SP Setia Bhd (8664) - Net Assets

Latest as of September 2025: RM15.90 Billion MYR ≈ $3.99 Billion USD

Based on the latest financial reports, SP Setia Bhd (8664) has net assets worth RM15.90 Billion MYR (≈ $3.99 Billion USD) 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 ≈ $6.78 Billion USD) and total liabilities (RM11.09 Billion ≈ $2.78 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. Check SP Setia Bhd asset resilience ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore SP Setia Bhd (8664) total assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see SP Setia Bhd (8664) market capitalisation.

Year	Net Assets	Change
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 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
Trisura Group Ltd TO:TSU	$1.44 Billion
Zhejiang Hisoar Pharmaceutical Co Ltd SHE:002099	$1.44 Billion
IGNITIS GRUPE SP.GDR/1 F:IGV	$1.45 Billion
Guangdong Sky Dragon Printing Ink Group Co Ltd SHE:300063	$1.45 Billion
Bk Harda Internasional Tbk Pt JK:BBHI	$1.44 Billion
Oil Refineries Ltd. TA:ORL	$1.44 Billion
Piper Sandler Companies NYSE:PIPR	$1.44 Billion
Arlo Technologies NYSE:ARLO	$1.44 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 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: 0.41x
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 1.14x to 0.41x 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	RM1.15	x
2005-12-31	RM1.06	RM1.15	x
2006-12-31	RM1.11	RM1.15	x
2007-12-31	RM1.19	RM1.15	x
2008-12-31	RM1.26	RM1.15	x
2009-12-31	RM1.29	RM1.15	x
2010-12-31	RM1.37	RM1.15	x
2011-12-31	RM1.85	RM1.15	x
2012-12-31	RM2.00	RM1.15	x
2013-12-31	RM2.30	RM1.15	x
2014-12-31	RM2.52	RM1.15	x
2016-12-31	RM2.85	RM1.15	x
2017-12-31	RM3.14	RM1.15	x
2018-12-31	RM3.67	RM1.15	x
2019-12-31	RM3.55	RM1.15	x
2020-12-31	RM3.42	RM1.15	x
2021-12-31	RM3.48	RM1.15	x
2022-12-31	RM3.45	RM1.15	x
2023-12-31	RM3.54	RM1.15	x
2024-12-31	RM2.80	RM1.15	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: $653,302,681
Average return on equity (ROE) among peers: 1.43%

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	$1.44 Billion
Vinvest Capital Holdings Bhd (0069)	$452.10 Million	0.97%	0.16x	$4.87 Million
Gagasan Nadi Cergas Berhad (0206)	$441.26 Million	5.73%	1.10x	$63.33 Million
Vestland Berhad (0273)	$46.45 Million	22.90%	2.63x	$135.14 Million
Global Oriental Bhd (1147)	$450.00 Million	6.67%	1.42x	$10.84 Million
Pan Malaysia Holdings Bhd (1287)	$28.01 Million	-47.59%	0.90x	$195.31 Million
GuocoLand (Malaysia) Bhd (1503)	$1.39 Billion	4.78%	1.04x	$181.65 Million
Symphony Life Bhd (1538)	$932.53 Million	6.66%	0.61x	$34.00 Million
Iskandar Waterfront City Bhd (1589)	$719.54 Million	-2.64%	0.91x	$56.66 Million
Paramount Corporation Bhd (1724)	$1.24 Billion	11.83%	1.05x	$161.05 Million
Selangor Dredging Bhd (2224)	$830.33 Million	5.04%	0.78x	$48.68 Million

About SP Setia Bhd

KLSE:8664 Malaysia Real Estate - Development

Market Cap

$1.44 Billion

RM5.75 Billion MYR

Market Cap Rank

#7619 Global

#72 in Malaysia

Share Price

RM1.15

Change (1 day)

+1.77%

52-Week Range

RM0.73 - RM1.27

All Time High

RM3.54