Link Real Estate Investment Trust
Link Real Estate Investment Trust (Link REIT) is the largest REIT in Asia by many measures including asset value. Managed by Link Asset Management Limited (Link), a leading, independent and fully-integrated real estate investor and manager focusing on the APAC region, Link REIT has been entirely owned by independent investors since its listing in November 2005 as the first REIT in Hong Kong. Afte… Read more
Link Real Estate Investment Trust (LKREF) - Net Assets
Latest net assets as of September 2025: $158.12 Billion USD
Based on the latest financial reports, Link Real Estate Investment Trust (LKREF) has net assets worth $158.12 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 ($225.98 Billion) and total liabilities ($67.86 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 | $158.12 Billion |
| % of Total Assets | 69.97% |
| Annual Growth Rate | 10.69% |
| 5-Year Change | 2.96% |
| 10-Year Change | 28.21% |
| Growth Volatility | 14.9 |
Link Real Estate Investment Trust - Net Assets Trend (2006–2025)
This chart illustrates how Link Real Estate Investment 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 Link Real Estate Investment Trust (2006–2025)
The table below shows the annual net assets of Link Real Estate Investment Trust from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $163.40 Billion | -8.43% |
| 2024-03-31 | $178.44 Billion | -5.62% |
| 2023-03-31 | $189.06 Billion | +15.99% |
| 2022-03-31 | $162.99 Billion | +2.71% |
| 2021-03-31 | $158.69 Billion | -0.89% |
| 2020-03-31 | $160.12 Billion | -15.43% |
| 2019-03-31 | $189.33 Billion | +5.73% |
| 2018-03-31 | $179.07 Billion | +29.29% |
| 2017-03-31 | $138.50 Billion | +8.68% |
| 2016-03-31 | $127.44 Billion | +7.90% |
| 2015-03-31 | $118.11 Billion | +22.58% |
| 2014-03-31 | $96.35 Billion | +18.02% |
| 2013-03-31 | $81.64 Billion | +30.14% |
| 2012-03-31 | $62.73 Billion | +14.12% |
| 2011-03-31 | $54.98 Billion | +43.00% |
| 2010-03-31 | $38.44 Billion | +31.65% |
| 2009-03-31 | $29.20 Billion | -4.44% |
| 2008-03-31 | $30.56 Billion | +14.07% |
| 2007-03-31 | $26.79 Billion | +12.96% |
| 2006-03-31 | $23.71 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Link Real Estate Investment 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 (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $163.47 Billion | 100.00% |
| Total Equity | $163.47 Billion | 100.00% |
Link Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Link Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Carlsberg A/S
PINK:CABJF
|
$11.67 Billion |
|
Hon. Precision, Inc.
TW:7769
|
$11.68 Billion |
|
Centrais Electricas Brasileiras SA
NYSE:EBR
|
$11.68 Billion |
|
Neste Oil Oyj
HE:NESTE
|
$11.70 Billion |
|
The Ensign Group Inc
NASDAQ:ENSG
|
$11.66 Billion |
|
Concordia Financial Group Ltd
OTCGREY:CRDIY
|
$11.65 Billion |
|
Trade Desk Inc
NASDAQ:TTD
|
$11.63 Billion |
|
Sumitomo Electric Industries Ltd
PINK:SMTOF
|
$11.62 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Link Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 178,823,000,000 to 163,470,000,000, a change of -15,353,000,000 (-8.6%).
- Net loss of 8,863,000,000 reduced equity.
- Dividend payments of 5,348,000,000 reduced retained earnings.
- Share repurchases of 574,000,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-8.86 Billion | -5.42% |
| Dividends Paid | $5.35 Billion | -3.27% |
| Share Repurchases | $574.00 Million | -0.35% |
| Other Changes | $-568.00 Million | -0.35% |
| Total Change | $- | -8.59% |
Book Value vs Market Value Analysis
This analysis compares Link Real Estate Investment 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: 0.07x
- 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 0.43x to 0.07x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | $10.52 | $4.51 | x |
| 2007-03-31 | $11.88 | $4.51 | x |
| 2008-03-31 | $13.42 | $4.51 | x |
| 2009-03-31 | $12.80 | $4.51 | x |
| 2010-03-31 | $17.13 | $4.51 | x |
| 2011-03-31 | $24.09 | $4.51 | x |
| 2012-03-31 | $27.10 | $4.51 | x |
| 2013-03-31 | $34.78 | $4.51 | x |
| 2014-03-31 | $41.80 | $4.51 | x |
| 2015-03-31 | $51.27 | $4.51 | x |
| 2016-03-31 | $56.13 | $4.51 | x |
| 2017-03-31 | $61.87 | $4.51 | x |
| 2018-03-31 | $81.12 | $4.51 | x |
| 2019-03-31 | $88.76 | $4.51 | x |
| 2020-03-31 | $74.04 | $4.51 | x |
| 2021-03-31 | $74.63 | $4.51 | x |
| 2022-03-31 | $74.26 | $4.51 | x |
| 2023-03-31 | $84.23 | $4.51 | x |
| 2024-03-31 | $69.82 | $4.51 | x |
| 2025-03-31 | $63.62 | $4.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Link Real Estate Investment 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): -5.42%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -62.31%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.40x
- Recent ROE (-5.42%) is below the historical average (11.99%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 8.78% | 153.69% | 0.03x | 1.72x | $-290.50 Million |
| 2007 | 16.25% | 110.12% | 0.09x | 1.69x | $1.68 Billion |
| 2008 | 16.82% | 122.39% | 0.08x | 1.65x | $2.08 Billion |
| 2009 | 2.13% | 13.81% | 0.09x | 1.67x | $-2.30 Billion |
| 2010 | 26.96% | 207.68% | 0.08x | 1.53x | $6.52 Billion |
| 2011 | 27.79% | 285.45% | 0.08x | 1.25x | $9.78 Billion |
| 2012 | 15.31% | 161.87% | 0.07x | 1.26x | $3.33 Billion |
| 2013 | 25.80% | 323.73% | 0.07x | 1.22x | $12.90 Billion |
| 2014 | 17.96% | 241.86% | 0.06x | 1.18x | $7.67 Billion |
| 2015 | 23.06% | 352.58% | 0.05x | 1.21x | $15.42 Billion |
| 2016 | 12.79% | 186.44% | 0.05x | 1.28x | $3.56 Billion |
| 2017 | 12.81% | 191.37% | 0.05x | 1.27x | $3.89 Billion |
| 2018 | 26.74% | 476.51% | 0.05x | 1.21x | $29.90 Billion |
| 2019 | 10.77% | 202.54% | 0.04x | 1.20x | $1.46 Billion |
| 2020 | -10.72% | -157.07% | 0.05x | 1.30x | $-33.09 Billion |
| 2021 | 0.75% | 10.90% | 0.05x | 1.32x | $-14.69 Billion |
| 2022 | 4.24% | 58.98% | 0.05x | 1.39x | $-9.37 Billion |
| 2023 | 8.18% | 125.21% | 0.05x | 1.42x | $-3.44 Billion |
| 2024 | -1.11% | -14.60% | 0.05x | 1.41x | $-19.87 Billion |
| 2025 | -5.42% | -62.31% | 0.06x | 1.40x | $-25.21 Billion |
Industry Comparison
This section compares Link Real Estate Investment 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 |
|---|---|---|---|---|
| Link Real Estate Investment Trust (LKREF) | $158.12 Billion | 8.78% | 0.43x | $11.66 Billion |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.38 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.66 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 | $517.13 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.98 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 | $698.15 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 |