Rebosis
Rebosis is a JSE listed real estate investment trust (REIT) with a high quality diversified portfolio across commercial and retail assets. The majority of its commercial income enjoys a sovereign underpin from national, provincial and local government departments across 35 buildings. The retail portfolio has a mix of regional and super regional malls, spread across Gauteng and the Eastern Cape.
Rebosis (REB) - Net Assets
Latest net assets as of February 2022: ZAC3.12 Billion ZAC
Based on the latest financial reports, Rebosis (REB) has net assets worth ZAC3.12 Billion ZAC as of February 2022.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC13.30 Billion) and total liabilities (ZAC10.18 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 | ZAC3.12 Billion |
| % of Total Assets | 23.44% |
| Annual Growth Rate | -5.22% |
| 5-Year Change | -73.09% |
| 10-Year Change | N/A |
| Growth Volatility | 36.77 |
Rebosis - Net Assets Trend (2014–2021)
This chart illustrates how Rebosis's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Rebosis (2014–2021)
The table below shows the annual net assets of Rebosis from 2014 to 2021.
| Year | Net Assets | Change |
|---|---|---|
| 2021-08-31 | ZAC3.19 Billion | -8.37% |
| 2020-08-31 | ZAC3.48 Billion | -39.33% |
| 2019-08-31 | ZAC5.73 Billion | -45.18% |
| 2018-08-31 | ZAC10.46 Billion | -11.70% |
| 2017-08-31 | ZAC11.85 Billion | +25.21% |
| 2016-08-31 | ZAC9.46 Billion | +21.67% |
| 2015-08-31 | ZAC7.78 Billion | +67.66% |
| 2014-08-31 | ZAC4.64 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Rebosis'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 582693800000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (August 2021)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ZAC9.02 Billion | 282.77% |
| Total Equity | ZAC3.19 Billion | 100.00% |
Rebosis Competitors by Market Cap
The table below lists competitors of Rebosis ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rebosis Property Fund Ltd
JSE:REA
|
$91.53K |
|
Ditem Explorations Inc
PINK:DTEMF
|
$91.76K |
|
NextPoint Capital SOCIMI S.A.
MC:YNPC
|
$91.77K |
|
Idea Acquisition Corp. Units
NASDAQ:IACOU
|
$91.84K |
|
Alussa Energy Acquisition Corp. II
NYSE:ALUB-UN
|
$91.53K |
|
Strats Trust US Cellular GIC
NYSE:GJH
|
$91.51K |
|
Stark Focus Group Inc
PINK:SKFG
|
$91.48K |
|
ODFJELL DRILL
MU:OD3
|
$91.47K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Rebosis's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2020 to 2021, total equity changed from 3,479,486,000 to 3,188,130,000, a change of -291,356,000 (-8.4%).
- Net loss of 291,355,000 reduced equity.
Equity Change Factors (2020 to 2021)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC-291.36 Million | -9.14% |
| Other Changes | ZAC-1.00K | -0.0% |
| Total Change | ZAC- | -8.37% |
Book Value vs Market Value Analysis
This analysis compares Rebosis'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: 3.81x
- 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 increased from 0.95x to 3.81x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-08-31 | ZAC16.85 | ZAC16.00 | x |
| 2018-08-31 | ZAC13.76 | ZAC16.00 | x |
| 2019-08-31 | ZAC7.54 | ZAC16.00 | x |
| 2020-08-31 | ZAC4.58 | ZAC16.00 | x |
| 2021-08-31 | ZAC4.19 | ZAC16.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Rebosis 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): -9.14%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -17.74%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 4.24x
- Recent ROE (-9.14%) is below the historical average (-2.59%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 14.78% | 77.52% | 0.11x | 1.69x | ZAC221.66 Million |
| 2015 | 9.83% | 57.95% | 0.07x | 2.46x | ZAC-10.63 Million |
| 2016 | 22.18% | 93.12% | 0.10x | 2.48x | ZAC937.33 Million |
| 2017 | 21.28% | 133.86% | 0.08x | 1.91x | ZAC1.34 Billion |
| 2018 | -8.83% | -40.86% | 0.10x | 2.08x | ZAC-1.97 Billion |
| 2019 | -73.97% | -230.28% | 0.11x | 2.84x | ZAC-4.82 Billion |
| 2020 | 3.13% | 6.32% | 0.13x | 3.95x | ZAC-238.98 Million |
| 2021 | -9.14% | -17.74% | 0.12x | 4.24x | ZAC-610.17 Million |
Industry Comparison
This section compares Rebosis's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $9,891,792,900
- Average return on equity (ROE) among peers: -6.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Rebosis (REB) | ZAC3.12 Billion | 14.78% | 3.27x | $91.53K |
| 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 |
| Emira Property Fund (EMI) | $7.35 Billion | 6.36% | 0.81x | $3.32 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 |