Southeast Cement Co Ltd
Southeast Cement Co., Ltd., together with its subsidiaries, manufactures and sells cement in Taiwan. The company operates through four segments: Production Department, Lease Department, Construction Department, and Engineering Department. It offers portland cement, water-quenched blast furnace slag powder, cement processed products, ready-mixed concrete, limestone, hearthstone powder, raw materia… Read more
Southeast Cement Co Ltd (1110) - Net Assets
Latest net assets as of September 2025: NT$9.63 Billion TWD
Based on the latest financial reports, Southeast Cement Co Ltd (1110) has net assets worth NT$9.63 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$12.73 Billion) and total liabilities (NT$3.10 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$9.63 Billion |
| % of Total Assets | 75.63% |
| Annual Growth Rate | 1.0% |
| 5-Year Change | 11.9% |
| 10-Year Change | 10.72% |
| Growth Volatility | 2.42 |
Southeast Cement Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Southeast Cement Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Southeast Cement Co Ltd (2002–2024)
The table below shows the annual net assets of Southeast Cement Co Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$9.57 Billion | +5.99% |
| 2023-12-31 | NT$9.03 Billion | +3.42% |
| 2022-12-31 | NT$8.73 Billion | +0.18% |
| 2021-12-31 | NT$8.71 Billion | +1.89% |
| 2020-12-31 | NT$8.55 Billion | -0.26% |
| 2019-12-31 | NT$8.57 Billion | +0.69% |
| 2018-12-31 | NT$8.51 Billion | -0.79% |
| 2017-12-31 | NT$8.58 Billion | -0.71% |
| 2016-12-31 | NT$8.64 Billion | +0.01% |
| 2015-12-31 | NT$8.64 Billion | -2.48% |
| 2014-12-31 | NT$8.86 Billion | +1.66% |
| 2013-12-31 | NT$8.71 Billion | +4.91% |
| 2012-12-31 | NT$8.31 Billion | +1.22% |
| 2011-12-31 | NT$8.21 Billion | -0.14% |
| 2010-12-31 | NT$8.22 Billion | -1.06% |
| 2009-12-31 | NT$8.31 Billion | +3.96% |
| 2008-12-31 | NT$7.99 Billion | -5.09% |
| 2007-12-31 | NT$8.42 Billion | +2.38% |
| 2006-12-31 | NT$8.22 Billion | +0.63% |
| 2005-12-31 | NT$8.17 Billion | +3.37% |
| 2004-12-31 | NT$7.90 Billion | +2.03% |
| 2003-12-31 | NT$7.75 Billion | +0.90% |
| 2002-12-31 | NT$7.68 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southeast Cement 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 43.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$620.44 Million | 6.59% |
| Common Stock | NT$5.72 Billion | 60.75% |
| Other Comprehensive Income | NT$2.90 Billion | 30.79% |
| Other Components | NT$176.71 Million | 1.88% |
| Total Equity | NT$9.42 Billion | 100.00% |
Southeast Cement Co Ltd Competitors by Market Cap
The table below lists competitors of Southeast Cement Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vivozon Healthcare Inc
KQ:082800
|
$139.77 Million |
|
Ningbo Peace Bird Fashion
SHG:603877
|
$139.78 Million |
|
Fennec Pharmaceuticals Inc
NASDAQ:FENC
|
$139.80 Million |
|
Beijing Navigation Control Technology Co. Ltd.
SHG:688282
|
$139.82 Million |
|
Seetel New Energy Co., Ltd.
TW:7740
|
$139.72 Million |
|
ELEDON PHARMACEUT.DL-001
F:2TK
|
$139.71 Million |
|
Fireweed Zinc Ltd
OTCQX:FWEDF
|
$139.60 Million |
|
TVS Srichakra Limited
NSE:TVSSRICHAK
|
$139.59 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southeast Cement Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 8,923,610,000 to 9,415,851,000, a change of 492,241,000 (5.5%).
- Net income of 348,485,000 contributed positively to equity growth.
- Dividend payments of 114,400,000 reduced retained earnings.
- Other comprehensive income increased equity by 279,487,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$348.49 Million | +3.7% |
| Dividends Paid | NT$114.40 Million | -1.21% |
| Other Comprehensive Income | NT$279.49 Million | +2.97% |
| Other Changes | NT$-21.33 Million | -0.23% |
| Total Change | NT$- | 5.52% |
Book Value vs Market Value Analysis
This analysis compares Southeast Cement 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: 0.94x
- 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 1.08x to 0.94x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | NT$14.32 | NT$15.45 | x |
| 2007-12-31 | NT$14.72 | NT$15.45 | x |
| 2008-12-31 | NT$13.99 | NT$15.45 | x |
| 2009-12-31 | NT$14.62 | NT$15.45 | x |
| 2010-12-31 | NT$14.39 | NT$15.45 | x |
| 2011-12-31 | NT$14.29 | NT$15.45 | x |
| 2012-12-31 | NT$14.58 | NT$15.45 | x |
| 2013-12-31 | NT$15.23 | NT$15.45 | x |
| 2014-12-31 | NT$15.49 | NT$15.45 | x |
| 2015-12-31 | NT$15.10 | NT$15.45 | x |
| 2016-12-31 | NT$14.93 | NT$15.45 | x |
| 2017-12-31 | NT$14.99 | NT$15.45 | x |
| 2018-12-31 | NT$14.88 | NT$15.45 | x |
| 2019-12-31 | NT$14.96 | NT$15.45 | x |
| 2020-12-31 | NT$14.90 | NT$15.45 | x |
| 2021-12-31 | NT$15.13 | NT$15.45 | x |
| 2022-12-31 | NT$15.14 | NT$15.45 | x |
| 2023-12-31 | NT$15.65 | NT$15.45 | x |
| 2024-12-31 | NT$16.50 | NT$15.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southeast Cement Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.70%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.13%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 1.35x
- Recent ROE (3.70%) is above the historical average (1.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 4.34% | 20.10% | 0.17x | 1.30x | NT$-434.61 Million |
| 2003 | 4.39% | 20.70% | 0.17x | 1.27x | NT$-434.38 Million |
| 2004 | 3.14% | 12.95% | 0.20x | 1.23x | NT$-542.41 Million |
| 2005 | 3.56% | 13.72% | 0.22x | 1.20x | NT$-525.86 Million |
| 2006 | 0.83% | 3.66% | 0.19x | 1.18x | NT$-753.46 Million |
| 2007 | 3.19% | 14.06% | 0.19x | 1.18x | NT$-572.83 Million |
| 2008 | 0.10% | 0.43% | 0.19x | 1.17x | NT$-790.92 Million |
| 2009 | 1.09% | 5.52% | 0.17x | 1.16x | NT$-739.77 Million |
| 2010 | 0.61% | 3.48% | 0.15x | 1.15x | NT$-771.00 Million |
| 2011 | 0.29% | 1.62% | 0.15x | 1.15x | NT$-793.90 Million |
| 2012 | 0.83% | 4.20% | 0.18x | 1.10x | NT$-762.02 Million |
| 2013 | 1.68% | 7.21% | 0.21x | 1.09x | NT$-722.02 Million |
| 2014 | 1.61% | 6.82% | 0.22x | 1.09x | NT$-740.72 Million |
| 2015 | 1.67% | 7.75% | 0.20x | 1.09x | NT$-716.53 Million |
| 2016 | 1.27% | 7.33% | 0.16x | 1.08x | NT$-742.34 Million |
| 2017 | 0.72% | 3.58% | 0.18x | 1.10x | NT$-792.61 Million |
| 2018 | 0.77% | 3.92% | 0.18x | 1.09x | NT$-782.69 Million |
| 2019 | 0.39% | 2.09% | 0.16x | 1.14x | NT$-819.28 Million |
| 2020 | 0.20% | 1.07% | 0.16x | 1.16x | NT$-832.03 Million |
| 2021 | 1.62% | 7.58% | 0.17x | 1.27x | NT$-722.39 Million |
| 2022 | 1.25% | 6.03% | 0.15x | 1.39x | NT$-755.05 Million |
| 2023 | 1.68% | 6.58% | 0.19x | 1.32x | NT$-742.84 Million |
| 2024 | 3.70% | 12.13% | 0.23x | 1.35x | NT$-593.10 Million |
Industry Comparison
This section compares Southeast Cement Co Ltd's net assets metrics with peer companies in the Building Materials industry.
Industry Context
- Industry: Building Materials
- Average net assets among peers: $13,849,659,889
- Average return on equity (ROE) among peers: 9.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southeast Cement Co Ltd (1110) | NT$9.63 Billion | 4.34% | 0.32x | $139.76 Million |
| Chia Hsin Cement Corp (1103) | $18.60 Billion | 14.70% | 0.85x | $115.31 Million |
| Universal Cement Corp (1104) | $13.38 Billion | 5.32% | 0.19x | $364.13 Million |
| Lucky Cement Co (1108) | $4.80 Billion | 6.57% | 0.61x | $88.91 Million |
| Hsing Ta Cement Co Ltd (1109) | $5.71 Billion | 4.90% | 0.17x | $89.19 Million |
| Taiwan Glass Ind Corp (1802) | $51.66 Billion | -1.36% | 0.80x | $2.52 Billion |
| Goldsun Building Materials Co Ltd (2504) | $25.62 Billion | 13.78% | 0.58x | $902.17 Million |
| Lihtai Construction Enterprise Co Ltd (5520) | $1.80 Billion | 3.42% | 0.25x | $51.69 Million |
| Yonggu Group Inc (5546) | $1.95 Billion | 23.73% | 1.67x | $14.85 Million |
| Wellpool Co Ltd (8424) | $1.12 Billion | 14.88% | 0.19x | $32.89 Million |