Tae Won Mulsan (001420) - Net Assets
Based on the latest financial reports, Tae Won Mulsan (001420) has net assets worth ₩44.18 Billion KRW (≈ $29.94 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩48.09 Billion ≈ $32.59 Million USD) and total liabilities (₩3.90 Billion ≈ $2.65 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. Check Tae Won Mulsan liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩44.18 Billion |
| % of Total Assets | 91.88% |
| Annual Growth Rate | 3.53% |
| 5-Year Change | 43.19% |
| 10-Year Change | 42.55% |
| Growth Volatility | 16.5 |
Tae Won Mulsan - Net Assets Trend (2013–2024)
This chart illustrates how Tae Won Mulsan's net assets have evolved over time, based on quarterly financial data. Also explore Tae Won Mulsan balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Tae Won Mulsan (2013–2024)
The table below shows the annual net assets of Tae Won Mulsan from 2013 to 2024. For live valuation and market cap data, see market cap of Tae Won Mulsan.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩45.28 Billion ≈ $30.68 Million |
+56.34% |
| 2023-12-31 | ₩28.96 Billion ≈ $19.63 Million |
-2.07% |
| 2022-12-31 | ₩29.57 Billion ≈ $20.04 Million |
-5.61% |
| 2021-12-31 | ₩31.33 Billion ≈ $21.23 Million |
-0.91% |
| 2020-12-31 | ₩31.62 Billion ≈ $21.43 Million |
-1.80% |
| 2019-12-31 | ₩32.20 Billion ≈ $21.82 Million |
-0.03% |
| 2018-12-31 | ₩32.21 Billion ≈ $21.83 Million |
-1.16% |
| 2017-12-31 | ₩32.58 Billion ≈ $22.08 Million |
+0.38% |
| 2016-12-31 | ₩32.46 Billion ≈ $22.00 Million |
+2.21% |
| 2015-12-31 | ₩31.76 Billion ≈ $21.52 Million |
+1.22% |
| 2014-12-31 | ₩31.38 Billion ≈ $21.26 Million |
+1.49% |
| 2013-12-31 | ₩30.92 Billion ≈ $20.95 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tae Won Mulsan'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 111.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩27.55 Billion | 60.85% |
| Other Components | ₩17.72 Billion | 39.15% |
| Total Equity | ₩45.28 Billion | 100.00% |
Tae Won Mulsan Competitors by Market Cap
The table below lists competitors of Tae Won Mulsan ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Conneqt Health Limited
AU:CQT
|
$15.17 Million |
|
Envoy Medical Inc.
NASDAQ:COCH
|
$15.17 Million |
|
BEYOND MED TEC. INC. NEW
F:7FM
|
$15.19 Million |
|
MiniLuxe Holding Corp
V:MNLX
|
$15.20 Million |
|
GREAT PORTLAND ESTATES PLC
LSE:GPE
|
$15.16 Million |
|
Physitrack PLC
ST:PTRK
|
$15.15 Million |
|
Tomypak Holdings Bhd
KLSE:7285
|
$15.15 Million |
|
INFLECTION RESOURCES LTD.
F:5VJ
|
$15.15 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tae Won Mulsan's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 28,960,558,390 to 45,275,972,490, a change of 16,315,414,100 (56.3%).
- Net income of 17,468,736,710 contributed positively to equity growth.
- Dividend payments of 1,026,572,050 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩17.47 Billion | +38.58% |
| Dividends Paid | ₩1.03 Billion | -2.27% |
| Other Changes | ₩-126.75 Million | -0.28% |
| Total Change | ₩- | 56.34% |
Book Value vs Market Value Analysis
This analysis compares Tae Won Mulsan'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: 0.49x
- 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 0.69x to 0.49x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ₩4443.54 | ₩3050.00 | x |
| 2018-12-31 | ₩4391.97 | ₩3050.00 | x |
| 2019-12-31 | ₩4390.82 | ₩3050.00 | x |
| 2020-12-31 | ₩4311.82 | ₩3050.00 | x |
| 2021-12-31 | ₩4272.77 | ₩3050.00 | x |
| 2022-12-31 | ₩4032.88 | ₩3050.00 | x |
| 2023-12-31 | ₩3949.29 | ₩3050.00 | x |
| 2024-12-31 | ₩6174.19 | ₩3050.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tae Won Mulsan 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): 38.58%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 150.97%
- • Asset Turnover: 0.22x
- • Equity Multiplier: 1.18x
- Recent ROE (38.58%) is above the historical average (4.56%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 6.36% | 5.17% | 0.90x | 1.37x | ₩-1.12 Billion |
| 2014 | 2.60% | 2.58% | 0.74x | 1.35x | ₩-2.32 Billion |
| 2015 | 2.13% | 2.22% | 0.70x | 1.37x | ₩-2.50 Billion |
| 2016 | 4.41% | 4.50% | 0.71x | 1.38x | ₩-1.82 Billion |
| 2017 | 2.54% | 3.32% | 0.61x | 1.26x | ₩-2.43 Billion |
| 2018 | 1.11% | 1.63% | 0.57x | 1.19x | ₩-2.86 Billion |
| 2019 | 1.67% | 2.46% | 0.57x | 1.19x | ₩-2.68 Billion |
| 2020 | -0.08% | -0.16% | 0.43x | 1.21x | ₩-3.19 Billion |
| 2021 | 0.26% | 0.55% | 0.39x | 1.19x | ₩-3.05 Billion |
| 2022 | -4.60% | -12.42% | 0.31x | 1.18x | ₩-4.32 Billion |
| 2023 | -0.28% | -0.90% | 0.25x | 1.29x | ₩-2.98 Billion |
| 2024 | 38.58% | 150.97% | 0.22x | 1.18x | ₩12.94 Billion |
Industry Comparison
This section compares Tae Won Mulsan's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $624,200,974,951
- Average return on equity (ROE) among peers: 2.42%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tae Won Mulsan (001420) | ₩44.18 Billion | 6.36% | 0.09x | $15.16 Million |
| Hankook Tire Worldwide (000240) | $1.77 Trillion | -1.14% | 2.04x | $1.60 Billion |
| Daewonkangup (000430) | $111.59 Billion | 3.26% | 1.76x | $183.40 Million |
| SG Choongbang Co Ltd (001380) | $26.46 Billion | 0.00% | 8.99x | $33.46 Million |
| Dongkook Ind (001620) | $170.07 Billion | -12.97% | 2.34x | $48.42 Million |
| PS Tec. Co. Ltd (002230) | $42.65 Billion | 9.95% | 0.26x | $112.51 Million |
| Nexen Tire (002350) | $1.60 Trillion | 0.30% | 1.39x | $484.20 Million |
| Nexen Tire Prf 1 (002355) | $1.56 Trillion | 7.59% | 1.21x | $19.07 Million |
| Dayou A-Tech (002880) | $52.20 Billion | 11.76% | 2.72x | $31.63 Million |
| Yoo Sung Ent (002920) | $289.11 Billion | 3.03% | 0.31x | $33.27 Million |
About Tae Won Mulsan
Tae Won Mulsan Co., Ltd. engages in the manufacture and sale of engine water pumps and engine surrounding parts for automobiles. The company provides water pumps for farm machines and automobiles; rod and cable type gear shift cover assemblies; shift blocks and front bearing covers for trucks; brackets for transmission mounts; shackles for alternators; EGR adapters; and ECU housing products. It a… Read more