Tecom Co Ltd (2321) - Net Assets
Based on the latest financial reports, Tecom Co Ltd (2321) has net assets worth NT$444.16 Million TWD (≈ $13.99 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$1.23 Billion ≈ $38.62 Million USD) and total liabilities (NT$781.71 Million ≈ $24.63 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 2321 financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$444.16 Million |
| % of Total Assets | 36.23% |
| Annual Growth Rate | -9.05% |
| 5-Year Change | -7.18% |
| 10-Year Change | -18.88% |
| Growth Volatility | 17.61 |
Tecom Co Ltd - Net Assets Trend (2002–2025)
This chart illustrates how Tecom Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Tecom Co Ltd for the complete picture of this company's asset base.
Annual Net Assets for Tecom Co Ltd (2002–2025)
The table below shows the annual net assets of Tecom Co Ltd from 2002 to 2025. For live valuation and market cap data, see Tecom Co Ltd market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$444.16 Million ≈ $13.99 Million |
+0.70% |
| 2024-12-31 | NT$441.08 Million ≈ $13.90 Million |
-5.08% |
| 2023-12-31 | NT$464.67 Million ≈ $14.64 Million |
-2.18% |
| 2022-12-31 | NT$475.02 Million ≈ $14.97 Million |
-0.73% |
| 2021-12-31 | NT$478.53 Million ≈ $15.08 Million |
-0.10% |
| 2020-12-31 | NT$479.00 Million ≈ $15.09 Million |
-21.92% |
| 2019-12-31 | NT$613.47 Million ≈ $19.33 Million |
+2.41% |
| 2018-12-31 | NT$599.01 Million ≈ $18.87 Million |
+8.92% |
| 2017-12-31 | NT$549.96 Million ≈ $17.33 Million |
+0.45% |
| 2016-12-31 | NT$547.52 Million ≈ $17.25 Million |
+33.75% |
| 2015-12-31 | NT$409.37 Million ≈ $12.90 Million |
-22.78% |
| 2014-12-31 | NT$530.15 Million ≈ $16.70 Million |
-16.26% |
| 2013-12-31 | NT$633.11 Million ≈ $19.95 Million |
-24.51% |
| 2012-12-31 | NT$838.66 Million ≈ $26.42 Million |
-46.41% |
| 2011-12-31 | NT$1.56 Billion ≈ $49.30 Million |
-42.27% |
| 2010-12-31 | NT$2.71 Billion ≈ $85.40 Million |
-20.78% |
| 2009-12-31 | NT$3.42 Billion ≈ $107.80 Million |
-17.85% |
| 2008-12-31 | NT$4.17 Billion ≈ $131.23 Million |
-5.91% |
| 2007-12-31 | NT$4.43 Billion ≈ $139.47 Million |
-11.08% |
| 2006-12-31 | NT$4.98 Billion ≈ $156.85 Million |
+2.76% |
| 2005-12-31 | NT$4.84 Billion ≈ $152.63 Million |
+17.92% |
| 2004-12-31 | NT$4.11 Billion ≈ $129.43 Million |
+6.03% |
| 2003-12-31 | NT$3.87 Billion ≈ $122.07 Million |
-1.61% |
| 2002-12-31 | NT$3.94 Billion ≈ $124.06 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tecom 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 decreased by 270.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$302.72 Million | 157.12% |
| Other Comprehensive Income | NT$27.11 Million | 14.07% |
| Total Equity | NT$192.66 Million | 100.00% |
Tecom Co Ltd Competitors by Market Cap
The table below lists competitors of Tecom Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MDI Energia S.A.
WAR:MDI
|
$12.46 Million |
|
See Hup Consolidated Bhd
KLSE:7053
|
$12.47 Million |
|
Property Perfect Public Company Limited
BK:PF
|
$12.48 Million |
|
Cerberus Cyber Sentinel Corp
NASDAQ:CISO
|
$12.48 Million |
|
Eurocastle Investment Ltd
AS:ECT
|
$12.46 Million |
|
4Imprint Group Plc
LSE:FOUR
|
$12.45 Million |
|
Agripower France Sa
PA:ALAGP
|
$12.45 Million |
|
NowVertical Group Inc
V:NOW
|
$12.43 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tecom Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 199,296,000 to 192,662,000, a change of -6,634,000 (-3.3%).
- Net loss of 12,251,000 reduced equity.
- New share issuances of 5,481,000 increased equity.
- Other comprehensive income increased equity by 16,085,000.
- Other factors decreased equity by 15,949,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-12.25 Million | -6.36% |
| Share Issuances | NT$5.48 Million | +2.84% |
| Other Comprehensive Income | NT$16.09 Million | +8.35% |
| Other Changes | NT$-15.95 Million | -8.28% |
| Total Change | NT$- | -3.33% |
Book Value vs Market Value Analysis
This analysis compares Tecom 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: 1.10x
- 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 0.10x to 1.10x 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$136.40 | NT$13.20 | x |
| 2010-12-31 | NT$97.02 | NT$13.20 | x |
| 2011-12-31 | NT$49.39 | NT$13.20 | x |
| 2012-12-31 | NT$37.55 | NT$13.20 | x |
| 2013-12-31 | NT$21.61 | NT$13.20 | x |
| 2014-12-31 | NT$12.16 | NT$13.20 | x |
| 2015-12-31 | NT$6.03 | NT$13.20 | x |
| 2016-12-31 | NT$18.77 | NT$13.20 | x |
| 2017-12-31 | NT$20.30 | NT$13.20 | x |
| 2018-12-31 | NT$24.82 | NT$13.20 | x |
| 2019-12-31 | NT$25.48 | NT$13.20 | x |
| 2020-12-31 | NT$16.55 | NT$13.20 | x |
| 2021-12-31 | NT$16.02 | NT$13.20 | x |
| 2022-12-31 | NT$14.93 | NT$13.20 | x |
| 2023-12-31 | NT$14.55 | NT$13.20 | x |
| 2024-12-31 | NT$14.10 | NT$13.20 | x |
| 2025-12-31 | NT$12.03 | NT$13.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tecom Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -6.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.67%
- • Asset Turnover: 0.60x
- • Equity Multiplier: 6.36x
- Recent ROE (-6.36%) is above the historical average (-22.23%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 1.55% | 0.72% | 1.20x | 1.78x | NT$-332.94 Million |
| 2003 | 2.91% | 1.52% | 1.07x | 1.79x | NT$-274.73 Million |
| 2004 | 9.26% | 3.70% | 1.25x | 2.01x | NT$-30.46 Million |
| 2006 | 8.84% | 3.24% | 1.54x | 1.77x | NT$-49.74 Million |
| 2009 | -30.51% | -6.44% | 1.30x | 3.64x | NT$-788.66 Million |
| 2010 | -39.60% | -6.61% | 1.26x | 4.75x | NT$-686.87 Million |
| 2011 | -81.69% | -6.58% | 1.54x | 8.07x | NT$-642.45 Million |
| 2012 | -125.11% | -9.16% | 1.78x | 7.67x | NT$-717.31 Million |
| 2013 | 2.03% | 0.09% | 2.03x | 11.42x | NT$-24.35 Million |
| 2014 | -50.00% | -1.39% | 2.32x | 15.43x | NT$-103.17 Million |
| 2015 | -92.39% | -1.93% | 1.63x | 29.31x | NT$-87.25 Million |
| 2016 | 17.90% | 1.16% | 1.41x | 10.93x | NT$20.96 Million |
| 2017 | -21.36% | -1.99% | 1.38x | 7.80x | NT$-89.98 Million |
| 2018 | -13.37% | -1.93% | 1.15x | 6.00x | NT$-81.98 Million |
| 2019 | -32.18% | -7.41% | 0.70x | 6.19x | NT$-151.93 Million |
| 2020 | -14.83% | -3.23% | 0.57x | 8.13x | NT$-58.10 Million |
| 2021 | 7.94% | 1.68% | 0.52x | 9.02x | NT$-4.66 Million |
| 2022 | 15.44% | 3.22% | 0.53x | 8.97x | NT$11.48 Million |
| 2023 | -17.90% | -4.58% | 0.57x | 6.81x | NT$-57.38 Million |
| 2024 | -7.37% | -2.33% | 0.49x | 6.49x | NT$-34.62 Million |
| 2025 | -6.36% | -1.67% | 0.60x | 6.36x | NT$-31.52 Million |
Industry Comparison
This section compares Tecom Co Ltd's net assets metrics with peer companies in the Communication Equipment industry.
Industry Context
- Industry: Communication Equipment
- Average net assets among peers: $3,879,151,222
- Average return on equity (ROE) among peers: 4.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tecom Co Ltd (2321) | NT$444.16 Million | 1.55% | 1.76x | $12.46 Million |
| Microelectronics Technology Inc (2314) | $5.20 Billion | 8.15% | 0.60x | $47.14 Million |
| D-Link Corp (2332) | $8.93 Billion | -4.95% | 0.76x | $260.42 Million |
| Accton Technology Corp (2345) | $7.06 Billion | 14.25% | 0.92x | $40.15 Billion |
| Hitron Technologies Inc (2419) | $3.48 Billion | 4.27% | 1.04x | $306.23 Million |
| Abocom Systems Inc (2444) | $1.36 Billion | 7.88% | 0.70x | $42.72 Million |
| Zinwell Corporation (2485) | $2.25 Billion | 6.82% | 0.17x | $587.53 Million |
| Loop Telecommunication International Inc (3025) | $787.95 Million | -5.56% | 0.24x | $107.43 Million |
| Edimax Technology Co Ltd (3047) | $2.49 Billion | 3.33% | 1.52x | $102.61 Million |
| CyberTAN Technology Inc (3062) | $3.36 Billion | 9.59% | 1.88x | $257.39 Million |
About Tecom Co Ltd
Tecom Co., Ltd. engages in the manufacture and sale of telecommunications equipment for enterprise, carrier, and consumer markets in Taiwan and internationally. It operates through Business communication systems; Smart electromechanical systems; and Fiber optic cables segments. The company offers business and smartphone communication system; and broadband and wireless access, and cloud device ser… Read more