Turvo International Co Ltd (2233) - Net Assets
Based on the latest financial reports, Turvo International Co Ltd (2233) has net assets worth NT$4.01 Billion TWD (≈ $126.48 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$7.12 Billion ≈ $224.36 Million USD) and total liabilities (NT$3.11 Billion ≈ $97.87 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 Turvo International Co Ltd (2233) tangible net worth to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$4.01 Billion |
| % of Total Assets | 56.38% |
| Annual Growth Rate | 18.54% |
| 5-Year Change | 26.35% |
| 10-Year Change | 74.05% |
| Growth Volatility | 39.0 |
Turvo International Co Ltd - Net Assets Trend (2009–2025)
This chart illustrates how Turvo International Co Ltd's net assets have evolved over time, based on quarterly financial data. See Turvo International Co Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Turvo International Co Ltd (2009–2025)
The table below shows the annual net assets of Turvo International Co Ltd from 2009 to 2025. For live valuation and market cap data, see Turvo International Co Ltd (2233) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.97 Billion ≈ $124.92 Million |
-2.22% |
| 2024-12-31 | NT$4.06 Billion ≈ $127.76 Million |
+13.16% |
| 2023-12-31 | NT$3.58 Billion ≈ $112.90 Million |
+3.93% |
| 2022-12-31 | NT$3.45 Billion ≈ $108.63 Million |
+9.87% |
| 2021-12-31 | NT$3.14 Billion ≈ $98.87 Million |
+10.52% |
| 2020-12-31 | NT$2.84 Billion ≈ $89.46 Million |
+6.32% |
| 2019-12-31 | NT$2.67 Billion ≈ $84.14 Million |
-0.18% |
| 2018-12-31 | NT$2.68 Billion ≈ $84.29 Million |
+10.98% |
| 2017-12-31 | NT$2.41 Billion ≈ $75.95 Million |
+5.81% |
| 2016-12-31 | NT$2.28 Billion ≈ $71.77 Million |
+3.94% |
| 2015-12-31 | NT$2.19 Billion ≈ $69.05 Million |
-0.05% |
| 2014-12-31 | NT$2.19 Billion ≈ $69.09 Million |
+67.94% |
| 2013-12-31 | NT$1.31 Billion ≈ $41.14 Million |
+21.97% |
| 2012-12-31 | NT$1.07 Billion ≈ $33.73 Million |
+1.62% |
| 2011-12-31 | NT$1.05 Billion ≈ $33.19 Million |
+59.60% |
| 2010-12-31 | NT$660.02 Million ≈ $20.79 Million |
+153.16% |
| 2009-12-31 | NT$260.71 Million ≈ $8.21 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Turvo International 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 2875.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.04 Billion | 51.59% |
| Common Stock | NT$602.88 Million | 15.22% |
| Other Comprehensive Income | NT$523.25 Million | 13.21% |
| Other Components | NT$791.09 Million | 19.97% |
| Total Equity | NT$3.96 Billion | 100.00% |
Turvo International Co Ltd Competitors by Market Cap
The table below lists competitors of Turvo International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vibhavadi Medical Center Public Company Limited
BK:VIBHA
|
$575.82 Million |
|
Thor Explorations Ltd.
V:THX
|
$576.22 Million |
|
Polimex-Mostostal S.A.
WAR:PXM
|
$576.31 Million |
|
Sebang Global Battery Co Ltd
KO:004490
|
$576.32 Million |
|
Ovzon AB
ST:OVZON
|
$575.40 Million |
|
Beijing Tongyizhong New Material Technology Corp
SHG:688722
|
$575.33 Million |
|
Oeneo SA
PA:SBT
|
$575.32 Million |
|
Shenzhen Properties & Resources Development Group Ltd
SHE:000011
|
$575.24 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Turvo International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,047,148,000 to 3,960,744,000, a change of -86,404,000 (-2.1%).
- Net income of 403,761,000 contributed positively to equity growth.
- Dividend payments of 422,017,000 reduced retained earnings.
- Other comprehensive income decreased equity by 134,502,999.
- Other factors increased equity by 66,354,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$403.76 Million | +10.19% |
| Dividends Paid | NT$422.02 Million | -10.65% |
| Other Comprehensive Income | NT$-134.50 Million | -3.4% |
| Other Changes | NT$66.35 Million | +1.68% |
| Total Change | NT$- | -2.13% |
Book Value vs Market Value Analysis
This analysis compares Turvo International 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: 4.57x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 54.00x to 4.57x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$5.61 | NT$303.00 | x |
| 2010-12-31 | NT$14.87 | NT$303.00 | x |
| 2011-12-31 | NT$21.88 | NT$303.00 | x |
| 2012-12-31 | NT$20.42 | NT$303.00 | x |
| 2013-12-31 | NT$25.72 | NT$303.00 | x |
| 2014-12-31 | NT$40.26 | NT$303.00 | x |
| 2015-12-31 | NT$36.11 | NT$303.00 | x |
| 2016-12-31 | NT$37.61 | NT$303.00 | x |
| 2017-12-31 | NT$39.78 | NT$303.00 | x |
| 2018-12-31 | NT$43.10 | NT$303.00 | x |
| 2019-12-31 | NT$43.27 | NT$303.00 | x |
| 2020-12-31 | NT$46.39 | NT$303.00 | x |
| 2021-12-31 | NT$51.54 | NT$303.00 | x |
| 2022-12-31 | NT$56.70 | NT$303.00 | x |
| 2023-12-31 | NT$59.07 | NT$303.00 | x |
| 2024-12-31 | NT$66.99 | NT$303.00 | x |
| 2025-12-31 | NT$66.35 | NT$303.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Turvo International 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): 10.19%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.33%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 1.67x
- Recent ROE (10.19%) is below the historical average (16.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 26.25% | 13.29% | 0.98x | 2.02x | NT$42.37 Million |
| 2010 | 26.07% | 20.25% | 0.80x | 1.60x | NT$106.07 Million |
| 2011 | 17.80% | 16.93% | 0.71x | 1.49x | NT$82.17 Million |
| 2012 | 17.39% | 13.58% | 0.89x | 1.44x | NT$79.15 Million |
| 2013 | 21.90% | 15.88% | 0.89x | 1.54x | NT$155.33 Million |
| 2014 | 12.69% | 14.02% | 0.73x | 1.25x | NT$58.62 Million |
| 2015 | 11.40% | 12.67% | 0.71x | 1.27x | NT$30.59 Million |
| 2016 | 15.00% | 15.99% | 0.66x | 1.42x | NT$113.95 Million |
| 2017 | 16.43% | 16.58% | 0.71x | 1.40x | NT$155.09 Million |
| 2018 | 16.26% | 16.64% | 0.70x | 1.39x | NT$163.38 Million |
| 2019 | 11.69% | 12.97% | 0.61x | 1.48x | NT$44.14 Million |
| 2020 | 13.40% | 14.78% | 0.59x | 1.53x | NT$95.08 Million |
| 2021 | 17.42% | 16.79% | 0.66x | 1.58x | NT$231.12 Million |
| 2022 | 18.12% | 18.58% | 0.67x | 1.45x | NT$278.97 Million |
| 2023 | 14.94% | 16.00% | 0.65x | 1.45x | NT$176.64 Million |
| 2024 | 16.33% | 18.07% | 0.60x | 1.50x | NT$256.31 Million |
| 2025 | 10.19% | 12.33% | 0.49x | 1.67x | NT$7.69 Million |
Industry Comparison
This section compares Turvo International Co Ltd's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $8,475,870,800
- Average return on equity (ROE) among peers: 8.42%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Turvo International Co Ltd (2233) | NT$4.01 Billion | 26.25% | 0.77x | $575.52 Million |
| TECO Electric & Machinery Co Ltd (1504) | $38.74 Billion | 7.18% | 0.82x | $5.07 Billion |
| Chung-Hsin Electric & Machinery Mfg Corp (1513) | $13.37 Billion | 18.21% | 2.12x | $2.68 Billion |
| Anderson Industrial Corp (1528) | $1.60 Billion | 1.06% | 1.03x | $152.81 Million |
| Awea Mechantronic Co Ltd (1530) | $3.13 Billion | 10.64% | 1.48x | $91.05 Million |
| Kaulin Mfg (1531) | $3.64 Billion | 0.82% | 0.20x | $74.30 Million |
| Chiu Ting Machinery Co Ltd (1539) | $793.16 Million | 0.00% | 1.10x | $32.44 Million |
| Roundtop Machinery Industries Co Ltd (1540) | $1.29 Billion | -0.28% | 0.18x | $59.38 Million |
| Sinmag Equipment (1580) | $3.37 Billion | 18.47% | 0.35x | $192.75 Million |
| Goodway Machine Corp (1583) | $8.41 Billion | 14.92% | 0.77x | $174.40 Million |
| Airtac International Group (1590) | $10.41 Billion | 13.14% | 1.06x | $8.32 Billion |
About Turvo International Co Ltd
TURVO International Co., Ltd. engages in the development, production, and sale of precision metal parts and components. Its products are used in connector, sensor, industrial automation, medical equipment components, temperature control equipment, bicycle components, automotive engine, steering, drivetrain, chassis, and security systems. The company operates in China, Germany, Turkey, Taiwan, and… Read more