Kenda Rubber Industrial Co Ltd (2106) - Net Assets
Based on the latest financial reports, Kenda Rubber Industrial Co Ltd (2106) has net assets worth NT$18.63 Billion TWD (≈ $586.92 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$44.24 Billion ≈ $1.39 Billion USD) and total liabilities (NT$25.61 Billion ≈ $806.78 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 2106 asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$18.63 Billion |
| % of Total Assets | 42.11% |
| Annual Growth Rate | 7.0% |
| 5-Year Change | 10.33% |
| 10-Year Change | -2.78% |
| Growth Volatility | 8.89 |
Kenda Rubber Industrial Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Kenda Rubber Industrial Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Kenda Rubber Industrial Co Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for Kenda Rubber Industrial Co Ltd (2000–2024)
The table below shows the annual net assets of Kenda Rubber Industrial Co Ltd from 2000 to 2024. For live valuation and market cap data, see market cap of Kenda Rubber Industrial Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$21.08 Billion ≈ $664.25 Million |
+7.72% |
| 2023-12-31 | NT$19.57 Billion ≈ $616.67 Million |
+0.99% |
| 2022-12-31 | NT$19.38 Billion ≈ $610.65 Million |
+3.44% |
| 2021-12-31 | NT$18.74 Billion ≈ $590.34 Million |
-1.95% |
| 2020-12-31 | NT$19.11 Billion ≈ $602.06 Million |
+1.74% |
| 2019-12-31 | NT$18.78 Billion ≈ $591.76 Million |
-1.23% |
| 2018-12-31 | NT$19.02 Billion ≈ $599.11 Million |
-0.95% |
| 2017-12-31 | NT$19.20 Billion ≈ $604.84 Million |
-10.88% |
| 2016-12-31 | NT$21.54 Billion ≈ $678.65 Million |
-0.67% |
| 2015-12-31 | NT$21.69 Billion ≈ $683.24 Million |
+7.50% |
| 2014-12-31 | NT$20.17 Billion ≈ $635.55 Million |
+19.99% |
| 2013-12-31 | NT$16.81 Billion ≈ $529.69 Million |
+16.72% |
| 2012-12-31 | NT$14.40 Billion ≈ $453.82 Million |
+8.83% |
| 2011-12-31 | NT$13.24 Billion ≈ $416.99 Million |
+27.47% |
| 2010-12-31 | NT$10.38 Billion ≈ $327.14 Million |
+0.78% |
| 2009-12-31 | NT$10.30 Billion ≈ $324.62 Million |
+25.27% |
| 2008-12-31 | NT$8.23 Billion ≈ $259.15 Million |
+15.00% |
| 2007-12-31 | NT$7.15 Billion ≈ $225.35 Million |
+13.73% |
| 2006-12-31 | NT$6.29 Billion ≈ $198.15 Million |
+7.30% |
| 2005-12-31 | NT$5.86 Billion ≈ $184.67 Million |
+3.74% |
| 2004-12-31 | NT$5.65 Billion ≈ $178.01 Million |
+2.26% |
| 2003-12-31 | NT$5.53 Billion ≈ $174.08 Million |
+8.01% |
| 2002-12-31 | NT$5.12 Billion ≈ $161.18 Million |
+11.92% |
| 2001-12-31 | NT$4.57 Billion ≈ $144.01 Million |
+9.91% |
| 2000-12-31 | NT$4.16 Billion ≈ $131.03 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Kenda Rubber Industrial 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 2720.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$6.82 Billion | 32.33% |
| Common Stock | NT$9.55 Billion | 45.29% |
| Other Comprehensive Income | NT$4.72 Billion | 22.38% |
| Total Equity | NT$21.08 Billion | 100.00% |
Kenda Rubber Industrial Co Ltd Competitors by Market Cap
The table below lists competitors of Kenda Rubber Industrial Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Kingsun Science Tech
SHE:300235
|
$519.05 Million |
|
Mesa Laboratories Inc
NASDAQ:MLAB
|
$519.17 Million |
|
Core Lithium Ltd
AU:CXO
|
$519.19 Million |
|
Bar Harbor Bankshares Inc
NYSE MKT:BHB
|
$519.43 Million |
|
Hailun Piano Co Ltd
SHE:300329
|
$518.82 Million |
|
Dear U Co. Ltd.
KQ:376300
|
$518.81 Million |
|
Hanwha General
KO:000370
|
$518.71 Million |
|
Hagag Group
TA:HGG
|
$518.69 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kenda Rubber Industrial Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 19,573,421,000 to 21,083,563,000, a change of 1,510,142,000 (7.7%).
- Net income of 1,240,953,000 contributed positively to equity growth.
- Dividend payments of 954,890,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,540,253,000.
- Other factors decreased equity by 316,174,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.24 Billion | +5.89% |
| Dividends Paid | NT$954.89 Million | -4.53% |
| Other Comprehensive Income | NT$1.54 Billion | +7.31% |
| Other Changes | NT$-316.17 Million | -1.5% |
| Total Change | NT$- | 7.72% |
Book Value vs Market Value Analysis
This analysis compares Kenda Rubber Industrial 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: 0.78x
- 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 2.46x to 0.78x 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$7.01 | NT$17.25 | x |
| 2007-12-31 | NT$8.04 | NT$17.25 | x |
| 2008-12-31 | NT$8.58 | NT$17.25 | x |
| 2009-12-31 | NT$12.11 | NT$17.25 | x |
| 2010-12-31 | NT$10.86 | NT$17.25 | x |
| 2011-12-31 | NT$13.85 | NT$17.25 | x |
| 2012-12-31 | NT$15.07 | NT$17.25 | x |
| 2013-12-31 | NT$17.60 | NT$17.25 | x |
| 2014-12-31 | NT$21.11 | NT$17.25 | x |
| 2015-12-31 | NT$22.69 | NT$17.25 | x |
| 2016-12-31 | NT$22.55 | NT$17.25 | x |
| 2017-12-31 | NT$20.10 | NT$17.25 | x |
| 2018-12-31 | NT$19.91 | NT$17.25 | x |
| 2019-12-31 | NT$19.66 | NT$17.25 | x |
| 2020-12-31 | NT$20.00 | NT$17.25 | x |
| 2021-12-31 | NT$19.61 | NT$17.25 | x |
| 2022-12-31 | NT$20.29 | NT$17.25 | x |
| 2023-12-31 | NT$20.49 | NT$17.25 | x |
| 2024-12-31 | NT$22.07 | NT$17.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kenda Rubber Industrial Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.89%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.63%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 2.24x
- Recent ROE (5.89%) is below the historical average (9.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 3.51% | 2.48% | 0.65x | 2.19x | NT$-270.03 Million |
| 2001 | 4.95% | 3.65% | 0.63x | 2.14x | NT$-230.88 Million |
| 2002 | 14.68% | 9.47% | 0.75x | 2.08x | NT$239.47 Million |
| 2003 | 13.52% | 8.01% | 0.84x | 2.01x | NT$194.73 Million |
| 2004 | 10.51% | 5.53% | 0.91x | 2.09x | NT$28.99 Million |
| 2005 | 0.91% | 0.46% | 0.89x | 2.19x | NT$-532.41 Million |
| 2006 | 6.59% | 2.86% | 1.05x | 2.19x | NT$-214.63 Million |
| 2007 | 6.87% | 2.66% | 1.16x | 2.23x | NT$-223.60 Million |
| 2008 | 5.27% | 2.05% | 1.23x | 2.10x | NT$-387.48 Million |
| 2009 | 24.19% | 12.90% | 1.05x | 1.78x | NT$1.46 Billion |
| 2010 | 14.87% | 6.51% | 1.18x | 1.94x | NT$506.11 Million |
| 2011 | 22.81% | 10.86% | 1.14x | 1.84x | NT$1.70 Billion |
| 2012 | 18.35% | 9.01% | 1.11x | 1.83x | NT$1.20 Billion |
| 2013 | 19.26% | 9.98% | 1.00x | 1.93x | NT$1.56 Billion |
| 2014 | 18.23% | 11.05% | 0.87x | 1.90x | NT$1.66 Billion |
| 2015 | 15.99% | 11.10% | 0.77x | 1.88x | NT$1.30 Billion |
| 2016 | 14.36% | 10.49% | 0.70x | 1.94x | NT$938.38 Million |
| 2017 | 1.71% | 1.08% | 0.75x | 2.13x | NT$-1.59 Billion |
| 2018 | 3.62% | 2.19% | 0.79x | 2.11x | NT$-1.21 Billion |
| 2019 | 5.40% | 3.15% | 0.76x | 2.24x | NT$-864.71 Million |
| 2020 | 5.09% | 3.21% | 0.71x | 2.22x | NT$-938.75 Million |
| 2021 | 4.90% | 2.63% | 0.75x | 2.47x | NT$-955.84 Million |
| 2022 | 1.74% | 0.88% | 0.83x | 2.40x | NT$-1.60 Billion |
| 2023 | 4.50% | 2.56% | 0.79x | 2.23x | NT$-1.08 Billion |
| 2024 | 5.89% | 3.63% | 0.72x | 2.24x | NT$-867.40 Million |
Industry Comparison
This section compares Kenda Rubber Industrial Co Ltd's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $5,598,530,700
- Average return on equity (ROE) among peers: 7.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kenda Rubber Industrial Co Ltd (2106) | NT$18.63 Billion | 3.51% | 1.37x | $518.95 Million |
| Tong Yang Industry Co Ltd (1319) | $25.91 Billion | 11.65% | 0.35x | $1.39 Billion |
| Taihan Precision Technology Co Ltd (1336) | $1.63 Billion | 11.82% | 0.50x | $33.99 Million |
| Hiroca Holdings Ltd (1338) | $6.63 Billion | 11.43% | 0.41x | $41.60 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $1.56 Billion | 10.81% | 0.72x | $95.75 Million |
| Right Way Industrial Co Ltd (1506) | $1.12 Billion | 0.13% | 1.31x | $102.21 Million |
| Jui Li Enterprise Co Ltd (1512) | $1.84 Billion | -12.89% | 2.17x | $23.14 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.90 Billion | 18.96% | 0.91x | $59.68 Million |
| TYC Brother Industrial Co Ltd (1522) | $9.17 Billion | 10.17% | 1.84x | $304.19 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.11 Billion | 10.49% | 1.30x | $146.61 Million |
| Kian Shen Corp (1525) | $4.11 Billion | 7.06% | 0.23x | $146.38 Million |
About Kenda Rubber Industrial Co Ltd
Kenda Rubber Industrial Co. Ltd. designs, manufactures, and trades in tires in China, the United States, Taiwan, and Vietnam. The company provides automotive, bicycle, powersports, wheelchair, and turf/trailer/specialty. It offers inner tubes and tires for bicycles, scooters, industrial trucks, and cars, as well as various products of carbon fiber. In addition, the company engages in trading and … Read more