Sarfati (SRFT) - Net Assets
Based on the latest financial reports, Sarfati (SRFT) has net assets worth ILA585.42 Million ILA (≈ $1.57 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (ILA1.41 Billion ≈ $3.78 Million USD) and total liabilities (ILA825.02 Million ≈ $2.21 Million USD). 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. Explore SRFT operating cash flow to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ILA585.42 Million |
| % of Total Assets | 41.51% |
| Annual Growth Rate | 13.16% |
| 5-Year Change | 50.05% |
| 10-Year Change | 398.31% |
| Growth Volatility | 20.77 |
Sarfati - Net Assets Trend (2005–2025)
This chart illustrates how Sarfati's net assets have evolved over time, based on quarterly financial data. Explore Sarfati long-term investment intensity to see how much of total assets are deployed in long-term investments.
Annual Net Assets for Sarfati (2005–2025)
The table below shows the annual net assets of Sarfati from 2005 to 2025. For live valuation and market cap data, see market cap of Sarfati.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ILA585.42 Million ≈ $1.57 Million |
+11.59% |
| 2024-12-31 | ILA524.64 Million ≈ $1.41 Million |
+4.63% |
| 2023-12-31 | ILA501.42 Million ≈ $1.34 Million |
+3.70% |
| 2022-12-31 | ILA483.52 Million ≈ $1.30 Million |
+23.93% |
| 2021-12-31 | ILA390.16 Million ≈ $1.05 Million |
+50.98% |
| 2020-12-31 | ILA258.42 Million ≈ $692.82K |
-3.92% |
| 2019-12-31 | ILA268.98 Million ≈ $721.12K |
+1.55% |
| 2018-12-31 | ILA264.86 Million ≈ $710.09K |
+30.70% |
| 2017-12-31 | ILA202.65 Million ≈ $543.30K |
+72.49% |
| 2016-12-31 | ILA117.48 Million ≈ $314.97K |
-6.98% |
| 2015-12-31 | ILA126.30 Million ≈ $338.62K |
+18.97% |
| 2014-12-31 | ILA106.17 Million ≈ $284.63K |
-0.01% |
| 2013-12-31 | ILA106.18 Million ≈ $284.67K |
-4.01% |
| 2012-12-31 | ILA110.61 Million ≈ $296.55K |
+39.18% |
| 2011-12-31 | ILA79.47 Million ≈ $213.07K |
+26.68% |
| 2010-12-31 | ILA62.74 Million ≈ $168.20K |
-5.14% |
| 2009-12-31 | ILA66.14 Million ≈ $177.32K |
-4.27% |
| 2008-12-31 | ILA69.09 Million ≈ $185.24K |
+13.22% |
| 2007-12-31 | ILA61.02 Million ≈ $163.60K |
-0.63% |
| 2006-12-31 | ILA61.41 Million ≈ $164.63K |
+24.41% |
| 2005-12-31 | ILA49.36 Million ≈ $132.33K |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Sarfati'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 39517500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ILA395.18 Million | 67.50% |
| Common Stock | ILA28.98 Million | 4.95% |
| Other Components | ILA161.27 Million | 27.55% |
| Total Equity | ILA585.42 Million | 100.00% |
Sarfati Competitors by Market Cap
The table below lists competitors of Sarfati ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BINEX Co. Ltd
KQ:053030
|
$194.87 Million |
|
J.Jill Inc
NYSE:JILL
|
$194.97 Million |
|
AMIA Co. Ltd.
TW:8438
|
$195.02 Million |
|
Oriental Interest Bhd
KLSE:5827
|
$195.18 Million |
|
Medinice S.A
WAR:ICE
|
$194.50 Million |
|
Green Landscaping Group AB (publ)
ST:GREEN
|
$194.43 Million |
|
United Bankers Oyj
HE:UNITED
|
$194.37 Million |
|
Walchandnagar Industries Limited
NSE:WALCHANNAG
|
$194.24 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sarfati's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 524,642,000 to 585,424,000, a change of 60,782,000 (11.6%).
- Net income of 20,987,000 contributed positively to equity growth.
- Dividend payments of 8,267,000 reduced retained earnings.
- New share issuances of 49,773,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ILA20.99 Million | +3.58% |
| Dividends Paid | ILA8.27 Million | -1.41% |
| Share Issuances | ILA49.77 Million | +8.5% |
| Other Changes | ILA-1.71 Million | -0.29% |
| Total Change | ILA- | 11.59% |
Book Value vs Market Value Analysis
This analysis compares Sarfati'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: 122.96x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 479.81x to 122.96x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | ILA8.16 | ILA3914.00 | x |
| 2013-12-31 | ILA9.04 | ILA3914.00 | x |
| 2014-12-31 | ILA9.04 | ILA3914.00 | x |
| 2015-12-31 | ILA7.24 | ILA3914.00 | x |
| 2016-12-31 | ILA9.99 | ILA3914.00 | x |
| 2017-12-31 | ILA11.61 | ILA3914.00 | x |
| 2018-12-31 | ILA15.21 | ILA3914.00 | x |
| 2019-12-31 | ILA15.45 | ILA3914.00 | x |
| 2020-12-31 | ILA14.85 | ILA3914.00 | x |
| 2021-12-31 | ILA22.43 | ILA3914.00 | x |
| 2022-12-31 | ILA27.79 | ILA3914.00 | x |
| 2023-12-31 | ILA28.82 | ILA3914.00 | x |
| 2024-12-31 | ILA30.16 | ILA3914.00 | x |
| 2025-12-31 | ILA31.83 | ILA3914.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sarfati 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): 3.58%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.13%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 2.41x
- Recent ROE (3.58%) is below the historical average (9.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 15.21% | 10.36% | 0.24x | 6.04x | ILA4.99 Million |
| 2013 | 7.89% | 7.11% | 0.18x | 6.24x | ILA-2.24 Million |
| 2014 | -3.13% | -3.94% | 0.12x | 6.82x | ILA-13.93 Million |
| 2015 | 16.14% | 7.63% | 0.40x | 5.34x | ILA7.76 Million |
| 2016 | -7.35% | -16.56% | 0.06x | 6.89x | ILA-20.38 Million |
| 2017 | 13.57% | 15.34% | 0.20x | 4.45x | ILA7.23 Million |
| 2018 | 7.24% | 11.71% | 0.22x | 2.82x | ILA-7.32 Million |
| 2019 | 5.09% | 10.67% | 0.16x | 3.00x | ILA-13.21 Million |
| 2020 | 1.57% | 2.41% | 0.19x | 3.33x | ILA-21.79 Million |
| 2021 | 35.23% | 24.54% | 0.58x | 2.46x | ILA98.43 Million |
| 2022 | 23.48% | 24.18% | 0.38x | 2.54x | ILA65.18 Million |
| 2023 | 6.59% | 11.13% | 0.22x | 2.64x | ILA-17.07 Million |
| 2024 | 9.82% | 10.69% | 0.35x | 2.63x | ILA-929.20K |
| 2025 | 3.58% | 5.13% | 0.29x | 2.41x | ILA-37.56 Million |
Industry Comparison
This section compares Sarfati's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $1,343,309,600
- Average return on equity (ROE) among peers: 5.63%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sarfati (SRFT) | ILA585.42 Million | 15.21% | 1.41x | $194.71 Million |
| Kvutzat Acro Ltd. (ACRO) | $1.27 Billion | 4.22% | 2.11x | $825.94 Million |
| Africa Israel Residences Ltd (AFRE) | $986.02 Million | 14.30% | 2.75x | $799.89 Million |
| Ashtrom Group Ltd (ASHG) | $5.14 Billion | 3.30% | 3.25x | $2.25 Billion |
| Aura Investments Ltd (AURA) | $91.94 Million | 20.91% | 7.47x | $1.41 Billion |
| Av Gad Holdings Ltd (AVGD) | $70.88 Million | 1.27% | 2.34x | $79.14 Million |
| GavYam Lands Corp Ltd (GVYM) | $1.96 Billion | 6.53% | 1.14x | $2.39 Billion |
| Hagag Europe Development ZF Ltd (HGGE) | $59.68 Million | -9.56% | 1.46x | $262.98 Million |
| Hanan Mor (HNMR) | $210.12 Million | 10.24% | 4.96x | $15.00 Million |
| Hiron-Trade Investments & Industrial Buildings Ltd (HRON) | $596.64 Million | 6.93% | 0.35x | $313.18 Million |
| Israel Canada (ISCN) | $3.06 Billion | -1.82% | 1.81x | $1.95 Billion |
About Sarfati
Zvi Sarfati & Sons Investments & Constructions Ltd., through its subsidiaries, constructs and sells residential projects, apartments, and commercial spaces and offices in Israel. It is also involved in acquisition of land; project planning; and execution; and sale of urban renewal projects. The company was incorporated in 1992 and is based in Rishon LeZion, Israel.