Emira Property Fund
Emira Property Fund Limited (the "Company") is a Real Estate Investment Trust ("REIT") domiciled in South Africa and, together with all its subsidiaries (the "Group" or the "Fund" or "Emira"), owns a portfolio of property investments which are sectorally and geographically diversified. Emira continues to deliver returns throughout the cycles by way of this risk-mitigating diversification strategy… Read more
Emira Property Fund (EMI) - Net Assets
Latest net assets as of September 2025: ZAC9.79 Billion ZAC
Based on the latest financial reports, Emira Property Fund (EMI) has net assets worth ZAC9.79 Billion ZAC as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC16.46 Billion) and total liabilities (ZAC6.67 Billion). 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 | ZAC9.79 Billion |
| % of Total Assets | 59.48% |
| Annual Growth Rate | 9.42% |
| 5-Year Change | 35.35% |
| 10-Year Change | 12.33% |
| Growth Volatility | 28.09 |
Emira Property Fund - Net Assets Trend (2004–2025)
This chart illustrates how Emira Property Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Emira Property Fund (2004–2025)
The table below shows the annual net assets of Emira Property Fund from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | ZAC9.95 Billion | +18.92% |
| 2024-06-30 | ZAC8.37 Billion | -1.86% |
| 2023-06-30 | ZAC8.53 Billion | +8.38% |
| 2022-06-30 | ZAC7.87 Billion | +7.00% |
| 2021-06-30 | ZAC7.35 Billion | -1.21% |
| 2020-06-30 | ZAC7.44 Billion | -17.17% |
| 2019-06-30 | ZAC8.98 Billion | +0.16% |
| 2018-06-30 | ZAC8.97 Billion | +1.46% |
| 2017-06-30 | ZAC8.84 Billion | -0.20% |
| 2016-06-30 | ZAC8.86 Billion | -0.92% |
| 2015-06-30 | ZAC8.94 Billion | +27.65% |
| 2014-06-30 | ZAC7.00 Billion | +6.28% |
| 2013-06-30 | ZAC6.59 Billion | +14.11% |
| 2012-06-30 | ZAC5.78 Billion | -1.11% |
| 2011-06-30 | ZAC5.84 Billion | +5.69% |
| 2010-06-30 | ZAC5.53 Billion | -0.23% |
| 2009-06-30 | ZAC5.54 Billion | -3.87% |
| 2008-06-30 | ZAC5.76 Billion | +2.75% |
| 2007-06-30 | ZAC5.61 Billion | +125.79% |
| 2006-06-30 | ZAC2.48 Billion | +38.84% |
| 2005-06-30 | ZAC1.79 Billion | +19.10% |
| 2004-06-30 | ZAC1.50 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Emira Property Fund'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 182483700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC1.82 Billion | 18.36% |
| Common Stock | ZAC3.40 Billion | 34.24% |
| Other Components | ZAC4.71 Billion | 47.40% |
| Total Equity | ZAC9.94 Billion | 100.00% |
Emira Property Fund Competitors by Market Cap
The table below lists competitors of Emira Property Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zelan Bhd
KLSE:2283
|
$3.32 Million |
|
Youxin Technology Ltd Class A Ordinary shares
NASDAQ:YAAS
|
$3.32 Million |
|
Catalina Resources Ltd
AU:CTN
|
$3.33 Million |
|
Sterling Infrastructure Inc
STU:UAO
|
$3.33 Million |
|
Sieu Thanh JSC
VN:ST8
|
$3.32 Million |
|
Eastern International Ltd.
NASDAQ:ELOG
|
$3.32 Million |
|
Verity Resources Ltd
AU:VRL
|
$3.32 Million |
|
Thuan An Wood Processing JSC
VN:GTA
|
$3.32 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Emira Property Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,349,926,000 to 9,938,619,000, a change of 1,588,693,000 (19.0%).
- Net income of 2,379,340,000 contributed positively to equity growth.
- Dividend payments of 574,695,000 reduced retained earnings.
- Share repurchases of 13,827,000 reduced equity.
- Other comprehensive income decreased equity by 4,373,330,000.
- Other factors increased equity by 4,189,179,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC2.38 Billion | +23.94% |
| Dividends Paid | ZAC574.70 Million | -5.78% |
| Share Repurchases | ZAC13.83 Million | -0.14% |
| Other Comprehensive Income | ZAC-4.37 Billion | -44.0% |
| Other Changes | ZAC4.19 Billion | +42.15% |
| Total Change | ZAC- | 19.03% |
Book Value vs Market Value Analysis
This analysis compares Emira Property Fund'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: 62.17x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 240.51x to 62.17x 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 | ZAC5.26 | ZAC1266.00 | x |
| 2005-06-30 | ZAC6.26 | ZAC1266.00 | x |
| 2006-06-30 | ZAC8.66 | ZAC1266.00 | x |
| 2007-06-30 | ZAC15.12 | ZAC1266.00 | x |
| 2008-06-30 | ZAC11.73 | ZAC1266.00 | x |
| 2009-06-30 | ZAC11.28 | ZAC1266.00 | x |
| 2010-06-30 | ZAC11.33 | ZAC1266.00 | x |
| 2011-06-30 | ZAC11.58 | ZAC1266.00 | x |
| 2012-06-30 | ZAC11.40 | ZAC1266.00 | x |
| 2013-06-30 | ZAC13.24 | ZAC1266.00 | x |
| 2014-06-30 | ZAC14.29 | ZAC1266.00 | x |
| 2015-06-30 | ZAC17.60 | ZAC1266.00 | x |
| 2016-06-30 | ZAC17.35 | ZAC1266.00 | x |
| 2017-06-30 | ZAC17.73 | ZAC1266.00 | x |
| 2018-06-30 | ZAC17.57 | ZAC1266.00 | x |
| 2019-06-30 | ZAC17.86 | ZAC1266.00 | x |
| 2020-06-30 | ZAC14.96 | ZAC1266.00 | x |
| 2021-06-30 | ZAC15.02 | ZAC1266.00 | x |
| 2022-06-30 | ZAC16.07 | ZAC1266.00 | x |
| 2023-06-30 | ZAC16.72 | ZAC1266.00 | x |
| 2024-06-30 | ZAC17.06 | ZAC1266.00 | x |
| 2025-06-30 | ZAC20.36 | ZAC1266.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Emira Property Fund 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): 23.94%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 140.68%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 1.70x
- Recent ROE (23.94%) is above the historical average (12.21%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 11.82% | 98.79% | 0.09x | 1.29x | ZAC27.32 Million |
| 2005 | 26.38% | 115.91% | 0.18x | 1.29x | ZAC293.00 Million |
| 2006 | 36.58% | 200.98% | 0.15x | 1.25x | ZAC660.01 Million |
| 2007 | 2.40% | 10.82% | 0.17x | 1.32x | ZAC-426.04 Million |
| 2008 | 9.64% | 29.71% | 0.24x | 1.35x | ZAC-20.86 Million |
| 2009 | 5.84% | 29.87% | 0.14x | 1.41x | ZAC-230.45 Million |
| 2010 | 9.31% | 44.28% | 0.14x | 1.47x | ZAC-38.01 Million |
| 2011 | 9.28% | 44.26% | 0.14x | 1.48x | ZAC-42.26 Million |
| 2012 | 10.06% | 46.36% | 0.13x | 1.62x | ZAC3.51 Million |
| 2013 | 21.86% | 107.39% | 0.13x | 1.53x | ZAC782.08 Million |
| 2014 | 17.06% | 80.97% | 0.13x | 1.66x | ZAC494.83 Million |
| 2015 | 21.35% | 105.42% | 0.13x | 1.55x | ZAC1.02 Billion |
| 2016 | 7.23% | 35.62% | 0.13x | 1.61x | ZAC-245.68 Million |
| 2017 | 8.06% | 41.37% | 0.12x | 1.67x | ZAC-171.81 Million |
| 2018 | 9.46% | 47.89% | 0.12x | 1.69x | ZAC-48.37 Million |
| 2019 | 9.83% | 52.31% | 0.11x | 1.65x | ZAC-15.57 Million |
| 2020 | -9.87% | -48.91% | 0.11x | 1.86x | ZAC-1.48 Billion |
| 2021 | 6.36% | 31.65% | 0.11x | 1.81x | ZAC-267.57 Million |
| 2022 | 12.32% | 66.48% | 0.10x | 1.79x | ZAC182.39 Million |
| 2023 | 13.45% | 63.70% | 0.11x | 1.99x | ZAC282.54 Million |
| 2024 | 6.19% | 27.89% | 0.12x | 1.87x | ZAC-317.76 Million |
| 2025 | 23.94% | 140.68% | 0.10x | 1.70x | ZAC1.39 Billion |
Industry Comparison
This section compares Emira Property Fund's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $9,590,375,456
- Average return on equity (ROE) among peers: -5.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Emira Property Fund (EMI) | ZAC9.79 Billion | 11.82% | 0.68x | $3.32 Million |
| aReit Prop Ltd (APO) | $913.92 Million | -1.01% | 0.00x | $17.94K |
| Attacq (ATT) | $13.90 Billion | 4.53% | 0.97x | $6.06 Million |
| Burstone Group Limited (BTN) | $14.65 Billion | 11.65% | 1.13x | $3.98 Million |
| Growthpoint Properties Ltd (GRT) | $2.69 Billion | -37.36% | 22.82x | $30.34 Million |
| Oasis Crescent Property Fund (OAS) | $1.08 Billion | 7.96% | 0.04x | $388.09K |
| Octodec (OCT) | $6.42 Billion | 3.37% | 0.78x | $2.07 Million |
| Redefine Properties Ltd (RDF) | $38.83 Billion | -42.78% | 1.12x | $25.15 Million |
| Rebosis Property Fund Ltd (REA) | $3.19 Billion | -9.14% | 3.24x | $91.53K |
| Rebosis (REB) | $4.64 Billion | 14.78% | 0.69x | $91.53K |