Hey-Song Corp
Hey Song Corporation produces, distributes, and sells beverages primarily in Taiwan. The company offers carbonated drinks under the HeySong Sarsaparilla, C&C, and HeySong Soda brands; coffee under the Wincafe brand; tea under the HeySong Camellia Green Tea, and HeySong Tea brands; and sports drinks under the HeySong FIN brand. The company is also engaged in the production and sale of beverages be… Read more
Hey-Song Corp (1234) - Net Assets
Latest net assets as of June 2025: NT$18.44 Billion TWD
Based on the latest financial reports, Hey-Song Corp (1234) has net assets worth NT$18.44 Billion TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$23.95 Billion) and total liabilities (NT$5.51 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$18.44 Billion |
| % of Total Assets | 77.0% |
| Annual Growth Rate | 4.06% |
| 5-Year Change | 4.24% |
| 10-Year Change | 8.14% |
| Growth Volatility | 13.82 |
Hey-Song Corp - Net Assets Trend (2002–2024)
This chart illustrates how Hey-Song 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 Hey-Song Corp (2002–2024)
The table below shows the annual net assets of Hey-Song Corp from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$18.83 Billion | +1.01% |
| 2023-12-31 | NT$18.65 Billion | +1.64% |
| 2022-12-31 | NT$18.35 Billion | +1.11% |
| 2021-12-31 | NT$18.14 Billion | +0.42% |
| 2020-12-31 | NT$18.07 Billion | +1.04% |
| 2019-12-31 | NT$17.88 Billion | +1.44% |
| 2018-12-31 | NT$17.63 Billion | +0.38% |
| 2017-12-31 | NT$17.56 Billion | -1.55% |
| 2016-12-31 | NT$17.84 Billion | +2.41% |
| 2015-12-31 | NT$17.42 Billion | +0.27% |
| 2014-12-31 | NT$17.37 Billion | -2.28% |
| 2013-12-31 | NT$17.78 Billion | -12.38% |
| 2012-12-31 | NT$20.29 Billion | +58.00% |
| 2011-12-31 | NT$12.84 Billion | +31.90% |
| 2010-12-31 | NT$9.73 Billion | +1.76% |
| 2009-12-31 | NT$9.57 Billion | +1.72% |
| 2008-12-31 | NT$9.41 Billion | +0.98% |
| 2007-12-31 | NT$9.31 Billion | +0.65% |
| 2006-12-31 | NT$9.25 Billion | -0.19% |
| 2005-12-31 | NT$9.27 Billion | +6.84% |
| 2004-12-31 | NT$8.68 Billion | +9.86% |
| 2003-12-31 | NT$7.90 Billion | +0.66% |
| 2002-12-31 | NT$7.85 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hey-Song 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 658.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$7.39 Billion | 39.26% |
| Other Components | NT$11.44 Billion | 60.74% |
| Total Equity | NT$18.83 Billion | 100.00% |
Hey-Song Corp Competitors by Market Cap
The table below lists competitors of Hey-Song Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ebara Jitsugyo Co.Ltd
F:EJI
|
$299.18 Million |
|
JinGuan Electric Co Ltd
SHG:688517
|
$299.21 Million |
|
Founders Metals Inc.
OTCQX:FDMIF
|
$299.39 Million |
|
Shanghai Ailu Package Co. Ltd.
SHE:301062
|
$299.39 Million |
|
MAHLE Metal Leve S.A
SA:LEVE3
|
$298.96 Million |
|
Orient International Enterprise Ltd
SHG:600278
|
$298.93 Million |
|
Dalian Sunasia Tourism Holding Co Ltd
SHG:600593
|
$298.93 Million |
|
Strattec Security Corporation
NASDAQ:STRT
|
$298.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hey-Song Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 18,645,915,000 to 18,834,797,000, a change of 188,882,000 (1.0%).
- Net income of 947,398,000 contributed positively to equity growth.
- Dividend payments of 763,555,000 reduced retained earnings.
- Other comprehensive income decreased equity by 112,397,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$947.40 Million | +5.03% |
| Dividends Paid | NT$763.55 Million | -4.05% |
| Other Comprehensive Income | NT$-112.40 Million | -0.6% |
| Other Changes | NT$117.44 Million | +0.62% |
| Total Change | NT$- | 1.01% |
Book Value vs Market Value Analysis
This analysis compares Hey-Song 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: 0.77x
- 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 1.58x to 0.77x 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$22.83 | NT$36.10 | x |
| 2007-12-31 | NT$23.20 | NT$36.10 | x |
| 2008-12-31 | NT$23.40 | NT$36.10 | x |
| 2009-12-31 | NT$23.81 | NT$36.10 | x |
| 2010-12-31 | NT$24.22 | NT$36.10 | x |
| 2011-12-31 | NT$31.95 | NT$36.10 | x |
| 2012-12-31 | NT$37.83 | NT$36.10 | x |
| 2013-12-31 | NT$36.20 | NT$36.10 | x |
| 2014-12-31 | NT$43.19 | NT$36.10 | x |
| 2015-12-31 | NT$43.31 | NT$36.10 | x |
| 2016-12-31 | NT$44.34 | NT$36.10 | x |
| 2017-12-31 | NT$43.67 | NT$36.10 | x |
| 2018-12-31 | NT$43.83 | NT$36.10 | x |
| 2019-12-31 | NT$44.46 | NT$36.10 | x |
| 2020-12-31 | NT$44.92 | NT$36.10 | x |
| 2021-12-31 | NT$45.11 | NT$36.10 | x |
| 2022-12-31 | NT$45.61 | NT$36.10 | x |
| 2023-12-31 | NT$46.36 | NT$36.10 | x |
| 2024-12-31 | NT$46.87 | NT$36.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hey-Song Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.03%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.24%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 1.26x
- Recent ROE (5.03%) is above the historical average (4.96%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 4.31% | 8.35% | 0.31x | 1.65x | NT$-446.54 Million |
| 2003 | 3.53% | 6.24% | 0.34x | 1.65x | NT$-510.74 Million |
| 2004 | 0.50% | 1.09% | 0.30x | 1.51x | NT$-824.71 Million |
| 2005 | 1.05% | 2.53% | 0.30x | 1.39x | NT$-829.55 Million |
| 2006 | 1.23% | 2.91% | 0.31x | 1.36x | NT$-811.82 Million |
| 2007 | 1.61% | 3.69% | 0.32x | 1.35x | NT$-781.56 Million |
| 2008 | 2.20% | 4.72% | 0.35x | 1.34x | NT$-734.03 Million |
| 2009 | 3.36% | 6.35% | 0.39x | 1.36x | NT$-635.48 Million |
| 2010 | 3.40% | 5.97% | 0.42x | 1.36x | NT$-642.65 Million |
| 2011 | 3.06% | 5.90% | 0.39x | 1.32x | NT$-891.65 Million |
| 2012 | 39.99% | 118.30% | 0.28x | 1.20x | NT$6.08 Billion |
| 2013 | 1.76% | 4.77% | 0.29x | 1.25x | NT$-1.47 Billion |
| 2014 | 2.27% | 6.57% | 0.28x | 1.24x | NT$-1.34 Billion |
| 2015 | 3.56% | 9.75% | 0.29x | 1.27x | NT$-1.12 Billion |
| 2016 | 6.20% | 12.62% | 0.39x | 1.25x | NT$-677.69 Million |
| 2017 | 3.09% | 5.98% | 0.40x | 1.30x | NT$-1.21 Billion |
| 2018 | 3.95% | 7.82% | 0.39x | 1.30x | NT$-1.07 Billion |
| 2019 | 4.73% | 9.26% | 0.40x | 1.27x | NT$-941.72 Million |
| 2020 | 4.93% | 9.67% | 0.41x | 1.23x | NT$-916.70 Million |
| 2021 | 4.39% | 8.64% | 0.40x | 1.26x | NT$-1.02 Billion |
| 2022 | 4.83% | 9.27% | 0.42x | 1.24x | NT$-948.40 Million |
| 2023 | 5.09% | 8.97% | 0.46x | 1.22x | NT$-916.14 Million |
| 2024 | 5.03% | 9.24% | 0.43x | 1.26x | NT$-936.08 Million |
Industry Comparison
This section compares Hey-Song Corp's net assets metrics with peer companies in the Beverages - Non-Alcoholic industry.
Industry Context
- Industry: Beverages - Non-Alcoholic
- Average net assets among peers: $1,570,907,667
- Average return on equity (ROE) among peers: 15.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hey-Song Corp (1234) | NT$18.44 Billion | 4.31% | 0.30x | $299.17 Million |
| Oceanic Beverages Co Inc (1213) | $635.21 Million | 1.80% | 0.25x | $3.90 Million |
| Sunjuice Holdings Co Ltd (1256) | $2.06 Billion | 26.63% | 0.53x | $62.86 Million |
| La Kaffa International Co Ltd (2732) | $2.02 Billion | 18.86% | 1.00x | $40.78 Million |