Frasers Centrepoint Trust
Frasers Centrepoint Trust ("FCT") is a leading developer-sponsored retail real estate investment trust ("REIT") with assets under management of approximately $8.3 billion. FCT is the largest suburban retail mall owners in Singapore. Its Singapore retail portfolio include Causeway Point, Century Square, Hougang Mall, NEX (effective 50.0% interest), Northpoint City, Tampines 1, Tiong Bahru Plaza, W… Read more
Frasers Centrepoint Trust (FRZCF) - Net Assets
Latest net assets as of March 2025: $4.15 Billion USD
Based on the latest financial reports, Frasers Centrepoint Trust (FRZCF) has net assets worth $4.15 Billion USD as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($6.38 Billion) and total liabilities ($2.23 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 | $4.15 Billion |
| % of Total Assets | 65.11% |
| Annual Growth Rate | 10.62% |
| 5-Year Change | 16.59% |
| 10-Year Change | 157.31% |
| Growth Volatility | 13.22 |
Frasers Centrepoint Trust - Net Assets Trend (2006–2025)
This chart illustrates how Frasers Centrepoint 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 Frasers Centrepoint Trust (2006–2025)
The table below shows the annual net assets of Frasers Centrepoint Trust from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $4.57 Billion | +9.81% |
| 2024-09-30 | $4.16 Billion | +4.72% |
| 2023-09-30 | $3.97 Billion | +0.23% |
| 2022-09-30 | $3.96 Billion | +1.16% |
| 2021-09-30 | $3.92 Billion | +54.39% |
| 2020-09-30 | $2.54 Billion | +2.72% |
| 2019-09-30 | $2.47 Billion | +27.79% |
| 2018-09-30 | $1.93 Billion | +3.29% |
| 2017-09-30 | $1.87 Billion | +5.44% |
| 2016-09-30 | $1.78 Billion | +1.20% |
| 2015-09-30 | $1.75 Billion | +3.29% |
| 2014-09-30 | $1.70 Billion | +16.16% |
| 2013-09-30 | $1.46 Billion | +15.78% |
| 2012-09-30 | $1.26 Billion | +9.65% |
| 2011-09-30 | $1.15 Billion | +16.44% |
| 2010-09-30 | $989.25 Million | +29.52% |
| 2009-09-30 | $763.78 Million | -0.45% |
| 2008-09-30 | $767.24 Million | +7.27% |
| 2007-09-30 | $715.26 Million | +6.60% |
| 2006-09-30 | $670.99 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Frasers Centrepoint 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 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $4.55 Billion | 100.00% |
| Total Equity | $4.55 Billion | 100.00% |
Frasers Centrepoint Trust Competitors by Market Cap
The table below lists competitors of Frasers Centrepoint Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Yongxing Special Stainless Steel Co Ltd
SHE:002756
|
$2.53 Billion |
|
Mineral Res
PINK:MALRY
|
$2.53 Billion |
|
Kokuyo Co., Ltd.
PINK:KUKYF
|
$2.53 Billion |
|
Alupar Investimento SA
SA:ALUP11
|
$2.54 Billion |
|
Travere Therapeutics Inc
NASDAQ:TVTX
|
$2.53 Billion |
|
Digitalbridge Group Inc
NYSE:DBRG
|
$2.53 Billion |
|
Operadora de Sites Mexicanos S.A. de C.V
PINK:OPMXF
|
$2.53 Billion |
|
MAINFREIGHT LTD
F:NK7
|
$2.53 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Frasers Centrepoint Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,160,666,000 to 4,550,000,000, a change of 389,334,000 (9.4%).
- Net income of 200,146,000 contributed positively to equity growth.
- Dividend payments of 222,000,000 reduced retained earnings.
- Other factors increased equity by 411,188,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $200.15 Million | +4.4% |
| Dividends Paid | $222.00 Million | -4.88% |
| Other Changes | $411.19 Million | +9.04% |
| Total Change | $- | 9.36% |
Book Value vs Market Value Analysis
This analysis compares Frasers Centrepoint 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: 0.60x
- 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 1.60x to 0.60x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-09-30 | $1.15 | $1.84 | x |
| 2008-09-30 | $1.23 | $1.84 | x |
| 2009-09-30 | $1.22 | $1.84 | x |
| 2010-09-30 | $1.36 | $1.84 | x |
| 2011-09-30 | $1.48 | $1.84 | x |
| 2012-09-30 | $1.52 | $1.84 | x |
| 2013-09-30 | $1.76 | $1.84 | x |
| 2014-09-30 | $1.97 | $1.84 | x |
| 2015-09-30 | $1.90 | $1.84 | x |
| 2016-09-30 | $1.92 | $1.84 | x |
| 2017-09-30 | $2.01 | $1.84 | x |
| 2018-09-30 | $2.07 | $1.84 | x |
| 2019-09-30 | $2.47 | $1.84 | x |
| 2020-09-30 | $2.25 | $1.84 | x |
| 2021-09-30 | $2.34 | $1.84 | x |
| 2022-09-30 | $2.33 | $1.84 | x |
| 2023-09-30 | $2.32 | $1.84 | x |
| 2024-09-30 | $2.33 | $1.84 | x |
| 2025-09-30 | $3.05 | $1.84 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Frasers Centrepoint 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): 4.40%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 51.22%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 1.68x
- Recent ROE (4.40%) is below the historical average (9.31%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 18.32% | 138.05% | 0.09x | 1.47x | $59.47 Million |
| 2008 | 12.37% | 112.10% | 0.08x | 1.47x | $18.19 Million |
| 2009 | 5.33% | 46.97% | 0.07x | 1.53x | $-35.69 Million |
| 2010 | 9.60% | 82.79% | 0.08x | 1.53x | $-3.93 Million |
| 2011 | 13.22% | 134.61% | 0.06x | 1.55x | $37.08 Million |
| 2012 | 14.69% | 126.06% | 0.08x | 1.52x | $59.26 Million |
| 2013 | 19.68% | 182.18% | 0.07x | 1.46x | $141.53 Million |
| 2014 | 9.72% | 97.81% | 0.07x | 1.48x | $-4.80 Million |
| 2015 | 9.77% | 90.61% | 0.07x | 1.45x | $-3.99 Million |
| 2016 | 6.95% | 67.16% | 0.07x | 1.46x | $-54.12 Million |
| 2017 | 10.36% | 106.78% | 0.07x | 1.47x | $6.68 Million |
| 2018 | 8.63% | 86.28% | 0.07x | 1.47x | $-26.56 Million |
| 2019 | 8.33% | 104.87% | 0.05x | 1.46x | $-41.16 Million |
| 2020 | 5.98% | 92.27% | 0.04x | 1.53x | $-102.15 Million |
| 2021 | 4.30% | 49.43% | 0.06x | 1.51x | $-223.25 Million |
| 2022 | 5.23% | 58.07% | 0.06x | 1.50x | $-189.13 Million |
| 2023 | 5.33% | 57.33% | 0.06x | 1.60x | $-185.37 Million |
| 2024 | 4.75% | 56.16% | 0.06x | 1.53x | $-218.52 Million |
| 2025 | 4.40% | 51.22% | 0.05x | 1.68x | $-254.85 Million |
Industry Comparison
This section compares Frasers Centrepoint Trust'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 |
|---|---|---|---|---|
| Frasers Centrepoint Trust (FRZCF) | $4.15 Billion | 18.32% | 0.54x | $2.53 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 |