Federal Corp (2102) - Net Assets
Based on the latest financial reports, Federal Corp (2102) has net assets worth NT$5.71 Billion TWD (≈ $180.02 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$12.60 Billion ≈ $397.04 Million USD) and total liabilities (NT$6.89 Billion ≈ $217.02 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 2102 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$5.71 Billion |
| % of Total Assets | 45.34% |
| Annual Growth Rate | 3.72% |
| 5-Year Change | -10.61% |
| 10-Year Change | -33.71% |
| Growth Volatility | 20.72 |
Federal Corp - Net Assets Trend (2000–2024)
This chart illustrates how Federal Corp's net assets have evolved over time, based on quarterly financial data. Also explore Federal Corp asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Federal Corp (2000–2024)
The table below shows the annual net assets of Federal Corp from 2000 to 2024. For live valuation and market cap data, see Federal Corp market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$6.74 Billion ≈ $212.44 Million |
-6.21% |
| 2023-12-31 | NT$7.19 Billion ≈ $226.51 Million |
+80.63% |
| 2022-12-31 | NT$3.98 Billion ≈ $125.40 Million |
-25.01% |
| 2021-12-31 | NT$5.31 Billion ≈ $167.23 Million |
-29.63% |
| 2020-12-31 | NT$7.54 Billion ≈ $237.66 Million |
+3.06% |
| 2019-12-31 | NT$7.32 Billion ≈ $230.61 Million |
-8.83% |
| 2018-12-31 | NT$8.03 Billion ≈ $252.94 Million |
-11.22% |
| 2017-12-31 | NT$9.04 Billion ≈ $284.90 Million |
-8.18% |
| 2016-12-31 | NT$9.85 Billion ≈ $310.30 Million |
-3.18% |
| 2015-12-31 | NT$10.17 Billion ≈ $320.48 Million |
+4.44% |
| 2014-12-31 | NT$9.74 Billion ≈ $306.87 Million |
+5.01% |
| 2013-12-31 | NT$9.28 Billion ≈ $292.23 Million |
+8.41% |
| 2012-12-31 | NT$8.56 Billion ≈ $269.55 Million |
+3.95% |
| 2011-12-31 | NT$8.23 Billion ≈ $259.31 Million |
+8.99% |
| 2010-12-31 | NT$7.55 Billion ≈ $237.93 Million |
+0.39% |
| 2009-12-31 | NT$7.52 Billion ≈ $237.01 Million |
+7.61% |
| 2008-12-31 | NT$6.99 Billion ≈ $220.25 Million |
-3.51% |
| 2007-12-31 | NT$7.25 Billion ≈ $228.26 Million |
+7.90% |
| 2006-12-31 | NT$6.71 Billion ≈ $211.56 Million |
+6.19% |
| 2005-12-31 | NT$6.32 Billion ≈ $199.23 Million |
+9.46% |
| 2004-12-31 | NT$5.78 Billion ≈ $182.01 Million |
+17.50% |
| 2003-12-31 | NT$4.92 Billion ≈ $154.90 Million |
+40.34% |
| 2002-12-31 | NT$3.50 Billion ≈ $110.38 Million |
+14.04% |
| 2001-12-31 | NT$3.07 Billion ≈ $96.79 Million |
+9.49% |
| 2000-12-31 | NT$2.81 Billion ≈ $88.40 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Federal 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 decreased by 537322400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$4.73 Billion | 70.20% |
| Other Comprehensive Income | NT$7.40 Billion | 109.77% |
| Total Equity | NT$6.74 Billion | 100.00% |
Federal Corp Competitors by Market Cap
The table below lists competitors of Federal Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Talon Metals Corp
F:TAO
|
$272.24 Million |
|
Middlefield Banc
NASDAQ:MBCN
|
$272.29 Million |
|
Eagle Point Income Company Inc
NYSE:EIC
|
$272.30 Million |
|
Cape Industries Ltd
KQ:064820
|
$272.33 Million |
|
GULF MARINE SVCS LS -02
F:G0M
|
$272.09 Million |
|
Ritek Corp
TW:2349
|
$272.09 Million |
|
Waffer Technology Corp
TW:6235
|
$272.08 Million |
|
Izmir Firca Sanayi ve Ticaret
IS:IZFAS
|
$272.04 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Federal Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 7,189,623,000 to 6,742,811,000, a change of -446,812,000 (-6.2%).
- Net loss of 465,154,000 reduced equity.
- Other comprehensive income increased equity by 18,348,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-465.15 Million | -6.9% |
| Other Comprehensive Income | NT$18.35 Million | +0.27% |
| Other Changes | NT$-7.00K | -0.0% |
| Total Change | NT$- | -6.21% |
Book Value vs Market Value Analysis
This analysis compares Federal 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: 1.28x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | NT$15.00 | NT$18.80 | x |
| 2007-12-31 | NT$16.09 | NT$18.80 | x |
| 2008-12-31 | NT$15.52 | NT$18.80 | x |
| 2009-12-31 | NT$16.68 | NT$18.80 | x |
| 2010-12-31 | NT$16.79 | NT$18.80 | x |
| 2011-12-31 | NT$18.33 | NT$18.80 | x |
| 2012-12-31 | NT$18.77 | NT$18.80 | x |
| 2013-12-31 | NT$20.14 | NT$18.80 | x |
| 2014-12-31 | NT$21.13 | NT$18.80 | x |
| 2015-12-31 | NT$22.07 | NT$18.80 | x |
| 2016-12-31 | NT$21.43 | NT$18.80 | x |
| 2017-12-31 | NT$19.68 | NT$18.80 | x |
| 2018-12-31 | NT$17.47 | NT$18.80 | x |
| 2019-12-31 | NT$15.93 | NT$18.80 | x |
| 2020-12-31 | NT$16.41 | NT$18.80 | x |
| 2021-12-31 | NT$11.55 | NT$18.80 | x |
| 2022-12-31 | NT$8.66 | NT$18.80 | x |
| 2023-12-31 | NT$15.64 | NT$18.80 | x |
| 2024-12-31 | NT$14.67 | NT$18.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Federal 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): -6.90%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -173.97%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 1.99x
- Recent ROE (-6.90%) is below the historical average (-0.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 10.88% | 8.90% | 0.53x | 2.29x | NT$27.14 Million |
| 2002 | 15.72% | 12.93% | 0.56x | 2.17x | NT$200.43 Million |
| 2003 | 29.49% | 29.79% | 0.60x | 1.65x | NT$958.37 Million |
| 2004 | 10.83% | 11.57% | 0.59x | 1.59x | NT$47.86 Million |
| 2005 | 9.27% | 10.06% | 0.60x | 1.53x | NT$-46.17 Million |
| 2006 | 8.62% | 8.12% | 0.68x | 1.56x | NT$-92.86 Million |
| 2007 | 8.63% | 7.04% | 0.80x | 1.54x | NT$-98.30 Million |
| 2008 | -2.59% | -2.10% | 0.86x | 1.43x | NT$-873.88 Million |
| 2009 | 8.19% | 7.85% | 0.72x | 1.44x | NT$-135.17 Million |
| 2010 | 4.27% | 2.93% | 0.97x | 1.51x | NT$-430.49 Million |
| 2011 | 5.91% | 4.09% | 0.96x | 1.50x | NT$-335.97 Million |
| 2012 | 4.90% | 4.45% | 0.75x | 1.46x | NT$-436.31 Million |
| 2013 | 6.88% | 7.70% | 0.63x | 1.42x | NT$-289.38 Million |
| 2014 | 4.34% | 5.52% | 0.63x | 1.26x | NT$-550.98 Million |
| 2015 | 5.36% | 7.24% | 0.57x | 1.30x | NT$-471.88 Million |
| 2016 | -0.09% | -0.17% | 0.38x | 1.44x | NT$-994.17 Million |
| 2017 | -7.72% | -12.50% | 0.36x | 1.70x | NT$-1.60 Billion |
| 2018 | -15.27% | -24.47% | 0.35x | 1.77x | NT$-2.03 Billion |
| 2019 | -9.03% | -14.55% | 0.33x | 1.86x | NT$-1.39 Billion |
| 2020 | 1.48% | 1.95% | 0.39x | 1.93x | NT$-642.87 Million |
| 2021 | -44.27% | -150.52% | 0.13x | 2.18x | NT$-2.88 Billion |
| 2022 | -34.07% | -83.94% | 0.16x | 2.52x | NT$-1.75 Billion |
| 2023 | -24.05% | -361.47% | 0.03x | 1.92x | NT$-2.45 Billion |
| 2024 | -6.90% | -173.97% | 0.02x | 1.99x | NT$-1.14 Billion |
Industry Comparison
This section compares Federal Corp's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $4,652,066,900
- Average return on equity (ROE) among peers: -0.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Federal Corp (2102) | NT$5.71 Billion | 10.88% | 1.21x | $272.21 Million |
| Tong Yang Industry Co Ltd (1319) | $22.36 Billion | 3.67% | 0.59x | $1.39 Billion |
| Taihan Precision Technology Co Ltd (1336) | $1.63 Billion | 11.82% | 0.50x | $33.99 Million |
| Hiroca Holdings Ltd (1338) | $6.66 Billion | 6.02% | 0.52x | $41.60 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $3.82 Billion | 10.71% | 0.45x | $95.75 Million |
| Right Way Industrial Co Ltd (1506) | $1.35 Billion | 2.60% | 1.04x | $102.21 Million |
| Jui Li Enterprise Co Ltd (1512) | $184.74 Million | -69.38% | 11.01x | $23.14 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.73 Billion | 4.76% | 0.96x | $59.68 Million |
| TYC Brother Industrial Co Ltd (1522) | $3.16 Billion | 2.70% | 1.35x | $304.19 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.53 Billion | 13.32% | 1.15x | $146.61 Million |
| Kian Shen Corp (1525) | $3.11 Billion | 10.29% | 0.23x | $146.38 Million |
About Federal Corp
Federal Corporation produces and sells tires in Taiwan and internationally. It offers tires for the UHP, SUV, LTR, and PCR lines. The company was founded in 1954 and is based in Taoyuan City, Taiwan.