Polar Capital Technology Trust (PCT) - Net Assets
Based on the latest financial reports, Polar Capital Technology Trust (PCT) has net assets worth GBX6.11 Billion GBX (≈ $743.16K USD) as of October 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX6.23 Billion ≈ $758.18K USD) and total liabilities (GBX123.44 Million ≈ $15.02K 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 tangible equity quality of Polar Capital Technology Trust to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX6.11 Billion |
| % of Total Assets | 98.02% |
| Annual Growth Rate | 7.2% |
| 5-Year Change | 11.62% |
| 10-Year Change | 374.84% |
| Growth Volatility | 27.37 |
Polar Capital Technology Trust - Net Assets Trend (2000–2025)
This chart illustrates how Polar Capital Technology Trust's net assets have evolved over time, based on quarterly financial data. See Polar Capital Technology Trust defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Polar Capital Technology Trust (2000–2025)
The table below shows the annual net assets of Polar Capital Technology Trust from 2000 to 2025. For live valuation and market cap data, see Polar Capital Technology Trust (PCT) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-04-30 | GBX3.80 Billion ≈ $462.94K |
+0.01% |
| 2024-04-30 | GBX3.80 Billion ≈ $462.90K |
+34.52% |
| 2023-04-30 | GBX2.83 Billion ≈ $344.10K |
-7.30% |
| 2022-04-30 | GBX3.05 Billion ≈ $371.22K |
-10.50% |
| 2021-04-30 | GBX3.41 Billion ≈ $414.75K |
+47.66% |
| 2020-04-30 | GBX2.31 Billion ≈ $280.89K |
+19.27% |
| 2019-04-30 | GBX1.94 Billion ≈ $235.51K |
+24.75% |
| 2018-04-30 | GBX1.55 Billion ≈ $188.79K |
+23.88% |
| 2017-04-30 | GBX1.25 Billion ≈ $152.40K |
+56.31% |
| 2016-04-30 | GBX801.31 Million ≈ $97.50K |
+1.05% |
| 2015-04-30 | GBX793.02 Million ≈ $96.49K |
+30.72% |
| 2014-04-30 | GBX606.63 Million ≈ $73.81K |
+14.71% |
| 2013-04-30 | GBX528.85 Million ≈ $64.35K |
+5.08% |
| 2012-04-30 | GBX503.29 Million ≈ $61.24K |
+7.38% |
| 2011-04-30 | GBX468.72 Million ≈ $57.03K |
+17.58% |
| 2010-04-30 | GBX398.63 Million ≈ $48.50K |
+45.39% |
| 2009-04-30 | GBX274.18 Million ≈ $33.36K |
-8.74% |
| 2008-04-30 | GBX300.43 Million ≈ $36.55K |
-10.45% |
| 2007-04-30 | GBX335.50 Million ≈ $40.82K |
-6.34% |
| 2006-04-30 | GBX358.20 Million ≈ $43.58K |
+50.99% |
| 2005-04-30 | GBX237.24 Million ≈ $28.86K |
-30.48% |
| 2004-04-30 | GBX341.23 Million ≈ $41.52K |
+54.39% |
| 2003-04-30 | GBX221.02 Million ≈ $26.89K |
-23.05% |
| 2002-04-30 | GBX287.23 Million ≈ $34.95K |
-28.43% |
| 2001-04-30 | GBX401.34 Million ≈ $48.83K |
-39.98% |
| 2000-04-30 | GBX668.73 Million ≈ $81.36K |
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Equity Component Analysis
This analysis shows how different components contribute to Polar Capital Technology Trust'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 decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (April 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | GBX34.33 Million | 0.90% |
| Other Components | GBX3.77 Billion | 99.10% |
| Total Equity | GBX3.80 Billion | 100.00% |
Polar Capital Technology Trust Competitors by Market Cap
The table below lists competitors of Polar Capital Technology Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Leofoo Development Co Ltd
TW:2705
|
$99.45 Million |
|
RSWM Limited
NSE:RSWM
|
$99.49 Million |
|
Gezinomi Seyahat Turizm Ticaret AS
IS:GZNMI
|
$99.51 Million |
|
Axis Corporation
TWO:6292
|
$99.54 Million |
|
Korea Petroleum Industries Co
KO:004090
|
$99.38 Million |
|
Yirendai Ltd
NYSE:YRD
|
$99.37 Million |
|
Topower Co Ltd
TWO:3226
|
$99.37 Million |
|
Kencana Agri Limited
F:KEBA
|
$99.31 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Polar Capital Technology Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,804,533,000 to 3,804,889,000, a change of 356,000 (0.0%).
- Net income of 118,355,000 contributed positively to equity growth.
- Share repurchases of 117,689,000 reduced equity.
- Other comprehensive income decreased equity by 20,337,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX118.36 Million | +3.11% |
| Share Repurchases | GBX117.69 Million | -3.09% |
| Other Comprehensive Income | GBX-20.34 Million | -0.53% |
| Other Changes | GBX20.03 Million | +0.53% |
| Total Change | GBX- | 0.01% |
Book Value vs Market Value Analysis
This analysis compares Polar Capital Technology Trust'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: 228.93x
- 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 444.11x to 228.93x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-04-30 | GBX1.65 | GBX733.50 | x |
| 2004-04-30 | GBX1.94 | GBX733.50 | x |
| 2005-04-30 | GBX2.06 | GBX733.50 | x |
| 2006-04-30 | GBX2.82 | GBX733.50 | x |
| 2007-04-30 | GBX2.40 | GBX733.50 | x |
| 2008-04-30 | GBX2.19 | GBX733.50 | x |
| 2009-04-30 | GBX2.11 | GBX733.50 | x |
| 2010-04-30 | GBX3.15 | GBX733.50 | x |
| 2011-04-30 | GBX3.70 | GBX733.50 | x |
| 2012-04-30 | GBX3.94 | GBX733.50 | x |
| 2013-04-30 | GBX4.12 | GBX733.50 | x |
| 2014-04-30 | GBX4.71 | GBX733.50 | x |
| 2015-04-30 | GBX5.99 | GBX733.50 | x |
| 2016-04-30 | GBX6.06 | GBX733.50 | x |
| 2017-04-30 | GBX9.46 | GBX733.50 | x |
| 2018-04-30 | GBX11.65 | GBX733.50 | x |
| 2019-04-30 | GBX14.46 | GBX733.50 | x |
| 2020-04-30 | GBX17.25 | GBX733.50 | x |
| 2021-04-30 | GBX24.89 | GBX733.50 | x |
| 2022-04-30 | GBX22.60 | GBX733.50 | x |
| 2023-04-30 | GBX21.85 | GBX733.50 | x |
| 2024-04-30 | GBX3.08 | GBX733.50 | x |
| 2025-04-30 | GBX3.20 | GBX733.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Polar Capital Technology Trust 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): 3.11%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 95.33%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.03x
- Recent ROE (3.11%) is below the historical average (11.81%), 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 | 29.27% | 96.35% | 0.24x | 1.25x | GBX59.08 Million |
| 2005 | -6.31% | 0.00% | -0.03x | 1.30x | GBX-38.70 Million |
| 2006 | 24.71% | 94.87% | 0.23x | 1.14x | GBX52.68 Million |
| 2007 | -6.77% | 0.00% | -0.05x | 1.13x | GBX-56.25 Million |
| 2008 | -6.59% | 0.00% | -0.04x | 1.12x | GBX-49.83 Million |
| 2009 | -6.30% | 0.00% | -0.05x | 1.13x | GBX-44.70 Million |
| 2010 | 31.22% | 96.34% | 0.30x | 1.09x | GBX84.58 Million |
| 2011 | 14.53% | 87.41% | 0.15x | 1.10x | GBX21.21 Million |
| 2012 | 6.07% | 81.49% | 0.07x | 1.07x | GBX-19.79 Million |
| 2013 | 4.81% | 94.67% | 0.05x | 1.05x | GBX-27.44 Million |
| 2014 | 9.60% | 97.47% | 0.09x | 1.07x | GBX-2.44 Million |
| 2015 | 23.50% | 99.14% | 0.23x | 1.03x | GBX107.08 Million |
| 2016 | 1.03% | 86.07% | 0.01x | 1.06x | GBX-71.84 Million |
| 2017 | 35.92% | 99.53% | 0.35x | 1.04x | GBX324.60 Million |
| 2018 | 18.34% | 99.11% | 0.18x | 1.03x | GBX129.41 Million |
| 2019 | 19.82% | 99.20% | 0.19x | 1.05x | GBX190.07 Million |
| 2020 | 15.60% | 99.23% | 0.15x | 1.05x | GBX129.24 Million |
| 2021 | 31.20% | 99.66% | 0.30x | 1.03x | GBX722.81 Million |
| 2022 | -8.48% | 0.00% | -0.08x | 1.04x | GBX-563.74 Million |
| 2023 | -3.72% | 0.00% | -0.04x | 1.03x | GBX-388.00 Million |
| 2024 | 29.32% | 97.18% | 0.30x | 1.02x | GBX734.98 Million |
| 2025 | 3.11% | 95.33% | 0.03x | 1.03x | GBX-262.13 Million |
Industry Comparison
This section compares Polar Capital Technology Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $657,704,100
- Average return on equity (ROE) among peers: 5.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Polar Capital Technology Trust (PCT) | GBX6.11 Billion | 29.27% | 0.02x | $99.44 Million |
| 3I Infrastructure PLC (3IN) | $1.25 Billion | 6.43% | 0.14x | $41.69 Million |
| Albion Enterprise VCT PLC (AAEV) | $140.65 Million | 2.37% | 0.01x | $3.29 Million |
| abrdn Asian Income Fund Limited (AAIF) | $154.40 Million | 26.46% | 0.07x | $5.95 Million |
| Abrdn Asia Focus PLC (AAS) | $121.96 Million | 12.34% | 0.07x | $7.74 Million |
| Albion Technology & General VCT PLC (AATG) | $121.25 Million | -5.20% | 0.01x | $3.15 Million |
| Abrdn PLC (ABDN) | $3.74 Billion | 2.67% | 35.62x | $50.56 Million |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $428.13 Million | 2.15% | 0.15x | $450.86K |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $247.72K |
| Aquila European Renewables Income PLC (AERI) | $372.54 Million | -8.03% | 0.00x | $56.72 Million |
| Artemis UK Future Leaders plc (AFL) | $152.03 Million | 18.55% | 0.02x | $404.11 |
About Polar Capital Technology Trust
Polar Capital Technology Trust plc is a closed ended equity mutual fund launched and managed by Polar Capital LLP. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating in the technology sector and other sectors which use technology like information, media, communications, environment, computing, healthcare, and renewable energy. The fund … Read more