Vukile Property Fund Ltd
Vukile Property Fund (JSE: VKE), the leading specialist retail real estate investment trust (REIT), through its 99.5% held Spanish subsidiary Castellana Properties, has acquired the largest shopping centre in Spain's Valencia province, the iconic Bonaire Shopping Centre, from multinational retail REIT Unibail-Rodamco-Westfield. The purchase consideration of EUR 305 million represents an attractiv… Read more
Vukile Property Fund Ltd (VKE) - Net Assets
Latest net assets as of September 2025: ZAC31.29 Billion ZAC
Based on the latest financial reports, Vukile Property Fund Ltd (VKE) has net assets worth ZAC31.29 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 (ZAC58.06 Billion) and total liabilities (ZAC26.77 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 | ZAC31.29 Billion |
| % of Total Assets | 53.89% |
| Annual Growth Rate | 28.09% |
| 5-Year Change | 55.04% |
| 10-Year Change | 134.87% |
| Growth Volatility | 54.68 |
Vukile Property Fund Ltd - Net Assets Trend (2005–2025)
This chart illustrates how Vukile Property Fund 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 Vukile Property Fund Ltd (2005–2025)
The table below shows the annual net assets of Vukile Property Fund Ltd from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ZAC29.33 Billion | +22.44% |
| 2024-03-31 | ZAC23.96 Billion | +11.84% |
| 2023-03-31 | ZAC21.42 Billion | +14.86% |
| 2022-03-31 | ZAC18.65 Billion | -1.43% |
| 2021-03-31 | ZAC18.92 Billion | -2.97% |
| 2020-03-31 | ZAC19.50 Billion | -6.95% |
| 2019-03-31 | ZAC20.96 Billion | +32.20% |
| 2018-03-31 | ZAC15.85 Billion | +20.22% |
| 2017-03-31 | ZAC13.18 Billion | +5.57% |
| 2016-03-31 | ZAC12.49 Billion | +20.70% |
| 2015-03-31 | ZAC10.35 Billion | +232.84% |
| 2014-03-31 | ZAC3.11 Billion | +18.37% |
| 2013-03-31 | ZAC2.63 Billion | +47.44% |
| 2012-03-31 | ZAC1.78 Billion | +26.82% |
| 2011-03-31 | ZAC1.40 Billion | +1.67% |
| 2010-03-31 | ZAC1.38 Billion | +20.64% |
| 2009-03-31 | ZAC1.15 Billion | +4.49% |
| 2008-03-31 | ZAC1.10 Billion | +31.06% |
| 2007-03-31 | ZAC836.14 Million | +73.21% |
| 2006-03-31 | ZAC482.74 Million | +132.51% |
| 2005-03-31 | ZAC207.62 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Vukile Property Fund 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 264900000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ZAC2.65 Billion | 9.51% |
| Common Stock | ZAC17.12 Billion | 61.44% |
| Other Components | ZAC8.10 Billion | 29.05% |
| Total Equity | ZAC27.87 Billion | 100.00% |
Vukile Property Fund Ltd Competitors by Market Cap
The table below lists competitors of Vukile Property Fund Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Artemis Resources Ltd
PINK:ARTTF
|
$18.84 Million |
|
Pan Entertainment Co. Ltd
KQ:068050
|
$18.84 Million |
|
Panjawattana Plastic Public Company Limited
BK:PJW
|
$18.84 Million |
|
Cepton Inc
NASDAQ:CPTN
|
$18.84 Million |
|
AMCON Distributing Company
NYSE MKT:DIT
|
$18.83 Million |
|
Visang Educati
KO:100220
|
$18.83 Million |
|
Ting Sin Co Ltd
TW:2358
|
$18.83 Million |
|
East Africa Metals Inc
PINK:EFRMF
|
$18.83 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vukile Property Fund Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 23,803,000,000 to 27,868,000,000, a change of 4,065,000,000 (17.1%).
- Net income of 3,209,000,000 contributed positively to equity growth.
- Dividend payments of 1,486,000,000 reduced retained earnings.
- New share issuances of 2,292,000,000 increased equity.
- Other comprehensive income decreased equity by 6,765,000,000.
- Other factors increased equity by 6,815,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ZAC3.21 Billion | +11.51% |
| Dividends Paid | ZAC1.49 Billion | -5.33% |
| Share Issuances | ZAC2.29 Billion | +8.22% |
| Other Comprehensive Income | ZAC-6.76 Billion | -24.28% |
| Other Changes | ZAC6.82 Billion | +24.45% |
| Total Change | ZAC- | 17.08% |
Book Value vs Market Value Analysis
This analysis compares Vukile Property Fund 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: 95.20x
- 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 2731.51x to 95.20x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ZAC0.82 | ZAC2238.00 | x |
| 2006-03-31 | ZAC1.76 | ZAC2238.00 | x |
| 2007-03-31 | ZAC3.02 | ZAC2238.00 | x |
| 2008-03-31 | ZAC3.71 | ZAC2238.00 | x |
| 2009-03-31 | ZAC3.87 | ZAC2238.00 | x |
| 2010-03-31 | ZAC4.16 | ZAC2238.00 | x |
| 2011-03-31 | ZAC4.00 | ZAC2238.00 | x |
| 2012-03-31 | ZAC5.07 | ZAC2238.00 | x |
| 2013-03-31 | ZAC6.09 | ZAC2238.00 | x |
| 2014-03-31 | ZAC6.06 | ZAC2238.00 | x |
| 2015-03-31 | ZAC18.22 | ZAC2238.00 | x |
| 2016-03-31 | ZAC18.77 | ZAC2238.00 | x |
| 2017-03-31 | ZAC19.06 | ZAC2238.00 | x |
| 2018-03-31 | ZAC21.05 | ZAC2238.00 | x |
| 2019-03-31 | ZAC20.26 | ZAC2238.00 | x |
| 2020-03-31 | ZAC18.36 | ZAC2238.00 | x |
| 2021-03-31 | ZAC18.16 | ZAC2238.00 | x |
| 2022-03-31 | ZAC18.33 | ZAC2238.00 | x |
| 2023-03-31 | ZAC20.48 | ZAC2238.00 | x |
| 2024-03-31 | ZAC22.84 | ZAC2238.00 | x |
| 2025-03-31 | ZAC23.51 | ZAC2238.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vukile Property Fund 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): 11.51%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 70.82%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.93x
- Recent ROE (11.51%) is below the historical average (19.79%), 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 | 102.89% | 46.51% | 0.12x | 17.89x | ZAC168.35 Million |
| 2006 | 67.26% | 55.95% | 0.15x | 8.16x | ZAC270.40 Million |
| 2007 | 38.41% | 55.79% | 0.14x | 4.98x | ZAC237.53 Million |
| 2008 | 18.00% | 31.82% | 0.14x | 4.14x | ZAC87.66 Million |
| 2009 | 10.70% | 18.04% | 0.14x | 4.12x | ZAC8.05 Million |
| 2010 | 17.05% | 31.45% | 0.13x | 4.07x | ZAC97.45 Million |
| 2011 | 0.75% | 1.24% | 0.14x | 4.40x | ZAC-129.93 Million |
| 2012 | 20.69% | 35.69% | 0.15x | 3.80x | ZAC190.44 Million |
| 2013 | 21.84% | 45.90% | 0.13x | 3.60x | ZAC311.02 Million |
| 2014 | 12.27% | 24.84% | 0.13x | 3.76x | ZAC70.55 Million |
| 2015 | 15.26% | 88.18% | 0.12x | 1.48x | ZAC516.93 Million |
| 2016 | 13.29% | 67.73% | 0.13x | 1.54x | ZAC392.82 Million |
| 2017 | 11.44% | 83.16% | 0.10x | 1.34x | ZAC188.28 Million |
| 2018 | 15.23% | 118.89% | 0.09x | 1.48x | ZAC824.93 Million |
| 2019 | 9.16% | 60.30% | 0.08x | 1.88x | ZAC-156.14 Million |
| 2020 | -0.59% | -2.94% | 0.09x | 2.28x | ZAC-1.86 Billion |
| 2021 | 3.36% | 19.15% | 0.08x | 2.07x | ZAC-1.15 Billion |
| 2022 | 10.87% | 54.94% | 0.10x | 1.98x | ZAC152.20 Million |
| 2023 | 9.62% | 52.90% | 0.09x | 2.00x | ZAC-75.70 Million |
| 2024 | 6.67% | 39.84% | 0.09x | 1.86x | ZAC-793.30 Million |
| 2025 | 11.51% | 70.82% | 0.08x | 1.93x | ZAC422.20 Million |
Industry Comparison
This section compares Vukile Property Fund Ltd's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $6,152,505,552
- Average return on equity (ROE) among peers: 10.41%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vukile Property Fund Ltd (VKE) | ZAC31.29 Billion | 102.89% | 0.86x | $18.83 Million |
| Accelerate Property Fund Ltd (APF) | $7.34 Billion | 12.24% | 0.69x | $750.08K |
| Dipula Income Fund Ltd (DIB) | $7.01 Billion | 13.29% | 0.60x | $3.62 Million |
| Exemplar REITail Ltd (EXP) | $3.76 Billion | 9.62% | 0.63x | $1.63 Million |
| Fairvest Ltd (FTA) | $7.75 Billion | 1.24% | 0.63x | $18.93 Million |
| Arrowhead Properties Ltd B (FTB) | $7.75 Billion | 9.11% | 0.63x | $7.38 Million |
| Hyprop (HYP) | $4.25 Billion | 8.28% | 1.23x | $12.10 Million |
| Resilient Property Income Fund Ltd (RES) | $5.22 Billion | 19.05% | 0.91x | $14.54 Million |