Merry Electronics Co Ltd
Merry Electronics Co., Ltd. engages in the manufacture, processing, repair, and sale of electric appliances, audiovisual electric products, telecommunication equipment and apparatus, computers and computing peripheral equipment, restrained telecom radio frequency equipment, medical appliances, and electronic parts and components in the United States, Taiwan, Europe, China, and internationally. Th… Read more
Merry Electronics Co Ltd (2439) - Net Assets
Latest net assets as of June 2025: NT$16.57 Billion TWD
Based on the latest financial reports, Merry Electronics Co Ltd (2439) has net assets worth NT$16.57 Billion TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$39.20 Billion) and total liabilities (NT$22.64 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$16.57 Billion |
| % of Total Assets | 42.26% |
| Annual Growth Rate | 10.59% |
| 5-Year Change | 56.42% |
| 10-Year Change | 230.34% |
| Growth Volatility | 23.0 |
Merry Electronics Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Merry Electronics 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 Merry Electronics Co Ltd (2000–2024)
The table below shows the annual net assets of Merry Electronics Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$19.19 Billion | +42.36% |
| 2023-12-31 | NT$13.48 Billion | +3.26% |
| 2022-12-31 | NT$13.06 Billion | +7.42% |
| 2021-12-31 | NT$12.15 Billion | -0.95% |
| 2020-12-31 | NT$12.27 Billion | -5.60% |
| 2019-12-31 | NT$13.00 Billion | +28.96% |
| 2018-12-31 | NT$10.08 Billion | -26.45% |
| 2017-12-31 | NT$13.70 Billion | +97.32% |
| 2016-12-31 | NT$6.95 Billion | +19.54% |
| 2015-12-31 | NT$5.81 Billion | -4.77% |
| 2014-12-31 | NT$6.10 Billion | +13.93% |
| 2013-12-31 | NT$5.35 Billion | +18.92% |
| 2012-12-31 | NT$4.50 Billion | +3.48% |
| 2011-12-31 | NT$4.35 Billion | -1.80% |
| 2010-12-31 | NT$4.43 Billion | -1.06% |
| 2009-12-31 | NT$4.48 Billion | +1.75% |
| 2008-12-31 | NT$4.40 Billion | -3.60% |
| 2007-12-31 | NT$4.57 Billion | +13.44% |
| 2006-12-31 | NT$4.03 Billion | +14.58% |
| 2005-12-31 | NT$3.51 Billion | +14.42% |
| 2004-12-31 | NT$3.07 Billion | +41.41% |
| 2003-12-31 | NT$2.17 Billion | +12.75% |
| 2002-12-31 | NT$1.93 Billion | +1.73% |
| 2001-12-31 | NT$1.89 Billion | +10.36% |
| 2000-12-31 | NT$1.72 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merry Electronics 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 1107.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$4.31 Billion | 23.90% |
| Other Components | NT$13.71 Billion | 76.10% |
| Total Equity | NT$18.02 Billion | 100.00% |
Merry Electronics Co Ltd Competitors by Market Cap
The table below lists competitors of Merry Electronics Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Risesun Real Estate Development Co Ltd
SHE:002146
|
$570.30 Million |
|
Zhejiang Qianjiang Motorcycle Co Ltd
SHE:000913
|
$570.39 Million |
|
Mayr-Melnhof Karton AG
PINK:MNHFF
|
$570.46 Million |
|
Changzhou Youon Pubilic Bicycle System Co Ltd
SHG:603776
|
$570.64 Million |
|
Zhuhai Zhongfu Enterprise Co Ltd
SHE:000659
|
$570.17 Million |
|
PT Merdeka Battery Materials
JK:MBMA
|
$570.05 Million |
|
Mitra Adiperkasa Tbk
JK:MAPI
|
$569.96 Million |
|
Farmers & Merchants Bancorp
OTCQX:FMCB
|
$569.85 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merry Electronics Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 12,621,247,000 to 18,018,845,000, a change of 5,397,598,000 (42.8%).
- Net income of 2,143,258,000 contributed positively to equity growth.
- Dividend payments of 1,030,914,000 reduced retained earnings.
- New share issuances of 475,000,000 increased equity.
- Other comprehensive income decreased equity by 2,932,996,000.
- Other factors increased equity by 6,743,250,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$2.14 Billion | +11.89% |
| Dividends Paid | NT$1.03 Billion | -5.72% |
| Share Issuances | NT$475.00 Million | +2.64% |
| Other Comprehensive Income | NT$-2.93 Billion | -16.28% |
| Other Changes | NT$6.74 Billion | +37.42% |
| Total Change | NT$- | 42.77% |
Book Value vs Market Value Analysis
This analysis compares Merry Electronics 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: 1.19x
- 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 3.96x to 1.19x 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$21.42 | NT$84.80 | x |
| 2007-12-31 | NT$24.26 | NT$84.80 | x |
| 2008-12-31 | NT$23.25 | NT$84.80 | x |
| 2009-12-31 | NT$23.92 | NT$84.80 | x |
| 2010-12-31 | NT$23.66 | NT$84.80 | x |
| 2011-12-31 | NT$23.26 | NT$84.80 | x |
| 2012-12-31 | NT$24.08 | NT$84.80 | x |
| 2013-12-31 | NT$30.07 | NT$84.80 | x |
| 2014-12-31 | NT$32.36 | NT$84.80 | x |
| 2015-12-31 | NT$29.07 | NT$84.80 | x |
| 2016-12-31 | NT$34.90 | NT$84.80 | x |
| 2017-12-31 | NT$68.78 | NT$84.80 | x |
| 2018-12-31 | NT$49.56 | NT$84.80 | x |
| 2019-12-31 | NT$57.19 | NT$84.80 | x |
| 2020-12-31 | NT$52.22 | NT$84.80 | x |
| 2021-12-31 | NT$48.80 | NT$84.80 | x |
| 2022-12-31 | NT$50.38 | NT$84.80 | x |
| 2023-12-31 | NT$51.55 | NT$84.80 | x |
| 2024-12-31 | NT$71.08 | NT$84.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merry Electronics 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): 11.89%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.89%
- • Asset Turnover: 1.12x
- • Equity Multiplier: 2.17x
- Recent ROE (11.89%) is below the historical average (15.24%), 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 | 16.74% | 17.66% | 0.73x | 1.30x | NT$115.53 Million |
| 2001 | 8.35% | 11.38% | 0.58x | 1.26x | NT$-31.17 Million |
| 2002 | 8.21% | 9.40% | 0.56x | 1.55x | NT$-34.44 Million |
| 2003 | 16.03% | 17.39% | 0.59x | 1.57x | NT$130.93 Million |
| 2004 | 18.78% | 21.82% | 0.57x | 1.51x | NT$269.47 Million |
| 2005 | 15.79% | 16.37% | 0.63x | 1.53x | NT$202.27 Million |
| 2006 | 18.81% | 12.79% | 0.97x | 1.52x | NT$353.12 Million |
| 2007 | 19.74% | 10.13% | 1.14x | 1.72x | NT$442.29 Million |
| 2008 | 12.94% | 6.50% | 1.23x | 1.62x | NT$128.82 Million |
| 2009 | 11.85% | 7.87% | 0.88x | 1.71x | NT$82.51 Million |
| 2010 | 13.62% | 7.38% | 1.12x | 1.64x | NT$159.61 Million |
| 2011 | 7.26% | 4.02% | 1.01x | 1.80x | NT$-118.66 Million |
| 2012 | 10.71% | 6.26% | 1.06x | 1.61x | NT$31.96 Million |
| 2013 | 19.29% | 9.16% | 1.19x | 1.76x | NT$496.38 Million |
| 2014 | 20.55% | 10.10% | 1.24x | 1.64x | NT$638.74 Million |
| 2015 | 11.06% | 5.24% | 1.08x | 1.96x | NT$61.63 Million |
| 2016 | 28.96% | 11.87% | 1.10x | 2.21x | NT$1.32 Billion |
| 2017 | 26.43% | 13.58% | 1.01x | 1.92x | NT$2.25 Billion |
| 2018 | 20.79% | 5.82% | 1.17x | 3.05x | NT$1.07 Billion |
| 2019 | 19.86% | 7.00% | 1.41x | 2.01x | NT$1.27 Billion |
| 2020 | 11.23% | 3.84% | 1.01x | 2.90x | NT$144.77 Million |
| 2021 | 9.72% | 3.12% | 1.07x | 2.92x | NT$-32.93 Million |
| 2022 | 11.86% | 4.11% | 1.06x | 2.72x | NT$228.15 Million |
| 2023 | 10.46% | 3.60% | 1.13x | 2.58x | NT$58.19 Million |
| 2024 | 11.89% | 4.89% | 1.12x | 2.17x | NT$341.37 Million |
Industry Comparison
This section compares Merry Electronics Co Ltd's net assets metrics with peer companies in the Consumer Electronics industry.
Industry Context
- Industry: Consumer Electronics
- Average net assets among peers: $2,157,542,889
- Average return on equity (ROE) among peers: 7.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merry Electronics Co Ltd (2439) | NT$16.57 Billion | 16.74% | 1.37x | $570.30 Million |
| Lung Hwa Electronics Co Ltd (2424) | $317.59 Million | -9.51% | 0.16x | $12.91 Million |
| Taiwan Line Tek Electronic Co Ltd (2462) | $2.55 Billion | 0.44% | 0.92x | $64.46 Million |
| Meiloon Industrial Co Ltd (2477) | $4.80 Billion | 22.79% | 0.42x | $54.24 Million |
| Hanpin Electron Co Ltd (2488) | $1.90 Billion | 9.99% | 0.94x | $79.48 Million |
| Action Electronics Co Ltd (3024) | $3.55 Billion | 18.90% | 1.15x | $69.35 Million |
| Global View Co Ltd (3040) | $1.93 Billion | 36.06% | 0.07x | $52.08 Million |
| U-Tech Media Corp (3050) | $2.71 Billion | 2.67% | 0.85x | $41.27 Million |
| Phonic Corporation (3067) | $158.28 Million | -14.71% | 0.12x | $5.31K |
| Powertech Industrial Co Ltd (3296) | $1.49 Billion | 1.74% | 0.47x | $37.37 Million |