Vicinity Centres
Vicinity Centres (Vicinity or the Group) is one of Australia leading retail property groups with a fully integrated asset management platform, and $24 billion in retail assets under management across 52 shopping centres, making it the second largest listed manager of Australian retail property. The Group has a Direct Portfolio with interests in 51 shopping centres (including the DFO Brisbane busi… Read more
Vicinity Centres (CNRAF) - Net Assets
Latest net assets as of June 2025: $11.13 Billion USD
Based on the latest financial reports, Vicinity Centres (CNRAF) has net assets worth $11.13 Billion USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($16.34 Billion) and total liabilities ($5.21 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 | $11.13 Billion |
| % of Total Assets | 68.09% |
| Annual Growth Rate | 8.95% |
| 5-Year Change | 11.13% |
| 10-Year Change | 2.57% |
| Growth Volatility | 50.24 |
Vicinity Centres - Net Assets Trend (2011–2025)
This chart illustrates how Vicinity Centres's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Vicinity Centres (2011–2025)
The table below shows the annual net assets of Vicinity Centres from 2011 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | $11.13 Billion | +4.60% |
| 2024-06-30 | $10.64 Billion | +0.01% |
| 2023-06-30 | $10.64 Billion | -2.27% |
| 2022-06-30 | $10.89 Billion | +8.70% |
| 2021-06-30 | $10.01 Billion | -5.17% |
| 2020-06-30 | $10.56 Billion | -8.88% |
| 2019-06-30 | $11.59 Billion | -4.28% |
| 2018-06-30 | $12.11 Billion | +3.06% |
| 2017-06-30 | $11.75 Billion | +8.28% |
| 2016-06-30 | $10.85 Billion | +2.39% |
| 2015-06-30 | $10.60 Billion | +195.19% |
| 2014-06-30 | $3.59 Billion | +6.73% |
| 2013-06-30 | $3.36 Billion | +0.46% |
| 2012-06-30 | $3.35 Billion | -0.12% |
| 2011-06-30 | $3.35 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Vicinity Centres'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 198860000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.99 Billion | 17.87% |
| Other Components | $9.14 Billion | 82.13% |
| Total Equity | $11.13 Billion | 100.00% |
Vicinity Centres Competitors by Market Cap
The table below lists competitors of Vicinity Centres ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Yuhan Corp.
KO:000100
|
$4.21 Billion |
|
Bharat Heavy Electricals Limited
NSE:BHEL
|
$4.21 Billion |
|
Thyssenkrupp AG O.N.
PINK:TYEKF
|
$4.21 Billion |
|
Technip Energies N.V
PINK:THNPF
|
$4.21 Billion |
|
Shenzhen Kaifa Technology Co Ltd
SHE:000021
|
$4.21 Billion |
|
Steadfast Group Ltd
PINK:SFGLF
|
$4.21 Billion |
|
Amundi SA
PINK:AMDUF
|
$4.20 Billion |
|
Amentum Holdings Inc.
NYSE:AMTM
|
$4.20 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vicinity Centres's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,638,900,000 to 11,127,900,000, a change of 489,000,000 (4.6%).
- Net income of 1,004,600,000 contributed positively to equity growth.
- Dividend payments of 516,100,000 reduced retained earnings.
- Other comprehensive income decreased equity by 13,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.00 Billion | +9.03% |
| Dividends Paid | $516.10 Million | -4.64% |
| Other Comprehensive Income | $-13.30 Million | -0.12% |
| Other Changes | $13.80 Million | +0.12% |
| Total Change | $- | 4.60% |
Book Value vs Market Value Analysis
This analysis compares Vicinity Centres'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: 0.45x
- 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.
- The price-to-book ratio has decreased from 1.49x to 0.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-06-30 | $0.74 | $1.10 | x |
| 2012-06-30 | $0.74 | $1.10 | x |
| 2013-06-30 | $0.74 | $1.10 | x |
| 2014-06-30 | $0.79 | $1.10 | x |
| 2015-06-30 | $2.33 | $1.10 | x |
| 2016-06-30 | $2.38 | $1.10 | x |
| 2017-06-30 | $2.58 | $1.10 | x |
| 2018-06-30 | $2.66 | $1.10 | x |
| 2019-06-30 | $2.55 | $1.10 | x |
| 2020-06-30 | $2.32 | $1.10 | x |
| 2021-06-30 | $2.20 | $1.10 | x |
| 2022-06-30 | $2.39 | $1.10 | x |
| 2023-06-30 | $2.33 | $1.10 | x |
| 2024-06-30 | $2.33 | $1.10 | x |
| 2025-06-30 | $2.44 | $1.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vicinity Centres 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): 9.03%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 76.00%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.47x
- Recent ROE (9.03%) is above the historical average (4.43%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | -6.66% | -77.74% | 0.06x | 1.52x | $-557.66 Million |
| 2013 | 6.32% | 42.46% | 0.10x | 1.56x | $-123.65 Million |
| 2014 | 12.29% | 84.86% | 0.10x | 1.46x | $82.38 Million |
| 2015 | 6.37% | 77.70% | 0.06x | 1.48x | $-384.46 Million |
| 2016 | 8.86% | 72.44% | 0.08x | 1.46x | $-124.00 Million |
| 2017 | 13.48% | 121.62% | 0.08x | 1.42x | $408.83 Million |
| 2018 | 10.07% | 89.47% | 0.08x | 1.44x | $7.95 Million |
| 2019 | 2.99% | 26.51% | 0.08x | 1.47x | $-812.81 Million |
| 2020 | -17.06% | -148.07% | 0.08x | 1.44x | $-2.86 Billion |
| 2021 | -2.56% | -23.11% | 0.08x | 1.43x | $-1.26 Billion |
| 2022 | 11.16% | 102.77% | 0.08x | 1.43x | $126.69 Million |
| 2023 | 2.55% | 22.06% | 0.08x | 1.46x | $-792.31 Million |
| 2024 | 5.14% | 41.54% | 0.08x | 1.48x | $-516.79 Million |
| 2025 | 9.03% | 76.00% | 0.08x | 1.47x | $-108.19 Million |
Industry Comparison
This section compares Vicinity Centres's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,048,860,627
- Average return on equity (ROE) among peers: 3.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vicinity Centres (CNRAF) | $11.13 Billion | -6.66% | 0.47x | $4.21 Billion |
| 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 |
| CapitaLand China Trust (CLDHF) | $1.93 Billion | 4.63% | 1.02x | $745.61 Million |