Cheng Shin Rubber Ind. Co Ltd
Cheng Shin Rubber Ind. Co., Ltd., together with subsidiaries, processes, manufactures, and trades in bicycle and electrical vehicle tires, reclaimed rubbers, rubbers and resins, and other rubber products. It also manufactures and trades in various rubber products and related rubber machinery. In addition, the company researches, develops, tests, manufactures, exhibits, imports, exports, wholesale… Read more
Cheng Shin Rubber Ind. Co Ltd (2105) - Net Assets
Latest net assets as of September 2025: NT$82.63 Billion TWD
Based on the latest financial reports, Cheng Shin Rubber Ind. Co Ltd (2105) has net assets worth NT$82.63 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$138.91 Billion) and total liabilities (NT$56.28 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$82.63 Billion |
| % of Total Assets | 59.49% |
| Annual Growth Rate | 8.69% |
| 5-Year Change | 11.61% |
| 10-Year Change | 0.47% |
| Growth Volatility | 9.11 |
Cheng Shin Rubber Ind. Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Cheng Shin Rubber Ind. Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Cheng Shin Rubber Ind. Co Ltd (2000–2024)
The table below shows the annual net assets of Cheng Shin Rubber Ind. Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$90.38 Billion | +5.09% |
| 2023-12-31 | NT$86.00 Billion | +1.91% |
| 2022-12-31 | NT$84.39 Billion | +3.57% |
| 2021-12-31 | NT$81.48 Billion | +0.62% |
| 2020-12-31 | NT$80.98 Billion | +3.85% |
| 2019-12-31 | NT$77.97 Billion | -2.31% |
| 2018-12-31 | NT$79.82 Billion | -3.71% |
| 2017-12-31 | NT$82.89 Billion | -6.09% |
| 2016-12-31 | NT$88.27 Billion | -1.87% |
| 2015-12-31 | NT$89.95 Billion | +1.58% |
| 2014-12-31 | NT$88.56 Billion | +11.53% |
| 2013-12-31 | NT$79.40 Billion | +25.18% |
| 2012-12-31 | NT$63.43 Billion | +21.37% |
| 2011-12-31 | NT$52.26 Billion | +15.67% |
| 2010-12-31 | NT$45.18 Billion | +11.67% |
| 2009-12-31 | NT$40.46 Billion | +25.11% |
| 2008-12-31 | NT$32.34 Billion | +12.81% |
| 2007-12-31 | NT$28.67 Billion | +24.11% |
| 2006-12-31 | NT$23.10 Billion | +9.03% |
| 2005-12-31 | NT$21.18 Billion | +13.78% |
| 2004-12-31 | NT$18.62 Billion | +3.28% |
| 2003-12-31 | NT$18.03 Billion | +11.57% |
| 2002-12-31 | NT$16.16 Billion | +15.89% |
| 2001-12-31 | NT$13.94 Billion | +13.86% |
| 2000-12-31 | NT$12.25 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cheng Shin Rubber Ind. 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 1975.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$36.65 Billion | 40.82% |
| Common Stock | NT$32.41 Billion | 36.09% |
| Other Comprehensive Income | NT$20.73 Billion | 23.08% |
| Other Components | NT$9.77 Million | 0.01% |
| Total Equity | NT$89.81 Billion | 100.00% |
Cheng Shin Rubber Ind. Co Ltd Competitors by Market Cap
The table below lists competitors of Cheng Shin Rubber Ind. Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CETC Digital Technology Co Ltd
SHG:600850
|
$1.23 Billion |
|
Brickworks Limited
PINK:BRKWF
|
$1.23 Billion |
|
SBT Ultrasonic Technology Co. Ltd. A
SHG:688392
|
$1.23 Billion |
|
Jumia Technologies AG
NYSE:JMIA
|
$1.23 Billion |
|
Electrolux AB Class B
LSE:0MDT
|
$1.23 Billion |
|
ChipMOS Technologies Inc
NASDAQ:IMOS
|
$1.23 Billion |
|
Henan Yicheng New Energy Co Ltd
SHE:300080
|
$1.23 Billion |
|
Shanghai Yuyuan Tourist Mart Co Ltd
SHG:600655
|
$1.23 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cheng Shin Rubber Ind. Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 85,432,555,000 to 89,805,508,000, a change of 4,372,953,000 (5.1%).
- Net income of 8,017,116,000 contributed positively to equity growth.
- Dividend payments of 6,505,549,000 reduced retained earnings.
- Other comprehensive income increased equity by 27,648,522,000.
- Other factors decreased equity by 24,787,136,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$8.02 Billion | +8.93% |
| Dividends Paid | NT$6.51 Billion | -7.24% |
| Other Comprehensive Income | NT$27.65 Billion | +30.79% |
| Other Changes | NT$-24.79 Billion | -27.6% |
| Total Change | NT$- | 5.12% |
Book Value vs Market Value Analysis
This analysis compares Cheng Shin Rubber Ind. 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: 1.06x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.55x to 1.06x 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$6.47 | NT$29.40 | x |
| 2007-12-31 | NT$7.97 | NT$29.40 | x |
| 2008-12-31 | NT$8.94 | NT$29.40 | x |
| 2009-12-31 | NT$12.34 | NT$29.40 | x |
| 2010-12-31 | NT$13.79 | NT$29.40 | x |
| 2011-12-31 | NT$15.97 | NT$29.40 | x |
| 2012-12-31 | NT$19.36 | NT$29.40 | x |
| 2013-12-31 | NT$24.26 | NT$29.40 | x |
| 2014-12-31 | NT$27.03 | NT$29.40 | x |
| 2015-12-31 | NT$27.44 | NT$29.40 | x |
| 2016-12-31 | NT$26.94 | NT$29.40 | x |
| 2017-12-31 | NT$25.33 | NT$29.40 | x |
| 2018-12-31 | NT$24.41 | NT$29.40 | x |
| 2019-12-31 | NT$23.86 | NT$29.40 | x |
| 2020-12-31 | NT$24.78 | NT$29.40 | x |
| 2021-12-31 | NT$24.93 | NT$29.40 | x |
| 2022-12-31 | NT$25.82 | NT$29.40 | x |
| 2023-12-31 | NT$26.31 | NT$29.40 | x |
| 2024-12-31 | NT$27.67 | NT$29.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cheng Shin Rubber Ind. 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): 8.93%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.33%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 1.63x
- Recent ROE (8.93%) is below the historical average (13.67%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 11.00% | 8.74% | 0.65x | 1.94x | NT$122.02 Million |
| 2001 | 12.14% | 9.72% | 0.70x | 1.78x | NT$298.06 Million |
| 2002 | 17.48% | 13.33% | 0.72x | 1.83x | NT$1.21 Billion |
| 2003 | 15.96% | 10.98% | 0.67x | 2.17x | NT$1.07 Billion |
| 2004 | 12.27% | 7.23% | 0.66x | 2.56x | NT$423.46 Million |
| 2005 | 7.38% | 3.81% | 0.68x | 2.85x | NT$-503.01 Million |
| 2006 | 9.34% | 4.08% | 0.82x | 2.80x | NT$-139.17 Million |
| 2007 | 21.55% | 8.69% | 0.93x | 2.66x | NT$2.98 Billion |
| 2008 | 12.20% | 4.66% | 0.90x | 2.91x | NT$640.36 Million |
| 2009 | 33.50% | 15.89% | 0.94x | 2.25x | NT$9.42 Billion |
| 2010 | 23.02% | 10.32% | 0.93x | 2.40x | NT$5.83 Billion |
| 2011 | 16.47% | 7.12% | 0.84x | 2.76x | NT$3.35 Billion |
| 2012 | 25.28% | 12.20% | 0.86x | 2.40x | NT$9.61 Billion |
| 2013 | 23.53% | 13.94% | 0.82x | 2.06x | NT$10.67 Billion |
| 2014 | 18.25% | 12.41% | 0.76x | 1.94x | NT$7.24 Billion |
| 2015 | 14.33% | 10.95% | 0.70x | 1.86x | NT$3.86 Billion |
| 2016 | 15.15% | 11.29% | 0.70x | 1.92x | NT$4.50 Billion |
| 2017 | 6.74% | 4.93% | 0.63x | 2.18x | NT$-2.68 Billion |
| 2018 | 4.45% | 3.22% | 0.62x | 2.21x | NT$-4.40 Billion |
| 2019 | 4.48% | 3.17% | 0.67x | 2.12x | NT$-4.27 Billion |
| 2020 | 7.45% | 6.22% | 0.64x | 1.88x | NT$-2.06 Billion |
| 2021 | 6.51% | 5.19% | 0.68x | 1.85x | NT$-2.82 Billion |
| 2022 | 5.92% | 5.03% | 0.68x | 1.74x | NT$-3.42 Billion |
| 2023 | 8.41% | 7.47% | 0.68x | 1.66x | NT$-1.36 Billion |
| 2024 | 8.93% | 8.33% | 0.66x | 1.63x | NT$-963.43 Million |
Industry Comparison
This section compares Cheng Shin Rubber Ind. Co Ltd's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $5,222,392,000
- Average return on equity (ROE) among peers: 5.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cheng Shin Rubber Ind. Co Ltd (2105) | NT$82.63 Billion | 11.00% | 0.68x | $1.23 Billion |
| Tong Yang Industry Co Ltd (1319) | $22.36 Billion | 3.67% | 0.59x | $997.47 Million |
| Taihan Precision Technology Co Ltd (1336) | $1.66 Billion | 6.42% | 0.51x | $21.32 Million |
| Hiroca Holdings Ltd (1338) | $6.57 Billion | 4.49% | 0.58x | $25.70 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $3.60 Billion | 10.46% | 0.49x | $26.07 Million |
| Right Way Industrial Co Ltd (1506) | $1.35 Billion | 0.41% | 1.38x | $45.05 Million |
| Jui Li Enterprise Co Ltd (1512) | $2.16 Billion | -2.60% | 1.73x | $15.40 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.90 Billion | 18.96% | 0.91x | $18.24 Million |
| TYC Brother Industrial Co Ltd (1522) | $5.81 Billion | 1.09% | 2.29x | $174.92 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.20 Billion | 1.66% | 1.28x | $89.59 Million |
| Kian Shen Corp (1525) | $4.62 Billion | 5.84% | 0.21x | $31.87 Million |