Warehouse REIT plc
Warehouse REIT is a UK Real Estate Investment Trust that invests in UK warehouses, focused on multi-let assets in industrial hubs across the UK. We provide a range of warehouse accommodation in key locations, which meets the needs of a broad range of occupiers. Our focus on multi-let assets means we provide occupiers with greater flexibility so we can continue to match their requirements as their… Read more
Warehouse REIT plc (WHR) - Net Assets
Latest net assets as of March 2025: GBX550.11 Million GBX
Based on the latest financial reports, Warehouse REIT plc (WHR) has net assets worth GBX550.11 Million GBX as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX850.23 Million) and total liabilities (GBX300.12 Million). 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 | GBX550.11 Million |
| % of Total Assets | 64.7% |
| Annual Growth Rate | 18.31% |
| 5-Year Change | -4.18% |
| 10-Year Change | N/A |
| Growth Volatility | 43.58 |
Warehouse REIT plc - Net Assets Trend (2018–2025)
This chart illustrates how Warehouse REIT plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Warehouse REIT plc (2018–2025)
The table below shows the annual net assets of Warehouse REIT plc from 2018 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | GBX550.11 Million | +2.71% |
| 2024-03-31 | GBX535.59 Million | +1.35% |
| 2023-03-31 | GBX528.48 Million | -28.48% |
| 2022-03-31 | GBX738.95 Million | +28.72% |
| 2021-03-31 | GBX574.09 Million | +118.19% |
| 2020-03-31 | GBX263.12 Million | +44.31% |
| 2019-03-31 | GBX182.33 Million | +7.56% |
| 2018-03-31 | GBX169.51 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Warehouse REIT plc'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 3930.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX270.21 Million | 49.12% |
| Common Stock | GBX4.25 Million | 0.77% |
| Other Components | GBX275.65 Million | 50.11% |
| Total Equity | GBX550.11 Million | 100.00% |
Warehouse REIT plc Competitors by Market Cap
The table below lists competitors of Warehouse REIT plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Focus Impact Acquisition Corp. Warrant
PINK:FIACW
|
$58.42K |
|
PENNON GRP - Dusseldorf Stock Exchang
DU:3PNA
|
$58.56K |
|
4by4 Inc
KQ:389140
|
$58.72K |
|
CURY3F
SA:CURY3F
|
$58.78K |
|
USA TODAY Co., Inc.
NYSE:TDAY
|
$58.40K |
|
WEBRAY ORD A (SHH) EQSW Exp:
SHG:688651
|
$58.40K |
|
Turn Cloud Technology Service Inc.
TWO:6870
|
$58.38K |
|
Korea Kolmar Holdings Co. Ltd.
KQ:024720
|
$58.37K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Warehouse REIT plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 535,589,000 to 550,106,000, a change of 14,517,000 (2.7%).
- Net income of 41,709,000 contributed positively to equity growth.
- Dividend payments of 27,192,000 reduced retained earnings.
- Other comprehensive income decreased equity by 161,149,000.
- Other factors increased equity by 161,149,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX41.71 Million | +7.58% |
| Dividends Paid | GBX27.19 Million | -4.94% |
| Other Comprehensive Income | GBX-161.15 Million | -29.29% |
| Other Changes | GBX161.15 Million | +29.29% |
| Total Change | GBX- | 2.71% |
Book Value vs Market Value Analysis
This analysis compares Warehouse REIT plc'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: 87.27x
- 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 189.79x to 87.27x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-03-31 | GBX0.60 | GBX113.00 | x |
| 2019-03-31 | GBX0.64 | GBX113.00 | x |
| 2020-03-31 | GBX1.09 | GBX113.00 | x |
| 2021-03-31 | GBX1.64 | GBX113.00 | x |
| 2022-03-31 | GBX1.74 | GBX113.00 | x |
| 2023-03-31 | GBX1.24 | GBX113.00 | x |
| 2024-03-31 | GBX1.26 | GBX113.00 | x |
| 2025-03-31 | GBX1.29 | GBX113.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Warehouse REIT plc 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): 7.58%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 75.04%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.55x
- Recent ROE (7.58%) is above the historical average (6.50%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 4.93% | 127.40% | 0.02x | 1.81x | GBX-8.59 Million |
| 2019 | 12.49% | 75.01% | 0.09x | 1.76x | GBX4.54 Million |
| 2020 | 7.86% | 68.80% | 0.06x | 1.79x | GBX-5.64 Million |
| 2021 | 21.44% | 344.29% | 0.04x | 1.46x | GBX65.70 Million |
| 2022 | 25.87% | 372.02% | 0.05x | 1.42x | GBX117.31 Million |
| 2023 | -34.60% | 0.00% | -0.19x | 1.68x | GBX-235.71 Million |
| 2024 | 6.41% | 67.23% | 0.06x | 1.60x | GBX-19.25 Million |
| 2025 | 7.58% | 75.04% | 0.07x | 1.55x | GBX-13.30 Million |
Industry Comparison
This section compares Warehouse REIT plc's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $503,529,000
- Average return on equity (ROE) among peers: 7.12%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Warehouse REIT plc (WHR) | GBX550.11 Million | 4.93% | 0.55x | $58.41K |
| Tritax Big Box REIT plc (BBOX) | $503.53 Million | 7.12% | 0.43x | $561.54K |