Picton Property Income Ltd (PCTN) - Net Assets
Based on the latest financial reports, Picton Property Income Ltd (PCTN) has net assets worth GBX521.98 Million GBX (≈ $63.51K USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX751.65 Million ≈ $91.45K USD) and total liabilities (GBX229.67 Million ≈ $27.94K 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 asset allocation strategy of Picton Property Income Ltd to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX521.98 Million |
| % of Total Assets | 69.44% |
| Annual Growth Rate | 2.43% |
| 5-Year Change | -20.57% |
| 10-Year Change | 18.12% |
| Growth Volatility | 22.67 |
Picton Property Income Ltd - Net Assets Trend (2005–2026)
This chart illustrates how Picton Property Income Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see PCTN stock market capitalisation.
Annual Net Assets for Picton Property Income Ltd (2005–2026)
The table below shows the annual net assets of Picton Property Income Ltd from 2005 to 2026. Also explore Picton Property Income Ltd net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | GBX521.98 Million ≈ $63.51K |
-2.14% |
| 2025-03-31 | GBX533.38 Million ≈ $64.90K |
+1.70% |
| 2024-03-31 | GBX524.48 Million ≈ $63.81K |
-4.23% |
| 2023-03-31 | GBX547.62 Million ≈ $66.63K |
-16.66% |
| 2022-03-31 | GBX657.13 Million ≈ $79.95K |
+24.41% |
| 2021-03-31 | GBX528.20 Million ≈ $64.27K |
+3.71% |
| 2020-03-31 | GBX509.28 Million ≈ $61.97K |
+1.98% |
| 2019-03-31 | GBX499.42 Million ≈ $60.76K |
+2.47% |
| 2018-03-31 | GBX487.36 Million ≈ $59.30K |
+10.28% |
| 2017-03-31 | GBX441.93 Million ≈ $53.77K |
+5.94% |
| 2016-03-31 | GBX417.13 Million ≈ $50.75K |
+12.75% |
| 2015-03-31 | GBX369.97 Million ≈ $45.01K |
+72.81% |
| 2014-03-31 | GBX214.10 Million ≈ $26.05K |
+26.37% |
| 2013-03-31 | GBX169.42 Million ≈ $20.61K |
-13.61% |
| 2012-03-31 | GBX196.11 Million ≈ $23.86K |
-5.21% |
| 2010-12-31 | GBX206.89 Million ≈ $25.17K |
+14.26% |
| 2009-12-31 | GBX181.06 Million ≈ $22.03K |
-13.91% |
| 2008-12-31 | GBX210.31 Million ≈ $25.59K |
-43.09% |
| 2007-12-31 | GBX369.52 Million ≈ $44.96K |
-11.67% |
| 2006-12-31 | GBX418.33 Million ≈ $50.90K |
+30.40% |
| 2005-12-31 | GBX320.80 Million ≈ $39.03K |
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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 1512.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX358.98 Million | 68.77% |
| Common Stock | GBX164.40 Million | 31.50% |
| Other Comprehensive Income | GBX-1.40 Million | -0.27% |
| Total Equity | GBX521.98 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 |
|---|---|
|
8COMMON Ltd
AU:8CO
|
$4.48 Million |
|
Kokoh Inti Arebama Tbk
JK:KOIN
|
$4.48 Million |
|
Harvest Gold Corp
V:HVG
|
$4.48 Million |
|
Pearl Gull Iron Ltd
AU:PLG
|
$4.49 Million |
|
AYRO Inc
NASDAQ:AYRO
|
$4.47 Million |
|
Hensel Davest Indonesia Tbk PT
JK:HDIT
|
$4.47 Million |
|
Huntsman Exploration Inc
V:HMAN
|
$4.46 Million |
|
Volcanic Gold Mines Inc
V:VG
|
$4.46 Million |
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 2025 to 2026, total equity changed from 533,378,000 to 521,982,999, a change of -11,395,001 (-2.1%).
- Net income of 25,854,000 contributed positively to equity growth.
- Dividend payments of 19,738,000 reduced retained earnings.
- Share repurchases of 18,255,000 reduced equity.
- Other comprehensive income decreased equity by 176,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX25.85 Million | +4.95% |
| Dividends Paid | GBX19.74 Million | -3.78% |
| Share Repurchases | GBX18.25 Million | -3.5% |
| Other Comprehensive Income | GBX-176.00K | -0.03% |
| Other Changes | GBX920.00K | +0.18% |
| Total Change | GBX- | -2.14% |
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: 71.63x
- 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 57.06x to 71.63x 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 | GBX72.00 | x |
| 2007-12-31 | GBX1.12 | GBX72.00 | x |
| 2008-12-31 | GBX0.64 | GBX72.00 | x |
| 2009-12-31 | GBX0.55 | GBX72.00 | x |
| 2010-12-31 | GBX0.61 | GBX72.00 | x |
| 2012-03-31 | GBX0.57 | GBX72.00 | x |
| 2013-03-31 | GBX0.49 | GBX72.00 | x |
| 2014-03-31 | GBX0.59 | GBX72.00 | x |
| 2015-03-31 | GBX0.83 | GBX72.00 | x |
| 2016-03-31 | GBX0.77 | GBX72.00 | x |
| 2017-03-31 | GBX0.82 | GBX72.00 | x |
| 2018-03-31 | GBX0.90 | GBX72.00 | x |
| 2019-03-31 | GBX0.92 | GBX72.00 | x |
| 2020-03-31 | GBX0.93 | GBX72.00 | x |
| 2021-03-31 | GBX0.97 | GBX72.00 | x |
| 2022-03-31 | GBX1.20 | GBX72.00 | x |
| 2023-03-31 | GBX1.00 | GBX72.00 | x |
| 2024-03-31 | GBX0.96 | GBX72.00 | x |
| 2025-03-31 | GBX0.98 | GBX72.00 | x |
| 2026-03-31 | GBX1.01 | GBX72.00 | 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): 4.95%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 50.63%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.44x
- Recent ROE (4.95%) is above the historical average (1.69%), 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 |
| 2026 | 4.95% | 50.63% | 0.07x | 1.44x | GBX-26.34 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: $1,384,469,590
- Average return on equity (ROE) among peers: -0.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Picton Property Income Ltd (PCTN) | GBX521.98 Million | -7.38% | 0.44x | $4.47 Million |
| AEW UK REIT Plc (AEWU) | $167.10 Million | -6.78% | 0.40x | $2.01 Million |
| Alternative Income REIT PLC (AIRE) | $65.12 Million | 3.62% | 0.67x | $656.23K |
| abrdn Property Income Trust Ltd. (API) | $331.51 Million | -4.76% | 0.39x | $81.17K |
| British Land Company PLC (BLND) | $962.70 Million | 3.29% | 0.70x | $50.85 Million |
| Custodian REIT PLC (CREI) | $426.62 Million | 5.54% | 0.36x | $4.92 Million |
| Ground Rents Income Fund PLC (GRIO) | $108.01 Million | -2.12% | 0.20x | $197.88K |
| Land Securities Group PLC (LAND) | $10.39 Billion | -0.42% | 0.39x | $60.10 Million |
| Palace Capital PLC (PCA) | $-45.00K | 0.00% | 0.00x | $444.24K |
| Real Estate Investors PLC (RLE) | $13.21 Million | -0.51% | 0.27x | $670.13K |
About Picton Property Income Ltd
Picton Property Income Limited owns and actively manages a 702 million pounds UK commercial property portfolio. It has invested across 45 assets and with around 300 occupiers (as at 30 June 2026). Through an occupier focused, opportunity led approach, Picton aims to be the consistently best performing diversified UK REIT and has delivered upper quartile outperformance and a consistently higher in… Read more