SP Setia Bhd
S P Setia Berhad, an investment holding company, operates as a property development and investment company in Malaysia, Singapore, Australia, Vietnam, the United Kingdom, and Japan. The company operates in two segments, Property Development; and Construction, Investment Holding & Others. It develops bungalow, high-rise, terrace, semi-detached, cluster, and townhouse, as well as commercial, retail… Read more
SP Setia Bhd (8664) - Net Assets
Latest net assets as of September 2025: RM15.90 Billion MYR
Based on the latest financial reports, SP Setia Bhd (8664) has net assets worth RM15.90 Billion MYR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM26.99 Billion) and total liabilities (RM11.09 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 | RM15.90 Billion |
| % of Total Assets | 58.92% |
| Annual Growth Rate | 12.92% |
| 5-Year Change | 3.28% |
| 10-Year Change | 88.77% |
| Growth Volatility | 14.55 |
SP Setia Bhd - Net Assets Trend (2004–2024)
This chart illustrates how SP Setia Bhd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SP Setia Bhd (2004–2024)
The table below shows the annual net assets of SP Setia Bhd from 2004 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM15.84 Billion | +1.16% |
| 2023-12-31 | RM15.66 Billion | +2.06% |
| 2022-12-31 | RM15.35 Billion | -1.83% |
| 2021-12-31 | RM15.63 Billion | +1.90% |
| 2020-12-31 | RM15.34 Billion | -2.80% |
| 2019-12-31 | RM15.78 Billion | +1.69% |
| 2018-12-31 | RM15.52 Billion | +12.48% |
| 2017-12-31 | RM13.80 Billion | +34.71% |
| 2016-12-31 | RM10.24 Billion | +22.04% |
| 2015-12-31 | RM8.39 Billion | +5.51% |
| 2015-10-31 | RM7.96 Billion | +17.13% |
| 2014-12-31 | RM6.79 Billion | +22.93% |
| 2013-12-31 | RM5.52 Billion | +36.78% |
| 2012-12-31 | RM4.04 Billion | +17.43% |
| 2011-12-31 | RM3.44 Billion | +57.10% |
| 2010-12-31 | RM2.19 Billion | +7.45% |
| 2009-12-31 | RM2.04 Billion | +3.13% |
| 2008-12-31 | RM1.98 Billion | +7.29% |
| 2007-12-31 | RM1.84 Billion | +8.08% |
| 2006-12-31 | RM1.70 Billion | +8.12% |
| 2005-12-31 | RM1.58 Billion | +13.07% |
| 2004-12-31 | RM1.39 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to SP Setia Bhd'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 949.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM5.41 Billion | 37.05% |
| Common Stock | RM9.24 Billion | 63.21% |
| Total Equity | RM14.61 Billion | 100.00% |
SP Setia Bhd Competitors by Market Cap
The table below lists competitors of SP Setia Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Qinhuangdao Port Co Ltd
SHG:601326
|
$531.99 Million |
|
Family Zone Cyber Safety Limited
PINK:FMZNF
|
$532.06 Million |
|
Acrobiosystems Co.Ltd.
SHE:301080
|
$532.16 Million |
|
Shanghai Kaibao Pharmaceutical
SHE:300039
|
$532.26 Million |
|
Shandong Sinobioway Biomedicine Co Ltd
SHE:002581
|
$531.87 Million |
|
Suzhou Chunqiu Electronic Technology Co Ltd Class A
SHG:603890
|
$531.50 Million |
|
Shaanxi Yanchang Petroleum Chemical Engineering Co Ltd
SHG:600248
|
$531.33 Million |
|
Trican Well Service Ltd.
PINK:TOLWF
|
$531.32 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SP Setia Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 14,450,159,000 to 14,613,856,000, a change of 163,697,000 (1.1%).
- Net income of 575,954,000 contributed positively to equity growth.
- Dividend payments of 156,462,000 reduced retained earnings.
- Other factors decreased equity by 255,795,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM575.95 Million | +3.94% |
| Dividends Paid | RM156.46 Million | -1.07% |
| Other Changes | RM-255.79 Million | -1.75% |
| Total Change | RM- | 1.13% |
Book Value vs Market Value Analysis
This analysis compares SP Setia Bhd'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: 0.33x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.93x to 0.33x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | RM1.01 | RM0.94 | x |
| 2005-12-31 | RM1.06 | RM0.94 | x |
| 2006-12-31 | RM1.11 | RM0.94 | x |
| 2007-12-31 | RM1.19 | RM0.94 | x |
| 2008-12-31 | RM1.26 | RM0.94 | x |
| 2009-12-31 | RM1.29 | RM0.94 | x |
| 2010-12-31 | RM1.37 | RM0.94 | x |
| 2011-12-31 | RM1.85 | RM0.94 | x |
| 2012-12-31 | RM2.00 | RM0.94 | x |
| 2013-12-31 | RM2.30 | RM0.94 | x |
| 2014-12-31 | RM2.52 | RM0.94 | x |
| 2016-12-31 | RM2.85 | RM0.94 | x |
| 2017-12-31 | RM3.14 | RM0.94 | x |
| 2018-12-31 | RM3.67 | RM0.94 | x |
| 2019-12-31 | RM3.55 | RM0.94 | x |
| 2020-12-31 | RM3.42 | RM0.94 | x |
| 2021-12-31 | RM3.48 | RM0.94 | x |
| 2022-12-31 | RM3.45 | RM0.94 | x |
| 2023-12-31 | RM3.54 | RM0.94 | x |
| 2024-12-31 | RM2.80 | RM0.94 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SP Setia Bhd 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): 3.94%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.88%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 1.89x
- Recent ROE (3.94%) is below the historical average (7.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 11.57% | 15.72% | 0.39x | 1.89x | RM21.89 Million |
| 2005 | 12.92% | 16.11% | 0.52x | 1.55x | RM45.95 Million |
| 2006 | 14.11% | 20.81% | 0.44x | 1.54x | RM70.00 Million |
| 2007 | 14.13% | 22.54% | 0.40x | 1.57x | RM75.98 Million |
| 2008 | 10.81% | 16.07% | 0.40x | 1.68x | RM15.92 Million |
| 2009 | 8.41% | 12.16% | 0.36x | 1.94x | RM-32.49 Million |
| 2010 | 11.50% | 14.42% | 0.40x | 2.00x | RM32.88 Million |
| 2011 | 9.36% | 14.44% | 0.40x | 1.62x | RM-22.21 Million |
| 2012 | 9.74% | 15.59% | 0.27x | 2.31x | RM-10.57 Million |
| 2013 | 7.56% | 13.65% | 0.25x | 2.25x | RM-134.70 Million |
| 2014 | 6.26% | 10.65% | 0.29x | 2.02x | RM-242.48 Million |
| 2016 | 8.24% | 16.30% | 0.27x | 1.90x | RM-173.11 Million |
| 2017 | 7.43% | 20.64% | 0.16x | 2.21x | RM-322.59 Million |
| 2018 | 4.74% | 18.67% | 0.12x | 2.07x | RM-743.42 Million |
| 2019 | 2.40% | 8.75% | 0.13x | 2.09x | RM-1.09 Billion |
| 2020 | -1.76% | -7.57% | 0.11x | 2.18x | RM-1.64 Billion |
| 2021 | 2.01% | 7.56% | 0.12x | 2.20x | RM-1.13 Billion |
| 2022 | 2.16% | 6.83% | 0.15x | 2.12x | RM-1.10 Billion |
| 2023 | 2.07% | 6.83% | 0.15x | 2.01x | RM-1.15 Billion |
| 2024 | 3.94% | 10.88% | 0.19x | 1.89x | RM-885.43 Million |
Industry Comparison
This section compares SP Setia Bhd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $565,025,416
- Average return on equity (ROE) among peers: 6.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SP Setia Bhd (8664) | RM15.90 Billion | 11.57% | 0.70x | $531.90 Million |
| Vinvest Capital Holdings Bhd (0069) | $581.54 Million | 0.67% | 0.36x | $2.71 Million |
| Gagasan Nadi Cergas Berhad (0206) | $442.13 Million | -0.76% | 1.23x | $7.59 Million |
| Vestland Berhad (0273) | $46.45 Million | 22.90% | 2.63x | $15.49 Million |
| KTI (0308) | $127.30 Million | 12.27% | 0.83x | $5.35 Million |
| Global Oriental Bhd (1147) | $255.86 Million | 5.65% | 2.56x | $4.63 Million |
| GuocoLand (Malaysia) Bhd (1503) | $892.00 Million | 4.71% | 1.18x | $21.92 Million |
| Symphony Life Bhd (1538) | $916.62 Million | -0.87% | 0.32x | $11.92 Million |
| Iskandar Waterfront City Bhd (1589) | $812.33 Million | 5.62% | 1.19x | $27.36 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $69.73 Million |
| Selangor Dredging Bhd (2224) | $849.02 Million | 2.88% | 0.71x | $9.77 Million |