Target Healthcare REIT Ltd (THRL) - Net Assets
Based on the latest financial reports, Target Healthcare REIT Ltd (THRL) has net assets worth GBX740.28 Million GBX (≈ $90.07K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX976.51 Million ≈ $118.81K USD) and total liabilities (GBX236.22 Million ≈ $28.74K 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. Explore THRL cash flow conversion to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX740.28 Million |
| % of Total Assets | 75.81% |
| Annual Growth Rate | 33.33% |
| 5-Year Change | 26.06% |
| 10-Year Change | 181.29% |
| Growth Volatility | 176.31 |
Target Healthcare REIT Ltd - Net Assets Trend (2005–2025)
This chart illustrates how Target Healthcare REIT Ltd's net assets have evolved over time, based on quarterly financial data. Explore Target Healthcare REIT Ltd long-term investment intensity to see how much of total assets are deployed in long-term investments.
Annual Net Assets for Target Healthcare REIT Ltd (2005–2025)
The table below shows the annual net assets of Target Healthcare REIT Ltd from 2005 to 2025. For live valuation and market cap data, see THRL market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | GBX712.46 Million ≈ $86.69K |
+3.36% |
| 2024-06-30 | GBX689.29 Million ≈ $83.87K |
+5.27% |
| 2023-06-30 | GBX654.81 Million ≈ $79.67K |
-6.29% |
| 2022-06-30 | GBX698.77 Million ≈ $85.02K |
+23.64% |
| 2021-06-30 | GBX565.18 Million ≈ $68.77K |
+14.38% |
| 2020-06-30 | GBX494.11 Million ≈ $60.12K |
+19.61% |
| 2019-06-30 | GBX413.09 Million ≈ $50.26K |
+15.19% |
| 2018-06-30 | GBX358.61 Million ≈ $43.63K |
+39.57% |
| 2017-06-30 | GBX256.94 Million ≈ $31.26K |
+1.44% |
| 2016-06-30 | GBX253.28 Million ≈ $30.82K |
+81.84% |
| 2015-06-30 | GBX139.29 Million ≈ $16.95K |
+54.39% |
| 2014-06-30 | GBX90.22 Million ≈ $10.98K |
+795.20% |
| 2013-06-30 | GBX10.08 Million ≈ $1.23K |
-3.69% |
| 2012-06-30 | GBX10.46 Million ≈ $1.27K |
+18.10% |
| 2011-06-30 | GBX8.86 Million ≈ $1.08K |
+27.87% |
| 2010-06-30 | GBX6.93 Million ≈ $843.06 |
+0.61% |
| 2009-06-30 | GBX6.89 Million ≈ $837.95 |
-12.22% |
| 2008-06-30 | GBX7.85 Million ≈ $954.63 |
+17.23% |
| 2007-06-30 | GBX6.69 Million ≈ $814.34 |
+252.08% |
| 2006-06-30 | GBX1.90 Million ≈ $231.30 |
-15.92% |
| 2005-06-30 | GBX2.26 Million ≈ $275.10 |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Target Healthcare REIT 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 18730400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX187.30 Million | 26.29% |
| Common Stock | GBX6.20 Million | 0.87% |
| Other Comprehensive Income | GBX262.32 Million | 36.82% |
| Other Components | GBX256.63 Million | 36.02% |
| Total Equity | GBX712.46 Million | 100.00% |
Target Healthcare REIT Ltd Competitors by Market Cap
The table below lists competitors of Target Healthcare REIT Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Progressive Impact Corporation Bhd
KLSE:7201
|
$8.23 Million |
|
Power Line Engineering Public Company Limited
BK:PLE
|
$8.23 Million |
|
BigBen Interactive
PA:BIG
|
$8.25 Million |
|
InTiCa Systems AG
F:IS7
|
$8.25 Million |
|
Megado Minerals Ltd
AU:MEG
|
$8.22 Million |
|
Newcity (Bangkok) Public Company Limited
BK:NC
|
$8.22 Million |
|
Moonpig Group PLC
LSE:MOON
|
$8.22 Million |
|
Granada Gold Mine Inc
V:GGM
|
$8.22 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Target Healthcare REIT Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 689,293,000 to 712,460,000, a change of 23,167,000 (3.4%).
- Net income of 60,845,000 contributed positively to equity growth.
- Dividend payments of 36,114,000 reduced retained earnings.
- Other comprehensive income increased equity by 12,565,000.
- Other factors decreased equity by 14,129,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX60.84 Million | +8.54% |
| Dividends Paid | GBX36.11 Million | -5.07% |
| Other Comprehensive Income | GBX12.56 Million | +1.76% |
| Other Changes | GBX-14.13 Million | -1.98% |
| Total Change | GBX- | 3.36% |
Book Value vs Market Value Analysis
This analysis compares Target Healthcare REIT 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: 94.89x
- 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 87.37x to 94.89x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-06-30 | GBX1.25 | GBX109.00 | x |
| 2015-06-30 | GBX1.17 | GBX109.00 | x |
| 2016-06-30 | GBX1.47 | GBX109.00 | x |
| 2017-06-30 | GBX1.02 | GBX109.00 | x |
| 2018-06-30 | GBX1.27 | GBX109.00 | x |
| 2019-06-30 | GBX1.12 | GBX109.00 | x |
| 2020-06-30 | GBX1.12 | GBX109.00 | x |
| 2021-06-30 | GBX1.19 | GBX109.00 | x |
| 2022-06-30 | GBX1.17 | GBX109.00 | x |
| 2023-06-30 | GBX1.06 | GBX109.00 | x |
| 2024-06-30 | GBX1.11 | GBX109.00 | x |
| 2025-06-30 | GBX1.15 | GBX109.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Target Healthcare REIT 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): 8.54%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 83.43%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.38x
- Recent ROE (8.54%) is above the historical average (6.15%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 0.61% | 12.38% | 0.04x | 1.16x | GBX-8.47 Million |
| 2015 | 6.86% | 69.60% | 0.08x | 1.27x | GBX-4.38 Million |
| 2016 | 4.62% | 69.35% | 0.06x | 1.12x | GBX-13.63 Million |
| 2017 | 7.44% | 82.75% | 0.08x | 1.19x | GBX-6.57 Million |
| 2018 | 7.70% | 97.33% | 0.07x | 1.21x | GBX-8.25 Million |
| 2019 | 7.23% | 91.60% | 0.06x | 1.30x | GBX-11.42 Million |
| 2020 | 6.40% | 88.02% | 0.05x | 1.34x | GBX-17.79 Million |
| 2021 | 7.76% | 89.18% | 0.07x | 1.27x | GBX-12.63 Million |
| 2022 | 7.03% | 88.47% | 0.06x | 1.38x | GBX-20.78 Million |
| 2023 | -1.00% | 0.00% | 0.00x | 1.39x | GBX-72.05 Million |
| 2024 | 10.59% | 93.05% | 0.08x | 1.40x | GBX4.09 Million |
| 2025 | 8.54% | 83.43% | 0.07x | 1.38x | GBX-10.40 Million |
Industry Comparison
This section compares Target Healthcare REIT Ltd's net assets metrics with peer companies in the REIT - Healthcare Facilities industry.
Industry Context
- Industry: REIT - Healthcare Facilities
- Average net assets among peers: $154,041,000
- Average return on equity (ROE) among peers: -4.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Target Healthcare REIT Ltd (THRL) | GBX740.28 Million | 0.61% | 0.32x | $8.23 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 |
| Primary Health Properties (PHP) | $15.70 Million | 0.80% | 0.01x | $29.68 Million |
About Target Healthcare REIT Ltd
Target Healthcare REIT PLC is an externally managed FTSE 250 Real Estate Investment Trust. The firm provides shareholders with an attractive level of income, together with the potential for capital and income growth, from investing in a diversified portfolio of modern, purpose-built care homes. The Group portfolio at 31 December 2025 comprised 86 assets let to 32 tenants with a total value of 894… Read more