Alset Inc. AEI
are a diversified holding company principally engaged through our subsidiaries in the development of EHome communities and other real
estate, financial services, digital transformation technologies, biohealth activities and consumer products with operations in the United
States, Singapore, Hong Kong, Australia, Republic of Korea and the People's Republic of China. We manage our three principal businesses
primarily through our 85.8% owned subsidiary, Alset International Limited ("Alset International"), a public company traded
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.5M | $21.1M | $22.1M | $4.5M | $19.8M | $16.2M | $24.3M | — |
| Cost of revenue | $3.2M | $12.8M | $14.6M | $3.7M | $11.3M | $12.1M | $20.0M | — |
| Gross profit | $1.2M | $8.3M | $7.5M | $748.5K | $8.5M | $4.2M | $4.3M | — |
| SG&A | $15.0M | $10.8M | $9.5M | $7.8M | $23.5M | $6.3M | $5.9M | — |
| Total operating expenses | $19.6M | $25.2M | $25.0M | $11.6M | $34.8M | $18.4M | $31.2M | — |
| Operating income | -$15.2M | -$4.1M | -$2.9M | -$7.1M | -$15.0M | -$2.2M | -$6.9M | — |
| Interest expense | $54.5K | $112.1K | $4.0K | $1.9K | $317.3K | $147.6K | $372.9K | — |
| Pre-tax income | -$48.9M | -$4.0M | -$61.2M | -$46.2M | -$118.5M | -$4.7M | -$7.0M | — |
| Income tax | $432.1K | $150.8K | $92.3K | — | $534.0K | $8.5K | $431.4K | — |
| Net income | -$47.4M | -$4.0M | -$58.9M | -$40.5M | -$119.0M | -$5.1M | -$8.1M | — |
| EPS, basic | -2.22 | -0.43 | -6.52 | -6.22 | -73.85 | — | — | — |
| EPS, diluted | -2.22 | -0.43 | -6.52 | -6.22 | -3.69 | -0.38 | -0.52 | — |
| Shares, diluted (wtd. avg.) | $21.4M | $9.2M | $9.0M | $6.5M | $1.4M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $25.2M | $27.2M | $26.9M | $17.8M | $60.8M | $31.7M | $7.3M | $5.5M |
| Receivables | $57.0K | $75.6K | $77.5K | $46.5K | $39.6K | $1.4M | — | — |
| Inventory | $6.2K | $4.9K | $5.6K | $35.0K | $47.3K | $90.1K | $116.7K | — |
| Total current assets | $45.3M | $59.8M | $55.5M | $95.4M | $142.7M | $85.5M | $11.8M | — |
| Property, plant and equipment | — | $594.6K | $742.1K | $1.3M | $263.9K | $85.4K | $80.3K | — |
| Goodwill | — | — | $60.3K | $60.3K | — | — | — | — |
| Total assets | $136.6M | $96.8M | $126.3M | $153.5M | $184.2M | $107.7M | $35.9M | — |
| Accounts payable | $5.0M | $3.6M | $4.4M | $3.0M | $11.3M | $1.7M | $4.0M | — |
| Total current liabilities | $5.9M | $5.5M | $8.1M | $3.2M | $13.5M | $8.9M | $7.0M | — |
| Long-term debt | — | $123.1K | $156.9K | — | — | $636.4K | $0 | — |
| Total liabilities | $6.9M | $6.6M | $9.1M | $4.8M | $13.9M | $9.7M | $13.6M | — |
| Retained earnings | -$299.3M | -$251.9M | -$247.9M | -$188.7M | -$148.2M | -$44.9M | -$40.5M | — |
| Total equity | $121.1M | $81.3M | $96.8M | $148.7M | $170.3M | $98.0M | $23.7M | $29.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.9M | $5.2M | $7.5M | -$31.9M | -$16.7M | $317.6K | $6.0M | — |
| Depreciation and amortisation | $1.2M | $1.2M | $1.2M | $963.1K | $166.5K | $24.3K | $23.1K | — |
| Stock-based compensation | $2.4M | — | — | — | $134.2K | $1.6M | $0 | — |
| Capital expenditure | $175.5K | $102.7K | $29.1K | $599.6K | $227.8K | $21.7K | $3.6K | — |
| Investing cash flow | $2.3M | $17.5M | -$2.1M | -$15.1M | -$56.0M | $1.8M | -$130.6K | — |
| Financing cash flow | $1.1M | -$21.4M | $3.2M | $6.1M | $103.4M | $21.1M | -$4.0M | — |
| Buybacks | — | $21.1M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-014302.
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