TTET Union Corp (1232) - Net Assets
Based on the latest financial reports, TTET Union Corp (1232) has net assets worth NT$5.74 Billion TWD (≈ $180.88 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$10.72 Billion ≈ $337.60 Million USD) and total liabilities (NT$4.97 Billion ≈ $156.72 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 TTET Union Corp strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$5.74 Billion |
| % of Total Assets | 53.58% |
| Annual Growth Rate | 4.53% |
| 5-Year Change | 23.5% |
| 10-Year Change | 60.84% |
| Growth Volatility | 3.59 |
TTET Union Corp - Net Assets Trend (2002–2025)
This chart illustrates how TTET Union Corp's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of TTET Union Corp.
Annual Net Assets for TTET Union Corp (2002–2025)
The table below shows the annual net assets of TTET Union Corp from 2002 to 2025. Also explore net asset momentum of TTET Union Corp to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$6.12 Billion ≈ $192.89 Million |
+4.50% |
| 2024-12-31 | NT$5.86 Billion ≈ $184.58 Million |
+5.51% |
| 2023-12-31 | NT$5.55 Billion ≈ $174.95 Million |
+5.35% |
| 2022-12-31 | NT$5.27 Billion ≈ $166.07 Million |
+6.32% |
| 2021-12-31 | NT$4.96 Billion ≈ $156.19 Million |
+6.82% |
| 2020-12-31 | NT$4.64 Billion ≈ $146.22 Million |
+12.33% |
| 2019-12-31 | NT$4.13 Billion ≈ $130.16 Million |
+4.80% |
| 2018-12-31 | NT$3.94 Billion ≈ $124.20 Million |
+3.06% |
| 2017-12-31 | NT$3.83 Billion ≈ $120.52 Million |
+0.49% |
| 2016-12-31 | NT$3.81 Billion ≈ $119.93 Million |
+2.71% |
| 2015-12-31 | NT$3.71 Billion ≈ $116.76 Million |
+3.61% |
| 2014-12-31 | NT$3.58 Billion ≈ $112.69 Million |
+12.24% |
| 2013-12-31 | NT$3.19 Billion ≈ $100.40 Million |
+7.90% |
| 2012-12-31 | NT$2.95 Billion ≈ $93.06 Million |
-1.60% |
| 2011-12-31 | NT$3.00 Billion ≈ $94.57 Million |
+0.66% |
| 2010-12-31 | NT$2.98 Billion ≈ $93.95 Million |
+6.31% |
| 2009-12-31 | NT$2.80 Billion ≈ $88.37 Million |
+6.68% |
| 2008-12-31 | NT$2.63 Billion ≈ $82.84 Million |
+1.39% |
| 2007-12-31 | NT$2.59 Billion ≈ $81.70 Million |
+7.05% |
| 2006-12-31 | NT$2.42 Billion ≈ $76.32 Million |
+4.78% |
| 2005-12-31 | NT$2.31 Billion ≈ $72.84 Million |
+5.92% |
| 2004-12-31 | NT$2.18 Billion ≈ $68.77 Million |
-1.11% |
| 2003-12-31 | NT$2.21 Billion ≈ $69.54 Million |
-0.09% |
| 2002-12-31 | NT$2.21 Billion ≈ $69.60 Million |
-- |
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 539.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.32 Billion | 39.32% |
| Common Stock | NT$1.60 Billion | 27.10% |
| Other Comprehensive Income | NT$1.96 Billion | 33.18% |
| Other Components | NT$23.78 Million | 0.40% |
| Total Equity | NT$5.90 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 |
|---|---|
|
Sapphire Foods India Limited
NSE:SAPPHIRE
|
$776.18 Million |
|
Sirio Pharma
SHE:300791
|
$776.19 Million |
|
Henan Ancai Hi-tech Co Ltd
SHG:600207
|
$776.28 Million |
|
Worldline SA
PA:WLN
|
$776.54 Million |
|
Invengo Information Technology Co Ltd
SHE:002161
|
$776.15 Million |
|
CTO Realty Growth Inc
NYSE:CTO
|
$775.95 Million |
|
Metro Healthcare Indonesia
JK:CARE
|
$775.43 Million |
|
MBK Public Company Limited
BK:MBK-R
|
$775.40 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 2024 to 2025, total equity changed from 5,683,883,000 to 5,903,946,000, a change of 220,063,000 (3.9%).
- Net income of 1,320,490,000 contributed positively to equity growth.
- Dividend payments of 1,119,824,000 reduced retained earnings.
- Other comprehensive income increased equity by 125,940,000.
- Other factors decreased equity by 106,543,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.32 Billion | +22.37% |
| Dividends Paid | NT$1.12 Billion | -18.97% |
| Other Comprehensive Income | NT$125.94 Million | +2.13% |
| Other Changes | NT$-106.54 Million | -1.8% |
| Total Change | NT$- | 3.87% |
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: 4.37x
- 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 11.39x to 4.37x 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$154.00 | x |
| 2005-12-31 | NT$14.34 | NT$154.00 | x |
| 2006-12-31 | NT$15.03 | NT$154.00 | x |
| 2007-12-31 | NT$16.07 | NT$154.00 | x |
| 2008-12-31 | NT$16.26 | NT$154.00 | x |
| 2009-12-31 | NT$17.36 | NT$154.00 | x |
| 2010-12-31 | NT$18.45 | NT$154.00 | x |
| 2011-12-31 | NT$18.42 | NT$154.00 | x |
| 2012-12-31 | NT$18.24 | NT$154.00 | x |
| 2013-12-31 | NT$19.66 | NT$154.00 | x |
| 2014-12-31 | NT$22.08 | NT$154.00 | x |
| 2015-12-31 | NT$22.84 | NT$154.00 | x |
| 2016-12-31 | NT$23.45 | NT$154.00 | x |
| 2017-12-31 | NT$23.53 | NT$154.00 | x |
| 2018-12-31 | NT$24.21 | NT$154.00 | x |
| 2019-12-31 | NT$25.34 | NT$154.00 | x |
| 2020-12-31 | NT$28.41 | NT$154.00 | x |
| 2021-12-31 | NT$30.32 | NT$154.00 | x |
| 2022-12-31 | NT$32.14 | NT$154.00 | x |
| 2023-12-31 | NT$33.69 | NT$154.00 | x |
| 2024-12-31 | NT$35.47 | NT$154.00 | x |
| 2025-12-31 | NT$35.25 | NT$154.00 | 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): 22.37%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.14%
- • Asset Turnover: 2.16x
- • Equity Multiplier: 1.69x
- Recent ROE (22.37%) is above the historical average (20.85%), 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 |
| 2025 | 22.37% | 6.14% | 2.16x | 1.69x | NT$730.10 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: $23,120,322,100
- Average return on equity (ROE) among peers: 6.82%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TTET Union Corp (1232) | NT$5.74 Billion | 15.50% | 0.87x | $776.17 Million |
| Wei Chuan Foods Corp (1201) | $11.05 Billion | -2.21% | 2.55x | $192.12 Million |
| Ve Wong Corp (1203) | $6.31 Billion | 6.80% | 0.48x | $316.41 Million |
| Great Wall Enterprise Co Ltd (1210) | $28.90 Billion | 7.59% | 1.16x | $1.36 Billion |
| Charoen Pokphand Enterprise Taiwan Co Ltd (1215) | $12.89 Billion | 23.88% | 1.47x | $984.48 Million |
| Uni-President Enterprises Corp (1216) | $152.70 Billion | 9.51% | 1.48x | $13.34 Billion |
| AGV Products Corp (1217) | $5.30 Billion | 3.35% | 0.85x | $154.71 Million |
| Taisun Enterprise Co Ltd (1218) | $6.40 Billion | 7.25% | 0.38x | $219.87 Million |
| Fwusow Industry Co Ltd (1219) | $3.64 Billion | 6.82% | 0.62x | $119.87 Million |
| Tai Roun Products Co Ltd (1220) | $2.31 Billion | 5.18% | 0.34x | $60.02 Million |
| Formosa Oilseed Processing Co Ltd (1225) | $1.71 Billion | 0.00% | 0.96x | $187.77 Million |
About TTET Union Corp
TTET Union Corporation operates as a soybean crusher in Taiwan and internationally. It operates through TTET Union Corporation and Master Channels Corporation segments. The company engages in the manufacture, processing, sale, import, and export of a range of vegetable oils, including soybean, canola, palm olein, deep frying, and sunflower oil. It also provides soy protein products, such as dehul… Read more