Kiwi Property Group Limited
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We have been around for over 30 years and proudly own and manage a significant real estate portfolio comprising some of New Zealand's best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New … Read more
Kiwi Property Group Limited (KWIPF) - Net Assets
Latest net assets as of September 2025: $1.07 Billion USD
Based on the latest financial reports, Kiwi Property Group Limited (KWIPF) has net assets worth $1.07 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.93 Billion) and total liabilities ($865.29 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 | $1.07 Billion |
| % of Total Assets | 55.28% |
| Annual Growth Rate | 6.51% |
| 5-Year Change | -12.88% |
| 10-Year Change | 8.34% |
| Growth Volatility | 30.46 |
Kiwi Property Group Limited - Net Assets Trend (1996–2025)
This chart illustrates how Kiwi Property Group Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Kiwi Property Group Limited (1996–2025)
The table below shows the annual net assets of Kiwi Property Group Limited from 1996 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $1.86 Billion | 0.00% |
| 2024-03-31 | $1.86 Billion | -3.80% |
| 2023-03-31 | $1.93 Billion | -14.88% |
| 2022-03-31 | $2.27 Billion | +6.41% |
| 2021-03-31 | $2.13 Billion | +8.28% |
| 2020-03-31 | $1.97 Billion | -3.87% |
| 2019-03-31 | $2.05 Billion | +2.85% |
| 2018-03-31 | $1.99 Billion | +10.41% |
| 2017-03-31 | $1.81 Billion | +5.20% |
| 2016-03-31 | $1.72 Billion | +24.17% |
| 2015-03-31 | $1.38 Billion | +16.33% |
| 2014-03-31 | $1.19 Billion | +4.99% |
| 2013-03-31 | $1.13 Billion | +5.54% |
| 2012-03-31 | $1.07 Billion | +2.86% |
| 2011-03-31 | $1.04 Billion | +14.78% |
| 2010-03-31 | $908.57 Million | -0.33% |
| 2009-03-31 | $911.54 Million | -19.70% |
| 2008-03-31 | $1.14 Billion | +11.27% |
| 2006-03-31 | $1.02 Billion | +14.33% |
| 2005-03-31 | $892.38 Million | +417.79% |
| 2004-03-31 | $-280.81 Million | -142.17% |
| 2003-03-31 | $665.91 Million | +13.66% |
| 2002-03-31 | $585.87 Million | +0.77% |
| 2001-03-31 | $581.40 Million | +26.99% |
| 2000-03-31 | $457.81 Million | +1.38% |
| 1999-03-31 | $451.58 Million | +1.57% |
| 1998-03-31 | $444.60 Million | +6.98% |
| 1997-03-31 | $415.61 Million | +39.34% |
| 1996-03-31 | $298.27 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Kiwi Property Group Limited'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 14378400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $143.78 Million | 7.73% |
| Common Stock | $1.71 Billion | 92.13% |
| Other Comprehensive Income | $2.63 Million | 0.14% |
| Total Equity | $1.86 Billion | 100.00% |
Kiwi Property Group Limited Competitors by Market Cap
The table below lists competitors of Kiwi Property Group Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PLUXEE NV
PA:PLX
|
$873.75 Million |
|
CVR Energy Inc
NYSE:CVI
|
$874.31 Million |
|
Streamax Technology Co Ltd
SHE:002970
|
$874.67 Million |
|
ARS Pharmaceuticals, Inc
NASDAQ:SPRY
|
$874.81 Million |
|
Kajaria Ceramics Limited
NSE:KAJARIACER
|
$873.14 Million |
|
Cancom SE
OTCGREY:CCCMF
|
$872.98 Million |
|
Zhejiang Weixing Industrial Development Co Ltd
SHE:002003
|
$872.92 Million |
|
EmbedWay Tech(Shanghai)Corp
SHG:603496
|
$872.51 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kiwi Property Group Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,859,962,000 to 1,859,931,000, a change of -31,000 (-0.0%).
- Net income of 56,992,000 contributed positively to equity growth.
- Dividend payments of 58,804,000 reduced retained earnings.
- Other comprehensive income decreased equity by 224,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $56.99 Million | +3.06% |
| Dividends Paid | $58.80 Million | -3.16% |
| Other Comprehensive Income | $-224.00K | -0.01% |
| Other Changes | $2.00 Million | +0.11% |
| Total Change | $- | 0.00% |
Book Value vs Market Value Analysis
This analysis compares Kiwi Property Group Limited'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: 0.46x
- 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 |
|---|---|---|---|
| 1996-03-31 | $1.10 | $0.54 | x |
| 1997-03-31 | $1.14 | $0.54 | x |
| 1998-03-31 | $1.35 | $0.54 | x |
| 1999-03-31 | $1.29 | $0.54 | x |
| 2000-03-31 | $1.73 | $0.54 | x |
| 2001-03-31 | $1.11 | $0.54 | x |
| 2002-03-31 | $1.16 | $0.54 | x |
| 2003-03-31 | $1.12 | $0.54 | x |
| 2004-03-31 | $0.23 | $0.54 | x |
| 2005-03-31 | $1.27 | $0.54 | x |
| 2006-03-31 | $1.43 | $0.54 | x |
| 2008-03-31 | $1.35 | $0.54 | x |
| 2009-03-31 | $1.04 | $0.54 | x |
| 2010-03-31 | $1.13 | $0.54 | x |
| 2011-03-31 | $1.11 | $0.54 | x |
| 2012-03-31 | $1.09 | $0.54 | x |
| 2013-03-31 | $1.13 | $0.54 | x |
| 2014-03-31 | $1.17 | $0.54 | x |
| 2015-03-31 | $1.30 | $0.54 | x |
| 2016-03-31 | $1.37 | $0.54 | x |
| 2017-03-31 | $1.40 | $0.54 | x |
| 2018-03-31 | $1.44 | $0.54 | x |
| 2019-03-31 | $1.44 | $0.54 | x |
| 2020-03-31 | $1.32 | $0.54 | x |
| 2021-03-31 | $1.36 | $0.54 | x |
| 2022-03-31 | $1.45 | $0.54 | x |
| 2023-03-31 | $1.23 | $0.54 | x |
| 2024-03-31 | $1.17 | $0.54 | x |
| 2025-03-31 | $1.16 | $0.54 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kiwi Property Group Limited 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): 3.06%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.96%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.80x
- Recent ROE (3.06%) is below the historical average (3.35%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -6.22% | 0.00% | 0.00x | 1.44x | $-43.32 Million |
| 1997 | -0.41% | 0.00% | 0.00x | 1.53x | $-36.24 Million |
| 1998 | -0.49% | 0.00% | 0.00x | 1.32x | $-46.66 Million |
| 1999 | 7.22% | 0.00% | 0.00x | 1.36x | $-12.44 Million |
| 2000 | 0.04% | 0.00% | 0.00x | 1.31x | $-50.95 Million |
| 2001 | 7.13% | 0.00% | 0.00x | 1.79x | $-14.24 Million |
| 2002 | 7.40% | 0.00% | 0.00x | 1.50x | $-15.23 Million |
| 2003 | 6.72% | 69.06% | 0.07x | 1.37x | $-21.85 Million |
| 2005 | 5.90% | 59.77% | 0.07x | 1.41x | $-36.59 Million |
| 2006 | 7.06% | 81.63% | 0.06x | 1.42x | $-29.96 Million |
| 2008 | 10.83% | 71.44% | 0.08x | 1.84x | $9.46 Million |
| 2009 | -18.53% | -92.57% | 0.10x | 2.10x | $-260.09 Million |
| 2010 | -1.37% | -6.53% | 0.10x | 2.18x | $-103.29 Million |
| 2011 | -2.53% | -13.52% | 0.09x | 2.03x | $-130.69 Million |
| 2012 | 8.32% | 42.87% | 0.10x | 2.01x | $-18.06 Million |
| 2013 | 9.70% | 55.71% | 0.09x | 1.88x | $-3.40 Million |
| 2014 | 8.52% | 47.56% | 0.10x | 1.88x | $-17.55 Million |
| 2015 | 8.33% | 54.57% | 0.09x | 1.66x | $-23.07 Million |
| 2016 | 14.61% | 120.10% | 0.08x | 1.57x | $79.10 Million |
| 2017 | 7.92% | 59.62% | 0.08x | 1.66x | $-37.61 Million |
| 2018 | 6.02% | 47.79% | 0.08x | 1.55x | $-79.31 Million |
| 2019 | 6.73% | 58.11% | 0.07x | 1.58x | $-67.00 Million |
| 2020 | -9.47% | -76.58% | 0.08x | 1.60x | $-383.84 Million |
| 2021 | 9.21% | 83.89% | 0.07x | 1.58x | $-16.95 Million |
| 2022 | 9.87% | 87.65% | 0.07x | 1.58x | $-2.89 Million |
| 2023 | -11.78% | -87.80% | 0.08x | 1.67x | $-421.05 Million |
| 2024 | -0.11% | -0.88% | 0.07x | 1.74x | $-188.12 Million |
| 2025 | 3.06% | 21.96% | 0.08x | 1.80x | $-129.00 Million |
Industry Comparison
This section compares Kiwi Property Group Limited's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $1,431,457,758
- Average return on equity (ROE) among peers: 3.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kiwi Property Group Limited (KWIPF) | $1.07 Billion | -6.22% | 0.81x | $873.40 Million |
| American Assets Trust Inc (AAT) | $189.17 Million | -3.71% | 4.13x | $997.50 Million |
| Armada Hflr Pr (AHH) | $-37.40 Million | 0.00% | 0.00x | $449.55 Million |
| Armada Hoffler Properties, Inc. (AHRT-PA) | $805.18 Million | 1.03% | 2.18x | $1.76 Billion |
| Precinct Properties New Zealand Limited (AOTUF) | $390.30 Million | 1.91% | 0.25x | $1.05 Billion |
| Artis REIT (ARESF) | $4.10 Million | 0.00% | 1.29x | $228.58 Million |
| Ascott Residence Trust (ATTRF) | $3.13 Billion | 4.71% | 0.70x | $1.70 Billion |
| Broadstone Net Lease Inc (BNL) | $1.28 Billion | 4.27% | 1.01x | $3.74 Billion |
| British Land Company Plc (BRLAF) | $4.11 Billion | 3.88% | 1.12x | $5.24 Billion |
| Icade SA (CDMGF) | $1.16 Billion | 6.10% | 1.97x | $700.47 Million |
| Charter Hall Long WALE REIT (CHLWF) | $3.28 Billion | 18.86% | 0.43x | $1.19 Billion |