Equites Property Fund Ltd
Equites Property Fund Limited ("Equites") is a South African REIT, with a clear focus on being a market leader in the logistics property market by developing and acquiring A-grade, modern logistics facilities in prime locations in South Africa and the United Kingdom. Equites listed on the Johannesburg Stock Exchange ("JSE") on 18 June 2014 with a portfolio value of R1 billion and has since grown … Read more
Equites Property Fund Ltd (EQU) - Net Assets
Latest net assets as of February 2025: ZAC17.56 Billion ZAC
Based on the latest financial reports, Equites Property Fund Ltd (EQU) has net assets worth ZAC17.56 Billion ZAC as of February 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC30.54 Billion) and total liabilities (ZAC12.99 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 | ZAC17.56 Billion |
| % of Total Assets | 57.48% |
| Annual Growth Rate | 29.72% |
| 5-Year Change | 34.95% |
| 10-Year Change | 384.89% |
| Growth Volatility | 49.81 |
Equites Property Fund Ltd - Net Assets Trend (2015–2025)
This chart illustrates how Equites Property Fund 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 Equites Property Fund Ltd (2015–2025)
The table below shows the annual net assets of Equites Property Fund Ltd from 2015 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-02-28 | ZAC17.56 Billion | +3.61% |
| 2024-02-29 | ZAC16.95 Billion | +4.14% |
| 2023-02-28 | ZAC16.27 Billion | -7.08% |
| 2022-02-28 | ZAC17.51 Billion | +34.60% |
| 2021-02-28 | ZAC13.01 Billion | +33.16% |
| 2020-02-29 | ZAC9.77 Billion | +12.69% |
| 2019-02-28 | ZAC8.67 Billion | +35.29% |
| 2018-02-28 | ZAC6.41 Billion | +27.12% |
| 2017-02-28 | ZAC5.04 Billion | +39.22% |
| 2016-02-29 | ZAC3.62 Billion | +178.31% |
| 2015-02-28 | ZAC1.30 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Equites Property Fund 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 229.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (February 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ZAC12.96 Billion | 94.14% |
| Other Comprehensive Income | ZAC1.02 Billion | 7.37% |
| Total Equity | ZAC13.77 Billion | 100.00% |
Equites Property Fund Ltd Competitors by Market Cap
The table below lists competitors of Equites Property Fund Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Profusa, Inc. Common Stock
NASDAQ:PFSA
|
$7.85 Million |
|
Aprogen Healthcare & Games Inc
KQ:109960
|
$7.85 Million |
|
Julong Holding Limited Class A Ordinary Shares
NASDAQ:JLHL
|
$7.85 Million |
|
Connexion Mobility Ltd
AU:CXZ
|
$7.85 Million |
|
Emova Group SA
PA:ALEMV
|
$7.85 Million |
|
PIONEER MEDIA HOLDINGS
F:6NU
|
$7.84 Million |
|
Noble Helium Ltd
AU:NHE
|
$7.84 Million |
|
Bastas Baskent Cimento Sanayi ve Ticaret AS
IS:BASCM
|
$7.84 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Equites Property Fund Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,383,223,000 to 13,771,948,000, a change of 388,725,000 (2.9%).
- Net income of 943,550,000 contributed positively to equity growth.
- Dividend payments of 1,268,671,000 reduced retained earnings.
- New share issuances of 696,129,000 increased equity.
- Other comprehensive income decreased equity by 210,175,000.
- Other factors increased equity by 227,892,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC943.55 Million | +6.85% |
| Dividends Paid | ZAC1.27 Billion | -9.21% |
| Share Issuances | ZAC696.13 Million | +5.05% |
| Other Comprehensive Income | ZAC-210.18 Million | -1.53% |
| Other Changes | ZAC227.89 Million | +1.65% |
| Total Change | ZAC- | 2.90% |
Book Value vs Market Value Analysis
This analysis compares Equites Property Fund 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: 99.52x
- 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 115.75x to 99.52x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-02-28 | ZAC14.45 | ZAC1673.00 | x |
| 2016-02-29 | ZAC21.69 | ZAC1673.00 | x |
| 2017-02-28 | ZAC16.60 | ZAC1673.00 | x |
| 2018-02-28 | ZAC16.31 | ZAC1673.00 | x |
| 2019-02-28 | ZAC18.93 | ZAC1673.00 | x |
| 2020-02-29 | ZAC18.30 | ZAC1673.00 | x |
| 2021-02-28 | ZAC17.39 | ZAC1673.00 | x |
| 2022-02-28 | ZAC20.84 | ZAC1673.00 | x |
| 2023-02-28 | ZAC16.46 | ZAC1673.00 | x |
| 2024-02-29 | ZAC16.95 | ZAC1673.00 | x |
| 2025-02-28 | ZAC16.81 | ZAC1673.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Equites Property Fund 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): 6.85%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.17%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 2.22x
- Recent ROE (6.85%) is below the historical average (8.87%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 14.15% | 140.92% | 0.09x | 1.11x | ZAC53.93 Million |
| 2016 | 10.60% | 114.36% | 0.08x | 1.17x | ZAC21.79 Million |
| 2017 | 15.86% | 156.19% | 0.08x | 1.32x | ZAC290.01 Million |
| 2018 | 13.82% | 151.68% | 0.07x | 1.35x | ZAC240.31 Million |
| 2019 | 7.86% | 87.43% | 0.06x | 1.44x | ZAC-182.12 Million |
| 2020 | 7.01% | 68.65% | 0.07x | 1.56x | ZAC-290.79 Million |
| 2021 | 3.76% | 34.38% | 0.06x | 1.92x | ZAC-676.82 Million |
| 2022 | 14.07% | 120.45% | 0.06x | 1.92x | ZAC587.49 Million |
| 2023 | -4.96% | -19.88% | 0.11x | 2.21x | ZAC-1.93 Billion |
| 2024 | 8.61% | 46.36% | 0.08x | 2.26x | ZAC-186.56 Million |
| 2025 | 6.85% | 22.17% | 0.14x | 2.22x | ZAC-433.64 Million |
Industry Comparison
This section compares Equites Property Fund Ltd's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $161,089,896
- Average return on equity (ROE) among peers: 67.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Equites Property Fund Ltd (EQU) | ZAC17.56 Billion | 14.15% | 0.74x | $7.85 Million |
| Stor-Age Property REIT Ltd (SSS) | $161.09 Million | 67.16% | 6.57x | $5.00 Million |