RoadMain T Co Ltd (603860) - Net Assets
Based on the latest financial reports, RoadMain T Co Ltd (603860) has net assets worth CN¥843.59 Million CNY (≈ $123.44 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥992.99 Million ≈ $145.31 Million USD) and total liabilities (CN¥149.40 Million ≈ $21.86 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 how tangible is RoadMain T Co Ltd's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥843.59 Million |
| % of Total Assets | 84.95% |
| Annual Growth Rate | 17.28% |
| 5-Year Change | 22.59% |
| 10-Year Change | 191.99% |
| Growth Volatility | 23.58 |
RoadMain T Co Ltd - Net Assets Trend (2011–2025)
This chart illustrates how RoadMain T Co Ltd's net assets have evolved over time, based on quarterly financial data. See 603860 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for RoadMain T Co Ltd (2011–2025)
The table below shows the annual net assets of RoadMain T Co Ltd from 2011 to 2025. For live valuation and market cap data, see RoadMain T Co Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥858.96 Million ≈ $125.69 Million |
+6.12% |
| 2024-12-31 | CN¥809.40 Million ≈ $118.44 Million |
+4.53% |
| 2023-12-31 | CN¥774.33 Million ≈ $113.31 Million |
+6.02% |
| 2022-12-31 | CN¥730.36 Million ≈ $106.87 Million |
+4.23% |
| 2021-12-31 | CN¥700.70 Million ≈ $102.53 Million |
+4.38% |
| 2020-12-31 | CN¥671.29 Million ≈ $98.23 Million |
+3.67% |
| 2019-12-31 | CN¥647.55 Million ≈ $94.76 Million |
+7.36% |
| 2018-12-31 | CN¥603.17 Million ≈ $88.26 Million |
+6.83% |
| 2017-12-31 | CN¥564.60 Million ≈ $82.62 Million |
+91.93% |
| 2016-12-31 | CN¥294.17 Million ≈ $43.05 Million |
+13.81% |
| 2015-12-31 | CN¥258.47 Million ≈ $37.82 Million |
+16.31% |
| 2014-12-31 | CN¥222.22 Million ≈ $32.52 Million |
+25.48% |
| 2013-12-31 | CN¥177.10 Million ≈ $25.92 Million |
+31.42% |
| 2012-12-31 | CN¥134.76 Million ≈ $19.72 Million |
+46.24% |
| 2011-12-31 | CN¥92.15 Million ≈ $13.48 Million |
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Equity Component Analysis
This analysis shows how different components contribute to RoadMain T Co 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 2560.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥517.16 Million | 61.56% |
| Common Stock | CN¥66.68 Million | 7.94% |
| Other Comprehensive Income | CN¥35.50 Million | 4.23% |
| Other Components | CN¥220.71 Million | 26.27% |
| Total Equity | CN¥840.05 Million | 100.00% |
RoadMain T Co Ltd Competitors by Market Cap
The table below lists competitors of RoadMain T Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Northern Ocean Ltd
OL:NOL
|
$252.70 Million |
|
Mayfield Group Holdings Ltd
AU:MYG
|
$252.75 Million |
|
First National Corp
NASDAQ:FXNC
|
$252.79 Million |
|
EUWAX Aktiengesellschaft
F:EUX
|
$252.86 Million |
|
Mount Gibson Iron Limited
F:FWQ
|
$252.61 Million |
|
Mangalam Cement Limited
NSE:MANGLMCEM
|
$252.40 Million |
|
Silver Bow Mining Corp.
NYSE MKT:SBMT
|
$252.38 Million |
|
Master Tec Group Berhad
KLSE:0295
|
$252.25 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RoadMain T Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 805,610,362 to 840,053,564, a change of 34,443,202 (4.3%).
- Net income of 45,598,765 contributed positively to equity growth.
- Dividend payments of 11,155,564 reduced retained earnings.
- Other comprehensive income increased equity by 35,500,180.
- Other factors decreased equity by 35,500,179.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥45.60 Million | +5.43% |
| Dividends Paid | CN¥11.16 Million | -1.33% |
| Other Comprehensive Income | CN¥35.50 Million | +4.23% |
| Other Changes | CN¥-35.50 Million | -4.23% |
| Total Change | CN¥- | 4.28% |
Book Value vs Market Value Analysis
This analysis compares RoadMain T Co 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: 2.06x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 14.06x to 2.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | CN¥1.84 | CN¥25.89 | x |
| 2012-12-31 | CN¥2.71 | CN¥25.89 | x |
| 2013-12-31 | CN¥3.56 | CN¥25.89 | x |
| 2014-12-31 | CN¥4.33 | CN¥25.89 | x |
| 2015-12-31 | CN¥5.08 | CN¥25.89 | x |
| 2016-12-31 | CN¥5.80 | CN¥25.89 | x |
| 2017-12-31 | CN¥9.77 | CN¥25.89 | x |
| 2018-12-31 | CN¥8.99 | CN¥25.89 | x |
| 2019-12-31 | CN¥9.67 | CN¥25.89 | x |
| 2020-12-31 | CN¥10.06 | CN¥25.89 | x |
| 2021-12-31 | CN¥10.49 | CN¥25.89 | x |
| 2022-12-31 | CN¥10.96 | CN¥25.89 | x |
| 2023-12-31 | CN¥11.50 | CN¥25.89 | x |
| 2024-12-31 | CN¥12.10 | CN¥25.89 | x |
| 2025-12-31 | CN¥12.60 | CN¥25.89 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RoadMain T Co 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): 5.43%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.68%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 1.21x
- Recent ROE (5.43%) is below the historical average (15.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | 51.06% | 48.48% | 0.87x | 1.21x | CN¥37.83 Million |
| 2012 | 36.22% | 46.32% | 0.56x | 1.39x | CN¥35.33 Million |
| 2013 | 29.25% | 43.66% | 0.36x | 1.84x | CN¥34.10 Million |
| 2014 | 22.64% | 34.93% | 0.39x | 1.67x | CN¥27.40 Million |
| 2015 | 18.52% | 30.85% | 0.39x | 1.53x | CN¥21.66 Million |
| 2016 | 18.62% | 31.40% | 0.42x | 1.42x | CN¥24.96 Million |
| 2017 | 8.39% | 24.39% | 0.28x | 1.24x | CN¥-9.01 Million |
| 2018 | 8.01% | 22.92% | 0.30x | 1.18x | CN¥-11.92 Million |
| 2019 | 8.59% | 25.38% | 0.29x | 1.18x | CN¥-9.05 Million |
| 2020 | 5.27% | 19.50% | 0.23x | 1.19x | CN¥-31.44 Million |
| 2021 | 5.43% | 18.59% | 0.25x | 1.17x | CN¥-31.77 Million |
| 2022 | 5.29% | 17.11% | 0.26x | 1.20x | CN¥-34.20 Million |
| 2023 | 6.69% | 19.79% | 0.29x | 1.18x | CN¥-25.46 Million |
| 2024 | 5.54% | 17.16% | 0.27x | 1.18x | CN¥-35.94 Million |
| 2025 | 5.43% | 16.68% | 0.27x | 1.21x | CN¥-38.41 Million |
Industry Comparison
This section compares RoadMain T Co Ltd's net assets metrics with peer companies in the Infrastructure Operations industry.
Industry Context
- Industry: Infrastructure Operations
- Average net assets among peers: $10,241,060,465
- Average return on equity (ROE) among peers: 9.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RoadMain T Co Ltd (603860) | CN¥843.59 Million | 51.06% | 0.18x | $252.62 Million |
| Guangdong Provincial Expressway Development Co Ltd (000429) | $5.05 Billion | 2.53% | 1.51x | $3.41 Billion |
| Shanxi Sanwei Group Co Ltd (000755) | $1.22 Billion | 12.33% | 6.04x | $996.27 Million |
| Dongguan Development Holdings Co Ltd (000828) | $2.27 Billion | 4.84% | 0.23x | $1.48 Billion |
| City Development Environment Co Ltd (000885) | $7.42 Billion | 14.24% | 2.44x | $1.19 Billion |
| Xiandai Investment Co Ltd (000900) | $5.60 Billion | 11.57% | 1.10x | $801.80 Million |
| Merchant Express Class A (001965) | $63.32 Billion | 7.85% | 0.55x | $9.74 Billion |
| Shandong Sunway Petrochemical Engineering Co Ltd (002469) | $753.39 Million | 9.12% | 0.22x | $650.40 Million |
| Xinjiang Communications Construction Group Co Ltd Class A (002941) | $188.53 Million | 9.86% | 6.32x | $1.16 Billion |
| Guangdong Provincial Expressway Development Co Ltd (200429) | $11.37 Billion | 11.23% | 0.78x | $436.73 Million |
| Anhui Expressway Co Ltd (600012) | $5.22 Billion | 13.26% | 0.65x | $2.77 Billion |
About RoadMain T Co Ltd
RoadMainT Co.,Ltd. engages in the research and development, promotion, and application of highway maintenance technology in China. The company provides CRMS highway asset management system and analysis platform; and iroad highway full asset mobile information platform. It also offers national and provincial trunk lines; city, rural, and foreign roads; and inspection and specialized equipment. In … Read more