Micro-Star International Co Ltd
Micro-Star International Co., Ltd. engages in the manufacture and sale of motherboards, interface cards, notebook computers, and other electronic products in Asia, Europe, the United States, and internationally. Its products portfolio includes laptops, handhelds, monitors and desktop computers, graphics cards, routers, motherboards and PC peripherals, gaming peripherals, network equipment, server… Read more
Micro-Star International Co Ltd (2377) - Net Assets
Latest net assets as of September 2025: NT$52.12 Billion TWD
Based on the latest financial reports, Micro-Star International Co Ltd (2377) has net assets worth NT$52.12 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$122.59 Billion) and total liabilities (NT$70.47 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$52.12 Billion |
| % of Total Assets | 42.52% |
| Annual Growth Rate | 7.83% |
| 5-Year Change | 48.77% |
| 10-Year Change | 105.4% |
| Growth Volatility | 12.61 |
Micro-Star International Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Micro-Star International 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 Micro-Star International Co Ltd (2000–2024)
The table below shows the annual net assets of Micro-Star International Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$52.87 Billion | +5.37% |
| 2023-12-31 | NT$50.18 Billion | +3.68% |
| 2022-12-31 | NT$48.40 Billion | +2.80% |
| 2021-12-31 | NT$47.08 Billion | +32.47% |
| 2020-12-31 | NT$35.54 Billion | +14.60% |
| 2019-12-31 | NT$31.01 Billion | +3.56% |
| 2018-12-31 | NT$29.95 Billion | +7.71% |
| 2017-12-31 | NT$27.80 Billion | +3.39% |
| 2016-12-31 | NT$26.89 Billion | +4.46% |
| 2015-12-31 | NT$25.74 Billion | +4.93% |
| 2014-12-31 | NT$24.53 Billion | +6.95% |
| 2013-12-31 | NT$22.94 Billion | +6.26% |
| 2012-12-31 | NT$21.59 Billion | -7.30% |
| 2011-12-31 | NT$23.29 Billion | -5.27% |
| 2010-12-31 | NT$24.58 Billion | -3.20% |
| 2009-12-31 | NT$25.39 Billion | -1.19% |
| 2008-12-31 | NT$25.70 Billion | +7.08% |
| 2007-12-31 | NT$24.00 Billion | +13.22% |
| 2006-12-31 | NT$21.20 Billion | +5.08% |
| 2005-12-31 | NT$20.17 Billion | +6.19% |
| 2004-12-31 | NT$19.00 Billion | -3.65% |
| 2003-12-31 | NT$19.72 Billion | +18.12% |
| 2002-12-31 | NT$16.69 Billion | +29.04% |
| 2001-12-31 | NT$12.94 Billion | +49.46% |
| 2000-12-31 | NT$8.65 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Micro-Star 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 1252.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$33.43 Billion | 63.23% |
| Common Stock | NT$8.45 Billion | 15.98% |
| Other Components | NT$11.00 Billion | 20.80% |
| Total Equity | NT$52.87 Billion | 100.00% |
Micro-Star International Co Ltd Competitors by Market Cap
The table below lists competitors of Micro-Star International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Freni Brembo SpA
IL:0RPV
|
$1.84 Billion |
|
PARK NATIONAL DL 625
F:PAZ
|
$1.84 Billion |
|
Taiwan High Speed Rail Corp
TW:2633
|
$1.84 Billion |
|
Nanjing Iron & Steel Co Ltd
SHG:600282
|
$1.84 Billion |
|
CITIC Pacific Special Steel Group Co Ltd
SHE:000708
|
$1.84 Billion |
|
Sinotruk (Hong Kong) Ltd
PINK:SHKLF
|
$1.84 Billion |
|
Per Aarsleff Holding A/S
CO:PAAL-B
|
$1.83 Billion |
|
Netstreit Corp
NYSE:NTST
|
$1.83 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Micro-Star International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 50,180,264,000 to 52,874,054,000, a change of 2,693,790,000 (5.4%).
- Net income of 6,792,772,000 contributed positively to equity growth.
- Dividend payments of 4,561,602,000 reduced retained earnings.
- Other comprehensive income decreased equity by 8,898,132,000.
- Other factors increased equity by 9,360,752,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$6.79 Billion | +12.85% |
| Dividends Paid | NT$4.56 Billion | -8.63% |
| Other Comprehensive Income | NT$-8.90 Billion | -16.83% |
| Other Changes | NT$9.36 Billion | +17.7% |
| Total Change | NT$- | 5.37% |
Book Value vs Market Value Analysis
This analysis compares Micro-Star 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: 1.49x
- 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 4.53x to 1.49x 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$20.50 | NT$92.80 | x |
| 2007-12-31 | NT$22.63 | NT$92.80 | x |
| 2008-12-31 | NT$22.05 | NT$92.80 | x |
| 2009-12-31 | NT$23.68 | NT$92.80 | x |
| 2010-12-31 | NT$20.34 | NT$92.80 | x |
| 2011-12-31 | NT$21.30 | NT$92.80 | x |
| 2012-12-31 | NT$23.65 | NT$92.80 | x |
| 2013-12-31 | NT$26.80 | NT$92.80 | x |
| 2014-12-31 | NT$28.70 | NT$92.80 | x |
| 2015-12-31 | NT$30.06 | NT$92.80 | x |
| 2016-12-31 | NT$31.54 | NT$92.80 | x |
| 2017-12-31 | NT$32.62 | NT$92.80 | x |
| 2018-12-31 | NT$35.12 | NT$92.80 | x |
| 2019-12-31 | NT$36.39 | NT$92.80 | x |
| 2020-12-31 | NT$41.71 | NT$92.80 | x |
| 2021-12-31 | NT$55.03 | NT$92.80 | x |
| 2022-12-31 | NT$56.61 | NT$92.80 | x |
| 2023-12-31 | NT$59.06 | NT$92.80 | x |
| 2024-12-31 | NT$62.26 | NT$92.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Micro-Star 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): 12.85%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.43%
- • Asset Turnover: 2.05x
- • Equity Multiplier: 1.83x
- Recent ROE (12.85%) is below the historical average (13.98%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 25.01% | 8.63% | 1.39x | 2.08x | NT$1.30 Billion |
| 2001 | 29.65% | 9.56% | 1.53x | 2.03x | NT$2.54 Billion |
| 2002 | 20.01% | 5.81% | 1.65x | 2.09x | NT$1.67 Billion |
| 2003 | 15.13% | 4.52% | 1.60x | 2.09x | NT$1.01 Billion |
| 2004 | 2.37% | 0.65% | 1.62x | 2.23x | NT$-1.45 Billion |
| 2005 | 5.83% | 1.58% | 1.85x | 1.99x | NT$-841.35 Million |
| 2006 | 5.88% | 1.54% | 1.87x | 2.03x | NT$-872.64 Million |
| 2007 | 12.14% | 3.03% | 1.91x | 2.10x | NT$512.70 Million |
| 2008 | 8.83% | 2.23% | 2.00x | 1.98x | NT$-300.38 Million |
| 2009 | 0.95% | 0.29% | 1.65x | 1.96x | NT$-2.30 Billion |
| 2010 | 2.12% | 0.58% | 1.87x | 1.95x | NT$-1.94 Billion |
| 2011 | 1.40% | 0.41% | 1.98x | 1.71x | NT$-2.00 Billion |
| 2012 | 4.01% | 1.29% | 1.80x | 1.73x | NT$-1.29 Billion |
| 2013 | 8.60% | 2.74% | 1.73x | 1.82x | NT$-320.90 Million |
| 2014 | 12.29% | 3.55% | 1.83x | 1.89x | NT$560.61 Million |
| 2015 | 14.40% | 4.35% | 1.83x | 1.81x | NT$1.13 Billion |
| 2016 | 18.18% | 4.78% | 2.02x | 1.88x | NT$2.20 Billion |
| 2017 | 17.76% | 4.64% | 2.17x | 1.77x | NT$2.16 Billion |
| 2018 | 20.17% | 5.10% | 2.15x | 1.84x | NT$3.05 Billion |
| 2019 | 18.02% | 4.64% | 2.00x | 1.95x | NT$2.49 Billion |
| 2020 | 22.40% | 5.43% | 1.87x | 2.21x | NT$4.41 Billion |
| 2021 | 35.94% | 8.38% | 1.99x | 2.16x | NT$12.21 Billion |
| 2022 | 20.58% | 5.52% | 2.08x | 1.79x | NT$5.12 Billion |
| 2023 | 15.01% | 4.12% | 2.02x | 1.80x | NT$2.51 Billion |
| 2024 | 12.85% | 3.43% | 2.05x | 1.83x | NT$1.51 Billion |
Industry Comparison
This section compares Micro-Star International Co Ltd's net assets metrics with peer companies in the Computer Hardware industry.
Industry Context
- Industry: Computer Hardware
- Average net assets among peers: $43,365,135,900
- Average return on equity (ROE) among peers: 2.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Micro-Star International Co Ltd (2377) | NT$52.12 Billion | 25.01% | 1.35x | $1.84 Billion |
| Solytech Enterprise Corp (1471) | $1.73 Billion | 0.00% | 1.00x | $49.10 Million |
| Lite-On Technology Corp (2301) | $74.58 Billion | 5.93% | 1.28x | $9.62 Billion |
| Microtek International Inc (2305) | $2.23 Billion | 0.30% | 0.28x | $18.55 Million |
| Kinpo Electronics Inc (2312) | $25.86 Billion | 0.85% | 3.17x | $896.54 Million |
| CMC Magnetics Corp (2323) | $37.52 Billion | 11.36% | 0.54x | $302.78 Million |
| Compal Electronics Inc (2324) | $112.28 Billion | 7.24% | 2.09x | $3.88 Billion |
| Elitegroup Computer Systems Co Ltd (2331) | $11.76 Billion | 1.89% | 0.86x | $204.97 Million |
| Ritek Corp (2349) | $11.17 Billion | -23.02% | 0.88x | $261.22 Million |
| Qisda Corp (2352) | $47.28 Billion | 0.00% | 2.52x | $839.54 Million |
| Asustek Computer Inc (2357) | $109.25 Billion | 16.75% | 1.03x | $11.74 Billion |