SA Corporate Real Estate Fund Managers Ltd (SAC) - Net Assets
Based on the latest financial reports, SA Corporate Real Estate Fund Managers Ltd (SAC) has net assets worth ZAC11.36 Billion ZAC (≈ $6.04 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC20.27 Billion ≈ $10.77 Million USD) and total liabilities (ZAC8.91 Billion ≈ $4.73 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 SA Corporate Real Estate Fund Managers L (SAC) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ZAC11.36 Billion |
| % of Total Assets | 56.06% |
| Annual Growth Rate | 10.16% |
| 5-Year Change | 10.59% |
| 10-Year Change | 11.83% |
| Growth Volatility | 57.44 |
SA Corporate Real Estate Fund Managers Ltd - Net Assets Trend (2005–2024)
This chart illustrates how SA Corporate Real Estate Fund Managers Ltd's net assets have evolved over time, based on quarterly financial data. Also explore total assets of SA Corporate Real Estate Fund Managers L for the complete picture of this company's asset base.
Annual Net Assets for SA Corporate Real Estate Fund Managers Ltd (2005–2024)
The table below shows the annual net assets of SA Corporate Real Estate Fund Managers Ltd from 2005 to 2024. For live valuation and market cap data, see SA Corporate Real Estate Fund Managers L stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ZAC11.16 Billion ≈ $5.93 Million |
+1.15% |
| 2023-12-31 | ZAC11.03 Billion ≈ $5.86 Million |
+6.92% |
| 2022-12-31 | ZAC10.32 Billion ≈ $5.48 Million |
+2.53% |
| 2021-12-31 | ZAC10.07 Billion ≈ $5.35 Million |
-0.26% |
| 2020-12-31 | ZAC10.09 Billion ≈ $5.36 Million |
-15.83% |
| 2019-12-31 | ZAC11.99 Billion ≈ $6.37 Million |
-6.76% |
| 2018-12-31 | ZAC12.86 Billion ≈ $6.84 Million |
-1.13% |
| 2017-12-31 | ZAC13.01 Billion ≈ $6.91 Million |
+7.78% |
| 2016-12-31 | ZAC12.07 Billion ≈ $6.41 Million |
+20.93% |
| 2015-12-31 | ZAC9.98 Billion ≈ $5.30 Million |
+31.27% |
| 2014-12-31 | ZAC7.60 Billion ≈ $4.04 Million |
+4.44% |
| 2013-12-31 | ZAC7.28 Billion ≈ $3.87 Million |
+4.40% |
| 2012-12-31 | ZAC6.97 Billion ≈ $3.71 Million |
+0.08% |
| 2011-12-31 | ZAC6.97 Billion ≈ $3.70 Million |
-2.22% |
| 2010-12-31 | ZAC7.13 Billion ≈ $3.79 Million |
+4.97% |
| 2009-12-31 | ZAC6.79 Billion ≈ $3.61 Million |
-6.51% |
| 2008-12-31 | ZAC7.26 Billion ≈ $3.86 Million |
-13.90% |
| 2007-12-31 | ZAC8.43 Billion ≈ $4.48 Million |
+254.99% |
| 2006-12-31 | ZAC2.38 Billion ≈ $1.26 Million |
+33.84% |
| 2005-12-31 | ZAC1.77 Billion ≈ $943.28K |
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Equity Component Analysis
This analysis shows how different components contribute to SA Corporate Real Estate Fund Managers 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 96575000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC965.75 Million | 8.65% |
| Common Stock | ZAC9.11 Billion | 81.64% |
| Other Comprehensive Income | ZAC1.08 Billion | 9.71% |
| Total Equity | ZAC11.16 Billion | 100.00% |
SA Corporate Real Estate Fund Managers Ltd Competitors by Market Cap
The table below lists competitors of SA Corporate Real Estate Fund Managers Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
John Mattson Fastighetsforetagen AB
ST:JOMA
|
$480.43 Million |
|
Faraday Copper Corp.
TO:FDY
|
$480.47 Million |
|
Jiangxi Synergy Pharmaceutical Co Ltd
SHE:300636
|
$480.56 Million |
|
LASSONDE INDUST.INC. A
F:0OO
|
$480.79 Million |
|
Tejon Ranch Co
NYSE:TRC
|
$480.33 Million |
|
Carter Bank and Trust
NASDAQ:CARE
|
$480.17 Million |
|
Zilltek Technology Corp
TWO:6679
|
$480.15 Million |
|
Greenlight Capital Re Ltd
NASDAQ:GLRE
|
$480.14 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SA Corporate Real Estate Fund Managers Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 11,034,900,000 to 11,161,400,000, a change of 126,500,000 (1.1%).
- Net income of 645,830,000 contributed positively to equity growth.
- Dividend payments of 601,173,000 reduced retained earnings.
- Share repurchases of 29,643,000 reduced equity.
- Other comprehensive income decreased equity by 51,083,000.
- Other factors increased equity by 162,569,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC645.83 Million | +5.79% |
| Dividends Paid | ZAC601.17 Million | -5.39% |
| Share Repurchases | ZAC29.64 Million | -0.27% |
| Other Comprehensive Income | ZAC-51.08 Million | -0.46% |
| Other Changes | ZAC162.57 Million | +1.46% |
| Total Change | ZAC- | 1.15% |
Book Value vs Market Value Analysis
This analysis compares SA Corporate Real Estate Fund Managers 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: 74.35x
- 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 135.39x to 74.35x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | ZAC2.44 | ZAC330.00 | x |
| 2007-12-31 | ZAC5.76 | ZAC330.00 | x |
| 2008-12-31 | ZAC3.43 | ZAC330.00 | x |
| 2009-12-31 | ZAC3.24 | ZAC330.00 | x |
| 2010-12-31 | ZAC3.41 | ZAC330.00 | x |
| 2011-12-31 | ZAC3.33 | ZAC330.00 | x |
| 2012-12-31 | ZAC3.38 | ZAC330.00 | x |
| 2013-12-31 | ZAC3.65 | ZAC330.00 | x |
| 2014-12-31 | ZAC3.81 | ZAC330.00 | x |
| 2015-12-31 | ZAC4.91 | ZAC330.00 | x |
| 2016-12-31 | ZAC5.20 | ZAC330.00 | x |
| 2017-12-31 | ZAC5.26 | ZAC330.00 | x |
| 2018-12-31 | ZAC5.09 | ZAC330.00 | x |
| 2019-12-31 | ZAC4.75 | ZAC330.00 | x |
| 2020-12-31 | ZAC4.01 | ZAC330.00 | x |
| 2021-12-31 | ZAC4.05 | ZAC330.00 | x |
| 2022-12-31 | ZAC4.14 | ZAC330.00 | x |
| 2023-12-31 | ZAC4.43 | ZAC330.00 | x |
| 2024-12-31 | ZAC4.44 | ZAC330.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SA Corporate Real Estate Fund Managers 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): 5.79%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.96%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 1.86x
- Recent ROE (5.79%) is below the historical average (8.77%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 30.69% | 189.00% | 0.14x | 1.16x | ZAC367.22 Million |
| 2007 | 12.91% | 148.04% | 0.07x | 1.17x | ZAC245.32 Million |
| 2008 | -7.20% | -51.04% | 0.11x | 1.33x | ZAC-1.25 Billion |
| 2009 | 2.15% | 13.37% | 0.12x | 1.33x | ZAC-532.89 Million |
| 2010 | 11.96% | 97.72% | 0.09x | 1.32x | ZAC139.57 Million |
| 2011 | 5.95% | 33.58% | 0.13x | 1.34x | ZAC-282.02 Million |
| 2012 | 10.56% | 59.99% | 0.14x | 1.25x | ZAC39.30 Million |
| 2013 | 15.93% | 97.72% | 0.13x | 1.30x | ZAC431.37 Million |
| 2014 | 12.72% | 68.65% | 0.12x | 1.49x | ZAC206.86 Million |
| 2015 | 14.16% | 87.56% | 0.11x | 1.42x | ZAC415.55 Million |
| 2016 | 20.55% | 135.29% | 0.11x | 1.41x | ZAC1.27 Billion |
| 2017 | 11.73% | 72.17% | 0.11x | 1.49x | ZAC224.79 Million |
| 2018 | 6.58% | 36.71% | 0.11x | 1.58x | ZAC-440.01 Million |
| 2019 | 1.96% | 10.32% | 0.12x | 1.65x | ZAC-963.57 Million |
| 2020 | -14.80% | -72.43% | 0.11x | 1.79x | ZAC-2.50 Billion |
| 2021 | 6.17% | 29.27% | 0.12x | 1.70x | ZAC-385.75 Million |
| 2022 | 7.94% | 40.11% | 0.12x | 1.70x | ZAC-212.77 Million |
| 2023 | 10.96% | 47.65% | 0.13x | 1.81x | ZAC105.47 Million |
| 2024 | 5.79% | 21.96% | 0.14x | 1.86x | ZAC-470.31 Million |
Industry Comparison
This section compares SA Corporate Real Estate Fund Managers Ltd's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $8,062,164,010
- Average return on equity (ROE) among peers: 4.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SA Corporate Real Estate Fund Managers Ltd (SAC) | ZAC11.36 Billion | 30.69% | 0.78x | $480.33 Million |
| aReit Prop Ltd (APO) | $913.92 Million | -1.01% | 0.00x | $158.90K |
| Attacq (ATT) | $10.13 Billion | 10.00% | 0.82x | $618.83 Million |
| Burstone Group Limited (BTN) | $6.62 Billion | 13.37% | 0.34x | $398.89 Million |
| Emira Property Fund (EMI) | $6.59 Billion | 21.87% | 0.53x | $352.49 Million |
| Growthpoint Properties Ltd (GRT) | $1.44 Billion | -4.81% | 21.54x | $2.94 Billion |
| Oasis Crescent Property Fund (OAS) | $1.81 Billion | 15.72% | 0.03x | $1.00 Million |
| Octodec (OCT) | $6.42 Billion | -13.88% | 0.87x | $238.94 Million |
| Redefine Properties Ltd (RDF) | $35.74 Billion | 9.54% | 0.61x | $2.34 Billion |
| Rebosis Property Fund Ltd (REA) | $3.19 Billion | -9.14% | 3.24x | $3.23 Million |
| Rebosis (REB) | $7.78 Billion | 7.84% | 0.96x | $5.93 Million |
About SA Corporate Real Estate Fund Managers Ltd
SA Corporate is a JSE-listed Real Estate Investment Trust ("REIT") and together with its subsidiaries ("the Group") owns a focused portfolio of quality industrial, retail and residential properties located primarily in the major metropolitan areas of South Africa with a secondary node in Zambia. As at 30 June 2025, the property portfolio consisted of 250 properties, with 1 655 326m2 of gross lett… Read more