Raffles Education Corporation Limited
Raffles Education Limited, an investment holding company, provides education and related services in the regions of ASEAN, North Asia, South Asia, Australasia, and Europe. It operates through Education, Education Facilities Rental Service, and Real Estate Investment & Development segments. The company offers diploma, undergraduate, and postgraduate programs in design discipline which includes ani… Read more
Raffles Education Corporation Limited (RFLFF) - Net Assets
Latest net assets as of June 2025: $640.56 Million USD
Based on the latest financial reports, Raffles Education Corporation Limited (RFLFF) has net assets worth $640.56 Million USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.02 Billion) and total liabilities ($378.19 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 | $640.56 Million |
| % of Total Assets | 62.88% |
| Annual Growth Rate | 19.76% |
| 5-Year Change | -18.25% |
| 10-Year Change | 3.49% |
| Growth Volatility | 80.42 |
Raffles Education Corporation Limited - Net Assets Trend (2002–2025)
This chart illustrates how Raffles Education Corporation 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 Raffles Education Corporation Limited (2002–2025)
The table below shows the annual net assets of Raffles Education Corporation Limited from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | $640.56 Million | -6.06% |
| 2024-06-30 | $681.86 Million | -2.01% |
| 2023-06-30 | $695.83 Million | -11.39% |
| 2022-06-30 | $785.22 Million | +0.22% |
| 2021-06-30 | $783.52 Million | +14.96% |
| 2020-06-30 | $681.58 Million | -2.08% |
| 2019-06-30 | $696.06 Million | -4.35% |
| 2018-06-30 | $727.73 Million | +17.33% |
| 2017-06-30 | $620.23 Million | +0.21% |
| 2016-06-30 | $618.96 Million | -6.13% |
| 2015-06-30 | $659.38 Million | +9.30% |
| 2014-06-30 | $603.28 Million | 0.00% |
| 2013-06-30 | $603.30 Million | +11.45% |
| 2012-06-30 | $541.33 Million | -10.78% |
| 2011-06-30 | $606.75 Million | +1.44% |
| 2010-06-30 | $598.12 Million | +10.86% |
| 2009-06-30 | $539.53 Million | +41.41% |
| 2008-06-30 | $381.53 Million | +111.27% |
| 2007-06-30 | $180.59 Million | +385.59% |
| 2006-06-30 | $37.19 Million | +45.96% |
| 2005-06-30 | $25.48 Million | +55.47% |
| 2004-06-30 | $16.39 Million | +12.69% |
| 2003-06-30 | $14.54 Million | +43.54% |
| 2002-06-30 | $10.13 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Raffles Education Corporation 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 4866.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $124.25 Million | 22.35% |
| Common Stock | $554.60 Million | 99.78% |
| Total Equity | $555.83 Million | 100.00% |
Raffles Education Corporation Limited Competitors by Market Cap
The table below lists competitors of Raffles Education Corporation Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
360350
KQ:360350
|
$25.58 Million |
|
Power Master II Holdings. Co., Ltd.
TWO:6839
|
$25.59 Million |
|
Aplex Technology
TWO:6570
|
$25.59 Million |
|
Dusk Group Ltd
AU:DSK
|
$25.59 Million |
|
Fairchem Organics Limited
NSE:FAIRCHEMOR
|
$25.58 Million |
|
Seafarer Exploration
PINK:SFRX
|
$25.57 Million |
|
HCB Financial Corp
PINK:HCBN
|
$25.57 Million |
|
Buana Finance Tbk
JK:BBLD
|
$25.56 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Raffles Education Corporation Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 589,979,000 to 555,826,000, a change of -34,153,000 (-5.8%).
- Net income of 7,696,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 41,723,000.
- Other factors decreased equity by 83,572,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $7.70 Million | +1.38% |
| Other Comprehensive Income | $41.72 Million | +7.51% |
| Other Changes | $-83.57 Million | -15.04% |
| Total Change | $- | -5.79% |
Book Value vs Market Value Analysis
This analysis compares Raffles Education Corporation 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: 0.10x
- 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 0.92x to 0.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-06-30 | $0.04 | $0.04 | x |
| 2003-06-30 | $0.05 | $0.04 | x |
| 2004-06-30 | $0.04 | $0.04 | x |
| 2005-06-30 | $0.03 | $0.04 | x |
| 2006-06-30 | $0.04 | $0.04 | x |
| 2007-06-30 | $0.18 | $0.04 | x |
| 2008-06-30 | $0.39 | $0.04 | x |
| 2009-06-30 | $0.48 | $0.04 | x |
| 2010-06-30 | $0.52 | $0.04 | x |
| 2011-06-30 | $0.53 | $0.04 | x |
| 2012-06-30 | $0.47 | $0.04 | x |
| 2013-06-30 | $0.50 | $0.04 | x |
| 2014-06-30 | $0.50 | $0.04 | x |
| 2015-06-30 | $0.51 | $0.04 | x |
| 2016-06-30 | $0.49 | $0.04 | x |
| 2017-06-30 | $0.49 | $0.04 | x |
| 2018-06-30 | $0.53 | $0.04 | x |
| 2019-06-30 | $0.46 | $0.04 | x |
| 2020-06-30 | $0.45 | $0.04 | x |
| 2021-06-30 | $0.49 | $0.04 | x |
| 2022-06-30 | $0.49 | $0.04 | x |
| 2023-06-30 | $0.44 | $0.04 | x |
| 2024-06-30 | $0.43 | $0.04 | x |
| 2025-06-30 | $0.40 | $0.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Raffles Education Corporation 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): 1.38%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.89%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.83x
- Recent ROE (1.38%) is below the historical average (16.83%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 35.86% | 23.29% | 0.95x | 1.62x | $2.60 Million |
| 2003 | 37.86% | 28.51% | 0.92x | 1.45x | $4.05 Million |
| 2004 | 67.05% | 31.04% | 0.89x | 2.42x | $8.53 Million |
| 2005 | 72.00% | 29.08% | 1.20x | 2.06x | $14.88 Million |
| 2006 | 95.86% | 36.29% | 1.19x | 2.22x | $29.27 Million |
| 2007 | 30.61% | 40.91% | 0.41x | 1.83x | $34.17 Million |
| 2008 | 26.51% | 52.01% | 0.21x | 2.46x | $61.55 Million |
| 2009 | 9.85% | 25.31% | 0.19x | 2.02x | $-776.00K |
| 2010 | 9.52% | 27.95% | 0.18x | 1.90x | $-2.63 Million |
| 2011 | 7.46% | 26.60% | 0.14x | 2.02x | $-14.27 Million |
| 2012 | -15.34% | -58.53% | 0.11x | 2.34x | $-126.80 Million |
| 2013 | 4.81% | 20.78% | 0.12x | 1.93x | $-28.77 Million |
| 2014 | 9.82% | 43.47% | 0.11x | 1.99x | $-995.50K |
| 2015 | 3.00% | 14.16% | 0.09x | 2.24x | $-39.62 Million |
| 2016 | 2.99% | 14.25% | 0.09x | 2.25x | $-37.00 Million |
| 2017 | -0.35% | -1.93% | 0.08x | 2.33x | $-54.57 Million |
| 2018 | 1.72% | 11.02% | 0.08x | 2.03x | $-51.49 Million |
| 2019 | 6.33% | 41.09% | 0.08x | 1.96x | $-23.27 Million |
| 2020 | -2.66% | -16.35% | 0.09x | 1.90x | $-78.21 Million |
| 2021 | 2.44% | 16.77% | 0.07x | 2.06x | $-50.75 Million |
| 2022 | 1.42% | 9.12% | 0.08x | 1.90x | $-57.90 Million |
| 2023 | -0.88% | -4.78% | 0.10x | 1.92x | $-65.30 Million |
| 2024 | -3.26% | -17.13% | 0.10x | 1.86x | $-78.26 Million |
| 2025 | 1.38% | 6.89% | 0.11x | 1.83x | $-47.89 Million |
Industry Comparison
This section compares Raffles Education Corporation Limited's net assets metrics with peer companies in the Education & Training Services industry.
Industry Context
- Industry: Education & Training Services
- Average net assets among peers: $1,197,694,821
- Average return on equity (ROE) among peers: -57.58%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Raffles Education Corporation Limited (RFLFF) | $640.56 Million | 35.86% | 0.59x | $25.58 Million |
| ATA Creativity Global (AACG) | $50.32 Million | -242.94% | 0.93x | $25.30 Million |
| Afya Ltd (AFYA) | $3.64 Billion | 10.60% | 1.08x | $112.89 Million |
| Alliance International Education Leasing Holdings Limited (ALCIF) | $2.60 Billion | 14.32% | 0.61x | $519.50 Million |
| Ambow Education Holding Ltd (AMBO) | $1.38 Billion | -77.81% | 1.30x | $6.74 Million |
| American Public Education Inc (APEI) | $349.73 Million | -32.88% | 0.96x | $676.30 Million |
| Argentum 47 Inc (ARGQ) | $-864.76K | 0.00% | 0.00x | $45.77K |
| Asiarim Corporation (ARMC) | $-263.95K | 0.00% | 0.00x | $1.30K |
| Aspen Group Inc (ASPU) | $5.40K | -250.85% | 0.67x | $3.75 Million |
| Adtalem Global Education Inc (ATGE) | $1.54 Billion | 8.70% | 0.30x | $3.32 Billion |
| Bright Scholar Education Holdings Ltd Class A (BEDU) | $2.41 Billion | -4.96% | 1.27x | $57.66 Million |