Rural Funds Group
Rural Funds Group is an agricultural Real Estate Investment Trust (REIT) listed on the ASX under the code RFF. RFF owns a diversified portfolio of Australian agricultural assets which are leased predominantly to corporate agricultural operators. RFF targets distribution growth of 4% per annum by owning and improving farms that are leased to good counterparties. RFF is a stapled security, incorpor… Read more
Rural Funds Group (RFNDF) - Net Assets
Latest net assets as of June 2025: $1.05 Billion USD
Based on the latest financial reports, Rural Funds Group (RFNDF) has net assets worth $1.05 Billion USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.91 Billion) and total liabilities ($862.84 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 | $1.05 Billion |
| % of Total Assets | 54.87% |
| Annual Growth Rate | 19.68% |
| 5-Year Change | 61.73% |
| 10-Year Change | 404.6% |
| Growth Volatility | 20.62 |
Rural Funds Group - Net Assets Trend (2013–2025)
This chart illustrates how Rural Funds 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 Rural Funds Group (2013–2025)
The table below shows the annual net assets of Rural Funds Group from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | $1.05 Billion | -2.09% |
| 2024-06-30 | $1.07 Billion | +7.87% |
| 2023-06-30 | $993.16 Million | +8.30% |
| 2022-06-30 | $917.01 Million | +41.40% |
| 2021-06-30 | $648.54 Million | +16.23% |
| 2020-06-30 | $557.97 Million | +6.10% |
| 2019-06-30 | $525.87 Million | +38.85% |
| 2018-06-30 | $378.74 Million | +5.89% |
| 2017-06-30 | $357.68 Million | +72.07% |
| 2016-06-30 | $207.86 Million | +36.81% |
| 2015-06-30 | $151.94 Million | +10.53% |
| 2014-06-30 | $137.47 Million | +13.20% |
| 2013-06-30 | $121.44 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Rural Funds 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 6272.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $550.90 Million | 51.92% |
| Common Stock | $409.01 Million | 38.55% |
| Other Comprehensive Income | $101.20 Million | 9.54% |
| Total Equity | $1.06 Billion | 100.00% |
Rural Funds Group Competitors by Market Cap
The table below lists competitors of Rural Funds Group ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Huishang Bank Corporation Limited
PINK:HHSSF
|
$378.50 Million |
|
Ontex Group NV
PINK:ONXXF
|
$378.52 Million |
|
mixi Inc
F:MXN
|
$378.57 Million |
|
Hamborner REIT AG
XETRA:HABA
|
$378.57 Million |
|
Emergent Biosolutions Inc
NYSE:EBS
|
$378.44 Million |
|
Havas N.V.
F:JP71
|
$378.42 Million |
|
AB S.A. ZY 1
F:8B6
|
$378.38 Million |
|
Anhui Ronds Science & Technology Inc Co
SHG:688768
|
$378.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Rural Funds Group's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,078,212,000 to 1,061,104,000, a change of -17,108,000 (-1.6%).
- Net income of 31,456,000 contributed positively to equity growth.
- Dividend payments of 45,569,000 reduced retained earnings.
- New share issuances of 2,940,000 increased equity.
- Other comprehensive income decreased equity by 5,778,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $31.46 Million | +2.96% |
| Dividends Paid | $45.57 Million | -4.29% |
| Share Issuances | $2.94 Million | +0.28% |
| Other Comprehensive Income | $-5.78 Million | -0.54% |
| Other Changes | $-157.00K | -0.01% |
| Total Change | $- | -1.59% |
Book Value vs Market Value Analysis
This analysis compares Rural Funds 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: 0.37x
- 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 |
|---|---|---|---|
| 2013-06-30 | $3.72 | $1.00 | x |
| 2014-06-30 | $1.78 | $1.00 | x |
| 2015-06-30 | $1.24 | $1.00 | x |
| 2016-06-30 | $1.33 | $1.00 | x |
| 2017-06-30 | $1.73 | $1.00 | x |
| 2018-06-30 | $1.47 | $1.00 | x |
| 2019-06-30 | $1.55 | $1.00 | x |
| 2020-06-30 | $1.65 | $1.00 | x |
| 2021-06-30 | $1.90 | $1.00 | x |
| 2022-06-30 | $2.42 | $1.00 | x |
| 2023-06-30 | $2.59 | $1.00 | x |
| 2024-06-30 | $2.79 | $1.00 | x |
| 2025-06-30 | $2.72 | $1.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Rural Funds 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): 2.96%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.64%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.80x
- Recent ROE (2.96%) is below the historical average (9.75%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 7.12% | 104.31% | 0.03x | 1.99x | $-3.50 Million |
| 2014 | 14.64% | 116.19% | 0.07x | 1.75x | $6.38 Million |
| 2015 | 6.74% | 45.30% | 0.09x | 1.68x | $-4.90 Million |
| 2016 | -0.23% | -1.81% | 0.07x | 1.84x | $-21.08 Million |
| 2017 | 12.23% | 100.88% | 0.08x | 1.53x | $7.89 Million |
| 2018 | 9.62% | 68.93% | 0.08x | 1.80x | $-1.43 Million |
| 2019 | 6.42% | 57.30% | 0.07x | 1.67x | $-18.57 Million |
| 2020 | 8.78% | 68.90% | 0.08x | 1.65x | $-6.81 Million |
| 2021 | 18.45% | 168.56% | 0.07x | 1.61x | $54.78 Million |
| 2022 | 22.81% | 245.20% | 0.06x | 1.53x | $117.43 Million |
| 2023 | 9.51% | 96.32% | 0.06x | 1.69x | $-4.82 Million |
| 2024 | 7.72% | 87.57% | 0.05x | 1.76x | $-24.57 Million |
| 2025 | 2.96% | 27.64% | 0.06x | 1.80x | $-74.65 Million |
Industry Comparison
This section compares Rural Funds Group's net assets metrics with peer companies in the REIT - Specialty industry.
Industry Context
- Industry: REIT - Specialty
- Average net assets among peers: $2,464,316,437
- Average return on equity (ROE) among peers: 25.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Rural Funds Group (RFNDF) | $1.05 Billion | 7.12% | 0.82x | $378.49 Million |
| American Tower Corp (AMT) | $3.68 Billion | 17.30% | 2.82x | $86.39 Billion |
| Automotive Properties Real Estate Investment Trust (APPTF) | $663.40 Million | 10.85% | 0.79x | $198.09 Million |
| Crown Castle (CCI) | $11.57 Billion | 5.38% | 1.83x | $36.18 Billion |
| DIGITAL CORE REIT (DGTCF) | $1.28 Billion | 16.05% | 0.57x | $460.68 Million |
| Digital Realty Trust Inc (DLR) | $1.56 Billion | 4.33% | 1.10x | $55.29 Billion |
| EPR Properties (EPR) | $1.47 Billion | 0.55% | 0.83x | $4.20 Billion |
| Equinix Inc (EQIX) | $2.75 Billion | 6.84% | 2.77x | $92.84 Billion |
| Charter Hall Social Infrastructure REIT (FKKEF) | $1.43 Billion | 4.96% | 0.49x | $693.51 Million |
| Farmland Partners Inc (FPI) | $333.37K | 175.89% | 109.73x | $467.58 Million |
| Gaming & Leisure Properties (GLPI) | $236.33 Million | 9.70% | 0.13x | $12.88 Billion |