Tah Hsin Industrial Corp
Tahsin Industrial Corporation manufactures and trades rainwear, garments, furniture products, office equipment, and corrugated boards in Taiwan. The company offers plastic and nylon raincoats, wardrobes, nylon jackets, PP corrugated boards, TC garments, leather goods, handbags, file folders, plastic film, carrier bags and laminating machines, etc. It also provides office equipment, including punc… Read more
Tah Hsin Industrial Corp (1315) - Net Assets
Latest net assets as of September 2025: NT$9.43 Billion TWD
Based on the latest financial reports, Tah Hsin Industrial Corp (1315) has net assets worth NT$9.43 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$10.13 Billion) and total liabilities (NT$697.31 Million). 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$9.43 Billion |
| % of Total Assets | 93.11% |
| Annual Growth Rate | 5.09% |
| 5-Year Change | -22.89% |
| 10-Year Change | 35.97% |
| Growth Volatility | 15.03 |
Tah Hsin Industrial Corp - Net Assets Trend (2002–2024)
This chart illustrates how Tah Hsin Industrial 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 Tah Hsin Industrial Corp (2002–2024)
The table below shows the annual net assets of Tah Hsin Industrial Corp from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$9.41 Billion | -11.42% |
| 2023-12-31 | NT$10.62 Billion | -0.15% |
| 2022-12-31 | NT$10.64 Billion | -8.05% |
| 2021-12-31 | NT$11.57 Billion | -5.19% |
| 2020-12-31 | NT$12.20 Billion | +45.40% |
| 2019-12-31 | NT$8.39 Billion | +8.68% |
| 2018-12-31 | NT$7.72 Billion | +5.29% |
| 2017-12-31 | NT$7.33 Billion | +0.63% |
| 2016-12-31 | NT$7.29 Billion | +5.31% |
| 2015-12-31 | NT$6.92 Billion | -3.41% |
| 2014-12-31 | NT$7.17 Billion | -5.05% |
| 2013-12-31 | NT$7.55 Billion | +4.63% |
| 2012-12-31 | NT$7.21 Billion | +16.83% |
| 2011-12-31 | NT$6.17 Billion | -0.04% |
| 2010-12-31 | NT$6.18 Billion | +5.65% |
| 2009-12-31 | NT$5.85 Billion | +15.40% |
| 2008-12-31 | NT$5.07 Billion | -21.74% |
| 2007-12-31 | NT$6.47 Billion | +22.42% |
| 2006-12-31 | NT$5.29 Billion | +37.85% |
| 2005-12-31 | NT$3.84 Billion | +18.59% |
| 2004-12-31 | NT$3.23 Billion | -0.01% |
| 2003-12-31 | NT$3.23 Billion | +2.50% |
| 2002-12-31 | NT$3.16 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tah Hsin Industrial 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 1592.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$5.42 Billion | 57.78% |
| Common Stock | NT$990.99 Million | 10.56% |
| Other Comprehensive Income | NT$668.85 Million | 7.13% |
| Other Components | NT$2.30 Billion | 24.53% |
| Total Equity | NT$9.38 Billion | 100.00% |
Tah Hsin Industrial Corp Competitors by Market Cap
The table below lists competitors of Tah Hsin Industrial Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Share India Securities Limited
NSE:SHAREINDIA
|
$112.21 Million |
|
Shinsegae Inte
KO:031430
|
$112.22 Million |
|
American Oncology Network Inc.
NASDAQ:AONC
|
$112.23 Million |
|
AM Locales Property Socimi
MC:YAML
|
$112.34 Million |
|
Kaltura Inc
NASDAQ:KLTR
|
$112.17 Million |
|
M.C.S. Steel Public Company Limited
BK:MCS
|
$112.11 Million |
|
Nishoku Technology Inc
TW:3679
|
$112.09 Million |
|
ARMATA PHARMACEUT.
F:TG1N
|
$112.09 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tah Hsin Industrial Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 10,594,400,000 to 9,381,253,000, a change of -1,213,147,000 (-11.5%).
- Net income of 205,569,000 contributed positively to equity growth.
- Dividend payments of 477,635,000 reduced retained earnings.
- Other comprehensive income decreased equity by 1,220,872,000.
- Other factors increased equity by 279,791,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$205.57 Million | +2.19% |
| Dividends Paid | NT$477.63 Million | -5.09% |
| Other Comprehensive Income | NT$-1.22 Billion | -13.01% |
| Other Changes | NT$279.79 Million | +2.98% |
| Total Change | NT$- | -11.45% |
Book Value vs Market Value Analysis
This analysis compares Tah Hsin Industrial 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: 0.65x
- 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 1.06x to 0.65x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$60.85 | NT$64.30 | x |
| 2010-12-31 | NT$64.41 | NT$64.30 | x |
| 2011-12-31 | NT$64.39 | NT$64.30 | x |
| 2012-12-31 | NT$75.33 | NT$64.30 | x |
| 2013-12-31 | NT$70.97 | NT$64.30 | x |
| 2014-12-31 | NT$70.16 | NT$64.30 | x |
| 2015-12-31 | NT$72.38 | NT$64.30 | x |
| 2016-12-31 | NT$76.10 | NT$64.30 | x |
| 2017-12-31 | NT$76.52 | NT$64.30 | x |
| 2018-12-31 | NT$80.70 | NT$64.30 | x |
| 2019-12-31 | NT$87.59 | NT$64.30 | x |
| 2020-12-31 | NT$100.04 | NT$64.30 | x |
| 2021-12-31 | NT$93.10 | NT$64.30 | x |
| 2022-12-31 | NT$110.99 | NT$64.30 | x |
| 2023-12-31 | NT$110.86 | NT$64.30 | x |
| 2024-12-31 | NT$98.18 | NT$64.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tah Hsin Industrial Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.19%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.57%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 1.09x
- Recent ROE (2.19%) is below the historical average (6.16%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 4.44% | 3.77% | 0.68x | 1.73x | NT$-175.38 Million |
| 2003 | 4.83% | 3.37% | 0.90x | 1.60x | NT$-164.96 Million |
| 2004 | 6.33% | 4.41% | 0.93x | 1.55x | NT$-118.80 Million |
| 2005 | 7.08% | 5.88% | 0.77x | 1.56x | NT$-110.55 Million |
| 2006 | 5.28% | 5.98% | 0.65x | 1.36x | NT$-247.44 Million |
| 2007 | 5.49% | 7.29% | 0.59x | 1.28x | NT$-289.62 Million |
| 2008 | 6.46% | 7.57% | 0.57x | 1.49x | NT$-178.03 Million |
| 2009 | 1.93% | 3.40% | 0.42x | 1.36x | NT$-468.90 Million |
| 2010 | 3.42% | 6.27% | 0.40x | 1.37x | NT$-404.91 Million |
| 2011 | 10.17% | 17.33% | 0.44x | 1.35x | NT$10.67 Million |
| 2012 | 2.25% | 4.61% | 0.38x | 1.29x | NT$-558.11 Million |
| 2013 | 2.31% | 5.13% | 0.36x | 1.26x | NT$-579.65 Million |
| 2014 | 3.29% | 7.88% | 0.32x | 1.29x | NT$-480.64 Million |
| 2015 | 3.70% | 9.38% | 0.30x | 1.30x | NT$-436.00 Million |
| 2016 | 4.17% | 10.51% | 0.30x | 1.32x | NT$-423.66 Million |
| 2017 | 2.35% | 6.47% | 0.28x | 1.30x | NT$-559.45 Million |
| 2018 | 2.98% | 9.02% | 0.26x | 1.28x | NT$-541.68 Million |
| 2019 | 8.32% | 28.53% | 0.25x | 1.19x | NT$-140.88 Million |
| 2020 | 44.58% | 247.75% | 0.17x | 1.07x | NT$4.21 Billion |
| 2021 | 0.05% | 0.23% | 0.19x | 1.10x | NT$-1.15 Billion |
| 2022 | 6.67% | 26.53% | 0.23x | 1.09x | NT$-352.77 Million |
| 2023 | 3.30% | 16.20% | 0.19x | 1.07x | NT$-710.04 Million |
| 2024 | 2.19% | 9.57% | 0.21x | 1.09x | NT$-732.56 Million |
Industry Comparison
This section compares Tah Hsin Industrial Corp's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $4,038,957,444
- Average return on equity (ROE) among peers: 9.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tah Hsin Industrial Corp (1315) | NT$9.43 Billion | 4.44% | 0.07x | $112.20 Million |
| Tex-Ray Industrial Co Ltd (1467) | $1.78 Billion | 0.00% | 1.86x | $23.42 Million |
| Tainan Enterprises Co Ltd (1473) | $4.19 Billion | 5.35% | 0.64x | $52.82 Million |
| Eclat Textile Co Ltd (1476) | $8.12 Billion | 33.73% | 0.55x | $1.58 Billion |
| Makalot Industrial Co Ltd (1477) | $15.45 Billion | 22.76% | 0.58x | $1.92 Billion |
| Munsin Garment (2916) | $915.83 Million | 9.10% | 0.38x | $43.53 Million |
| Cayman Tung Ling Co Ltd (2924) | $644.14 Million | -15.03% | 0.69x | $8.00 Million |
| TOPBI International Holdings Ltd (2929) | $3.53 Billion | 23.72% | 0.58x | $18.49 Million |
| Est Global Apparel Co.Ltd (4413) | $294.23 Million | 2.11% | 0.41x | $11.04 Million |
| Roo Hsing Co Ltd (4414) | $1.44 Billion | 0.00% | 1.49x | $65.02 Million |