ABRDN AUSTRALIA EQUITY FUND, INC. (IAF)
The Abrdn Australia Equity Fund Inc. operates as a closed-end equity mutual fund, initially launched and managed by Aberdeen Standard Investments (Asia) Limited. Its current oversight is provided by Aberdeen Standard Investments Australia Limited. The fund's primary objective is to invest in the public equity markets of Australia, allocating capital across companies within diversified sectors. Its investment methodology employs a combination of fundamental analysis with both bottom-up and top-down stock picking. This approach involves a thorough assessment of various elements, including growth potential, competitive advantages in both local and export markets, technological capabilities, research and development initiatives, productivity levels, input costs (such as labor and raw materials), profit margins, return on investment, capital resources, the caliber of management, and prevailing government regulations, all of which contribute to the final portfolio composition. The fund's performance is gauged against the S&P ASX 200 Accumulation Index, and proprietary research also significantly informs its portfolio construction. This fund, established on September 30, 1985, and domiciled in the United States, was formerly recognized as The First Australia Fund, Inc.
Industry: Asset Management
Abrdn Australia Equity Fund Inc
NYSE:IAFFinancial Services · Asset Management
-0.32%$12.51
Mkt Cap$119.88M
Float9.58M
O/S9.58M
Inst Own34.9%
Div Yield11.59%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$14.72M
Net Income$13.34M
Total Assets$150.93M
Free Cash Flow$0
Debt & Equity
Debt 7%
Equity 93%
Total Debt$9.82M
Total Equity$140.7M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:3
Nasdaq bars a compliance period at 1:250
- 1:3Reverse splitOct 23, 20253 shares → 1
Balance Sheet Details
Assets$150.93M
Liabilities$10.23M
Accounts Receivable$872
Accounts Payable$4K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 | 2015-10-31 | 2014-10-31 | 2013-10-31 | 2012-10-31 | 2011-10-31 | 2010-10-31 |
| Revenue | $14.72M | $5.66M | $2.7M | $15.2M | $15.37M | -$1.04M | $19.83M | -$4.7M | $22.24M | $13.34M | -$27.59M | -$4.18M | $11.93M | $20.93M | -$5.51M | $32.46M |
| YoY Growth | 160.4% | 109.3% | -82.2% | -1.1% | -1578.0% | -105.2% | -522.1% | -121.1% | 66.7% | -148.3% | 560.0% | -135.1% | -43.0% | -480.0% | -117.0% | - |
| Cost of Revenue | $485K | $538K | $1.54M | $1.62M | $1.69M | $1.41M | $1.47M | $1.62M | $1.64M | $1.67M | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $14.24M | $34.71M | $1.16M | $13.58M | $13.69M | -$2.46M | $18.36M | -$6.32M | $20.6M | $11.67M | -$27.59M | -$4.18M | $11.93M | $20.93M | -$5.51M | $32.46M |
| Gross Margin | 96.7% | 613.7% | 43.1% | 89.3% | 89.0% | 236.0% | 92.6% | 134.4% | 92.6% | 87.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $5 | -$1 | $3 | $4 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $811K | $630K | $662K | $613K | $648K | $652K | $678K | $763K | $803K | $1.01M | $913K | $1.23M | $1.23M | $1.05M | $1.25M | $1.12M |
| Other | $87K | $68K | $138K | $163K | $141K | $4.65M | $29K | $28K | $30K | $14K | $36K | $28K | $30K | $30K | $26K | $39K |
| Total Operating Expenses | $898K | $698K | $801K | $776K | $789K | $5.3M | $706K | $791K | $832K | $1.03M | $949K | $1.25M | $1.26M | $1.08M | $1.27M | $1.16M |
| Operating Income (EBIT) | $13.34M | $28.72M | $463K | -$11.14M | $37.22M | -$8.57M | $19.13M | -$5.49M | $21.41M | $12.31M | -$28.54M | -$5.43M | $10.67M | $19.85M | -$6.78M | $31.3M |
| Operating Margin | 90.6% | 507.8% | 17.1% | -73.2% | 242.1% | 823.9% | 96.4% | 116.8% | 96.3% | 92.3% | 103.4% | 130.0% | 89.5% | 94.8% | 123.1% | 96.4% |
| Interest Expense | $485K | $538K | $458K | $160K | $77K | $3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $37K | $35K | $77K | $6K | $57 | $39K | $37K | $53K | $41K | $72K | $34K | $83K | $70K | $110K | $140K | $216K |
| Other Income (Expense) | $1.55M | $5.29M | $1.1M | -$17.34M | $6.75M | $6.83M | $0 | $1.62M | $0 | $8.88M | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $13.34M | $34.01M | $1.57M | -$28.47M | $43.96M | -$1.74M | $19.13M | -$5.49M | $21.41M | $12.31M | -$28.54M | -$5.43M | $10.67M | $19.85M | -$6.78M | $31.3M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $0 | $4.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $13.34M | $34.01M | $1.57M | -$28.47M | $43.96M | -$1.74M | $19.13M | -$5.49M | $21.41M | $12.31M | -$28.54M | -$5.43M | $10.67M | $19.85M | -$6.78M | $31.3M |
| Net Income Margin | 90.6% | 601.3% | 58.0% | -187.3% | 286.0% | 166.8% | 96.4% | 116.8% | 96.3% | 92.3% | 103.4% | 130.0% | 89.5% | 94.8% | 123.1% | 96.4% |
| Supplementary Data | ||||||||||||||||
| EPS | 1.42 | 3.75 | 0.18 | -3.54 | 5.52 | -0.23 | 2.52 | -0.72 | 2.82 | 1.65 | -3.75 | -0.75 | 1.41 | 2.64 | -0.90 | 4.86 |
| Diluted EPS | 1.42 | 3.75 | 0.18 | -3.54 | 5.52 | -0.23 | 2.52 | -0.72 | 2.82 | 1.65 | -3.72 | -0.75 | 1.41 | 2.64 | -0.90 | 4.86 |
| Weighted Average OS | 9.23M | 9.04M | 8.69M | 8.04M | 7.97M | 7.71M | 7.58M | 7.58M | 7.58M | 7.46M | 7.62M | 7.24M | 7.52M | 7.52M | 7.52M | 6.43M |
| EBITDA | $13.34M | $28.72M | $463K | -$11.14M | $37.22M | -$8.57M | $16.01M | -$3.06M | $15.39M | $4.1M | $0 | $0 | $0 | $0 | -$6.78M | $31.3M |
| EBITDA Margin | 90.6% | 507.8% | 17.1% | -73.2% | 242.1% | 823.9% | 80.7% | 65.1% | 69.2% | 30.7% | - | - | - | - | 123.1% | 96.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 | 2015-10-31 | 2014-10-31 | 2013-10-31 | 2012-10-31 | 2011-10-31 | 2010-10-31 |
| Assets | ||||||||||||||||
| Current Assets | ||||||||||||||||
| Cash and Cash Equivalents | $562K | $1.46M | $1.64M | $611K | $1.04M | $2.67M | $3.02M | $1.93M | $4.04M | $3K | $882 | $361 | $263 | $457 | $396 | $844 |
| Short-Term Investments | $0 | $653K | $1.04M | $0 | $0 | $147K | $447K | $431K | $1.19M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $562K | $2.11M | $2.68M | $611K | $1.04M | $2.81M | $3.47M | $2.36M | $5.24M | $3K | $882 | $361 | $263 | $457 | $396 | $844 |
| Accounts Receivable | $872 | $2K | $3K | $3K | $3.69M | $5 | $1.92M | $1K | $695 | $40K | $93K | $563K | $52K | $100K | $357K | $349K |
| Inventory | $0 | $0 | $2.68M | $0 | $0 | $0 | $0 | $0 | $1 | $3.14M | -$1.43M | $0 | $0 | -$3.49M | $0 | $0 |
| Other Current Assets | $0 | -$33K | -$2.68M | $0 | $0 | -$2.84M | -$3.51M | $44K | $44K | $85K | $1.43M | $2.25M | $2M | $3.49M | $0 | $0 |
| Total Current Assets | $605K | $2.11M | $1.64M | $724K | $4.89M | $0 | $1.92M | $1K | $695 | $43K | $94K | $563K | $52K | $100K | $357K | $350K |
| Long-Term Assets | ||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $150.03M | $144.85M | $118.2M | $125.75M | $160.42M | $124.18M | $131.47M | $125.42M | $145.44M | $138.56M | $142.19M | $189.33M | $213.33M | $225.23M | $229.46M | $223.16M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $150.32M | $0 | $0 | $0 | -$1.04M | $0 | $0 | -$125.42M | -$145.44M | -$138.56M | -$142.19M | -$189.33M | -$213.33M | -$225.23M | -$229.46M | -$223.16M |
| Total Long-Term Assets | $150.32M | $144.85M | $118.2M | $125.75M | $159.38M | $124.18M | $131.47M | $125.42M | $145.44M | $138.56M | $142.19M | $189.33M | $213.33M | $225.23M | $229.46M | $223.16M |
| Other Assets | $0 | -$620K | $63K | $110K | $154K | $126.87M | $44K | $44K | $44K | $45K | $221K | $221K | $224K | $198K | $153K | $39K |
| Total Assets | $150.93M | $146.35M | $119.9M | $126.2M | $164.27M | $126.87M | $133.44M | $125.46M | $145.48M | $138.64M | $142.5M | $190.11M | $213.6M | $225.53M | $229.97M | $223.55M |
| Liabilities | ||||||||||||||||
| Current Liabilities | ||||||||||||||||
| Accounts Payable | $4K | $18K | $24K | $8K | $2.48M | $401K | $2.02M | $109K | $115K | $110K | $202K | $152K | $165K | $197K | $168K | $205K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | -$157K | $0 | $0 | -$172K | $11K | -$152K | -$130K | -$132K | -$131K | -$353K | -$232K | -$230K | -$197K | -$168K | -$205K |
| Total Current Liabilities | $4K | $18K | $152K | $8K | $2.48M | $556K | $2.02M | $109K | $115K | $110K | $202K | $152K | $165K | $197K | $168K | $205K |
| Long-Term Liabilities | ||||||||||||||||
| Long-Term Debt | $9.82M | $9.82M | $9.5M | $9.59M | $7.51M | $7.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $403K | $200K | $95K | -$9.59M | -$7.51M | -$7.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $10.22M | $10.02M | $9.5M | $8K | $2.48M | $7.02M | $2.28M | $246K | $218K | $231K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $9.82M | $95K | $9.78M | $5.3M | $7.58M | -$2.28M | -$109K | -$115K | -$110K | $435K | $325K | $498K | $296K | $355K | $378K |
| Total Liabilities | $10.23M | $10.04M | $9.74M | $9.79M | $10.27M | $7.58M | $2.02M | $246K | $218K | $231K | $435K | $325K | $498K | $296K | $355K | $378K |
| Stockholders' Equity | ||||||||||||||||
| Preferred Stock | $0 | $0 | $2.11M | $802K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $94K | $271K | $261K | $249K | $239K | $231K | $227K | $227K | $227K | $227K | $229K | $229K | $226K | $226K | $226K | $193K |
| Retained Earnings | $39.05M | $27.7M | -$243K | -$190K | $42.59M | $12.45M | $18.37M | $5.48M | -$1.98M | -$2.87M | -$4.33M | -$1.48M | -$1.09M | $29.27M | $26.58M | $15.98M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$802K | $0 | $0 | $0 | $0 | $25.88M | $11.88M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $101.56M | $108.34M | $110.14M | $116.34M | $111.17M | $106.61M | $112.56M | $119.51M | $147.02M | $141.05M | $146.16M | $191.04M | $213.97M | $195.74M | $202.81M | $207M |
| Total Equity | $140.7M | $136.31M | $110.16M | $116.4M | $154M | $119.29M | $131.16M | $125.22M | $145.26M | $138.41M | $142.07M | $189.78M | $213.1M | $225.23M | $229.62M | $223.17M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $150.93M | $146.35M | $119.9M | $126.2M | $164.27M | $126.87M | $133.17M | $125.46M | $145.48M | $138.64M | $142.5M | $190.11M | $213.6M | $225.53M | $229.97M | $223.55M |
| Supplementary Data | ||||||||||||||||
| Total Debt | $9.82M | $9.82M | $9.5M | $9.59M | $7.51M | $7.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | $9.26M | $8.36M | $7.86M | $8.98M | $6.47M | $4.35M | -$3.02M | -$1.93M | -$4.04M | -$3K | -$882 | -$361 | -$263 | -$457 | -$396 | -$844 |
Cash Flow Statement
| Period | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 | 2015-10-31 | 2014-10-31 | 2013-10-31 | 2012-10-31 |
| Operating Activities | ||||||||||||
| Net Income | $1.57M | -$28.47M | $43.96M | -$1.74M | $19.13M | -$5.49M | $21.41M | $12.31M | -$28.54M | -$5.43M | $10.67M | $19.85M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Non-Cash Items | -$1.57M | $28.47M | -$43.96M | $1.74M | -$19.13M | $5.49M | -$21.41M | -$12.31M | $28.54M | $5.43M | -$10.67M | -$19.85M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investing Activities | ||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $1.02M | -$427K | -$1.63M | -$350K | $1.09M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at Beginning | $611K | $1.04M | $2.67M | $3.02M | $1.93M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $1.64M | $611K | $1.04M | $2.67M | $3.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |