Primary Health Properties

LSE:PHP UK REIT - Healthcare Facilities
Market Cap
$31.92 Million
GBX262.36 Billion GBX
Market Cap Rank
#38339 Global
#535 in UK
Share Price
GBX101.10
Change (1 day)
-0.30%
52-Week Range
GBX87.55 - GBX108.30
All Time High
GBX139.08
Categories
Companies in UK REIT - Healthcare Facilities
About

Primary Health Properties PLC ("PHP") is a UK Real Estate Investment Trust ("REIT") and leading investor in modern primary healthcare premises. We invest in flexible, modern properties for local primary healthcare. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. To achieve this, PHP invests in h… Read more

Primary Health Properties (PHP) - Net Assets

Latest net assets as of June 2025: GBX1.39 Billion GBX

Based on the latest financial reports, Primary Health Properties (PHP) has net assets worth GBX1.39 Billion GBX as of June 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX2.87 Billion) and total liabilities (GBX1.48 Billion). 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 GBX1.39 Billion
% of Total Assets 48.51%
Annual Growth Rate 16.99%
5-Year Change -2.71%
10-Year Change 298.42%
Growth Volatility 30.44

Primary Health Properties - Net Assets Trend (1996–2024)

This chart illustrates how Primary Health Properties's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Primary Health Properties (1996–2024)

The table below shows the annual net assets of Primary Health Properties from 1996 to 2024.

Year Net Assets Change
2024-12-31 GBX1.38 Billion -3.36%
2023-12-31 GBX1.42 Billion -3.93%
2022-12-31 GBX1.48 Billion -1.18%
2021-12-31 GBX1.50 Billion +6.04%
2020-12-31 GBX1.41 Billion +15.13%
2019-12-31 GBX1.23 Billion +55.90%
2018-12-31 GBX788.00 Million +34.29%
2017-12-31 GBX586.80 Million +17.55%
2016-12-31 GBX499.20 Million +44.54%
2015-12-31 GBX345.36 Million +11.72%
2014-12-31 GBX309.13 Million +2.23%
2013-12-31 GBX302.38 Million +68.85%
2012-12-31 GBX179.09 Million +6.53%
2011-12-31 GBX168.12 Million +2.05%
2010-12-31 GBX164.75 Million +8.45%
2009-12-31 GBX151.91 Million +94.05%
2008-12-31 GBX78.29 Million -36.91%
2007-12-31 GBX124.08 Million -17.87%
2007-06-30 GBX151.07 Million +111.80%
2006-06-30 GBX71.33 Million +24.98%
2005-06-30 GBX57.07 Million +14.48%
2004-06-30 GBX49.85 Million +31.51%
2003-06-30 GBX37.91 Million +26.83%
2002-06-30 GBX29.89 Million +24.82%
2001-06-30 GBX23.95 Million +17.60%
2000-06-30 GBX20.36 Million +10.46%
1999-06-30 GBX18.43 Million +7.69%
1998-06-30 GBX17.12 Million +4.86%
1997-06-30 GBX16.32 Million +3.99%
1996-06-30 GBX15.70 Million --

Equity Component Analysis

This analysis shows how different components contribute to Primary Health Properties'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 252915.9% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings GBX318.80 Million 23.17%
Common Stock GBX167.10 Million 12.14%
Other Components GBX890.10 Million 64.69%
Total Equity GBX1.38 Billion 100.00%

Primary Health Properties Competitors by Market Cap

The table below lists competitors of Primary Health Properties ranked by their market capitalization.

Company Market Cap
Plaintree Systems Inc
PINK:PTEEF
 		$322.86K
NISSAN CHEMICAL IND
MU:NSC
 		$322.95K
Chatham Rock Phosphate Limited
PINK:GELGF
 		$323.22K
SVB Financial Group
PINK:SIVBQ
 		$323.54K
Gelum Resources Ltd.
PINK:GMRCF
 		$322.32K
WAERTSILAE
MU:MTA
 		$322.19K
BITTIUM (JOT.SG)
STU:JOT
 		$322.05K
Domec Compania de Artefactos Domesticos SAIC y F
BA:DOME
 		$322.00K

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Primary Health Properties's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 1,423,900,000 to 1,376,000,000, a change of -47,900,000 (-3.4%).
  • Net income of 41,400,000 contributed positively to equity growth.
  • Dividend payments of 92,100,000 reduced retained earnings.
  • Other comprehensive income increased equity by 5,800,000.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income GBX41.40 Million +3.01%
Dividends Paid GBX92.10 Million -6.69%
Other Comprehensive Income GBX5.80 Million +0.42%
Other Changes GBX-3.00 Million -0.22%
Total Change GBX- -3.36%

Book Value vs Market Value Analysis

This analysis compares Primary Health Properties'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: 98.20x
  • 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 412.23x to 98.20x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
1996-06-30 GBX0.25 GBX101.10 x
1997-06-30 GBX0.26 GBX101.10 x
1998-06-30 GBX0.22 GBX101.10 x
1999-06-30 GBX0.24 GBX101.10 x
2000-06-30 GBX0.32 GBX101.10 x
2001-06-30 GBX0.31 GBX101.10 x
2002-06-30 GBX0.37 GBX101.10 x
2003-06-30 GBX0.57 GBX101.10 x
2004-06-30 GBX0.57 GBX101.10 x
2005-06-30 GBX0.62 GBX101.10 x
2006-06-30 GBX0.76 GBX101.10 x
2007-06-30 GBX1.47 GBX101.10 x
2007-12-31 GBX1.10 GBX101.10 x
2008-12-31 GBX0.51 GBX101.10 x
2009-12-31 GBX0.93 GBX101.10 x
2010-12-31 GBX0.66 GBX101.10 x
2011-12-31 GBX0.63 GBX101.10 x
2012-12-31 GBX0.62 GBX101.10 x
2013-12-31 GBX0.85 GBX101.10 x
2014-12-31 GBX0.62 GBX101.10 x
2015-12-31 GBX0.65 GBX101.10 x
2016-12-31 GBX0.77 GBX101.10 x
2017-12-31 GBX0.88 GBX101.10 x
2018-12-31 GBX1.08 GBX101.10 x
2019-12-31 GBX1.13 GBX101.10 x
2020-12-31 GBX1.03 GBX101.10 x
2021-12-31 GBX1.04 GBX101.10 x
2022-12-31 GBX1.03 GBX101.10 x
2023-12-31 GBX1.07 GBX101.10 x
2024-12-31 GBX1.03 GBX101.10 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Primary Health Properties 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): 3.01%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 22.78%
  • • Asset Turnover: 0.07x
  • • Equity Multiplier: 2.03x
  • Recent ROE (3.01%) is below the historical average (7.09%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
1996 0.80% 153.66% 0.01x 1.01x GBX-1.44 Million
1997 3.27% 100.57% 0.03x 1.06x GBX-1.10 Million
1998 4.91% 61.97% 0.05x 1.46x GBX-870.70K
1999 5.72% 44.08% 0.06x 2.16x GBX-789.40K
2000 5.48% 30.24% 0.07x 2.59x GBX-920.30K
2001 5.95% 30.78% 0.07x 2.69x GBX-970.60K
2002 6.06% 32.65% 0.07x 2.80x GBX-1.18 Million
2003 5.15% 29.10% 0.07x 2.57x GBX-1.84 Million
2004 4.96% 32.27% 0.06x 2.67x GBX-2.51 Million
2005 22.21% 131.84% 0.06x 2.98x GBX6.97 Million
2006 22.34% 143.18% 0.05x 2.95x GBX8.80 Million
2007 23.03% 246.05% 0.05x 1.99x GBX19.69 Million
2007 13.54% 75.65% 0.07x 2.40x GBX4.39 Million
2008 -30.53% -121.37% 0.06x 4.13x GBX-31.73 Million
2009 7.10% 50.56% 0.06x 2.29x GBX-4.41 Million
2010 15.58% 95.39% 0.06x 2.89x GBX9.20 Million
2011 7.53% 41.25% 0.06x 3.16x GBX-4.16 Million
2012 0.63% 15.78% 0.01x 3.65x GBX-16.78 Million
2013 6.69% 71.07% 0.03x 3.16x GBX-10.02 Million
2014 11.93% 61.48% 0.06x 3.38x GBX5.97 Million
2015 16.22% 88.78% 0.06x 3.21x GBX21.50 Million
2016 8.75% 64.84% 0.05x 2.46x GBX-6.22 Million
2017 15.66% 126.76% 0.05x 2.34x GBX33.22 Million
2018 9.43% 93.34% 0.05x 1.92x GBX-4.50 Million
2019 -5.80% 0.00% -0.02x 2.09x GBX-194.15 Million
2020 7.92% 87.09% 0.05x 1.91x GBX-29.44 Million
2021 9.34% 62.91% 0.08x 1.90x GBX-9.89 Million
2022 3.80% 65.69% 0.03x 1.93x GBX-91.92 Million
2023 1.92% 16.08% 0.06x 1.99x GBX-115.09 Million
2024 3.01% 22.78% 0.07x 2.03x GBX-96.20 Million

Industry Comparison

This section compares Primary Health Properties's net assets metrics with peer companies in the REIT - Healthcare Facilities industry.

Industry Context

  • Industry: REIT - Healthcare Facilities
  • Average net assets among peers: $236,320,333
  • Average return on equity (ROE) among peers: 3.48%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Primary Health Properties (PHP) GBX1.39 Billion 0.80% 1.06x $322.69K
Care REIT plc (CRT) $349.52 Million 8.23% 0.23x $119.82
Life Science REIT PLC (LABS) $350.58 Million 2.21% 0.03x $16.05K
Target Healthcare REIT Ltd (THRL) $8.86 Million 0.00% 0.01x $81.35K