United Integrated Services Co Ltd
United Integrated Services Co., Ltd. provides engineering construction services in Taiwan, Mainland China, Singapore, the United states, and Japan. It operates through Engineering and Integration Department, Maintenance and Design Department, and Other segments. The company engages in the contracting of various running water, instrumental control, and refrigerating and air conditioning projects; … Read more
United Integrated Services Co Ltd (2404) - Net Assets
Latest net assets as of September 2025: NT$15.96 Billion TWD
Based on the latest financial reports, United Integrated Services Co Ltd (2404) has net assets worth NT$15.96 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$69.18 Billion) and total liabilities (NT$53.22 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$15.96 Billion |
| % of Total Assets | 23.07% |
| Annual Growth Rate | 7.87% |
| 5-Year Change | 47.18% |
| 10-Year Change | 140.1% |
| Growth Volatility | 10.55 |
United Integrated Services Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how United Integrated Services 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 United Integrated Services Co Ltd (2000–2024)
The table below shows the annual net assets of United Integrated Services Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$14.94 Billion | +20.21% |
| 2023-12-31 | NT$12.43 Billion | +17.14% |
| 2022-12-31 | NT$10.61 Billion | +8.64% |
| 2021-12-31 | NT$9.77 Billion | -3.79% |
| 2020-12-31 | NT$10.15 Billion | +16.18% |
| 2019-12-31 | NT$8.74 Billion | +16.71% |
| 2018-12-31 | NT$7.49 Billion | +13.31% |
| 2017-12-31 | NT$6.61 Billion | -0.42% |
| 2016-12-31 | NT$6.64 Billion | +6.62% |
| 2015-12-31 | NT$6.22 Billion | +12.08% |
| 2014-12-31 | NT$5.55 Billion | +4.76% |
| 2013-12-31 | NT$5.30 Billion | +13.67% |
| 2012-12-31 | NT$4.66 Billion | -5.39% |
| 2011-12-31 | NT$4.93 Billion | -5.47% |
| 2010-12-31 | NT$5.21 Billion | +27.09% |
| 2009-12-31 | NT$4.10 Billion | +3.22% |
| 2008-12-31 | NT$3.97 Billion | -15.08% |
| 2007-12-31 | NT$4.68 Billion | +6.94% |
| 2006-12-31 | NT$4.38 Billion | +0.42% |
| 2005-12-31 | NT$4.36 Billion | +11.96% |
| 2004-12-31 | NT$3.89 Billion | +24.43% |
| 2003-12-31 | NT$3.13 Billion | +19.40% |
| 2002-12-31 | NT$2.62 Billion | +15.02% |
| 2001-12-31 | NT$2.28 Billion | -5.99% |
| 2000-12-31 | NT$2.42 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to United Integrated Services 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 2144.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$8.55 Billion | 58.04% |
| Other Components | NT$6.18 Billion | 41.96% |
| Total Equity | NT$14.72 Billion | 100.00% |
United Integrated Services Co Ltd Competitors by Market Cap
The table below lists competitors of United Integrated Services Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bezeq The Israel Telecommunication Corp. Ltd
PINK:BZQIF
|
$4.54 Billion |
|
Jfrog Ltd
NASDAQ:FROG
|
$4.54 Billion |
|
AAC Technologies Holdings Inc
PINK:AACAY
|
$4.55 Billion |
|
Yangzijiang Shipbuilding (Holdings) Ltd
PINK:YSHLF
|
$4.55 Billion |
|
Founder Securities Co Ltd
SHG:601901
|
$4.54 Billion |
|
Lantheus Holdings Inc
NASDAQ:LNTH
|
$4.54 Billion |
|
Indra A
MC:IDR
|
$4.54 Billion |
|
China Satellite Communications Co Ltd
SHG:601698
|
$4.53 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in United Integrated Services Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 12,129,173,000 to 14,724,531,000, a change of 2,595,358,000 (21.4%).
- Net income of 6,190,440,000 contributed positively to equity growth.
- Dividend payments of 3,939,321,000 reduced retained earnings.
- New share issuances of 190,736,000 increased equity.
- Other comprehensive income decreased equity by 583,823,999.
- Other factors increased equity by 737,326,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$6.19 Billion | +42.04% |
| Dividends Paid | NT$3.94 Billion | -26.75% |
| Share Issuances | NT$190.74 Million | +1.3% |
| Other Comprehensive Income | NT$-583.82 Million | -3.96% |
| Other Changes | NT$737.33 Million | +5.01% |
| Total Change | NT$- | 21.40% |
Book Value vs Market Value Analysis
This analysis compares United Integrated Services 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: 12.87x
- 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 46.54x to 12.87x 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$21.70 | NT$1010.00 | x |
| 2007-12-31 | NT$23.18 | NT$1010.00 | x |
| 2008-12-31 | NT$19.76 | NT$1010.00 | x |
| 2009-12-31 | NT$21.04 | NT$1010.00 | x |
| 2010-12-31 | NT$26.50 | NT$1010.00 | x |
| 2011-12-31 | NT$24.95 | NT$1010.00 | x |
| 2012-12-31 | NT$24.28 | NT$1010.00 | x |
| 2013-12-31 | NT$27.63 | NT$1010.00 | x |
| 2014-12-31 | NT$28.91 | NT$1010.00 | x |
| 2015-12-31 | NT$31.96 | NT$1010.00 | x |
| 2016-12-31 | NT$33.89 | NT$1010.00 | x |
| 2017-12-31 | NT$26.35 | NT$1010.00 | x |
| 2018-12-31 | NT$31.32 | NT$1010.00 | x |
| 2019-12-31 | NT$44.35 | NT$1010.00 | x |
| 2020-12-31 | NT$51.66 | NT$1010.00 | x |
| 2021-12-31 | NT$49.82 | NT$1010.00 | x |
| 2022-12-31 | NT$54.38 | NT$1010.00 | x |
| 2023-12-31 | NT$63.79 | NT$1010.00 | x |
| 2024-12-31 | NT$78.49 | NT$1010.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Integrated Services 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): 42.04%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.05%
- • Asset Turnover: 1.02x
- • Equity Multiplier: 3.17x
- Recent ROE (42.04%) is above the historical average (22.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 17.36% | 5.93% | 1.37x | 2.14x | NT$192.73 Million |
| 2003 | 20.17% | 8.25% | 1.26x | 1.95x | NT$318.24 Million |
| 2004 | 20.25% | 8.48% | 1.17x | 2.05x | NT$398.95 Million |
| 2005 | 3.03% | 1.23% | 1.25x | 1.96x | NT$-291.32 Million |
| 2006 | 14.80% | 7.76% | 0.98x | 1.95x | NT$208.68 Million |
| 2007 | 19.42% | 8.53% | 1.13x | 2.01x | NT$437.46 Million |
| 2008 | 11.34% | 4.53% | 1.06x | 2.36x | NT$52.88 Million |
| 2009 | 7.84% | 7.87% | 0.54x | 1.86x | NT$-87.85 Million |
| 2010 | 22.96% | 12.86% | 0.91x | 1.97x | NT$672.00 Million |
| 2011 | 17.16% | 5.75% | 1.42x | 2.10x | NT$350.88 Million |
| 2012 | 11.52% | 5.86% | 0.84x | 2.33x | NT$70.92 Million |
| 2013 | 21.19% | 9.81% | 1.00x | 2.16x | NT$593.04 Million |
| 2014 | 13.44% | 10.72% | 0.51x | 2.45x | NT$190.79 Million |
| 2015 | 20.07% | 10.02% | 0.84x | 2.37x | NT$624.36 Million |
| 2016 | 23.45% | 10.06% | 0.91x | 2.57x | NT$890.10 Million |
| 2017 | 18.97% | 9.70% | 0.75x | 2.60x | NT$574.36 Million |
| 2018 | 29.60% | 11.85% | 0.87x | 2.87x | NT$1.42 Billion |
| 2019 | 32.86% | 11.77% | 1.04x | 2.69x | NT$1.96 Billion |
| 2020 | 40.32% | 11.25% | 1.32x | 2.70x | NT$3.03 Billion |
| 2021 | 28.83% | 10.82% | 1.08x | 2.47x | NT$1.81 Billion |
| 2022 | 38.41% | 8.30% | 1.44x | 3.21x | NT$2.96 Billion |
| 2023 | 38.38% | 6.76% | 1.48x | 3.83x | NT$3.44 Billion |
| 2024 | 42.04% | 13.05% | 1.02x | 3.17x | NT$4.72 Billion |
Industry Comparison
This section compares United Integrated Services Co Ltd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $4,292,256,222
- Average return on equity (ROE) among peers: 2.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Integrated Services Co Ltd (2404) | NT$15.96 Billion | 17.36% | 3.33x | $4.54 Billion |
| Tri Ocean Textile Co Ltd (1472) | $471.56 Million | 11.76% | 2.16x | $47.78 Million |
| Ju-Kao Engineering Co., Ltd. (1594) | $255.42 Million | 7.51% | 0.87x | $1.54 Million |
| Long Bon International Co Ltd (2514) | $6.53 Billion | 0.00% | 0.66x | $62.56 Million |
| BES Engineering Co (2515) | $19.49 Billion | 4.21% | 0.91x | $672.18 Million |
| New Asia Construction & Development Corp (2516) | $2.23 Billion | 0.00% | 2.40x | $81.96 Million |
| Delpha Construction Co Ltd (2530) | $3.28 Billion | 1.62% | 1.20x | $263.82 Million |
| Da-Cin Construction Co Ltd (2535) | $3.65 Billion | 9.48% | 1.58x | $427.67 Million |
| Hwang Chang General Contractor Co Ltd (2543) | $1.87 Billion | -19.87% | 1.56x | $528.64 Million |
| Kedge Construction Co Ltd (2546) | $850.58 Million | 9.16% | 1.28x | $162.84 Million |