Gold Circuit Electronics Ltd (2368) - Net Assets
Based on the latest financial reports, Gold Circuit Electronics Ltd (2368) has net assets worth NT$33.48 Billion TWD (≈ $1.05 Billion 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$75.75 Billion ≈ $2.39 Billion USD) and total liabilities (NT$42.27 Billion ≈ $1.33 Billion 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 2368 tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$33.48 Billion |
| % of Total Assets | 44.2% |
| Annual Growth Rate | 6.18% |
| 5-Year Change | 193.64% |
| 10-Year Change | 372.28% |
| Growth Volatility | 18.07 |
Gold Circuit Electronics Ltd - Net Assets Trend (2000–2025)
This chart illustrates how Gold Circuit Electronics Ltd's net assets have evolved over time, based on quarterly financial data. See 2368 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Gold Circuit Electronics Ltd (2000–2025)
The table below shows the annual net assets of Gold Circuit Electronics Ltd from 2000 to 2025. For live valuation and market cap data, see market cap of Gold Circuit Electronics Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$33.48 Billion ≈ $1.05 Billion |
+57.10% |
| 2024-12-31 | NT$21.31 Billion ≈ $671.45 Million |
+26.62% |
| 2023-12-31 | NT$16.83 Billion ≈ $530.27 Million |
+17.50% |
| 2022-12-31 | NT$14.32 Billion ≈ $451.29 Million |
+25.63% |
| 2021-12-31 | NT$11.40 Billion ≈ $359.23 Million |
+23.06% |
| 2020-12-31 | NT$9.27 Billion ≈ $291.92 Million |
+29.30% |
| 2019-12-31 | NT$7.17 Billion ≈ $225.77 Million |
+1.61% |
| 2018-12-31 | NT$7.05 Billion ≈ $222.19 Million |
+3.71% |
| 2017-12-31 | NT$6.80 Billion ≈ $214.25 Million |
-4.07% |
| 2016-12-31 | NT$7.09 Billion ≈ $223.35 Million |
-1.58% |
| 2015-12-31 | NT$7.20 Billion ≈ $226.94 Million |
-0.48% |
| 2014-12-31 | NT$7.24 Billion ≈ $228.04 Million |
+16.70% |
| 2013-12-31 | NT$6.20 Billion ≈ $195.41 Million |
-10.87% |
| 2012-12-31 | NT$6.96 Billion ≈ $219.25 Million |
-21.71% |
| 2011-12-31 | NT$8.89 Billion ≈ $280.06 Million |
-1.56% |
| 2010-12-31 | NT$9.03 Billion ≈ $284.50 Million |
-1.43% |
| 2009-12-31 | NT$9.16 Billion ≈ $288.62 Million |
-2.88% |
| 2008-12-31 | NT$9.43 Billion ≈ $297.17 Million |
+4.15% |
| 2007-12-31 | NT$9.06 Billion ≈ $285.32 Million |
+9.11% |
| 2006-12-31 | NT$8.30 Billion ≈ $261.49 Million |
+12.68% |
| 2005-12-31 | NT$7.37 Billion ≈ $232.07 Million |
+19.92% |
| 2004-12-31 | NT$6.14 Billion ≈ $193.52 Million |
+25.77% |
| 2003-12-31 | NT$4.88 Billion ≈ $153.87 Million |
-0.08% |
| 2002-12-31 | NT$4.89 Billion ≈ $154.00 Million |
-32.82% |
| 2001-12-31 | NT$7.28 Billion ≈ $229.24 Million |
-2.66% |
| 2000-12-31 | NT$7.47 Billion ≈ $235.50 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Gold Circuit Electronics 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 1892.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$18.04 Billion | 53.88% |
| Common Stock | NT$5.05 Billion | 15.09% |
| Other Comprehensive Income | NT$4.89 Billion | 14.62% |
| Other Components | NT$5.50 Billion | 16.42% |
| Total Equity | NT$33.48 Billion | 100.00% |
Gold Circuit Electronics Ltd Competitors by Market Cap
The table below lists competitors of Gold Circuit Electronics Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
EAST JP RAILW. ADR 1/6
F:EJR0
|
$21.61 Billion |
|
Rollins Inc
NYSE:ROL
|
$21.73 Billion |
|
Pan American Silver Corp
TO:PAAS
|
$21.74 Billion |
|
Banco do Brasil S.A.
SA:BBAS3
|
$21.74 Billion |
|
KGHM Polska Miedz SA
WAR:KGH
|
$21.58 Billion |
|
Omnicom Group Inc
NYSE:OMC
|
$21.56 Billion |
|
Zhen Ding Technology Holding Ltd
TW:4958
|
$21.54 Billion |
|
Telefónica S.A
F:TNE2
|
$21.54 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gold Circuit Electronics Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 21,312,205,000 to 33,481,159,000, a change of 12,168,954,000 (57.1%).
- Net income of 9,606,531,000 contributed positively to equity growth.
- Dividend payments of 2,920,129,000 reduced retained earnings.
- Other comprehensive income increased equity by 4,250,042,000.
- Other factors increased equity by 1,232,510,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$9.61 Billion | +28.69% |
| Dividends Paid | NT$2.92 Billion | -8.72% |
| Other Comprehensive Income | NT$4.25 Billion | +12.69% |
| Other Changes | NT$1.23 Billion | +3.68% |
| Total Change | NT$- | 57.10% |
Book Value vs Market Value Analysis
This analysis compares Gold Circuit Electronics 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: 20.19x
- 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 83.28x to 20.19x 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$16.45 | NT$1370.00 | x |
| 2007-12-31 | NT$17.86 | NT$1370.00 | x |
| 2008-12-31 | NT$18.53 | NT$1370.00 | x |
| 2009-12-31 | NT$18.24 | NT$1370.00 | x |
| 2010-12-31 | NT$17.94 | NT$1370.00 | x |
| 2011-12-31 | NT$17.66 | NT$1370.00 | x |
| 2012-12-31 | NT$13.83 | NT$1370.00 | x |
| 2013-12-31 | NT$12.41 | NT$1370.00 | x |
| 2014-12-31 | NT$14.44 | NT$1370.00 | x |
| 2015-12-31 | NT$14.39 | NT$1370.00 | x |
| 2016-12-31 | NT$14.47 | NT$1370.00 | x |
| 2017-12-31 | NT$14.02 | NT$1370.00 | x |
| 2018-12-31 | NT$14.50 | NT$1370.00 | x |
| 2019-12-31 | NT$14.72 | NT$1370.00 | x |
| 2020-12-31 | NT$18.92 | NT$1370.00 | x |
| 2021-12-31 | NT$23.28 | NT$1370.00 | x |
| 2022-12-31 | NT$27.54 | NT$1370.00 | x |
| 2023-12-31 | NT$34.35 | NT$1370.00 | x |
| 2024-12-31 | NT$42.06 | NT$1370.00 | x |
| 2025-12-31 | NT$67.86 | NT$1370.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gold Circuit Electronics Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 28.69%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.01%
- • Asset Turnover: 0.79x
- • Equity Multiplier: 2.26x
- Recent ROE (28.69%) is above the historical average (8.37%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 9.45% | 8.61% | 0.68x | 1.60x | NT$-41.42 Million |
| 2004 | 10.45% | 5.82% | 0.74x | 2.41x | NT$27.43 Million |
| 2005 | 14.53% | 9.21% | 0.70x | 2.25x | NT$333.39 Million |
| 2006 | 15.22% | 8.37% | 0.74x | 2.47x | NT$433.28 Million |
| 2007 | 14.87% | 6.94% | 0.76x | 2.81x | NT$441.44 Million |
| 2008 | 3.46% | 1.77% | 0.84x | 2.33x | NT$-617.33 Million |
| 2009 | -1.72% | -1.10% | 0.71x | 2.20x | NT$-1.07 Billion |
| 2010 | 1.40% | 0.82% | 0.74x | 2.32x | NT$-776.75 Million |
| 2011 | -4.74% | -2.49% | 0.71x | 2.69x | NT$-1.31 Billion |
| 2012 | -25.46% | -11.77% | 0.69x | 3.14x | NT$-2.47 Billion |
| 2013 | -14.09% | -4.93% | 0.80x | 3.60x | NT$-1.49 Billion |
| 2014 | 8.68% | 3.13% | 0.83x | 3.35x | NT$-95.21 Million |
| 2015 | 1.41% | 0.53% | 0.86x | 3.08x | NT$-618.67 Million |
| 2016 | 2.03% | 0.75% | 0.88x | 3.07x | NT$-565.13 Million |
| 2017 | -3.96% | -1.40% | 0.90x | 3.13x | NT$-949.14 Million |
| 2018 | 3.25% | 1.11% | 0.97x | 3.01x | NT$-476.38 Million |
| 2019 | 1.81% | 0.68% | 0.91x | 2.92x | NT$-586.87 Million |
| 2020 | 22.30% | 8.83% | 1.08x | 2.34x | NT$1.14 Billion |
| 2021 | 25.67% | 11.00% | 1.07x | 2.19x | NT$1.79 Billion |
| 2022 | 31.89% | 13.93% | 1.09x | 2.10x | NT$3.14 Billion |
| 2023 | 20.96% | 11.74% | 0.91x | 1.97x | NT$1.85 Billion |
| 2024 | 26.35% | 14.42% | 0.87x | 2.09x | NT$3.48 Billion |
| 2025 | 28.69% | 16.01% | 0.79x | 2.26x | NT$6.26 Billion |
Industry Comparison
This section compares Gold Circuit Electronics Ltd's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $159,345,053,500
- Average return on equity (ROE) among peers: 6.80%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gold Circuit Electronics Ltd (2368) | NT$33.48 Billion | 9.45% | 1.26x | $21.58 Billion |
| Syncmold Enterprise Corp (1582) | $184.49 Million | 15.30% | 0.73x | $415.89 Million |
| Fulltech Fiber Glass (1815) | $6.62 Billion | -7.24% | 1.18x | $1.56 Billion |
| Delta Electronics Inc (2308) | $33.12 Billion | 20.11% | 0.96x | $176.36 Billion |
| Compeq Manufacturing Co Ltd (2313) | $15.58 Billion | 6.24% | 1.23x | $9.91 Billion |
| WUS Printed Circuit Co Ltd (2316) | $5.86 Billion | -8.61% | 1.01x | $1.07 Billion |
| Hon Hai Precision Industry Co Ltd (2317) | $1.48 Trillion | 6.88% | 1.48x | $119.65 Billion |
| Yageo Corp (2327) | $31.33 Billion | 21.85% | 1.22x | $64.25 Billion |
| Pan-International Industrial Corp (2328) | $11.32 Billion | 2.51% | 0.66x | $859.00 Million |
| Chin-Poon Industrial Co Ltd (2355) | $6.89 Billion | 10.93% | 0.75x | $726.35 Million |
| Solomon Technology Corp (2359) | $3.80 Billion | 0.00% | 1.33x | $712.68 Million |
About Gold Circuit Electronics Ltd
Gold Circuit Electronics Ltd. engages in the manufacturing, processing, and trading of electronic equipment products, such as printed circuit boards in Taiwan. Its products are used for AI/ Advanced Server, networking, notebook, handset products, automotive, and IC tests products. The company was founded in 1981 and is headquartered in Taoyuan City, Taiwan.