Primary Health Properties (PHP) - Net Assets
Based on the latest financial reports, Primary Health Properties (PHP) has net assets worth GBX2.56 Billion GBX (≈ $311.84K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX6.04 Billion ≈ $734.89K USD) and total liabilities (GBX3.48 Billion ≈ $423.05K 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 Primary Health Properties asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX2.56 Billion |
| % of Total Assets | 42.43% |
| Annual Growth Rate | 18.85% |
| 5-Year Change | 70.88% |
| 10-Year Change | 413.42% |
| Growth Volatility | 32.2 |
Primary Health Properties - Net Assets Trend (1996–2025)
This chart illustrates how Primary Health Properties's net assets have evolved over time, based on quarterly financial data. Also explore Primary Health Properties balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Primary Health Properties (1996–2025)
The table below shows the annual net assets of Primary Health Properties from 1996 to 2025. For live valuation and market cap data, see PHP market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | GBX2.56 Billion ≈ $311.84K |
+86.26% |
| 2024-12-31 | GBX1.38 Billion ≈ $167.42K |
-3.36% |
| 2023-12-31 | GBX1.42 Billion ≈ $173.25K |
-3.93% |
| 2022-12-31 | GBX1.48 Billion ≈ $180.34K |
-1.18% |
| 2021-12-31 | GBX1.50 Billion ≈ $182.49K |
+6.04% |
| 2020-12-31 | GBX1.41 Billion ≈ $172.09K |
+15.13% |
| 2019-12-31 | GBX1.23 Billion ≈ $149.47K |
+55.90% |
| 2018-12-31 | GBX788.00 Million ≈ $95.88K |
+34.29% |
| 2017-12-31 | GBX586.80 Million ≈ $71.40K |
+17.55% |
| 2016-12-31 | GBX499.20 Million ≈ $60.74K |
+44.54% |
| 2015-12-31 | GBX345.36 Million ≈ $42.02K |
+11.72% |
| 2014-12-31 | GBX309.13 Million ≈ $37.61K |
+2.23% |
| 2013-12-31 | GBX302.38 Million ≈ $36.79K |
+68.85% |
| 2012-12-31 | GBX179.09 Million ≈ $21.79K |
+6.53% |
| 2011-12-31 | GBX168.12 Million ≈ $20.46K |
+2.05% |
| 2010-12-31 | GBX164.75 Million ≈ $20.04K |
+8.45% |
| 2009-12-31 | GBX151.91 Million ≈ $18.48K |
+94.05% |
| 2008-12-31 | GBX78.29 Million ≈ $9.53K |
-36.91% |
| 2007-12-31 | GBX124.08 Million ≈ $15.10K |
-17.87% |
| 2007-06-30 | GBX151.07 Million ≈ $18.38K |
+111.80% |
| 2006-06-30 | GBX71.33 Million ≈ $8.68K |
+24.98% |
| 2005-06-30 | GBX57.07 Million ≈ $6.94K |
+14.48% |
| 2004-06-30 | GBX49.85 Million ≈ $6.07K |
+31.51% |
| 2003-06-30 | GBX37.91 Million ≈ $4.61K |
+26.83% |
| 2002-06-30 | GBX29.89 Million ≈ $3.64K |
+24.82% |
| 2001-06-30 | GBX23.95 Million ≈ $2.91K |
+17.60% |
| 2000-06-30 | GBX20.36 Million ≈ $2.48K |
+10.46% |
| 1999-06-30 | GBX18.43 Million ≈ $2.24K |
+7.69% |
| 1998-06-30 | GBX17.12 Million ≈ $2.08K |
+4.86% |
| 1997-06-30 | GBX16.32 Million ≈ $1.99K |
+3.99% |
| 1996-06-30 | GBX15.70 Million ≈ $1.91K |
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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 584027.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX736.00 Million | 28.82% |
| Common Stock | GBX324.00 Million | 12.69% |
| Other Comprehensive Income | GBX3.00 Million | 0.12% |
| Other Components | GBX1.49 Billion | 58.38% |
| Total Equity | GBX2.55 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 |
|---|---|
|
Vietnam Petroleum Transport JSC
VN:VIP
|
$29.66 Million |
|
Tingsvalvet Fastighets AB
ST:TINGS-A
|
$29.66 Million |
|
3D Energi Ltd
AU:TDO
|
$29.67 Million |
|
Axteria Group Bhd
KLSE:7120
|
$29.69 Million |
|
INOVIQ LTD.
F:EGQ0
|
$29.62 Million |
|
Astoria Investments Ltd
JSE:ARA
|
$29.62 Million |
|
Cosol Ltd
AU:COS
|
$29.62 Million |
|
Maniker F & G Co. Ltd
KQ:195500
|
$29.61 Million |
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 2024 to 2025, total equity changed from 1,376,000,000 to 2,554,000,000, a change of 1,178,000,000 (85.6%).
- Net income of 119,000,000 contributed positively to equity growth.
- Dividend payments of 117,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 3,000,000.
- Other factors increased equity by 1,173,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX119.00 Million | +4.66% |
| Dividends Paid | GBX117.00 Million | -4.58% |
| Other Comprehensive Income | GBX3.00 Million | +0.12% |
| Other Changes | GBX1.17 Billion | +45.93% |
| Total Change | GBX- | 85.61% |
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: 65.92x
- 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 382.87x to 65.92x 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 | GBX93.90 | x |
| 1997-06-30 | GBX0.26 | GBX93.90 | x |
| 1998-06-30 | GBX0.22 | GBX93.90 | x |
| 1999-06-30 | GBX0.24 | GBX93.90 | x |
| 2000-06-30 | GBX0.32 | GBX93.90 | x |
| 2001-06-30 | GBX0.31 | GBX93.90 | x |
| 2002-06-30 | GBX0.37 | GBX93.90 | x |
| 2003-06-30 | GBX0.57 | GBX93.90 | x |
| 2004-06-30 | GBX0.57 | GBX93.90 | x |
| 2005-06-30 | GBX0.62 | GBX93.90 | x |
| 2006-06-30 | GBX0.76 | GBX93.90 | x |
| 2007-06-30 | GBX1.47 | GBX93.90 | x |
| 2007-12-31 | GBX1.10 | GBX93.90 | x |
| 2008-12-31 | GBX0.51 | GBX93.90 | x |
| 2009-12-31 | GBX0.93 | GBX93.90 | x |
| 2010-12-31 | GBX0.66 | GBX93.90 | x |
| 2011-12-31 | GBX0.63 | GBX93.90 | x |
| 2012-12-31 | GBX0.62 | GBX93.90 | x |
| 2013-12-31 | GBX0.85 | GBX93.90 | x |
| 2014-12-31 | GBX0.62 | GBX93.90 | x |
| 2015-12-31 | GBX0.65 | GBX93.90 | x |
| 2016-12-31 | GBX0.77 | GBX93.90 | x |
| 2017-12-31 | GBX0.88 | GBX93.90 | x |
| 2018-12-31 | GBX1.08 | GBX93.90 | x |
| 2019-12-31 | GBX1.13 | GBX93.90 | x |
| 2020-12-31 | GBX1.03 | GBX93.90 | x |
| 2021-12-31 | GBX1.04 | GBX93.90 | x |
| 2022-12-31 | GBX1.03 | GBX93.90 | x |
| 2023-12-31 | GBX1.07 | GBX93.90 | x |
| 2024-12-31 | GBX1.03 | GBX93.90 | x |
| 2025-12-31 | GBX1.42 | GBX93.90 | 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): 4.66%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 45.95%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 2.36x
- Recent ROE (4.66%) is below the historical average (7.01%), 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 |
| 2025 | 4.66% | 45.95% | 0.04x | 2.36x | GBX-136.40 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: $149,562,667
- Average return on equity (ROE) among peers: -4.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Primary Health Properties (PHP) | GBX2.56 Billion | 0.80% | 1.36x | $29.65 Million |
| Assura PLC (AGR) | $162.68 Million | -5.34% | 1.83x | $18.77 Million |
| Life Science REIT PLC (LABS) | $283.75 Million | -7.65% | 0.45x | $1.84 Million |
| Target Healthcare REIT Ltd (THRL) | $2.26 Million | 0.00% | 0.00x | $8.12 Million |
About Primary Health Properties
Primary Health Properties PLC (PHP) is a UK Real Estate Investment Trust 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 healthcare r… Read more