CapitaLand China Trust
CapitaLand China Trust (CLCT) is Singapore's largest China-focused real estate investment trust (REIT). CLCT's portfolio comprises eight shopping malls, five business park properties and four logistics park properties. Its total property value is S$4.2 billion based on valuations as at 31 December 2025. The geographically diversified portfolio has a total gross floor area of approximately 1.7 mil… Read more
CapitaLand China Trust (CLDHF) - Net Assets
Latest net assets as of December 2025: $2.23 Billion USD
Based on the latest financial reports, CapitaLand China Trust (CLDHF) has net assets worth $2.23 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($4.48 Billion) and total liabilities ($2.26 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 | $2.23 Billion |
| % of Total Assets | 49.67% |
| Annual Growth Rate | 9.25% |
| 5-Year Change | 5.3% |
| 10-Year Change | N/A |
| Growth Volatility | 33.23 |
CapitaLand China Trust - Net Assets Trend (2016–2025)
This chart illustrates how CapitaLand China Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for CapitaLand China Trust (2016–2025)
The table below shows the annual net assets of CapitaLand China Trust from 2016 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.23 Billion | -3.55% |
| 2024-12-31 | $2.31 Billion | +91.42% |
| 2023-12-31 | $1.21 Billion | -37.32% |
| 2022-12-31 | $1.93 Billion | -9.00% |
| 2021-12-31 | $2.12 Billion | +24.54% |
| 2020-12-31 | $1.70 Billion | +21.92% |
| 2019-12-31 | $1.39 Billion | +20.85% |
| 2018-12-31 | $1.15 Billion | -1.73% |
| 2017-12-31 | $1.17 Billion | +16.77% |
| 2016-12-31 | $1.00 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to CapitaLand China Trust'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 (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $1.94 Billion | 100.00% |
| Total Equity | $1.94 Billion | 100.00% |
CapitaLand China Trust Competitors by Market Cap
The table below lists competitors of CapitaLand China Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
First National Financial Corporation
PINK:FNLIF
|
$745.82 Million |
|
Array Digital Infrastructure, Inc.
NYSE:AD
|
$745.85 Million |
|
Southern Sun Ltd.
JSE:SSU
|
$745.85 Million |
|
Zhejiang HangKe Technology Co Ltd
SHG:688006
|
$746.42 Million |
|
Bellevue Gold Limited
PINK:BELGF
|
$745.48 Million |
|
Zhejiang Wanliyang Transmission Co Ltd
SHE:002434
|
$745.30 Million |
|
Mimasu Semiconductor Industry Co. Ltd
MU:MU2
|
$745.20 Million |
|
Zenas BioPharma, Inc. Common Stock
NASDAQ:ZBIO
|
$745.09 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CapitaLand China Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,026,254,000 to 1,939,412,000, a change of -86,842,000 (-4.3%).
- Net loss of 7,723,813 reduced equity.
- Dividend payments of 88,743,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-7.72 Million | -0.4% |
| Dividends Paid | $88.74 Million | -4.58% |
| Other Changes | $9.62 Million | +0.5% |
| Total Change | $- | -4.29% |
Book Value vs Market Value Analysis
This analysis compares CapitaLand China Trust'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: 0.40x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $1.23 | $0.57 | x |
| 2017-12-31 | $1.44 | $0.57 | x |
| 2018-12-31 | $1.42 | $0.57 | x |
| 2019-12-31 | $1.74 | $0.57 | x |
| 2020-12-31 | $1.36 | $0.57 | x |
| 2021-12-31 | $1.23 | $0.57 | x |
| 2022-12-31 | $1.02 | $0.57 | x |
| 2023-12-31 | $0.91 | $0.57 | x |
| 2024-12-31 | $1.19 | $0.57 | x |
| 2025-12-31 | $1.42 | $0.57 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CapitaLand China Trust 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): -0.40%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -3.25%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 2.31x
- Recent ROE (-0.40%) is below the historical average (4.48%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 8.94% | 59.20% | 0.08x | 1.94x | $-10.54 Million |
| 2017 | 8.87% | 59.32% | 0.09x | 1.72x | $-13.09 Million |
| 2018 | 8.72% | 59.20% | 0.08x | 1.92x | $-14.62 Million |
| 2019 | 8.83% | 66.07% | 0.07x | 2.03x | $-16.32 Million |
| 2020 | -0.56% | -5.72% | 0.05x | 1.92x | $-179.44 Million |
| 2021 | 3.99% | 26.93% | 0.07x | 2.15x | $-115.25 Million |
| 2022 | 5.19% | 30.62% | 0.07x | 2.27x | $-82.72 Million |
| 2023 | 2.00% | 10.31% | 0.08x | 2.45x | $-123.56 Million |
| 2024 | -0.72% | -4.30% | 0.07x | 2.33x | $-217.31 Million |
| 2025 | -0.40% | -3.25% | 0.05x | 2.31x | $-201.67 Million |
Industry Comparison
This section compares CapitaLand China Trust's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $24,284,825,860
- Average return on equity (ROE) among peers: 3.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CapitaLand China Trust (CLDHF) | $2.23 Billion | 8.94% | 1.01x | $745.61 Million |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.41 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.69 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.07 Billion | 3.30% | 0.75x | $1.50 Billion |
| Alexanders Inc (ALX) | $50.92 Million | -34.84% | 17.09x | $515.62 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.57 Million |
| Brixmor Property (BRX) | $2.72 Billion | 9.94% | 2.08x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $1.08 Billion | 10.83% | 4.49x | $694.28 Million |
| Capital & Counties Properties PLC (CCPPF) | $2.51 Billion | 17.90% | 0.23x | $1.88 Billion |