Cub Elecparts Inc
Cub Elecparts Inc. manufactures and supplies automobile electrical and electronic parts in Taiwan, China, the United States, Germany, and internationally. It offers advanced driver assistance systems; aftermarket service parts, including sensors and other parts; switches, such as ignition, turn signal, power window, and head light switch; OEM products; and tire pressure monitoring sensors. The co… Read more
Cub Elecparts Inc (2231) - Net Assets
Latest net assets as of September 2025: NT$4.67 Billion TWD
Based on the latest financial reports, Cub Elecparts Inc (2231) has net assets worth NT$4.67 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$11.12 Billion) and total liabilities (NT$6.45 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$4.67 Billion |
| % of Total Assets | 42.01% |
| Annual Growth Rate | 15.47% |
| 5-Year Change | 57.36% |
| 10-Year Change | 121.35% |
| Growth Volatility | 15.0 |
Cub Elecparts Inc - Net Assets Trend (2005–2024)
This chart illustrates how Cub Elecparts 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 Cub Elecparts Inc (2005–2024)
The table below shows the annual net assets of Cub Elecparts Inc from 2005 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$5.62 Billion | +7.25% |
| 2023-12-31 | NT$5.24 Billion | +1.34% |
| 2022-12-31 | NT$5.17 Billion | +10.86% |
| 2021-12-31 | NT$4.66 Billion | +30.61% |
| 2020-12-31 | NT$3.57 Billion | -21.22% |
| 2019-12-31 | NT$4.53 Billion | +13.23% |
| 2018-12-31 | NT$4.00 Billion | +11.51% |
| 2017-12-31 | NT$3.59 Billion | +10.64% |
| 2016-12-31 | NT$3.24 Billion | +27.81% |
| 2015-12-31 | NT$2.54 Billion | +27.38% |
| 2014-12-31 | NT$1.99 Billion | +40.38% |
| 2013-12-31 | NT$1.42 Billion | +15.33% |
| 2012-12-31 | NT$1.23 Billion | +13.54% |
| 2011-12-31 | NT$1.08 Billion | -5.02% |
| 2010-12-31 | NT$1.14 Billion | +27.58% |
| 2009-12-31 | NT$894.19 Million | +28.67% |
| 2008-12-31 | NT$694.93 Million | +8.38% |
| 2007-12-31 | NT$641.19 Million | +26.14% |
| 2006-12-31 | NT$508.30 Million | +39.24% |
| 2005-12-31 | NT$365.05 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cub Elecparts 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 1488.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.48 Billion | 57.75% |
| Common Stock | NT$1.41 Billion | 32.81% |
| Other Comprehensive Income | NT$-7.49 Million | -0.17% |
| Other Components | NT$413.40 Million | 9.62% |
| Total Equity | NT$4.30 Billion | 100.00% |
Cub Elecparts Inc Competitors by Market Cap
The table below lists competitors of Cub Elecparts Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PT Tower Bersama Infrastructure TBK
PINK:PTFRF
|
$161.34 Million |
|
Vertical Aerospace Ltd
NYSE:EVTL
|
$161.36 Million |
|
Starrag Group Holding AG
SW:STGN
|
$161.41 Million |
|
PharmaEngine
TWO:4162
|
$161.48 Million |
|
The Erawan Group Public Company Limited
BK:ERW
|
$161.27 Million |
|
European Wax Center Inc
NASDAQ:EWCZ
|
$161.26 Million |
|
Dasheng Times Cultural Investment Co Ltd
SHG:600892
|
$161.20 Million |
|
Qinghaihuading Industrial Co Ltd
SHG:600243
|
$161.19 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cub Elecparts Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,210,097,000 to 4,295,590,000, a change of 85,493,000 (2.0%).
- Net income of 474,882,000 contributed positively to equity growth.
- Dividend payments of 437,300,000 reduced retained earnings.
- New share issuances of 236,282,000 increased equity.
- Other comprehensive income increased equity by 38,377,001.
- Other factors decreased equity by 226,748,001.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$474.88 Million | +11.06% |
| Dividends Paid | NT$437.30 Million | -10.18% |
| Share Issuances | NT$236.28 Million | +5.5% |
| Other Comprehensive Income | NT$38.38 Million | +0.89% |
| Other Changes | NT$-226.75 Million | -5.28% |
| Total Change | NT$- | 2.03% |
Book Value vs Market Value Analysis
This analysis compares Cub Elecparts 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: 2.85x
- 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 26.77x to 2.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | NT$3.03 | NT$81.20 | x |
| 2006-12-31 | NT$4.22 | NT$81.20 | x |
| 2007-12-31 | NT$5.21 | NT$81.20 | x |
| 2008-12-31 | NT$5.60 | NT$81.20 | x |
| 2009-12-31 | NT$8.24 | NT$81.20 | x |
| 2010-12-31 | NT$8.38 | NT$81.20 | x |
| 2011-12-31 | NT$7.78 | NT$81.20 | x |
| 2012-12-31 | NT$8.86 | NT$81.20 | x |
| 2013-12-31 | NT$10.10 | NT$81.20 | x |
| 2014-12-31 | NT$13.88 | NT$81.20 | x |
| 2015-12-31 | NT$17.70 | NT$81.20 | x |
| 2016-12-31 | NT$19.83 | NT$81.20 | x |
| 2017-12-31 | NT$21.26 | NT$81.20 | x |
| 2018-12-31 | NT$24.40 | NT$81.20 | x |
| 2019-12-31 | NT$28.41 | NT$81.20 | x |
| 2020-12-31 | NT$21.95 | NT$81.20 | x |
| 2021-12-31 | NT$25.02 | NT$81.20 | x |
| 2022-12-31 | NT$29.81 | NT$81.20 | x |
| 2023-12-31 | NT$28.00 | NT$81.20 | x |
| 2024-12-31 | NT$28.46 | NT$81.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cub Elecparts 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): 11.06%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.17%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 2.75x
- Recent ROE (11.06%) is below the historical average (24.49%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 41.41% | 22.38% | 0.87x | 2.12x | NT$114.66 Million |
| 2006 | 29.27% | 21.89% | 0.71x | 1.89x | NT$97.96 Million |
| 2007 | 21.64% | 17.32% | 0.69x | 1.81x | NT$74.66 Million |
| 2008 | 19.10% | 15.72% | 0.68x | 1.79x | NT$63.25 Million |
| 2009 | 23.89% | 21.39% | 0.73x | 1.52x | NT$124.17 Million |
| 2010 | 26.31% | 24.17% | 0.86x | 1.26x | NT$186.01 Million |
| 2011 | 12.47% | 12.06% | 0.74x | 1.40x | NT$25.97 Million |
| 2012 | 20.78% | 18.60% | 0.88x | 1.26x | NT$129.12 Million |
| 2013 | 26.24% | 24.27% | 0.75x | 1.44x | NT$225.20 Million |
| 2014 | 38.03% | 34.58% | 0.88x | 1.25x | NT$549.28 Million |
| 2015 | 44.72% | 39.70% | 0.84x | 1.33x | NT$869.78 Million |
| 2016 | 38.91% | 32.66% | 0.53x | 2.24x | NT$829.08 Million |
| 2017 | 32.93% | 28.74% | 0.54x | 2.13x | NT$704.53 Million |
| 2018 | 30.77% | 27.04% | 0.60x | 1.90x | NT$734.35 Million |
| 2019 | 23.77% | 23.88% | 0.57x | 1.75x | NT$566.37 Million |
| 2020 | 8.00% | 7.32% | 0.44x | 2.46x | NT$-61.14 Million |
| 2021 | 14.63% | 12.64% | 0.43x | 2.71x | NT$163.35 Million |
| 2022 | 15.38% | 15.91% | 0.41x | 2.37x | NT$220.18 Million |
| 2023 | 10.54% | 10.09% | 0.43x | 2.44x | NT$22.78 Million |
| 2024 | 11.06% | 10.17% | 0.40x | 2.75x | NT$45.32 Million |
Industry Comparison
This section compares Cub Elecparts Inc's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $4,045,310,500
- Average return on equity (ROE) among peers: -15.85%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cub Elecparts Inc (2231) | NT$4.67 Billion | 41.41% | 1.38x | $161.28 Million |
| Tong Yang Industry Co Ltd (1319) | $15.19 Billion | 7.81% | 0.84x | $989.33 Million |
| Taihan Precision Technology Co Ltd (1336) | $1.60 Billion | 6.32% | 0.51x | $21.32 Million |
| Hiroca Holdings Ltd (1338) | $6.57 Billion | 4.49% | 0.58x | $25.70 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $3.59 Billion | 3.28% | 0.48x | $26.01 Million |
| Right Way Industrial Co Ltd (1506) | $1.32 Billion | 0.00% | 1.41x | $45.05 Million |
| Jui Li Enterprise Co Ltd (1512) | $75.41 Million | -204.20% | 22.29x | $15.44 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.26 Billion | 4.47% | 0.94x | $18.35 Million |
| TYC Brother Industrial Co Ltd (1522) | $4.32 Billion | 1.93% | 2.05x | $174.92 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.11 Billion | 10.49% | 1.30x | $89.90 Million |
| Kian Shen Corp (1525) | $4.44 Billion | 6.91% | 0.20x | $31.87 Million |