Tetragon Financial Group Ltd
Tetragon Financial Group Limited is a close ended feeder fund launched and managed by Tetragon Financial Management LP. The fund invests its entire corpus in Tetragon Financial Group Master Fund Limited. It was formerly known as Tetragon Credit Income Fund Limited. Tetragon Financial Group Limited was formed on June 23, 2005 and is domiciled in the Guernsey, Channel Islands.
Tetragon Financial Group Ltd (TGONF) - Net Assets
Latest net assets as of June 2025: $3.55 Billion USD
Based on the latest financial reports, Tetragon Financial Group Ltd (TGONF) has net assets worth $3.55 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 ($4.15 Billion) and total liabilities ($606.50 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 | $3.55 Billion |
| % of Total Assets | 85.4% |
| Annual Growth Rate | 11.1% |
| 5-Year Change | 28.23% |
| 10-Year Change | 57.06% |
| Growth Volatility | 35.55 |
Tetragon Financial Group Ltd - Net Assets Trend (2006–2024)
This chart illustrates how Tetragon Financial Group Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tetragon Financial Group Ltd (2006–2024)
The table below shows the annual net assets of Tetragon Financial Group Ltd from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $3.17 Billion | +12.30% |
| 2023-12-31 | $2.83 Billion | +2.43% |
| 2022-12-31 | $2.76 Billion | -4.11% |
| 2021-12-31 | $2.88 Billion | +16.26% |
| 2020-12-31 | $2.47 Billion | +3.70% |
| 2019-12-31 | $2.39 Billion | +8.98% |
| 2018-12-31 | $2.19 Billion | +9.77% |
| 2017-12-31 | $1.99 Billion | +2.70% |
| 2016-12-31 | $1.94 Billion | -3.87% |
| 2015-12-31 | $2.02 Billion | +3.11% |
| 2014-12-31 | $1.96 Billion | +6.09% |
| 2013-12-31 | $1.85 Billion | +11.36% |
| 2012-12-31 | $1.66 Billion | +10.60% |
| 2011-12-31 | $1.50 Billion | +31.80% |
| 2010-12-31 | $1.14 Billion | +40.99% |
| 2009-12-31 | $806.85 Million | -29.34% |
| 2008-12-31 | $1.14 Billion | -3.89% |
| 2007-12-31 | $1.19 Billion | +149.12% |
| 2006-12-31 | $476.96 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tetragon Financial Group Ltd'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 9511.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.34 Billion | 73.73% |
| Common Stock | $100.00K | 0.00% |
| Other Comprehensive Income | $833.30 Million | 26.26% |
| Total Equity | $3.17 Billion | 100.00% |
Tetragon Financial Group Ltd Competitors by Market Cap
The table below lists competitors of Tetragon Financial Group Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SLANG WORLDWIDE INC.
F:84SA
|
$131.52K |
|
Look Holdings Inc
MU:LOO
|
$131.60K |
|
NORTH AMERICAN ENER (N5Z.SG)
STU:N5Z
|
$131.74K |
|
Kayne Anderson MLP Investment Closed Fund
NYSE:KYN
|
$131.91K |
|
Speedvalue Ltd
TA:SPDV
|
$131.44K |
|
Nature's Miracle Holding Inc. Warrants
NASDAQ:NMHIW
|
$131.42K |
|
R STAHL N - Dusseldorf Stock Exchang
DU:RSL2
|
$131.41K |
|
CI Global Dividend Private Pool
TO:CGDI
|
$131.40K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tetragon Financial Group Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,825,400,000 to 3,173,000,000, a change of 347,600,000 (12.3%).
- Net income of 352,200,000 contributed positively to equity growth.
- Dividend payments of 21,700,000 reduced retained earnings.
- Share repurchases of 42,600,000 reduced equity.
- Other comprehensive income increased equity by 40,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $352.20 Million | +11.1% |
| Dividends Paid | $21.70 Million | -0.68% |
| Share Repurchases | $42.60 Million | -1.34% |
| Other Comprehensive Income | $40.00 Million | +1.26% |
| Other Changes | $19.70 Million | +0.62% |
| Total Change | $- | 12.30% |
Book Value vs Market Value Analysis
This analysis compares Tetragon Financial Group Ltd'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: 0.41x
- 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 3.57x to 0.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | $4.07 | $14.50 | x |
| 2007-12-31 | $10.32 | $14.50 | x |
| 2008-12-31 | $9.12 | $14.50 | x |
| 2009-12-31 | $6.29 | $14.50 | x |
| 2010-12-31 | $9.14 | $14.50 | x |
| 2011-12-31 | $12.78 | $14.50 | x |
| 2012-12-31 | $16.47 | $14.50 | x |
| 2013-12-31 | $18.32 | $14.50 | x |
| 2014-12-31 | $23.13 | $14.50 | x |
| 2015-12-31 | $20.67 | $14.50 | x |
| 2016-12-31 | $22.30 | $14.50 | x |
| 2017-12-31 | $20.17 | $14.50 | x |
| 2018-12-31 | $21.96 | $14.50 | x |
| 2019-12-31 | $23.67 | $14.50 | x |
| 2020-12-31 | $24.12 | $14.50 | x |
| 2021-12-31 | $28.65 | $14.50 | x |
| 2022-12-31 | $27.48 | $14.50 | x |
| 2023-12-31 | $30.64 | $14.50 | x |
| 2024-12-31 | $35.49 | $14.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tetragon Financial Group Ltd 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): 11.10%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 90.22%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.12x
- Recent ROE (11.10%) is above the historical average (9.10%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 4.99% | 60.72% | 0.08x | 1.03x | $-23.89 Million |
| 2007 | 6.81% | 45.60% | 0.15x | 1.00x | $-37.89 Million |
| 2008 | -4.45% | -26.20% | 0.17x | 1.00x | $-164.99 Million |
| 2009 | -39.05% | -229.73% | 0.16x | 1.04x | $-395.79 Million |
| 2010 | 33.98% | 199.19% | 0.16x | 1.04x | $272.80 Million |
| 2011 | 35.66% | 94.33% | 0.38x | 1.01x | $384.70 Million |
| 2012 | 27.04% | 89.67% | 0.29x | 1.02x | $282.57 Million |
| 2013 | 15.88% | 71.53% | 0.21x | 1.03x | $108.56 Million |
| 2014 | 6.10% | 45.52% | 0.13x | 1.01x | $-76.42 Million |
| 2015 | 9.32% | 86.85% | 0.11x | 1.00x | $-13.72 Million |
| 2016 | 7.13% | 89.47% | 0.08x | 1.02x | $-55.70 Million |
| 2017 | 10.03% | 95.24% | 0.10x | 1.01x | $550.00K |
| 2018 | 11.03% | 100.00% | 0.11x | 1.03x | $22.56 Million |
| 2019 | 12.07% | 95.33% | 0.12x | 1.09x | $49.39 Million |
| 2020 | 6.91% | 88.61% | 0.07x | 1.08x | $-76.34 Million |
| 2021 | 14.54% | 94.68% | 0.14x | 1.07x | $130.52 Million |
| 2022 | -1.16% | 0.00% | -0.01x | 1.08x | $-307.95 Million |
| 2023 | 4.99% | 58.69% | 0.08x | 1.10x | $-141.44 Million |
| 2024 | 11.10% | 90.22% | 0.11x | 1.12x | $34.90 Million |
Industry Comparison
This section compares Tetragon Financial Group Ltd's net assets metrics with peer companies in the same industry.
Industry Context
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tetragon Financial Group Ltd (TGONF) | $3.55 Billion | 4.99% | 0.17x | $131.50K |
| Abcam plc (ABCZF) | $726.90 Million | -1.17% | 0.45x | $5.00 Billion |
| Able View Global Inc. Warrant (ABLVW) | $11.42 Million | 85.41% | 3.81x | $277.93K |
| Above Food Ingredients Inc. Warrants (ABVEW) | $199.86 Million | -2.89% | 0.00x | $6.25 Million |
| Adamas Trust, Inc. (ADAMG) | $2.43 Billion | 7.94% | 1.33x | $2.09 Billion |
| ADS-TEC ENERGY PLC Warrant (ADSEW) | $33.92 Million | -162.39% | 2.67x | $10.06 Million |
| Alliance Entertainment Holding Corporation Warrants (AENTW) | $52.92 Million | 10.13% | 4.23x | $2.29 Million |
| Forafric Global PLC Warrants (AFRIW) | $5.32 Million | -457.58% | 45.29x | $2.67 Million |
| Centurion Acquisition Corp. Warrant (ALFUW) | $282.84 Million | 1.97% | 0.05x | $4.81 Million |
| Alliance Trust PLC (ALITF) | $4.04 Billion | 10.04% | 0.29x | $112.87K |
| Alvotech Warrant (ALVOW) | $-564.42 Million | 0.00% | 0.00x | $35.01 Million |