SanDi Properties Co Ltd (1438) - Net Assets
Based on the latest financial reports, SanDi Properties Co Ltd (1438) has net assets worth NT$3.21 Billion TWD (≈ $101.20 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$14.18 Billion ≈ $446.64 Million USD) and total liabilities (NT$10.96 Billion ≈ $345.44 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 1438 tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.21 Billion |
| % of Total Assets | 22.66% |
| Annual Growth Rate | 10.09% |
| 5-Year Change | 182.85% |
| 10-Year Change | 479.17% |
| Growth Volatility | 1422.66 |
SanDi Properties Co Ltd - Net Assets Trend (2002–2025)
This chart illustrates how SanDi Properties Co Ltd's net assets have evolved over time, based on quarterly financial data. See SanDi Properties Co Ltd (1438) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for SanDi Properties Co Ltd (2002–2025)
The table below shows the annual net assets of SanDi Properties Co Ltd from 2002 to 2025. For live valuation and market cap data, see 1438 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.14 Billion ≈ $98.95 Million |
+6.37% |
| 2024-12-31 | NT$2.95 Billion ≈ $93.03 Million |
+58.94% |
| 2023-12-31 | NT$1.86 Billion ≈ $58.53 Million |
-7.75% |
| 2022-12-31 | NT$2.01 Billion ≈ $63.45 Million |
+81.37% |
| 2021-12-31 | NT$1.11 Billion ≈ $34.98 Million |
+98.20% |
| 2020-12-31 | NT$560.24 Million ≈ $17.65 Million |
+8.93% |
| 2019-12-31 | NT$514.32 Million ≈ $16.20 Million |
-2.00% |
| 2018-12-31 | NT$524.84 Million ≈ $16.54 Million |
-2.21% |
| 2017-12-31 | NT$536.72 Million ≈ $16.91 Million |
-1.03% |
| 2016-12-31 | NT$542.28 Million ≈ $17.08 Million |
-1.28% |
| 2015-12-31 | NT$549.32 Million ≈ $17.31 Million |
+2.04% |
| 2014-12-31 | NT$538.34 Million ≈ $16.96 Million |
+0.68% |
| 2013-12-31 | NT$534.69 Million ≈ $16.85 Million |
+5.89% |
| 2012-12-31 | NT$504.93 Million ≈ $15.91 Million |
+2.03% |
| 2011-12-31 | NT$494.87 Million ≈ $15.59 Million |
+2.70% |
| 2010-12-31 | NT$481.84 Million ≈ $15.18 Million |
+6974.39% |
| 2009-12-31 | NT$6.81 Million ≈ $214.58K |
-85.85% |
| 2008-12-31 | NT$48.14 Million ≈ $1.52 Million |
-56.01% |
| 2007-12-31 | NT$109.43 Million ≈ $3.45 Million |
-39.05% |
| 2006-12-31 | NT$179.54 Million ≈ $5.66 Million |
-20.41% |
| 2005-12-31 | NT$225.58 Million ≈ $7.11 Million |
-19.97% |
| 2004-12-31 | NT$281.86 Million ≈ $8.88 Million |
+9.37% |
| 2003-12-31 | NT$257.70 Million ≈ $8.12 Million |
-25.07% |
| 2002-12-31 | NT$343.94 Million ≈ $10.84 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to SanDi Properties 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 28633000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$286.33 Million | 9.12% |
| Common Stock | NT$1.11 Billion | 35.41% |
| Other Comprehensive Income | NT$267.37 Million | 8.51% |
| Other Components | NT$1.47 Billion | 46.96% |
| Total Equity | NT$3.14 Billion | 100.00% |
SanDi Properties Co Ltd Competitors by Market Cap
The table below lists competitors of SanDi Properties Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PT DFI Retail Nusantara Tbk
JK:HERO
|
$77.96 Million |
|
Wentel Engineering Holdings Berhad
KLSE:0298
|
$77.96 Million |
|
NEOOTO Co. Ltd
KQ:212560
|
$78.04 Million |
|
Laboratorios Richmond SACIF
BA:RICH
|
$78.05 Million |
|
Intrepid Metals Corp
V:INTR
|
$77.94 Million |
|
Kyungdong City Gas Co Ltd
KO:267290
|
$77.92 Million |
|
Avgol Industries 1953 Ltd
TA:AVGL
|
$77.91 Million |
|
Global Data Centre Group
AU:GDC
|
$77.91 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SanDi Properties Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,952,757,000 to 3,140,759,000, a change of 188,002,000 (6.4%).
- Net income of 194,020,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 267,373,000.
- Other factors decreased equity by 273,391,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$194.02 Million | +6.18% |
| Other Comprehensive Income | NT$267.37 Million | +8.51% |
| Other Changes | NT$-273.39 Million | -8.7% |
| Total Change | NT$- | 6.37% |
Book Value vs Market Value Analysis
This analysis compares SanDi Properties 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: 0.91x
- 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 4.26x to 0.91x 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$5.22 | NT$22.25 | x |
| 2005-12-31 | NT$4.17 | NT$22.25 | x |
| 2006-12-31 | NT$3.33 | NT$22.25 | x |
| 2007-12-31 | NT$2.03 | NT$22.25 | x |
| 2008-12-31 | NT$0.89 | NT$22.25 | x |
| 2009-12-31 | NT$0.13 | NT$22.25 | x |
| 2010-12-31 | NT$8.93 | NT$22.25 | x |
| 2011-12-31 | NT$9.17 | NT$22.25 | x |
| 2012-12-31 | NT$9.35 | NT$22.25 | x |
| 2013-12-31 | NT$9.91 | NT$22.25 | x |
| 2014-12-31 | NT$9.97 | NT$22.25 | x |
| 2015-12-31 | NT$10.18 | NT$22.25 | x |
| 2016-12-31 | NT$10.05 | NT$22.25 | x |
| 2017-12-31 | NT$9.94 | NT$22.25 | x |
| 2018-12-31 | NT$9.72 | NT$22.25 | x |
| 2019-12-31 | NT$9.53 | NT$22.25 | x |
| 2020-12-31 | NT$10.38 | NT$22.25 | x |
| 2021-12-31 | NT$20.88 | NT$22.25 | x |
| 2022-12-31 | NT$27.14 | NT$22.25 | x |
| 2023-12-31 | NT$20.37 | NT$22.25 | x |
| 2024-12-31 | NT$32.36 | NT$22.25 | x |
| 2025-12-31 | NT$24.42 | NT$22.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SanDi Properties Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.18%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.41%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 4.60x
- Recent ROE (6.18%) is above the historical average (-33.21%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | -43.04% | -83.61% | 0.13x | 3.86x | NT$-149.50 Million |
| 2005 | -26.53% | -44.14% | 0.13x | 4.55x | NT$-82.22 Million |
| 2006 | -30.73% | -145.46% | 0.04x | 5.25x | NT$-73.12 Million |
| 2007 | -63.96% | -319.35% | 0.03x | 7.46x | NT$-80.94 Million |
| 2008 | -127.66% | -384.74% | 0.02x | 15.34x | NT$-66.27 Million |
| 2009 | -596.59% | -167.23% | 0.03x | 115.51x | NT$-41.32 Million |
| 2010 | 118.51% | 434.55% | 0.22x | 1.23x | NT$522.82 Million |
| 2011 | 8.36% | 94.21% | 0.07x | 1.19x | NT$-8.10 Million |
| 2012 | 1.99% | 35.67% | 0.05x | 1.16x | NT$-40.43 Million |
| 2013 | 5.57% | 48.86% | 0.10x | 1.13x | NT$-23.71 Million |
| 2014 | 0.68% | 29.36% | 0.02x | 1.13x | NT$-50.19 Million |
| 2015 | 2.00% | 46.54% | 0.04x | 1.13x | NT$-43.95 Million |
| 2016 | -1.30% | -11345.16% | 0.00x | 1.13x | NT$-61.26 Million |
| 2017 | -1.04% | -12951.16% | 0.00x | 1.13x | NT$-59.24 Million |
| 2018 | -2.26% | -69876.47% | 0.00x | 1.13x | NT$-64.36 Million |
| 2019 | -2.05% | -95627.27% | 0.00x | 1.14x | NT$-61.95 Million |
| 2020 | 8.20% | 46.65% | 0.05x | 3.33x | NT$-10.10 Million |
| 2021 | 2.71% | 244.71% | 0.00x | 4.72x | NT$-80.95 Million |
| 2022 | 18.55% | 62.75% | 0.07x | 4.11x | NT$172.16 Million |
| 2023 | -3.50% | -20.55% | 0.03x | 5.85x | NT$-250.73 Million |
| 2024 | -4.77% | -12.08% | 0.09x | 4.33x | NT$-436.20 Million |
| 2025 | 6.18% | 15.41% | 0.09x | 4.60x | NT$-120.06 Million |
Industry Comparison
This section compares SanDi Properties Co Ltd's net assets metrics with peer companies in the Real Estate - Diversified industry.
Industry Context
- Industry: Real Estate - Diversified
- Average net assets among peers: $5,181,852,500
- Average return on equity (ROE) among peers: 6.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SanDi Properties Co Ltd (1438) | NT$3.21 Billion | -43.04% | 3.41x | $77.95 Million |
| Huang Hsiang Construction Corp (2545) | $1.73 Billion | 7.90% | 1.65x | $461.20 Million |
| Rich Development Co Ltd (5512) | $16.02 Billion | 0.90% | 1.02x | $190.31 Million |
| Full Wang International Development Co Ltd (6219) | $725.40 Million | 2.73% | 1.78x | $50.59 Million |
| San Far Property Ltd (9946) | $2.25 Billion | 14.55% | 2.15x | $210.56 Million |
About SanDi Properties Co Ltd
SanDi Properties Co.,Ltd. engages in the construction of commercial and industrial buildings in Taiwan. It is also involved in the residential rental and sale; real estate trading; and other types of department store distribution business. The company was formerly known as Yu Foong International Corporation. SanDi Properties Co.,Ltd. was founded in 1944 and is based in Kaohsiung, Taiwan.