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$19.56 Billion TWD (≈ $616.22 Million 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$45.49 Billion ≈ $1.43 Billion USD) and total liabilities (NT$25.93 Billion ≈ $817.07 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 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$19.56 Billion |
| % of Total Assets | 42.99% |
| Annual Growth Rate | 6.39% |
| 5-Year Change | 4.38% |
| 10-Year Change | -9.2% |
| Growth Volatility | 9.17 |
Kenda Rubber Industrial Co Ltd - Net Assets Trend (2000–2025)
This chart illustrates how Kenda Rubber Industrial Co Ltd's net assets have evolved over time, based on quarterly financial data. See Kenda Rubber Industrial Co Ltd (2106) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Kenda Rubber Industrial Co Ltd (2000–2025)
The table below shows the annual net assets of Kenda Rubber Industrial Co Ltd from 2000 to 2025. For live valuation and market cap data, see market cap of Kenda Rubber Industrial Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$19.56 Billion ≈ $616.22 Million |
-7.23% |
| 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 2454.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$6.17 Billion | 31.56% |
| Common Stock | NT$9.55 Billion | 48.82% |
| Other Comprehensive Income | NT$3.84 Billion | 19.62% |
| Total Equity | NT$19.56 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 |
|---|---|
|
Matas A/S
CO:MATAS
|
$543.05 Million |
|
Cineplex Inc.
TO:CGX
|
$543.12 Million |
|
Xiamen Red Phase Instruments Inc
SHE:300427
|
$543.21 Million |
|
Industrial Logistics Properties Trust
NASDAQ:ILPT
|
$543.32 Million |
|
Ningbo Daye Garden Machinery Co Ltd
SHE:300879
|
$542.89 Million |
|
Sam-A Aluminiu
KO:006110
|
$542.37 Million |
|
Satrec Initiative Co. Ltd
KQ:099320
|
$542.33 Million |
|
DEE Development Eng Ltd
NSE:DEEDEV
|
$542.28 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 2024 to 2025, total equity changed from 21,083,563,000 to 19,558,990,000, a change of -1,524,573,000 (-7.2%).
- Net income of 125,407,000 contributed positively to equity growth.
- Dividend payments of 1,050,378,999 reduced retained earnings.
- Other comprehensive income decreased equity by 880,364,000.
- Other factors increased equity by 280,762,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$125.41 Million | +0.64% |
| Dividends Paid | NT$1.05 Billion | -5.37% |
| Other Comprehensive Income | NT$-880.36 Million | -4.5% |
| Other Changes | NT$280.76 Million | +1.44% |
| Total Change | NT$- | -7.23% |
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: 0.89x
- 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 2.57x to 0.89x 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$18.05 | x |
| 2007-12-31 | NT$8.04 | NT$18.05 | x |
| 2008-12-31 | NT$8.58 | NT$18.05 | x |
| 2009-12-31 | NT$12.11 | NT$18.05 | x |
| 2010-12-31 | NT$10.86 | NT$18.05 | x |
| 2011-12-31 | NT$13.85 | NT$18.05 | x |
| 2012-12-31 | NT$15.07 | NT$18.05 | x |
| 2013-12-31 | NT$17.60 | NT$18.05 | x |
| 2014-12-31 | NT$21.11 | NT$18.05 | x |
| 2015-12-31 | NT$22.69 | NT$18.05 | x |
| 2016-12-31 | NT$22.55 | NT$18.05 | x |
| 2017-12-31 | NT$20.10 | NT$18.05 | x |
| 2018-12-31 | NT$19.91 | NT$18.05 | x |
| 2019-12-31 | NT$19.66 | NT$18.05 | x |
| 2020-12-31 | NT$20.00 | NT$18.05 | x |
| 2021-12-31 | NT$19.61 | NT$18.05 | x |
| 2022-12-31 | NT$20.29 | NT$18.05 | x |
| 2023-12-31 | NT$20.49 | NT$18.05 | x |
| 2024-12-31 | NT$22.07 | NT$18.05 | x |
| 2025-12-31 | NT$20.28 | NT$18.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kenda Rubber Industrial Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.64%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.37%
- • Asset Turnover: 0.75x
- • Equity Multiplier: 2.33x
- Recent ROE (0.64%) is below the historical average (9.55%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 3.51% | 2.48% | 0.65x | 2.19x | NT$-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$-867.40 Million |
| 2025 | 0.64% | 0.37% | 0.75x | 2.33x | NT$-1.83 Billion |
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: $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 |
|---|---|---|---|---|
| Kenda Rubber Industrial Co Ltd (2106) | NT$19.56 Billion | 3.51% | 1.33x | $543.02 Million |
| 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 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 acti… Read more