RFG Holdings Ltd
RFG Holdings Limited manufactures and markets convenience meal solutions in South Africa, the Kingdom of Eswatini, and internationally. The company offers canned fruit and jam, fruit purees and fruit concentrates, canned vegetables, canned meat, bottled salads and pickles, fresh pasta and sauces, baked and unbaked pies, pasties, sausage rolls and pie-slices, tomato products, fruit juice, dry pack… Read more
RFG Holdings Ltd (RFG) - Net Assets
Latest net assets as of September 2025: ZAC3.90 Billion ZAC
Based on the latest financial reports, RFG Holdings Ltd (RFG) has net assets worth ZAC3.90 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 (ZAC6.04 Billion) and total liabilities (ZAC2.14 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 | ZAC3.90 Billion |
| % of Total Assets | 64.56% |
| Annual Growth Rate | 28.45% |
| 5-Year Change | 41.69% |
| 10-Year Change | 211.17% |
| Growth Volatility | 73.11 |
RFG Holdings Ltd - Net Assets Trend (2013–2025)
This chart illustrates how RFG Holdings 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 RFG Holdings Ltd (2013–2025)
The table below shows the annual net assets of RFG Holdings Ltd from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | ZAC3.90 Billion | +1.58% |
| 2024-09-30 | ZAC3.84 Billion | +12.71% |
| 2023-09-30 | ZAC3.41 Billion | +12.32% |
| 2022-09-30 | ZAC3.03 Billion | +10.19% |
| 2021-09-30 | ZAC2.75 Billion | +5.43% |
| 2020-09-30 | ZAC2.61 Billion | +5.38% |
| 2019-09-30 | ZAC2.48 Billion | +6.89% |
| 2018-09-30 | ZAC2.32 Billion | +3.67% |
| 2017-09-30 | ZAC2.24 Billion | +78.39% |
| 2016-09-30 | ZAC1.25 Billion | +23.10% |
| 2015-09-30 | ZAC1.02 Billion | +271.74% |
| 2014-09-30 | ZAC273.89 Million | +41.74% |
| 2013-09-30 | ZAC193.23 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to RFG Holdings 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 grown by 6012.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC2.28 Billion | 58.67% |
| Common Stock | ZAC1.56 Billion | 40.08% |
| Other Comprehensive Income | ZAC48.41 Million | 1.24% |
| Total Equity | ZAC3.89 Billion | 100.00% |
RFG Holdings Ltd Competitors by Market Cap
The table below lists competitors of RFG Holdings Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
HB Global Ltd
KLSE:5187
|
$3.34 Million |
|
Ttbio Corp.
TWO:6493
|
$3.34 Million |
|
Energoaparatura S.A.
WAR:ENP
|
$3.34 Million |
|
Hour Loop Inc
NASDAQ:HOUR
|
$3.34 Million |
|
Universal Ibogaine Inc
PINK:IBOGF
|
$3.34 Million |
|
Bioalpha Holdings Bhd
KLSE:0179
|
$3.34 Million |
|
Gromutual Bhd
KLSE:9962
|
$3.34 Million |
|
Matinas BioPharma Holdings Inc
NYSE MKT:MTNB
|
$3.34 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RFG Holdings Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,829,137,000 to 3,890,061,000, a change of 60,924,000 (1.6%).
- Net income of 445,431,000 contributed positively to equity growth.
- Dividend payments of 368,002,000 reduced retained earnings.
- Other comprehensive income decreased equity by 16,513,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC445.43 Million | +11.45% |
| Dividends Paid | ZAC368.00 Million | -9.46% |
| Other Comprehensive Income | ZAC-16.51 Million | -0.42% |
| Other Changes | ZAC8.00K | +0.0% |
| Total Change | ZAC- | 1.59% |
Book Value vs Market Value Analysis
This analysis compares RFG Holdings 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: 168.88x
- 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 2388.62x to 168.88x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-09-30 | ZAC1.04 | ZAC2486.00 | x |
| 2014-09-30 | ZAC1.49 | ZAC2486.00 | x |
| 2015-09-30 | ZAC4.42 | ZAC2486.00 | x |
| 2016-09-30 | ZAC5.44 | ZAC2486.00 | x |
| 2017-09-30 | ZAC8.78 | ZAC2486.00 | x |
| 2018-09-30 | ZAC8.82 | ZAC2486.00 | x |
| 2019-09-30 | ZAC9.42 | ZAC2486.00 | x |
| 2020-09-30 | ZAC9.92 | ZAC2486.00 | x |
| 2021-09-30 | ZAC10.42 | ZAC2486.00 | x |
| 2022-09-30 | ZAC11.51 | ZAC2486.00 | x |
| 2023-09-30 | ZAC12.94 | ZAC2486.00 | x |
| 2024-09-30 | ZAC14.51 | ZAC2486.00 | x |
| 2025-09-30 | ZAC14.72 | ZAC2486.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RFG Holdings 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): 11.45%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.47%
- • Asset Turnover: 1.35x
- • Equity Multiplier: 1.55x
- Recent ROE (11.45%) is below the historical average (14.21%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 19.93% | 2.01% | 1.26x | 7.88x | ZAC18.60 Million |
| 2014 | 30.61% | 3.35% | 1.45x | 6.28x | ZAC55.14 Million |
| 2015 | 16.78% | 5.62% | 1.22x | 2.45x | ZAC68.55 Million |
| 2016 | 23.09% | 6.93% | 1.34x | 2.49x | ZAC162.94 Million |
| 2017 | 10.53% | 5.11% | 1.12x | 1.85x | ZAC11.85 Million |
| 2018 | 6.69% | 3.02% | 1.11x | 1.99x | ZAC-76.44 Million |
| 2019 | 8.76% | 3.99% | 1.15x | 1.91x | ZAC-30.67 Million |
| 2020 | 8.31% | 3.69% | 1.20x | 1.88x | ZAC-43.94 Million |
| 2021 | 7.88% | 3.63% | 1.16x | 1.87x | ZAC-58.26 Million |
| 2022 | 11.93% | 4.97% | 1.34x | 1.79x | ZAC58.36 Million |
| 2023 | 14.03% | 6.04% | 1.42x | 1.63x | ZAC137.01 Million |
| 2024 | 14.77% | 7.07% | 1.33x | 1.57x | ZAC182.78 Million |
| 2025 | 11.45% | 5.47% | 1.35x | 1.55x | ZAC56.42 Million |
Industry Comparison
This section compares RFG Holdings Ltd's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $4,292,600,274
- Average return on equity (ROE) among peers: 15.19%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RFG Holdings Ltd (RFG) | ZAC3.90 Billion | 19.93% | 0.55x | $3.34 Million |
| AH-Vest Limited (AHL) | $45.30 Million | 4.55% | 2.25x | $28.20K |
| Avi Ltd (AVI) | $5.78 Billion | 39.03% | 0.78x | $18.18 Million |
| Brimstone Investment Corporation Ltd (BRT) | $2.59 Billion | 6.60% | 1.97x | $674.05K |
| Libstar Holdings Ltd (LBR) | $5.43 Billion | 5.12% | 0.99x | $1.45 Million |
| Oceana (OCE) | $1.79 Billion | 27.44% | 0.62x | $3.47 Million |
| RCL Foods Ltd (RCL) | $10.11 Billion | 8.39% | 0.95x | $4.07 Million |