Hwa Fong Rubber Ind Co Ltd
Hwa Fong Rubber Industrial Co., Ltd., together with its subsidiaries, manufacture, process, sells, imports, and exports rubber and plastic products in Taiwan, China, the United States, Thailand, and internationally. The company offers tires and tubes for bicycles, trucks, and buses; motorcycles, scooters, and mopeds; all-terrain vehicles; passenger cars, sport utility vehicles, pick-ups, light tr… Read more
Hwa Fong Rubber Ind Co Ltd (2109) - Net Assets
Latest net assets as of September 2025: NT$4.91 Billion TWD
Based on the latest financial reports, Hwa Fong Rubber Ind Co Ltd (2109) has net assets worth NT$4.91 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$7.79 Billion) and total liabilities (NT$2.87 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$4.91 Billion |
| % of Total Assets | 63.1% |
| Annual Growth Rate | 2.25% |
| 5-Year Change | 16.06% |
| 10-Year Change | 3.53% |
| Growth Volatility | 10.21 |
Hwa Fong Rubber Ind Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Hwa Fong 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 Hwa Fong Rubber Ind Co Ltd (2002–2024)
The table below shows the annual net assets of Hwa Fong Rubber Ind Co Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$5.25 Billion | +4.39% |
| 2023-12-31 | NT$5.03 Billion | +5.26% |
| 2022-12-31 | NT$4.78 Billion | +6.86% |
| 2021-12-31 | NT$4.47 Billion | -1.16% |
| 2020-12-31 | NT$4.52 Billion | +8.24% |
| 2019-12-31 | NT$4.18 Billion | +5.50% |
| 2018-12-31 | NT$3.96 Billion | -1.86% |
| 2017-12-31 | NT$4.04 Billion | -20.63% |
| 2016-12-31 | NT$5.09 Billion | +0.29% |
| 2015-12-31 | NT$5.07 Billion | -4.49% |
| 2014-12-31 | NT$5.31 Billion | +15.79% |
| 2013-12-31 | NT$4.59 Billion | +30.14% |
| 2012-12-31 | NT$3.52 Billion | +2.19% |
| 2011-12-31 | NT$3.45 Billion | -19.09% |
| 2010-12-31 | NT$4.26 Billion | -3.32% |
| 2009-12-31 | NT$4.41 Billion | +2.22% |
| 2008-12-31 | NT$4.31 Billion | +2.51% |
| 2007-12-31 | NT$4.21 Billion | +3.05% |
| 2006-12-31 | NT$4.08 Billion | -1.83% |
| 2005-12-31 | NT$4.16 Billion | +11.30% |
| 2004-12-31 | NT$3.74 Billion | +9.87% |
| 2003-12-31 | NT$3.40 Billion | +5.62% |
| 2002-12-31 | NT$3.22 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hwa Fong 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 155.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$619.40 Million | 17.74% |
| Common Stock | NT$2.79 Billion | 79.99% |
| Other Comprehensive Income | NT$42.12 Million | 1.21% |
| Other Components | NT$37.17 Million | 1.06% |
| Total Equity | NT$3.49 Billion | 100.00% |
Hwa Fong Rubber Ind Co Ltd Competitors by Market Cap
The table below lists competitors of Hwa Fong Rubber Ind Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kernel Holding S.A
PINK:KARNF
|
$76.01 Million |
|
Gajah Tunggal Tbk
JK:GJTL
|
$76.02 Million |
|
Monument Mining Limited
PINK:MMTMF
|
$76.06 Million |
|
Cica-Huntek Chemical Technology Taiwan Co., Ltd.
TWO:6725
|
$76.07 Million |
|
Softstar Entertainment
TWO:6111
|
$75.96 Million |
|
HI Mobility Berhad
KLSE:5335
|
$75.96 Million |
|
7738
TWO:7738
|
$75.94 Million |
|
Orient Cement Limited
NSE:ORIENTCEM
|
$75.92 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hwa Fong Rubber Ind Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,449,531,000 to 3,492,180,000, a change of 42,649,000 (1.2%).
- Net income of 449,980,000 contributed positively to equity growth.
- Dividend payments of 595,437,000 reduced retained earnings.
- Other comprehensive income increased equity by 12,324,999.
- Other factors increased equity by 175,781,001.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$449.98 Million | +12.89% |
| Dividends Paid | NT$595.44 Million | -17.05% |
| Other Comprehensive Income | NT$12.32 Million | +0.35% |
| Other Changes | NT$175.78 Million | +5.03% |
| Total Change | NT$- | 1.24% |
Book Value vs Market Value Analysis
This analysis compares Hwa Fong 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: 1.18x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.76x to 1.18x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$19.30 | NT$14.65 | x |
| 2010-12-31 | NT$16.87 | NT$14.65 | x |
| 2011-12-31 | NT$13.18 | NT$14.65 | x |
| 2012-12-31 | NT$13.88 | NT$14.65 | x |
| 2013-12-31 | NT$14.76 | NT$14.65 | x |
| 2014-12-31 | NT$15.09 | NT$14.65 | x |
| 2015-12-31 | NT$14.35 | NT$14.65 | x |
| 2016-12-31 | NT$14.15 | NT$14.65 | x |
| 2017-12-31 | NT$10.13 | NT$14.65 | x |
| 2018-12-31 | NT$9.54 | NT$14.65 | x |
| 2019-12-31 | NT$9.80 | NT$14.65 | x |
| 2020-12-31 | NT$10.79 | NT$14.65 | x |
| 2021-12-31 | NT$10.87 | NT$14.65 | x |
| 2022-12-31 | NT$11.46 | NT$14.65 | x |
| 2023-12-31 | NT$12.30 | NT$14.65 | x |
| 2024-12-31 | NT$12.46 | NT$14.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hwa Fong Rubber Ind Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.89%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.11%
- • Asset Turnover: 0.60x
- • Equity Multiplier: 2.37x
- Recent ROE (12.89%) is above the historical average (3.98%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 5.59% | 3.67% | 0.78x | 1.94x | NT$-142.02 Million |
| 2003 | 6.72% | 4.00% | 0.75x | 2.23x | NT$-111.64 Million |
| 2004 | 4.25% | 2.71% | 0.70x | 2.23x | NT$-214.94 Million |
| 2007 | 1.17% | 0.62% | 0.74x | 2.53x | NT$-350.37 Million |
| 2009 | 3.78% | 2.23% | 0.74x | 2.28x | NT$-259.38 Million |
| 2010 | -4.51% | -2.07% | 0.86x | 2.54x | NT$-528.75 Million |
| 2011 | -0.07% | -0.03% | 0.86x | 2.95x | NT$-286.82 Million |
| 2012 | -5.25% | -2.00% | 0.94x | 2.77x | NT$-431.08 Million |
| 2013 | 8.66% | 4.36% | 0.85x | 2.35x | NT$-50.52 Million |
| 2014 | 18.18% | 11.53% | 0.75x | 2.10x | NT$355.92 Million |
| 2015 | 2.60% | 1.62% | 0.76x | 2.10x | NT$-298.61 Million |
| 2016 | 1.08% | 0.71% | 0.73x | 2.08x | NT$-353.57 Million |
| 2017 | -34.51% | -17.00% | 0.79x | 2.59x | NT$-1.26 Billion |
| 2018 | -9.51% | -4.82% | 0.74x | 2.67x | NT$-520.00 Million |
| 2019 | 5.42% | 2.82% | 0.71x | 2.71x | NT$-125.35 Million |
| 2020 | 18.64% | 11.51% | 0.61x | 2.67x | NT$260.40 Million |
| 2021 | 18.37% | 10.09% | 0.67x | 2.73x | NT$254.69 Million |
| 2022 | 13.83% | 8.21% | 0.67x | 2.51x | NT$123.14 Million |
| 2023 | 12.24% | 9.04% | 0.59x | 2.30x | NT$77.39 Million |
| 2024 | 12.89% | 9.11% | 0.60x | 2.37x | NT$100.76 Million |
Industry Comparison
This section compares Hwa Fong 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: $3,378,678,100
- Average return on equity (ROE) among peers: 7.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hwa Fong Rubber Ind Co Ltd (2109) | NT$4.91 Billion | 5.59% | 0.58x | $75.99 Million |
| Tong Yang Industry Co Ltd (1319) | $4.72 Billion | 11.96% | 1.23x | $989.33 Million |
| Taihan Precision Technology Co Ltd (1336) | $1.67 Billion | 4.39% | 0.41x | $21.03 Million |
| Hiroca Holdings Ltd (1338) | $6.57 Billion | 4.49% | 0.58x | $24.43 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $3.59 Billion | 3.28% | 0.48x | $26.04 Million |
| Right Way Industrial Co Ltd (1506) | $1.36 Billion | 0.96% | 0.75x | $44.66 Million |
| Jui Li Enterprise Co Ltd (1512) | $2.13 Billion | 8.09% | 1.04x | $15.14 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.85 Billion | 26.83% | 0.96x | $18.17 Million |
| TYC Brother Industrial Co Ltd (1522) | $5.81 Billion | 1.09% | 2.29x | $157.29 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.20 Billion | 1.66% | 1.28x | $91.44 Million |
| Kian Shen Corp (1525) | $3.89 Billion | 13.91% | 0.23x | $31.21 Million |