Formosan Rubber Group Inc
Formosan Rubber Group Inc., together with its subsidiaries, manufactures and sells rubber and plastic sheets, plastic foam, resin sheets, and related materials. The company offers manufacturing and selling products including plastic raincoat material, clip fabric, air beds, polyvinyl chloride rubber, automotive parts, rubber boat material, rubber tape, rubber foam bag fabric, rubber air beds, rub… Read more
Formosan Rubber Group Inc (2107) - Net Assets
Latest net assets as of September 2025: NT$13.02 Billion TWD
Based on the latest financial reports, Formosan Rubber Group Inc (2107) has net assets worth NT$13.02 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$15.01 Billion) and total liabilities (NT$2.00 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$13.02 Billion |
| % of Total Assets | 86.7% |
| Annual Growth Rate | 4.1% |
| 5-Year Change | 17.52% |
| 10-Year Change | 9.81% |
| Growth Volatility | 8.41 |
Formosan Rubber Group Inc - Net Assets Trend (2002–2024)
This chart illustrates how Formosan Rubber Group Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Formosan Rubber Group Inc (2002–2024)
The table below shows the annual net assets of Formosan Rubber Group Inc from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$13.14 Billion | +5.96% |
| 2023-12-31 | NT$12.40 Billion | +4.55% |
| 2022-12-31 | NT$11.86 Billion | -0.63% |
| 2021-12-31 | NT$11.94 Billion | +6.76% |
| 2020-12-31 | NT$11.18 Billion | +3.49% |
| 2019-12-31 | NT$10.81 Billion | +4.31% |
| 2018-12-31 | NT$10.36 Billion | -4.41% |
| 2017-12-31 | NT$10.84 Billion | -3.09% |
| 2016-12-31 | NT$11.18 Billion | -6.56% |
| 2015-12-31 | NT$11.97 Billion | -7.48% |
| 2014-12-31 | NT$12.93 Billion | +20.93% |
| 2013-12-31 | NT$10.70 Billion | +10.38% |
| 2012-12-31 | NT$9.69 Billion | +8.61% |
| 2011-12-31 | NT$8.92 Billion | -7.39% |
| 2010-12-31 | NT$9.63 Billion | +12.48% |
| 2009-12-31 | NT$8.56 Billion | +18.77% |
| 2008-12-31 | NT$7.21 Billion | -1.93% |
| 2007-12-31 | NT$7.35 Billion | -0.34% |
| 2006-12-31 | NT$7.38 Billion | +19.63% |
| 2005-12-31 | NT$6.17 Billion | +12.49% |
| 2004-12-31 | NT$5.48 Billion | +0.09% |
| 2003-12-31 | NT$5.48 Billion | +0.88% |
| 2002-12-31 | NT$5.43 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Formosan Rubber Group Inc'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 2642.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$6.36 Billion | 48.38% |
| Common Stock | NT$3.04 Billion | 23.10% |
| Other Comprehensive Income | NT$3.74 Billion | 28.48% |
| Other Components | NT$4.37 Million | 0.03% |
| Total Equity | NT$13.14 Billion | 100.00% |
Formosan Rubber Group Inc Competitors by Market Cap
The table below lists competitors of Formosan Rubber Group Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Malaysian Resources Corporation
KLSE:1651
|
$138.84 Million |
|
Yingkou Fengguang Advanced Material Co.Ltd.
SHE:301100
|
$138.88 Million |
|
Cibus Global LLC
NASDAQ:CBUS
|
$138.92 Million |
|
Rosenbauer International AG
VI:ROS
|
$138.96 Million |
|
China Aerospace International Holdings Limited
PINK:CHAEF
|
$138.80 Million |
|
Dune Acquisition Corporation II Class A Ordinary Shares
NASDAQ:IPOD
|
$138.78 Million |
|
Beijing Jiaoda Signal Technology
SHE:300851
|
$138.78 Million |
|
Kencoa Aerospace Corporation
KQ:274090
|
$138.76 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Formosan Rubber Group Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 12,402,272,000 to 13,140,955,000, a change of 738,683,000 (6.0%).
- Net income of 573,460,000 contributed positively to equity growth.
- Dividend payments of 394,672,000 reduced retained earnings.
- Other comprehensive income increased equity by 2,809,440,000.
- Other factors decreased equity by 2,249,545,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$573.46 Million | +4.36% |
| Dividends Paid | NT$394.67 Million | -3.0% |
| Other Comprehensive Income | NT$2.81 Billion | +21.38% |
| Other Changes | NT$-2.25 Billion | -17.12% |
| Total Change | NT$- | 5.96% |
Book Value vs Market Value Analysis
This analysis compares Formosan Rubber Group Inc'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: 0.58x
- 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 1.58x to 0.58x 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$15.87 | NT$25.10 | x |
| 2007-12-31 | NT$15.63 | NT$25.10 | x |
| 2008-12-31 | NT$15.50 | NT$25.10 | x |
| 2009-12-31 | NT$18.90 | NT$25.10 | x |
| 2010-12-31 | NT$21.25 | NT$25.10 | x |
| 2011-12-31 | NT$19.73 | NT$25.10 | x |
| 2012-12-31 | NT$21.65 | NT$25.10 | x |
| 2013-12-31 | NT$23.86 | NT$25.10 | x |
| 2014-12-31 | NT$28.84 | NT$25.10 | x |
| 2015-12-31 | NT$24.14 | NT$25.10 | x |
| 2016-12-31 | NT$24.22 | NT$25.10 | x |
| 2017-12-31 | NT$26.74 | NT$25.10 | x |
| 2018-12-31 | NT$28.21 | NT$25.10 | x |
| 2019-12-31 | NT$34.27 | NT$25.10 | x |
| 2020-12-31 | NT$36.03 | NT$25.10 | x |
| 2021-12-31 | NT$38.70 | NT$25.10 | x |
| 2022-12-31 | NT$38.70 | NT$25.10 | x |
| 2023-12-31 | NT$40.81 | NT$25.10 | x |
| 2024-12-31 | NT$43.24 | NT$25.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Formosan Rubber Group Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 38.71%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 1.15x
- Recent ROE (4.36%) is below the historical average (8.04%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 5.19% | 20.28% | 0.18x | 1.46x | NT$-261.19 Million |
| 2003 | 2.02% | 10.68% | 0.13x | 1.49x | NT$-437.26 Million |
| 2004 | 1.30% | 6.48% | 0.13x | 1.61x | NT$-476.72 Million |
| 2006 | 2.88% | 17.30% | 0.14x | 1.18x | NT$-525.14 Million |
| 2007 | 3.41% | 11.77% | 0.22x | 1.29x | NT$-484.90 Million |
| 2008 | 12.70% | 31.43% | 0.29x | 1.38x | NT$194.97 Million |
| 2009 | 13.07% | 33.36% | 0.25x | 1.57x | NT$263.23 Million |
| 2010 | 17.93% | 39.38% | 0.26x | 1.75x | NT$764.31 Million |
| 2011 | 13.66% | 33.33% | 0.35x | 1.19x | NT$326.57 Million |
| 2012 | 13.90% | 39.35% | 0.29x | 1.24x | NT$378.09 Million |
| 2013 | 18.01% | 46.76% | 0.32x | 1.20x | NT$856.86 Million |
| 2014 | 25.27% | 58.96% | 0.39x | 1.09x | NT$1.98 Billion |
| 2015 | 6.60% | 34.48% | 0.15x | 1.26x | NT$-406.95 Million |
| 2016 | 2.93% | 19.15% | 0.12x | 1.29x | NT$-791.20 Million |
| 2017 | 1.75% | 10.96% | 0.12x | 1.37x | NT$-894.54 Million |
| 2018 | 2.08% | 15.71% | 0.10x | 1.36x | NT$-820.19 Million |
| 2019 | 4.99% | 19.95% | 0.21x | 1.20x | NT$-541.71 Million |
| 2020 | 8.06% | 27.47% | 0.27x | 1.10x | NT$-216.51 Million |
| 2021 | 6.52% | 27.84% | 0.21x | 1.10x | NT$-415.83 Million |
| 2022 | 6.00% | 36.74% | 0.14x | 1.16x | NT$-474.57 Million |
| 2023 | 4.18% | 38.16% | 0.10x | 1.15x | NT$-721.35 Million |
| 2024 | 4.36% | 38.71% | 0.10x | 1.15x | NT$-740.64 Million |
Industry Comparison
This section compares Formosan Rubber Group Inc's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $44,934,559,200
- Average return on equity (ROE) among peers: 11.62%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Formosan Rubber Group Inc (2107) | NT$13.02 Billion | 5.19% | 0.15x | $138.81 Million |
| Formosa Plastics Corp (1301) | $225.33 Billion | 12.22% | 0.47x | $5.82 Billion |
| Nan Ya Plastics Corp (1303) | $142.47 Billion | 14.77% | 1.15x | $13.36 Billion |
| USI Corp (1304) | $29.40 Billion | 10.91% | 0.90x | $220.86 Million |
| China General Plastics Corp (1305) | $4.97 Billion | 0.94% | 1.40x | $160.91 Million |
| Asia Polymer Corp (1308) | $9.82 Billion | 5.76% | 0.52x | $156.91 Million |
| Taita Chemical Co Ltd (1309) | $3.69 Billion | 0.65% | 0.67x | $113.99 Million |
| China Petrochemical Development Corp (1314) | $22.05 Billion | 8.06% | 1.26x | $902.62 Million |
| Ocean Plastics Co Ltd (1321) | $2.93 Billion | 13.39% | 0.47x | $168.69 Million |
| Asia Plastic Recycling Holding Ltd (1337) | $2.63 Billion | 37.56% | 0.24x | $42.00 Million |
| Everlight Chemical Industrial Corp (1711) | $6.07 Billion | 11.90% | 0.51x | $317.86 Million |