Spear REIT Ltd (SEA) - Net Assets

Latest as of August 2025: ZAC4.80 Billion ZAC ≈ $2.55 Million USD

Based on the latest financial reports, Spear REIT Ltd (SEA) has net assets worth ZAC4.80 Billion ZAC (≈ $2.55 Million USD) as of August 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC6.52 Billion ≈ $3.47 Million USD) and total liabilities (ZAC1.72 Billion ≈ $914.99K 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 SEA asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric Value
Current Net Assets ZAC4.80 Billion
% of Total Assets 73.61%
Annual Growth Rate 18.82%
5-Year Change 64.0%
10-Year Change N/A
Growth Volatility 31.14

Spear REIT Ltd - Net Assets Trend (2017–2025)

This chart illustrates how Spear REIT Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Spear REIT Ltd (SEA) total assets for the complete picture of this company's asset base.

Annual Net Assets for Spear REIT Ltd (2017–2025)

The table below shows the annual net assets of Spear REIT Ltd from 2017 to 2025. For live valuation and market cap data, see Spear REIT Ltd (SEA) total market value.

Year Net Assets Change
2025-02-28 ZAC3.92 Billion
≈ $2.08 Million		 +27.28%
2024-02-29 ZAC3.08 Billion
≈ $1.64 Million		 +18.16%
2023-02-28 ZAC2.61 Billion
≈ $1.39 Million		 -2.46%
2022-02-28 ZAC2.67 Billion
≈ $1.42 Million		 +11.79%
2021-02-28 ZAC2.39 Billion
≈ $1.27 Million		 -5.12%
2020-02-29 ZAC2.52 Billion
≈ $1.34 Million		 +7.27%
2019-02-28 ZAC2.35 Billion
≈ $1.25 Million		 +19.18%
2018-02-28 ZAC1.97 Billion
≈ $1.05 Million		 +99.78%
2017-02-28 ZAC986.81 Million
≈ $524.44K		 --

Equity Component Analysis

This analysis shows how different components contribute to Spear REIT 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 1362.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (February 2025)

Component Amount Percentage
Retained Earnings ZAC955.55 Million 24.45%
Common Stock ZAC2.94 Billion 75.11%
Other Comprehensive Income ZAC17.21 Million 0.44%
Total Equity ZAC3.91 Billion 100.00%

Spear REIT Ltd Competitors by Market Cap

The table below lists competitors of Spear REIT Ltd ranked by their market capitalization.

Company Market Cap
Xiwang Foodstuffs Co Ltd
SHE:000639
 $284.32 Million
JINMAO PROPERTY SERVICES
F:TZ0
 $284.34 Million
BROOGE ENERGY DL-0001
F:3SF
 $284.43 Million
Ares Commercial Real Estate
NYSE:ACRE
 $284.59 Million
TSC Auto ID Technology Co Ltd
TWO:3611
 $284.25 Million
Text S.A.
WAR:TXT
 $284.18 Million
Palladyne AI Corp
NASDAQ:PDYN
 $284.08 Million
GABIA Inc
KQ:079940
 $284.01 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Spear REIT Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 3,068,045,000 to 3,908,570,000, a change of 840,525,000 (27.4%).
  • Net income of 525,120,000 contributed positively to equity growth.
  • Dividend payments of 230,902,000 reduced retained earnings.
  • Share repurchases of 4,820,000 reduced equity.
  • New share issuances of 541,548,000 increased equity.
  • Other comprehensive income increased equity by 4,456,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income ZAC525.12 Million +13.44%
Dividends Paid ZAC230.90 Million -5.91%
Share Repurchases ZAC4.82 Million -0.12%
Share Issuances ZAC541.55 Million +13.86%
Other Comprehensive Income ZAC4.46 Million +0.11%
Other Changes ZAC5.12 Million +0.13%
Total Change ZAC- 27.40%

Book Value vs Market Value Analysis

This analysis compares Spear REIT 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: 97.38x
  • 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 33.77x to 97.38x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2017-02-28 ZAC38.49 ZAC1300.00 x
2018-02-28 ZAC13.59 ZAC1300.00 x
2019-02-28 ZAC12.72 ZAC1300.00 x
2020-02-29 ZAC12.20 ZAC1300.00 x
2021-02-28 ZAC11.40 ZAC1300.00 x
2022-02-28 ZAC12.23 ZAC1300.00 x
2023-02-28 ZAC11.00 ZAC1300.00 x
2024-02-29 ZAC13.39 ZAC1300.00 x
2025-02-28 ZAC13.35 ZAC1300.00 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Spear REIT 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): 13.44%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 76.10%
  • • Asset Turnover: 0.12x
  • • Equity Multiplier: 1.44x
  • Recent ROE (13.44%) is above the historical average (9.73%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2017 6.62% 110.40% 0.04x 1.51x ZAC-33.35 Million
2018 19.99% 126.03% 0.09x 1.68x ZAC191.45 Million
2019 11.78% 63.45% 0.11x 1.71x ZAC40.84 Million
2020 8.47% 39.89% 0.12x 1.76x ZAC-37.42 Million
2021 2.23% 9.99% 0.12x 1.93x ZAC-184.22 Million
2022 6.22% 28.71% 0.13x 1.71x ZAC-100.08 Million
2023 7.02% 31.41% 0.14x 1.64x ZAC-77.24 Million
2024 11.82% 58.90% 0.13x 1.52x ZAC55.94 Million
2025 13.44% 76.10% 0.12x 1.44x ZAC134.26 Million

Industry Comparison

This section compares Spear REIT Ltd's net assets metrics with peer companies in the REIT - Diversified industry.

Industry Context

  • Industry: REIT - Diversified
  • Average net assets among peers: $14,940,838,210
  • Average return on equity (ROE) among peers: 9.39%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Spear REIT Ltd (SEA) ZAC4.80 Billion 6.62% 0.36x $284.26 Million
aReit Prop Ltd (APO) $913.92 Million -1.01% 0.00x $158.90K
Attacq (ATT) $11.11 Billion 1.39% 1.03x $615.11 Million
Burstone Group Limited (BTN) $13.01 Billion 1.50% 0.95x $399.32 Million
Emira Property Fund (EMI) $8.84 Billion 8.06% 0.67x $358.45 Million
Growthpoint Properties Ltd (GRT) $91.25 Billion 2.58% 0.88x $2.93 Billion
Oasis Crescent Property Fund (OAS) $1.37 Billion 11.30% 0.04x $1.00 Million
Octodec (OCT) $6.57 Billion 7.48% 0.75x $229.46 Million
Redefine Properties Ltd (RDF) $1.24 Billion 56.64% 2.22x $2.29 Billion
Rebosis Property Fund Ltd (REA) $10.46 Billion -8.83% 1.08x $3.23 Million
Rebosis (REB) $4.64 Billion 14.78% 0.69x $5.93 Million

About Spear REIT Ltd

JSE:SEA South Africa REIT - Diversified
Market Cap
$284.26 Million
ZAC534.88 Billion ZAC
Market Cap Rank
#15220 Global
#116 in South Africa
Share Price
ZAC1300.00
Change (1 day)
+0.78%
52-Week Range
ZAC952.00 - ZAC1350.00
All Time High
ZAC1350.00
Categories
Companies in South Africa REIT - Diversified
About

Spear REIT Limited listed as a Real Estate Investment Trust on the main board of the Johannesburg Stock Exchange and is the only regionally focused REIT listed on the JSE that invests in high-quality income generating assets in the Western Cape. Spear obtains its diversification through asset type rather than geographical investment. The company conducts its business directly and through a few su… Read more