Derwent London PLC (DLN) - Net Assets
Based on the latest financial reports, Derwent London PLC (DLN) has net assets worth GBX3.62 Billion GBX (≈ $440.16K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX5.31 Billion ≈ $646.52K USD) and total liabilities (GBX1.70 Billion ≈ $206.37K 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 DLN tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX3.62 Billion |
| % of Total Assets | 68.08% |
| Annual Growth Rate | 17.35% |
| 5-Year Change | -18.56% |
| 10-Year Change | -9.55% |
| Growth Volatility | 74.57 |
Derwent London PLC - Net Assets Trend (1985–2025)
This chart illustrates how Derwent London PLC's net assets have evolved over time, based on quarterly financial data. See Derwent London PLC (DLN) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Derwent London PLC (1985–2025)
The table below shows the annual net assets of Derwent London PLC from 1985 to 2025. For live valuation and market cap data, see DLN stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | GBX3.62 Billion ≈ $440.16K |
+2.20% |
| 2024-12-31 | GBX3.54 Billion ≈ $430.69K |
+0.88% |
| 2023-12-31 | GBX3.51 Billion ≈ $426.92K |
-13.91% |
| 2022-12-31 | GBX4.08 Billion ≈ $495.87K |
-8.25% |
| 2021-12-31 | GBX4.44 Billion ≈ $540.44K |
+2.94% |
| 2020-12-31 | GBX4.32 Billion ≈ $525.02K |
-3.61% |
| 2019-12-31 | GBX4.48 Billion ≈ $544.71K |
+5.01% |
| 2018-12-31 | GBX4.26 Billion ≈ $518.73K |
+1.67% |
| 2017-12-31 | GBX4.19 Billion ≈ $510.19K |
+4.85% |
| 2016-12-31 | GBX4.00 Billion ≈ $486.61K |
+0.10% |
| 2015-12-31 | GBX4.00 Billion ≈ $486.12K |
+29.90% |
| 2014-12-31 | GBX3.08 Billion ≈ $374.22K |
+29.75% |
| 2013-12-31 | GBX2.37 Billion ≈ $288.42K |
+23.59% |
| 2012-12-31 | GBX1.92 Billion ≈ $233.37K |
+11.87% |
| 2011-12-31 | GBX1.71 Billion ≈ $208.61K |
+14.71% |
| 2010-12-31 | GBX1.49 Billion ≈ $181.86K |
+28.42% |
| 2009-12-31 | GBX1.16 Billion ≈ $141.61K |
-4.21% |
| 2008-12-31 | GBX1.22 Billion ≈ $147.83K |
-34.04% |
| 2007-12-31 | GBX1.84 Billion ≈ $224.11K |
+135.12% |
| 2006-12-31 | GBX783.40 Million ≈ $95.32K |
+29.23% |
| 2005-12-31 | GBX606.20 Million ≈ $73.76K |
+22.34% |
| 2004-12-31 | GBX495.50 Million ≈ $60.29K |
+3.75% |
| 2003-12-31 | GBX477.60 Million ≈ $58.11K |
-6.72% |
| 2002-12-31 | GBX512.00 Million ≈ $62.30K |
-4.07% |
| 2001-12-31 | GBX533.70 Million ≈ $64.94K |
+15.44% |
| 2000-12-31 | GBX462.30 Million ≈ $56.25K |
+20.96% |
| 1999-12-31 | GBX382.20 Million ≈ $46.50K |
+19.85% |
| 1998-12-31 | GBX318.90 Million ≈ $38.80K |
+49.30% |
| 1997-12-31 | GBX213.60 Million ≈ $25.99K |
+37.45% |
| 1996-12-31 | GBX155.40 Million ≈ $18.91K |
+17.57% |
| 1995-12-31 | GBX132.17 Million ≈ $16.08K |
+36.62% |
| 1994-12-31 | GBX96.75 Million ≈ $11.77K |
+52.62% |
| 1993-12-31 | GBX63.39 Million ≈ $7.71K |
+52.81% |
| 1992-12-31 | GBX41.48 Million ≈ $5.05K |
-28.18% |
| 1991-12-31 | GBX57.76 Million ≈ $7.03K |
-20.61% |
| 1990-12-31 | GBX72.75 Million ≈ $8.85K |
-13.61% |
| 1989-12-31 | GBX84.21 Million ≈ $10.25K |
+33.24% |
| 1988-12-31 | GBX63.21 Million ≈ $7.69K |
+39.18% |
| 1987-12-31 | GBX45.41 Million ≈ $5.53K |
+457.54% |
| 1986-12-31 | GBX8.14 Million ≈ $991.01 |
+35.37% |
| 1985-12-31 | GBX6.02 Million ≈ $732.09 |
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Equity Component Analysis
This analysis shows how different components contribute to Derwent London PLC'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 323071.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX2.47 Billion | 68.20% |
| Common Stock | GBX5.60 Million | 0.15% |
| Other Components | GBX1.14 Billion | 31.64% |
| Total Equity | GBX3.62 Billion | 100.00% |
Derwent London PLC Competitors by Market Cap
The table below lists competitors of Derwent London PLC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
LakeShore Biopharma Co., Ltd
NASDAQ:LSB
|
$25.84 Million |
|
Mawson Infrastructure Group Inc
NASDAQ:MIGI
|
$25.84 Million |
|
Compagnie de Chemins de Fer Départementaux Société Anonyme
PA:MLCFD
|
$25.85 Million |
|
Atec T& Co. Ltd
KQ:224110
|
$25.85 Million |
|
Asiamet Resources Ltd
F:0FK
|
$25.79 Million |
|
Nova Agritech Ltd.
NSE:NOVAAGRI
|
$25.79 Million |
|
Helport AI Limited Ordinary Shares
NASDAQ:HPAI
|
$25.79 Million |
|
Renta Corporacion Real Estate SA
MC:REN
|
$25.78 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Derwent London PLC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,539,800,000 to 3,615,300,000, a change of 75,500,000 (2.1%).
- Net income of 161,100,000 contributed positively to equity growth.
- Dividend payments of 90,800,000 reduced retained earnings.
- Other comprehensive income decreased equity by 32,700,000.
- Other factors increased equity by 37,900,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX161.10 Million | +4.46% |
| Dividends Paid | GBX90.80 Million | -2.51% |
| Other Comprehensive Income | GBX-32.70 Million | -0.9% |
| Other Changes | GBX37.90 Million | +1.05% |
| Total Change | GBX- | 2.13% |
Book Value vs Market Value Analysis
This analysis compares Derwent London PLC'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: 58.71x
- 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 2232.54x to 58.71x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | GBX0.85 | GBX1891.00 | x |
| 1986-12-31 | GBX0.11 | GBX1891.00 | x |
| 1987-12-31 | GBX3.79 | GBX1891.00 | x |
| 1988-12-31 | GBX3.73 | GBX1891.00 | x |
| 1989-12-31 | GBX4.97 | GBX1891.00 | x |
| 1990-12-31 | GBX4.30 | GBX1891.00 | x |
| 1991-12-31 | GBX3.41 | GBX1891.00 | x |
| 1992-12-31 | GBX2.45 | GBX1891.00 | x |
| 1993-12-31 | GBX3.12 | GBX1891.00 | x |
| 1994-12-31 | GBX3.28 | GBX1891.00 | x |
| 1995-12-31 | GBX4.02 | GBX1891.00 | x |
| 1996-12-31 | GBX3.93 | GBX1891.00 | x |
| 1997-12-31 | GBX5.05 | GBX1891.00 | x |
| 1998-12-31 | GBX6.07 | GBX1891.00 | x |
| 1999-12-31 | GBX7.20 | GBX1891.00 | x |
| 2000-12-31 | GBX8.69 | GBX1891.00 | x |
| 2001-12-31 | GBX10.02 | GBX1891.00 | x |
| 2002-12-31 | GBX9.63 | GBX1891.00 | x |
| 2003-12-31 | GBX8.92 | GBX1891.00 | x |
| 2004-12-31 | GBX9.25 | GBX1891.00 | x |
| 2005-12-31 | GBX11.26 | GBX1891.00 | x |
| 2006-12-31 | GBX14.50 | GBX1891.00 | x |
| 2007-12-31 | GBX18.39 | GBX1891.00 | x |
| 2008-12-31 | GBX11.66 | GBX1891.00 | x |
| 2009-12-31 | GBX11.12 | GBX1891.00 | x |
| 2010-12-31 | GBX14.23 | GBX1891.00 | x |
| 2011-12-31 | GBX16.29 | GBX1891.00 | x |
| 2012-12-31 | GBX18.18 | GBX1891.00 | x |
| 2013-12-31 | GBX20.46 | GBX1891.00 | x |
| 2014-12-31 | GBX26.08 | GBX1891.00 | x |
| 2015-12-31 | GBX34.06 | GBX1891.00 | x |
| 2016-12-31 | GBX35.23 | GBX1891.00 | x |
| 2017-12-31 | GBX36.96 | GBX1891.00 | x |
| 2018-12-31 | GBX37.60 | GBX1891.00 | x |
| 2019-12-31 | GBX39.49 | GBX1891.00 | x |
| 2020-12-31 | GBX38.09 | GBX1891.00 | x |
| 2021-12-31 | GBX39.51 | GBX1891.00 | x |
| 2022-12-31 | GBX36.30 | GBX1891.00 | x |
| 2023-12-31 | GBX31.25 | GBX1891.00 | x |
| 2024-12-31 | GBX31.44 | GBX1891.00 | x |
| 2025-12-31 | GBX32.21 | GBX1891.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Derwent London PLC 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): 4.46%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 41.45%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.47x
- Recent ROE (4.46%) is below the historical average (4.78%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 7.73% | 231.50% | 0.03x | 1.08x | GBX-135.60K |
| 1986 | 2.23% | 13.67% | 0.10x | 1.60x | GBX-632.50K |
| 1987 | 2.73% | 35.18% | 0.07x | 1.13x | GBX-3.30 Million |
| 1988 | 3.44% | 51.76% | 0.06x | 1.20x | GBX-4.15 Million |
| 1989 | 5.61% | 51.55% | 0.08x | 1.29x | GBX-3.70 Million |
| 1990 | -0.36% | -4.27% | 0.06x | 1.44x | GBX-7.54 Million |
| 1991 | 0.82% | 5.69% | 0.09x | 1.55x | GBX-5.30 Million |
| 1992 | 1.90% | 10.36% | 0.10x | 1.84x | GBX-3.36 Million |
| 1993 | 3.14% | 24.17% | 0.08x | 1.67x | GBX-4.35 Million |
| 1994 | 5.30% | 42.32% | 0.08x | 1.61x | GBX-4.55 Million |
| 1995 | 2.79% | 26.30% | 0.06x | 1.79x | GBX-9.53 Million |
| 1996 | 4.38% | 35.60% | 0.07x | 1.76x | GBX-8.74 Million |
| 1997 | 3.56% | 36.54% | 0.06x | 1.50x | GBX-13.76 Million |
| 1998 | 2.67% | 29.62% | 0.06x | 1.51x | GBX-23.39 Million |
| 1999 | 3.74% | 47.99% | 0.05x | 1.61x | GBX-23.92 Million |
| 2000 | 1.88% | 22.03% | 0.05x | 1.69x | GBX-37.53 Million |
| 2001 | 3.17% | 36.03% | 0.06x | 1.59x | GBX-36.47 Million |
| 2002 | 2.25% | 24.73% | 0.05x | 1.67x | GBX-39.70 Million |
| 2003 | 3.10% | 30.90% | 0.06x | 1.73x | GBX-32.96 Million |
| 2004 | 14.65% | 151.25% | 0.05x | 1.91x | GBX23.05 Million |
| 2005 | 19.25% | 250.43% | 0.04x | 1.75x | GBX56.08 Million |
| 2006 | 23.26% | 314.14% | 0.04x | 1.70x | GBX103.86 Million |
| 2007 | 5.44% | 93.45% | 0.04x | 1.56x | GBX-81.20 Million |
| 2008 | -49.71% | -487.04% | 0.06x | 1.85x | GBX-704.36 Million |
| 2009 | -2.38% | -21.39% | 0.06x | 1.77x | GBX-139.52 Million |
| 2010 | 23.72% | 283.73% | 0.05x | 1.72x | GBX198.72 Million |
| 2011 | 13.73% | 179.06% | 0.05x | 1.63x | GBX62.03 Million |
| 2012 | 12.20% | 150.26% | 0.05x | 1.58x | GBX40.86 Million |
| 2013 | 19.82% | 282.55% | 0.05x | 1.49x | GBX226.20 Million |
| 2014 | 24.49% | 410.97% | 0.04x | 1.40x | GBX436.48 Million |
| 2015 | 19.53% | 378.93% | 0.04x | 1.29x | GBX373.95 Million |
| 2016 | 1.49% | 30.23% | 0.04x | 1.29x | GBX-334.53 Million |
| 2017 | 7.61% | 154.15% | 0.04x | 1.22x | GBX-98.83 Million |
| 2018 | 5.29% | 97.29% | 0.04x | 1.27x | GBX-197.89 Million |
| 2019 | 6.41% | 124.52% | 0.04x | 1.27x | GBX-158.72 Million |
| 2020 | -1.82% | -29.07% | 0.05x | 1.30x | GBX-503.92 Million |
| 2021 | 5.68% | 104.99% | 0.04x | 1.33x | GBX-191.88 Million |
| 2022 | -6.88% | -112.65% | 0.05x | 1.35x | GBX-688.05 Million |
| 2023 | -13.58% | -177.89% | 0.05x | 1.43x | GBX-827.28 Million |
| 2024 | 3.27% | 42.66% | 0.05x | 1.47x | GBX-238.08 Million |
| 2025 | 4.46% | 41.45% | 0.07x | 1.47x | GBX-200.43 Million |
Industry Comparison
This section compares Derwent London PLC's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $625,234,750
- Average return on equity (ROE) among peers: 7.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Derwent London PLC (DLN) | GBX3.62 Billion | 7.73% | 0.47x | $25.84 Million |
| CLS Holdings plc (CLI) | $1.12 Billion | 11.07% | 0.97x | $2.43 Million |
| GREAT PORTLAND ESTATES PLC (GPE) | $798.90 Million | 4.36% | 0.75x | $15.84 Million |
| Regional REIT Ltd (RGL) | $291.74 Million | 4.60% | 0.83x | $1.79 Million |
| Workspace Group PLC (WKP) | $287.30 Million | 8.42% | 1.54x | $8.10 Million |
About Derwent London PLC
Derwent London Plc owns a commercial real estate portfolio predominantly in central London valued at 5.1 billion pounds as of 31 December 2025. It is the largest London office-focused real estate investment trust (REIT). Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via redevelopment or refurbishment, effective asset man… Read more