Good Will Instrument Co Ltd
Good Will Instrument Co., Ltd. manufactures and markets electrical test and measurement instruments for educational and industrial manufacturing markets. It offers handheld oscilloscopes, digital storage oscilloscopes, and oscilloscope training kits; spectrum analyzers, RF training systems, and EMI solution packages; and signal generators comprising arbitrary function, RF signal, DDS function, an… Read more
Good Will Instrument Co Ltd (2423) - Net Assets
Latest net assets as of September 2025: NT$2.78 Billion TWD
Based on the latest financial reports, Good Will Instrument Co Ltd (2423) has net assets worth NT$2.78 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$3.69 Billion) and total liabilities (NT$907.99 Million). 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$2.78 Billion |
| % of Total Assets | 75.41% |
| Annual Growth Rate | 4.22% |
| 5-Year Change | 20.9% |
| 10-Year Change | 34.24% |
| Growth Volatility | 3.46 |
Good Will Instrument Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Good Will Instrument 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 Good Will Instrument Co Ltd (2002–2024)
The table below shows the annual net assets of Good Will Instrument Co Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$2.81 Billion | +2.60% |
| 2023-12-31 | NT$2.74 Billion | +4.09% |
| 2022-12-31 | NT$2.63 Billion | +8.31% |
| 2021-12-31 | NT$2.43 Billion | +4.52% |
| 2020-12-31 | NT$2.33 Billion | -0.77% |
| 2019-12-31 | NT$2.34 Billion | +0.78% |
| 2018-12-31 | NT$2.33 Billion | +5.09% |
| 2017-12-31 | NT$2.21 Billion | +1.57% |
| 2016-12-31 | NT$2.18 Billion | +4.01% |
| 2015-12-31 | NT$2.10 Billion | +6.16% |
| 2014-12-31 | NT$1.97 Billion | +6.23% |
| 2013-12-31 | NT$1.86 Billion | +6.86% |
| 2012-12-31 | NT$1.74 Billion | -0.86% |
| 2011-12-31 | NT$1.75 Billion | +14.19% |
| 2010-12-31 | NT$1.54 Billion | +5.96% |
| 2009-12-31 | NT$1.45 Billion | +0.37% |
| 2008-12-31 | NT$1.44 Billion | +0.69% |
| 2007-12-31 | NT$1.43 Billion | +8.87% |
| 2006-12-31 | NT$1.32 Billion | +5.63% |
| 2005-12-31 | NT$1.25 Billion | +1.91% |
| 2004-12-31 | NT$1.22 Billion | +3.93% |
| 2003-12-31 | NT$1.18 Billion | +4.01% |
| 2002-12-31 | NT$1.13 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Good Will Instrument 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 329.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$862.68 Million | 30.67% |
| Other Components | NT$1.95 Billion | 69.33% |
| Total Equity | NT$2.81 Billion | 100.00% |
Good Will Instrument Co Ltd Competitors by Market Cap
The table below lists competitors of Good Will Instrument Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SIEM OFFSHORE NEW DL 1
F:S5H0
|
$90.45 Million |
|
FONAR CORP. NEW DL-0001
F:FOAA
|
$90.54 Million |
|
Anadolu Hayat Emeklilik Anonim Sirketi
PINK:AUHYF
|
$90.55 Million |
|
China New Higher Education Group Limited
F:8CN
|
$90.56 Million |
|
Yummies Inc
PINK:YUMM
|
$90.44 Million |
|
Dmc Global Inc
NASDAQ:BOOM
|
$90.42 Million |
|
DELTA PLUS GRP INH.EO-50
F:7E1
|
$90.38 Million |
|
BNCCorp Inc
OTCQX:BNCC
|
$90.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Good Will Instrument Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,741,659,000 to 2,812,973,000, a change of 71,314,000 (2.6%).
- Net income of 351,131,000 contributed positively to equity growth.
- Dividend payments of 319,104,000 reduced retained earnings.
- Other comprehensive income decreased equity by 405,414,999.
- Other factors increased equity by 444,701,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$351.13 Million | +12.48% |
| Dividends Paid | NT$319.10 Million | -11.34% |
| Other Comprehensive Income | NT$-405.41 Million | -14.41% |
| Other Changes | NT$444.70 Million | +15.81% |
| Total Change | NT$- | 2.60% |
Book Value vs Market Value Analysis
This analysis compares Good Will Instrument 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: 2.53x
- 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 4.98x to 2.53x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$9.87 | NT$49.10 | x |
| 2010-12-31 | NT$10.46 | NT$49.10 | x |
| 2011-12-31 | NT$11.87 | NT$49.10 | x |
| 2012-12-31 | NT$11.83 | NT$49.10 | x |
| 2013-12-31 | NT$12.66 | NT$49.10 | x |
| 2014-12-31 | NT$13.45 | NT$49.10 | x |
| 2015-12-31 | NT$14.26 | NT$49.10 | x |
| 2016-12-31 | NT$14.85 | NT$49.10 | x |
| 2017-12-31 | NT$15.09 | NT$49.10 | x |
| 2018-12-31 | NT$15.84 | NT$49.10 | x |
| 2019-12-31 | NT$16.01 | NT$49.10 | x |
| 2020-12-31 | NT$15.95 | NT$49.10 | x |
| 2021-12-31 | NT$16.63 | NT$49.10 | x |
| 2022-12-31 | NT$17.96 | NT$49.10 | x |
| 2023-12-31 | NT$18.75 | NT$49.10 | x |
| 2024-12-31 | NT$19.39 | NT$49.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Good Will Instrument Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.48%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.59%
- • Asset Turnover: 0.78x
- • Equity Multiplier: 1.27x
- Recent ROE (12.48%) is above the historical average (12.12%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 9.69% | 9.93% | 0.72x | 1.36x | NT$-3.49 Million |
| 2003 | 12.97% | 11.49% | 0.85x | 1.33x | NT$34.94 Million |
| 2004 | 14.94% | 12.41% | 0.72x | 1.68x | NT$60.51 Million |
| 2005 | 11.62% | 9.28% | 0.70x | 1.78x | NT$19.95 Million |
| 2006 | 16.15% | 13.42% | 0.78x | 1.54x | NT$80.78 Million |
| 2007 | 16.53% | 13.86% | 0.77x | 1.56x | NT$92.91 Million |
| 2008 | 10.13% | 8.58% | 0.75x | 1.58x | NT$1.88 Million |
| 2009 | 8.29% | 8.07% | 0.68x | 1.52x | NT$-24.60 Million |
| 2010 | 13.06% | 10.66% | 0.80x | 1.54x | NT$46.89 Million |
| 2011 | 15.31% | 13.71% | 0.82x | 1.37x | NT$92.59 Million |
| 2012 | 6.61% | 6.04% | 0.72x | 1.53x | NT$-58.67 Million |
| 2013 | 6.59% | 5.82% | 0.73x | 1.56x | NT$-63.14 Million |
| 2014 | 9.02% | 8.18% | 0.72x | 1.53x | NT$-19.28 Million |
| 2015 | 11.13% | 10.77% | 0.72x | 1.43x | NT$23.60 Million |
| 2016 | 11.74% | 11.56% | 0.73x | 1.40x | NT$37.72 Million |
| 2017 | 12.87% | 12.32% | 0.76x | 1.37x | NT$63.32 Million |
| 2018 | 14.80% | 13.34% | 0.79x | 1.40x | NT$111.46 Million |
| 2019 | 13.34% | 12.22% | 0.82x | 1.34x | NT$78.15 Million |
| 2020 | 8.56% | 8.63% | 0.63x | 1.59x | NT$-33.60 Million |
| 2021 | 11.91% | 11.10% | 0.75x | 1.44x | NT$46.36 Million |
| 2022 | 15.33% | 13.99% | 0.72x | 1.52x | NT$140.34 Million |
| 2023 | 15.62% | 14.16% | 0.80x | 1.38x | NT$154.11 Million |
| 2024 | 12.48% | 12.59% | 0.78x | 1.27x | NT$69.83 Million |
Industry Comparison
This section compares Good Will Instrument Co Ltd's net assets metrics with peer companies in the Scientific & Technical Instruments industry.
Industry Context
- Industry: Scientific & Technical Instruments
- Average net assets among peers: $2,830,904,222
- Average return on equity (ROE) among peers: 8.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Good Will Instrument Co Ltd (2423) | NT$2.78 Billion | 9.69% | 0.33x | $90.45 Million |
| Chroma ATE Inc (2360) | $4.96 Billion | 20.34% | 0.61x | $9.53 Billion |
| Test Research Inc (3030) | $5.01 Billion | 11.88% | 0.21x | $1.10 Billion |
| Altek Corp (3059) | $9.12 Billion | 3.85% | 0.74x | $322.79 Million |
| RoyalTek Co Ltd (3306) | $1.34 Billion | -3.40% | 0.20x | $39.20 Million |
| Globalsat Worldcom (3499) | $631.80 Million | 4.97% | 0.89x | $18.03 Million |
| Materials Analysis Technology (3587) | $758.04 Million | 11.20% | 0.27x | $286.53 Million |
| FineTek Co Ltd (4549) | $1.42 Billion | 16.22% | 0.35x | $70.94 Million |
| Sysgration Ltd (5309) | $1.21 Billion | 7.91% | 1.41x | $303.56 Million |
| Kingwaytek Technology Co Ltd (6516) | $1.03 Billion | 5.93% | 0.23x | $62.64 Million |