Cathay Real Estate Development Co Ltd (2501) - Net Assets
Based on the latest financial reports, Cathay Real Estate Development Co Ltd (2501) has net assets worth NT$31.15 Billion TWD (≈ $981.25 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$90.73 Billion ≈ $2.86 Billion USD) and total liabilities (NT$59.58 Billion ≈ $1.88 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 2501 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$31.15 Billion |
| % of Total Assets | 34.33% |
| Annual Growth Rate | 2.33% |
| 5-Year Change | 20.11% |
| 10-Year Change | 17.07% |
| Growth Volatility | 5.91 |
Cathay Real Estate Development Co Ltd - Net Assets Trend (2003–2024)
This chart illustrates how Cathay Real Estate Development Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 2501 current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Cathay Real Estate Development Co Ltd (2003–2024)
The table below shows the annual net assets of Cathay Real Estate Development Co Ltd from 2003 to 2024. For live valuation and market cap data, see Cathay Real Estate Development Co Ltd (2501) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$30.51 Billion ≈ $961.15 Million |
+6.92% |
| 2023-12-31 | NT$28.53 Billion ≈ $898.92 Million |
+6.63% |
| 2022-12-31 | NT$26.76 Billion ≈ $843.02 Million |
+1.61% |
| 2021-12-31 | NT$26.33 Billion ≈ $829.69 Million |
+3.68% |
| 2020-12-31 | NT$25.40 Billion ≈ $800.21 Million |
+3.75% |
| 2019-12-31 | NT$24.48 Billion ≈ $771.32 Million |
-3.39% |
| 2018-12-31 | NT$25.34 Billion ≈ $798.40 Million |
+9.12% |
| 2017-12-31 | NT$23.22 Billion ≈ $731.69 Million |
-1.51% |
| 2016-12-31 | NT$23.58 Billion ≈ $742.88 Million |
-9.52% |
| 2015-12-31 | NT$26.06 Billion ≈ $821.00 Million |
+1.42% |
| 2014-12-31 | NT$25.69 Billion ≈ $809.48 Million |
+5.36% |
| 2013-12-31 | NT$24.39 Billion ≈ $768.33 Million |
+9.06% |
| 2012-12-31 | NT$22.36 Billion ≈ $704.51 Million |
+3.03% |
| 2011-12-31 | NT$21.70 Billion ≈ $683.77 Million |
+5.80% |
| 2010-12-31 | NT$20.51 Billion ≈ $646.31 Million |
+1.36% |
| 2009-12-31 | NT$20.24 Billion ≈ $637.64 Million |
+9.69% |
| 2008-12-31 | NT$18.45 Billion ≈ $581.32 Million |
-9.72% |
| 2007-12-31 | NT$20.44 Billion ≈ $643.93 Million |
-4.07% |
| 2006-12-31 | NT$21.31 Billion ≈ $671.23 Million |
+13.86% |
| 2005-12-31 | NT$18.71 Billion ≈ $589.53 Million |
+0.71% |
| 2004-12-31 | NT$18.58 Billion ≈ $585.37 Million |
-1.23% |
| 2003-12-31 | NT$18.81 Billion ≈ $592.67 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Cathay Real Estate Development 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 3170.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$9.20 Billion | 32.55% |
| Other Components | NT$19.06 Billion | 67.45% |
| Total Equity | NT$28.26 Billion | 100.00% |
Cathay Real Estate Development Co Ltd Competitors by Market Cap
The table below lists competitors of Cathay Real Estate Development Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Fengyuzhu Exhibition Co Ltd Class A
SHG:603466
|
$845.99 Million |
|
TotalEnergies EP Gabon S.A.
PA:EC
|
$846.00 Million |
|
Jiangsu Hanvo Safety Product Co. Ltd.
SHE:300952
|
$846.04 Million |
|
Grupo Posadas S.A.B. de C.V
MX:POSADASA
|
$846.73 Million |
|
PharmaResources (Shanghai) Co. Ltd. A
SHE:301230
|
$845.63 Million |
|
Bide Pharmatech Co. Ltd. A
SHG:688073
|
$844.75 Million |
|
Inspur Software Co Ltd
SHG:600756
|
$844.68 Million |
|
Benakat Petroleum Energy
JK:BIPI
|
$844.62 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cathay Real Estate Development Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 26,309,345,000 to 28,263,625,000, a change of 1,954,280,000 (7.4%).
- Net income of 1,577,400,000 contributed positively to equity growth.
- Dividend payments of 1,159,561,000 reduced retained earnings.
- Other comprehensive income decreased equity by 435,331,000.
- Other factors increased equity by 1,971,772,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.58 Billion | +5.58% |
| Dividends Paid | NT$1.16 Billion | -4.1% |
| Other Comprehensive Income | NT$-435.33 Million | -1.54% |
| Other Changes | NT$1.97 Billion | +6.98% |
| Total Change | NT$- | 7.43% |
Book Value vs Market Value Analysis
This analysis compares Cathay Real Estate Development 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: 0.95x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.26x to 0.95x 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$18.37 | NT$23.15 | x |
| 2007-12-31 | NT$17.62 | NT$23.15 | x |
| 2008-12-31 | NT$15.90 | NT$23.15 | x |
| 2009-12-31 | NT$17.44 | NT$23.15 | x |
| 2010-12-31 | NT$17.68 | NT$23.15 | x |
| 2011-12-31 | NT$18.69 | NT$23.15 | x |
| 2012-12-31 | NT$18.84 | NT$23.15 | x |
| 2013-12-31 | NT$20.24 | NT$23.15 | x |
| 2014-12-31 | NT$21.38 | NT$23.15 | x |
| 2015-12-31 | NT$21.79 | NT$23.15 | x |
| 2016-12-31 | NT$15.66 | NT$23.15 | x |
| 2017-12-31 | NT$19.64 | NT$23.15 | x |
| 2018-12-31 | NT$21.62 | NT$23.15 | x |
| 2019-12-31 | NT$21.02 | NT$23.15 | x |
| 2020-12-31 | NT$21.09 | NT$23.15 | x |
| 2021-12-31 | NT$21.94 | NT$23.15 | x |
| 2022-12-31 | NT$21.22 | NT$23.15 | x |
| 2023-12-31 | NT$22.69 | NT$23.15 | x |
| 2024-12-31 | NT$24.37 | NT$23.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cathay Real Estate Development Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.58%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.61%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 3.16x
- Recent ROE (5.58%) is below the historical average (6.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 1.50% | 7.68% | 0.19x | 1.03x | NT$-1.60 Billion |
| 2004 | 0.33% | 3.28% | 0.10x | 1.04x | NT$-1.80 Billion |
| 2005 | 0.98% | 14.40% | 0.06x | 1.12x | NT$-1.69 Billion |
| 2006 | 5.64% | 25.69% | 0.16x | 1.38x | NT$-929.53 Million |
| 2007 | 4.36% | 13.02% | 0.22x | 1.55x | NT$-1.15 Billion |
| 2008 | 1.97% | 8.85% | 0.14x | 1.57x | NT$-1.48 Billion |
| 2009 | 2.78% | 10.88% | 0.19x | 1.36x | NT$-1.46 Billion |
| 2010 | 4.91% | 22.79% | 0.15x | 1.48x | NT$-1.04 Billion |
| 2011 | 14.33% | 41.52% | 0.21x | 1.62x | NT$937.36 Million |
| 2012 | 7.72% | 20.99% | 0.18x | 2.00x | NT$-497.21 Million |
| 2013 | 7.19% | 20.73% | 0.16x | 2.15x | NT$-658.63 Million |
| 2014 | 11.91% | 29.85% | 0.17x | 2.30x | NT$474.10 Million |
| 2015 | 9.21% | 23.63% | 0.16x | 2.45x | NT$-199.25 Million |
| 2016 | 13.13% | 16.14% | 0.34x | 2.41x | NT$720.05 Million |
| 2017 | 6.34% | 11.77% | 0.23x | 2.36x | NT$-832.21 Million |
| 2018 | 14.40% | 25.25% | 0.29x | 1.95x | NT$1.10 Billion |
| 2019 | 5.62% | 11.79% | 0.22x | 2.20x | NT$-1.07 Billion |
| 2020 | 6.07% | 10.62% | 0.23x | 2.43x | NT$-961.54 Million |
| 2021 | 3.33% | 6.79% | 0.18x | 2.68x | NT$-1.70 Billion |
| 2022 | 4.91% | 7.19% | 0.21x | 3.26x | NT$-1.25 Billion |
| 2023 | 8.23% | 13.98% | 0.19x | 3.12x | NT$-466.50 Million |
| 2024 | 5.58% | 6.61% | 0.27x | 3.16x | NT$-1.25 Billion |
Industry Comparison
This section compares Cathay Real Estate Development Co Ltd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $8,255,287,000
- Average return on equity (ROE) among peers: 5.63%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cathay Real Estate Development Co Ltd (2501) | NT$31.15 Billion | 1.50% | 1.91x | $845.73 Million |
| HUA YU LIEN Development Co Ltd (1436) | $2.24 Billion | -1.70% | 1.92x | $271.78 Million |
| Advancetek Enterprise Co Ltd (1442) | $8.00 Billion | 13.84% | 0.79x | $302.29 Million |
| Better Life Group Co Ltd (1805) | $261.60 Million | 0.00% | 1.21x | $46.14 Million |
| Run Long Construction Co Ltd (1808) | $5.07 Billion | 2.31% | 6.26x | $807.49 Million |
| Jean Co Ltd (2442) | $1.76 Billion | 18.77% | 1.49x | $161.67 Million |
| Kuo Yang Construction Co Ltd (2505) | $7.23 Billion | 0.09% | 1.18x | $211.91 Million |
| Pacific Construction Co Ltd (2506) | $8.74 Billion | 0.50% | 0.53x | $101.27 Million |
| Prince Housing & Development Corp (2511) | $24.63 Billion | 6.53% | 1.08x | $408.47 Million |
| King’s Town Construction Co Ltd (2524) | $16.37 Billion | 10.31% | 1.11x | $423.74 Million |
About Cathay Real Estate Development Co Ltd
Cathay Real Estate Development Co.,Ltd. engages in the construction of residential and commercial buildings for leasing and selling in Taiwan. The company operates through Property and Real Estate Investment Development Department and Construction Department segments. It also offers construction contracting and construction management; and equipment leasing services. In addition, the company is i… Read more