SPAR Group Ltd (SPP) - Net Assets
Based on the latest financial reports, SPAR Group Ltd (SPP) has net assets worth ZAC5.31 Billion ZAC (≈ $2.82 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ZAC46.22 Billion ≈ $24.56 Million USD) and total liabilities (ZAC40.91 Billion ≈ $21.74 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 SPAR Group Ltd asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ZAC5.31 Billion |
| % of Total Assets | 11.49% |
| Annual Growth Rate | 10.28% |
| 5-Year Change | -36.6% |
| 10-Year Change | -5.86% |
| Growth Volatility | 20.9 |
SPAR Group Ltd - Net Assets Trend (2005–2025)
This chart illustrates how SPAR Group Ltd's net assets have evolved over time, based on quarterly financial data. Also explore SPP asset base for the complete picture of this company's asset base.
Annual Net Assets for SPAR Group Ltd (2005–2025)
The table below shows the annual net assets of SPAR Group Ltd from 2005 to 2025. For live valuation and market cap data, see SPP company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | ZAC5.31 Billion ≈ $2.82 Million |
-48.79% |
| 2024-09-30 | ZAC10.37 Billion ≈ $5.51 Million |
+1.49% |
| 2023-09-30 | ZAC10.22 Billion ≈ $5.43 Million |
+2.12% |
| 2022-09-30 | ZAC10.01 Billion ≈ $5.32 Million |
+19.45% |
| 2021-09-30 | ZAC8.38 Billion ≈ $4.45 Million |
+6.20% |
| 2020-09-30 | ZAC7.89 Billion ≈ $4.19 Million |
+5.66% |
| 2019-09-30 | ZAC7.47 Billion ≈ $3.97 Million |
+5.03% |
| 2018-09-30 | ZAC7.11 Billion ≈ $3.78 Million |
+8.13% |
| 2017-09-30 | ZAC6.58 Billion ≈ $3.49 Million |
+16.52% |
| 2016-09-30 | ZAC5.64 Billion ≈ $3.00 Million |
+69.54% |
| 2015-09-30 | ZAC3.33 Billion ≈ $1.77 Million |
+9.98% |
| 2014-09-30 | ZAC3.03 Billion ≈ $1.61 Million |
-4.76% |
| 2013-09-30 | ZAC3.18 Billion ≈ $1.69 Million |
+11.99% |
| 2012-09-30 | ZAC2.84 Billion ≈ $1.51 Million |
+13.98% |
| 2011-09-30 | ZAC2.49 Billion ≈ $1.32 Million |
+13.82% |
| 2010-09-30 | ZAC2.19 Billion ≈ $1.16 Million |
+12.72% |
| 2009-09-30 | ZAC1.94 Billion ≈ $1.03 Million |
+30.41% |
| 2008-09-30 | ZAC1.49 Billion ≈ $790.69K |
+34.07% |
| 2007-09-30 | ZAC1.11 Billion ≈ $589.75K |
+24.35% |
| 2006-09-30 | ZAC892.40 Million ≈ $474.26K |
+18.86% |
| 2005-09-30 | ZAC750.80 Million ≈ $399.01K |
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Equity Component Analysis
This analysis shows how different components contribute to SPAR Group 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 221.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC2.34 Billion | 44.04% |
| Common Stock | ZAC2.23 Billion | 42.01% |
| Other Comprehensive Income | ZAC742.70 Million | 13.98% |
| Total Equity | ZAC5.31 Billion | 100.00% |
SPAR Group Ltd Competitors by Market Cap
The table below lists competitors of SPAR Group Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Green Dot Corporation
NYSE:GDOT
|
$661.58 Million |
|
FinVolution Group
F:PP3
|
$661.59 Million |
|
Huali Industries
SHG:603038
|
$662.08 Million |
|
Zhejiang Jianfeng Group Co Ltd
SHG:600668
|
$662.21 Million |
|
BES Engineering Co
TW:2515
|
$661.08 Million |
|
Highpeak Energy Acquisition Corp
NASDAQ:HPK
|
$660.93 Million |
|
Beijing Hualian Department Store Co Ltd
SHE:000882
|
$660.93 Million |
|
Youyou Foods Co Ltd
SHG:603697
|
$660.90 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SPAR Group Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,373,700,000 to 5,312,300,000, a change of -5,061,400,000 (-48.8%).
- Net loss of 4,828,100,000 reduced equity.
- Share repurchases of 8,400,000 reduced equity.
- Other comprehensive income decreased equity by 271,700,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC-4.83 Billion | -90.89% |
| Share Repurchases | ZAC8.40 Million | -0.16% |
| Other Comprehensive Income | ZAC-271.70 Million | -5.11% |
| Other Changes | ZAC46.80 Million | +0.88% |
| Total Change | ZAC- | -48.79% |
Book Value vs Market Value Analysis
This analysis compares SPAR Group 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: 234.37x
- 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 1487.22x to 234.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-09-30 | ZAC4.34 | ZAC6461.00 | x |
| 2006-09-30 | ZAC5.07 | ZAC6461.00 | x |
| 2007-09-30 | ZAC6.35 | ZAC6461.00 | x |
| 2008-09-30 | ZAC8.52 | ZAC6461.00 | x |
| 2009-09-30 | ZAC11.09 | ZAC6461.00 | x |
| 2010-09-30 | ZAC12.09 | ZAC6461.00 | x |
| 2011-09-30 | ZAC13.63 | ZAC6461.00 | x |
| 2012-09-30 | ZAC15.34 | ZAC6461.00 | x |
| 2013-09-30 | ZAC17.21 | ZAC6461.00 | x |
| 2014-09-30 | ZAC16.36 | ZAC6461.00 | x |
| 2015-09-30 | ZAC17.71 | ZAC6461.00 | x |
| 2016-09-30 | ZAC31.07 | ZAC6461.00 | x |
| 2017-09-30 | ZAC33.93 | ZAC6461.00 | x |
| 2018-09-30 | ZAC36.66 | ZAC6461.00 | x |
| 2019-09-30 | ZAC38.61 | ZAC6461.00 | x |
| 2020-09-30 | ZAC41.25 | ZAC6461.00 | x |
| 2021-09-30 | ZAC42.50 | ZAC6461.00 | x |
| 2022-09-30 | ZAC50.77 | ZAC6461.00 | x |
| 2023-09-30 | ZAC53.08 | ZAC6461.00 | x |
| 2024-09-30 | ZAC53.85 | ZAC6461.00 | x |
| 2025-09-30 | ZAC27.57 | ZAC6461.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SPAR Group 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): -90.89%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -3.67%
- • Asset Turnover: 2.84x
- • Equity Multiplier: 8.70x
- Recent ROE (-90.89%) is below the historical average (27.21%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 45.63% | 2.49% | 5.08x | 3.60x | ZAC267.52 Million |
| 2006 | 45.67% | 2.37% | 4.86x | 3.96x | ZAC318.36 Million |
| 2007 | 47.13% | 2.39% | 4.33x | 4.56x | ZAC412.03 Million |
| 2008 | 45.81% | 2.53% | 4.63x | 3.92x | ZAC532.82 Million |
| 2009 | 38.41% | 2.31% | 4.93x | 3.37x | ZAC551.17 Million |
| 2010 | 41.87% | 2.63% | 4.63x | 3.44x | ZAC697.08 Million |
| 2011 | 38.26% | 2.48% | 4.63x | 3.33x | ZAC703.65 Million |
| 2012 | 37.32% | 2.45% | 4.36x | 3.49x | ZAC775.14 Million |
| 2013 | 37.46% | 2.51% | 4.84x | 3.08x | ZAC872.73 Million |
| 2014 | 44.44% | 2.47% | 3.22x | 5.60x | ZAC1.04 Billion |
| 2015 | 42.69% | 1.94% | 3.79x | 5.81x | ZAC1.09 Billion |
| 2016 | 32.16% | 2.00% | 3.32x | 4.85x | ZAC1.25 Billion |
| 2017 | 27.68% | 1.91% | 3.38x | 4.29x | ZAC1.16 Billion |
| 2018 | 25.70% | 1.81% | 3.23x | 4.40x | ZAC1.12 Billion |
| 2019 | 28.97% | 1.98% | 3.21x | 4.56x | ZAC1.42 Billion |
| 2020 | 26.06% | 1.67% | 2.36x | 6.63x | ZAC1.28 Billion |
| 2021 | 27.62% | 1.77% | 2.46x | 6.35x | ZAC1.45 Billion |
| 2022 | 22.00% | 1.59% | 2.37x | 5.84x | ZAC1.17 Billion |
| 2023 | 3.93% | 0.27% | 2.38x | 6.03x | ZAC-620.21 Million |
| 2024 | 3.39% | 0.23% | 2.57x | 5.71x | ZAC-685.47 Million |
| 2025 | -90.89% | -3.67% | 2.84x | 8.70x | ZAC-5.36 Billion |
Industry Comparison
This section compares SPAR Group Ltd's net assets metrics with peer companies in the Food Distribution industry.
Industry Context
- Industry: Food Distribution
- Average net assets among peers: $14,081,916,500
- Average return on equity (ROE) among peers: 12.56%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SPAR Group Ltd (SPP) | ZAC5.31 Billion | 45.63% | 7.70x | $661.28 Million |
| Bid Corporation Ltd (BID) | $28.09 Billion | 11.00% | 1.46x | $7.28 Billion |
| Famous Brands Ltd (FBR) | $75.66 Million | 14.13% | 0.37x | $284.63 Million |
About SPAR Group Ltd
The SPAR Group Ltd engages in the wholesale and distribution of goods and services to grocery stores and other group retail outlets in South Africa and internationally. The company offers fresh produce, in-store bakery, butchery, deli, ready-to-eat meals, home-meal replacements, groceries, general merchandise, baked foods, liquor products, building and hardware products, coffee, dispensary and he… Read more