other Changes | €-43.66 Million | -3.58% |
| Total Change | €- | 4.60% |
Book Value vs Market Value Analysis
This analysis compares Retail Estates - Sicafi'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: 0.81x
- 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 decreased from 2.12x to 0.81x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | €31.90 | €67.50 | x |
| 2006-03-31 | €36.31 | €67.50 | x |
| 2007-03-31 | €40.09 | €67.50 | x |
| 2008-03-31 | €42.52 | €67.50 | x |
| 2009-03-31 | €40.04 | €67.50 | x |
| 2010-03-31 | €43.99 | €67.50 | x |
| 2011-03-31 | €45.44 | €67.50 | x |
| 2012-03-31 | €44.15 | €67.50 | x |
| 2013-03-31 | €45.87 | €67.50 | x |
| 2014-03-31 | €50.05 | €67.50 | x |
| 2015-03-31 | €51.65 | €67.50 | x |
| 2016-03-31 | €54.96 | €67.50 | x |
| 2017-03-31 | €57.81 | €67.50 | x |
| 2018-03-31 | €60.91 | €67.50 | x |
| 2019-03-31 | €62.84 | €67.50 | x |
| 2020-03-31 | €64.64 | €67.50 | x |
| 2021-03-31 | €63.88 | €67.50 | x |
| 2022-03-31 | €71.43 | €67.50 | x |
| 2023-03-31 | €78.89 | €67.50 | x |
| 2024-03-31 | €81.67 | €67.50 | x |
| 2025-03-31 | €83.02 | €67.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Retail Estates - Sicafi 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): 8.74%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 75.89%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.77x
- Recent ROE (8.74%) is below the historical average (10.54%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 10.22% | 81.54% | 0.08x | 1.56x | €266.20K |
| 2006 | 14.62% | 134.46% | 0.07x | 1.55x | €6.15 Million |
| 2007 | 15.65% | 148.08% | 0.06x | 1.80x | €8.31 Million |
| 2008 | 12.96% | 99.54% | 0.06x | 2.05x | €4.83 Million |
| 2009 | 8.85% | 54.40% | 0.06x | 2.52x | €-1.82 Million |
| 2010 | 8.04% | 49.68% | 0.07x | 2.38x | €-3.74 Million |
| 2011 | 11.63% | 79.75% | 0.06x | 2.27x | €3.73 Million |
| 2012 | 11.34% | 70.80% | 0.07x | 2.30x | €3.23 Million |
| 2013 | 10.97% | 64.78% | 0.07x | 2.55x | €2.62 Million |
| 2014 | 8.01% | 54.22% | 0.07x | 2.12x | €-7.08 Million |
| 2015 | 9.24% | 60.23% | 0.07x | 2.22x | €-2.88 Million |
| 2016 | 8.86% | 61.86% | 0.07x | 2.14x | €-5.38 Million |
| 2017 | 10.12% | 78.99% | 0.06x | 2.11x | €639.00K |
| 2018 | 8.22% | 60.58% | 0.06x | 2.45x | €-10.14 Million |
| 2019 | 7.70% | 57.97% | 0.06x | 2.21x | €-16.31 Million |
| 2020 | 7.27% | 54.55% | 0.06x | 2.23x | €-21.80 Million |
| 2021 | 7.60% | 54.27% | 0.06x | 2.18x | €-19.39 Million |
| 2022 | 14.31% | 103.21% | 0.07x | 1.97x | €39.74 Million |
| 2023 | 16.46% | 130.07% | 0.07x | 1.82x | €70.90 Million |
| 2024 | 10.53% | 79.78% | 0.07x | 1.83x | €6.23 Million |
| 2025 | 8.74% | 75.89% | 0.07x | 1.77x | €-15.41 Million |
Industry Comparison
This section compares Retail Estates - Sicafi's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $327,505,500
- Average return on equity (ROE) among peers: 6.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Retail Estates - Sicafi (RET) | €1.22 Billion | 10.22% | 0.77x | $1.00 Billion |
| Ascencio (D) (ASCE) | $442.92 Million | 5.76% | 0.76x | $298.99 Million |
| QRF SCA (QRF) | $125.38 Million | 10.05% | 1.15x | $42.54 Million |
| Vastned Retail Belgium (VASTB) | $122.44 Million | 0.00% | 0.47x | $212.59 Million |
| Wereldhav B-Sicafi (WEHB) | $619.28 Million | 8.83% | 0.43x | $304.03 Million |