BES Engineering Co (2515) - Net Assets
Based on the latest financial reports, BES Engineering Co (2515) has net assets worth NT$22.30 Billion TWD (≈ $702.54 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$65.86 Billion ≈ $2.07 Billion USD) and total liabilities (NT$43.56 Billion ≈ $1.37 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 BES Engineering Co (2515) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$22.30 Billion |
| % of Total Assets | 33.86% |
| Annual Growth Rate | 1.52% |
| 5-Year Change | 13.0% |
| 10-Year Change | 16.16% |
| Growth Volatility | 3.27 |
BES Engineering Co - Net Assets Trend (2002–2024)
This chart illustrates how BES Engineering Co's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of BES Engineering Co for the complete picture of this company's asset base.
Annual Net Assets for BES Engineering Co (2002–2024)
The table below shows the annual net assets of BES Engineering Co from 2002 to 2024. For live valuation and market cap data, see market cap of BES Engineering Co.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$23.07 Billion ≈ $726.81 Million |
-0.98% |
| 2023-12-31 | NT$23.30 Billion ≈ $734.04 Million |
+2.75% |
| 2022-12-31 | NT$22.68 Billion ≈ $714.43 Million |
-1.10% |
| 2021-12-31 | NT$22.93 Billion ≈ $722.38 Million |
+12.31% |
| 2020-12-31 | NT$20.42 Billion ≈ $643.20 Million |
+1.95% |
| 2019-12-31 | NT$20.02 Billion ≈ $630.88 Million |
+0.15% |
| 2018-12-31 | NT$19.99 Billion ≈ $629.93 Million |
-0.16% |
| 2017-12-31 | NT$20.03 Billion ≈ $630.94 Million |
+1.20% |
| 2016-12-31 | NT$19.79 Billion ≈ $623.47 Million |
-0.35% |
| 2015-12-31 | NT$19.86 Billion ≈ $625.67 Million |
+0.03% |
| 2014-12-31 | NT$19.85 Billion ≈ $625.50 Million |
+2.01% |
| 2013-12-31 | NT$19.46 Billion ≈ $613.15 Million |
-1.36% |
| 2012-12-31 | NT$19.73 Billion ≈ $621.64 Million |
+1.59% |
| 2011-12-31 | NT$19.42 Billion ≈ $611.90 Million |
-0.33% |
| 2010-12-31 | NT$19.49 Billion ≈ $613.89 Million |
+3.57% |
| 2009-12-31 | NT$18.81 Billion ≈ $592.70 Million |
+2.20% |
| 2008-12-31 | NT$18.41 Billion ≈ $579.92 Million |
-3.05% |
| 2007-12-31 | NT$18.99 Billion ≈ $598.17 Million |
+3.34% |
| 2006-12-31 | NT$18.37 Billion ≈ $578.84 Million |
+0.75% |
| 2005-12-31 | NT$18.24 Billion ≈ $574.53 Million |
+8.62% |
| 2004-12-31 | NT$16.79 Billion ≈ $528.92 Million |
+0.81% |
| 2003-12-31 | NT$16.65 Billion ≈ $524.69 Million |
+0.60% |
| 2002-12-31 | NT$16.55 Billion ≈ $521.57 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to BES Engineering Co'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 301.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$3.92 Billion | 17.68% |
| Common Stock | NT$15.31 Billion | 69.04% |
| Other Comprehensive Income | NT$2.92 Billion | 13.16% |
| Other Components | NT$27.57 Million | 0.12% |
| Total Equity | NT$22.18 Billion | 100.00% |
BES Engineering Co Competitors by Market Cap
The table below lists competitors of BES Engineering Co ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SPAR Group Ltd
JSE:SPP
|
$661.28 Million |
|
Green Dot Corporation
NYSE:GDOT
|
$661.58 Million |
|
FinVolution Group
F:PP3
|
$661.59 Million |
|
Huali Industries
SHG:603038
|
$662.08 Million |
|
Highpeak Energy Acquisition Corp
NASDAQ:HPK
|
$660.93 Million |
|
Beijing Hualian Department Store Co Ltd
SHE:000882
|
$660.93 Million |
|
Youyou Foods Co Ltd
SHG:603697
|
$660.90 Million |
|
MLP Group S.A.
WAR:MLG
|
$660.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BES Engineering Co's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 22,460,855,000 to 22,175,131,000, a change of -285,724,000 (-1.3%).
- Net income of 717,244,000 contributed positively to equity growth.
- Dividend payments of 796,068,000 reduced retained earnings.
- Other comprehensive income decreased equity by 142,518,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$717.24 Million | +3.23% |
| Dividends Paid | NT$796.07 Million | -3.59% |
| Other Comprehensive Income | NT$-142.52 Million | -0.64% |
| Other Changes | NT$-64.38 Million | -0.29% |
| Total Change | NT$- | -1.27% |
Book Value vs Market Value Analysis
This analysis compares BES Engineering Co'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: 0.90x
- 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 1.09x to 0.90x 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$11.98 | NT$13.05 | x |
| 2007-12-31 | NT$12.38 | NT$13.05 | x |
| 2008-12-31 | NT$11.99 | NT$13.05 | x |
| 2009-12-31 | NT$12.26 | NT$13.05 | x |
| 2010-12-31 | NT$12.69 | NT$13.05 | x |
| 2011-12-31 | NT$12.64 | NT$13.05 | x |
| 2012-12-31 | NT$12.84 | NT$13.05 | x |
| 2013-12-31 | NT$12.65 | NT$13.05 | x |
| 2014-12-31 | NT$12.15 | NT$13.05 | x |
| 2015-12-31 | NT$12.18 | NT$13.05 | x |
| 2016-12-31 | NT$12.81 | NT$13.05 | x |
| 2017-12-31 | NT$12.96 | NT$13.05 | x |
| 2018-12-31 | NT$12.96 | NT$13.05 | x |
| 2019-12-31 | NT$12.99 | NT$13.05 | x |
| 2020-12-31 | NT$13.25 | NT$13.05 | x |
| 2021-12-31 | NT$14.86 | NT$13.05 | x |
| 2022-12-31 | NT$14.73 | NT$13.05 | x |
| 2023-12-31 | NT$14.65 | NT$13.05 | x |
| 2024-12-31 | NT$14.47 | NT$13.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BES Engineering Co utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.23%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.01%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 2.93x
- Recent ROE (3.23%) is above the historical average (2.46%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 0.48% | 0.73% | 0.26x | 2.56x | NT$-1.58 Billion |
| 2003 | 0.56% | 0.82% | 0.27x | 2.48x | NT$-1.57 Billion |
| 2004 | 0.74% | 1.07% | 0.29x | 2.36x | NT$-1.55 Billion |
| 2005 | 2.03% | 2.47% | 0.39x | 2.12x | NT$-1.44 Billion |
| 2006 | 4.33% | 5.63% | 0.39x | 2.00x | NT$-1.03 Billion |
| 2007 | 2.97% | 4.19% | 0.38x | 1.85x | NT$-1.33 Billion |
| 2008 | 0.21% | 0.26% | 0.43x | 1.88x | NT$-1.79 Billion |
| 2009 | 1.12% | 1.49% | 0.40x | 1.88x | NT$-1.66 Billion |
| 2010 | 4.24% | 5.03% | 0.44x | 1.92x | NT$-1.12 Billion |
| 2011 | 0.86% | 1.14% | 0.38x | 1.98x | NT$-1.76 Billion |
| 2012 | 1.98% | 2.82% | 0.35x | 2.00x | NT$-1.57 Billion |
| 2013 | 1.32% | 1.78% | 0.37x | 2.01x | NT$-1.68 Billion |
| 2014 | 2.62% | 3.72% | 0.36x | 1.94x | NT$-1.45 Billion |
| 2015 | 2.66% | 3.34% | 0.42x | 1.88x | NT$-1.45 Billion |
| 2016 | 1.36% | 2.81% | 0.24x | 2.00x | NT$-1.70 Billion |
| 2017 | 1.33% | 2.70% | 0.26x | 1.92x | NT$-1.72 Billion |
| 2018 | 1.83% | 3.28% | 0.28x | 2.00x | NT$-1.62 Billion |
| 2019 | 1.57% | 2.49% | 0.29x | 2.17x | NT$-1.68 Billion |
| 2020 | 3.05% | 4.59% | 0.32x | 2.07x | NT$-1.41 Billion |
| 2021 | 11.72% | 15.57% | 0.36x | 2.11x | NT$393.21 Million |
| 2022 | 3.63% | 5.44% | 0.33x | 2.00x | NT$-1.44 Billion |
| 2023 | 2.78% | 3.30% | 0.34x | 2.50x | NT$-1.62 Billion |
| 2024 | 3.23% | 3.01% | 0.37x | 2.93x | NT$-1.50 Billion |
Industry Comparison
This section compares BES Engineering Co's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $4,361,544,111
- Average return on equity (ROE) among peers: 10.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BES Engineering Co (2515) | NT$22.30 Billion | 0.48% | 1.95x | $661.08 Million |
| Tri Ocean Textile Co Ltd (1472) | $1.42 Billion | 9.97% | 0.87x | $147.67 Million |
| United Integrated Services Co Ltd (2404) | $4.36 Billion | 2.90% | 0.88x | $5.64 Billion |
| Long Bon International Co Ltd (2514) | $8.15 Billion | 2.95% | 0.61x | $150.06 Million |
| New Asia Construction & Development Corp (2516) | $1.82 Billion | 2.97% | 2.45x | $97.31 Million |
| Delpha Construction Co Ltd (2530) | $2.85 Billion | 11.76% | 1.16x | $551.78 Million |
| Da-Cin Construction Co Ltd (2535) | $8.83 Billion | 13.87% | 1.48x | $590.36 Million |
| Hwang Chang General Contractor Co Ltd (2543) | $1.08 Billion | 8.97% | 2.20x | $783.30 Million |
| Kedge Construction Co Ltd (2546) | $2.53 Billion | 16.09% | 1.76x | $347.48 Million |
| Ruentex Engineering & Construction Co Ltd (2597) | $8.21 Billion | 22.43% | 1.12x | $1.54 Billion |
About BES Engineering Co
BES Engineering Corporation engages in the construction and engineering businesses. It operates through Construction Engineering, Construction and Development, and Other segments. The company is involved in providing security services, reality and physical sensing application, consulting, apartment building management, parking lot management, business management consulting services; music exhibit… Read more