SP Setia Bhd (8664) - Net Assets
Based on the latest financial reports, SP Setia Bhd (8664) has net assets worth RM15.96 Billion MYR (≈ $4.01 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM26.72 Billion ≈ $6.71 Billion USD) and total liabilities (RM10.75 Billion ≈ $2.70 Billion 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. For live market cap and overall valuation, see SP Setia Bhd market cap and net worth.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM15.96 Billion |
| % of Total Assets | 59.75% |
| Annual Growth Rate | 12.35% |
| 5-Year Change | 2.92% |
| 10-Year Change | 57.07% |
| Growth Volatility | 14.42 |
SP Setia Bhd - Net Assets Trend (2004–2025)
This chart illustrates how SP Setia Bhd's net assets have evolved over time, based on quarterly financial data.
Annual Net Assets for SP Setia Bhd (2004–2025)
The table below shows the annual net assets of SP Setia Bhd from 2004 to 2025. See 8664 equity to assets ratio to measure how much of total assets are equity-financed.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM16.09 Billion ≈ $4.04 Billion |
+1.55% |
| 2024-12-31 | RM15.84 Billion ≈ $3.98 Billion |
+1.16% |
| 2023-12-31 | RM15.66 Billion ≈ $3.93 Billion |
+2.06% |
| 2022-12-31 | RM15.35 Billion ≈ $3.85 Billion |
-1.83% |
| 2021-12-31 | RM15.63 Billion ≈ $3.92 Billion |
+1.90% |
| 2020-12-31 | RM15.34 Billion ≈ $3.85 Billion |
-2.80% |
| 2019-12-31 | RM15.78 Billion ≈ $3.96 Billion |
+1.69% |
| 2018-12-31 | RM15.52 Billion ≈ $3.90 Billion |
+12.48% |
| 2017-12-31 | RM13.80 Billion ≈ $3.46 Billion |
+34.71% |
| 2016-12-31 | RM10.24 Billion ≈ $2.57 Billion |
+22.04% |
| 2015-12-31 | RM8.39 Billion ≈ $2.11 Billion |
+5.51% |
| 2015-10-31 | RM7.96 Billion ≈ $2.00 Billion |
+17.13% |
| 2014-12-31 | RM6.79 Billion ≈ $1.71 Billion |
+22.93% |
| 2013-12-31 | RM5.52 Billion ≈ $1.39 Billion |
+36.78% |
| 2012-12-31 | RM4.04 Billion ≈ $1.01 Billion |
+17.43% |
| 2011-12-31 | RM3.44 Billion ≈ $863.54 Million |
+57.10% |
| 2010-12-31 | RM2.19 Billion ≈ $549.67 Million |
+7.45% |
| 2009-12-31 | RM2.04 Billion ≈ $511.57 Million |
+3.13% |
| 2008-12-31 | RM1.98 Billion ≈ $496.03 Million |
+7.29% |
| 2007-12-31 | RM1.84 Billion ≈ $462.31 Million |
+8.08% |
| 2006-12-31 | RM1.70 Billion ≈ $427.75 Million |
+8.12% |
| 2005-12-31 | RM1.58 Billion ≈ $395.61 Million |
+13.07% |
| 2004-12-31 | RM1.39 Billion ≈ $349.88 Million |
-- |
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 753.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM4.40 Billion | 29.75% |
| Common Stock | RM9.24 Billion | 62.44% |
| Other Comprehensive Income | RM-133.72 Million | -0.90% |
| Other Components | RM1.29 Billion | 8.72% |
| Total Equity | RM14.80 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 |
|---|---|
|
Arcos Dorados Holdings Inc
NYSE:ARCO
|
$1.04 Billion |
|
Charoen Pokphand Enterprise Taiwan Co Ltd
TW:1215
|
$1.04 Billion |
|
Altareit
PA:AREIT
|
$1.04 Billion |
|
Guizhou Gas Group Corporation Ltd Class A
SHG:600903
|
$1.04 Billion |
|
Helix Energy Solutions Group Inc
NYSE:HLX
|
$1.04 Billion |
|
Cangzhou Mingzhu Plastic Co Ltd
SHE:002108
|
$1.04 Billion |
|
Suzhou Shihua New Material Technology Co Ltd
SHG:688093
|
$1.04 Billion |
|
Hangzhou Greenda Electronic Materials Co Ltd
SHG:603931
|
$1.04 Billion |
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 2024 to 2025, total equity changed from 14,613,856,000 to 14,797,842,000, a change of 183,986,000 (1.3%).
- Net income of 509,955,000 contributed positively to equity growth.
- Dividend payments of 227,616,000 reduced retained earnings.
- Other comprehensive income decreased equity by 133,723,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM509.95 Million | +3.45% |
| Dividends Paid | RM227.62 Million | -1.54% |
| Other Comprehensive Income | RM-133.72 Million | -0.9% |
| Other Changes | RM35.37 Million | +0.24% |
| Total Change | RM- | 1.26% |
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: 0.29x
- 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 0.81x to 0.29x 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 | RM0.82 | x |
| 2005-12-31 | RM1.06 | RM0.82 | x |
| 2006-12-31 | RM1.11 | RM0.82 | x |
| 2007-12-31 | RM1.19 | RM0.82 | x |
| 2008-12-31 | RM1.26 | RM0.82 | x |
| 2009-12-31 | RM1.29 | RM0.82 | x |
| 2010-12-31 | RM1.37 | RM0.82 | x |
| 2011-12-31 | RM1.85 | RM0.82 | x |
| 2012-12-31 | RM2.00 | RM0.82 | x |
| 2013-12-31 | RM2.30 | RM0.82 | x |
| 2014-12-31 | RM2.52 | RM0.82 | x |
| 2016-12-31 | RM2.85 | RM0.82 | x |
| 2017-12-31 | RM3.14 | RM0.82 | x |
| 2018-12-31 | RM3.67 | RM0.82 | x |
| 2019-12-31 | RM3.55 | RM0.82 | x |
| 2020-12-31 | RM3.42 | RM0.82 | x |
| 2021-12-31 | RM3.48 | RM0.82 | x |
| 2022-12-31 | RM3.45 | RM0.82 | x |
| 2023-12-31 | RM3.54 | RM0.82 | x |
| 2024-12-31 | RM2.80 | RM0.82 | x |
| 2025-12-31 | RM2.81 | RM0.82 | 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): 3.45%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.09%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.83x
- Recent ROE (3.45%) is below the historical average (7.19%), 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 |
| 2025 | 3.45% | 12.09% | 0.16x | 1.83x | RM-969.83 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: $547,428,769
- Average return on equity (ROE) among peers: 3.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SP Setia Bhd (8664) | RM15.96 Billion | 11.57% | 0.67x | $1.04 Billion |
| Vinvest Capital Holdings Bhd (0069) | $438.33 Million | -22.41% | 0.32x | $4.87 Million |
| Gagasan Nadi Cergas Berhad (0206) | $442.13 Million | -0.76% | 1.23x | $58.61 Million |
| Vestland Berhad (0273) | $71.56 Million | 35.09% | 2.17x | $203.89 Million |
| Global Oriental Bhd (1147) | $246.89 Million | 2.10% | 2.00x | $10.84 Million |
| Pan Malaysia Holdings Bhd (1287) | $41.34 Million | -1.94% | 0.66x | $268.19 Million |
| GuocoLand (Malaysia) Bhd (1503) | $1.40 Billion | 1.35% | 0.91x | $3.35 Million |
| Symphony Life Bhd (1538) | $596.00 Million | 7.21% | 0.88x | $30.60 Million |
| Iskandar Waterfront City Bhd (1589) | $700.87 Million | -2.61% | 0.91x | $53.19 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $159.48 Million |
| Selangor Dredging Bhd (2224) | $813.78 Million | 5.29% | 0.88x | $50.28 Million |
About 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