TTET Union Corp
TTET Union Corporation operates as a soybean crusher in Taiwan, Malaysia, Japan, and internationally. The company engages in the manufacture, sale, processing, and import and export of a range of vegetable oils and fats; and offers soybean, canola, palm olein, deep frying, and sunflower oils; and dehulled high-protein, dehulled full fat, regular, and full fat soybean meals, as well as soybean hul… Read more
TTET Union Corp (1232) - Net Assets
Latest net assets as of September 2025: NT$5.71 Billion TWD
Based on the latest financial reports, TTET Union Corp (1232) has net assets worth NT$5.71 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$8.85 Billion) and total liabilities (NT$3.14 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$5.71 Billion |
| % of Total Assets | 64.47% |
| Annual Growth Rate | 4.53% |
| 5-Year Change | 26.24% |
| 10-Year Change | 58.08% |
| Growth Volatility | 3.67 |
TTET Union Corp - Net Assets Trend (2002–2024)
This chart illustrates how TTET Union Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TTET Union Corp (2002–2024)
The table below shows the annual net assets of TTET Union Corp from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$5.86 Billion | +5.51% |
| 2023-12-31 | NT$5.55 Billion | +5.35% |
| 2022-12-31 | NT$5.27 Billion | +6.32% |
| 2021-12-31 | NT$4.96 Billion | +6.82% |
| 2020-12-31 | NT$4.64 Billion | +12.33% |
| 2019-12-31 | NT$4.13 Billion | +4.80% |
| 2018-12-31 | NT$3.94 Billion | +3.06% |
| 2017-12-31 | NT$3.83 Billion | +0.49% |
| 2016-12-31 | NT$3.81 Billion | +2.71% |
| 2015-12-31 | NT$3.71 Billion | +3.61% |
| 2014-12-31 | NT$3.58 Billion | +12.24% |
| 2013-12-31 | NT$3.19 Billion | +7.90% |
| 2012-12-31 | NT$2.95 Billion | -1.60% |
| 2011-12-31 | NT$3.00 Billion | +0.66% |
| 2010-12-31 | NT$2.98 Billion | +6.31% |
| 2009-12-31 | NT$2.80 Billion | +6.68% |
| 2008-12-31 | NT$2.63 Billion | +1.39% |
| 2007-12-31 | NT$2.59 Billion | +7.05% |
| 2006-12-31 | NT$2.42 Billion | +4.78% |
| 2005-12-31 | NT$2.31 Billion | +5.92% |
| 2004-12-31 | NT$2.18 Billion | -1.11% |
| 2003-12-31 | NT$2.21 Billion | -0.09% |
| 2002-12-31 | NT$2.21 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to TTET Union Corp'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 513.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.23 Billion | 39.19% |
| Common Stock | NT$1.60 Billion | 28.15% |
| Other Comprehensive Income | NT$1.83 Billion | 32.25% |
| Other Components | NT$23.78 Million | 0.42% |
| Total Equity | NT$5.68 Billion | 100.00% |
TTET Union Corp Competitors by Market Cap
The table below lists competitors of TTET Union Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Team17 Group plc
OTCGREY:TSVNF
|
$276.99 Million |
|
Huabao Flavours & Fragrances Co Ltd Class A
SHE:300741
|
$277.09 Million |
|
Bakkavor Group plc
PINK:BKKVF
|
$277.13 Million |
|
Shanghai Shen Lian Biomedical Corp
SHG:688098
|
$277.19 Million |
|
Fiem Industries Limited
NSE:FIEMIND
|
$276.85 Million |
|
Transimex Saigon Corp
VN:TMS
|
$276.80 Million |
|
Jiangsu Changqing Agrochemical Co Ltd
SHE:002391
|
$276.78 Million |
|
Tecsys Inc
PINK:TCYSF
|
$276.55 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TTET Union Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,398,266,000 to 5,683,883,000, a change of 285,617,000 (5.3%).
- Net income of 1,317,417,000 contributed positively to equity growth.
- Dividend payments of 1,055,834,000 reduced retained earnings.
- Other comprehensive income increased equity by 122,414,000.
- Other factors decreased equity by 98,380,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.32 Billion | +23.18% |
| Dividends Paid | NT$1.06 Billion | -18.58% |
| Other Comprehensive Income | NT$122.41 Million | +2.15% |
| Other Changes | NT$-98.38 Million | -1.73% |
| Total Change | NT$- | 5.29% |
Book Value vs Market Value Analysis
This analysis compares TTET Union Corp'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: 4.21x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 11.05x to 4.21x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | NT$13.53 | NT$149.50 | x |
| 2005-12-31 | NT$14.34 | NT$149.50 | x |
| 2006-12-31 | NT$15.03 | NT$149.50 | x |
| 2007-12-31 | NT$16.07 | NT$149.50 | x |
| 2008-12-31 | NT$16.26 | NT$149.50 | x |
| 2009-12-31 | NT$17.36 | NT$149.50 | x |
| 2010-12-31 | NT$18.45 | NT$149.50 | x |
| 2011-12-31 | NT$18.42 | NT$149.50 | x |
| 2012-12-31 | NT$18.24 | NT$149.50 | x |
| 2013-12-31 | NT$19.66 | NT$149.50 | x |
| 2014-12-31 | NT$22.08 | NT$149.50 | x |
| 2015-12-31 | NT$22.84 | NT$149.50 | x |
| 2016-12-31 | NT$23.45 | NT$149.50 | x |
| 2017-12-31 | NT$23.53 | NT$149.50 | x |
| 2018-12-31 | NT$24.21 | NT$149.50 | x |
| 2019-12-31 | NT$25.34 | NT$149.50 | x |
| 2020-12-31 | NT$28.41 | NT$149.50 | x |
| 2021-12-31 | NT$30.32 | NT$149.50 | x |
| 2022-12-31 | NT$32.14 | NT$149.50 | x |
| 2023-12-31 | NT$33.69 | NT$149.50 | x |
| 2024-12-31 | NT$35.47 | NT$149.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TTET Union Corp 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): 23.18%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.97%
- • Asset Turnover: 2.42x
- • Equity Multiplier: 1.61x
- Recent ROE (23.18%) is above the historical average (20.78%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 15.50% | 4.93% | 2.03x | 1.55x | NT$121.50 Million |
| 2003 | 13.54% | 3.29% | 2.17x | 1.90x | NT$78.19 Million |
| 2004 | 10.36% | 2.14% | 2.88x | 1.68x | NT$7.71 Million |
| 2005 | 14.38% | 3.38% | 2.48x | 1.72x | NT$100.61 Million |
| 2006 | 15.90% | 3.57% | 2.69x | 1.66x | NT$141.98 Million |
| 2007 | 19.98% | 3.64% | 3.61x | 1.52x | NT$256.86 Million |
| 2008 | 17.96% | 2.73% | 4.32x | 1.52x | NT$207.74 Million |
| 2009 | 21.16% | 3.74% | 3.96x | 1.43x | NT$310.53 Million |
| 2010 | 22.65% | 3.95% | 4.14x | 1.38x | NT$374.25 Million |
| 2011 | 19.89% | 3.25% | 4.63x | 1.32x | NT$291.92 Million |
| 2012 | 15.34% | 2.35% | 4.30x | 1.52x | NT$155.95 Million |
| 2013 | 22.44% | 3.53% | 4.76x | 1.34x | NT$391.93 Million |
| 2014 | 27.91% | 4.52% | 4.46x | 1.38x | NT$633.69 Million |
| 2015 | 24.89% | 5.13% | 3.66x | 1.33x | NT$545.72 Million |
| 2016 | 23.73% | 5.13% | 3.16x | 1.47x | NT$516.08 Million |
| 2017 | 21.67% | 4.84% | 3.10x | 1.45x | NT$440.10 Million |
| 2018 | 23.37% | 5.35% | 3.10x | 1.41x | NT$518.79 Million |
| 2019 | 24.00% | 5.68% | 2.95x | 1.43x | NT$568.54 Million |
| 2020 | 28.37% | 7.41% | 2.75x | 1.39x | NT$836.43 Million |
| 2021 | 25.56% | 6.06% | 2.92x | 1.44x | NT$755.84 Million |
| 2022 | 23.81% | 4.97% | 3.34x | 1.44x | NT$711.13 Million |
| 2023 | 22.32% | 5.11% | 2.88x | 1.52x | NT$665.02 Million |
| 2024 | 23.18% | 5.97% | 2.42x | 1.61x | NT$749.03 Million |
Industry Comparison
This section compares TTET Union Corp's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $17,559,023,800
- Average return on equity (ROE) among peers: 8.12%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TTET Union Corp (1232) | NT$5.71 Billion | 15.50% | 0.55x | $276.99 Million |
| Wei Chuan Foods Corp (1201) | $5.55 Billion | 12.34% | 1.69x | $125.16 Million |
| Ve Wong Corp (1203) | $6.25 Billion | 7.16% | 0.53x | $76.18 Million |
| Great Wall Enterprise Co Ltd (1210) | $7.57 Billion | 10.72% | 1.28x | $893.11 Million |
| Charoen Pokphand Enterprise Taiwan Co Ltd (1215) | $5.36 Billion | 14.61% | 0.75x | $839.68 Million |
| Uni-President Enterprises Corp (1216) | $130.79 Billion | 9.49% | 1.59x | $10.01 Billion |
| AGV Products Corp (1217) | $6.27 Billion | 0.76% | 1.01x | $116.99 Million |
| Taisun Enterprise Co Ltd (1218) | $3.67 Billion | 6.42% | 1.09x | $108.34 Million |
| Fwusow Industry Co Ltd (1219) | $3.96 Billion | 5.13% | 1.26x | $99.99 Million |
| Tai Roun Products Co Ltd (1220) | $2.53 Billion | 5.26% | 0.26x | $37.61 Million |
| Formosa Oilseed Processing Co Ltd (1225) | $3.65 Billion | 9.29% | 1.12x | $49.69 Million |