Micro-Star International Co Ltd (2377) - Net Assets
Based on the latest financial reports, Micro-Star International Co Ltd (2377) has net assets worth NT$54.60 Billion TWD (≈ $1.72 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$120.95 Billion ≈ $3.81 Billion USD) and total liabilities (NT$66.35 Billion ≈ $2.09 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 Micro-Star International Co Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$54.60 Billion |
| % of Total Assets | 45.14% |
| Annual Growth Rate | 7.65% |
| 5-Year Change | 15.98% |
| 10-Year Change | 103.05% |
| Growth Volatility | 12.4 |
Micro-Star International Co Ltd - Net Assets Trend (2000–2025)
This chart illustrates how Micro-Star International Co Ltd's net assets have evolved over time, based on quarterly financial data. See Micro-Star International Co Ltd (2377) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Micro-Star International Co Ltd (2000–2025)
The table below shows the annual net assets of Micro-Star International Co Ltd from 2000 to 2025. For live valuation and market cap data, see 2377 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$54.60 Billion ≈ $1.72 Billion |
+3.27% |
| 2024-12-31 | NT$52.87 Billion ≈ $1.67 Billion |
+5.37% |
| 2023-12-31 | NT$50.18 Billion ≈ $1.58 Billion |
+3.68% |
| 2022-12-31 | NT$48.40 Billion ≈ $1.52 Billion |
+2.80% |
| 2021-12-31 | NT$47.08 Billion ≈ $1.48 Billion |
+32.47% |
| 2020-12-31 | NT$35.54 Billion ≈ $1.12 Billion |
+14.60% |
| 2019-12-31 | NT$31.01 Billion ≈ $977.06 Million |
+3.56% |
| 2018-12-31 | NT$29.95 Billion ≈ $943.46 Million |
+7.71% |
| 2017-12-31 | NT$27.80 Billion ≈ $875.96 Million |
+3.39% |
| 2016-12-31 | NT$26.89 Billion ≈ $847.20 Million |
+4.46% |
| 2015-12-31 | NT$25.74 Billion ≈ $811.01 Million |
+4.93% |
| 2014-12-31 | NT$24.53 Billion ≈ $772.91 Million |
+6.95% |
| 2013-12-31 | NT$22.94 Billion ≈ $722.66 Million |
+6.26% |
| 2012-12-31 | NT$21.59 Billion ≈ $680.12 Million |
-7.30% |
| 2011-12-31 | NT$23.29 Billion ≈ $733.67 Million |
-5.27% |
| 2010-12-31 | NT$24.58 Billion ≈ $774.47 Million |
-3.20% |
| 2009-12-31 | NT$25.39 Billion ≈ $800.05 Million |
-1.19% |
| 2008-12-31 | NT$25.70 Billion ≈ $809.70 Million |
+7.08% |
| 2007-12-31 | NT$24.00 Billion ≈ $756.13 Million |
+13.22% |
| 2006-12-31 | NT$21.20 Billion ≈ $667.82 Million |
+5.08% |
| 2005-12-31 | NT$20.17 Billion ≈ $635.53 Million |
+6.19% |
| 2004-12-31 | NT$19.00 Billion ≈ $598.50 Million |
-3.65% |
| 2003-12-31 | NT$19.72 Billion ≈ $621.17 Million |
+18.12% |
| 2002-12-31 | NT$16.69 Billion ≈ $525.89 Million |
+29.04% |
| 2001-12-31 | NT$12.94 Billion ≈ $407.54 Million |
+49.46% |
| 2000-12-31 | NT$8.65 Billion ≈ $272.68 Million |
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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 1303.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$34.68 Billion | 63.51% |
| Common Stock | NT$8.45 Billion | 15.47% |
| Other Comprehensive Income | NT$10.71 Billion | 19.62% |
| Other Components | NT$762.16 Million | 1.40% |
| Total Equity | NT$54.60 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 |
|---|---|
|
Aedifica
BR:AED
|
$3.69 Billion |
|
Gibson Energy Inc.
TO:GEI
|
$3.69 Billion |
|
Beijing Roborock Technology Co Ltd
SHG:688169
|
$3.69 Billion |
|
Cathay General Bancorp
NASDAQ:CATY
|
$3.69 Billion |
|
Ningbo Zhenyu Technology Co. Ltd.
SHE:300953
|
$3.68 Billion |
|
Cal-Maine Foods Inc
NASDAQ:CALM
|
$3.68 Billion |
|
Global Health Limited
NSE:MEDANTA
|
$3.68 Billion |
|
Sam Chun Dang Pharm. Co. Ltd
KQ:000250
|
$3.68 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 2024 to 2025, total equity changed from 52,874,054,000 to 54,602,389,000, a change of 1,728,335,000 (3.3%).
- Net income of 5,747,814,000 contributed positively to equity growth.
- Dividend payments of 4,224,281,000 reduced retained earnings.
- Other comprehensive income increased equity by 10,711,933,000.
- Other factors decreased equity by 10,507,131,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$5.75 Billion | +10.53% |
| Dividends Paid | NT$4.22 Billion | -7.74% |
| Other Comprehensive Income | NT$10.71 Billion | +19.62% |
| Other Changes | NT$-10.51 Billion | -19.24% |
| Total Change | NT$- | 3.27% |
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: 2.16x
- 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 6.76x to 2.16x 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$138.50 | x |
| 2007-12-31 | NT$22.63 | NT$138.50 | x |
| 2008-12-31 | NT$22.05 | NT$138.50 | x |
| 2009-12-31 | NT$23.68 | NT$138.50 | x |
| 2010-12-31 | NT$20.34 | NT$138.50 | x |
| 2011-12-31 | NT$21.30 | NT$138.50 | x |
| 2012-12-31 | NT$23.65 | NT$138.50 | x |
| 2013-12-31 | NT$26.80 | NT$138.50 | x |
| 2014-12-31 | NT$28.70 | NT$138.50 | x |
| 2015-12-31 | NT$30.06 | NT$138.50 | x |
| 2016-12-31 | NT$31.54 | NT$138.50 | x |
| 2017-12-31 | NT$32.62 | NT$138.50 | x |
| 2018-12-31 | NT$35.12 | NT$138.50 | x |
| 2019-12-31 | NT$36.39 | NT$138.50 | x |
| 2020-12-31 | NT$41.71 | NT$138.50 | x |
| 2021-12-31 | NT$55.03 | NT$138.50 | x |
| 2022-12-31 | NT$56.61 | NT$138.50 | x |
| 2023-12-31 | NT$59.06 | NT$138.50 | x |
| 2024-12-31 | NT$62.26 | NT$138.50 | x |
| 2025-12-31 | NT$64.17 | NT$138.50 | 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): 10.53%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.50%
- • Asset Turnover: 1.90x
- • Equity Multiplier: 2.22x
- Recent ROE (10.53%) is below the historical average (13.85%), 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 |
| 2025 | 10.53% | 2.50% | 1.90x | 2.22x | NT$287.58 Million |
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: $43,199,963,100
- Average return on equity (ROE) among peers: 7.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Micro-Star International Co Ltd (2377) | NT$54.60 Billion | 25.01% | 1.22x | $3.69 Billion |
| Solytech Enterprise Corp (1471) | $2.66 Billion | -2.96% | 0.31x | $51.89 Million |
| Lite-On Technology Corp (2301) | $90.91 Billion | 13.14% | 1.25x | $15.05 Billion |
| Microtek International Inc (2305) | $1.45 Billion | 10.59% | 0.52x | $214.92 Million |
| Kinpo Electronics Inc (2312) | $27.02 Billion | 4.35% | 2.10x | $1.68 Billion |
| CMC Magnetics Corp (2323) | $18.82 Billion | 9.30% | 0.35x | $403.27 Million |
| Compal Electronics Inc (2324) | $114.76 Billion | 6.06% | 2.33x | $5.18 Billion |
| Elitegroup Computer Systems Co Ltd (2331) | $11.47 Billion | 4.85% | 1.74x | $393.37 Million |
| Ritek Corp (2349) | $60.13 Billion | 2.38% | 0.82x | $302.69 Million |
| Qisda Corp (2352) | $37.54 Billion | 14.09% | 1.90x | $1.54 Billion |
| Acer Inc (2353) | $67.25 Billion | 12.61% | 1.55x | $3.26 Billion |
About 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