Real Estate Credit Investments Limited (RECI) - Net Assets
Based on the latest financial reports, Real Estate Credit Investments Limited (RECI) has net assets worth GBX314.02 Million GBX (≈ $38.21K USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX431.53 Million ≈ $52.50K USD) and total liabilities (GBX117.51 Million ≈ $14.30K 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 RECI asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX314.02 Million |
| % of Total Assets | 72.77% |
| Annual Growth Rate | 0.67% |
| 5-Year Change | -8.22% |
| 10-Year Change | 167.93% |
| Growth Volatility | 27.33 |
Real Estate Credit Investments Limited - Net Assets Trend (2006–2025)
This chart illustrates how Real Estate Credit Investments Limited's net assets have evolved over time, based on quarterly financial data. Also explore Real Estate Credit Investments Limited assets under control for the complete picture of this company's asset base.
Annual Net Assets for Real Estate Credit Investments Limited (2006–2025)
The table below shows the annual net assets of Real Estate Credit Investments Limited from 2006 to 2025. For live valuation and market cap data, see Real Estate Credit Investments Limited stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | GBX318.36 Million ≈ $38.73K |
-2.46% |
| 2024-03-31 | GBX326.38 Million ≈ $39.71K |
-3.14% |
| 2023-03-31 | GBX336.97 Million ≈ $41.00K |
-2.03% |
| 2022-03-31 | GBX343.94 Million ≈ $41.85K |
-0.85% |
| 2021-03-31 | GBX346.88 Million ≈ $42.21K |
+2.88% |
| 2020-03-31 | GBX337.16 Million ≈ $41.02K |
+33.16% |
| 2019-03-31 | GBX253.20 Million ≈ $30.81K |
+10.80% |
| 2018-03-31 | GBX228.52 Million ≈ $27.80K |
+58.42% |
| 2017-03-31 | GBX144.25 Million ≈ $17.55K |
+21.40% |
| 2016-03-31 | GBX118.82 Million ≈ $14.46K |
+0.57% |
| 2015-03-31 | GBX118.15 Million ≈ $14.38K |
-2.28% |
| 2014-03-31 | GBX120.91 Million ≈ $14.71K |
+65.54% |
| 2013-03-31 | GBX73.04 Million ≈ $8.89K |
+16.85% |
| 2012-03-31 | GBX62.51 Million ≈ $7.61K |
-7.11% |
| 2011-03-31 | GBX67.30 Million ≈ $8.19K |
-23.95% |
| 2010-03-31 | GBX88.48 Million ≈ $10.77K |
-9.51% |
| 2009-03-31 | GBX97.78 Million ≈ $11.90K |
-37.68% |
| 2008-03-31 | GBX156.90 Million ≈ $19.09K |
-44.04% |
| 2006-03-31 | GBX280.39 Million ≈ $34.12K |
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Equity Component Analysis
This analysis shows how different components contribute to Real Estate Credit Investments Limited'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 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Comprehensive Income | GBX318.36 Million | 100.00% |
| Total Equity | GBX318.36 Million | 100.00% |
Real Estate Credit Investments Limited Competitors by Market Cap
The table below lists competitors of Real Estate Credit Investments Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chatham Rock Phosphate Ltd
V:NZP
|
$3.25 Million |
|
TFP Solutions Bhd
KLSE:0145
|
$3.25 Million |
|
RevoluGROUP Canada Inc
V:REVO
|
$3.26 Million |
|
Cascadero Copper Corp
V:CCD
|
$3.26 Million |
|
Qlife Holding AB
ST:QLIFE
|
$3.24 Million |
|
Victorian Plumbing Group PLC
LSE:VIC
|
$3.24 Million |
|
Comanche International Public Company Limited
BK:COMAN
|
$3.24 Million |
|
iCoreConnect Inc. Common stock
NASDAQ:ICCT
|
$3.23 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Real Estate Credit Investments Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 326,381,689 to 318,356,000, a change of -8,025,689 (-2.5%).
- Net income of 22,817,000 contributed positively to equity growth.
- Dividend payments of 26,673,000 reduced retained earnings.
- Share repurchases of 4,170,000 reduced equity.
- Other comprehensive income decreased equity by 13,049,039.
- Other factors increased equity by 13,049,350.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX22.82 Million | +7.17% |
| Dividends Paid | GBX26.67 Million | -8.38% |
| Share Repurchases | GBX4.17 Million | -1.31% |
| Other Comprehensive Income | GBX-13.05 Million | -4.1% |
| Other Changes | GBX13.05 Million | +4.1% |
| Total Change | GBX- | -2.46% |
Book Value vs Market Value Analysis
This analysis compares Real Estate Credit Investments Limited'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: 84.01x
- 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 15.90x to 84.01x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | GBX7.55 | GBX120.00 | x |
| 2008-03-31 | GBX4.22 | GBX120.00 | x |
| 2009-03-31 | GBX3.47 | GBX120.00 | x |
| 2010-03-31 | GBX3.32 | GBX120.00 | x |
| 2011-03-31 | GBX1.99 | GBX120.00 | x |
| 2012-03-31 | GBX1.56 | GBX120.00 | x |
| 2013-03-31 | GBX1.83 | GBX120.00 | x |
| 2014-03-31 | GBX1.66 | GBX120.00 | x |
| 2015-03-31 | GBX1.62 | GBX120.00 | x |
| 2016-03-31 | GBX1.63 | GBX120.00 | x |
| 2017-03-31 | GBX1.97 | GBX120.00 | x |
| 2018-03-31 | GBX2.00 | GBX120.00 | x |
| 2019-03-31 | GBX1.73 | GBX120.00 | x |
| 2020-03-31 | GBX1.69 | GBX120.00 | x |
| 2021-03-31 | GBX1.51 | GBX120.00 | x |
| 2022-03-31 | GBX1.50 | GBX120.00 | x |
| 2023-03-31 | GBX1.47 | GBX120.00 | x |
| 2024-03-31 | GBX1.43 | GBX120.00 | x |
| 2025-03-31 | GBX1.43 | GBX120.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Real Estate Credit Investments Limited 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): 7.17%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 75.80%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.23x
- Recent ROE (7.17%) is above the historical average (4.68%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -11.21% | 0.00% | -0.06x | 1.23x | GBX-33.28 Million |
| 2009 | -56.70% | 0.00% | -0.40x | 1.31x | GBX-65.22 Million |
| 2010 | 2.29% | 38.03% | 0.05x | 1.12x | GBX-6.83 Million |
| 2011 | 20.43% | 88.57% | 0.13x | 1.76x | GBX7.02 Million |
| 2012 | 1.60% | 22.53% | 0.04x | 1.79x | GBX-5.25 Million |
| 2013 | 39.02% | 83.55% | 0.28x | 1.64x | GBX21.19 Million |
| 2014 | 6.27% | 60.39% | 0.08x | 1.37x | GBX-4.51 Million |
| 2015 | 22.26% | 84.71% | 0.19x | 1.38x | GBX14.49 Million |
| 2016 | 7.19% | 66.11% | 0.08x | 1.38x | GBX-3.34 Million |
| 2017 | 6.29% | 57.65% | 0.08x | 1.31x | GBX-5.35 Million |
| 2018 | 6.54% | 72.53% | 0.07x | 1.35x | GBX-7.92 Million |
| 2019 | 7.60% | 76.11% | 0.07x | 1.40x | GBX-6.09 Million |
| 2020 | -5.17% | 0.00% | -0.02x | 1.31x | GBX-51.14 Million |
| 2021 | 10.74% | 82.18% | 0.11x | 1.23x | GBX2.56 Million |
| 2022 | 7.15% | 75.92% | 0.07x | 1.30x | GBX-9.82 Million |
| 2023 | 6.10% | 112.21% | 0.04x | 1.24x | GBX-13.15 Million |
| 2024 | 6.70% | 70.28% | 0.09x | 1.08x | GBX-10.78 Million |
| 2025 | 7.17% | 75.80% | 0.08x | 1.23x | GBX-9.02 Million |
Industry Comparison
This section compares Real Estate Credit Investments Limited's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $745,852,800
- Average return on equity (ROE) among peers: 2.99%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Real Estate Credit Investments Limited (RECI) | GBX314.02 Million | -11.21% | 0.37x | $3.24 Million |
| 3I Infrastructure PLC (3IN) | $1.20 Billion | 4.98% | 0.15x | $42.14 Million |
| Albion Enterprise VCT PLC (AAEV) | $61.87 Million | 11.55% | 0.03x | $3.29 Million |
| abrdn Asian Income Fund Limited (AAIF) | $431.87 Million | 14.17% | 0.08x | $5.17 Million |
| Abrdn Asia Focus PLC (AAS) | $98.67 Million | 9.82% | 0.09x | $7.49 Million |
| Albion Technology & General VCT PLC (AATG) | $64.83 Million | 5.63% | 0.01x | $3.22 Million |
| Abrdn PLC (ABDN) | $4.56 Billion | 10.22% | 39.48x | $45.21 Million |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $426.87 Million | 6.29% | 0.20x | $450.86K |
| Aquila Energy Efficiency Trust PLC (AEET) | $69.67 Million | -2.91% | 0.02x | $261.59K |
| Aquila European Renewables Income PLC (AERI) | $372.54 Million | -8.03% | 0.00x | $79.35 Million |
| Artemis UK Future Leaders plc (AFL) | $174.91 Million | -21.80% | 0.02x | $415.29 |
About Real Estate Credit Investments Limited
Real Estate Credit Investments Limited is a closed-ended fixed income mutual fund launched and managed by Cheyne Capital Management (UK) LLP. The fund invests in the fixed income markets across the globe. It primarily makes its investments in asset backed securities. The fund considers coupon or cash flows on the tranche relative to the underlying credit to make its investments. It was formerly k… Read more