Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (RJ8) - Net Assets
Based on the latest financial reports, Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (RJ8) has net assets worth €1.72 Billion EUR (≈ $2.01 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€2.31 Billion ≈ $2.70 Billion USD) and total liabilities (€596.51 Million ≈ $697.38 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 RJ8 strategic asset allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.72 Billion |
| % of Total Assets | 74.22% |
| Annual Growth Rate | 11.45% |
| 5-Year Change | 189.62% |
| 10-Year Change | 150.36% |
| Growth Volatility | 38.44 |
Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco - Net Assets Trend (2014–2025)
This chart illustrates how Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market value of Société Anonyme des Bains de Mer et du C.
Annual Net Assets for Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (2014–2025)
The table below shows the annual net assets of Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco from 2014 to 2025. Also explore Société Anonyme des Bains de Mer et du C equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | €1.64 Billion ≈ $1.92 Billion |
+4.85% |
| 2024-03-31 | €1.57 Billion ≈ $1.83 Billion |
+3.77% |
| 2023-03-31 | €1.51 Billion ≈ $1.77 Billion |
+131.20% |
| 2022-03-31 | €653.07 Million ≈ $763.51 Million |
+15.13% |
| 2021-03-31 | €567.24 Million ≈ $663.16 Million |
-12.78% |
| 2020-03-31 | €650.35 Million ≈ $760.33 Million |
+4.38% |
| 2019-03-31 | €623.06 Million ≈ $728.42 Million |
-0.27% |
| 2018-03-31 | €624.75 Million ≈ $730.40 Million |
-2.33% |
| 2017-03-31 | €639.63 Million ≈ $747.79 Million |
-2.52% |
| 2016-03-31 | €656.17 Million ≈ $767.13 Million |
-3.56% |
| 2015-03-31 | €680.36 Million ≈ $795.41 Million |
+36.41% |
| 2014-03-31 | €498.75 Million ≈ $583.09 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco'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 538.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €110.13 Million | 6.70% |
| Other Components | €1.53 Billion | 93.30% |
| Total Equity | €1.64 Billion | 100.00% |
Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco Competitors by Market Cap
The table below lists competitors of Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Central Depository Services (India) Limited
NSE:CDSL
|
$3.14 Billion |
|
Bravida Holding AB
ST:BRAV
|
$3.15 Billion |
|
Petrosea Tbk
JK:PTRO
|
$3.15 Billion |
|
China Southern Power Grid Energy Efficiency & Clean Energy Co Ltd
SHE:003035
|
$3.15 Billion |
|
Schneider Electric Infrastructure Limited
NSE:SCHNEIDER
|
$3.14 Billion |
|
KENON HLDGS LTD
F:76N
|
$3.14 Billion |
|
Zhengzhou Coal Mining Machinery Group Co Ltd
SHG:601717
|
$3.14 Billion |
|
North Industries Group Red Arrow Co Ltd
SHE:000519
|
$3.14 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,566,788,000 to 1,642,822,000, a change of 76,034,000 (4.9%).
- Net income of 110,134,000 contributed positively to equity growth.
- Dividend payments of 36,900,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €110.13 Million | +6.7% |
| Dividends Paid | €36.90 Million | -2.25% |
| Other Changes | €2.80 Million | +0.17% |
| Total Change | €- | 4.85% |
Book Value vs Market Value Analysis
This analysis compares Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco'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: 2.00x
- 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 5.14x to 2.00x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-03-31 | €26.07 | €134.00 | x |
| 2018-03-31 | €25.46 | €134.00 | x |
| 2019-03-31 | €25.38 | €134.00 | x |
| 2020-03-31 | €26.49 | €134.00 | x |
| 2021-03-31 | €23.11 | €134.00 | x |
| 2022-03-31 | €26.64 | €134.00 | x |
| 2023-03-31 | €61.59 | €134.00 | x |
| 2024-03-31 | €63.91 | €134.00 | x |
| 2025-03-31 | €67.01 | €134.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco 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): 6.70%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.34%
- • Asset Turnover: 0.35x
- • Equity Multiplier: 1.33x
- Recent ROE (6.70%) is above the historical average (5.61%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 3.46% | 3.65% | 0.55x | 1.72x | €-32.60 Million |
| 2015 | 1.48% | 2.22% | 0.45x | 1.49x | €-57.96 Million |
| 2016 | -4.44% | -6.32% | 0.45x | 1.56x | €-94.73 Million |
| 2017 | -5.69% | -7.93% | 0.44x | 1.64x | €-100.30 Million |
| 2018 | -2.34% | -3.08% | 0.40x | 1.89x | €-77.01 Million |
| 2019 | 0.41% | 0.49% | 0.38x | 2.23x | €-59.65 Million |
| 2020 | 4.02% | 4.21% | 0.44x | 2.19x | €-38.82 Million |
| 2021 | -13.96% | -23.48% | 0.26x | 2.27x | €-135.76 Million |
| 2022 | 11.69% | 14.39% | 0.41x | 1.98x | €11.04 Million |
| 2023 | 59.36% | 134.37% | 0.32x | 1.36x | €745.22 Million |
| 2024 | 6.63% | 14.76% | 0.34x | 1.34x | €-52.73 Million |
| 2025 | 6.70% | 14.34% | 0.35x | 1.33x | €-54.15 Million |
Industry Comparison
This section compares Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco's net assets metrics with peer companies in the Resorts & Casinos industry.
Industry Context
- Industry: Resorts & Casinos
- Average net assets among peers: $370,151,400
- Average return on equity (ROE) among peers: -5.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (RJ8) | €1.72 Billion | 3.46% | 0.35x | $3.14 Billion |
| SJM HOLDINGS UNSP.ADR/4 (3MG1) | $16.01 Billion | -48.70% | 2.29x | $1.66 Billion |
| SANDS CHINA ADR/1 O.N. (599) | $-700.00 Million | 0.00% | 0.00x | $14.41 Billion |
| Sands China Ltd (599A) | $1.93 Billion | -78.95% | 4.47x | $12.70 Billion |
| Wynn Macau Limited (8WY) | $-5.06 Billion | 0.00% | 0.00x | $3.25 Billion |
| WYNN MACAU LTD ADR/10 (8WY0) | $-17.15 Billion | 0.00% | 0.00x | $3.19 Billion |
| The Star Entertainment Group Limited (EE9) | $3.04 Billion | 5.58% | 0.45x | $348.40 Million |
| MGM China Holdings Limited (M04) | $4.92 Billion | 63.33% | 3.47x | $4.55 Billion |
| Melco Resorts & Entertainment Limited (MAS) | $-939.96 Million | 0.00% | 0.00x | $1.69 Billion |
| NagaCorp Ltd (N9J) | $1.65 Billion | -8.91% | 0.47x | $1.72 Billion |
| Regenbogen AG (RGB) | $7.79 Million | 8.18% | 2.08x | $11.92 Million |
About Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco
Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco operates in the gaming, hotels, and rental sectors in Monaco. It operates casinos; hotels; restaurants; lounge bars and nightclubs; wellness and leisure facilities; shows and concert halls; shopping centers; and meetings and events centers. The company is also involved in the slot machines, table games, and other activities; and… Read more