Picton Property Income Ltd
Picton Property Income Limited is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index. Picton owns and actively manages a £699 million UK commercial property portfolio, invested across 46 assets and with around 300 occupiers (as of 31 December 2025). Through an occupier focused, opportunity led approac… Read more
Picton Property Income Ltd (PCTN) - Net Assets
Latest net assets as of September 2025: GBX527.57 Million GBX
Based on the latest financial reports, Picton Property Income Ltd (PCTN) has net assets worth GBX527.57 Million GBX as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX756.90 Million) and total liabilities (GBX229.33 Million). 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 | GBX527.57 Million |
| % of Total Assets | 69.7% |
| Annual Growth Rate | 2.68% |
| 5-Year Change | 0.98% |
| 10-Year Change | 27.87% |
| Growth Volatility | 23.2 |
Picton Property Income Ltd - Net Assets Trend (2005–2025)
This chart illustrates how Picton Property Income Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Picton Property Income Ltd (2005–2025)
The table below shows the annual net assets of Picton Property Income Ltd from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | GBX533.38 Million | +1.70% |
| 2024-03-31 | GBX524.48 Million | -4.23% |
| 2023-03-31 | GBX547.62 Million | -16.66% |
| 2022-03-31 | GBX657.13 Million | +24.41% |
| 2021-03-31 | GBX528.20 Million | +3.71% |
| 2020-03-31 | GBX509.28 Million | +1.98% |
| 2019-03-31 | GBX499.42 Million | +2.47% |
| 2018-03-31 | GBX487.36 Million | +10.28% |
| 2017-03-31 | GBX441.93 Million | +5.94% |
| 2016-03-31 | GBX417.13 Million | +12.75% |
| 2015-03-31 | GBX369.97 Million | +72.81% |
| 2014-03-31 | GBX214.10 Million | +26.37% |
| 2013-03-31 | GBX169.42 Million | -13.61% |
| 2012-03-31 | GBX196.11 Million | -5.21% |
| 2010-12-31 | GBX206.89 Million | +14.26% |
| 2009-12-31 | GBX181.06 Million | -13.91% |
| 2008-12-31 | GBX210.31 Million | -43.09% |
| 2007-12-31 | GBX369.52 Million | -11.67% |
| 2006-12-31 | GBX418.33 Million | +30.40% |
| 2005-12-31 | GBX320.80 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Picton Property Income Ltd'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 1563.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX370.20 Million | 69.41% |
| Common Stock | GBX164.40 Million | 30.82% |
| Total Equity | GBX533.38 Million | 100.00% |
Picton Property Income Ltd Competitors by Market Cap
The table below lists competitors of Picton Property Income Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CANTOURAGE GROUP SE O.N.
F:HIGH
|
$51.02K |
|
Neon Equity AG
XETRA:D77
|
$51.08K |
|
LOGN3F
SA:LOGN3F
|
$51.09K |
|
Endonovo Therapeutics Inc
PINK:ENDV
|
$51.10K |
|
AVIZF
PINK:AVIZF
|
$51.00K |
|
Temir Corp
PINK:TMRR
|
$50.96K |
|
IMMUCELL
BE:IUL
|
$50.95K |
|
BBVA BANCO
BE:BDPA
|
$50.92K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Picton Property Income Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 524,475,000 to 533,378,000, a change of 8,903,000 (1.7%).
- Net income of 37,323,000 contributed positively to equity growth.
- Dividend payments of 20,159,000 reduced retained earnings.
- Share repurchases of 9,012,000 reduced equity.
- Other comprehensive income increased equity by 453,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX37.32 Million | +7.0% |
| Dividends Paid | GBX20.16 Million | -3.78% |
| Share Repurchases | GBX9.01 Million | -1.69% |
| Other Comprehensive Income | GBX453.00K | +0.08% |
| Other Changes | GBX298.00K | +0.06% |
| Total Change | GBX- | 1.70% |
Book Value vs Market Value Analysis
This analysis compares Picton Property Income Ltd'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: 83.25x
- 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 increased from 64.50x to 83.25x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | GBX1.26 | GBX81.40 | x |
| 2007-12-31 | GBX1.12 | GBX81.40 | x |
| 2008-12-31 | GBX0.64 | GBX81.40 | x |
| 2009-12-31 | GBX0.55 | GBX81.40 | x |
| 2010-12-31 | GBX0.61 | GBX81.40 | x |
| 2012-03-31 | GBX0.57 | GBX81.40 | x |
| 2013-03-31 | GBX0.49 | GBX81.40 | x |
| 2014-03-31 | GBX0.59 | GBX81.40 | x |
| 2015-03-31 | GBX0.83 | GBX81.40 | x |
| 2016-03-31 | GBX0.77 | GBX81.40 | x |
| 2017-03-31 | GBX0.82 | GBX81.40 | x |
| 2018-03-31 | GBX0.90 | GBX81.40 | x |
| 2019-03-31 | GBX0.92 | GBX81.40 | x |
| 2020-03-31 | GBX0.93 | GBX81.40 | x |
| 2021-03-31 | GBX0.97 | GBX81.40 | x |
| 2022-03-31 | GBX1.20 | GBX81.40 | x |
| 2023-03-31 | GBX1.00 | GBX81.40 | x |
| 2024-03-31 | GBX0.96 | GBX81.40 | x |
| 2025-03-31 | GBX0.98 | GBX81.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Picton Property Income Ltd 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): 7.00%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 69.09%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.43x
- Recent ROE (7.00%) is above the historical average (1.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | -7.38% | 0.00% | -0.02x | 1.87x | GBX-64.22 Million |
| 2008 | -66.77% | 0.00% | -0.27x | 2.21x | GBX-161.45 Million |
| 2009 | -10.68% | 0.00% | -0.01x | 2.28x | GBX-37.44 Million |
| 2010 | 15.26% | 31.11% | 0.22x | 2.26x | GBX10.89 Million |
| 2012 | 3.31% | 25.09% | 0.06x | 2.29x | GBX-13.12 Million |
| 2013 | -8.62% | 0.00% | 0.00x | 2.47x | GBX-31.55 Million |
| 2014 | 17.44% | 74.76% | 0.11x | 2.17x | GBX15.94 Million |
| 2015 | 18.61% | 84.01% | 0.13x | 1.68x | GBX31.86 Million |
| 2016 | 15.55% | 81.81% | 0.12x | 1.65x | GBX23.13 Million |
| 2017 | 9.67% | 72.66% | 0.09x | 1.51x | GBX-1.44 Million |
| 2018 | 13.17% | 82.46% | 0.11x | 1.48x | GBX15.43 Million |
| 2019 | 6.20% | 60.90% | 0.07x | 1.43x | GBX-18.99 Million |
| 2020 | 4.42% | 55.45% | 0.06x | 1.37x | GBX-28.42 Million |
| 2021 | 6.40% | 67.73% | 0.07x | 1.35x | GBX-19.02 Million |
| 2022 | 22.37% | 86.93% | 0.19x | 1.36x | GBX81.27 Million |
| 2023 | -17.95% | 0.00% | -0.09x | 1.45x | GBX-153.04 Million |
| 2024 | -0.91% | -8.76% | 0.07x | 1.48x | GBX-57.24 Million |
| 2025 | 7.00% | 69.09% | 0.07x | 1.43x | GBX-16.01 Million |
Industry Comparison
This section compares Picton Property Income Ltd's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $192,782,228
- Average return on equity (ROE) among peers: 2.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Picton Property Income Ltd (PCTN) | GBX527.57 Million | -7.38% | 0.43x | $51.02K |
| AEW UK REIT Plc (AEWU) | $167.10 Million | -6.78% | 0.40x | $20.37K |
| Alternative Income REIT PLC (AIRE) | $67.33 Million | 10.78% | 0.65x | $7.81K |
| abrdn Property Income Trust Ltd. (API) | $312.78 Million | 10.21% | 0.49x | $890.56 |
| Custodian REIT PLC (CREI) | $415.20 Million | 7.81% | 0.31x | $49.58K |
| Ground Rents Income Fund PLC (GRIO) | $134.81 Million | -7.93% | 0.00x | $2.79K |
| Palace Capital PLC (PCA) | $157.83 Million | -3.51% | 0.91x | $5.27K |
| Real Estate Investors PLC (RLE) | $125.44 Million | 2.92% | 0.93x | $6.68K |
| Schroder European Reit Plc (SERE) | $164.10 Million | 0.35% | 0.49x | $9.98K |
| Schroder Real Estate Investment Trust Ltd (SREI) | $190.44 Million | 10.96% | 0.71x | $31.42K |