Goodman Group
Goodman Group is a provider of essential infrastructure. It owns, develops and manages high quality, sustainable logistics properties and data centres in major global cities, that are critical to the digital economy. Goodman has operations in key consumer markets across Australia, New Zealand, Asia, Europe, the United Kingdom, and the Americas. Goodman Group, comprised of the stapled entities Goo… Read more
Goodman Group (GMGSF) - Net Assets
Latest net assets as of December 2025: $23.74 Billion USD
Based on the latest financial reports, Goodman Group (GMGSF) has net assets worth $23.74 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 ($30.31 Billion) and total liabilities ($6.57 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 | $23.74 Billion |
| % of Total Assets | 78.32% |
| Annual Growth Rate | 10.63% |
| 5-Year Change | 77.11% |
| 10-Year Change | 177.72% |
| Growth Volatility | 11.5 |
Goodman Group - Net Assets Trend (2005–2025)
This chart illustrates how Goodman Group's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Goodman Group (2005–2025)
The table below shows the annual net assets of Goodman Group from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | $23.31 Billion | +32.91% |
| 2024-06-30 | $17.54 Billion | -2.70% |
| 2023-06-30 | $18.02 Billion | +9.74% |
| 2022-06-30 | $16.42 Billion | +24.79% |
| 2021-06-30 | $13.16 Billion | +14.24% |
| 2020-06-30 | $11.52 Billion | +9.49% |
| 2019-06-30 | $10.52 Billion | +14.70% |
| 2018-06-30 | $9.17 Billion | +6.40% |
| 2017-06-30 | $8.62 Billion | +2.73% |
| 2016-06-30 | $8.39 Billion | +13.79% |
| 2015-06-30 | $7.38 Billion | +18.39% |
| 2014-06-30 | $6.23 Billion | +6.76% |
| 2013-06-30 | $5.84 Billion | +12.78% |
| 2012-06-30 | $5.17 Billion | +3.21% |
| 2011-06-30 | $5.01 Billion | +6.19% |
| 2010-06-30 | $4.72 Billion | +24.99% |
| 2009-06-30 | $3.78 Billion | -19.09% |
| 2008-06-30 | $4.67 Billion | +1.99% |
| 2007-06-30 | $4.58 Billion | +15.28% |
| 2006-06-30 | $3.97 Billion | +28.39% |
| 2005-06-30 | $3.09 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Goodman Group'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 3225466.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $9.68 Billion | 41.51% |
| Common Stock | $12.39 Billion | 53.15% |
| Other Comprehensive Income | $1.25 Billion | 5.34% |
| Total Equity | $23.31 Billion | 100.00% |
Goodman Group Competitors by Market Cap
The table below lists competitors of Goodman Group ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rocket Lab USA Inc.
NASDAQ:RKLB
|
$37.37 Billion |
|
Axon Enterprise Inc.
NASDAQ:AXON
|
$37.39 Billion |
|
Infineon Technologies AG
OTCQX:IFNNF
|
$37.45 Billion |
|
Fomento Economico Mexicano
NYSE:FMX
|
$37.66 Billion |
|
Alimentation Couchen Tard Inc A
PINK:ANCTF
|
$37.28 Billion |
|
Kinross Gold Corporation
NYSE:KGC
|
$37.25 Billion |
|
Hartford Financial Services Group
NYSE:HIG
|
$37.13 Billion |
|
The Kroger Co.
SA:K1RC34
|
$37.13 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Goodman Group's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 17,537,900,000 to 23,310,100,000, a change of 5,772,200,000 (32.9%).
- Net income of 1,666,400,000 contributed positively to equity growth.
- Dividend payments of 571,600,000 reduced retained earnings.
- New share issuances of 4,044,600,000 increased equity.
- Other comprehensive income increased equity by 507,700,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.67 Billion | +7.15% |
| Dividends Paid | $571.60 Million | -2.45% |
| Share Issuances | $4.04 Billion | +17.35% |
| Other Comprehensive Income | $507.70 Million | +2.18% |
| Other Changes | $125.10 Million | +0.54% |
| Total Change | $- | 32.91% |
Book Value vs Market Value Analysis
This analysis compares Goodman Group'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: 1.56x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.95x to 1.56x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-06-30 | $19.55 | $18.65 | x |
| 2006-06-30 | $11.91 | $18.65 | x |
| 2007-06-30 | $12.22 | $18.65 | x |
| 2008-06-30 | $11.13 | $18.65 | x |
| 2009-06-30 | $6.36 | $18.65 | x |
| 2010-06-30 | $3.46 | $18.65 | x |
| 2011-06-30 | $3.17 | $18.65 | x |
| 2012-06-30 | $3.13 | $18.65 | x |
| 2013-06-30 | $3.24 | $18.65 | x |
| 2014-06-30 | $3.37 | $18.65 | x |
| 2015-06-30 | $3.85 | $18.65 | x |
| 2016-06-30 | $4.35 | $18.65 | x |
| 2017-06-30 | $4.43 | $18.65 | x |
| 2018-06-30 | $4.94 | $18.65 | x |
| 2019-06-30 | $5.64 | $18.65 | x |
| 2020-06-30 | $6.13 | $18.65 | x |
| 2021-06-30 | $6.95 | $18.65 | x |
| 2022-06-30 | $8.60 | $18.65 | x |
| 2023-06-30 | $9.39 | $18.65 | x |
| 2024-06-30 | $9.25 | $18.65 | x |
| 2025-06-30 | $11.93 | $18.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Goodman Group 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): 7.15%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 75.51%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.35x
- Recent ROE (7.15%) is below the historical average (7.29%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | -0.06% | -0.84% | 0.04x | 1.71x | $-304.09 Million |
| 2006 | 12.66% | 95.42% | 0.08x | 1.71x | $105.09 Million |
| 2007 | 13.67% | 76.33% | 0.09x | 2.01x | $167.05 Million |
| 2008 | 5.77% | 30.44% | 0.09x | 2.22x | $-184.15 Million |
| 2009 | -32.38% | -155.64% | 0.08x | 2.48x | $-1.47 Billion |
| 2010 | -14.34% | -99.07% | 0.07x | 1.94x | $-954.96 Million |
| 2011 | 8.83% | 58.57% | 0.09x | 1.70x | $-52.08 Million |
| 2012 | 8.41% | 60.88% | 0.08x | 1.69x | $-77.28 Million |
| 2013 | 2.93% | 18.72% | 0.10x | 1.62x | $-389.42 Million |
| 2014 | 11.13% | 56.69% | 0.12x | 1.59x | $66.84 Million |
| 2015 | 17.13% | 103.98% | 0.10x | 1.60x | $502.97 Million |
| 2016 | 15.80% | 60.80% | 0.17x | 1.54x | $467.85 Million |
| 2017 | 9.38% | 47.65% | 0.13x | 1.53x | $-51.54 Million |
| 2018 | 11.97% | 44.04% | 0.19x | 1.47x | $180.83 Million |
| 2019 | 15.47% | 57.10% | 0.19x | 1.42x | $575.65 Million |
| 2020 | 13.06% | 100.58% | 0.09x | 1.40x | $352.04 Million |
| 2021 | 17.57% | 123.90% | 0.11x | 1.28x | $995.75 Million |
| 2022 | 20.79% | 166.74% | 0.10x | 1.30x | $1.77 Billion |
| 2023 | 8.65% | 80.38% | 0.08x | 1.33x | $-242.58 Million |
| 2024 | -0.56% | -5.15% | 0.08x | 1.36x | $-1.85 Billion |
| 2025 | 7.15% | 75.51% | 0.07x | 1.35x | $-664.61 Million |
Industry Comparison
This section compares Goodman Group's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $1,958,368,717
- Average return on equity (ROE) among peers: 7.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Goodman Group (GMGSF) | $23.74 Billion | -0.06% | 0.28x | $37.36 Billion |
| American Assets Trust Inc (AAT) | $189.17 Million | -3.71% | 4.13x | $999.59 Million |
| Armada Hflr Pr (AHH) | $-41.34 Million | 0.00% | 0.00x | $432.17 Million |
| Armada Hoffler Properties, Inc. (AHRT-PA) | $829.19 Million | 0.68% | 2.13x | $1.74 Billion |
| Precinct Properties New Zealand Limited (AOTUF) | $618.88 Million | 25.23% | 0.64x | $1.05 Billion |
| Artis REIT (ARESF) | $1.25 Billion | 25.30% | 1.49x | $228.58 Million |
| Ascott Residence Trust (ATTRF) | $4.54 Billion | 7.22% | 0.97x | $1.70 Billion |
| Broadstone Net Lease Inc (BNL) | $998.54 Million | 3.64% | 0.95x | $3.72 Billion |
| British Land Company Plc (BRLAF) | $5.69 Billion | 4.99% | 0.45x | $5.24 Billion |
| Icade SA (CDMGF) | $4.58 Billion | 2.77% | 1.24x | $700.47 Million |
| Charter Hall Long WALE REIT (CHLWF) | $940.37 Million | 8.86% | 0.48x | $1.19 Billion |