Cheng Shin Rubber Ind. Co Ltd (2105) - Net Assets

Latest as of December 2025: NT$87.53 Billion TWD ≈ $2.76 Billion USD

Based on the latest financial reports, Cheng Shin Rubber Ind. Co Ltd (2105) has net assets worth NT$87.53 Billion TWD (≈ $2.76 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$142.88 Billion ≈ $4.50 Billion USD) and total liabilities (NT$55.35 Billion ≈ $1.74 Billion 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 tangible equity quality of Cheng Shin Rubber Ind. Co Ltd to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	NT$87.53 Billion
% of Total Assets	61.26%
Annual Growth Rate	8.19%
5-Year Change	7.43%
10-Year Change	-0.83%
Growth Volatility	9.24

Cheng Shin Rubber Ind. Co Ltd - Net Assets Trend (2000–2025)

This chart illustrates how Cheng Shin Rubber Ind. Co Ltd's net assets have evolved over time, based on quarterly financial data. See 2105 defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Cheng Shin Rubber Ind. Co Ltd (2000–2025)

The table below shows the annual net assets of Cheng Shin Rubber Ind. Co Ltd from 2000 to 2025. For live valuation and market cap data, see 2105 market cap.

Year	Net Assets	Change
2025-12-31	NT$87.53 Billion ≈ $2.76 Billion	-3.14%
2024-12-31	NT$90.38 Billion ≈ $2.85 Billion	+5.09%
2023-12-31	NT$86.00 Billion ≈ $2.71 Billion	+1.91%
2022-12-31	NT$84.39 Billion ≈ $2.66 Billion	+3.57%
2021-12-31	NT$81.48 Billion ≈ $2.57 Billion	+0.62%
2020-12-31	NT$80.98 Billion ≈ $2.55 Billion	+3.85%
2019-12-31	NT$77.97 Billion ≈ $2.46 Billion	-2.31%
2018-12-31	NT$79.82 Billion ≈ $2.51 Billion	-3.71%
2017-12-31	NT$82.89 Billion ≈ $2.61 Billion	-6.09%
2016-12-31	NT$88.27 Billion ≈ $2.78 Billion	-1.87%
2015-12-31	NT$89.95 Billion ≈ $2.83 Billion	+1.58%
2014-12-31	NT$88.56 Billion ≈ $2.79 Billion	+11.53%
2013-12-31	NT$79.40 Billion ≈ $2.50 Billion	+25.18%
2012-12-31	NT$63.43 Billion ≈ $2.00 Billion	+21.37%
2011-12-31	NT$52.26 Billion ≈ $1.65 Billion	+15.67%
2010-12-31	NT$45.18 Billion ≈ $1.42 Billion	+11.67%
2009-12-31	NT$40.46 Billion ≈ $1.27 Billion	+25.11%
2008-12-31	NT$32.34 Billion ≈ $1.02 Billion	+12.81%
2007-12-31	NT$28.67 Billion ≈ $903.21 Million	+24.11%
2006-12-31	NT$23.10 Billion ≈ $727.73 Million	+9.03%
2005-12-31	NT$21.18 Billion ≈ $667.43 Million	+13.78%
2004-12-31	NT$18.62 Billion ≈ $586.60 Million	+3.28%
2003-12-31	NT$18.03 Billion ≈ $567.94 Million	+11.57%
2002-12-31	NT$16.16 Billion ≈ $509.06 Million	+15.89%
2001-12-31	NT$13.94 Billion ≈ $439.25 Million	+13.86%
2000-12-31	NT$12.25 Billion ≈ $385.79 Million	--

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 1919.7% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	NT$35.67 Billion	41.01%
Common Stock	NT$32.41 Billion	37.27%
Other Comprehensive Income	NT$18.88 Billion	21.71%
Other Components	NT$9.77 Million	0.01%
Total Equity	NT$86.98 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
Ardentec TWO:3264	$3.28 Billion
Lifestance Health Group Inc NASDAQ:LFST	$3.29 Billion
WNS Holdings Ltd NYSE:WNS	$3.29 Billion
Guangdong Dongfang Precision Science & Technology Co Ltd SHE:002611	$3.29 Billion
Dana Inc NYSE:DAN	$3.28 Billion
Miami International Holdings, Inc. NYSE:MIAX	$3.28 Billion
Beijing GeoEnviron Engineering SHG:603588	$3.28 Billion
Charoen Pokphand Indonesia TBK PT JK:CPIN	$3.28 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 2024 to 2025, total equity changed from 89,805,508,000 to 86,981,084,000, a change of -2,824,424,000 (-3.1%).
Net income of 4,835,490,000 contributed positively to equity growth.
Dividend payments of 7,779,452,000 reduced retained earnings.
Other comprehensive income decreased equity by 1,844,707,000.
Other factors increased equity by 1,964,245,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	NT$4.84 Billion	+5.56%
Dividends Paid	NT$7.78 Billion	-8.94%
Other Comprehensive Income	NT$-1.84 Billion	-2.12%
Other Changes	NT$1.96 Billion	+2.26%
Total Change	NT$-	-3.15%

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: 1.19x
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 4.97x to 1.19x 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$32.15	x
2007-12-31	NT$7.97	NT$32.15	x
2008-12-31	NT$8.94	NT$32.15	x
2009-12-31	NT$12.34	NT$32.15	x
2010-12-31	NT$13.79	NT$32.15	x
2011-12-31	NT$15.97	NT$32.15	x
2012-12-31	NT$19.36	NT$32.15	x
2013-12-31	NT$24.26	NT$32.15	x
2014-12-31	NT$27.03	NT$32.15	x
2015-12-31	NT$27.44	NT$32.15	x
2016-12-31	NT$26.94	NT$32.15	x
2017-12-31	NT$25.33	NT$32.15	x
2018-12-31	NT$24.41	NT$32.15	x
2019-12-31	NT$23.86	NT$32.15	x
2020-12-31	NT$24.78	NT$32.15	x
2021-12-31	NT$24.93	NT$32.15	x
2022-12-31	NT$25.82	NT$32.15	x
2023-12-31	NT$26.31	NT$32.15	x
2024-12-31	NT$27.67	NT$32.15	x
2025-12-31	NT$26.98	NT$32.15	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): 5.56%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.33%
• Asset Turnover: 0.64x
• Equity Multiplier: 1.64x
Recent ROE (5.56%) is below the historical average (13.36%), 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$-963.43 Million
2025	5.56%	5.33%	0.64x	1.64x	NT$-3.86 Billion

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: $3,078,227,600
Average return on equity (ROE) among peers: -2.07%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Cheng Shin Rubber Ind. Co Ltd (2105)	NT$87.53 Billion	11.00%	0.63x	$3.28 Billion
Tong Yang Industry Co Ltd (1319)	$6.05 Billion	20.08%	0.97x	$1.86 Billion
Taihan Precision Technology Co Ltd (1336)	$1.55 Billion	4.97%	0.46x	$36.80 Million
Hiroca Holdings Ltd (1338)	$6.43 Billion	-2.56%	0.75x	$43.76 Million
Y.C.C. Parts MFG Co Ltd (1339)	$1.18 Billion	11.24%	1.07x	$104.39 Million
Right Way Industrial Co Ltd (1506)	$1.32 Billion	0.00%	1.41x	$98.90 Million
Jui Li Enterprise Co Ltd (1512)	$629.61 Million	-89.26%	4.54x	$21.31 Million
Ta Yih Industrial Co Ltd (1521)	$1.90 Billion	18.96%	0.91x	$63.76 Million
TYC Brother Industrial Co Ltd (1522)	$5.52 Billion	-3.26%	2.21x	$307.14 Million
Gordon Auto Body Parts Co Ltd (1524)	$1.78 Billion	12.19%	1.22x	$153.90 Million
Kian Shen Corp (1525)	$4.44 Billion	6.91%	0.20x	$151.47 Million

About Cheng Shin Rubber Ind. Co Ltd

TW:2105 Taiwan Auto Parts

Market Cap

$3.28 Billion

NT$104.21 Billion TWD

Market Cap Rank

#4765 Global

#141 in Taiwan

Share Price

NT$32.15

Change (1 day)

-5.16%

52-Week Range

NT$28.20 - NT$42.20

All Time High

NT$59.79