Kedge Construction Co Ltd (2546) - Net Assets
Based on the latest financial reports, Kedge Construction Co Ltd (2546) has net assets worth NT$5.68 Billion TWD (≈ $178.84 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$14.84 Billion ≈ $467.41 Million USD) and total liabilities (NT$9.16 Billion ≈ $288.57 Million 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 2546 asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$5.68 Billion |
| % of Total Assets | 38.26% |
| Annual Growth Rate | 9.28% |
| 5-Year Change | 74.0% |
| 10-Year Change | 162.43% |
| Growth Volatility | 18.6 |
Kedge Construction Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Kedge Construction Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Kedge Construction Co Ltd total assets for the complete picture of this company's asset base.
Annual Net Assets for Kedge Construction Co Ltd (2002–2024)
The table below shows the annual net assets of Kedge Construction Co Ltd from 2002 to 2024. For live valuation and market cap data, see Kedge Construction Co Ltd (2546) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$5.34 Billion ≈ $168.26 Million |
+11.12% |
| 2023-12-31 | NT$4.81 Billion ≈ $151.41 Million |
+14.80% |
| 2022-12-31 | NT$4.19 Billion ≈ $131.90 Million |
+19.23% |
| 2021-12-31 | NT$3.51 Billion ≈ $110.62 Million |
+14.40% |
| 2020-12-31 | NT$3.07 Billion ≈ $96.70 Million |
+11.97% |
| 2019-12-31 | NT$2.74 Billion ≈ $86.36 Million |
+8.22% |
| 2018-12-31 | NT$2.53 Billion ≈ $79.80 Million |
+7.57% |
| 2017-12-31 | NT$2.35 Billion ≈ $74.18 Million |
+6.36% |
| 2016-12-31 | NT$2.21 Billion ≈ $69.75 Million |
+8.78% |
| 2015-12-31 | NT$2.04 Billion ≈ $64.12 Million |
-5.72% |
| 2014-12-31 | NT$2.16 Billion ≈ $68.01 Million |
+1.12% |
| 2013-12-31 | NT$2.13 Billion ≈ $67.25 Million |
+7.78% |
| 2012-12-31 | NT$1.98 Billion ≈ $62.40 Million |
+5.44% |
| 2011-12-31 | NT$1.88 Billion ≈ $59.18 Million |
-5.66% |
| 2010-12-31 | NT$1.99 Billion ≈ $62.73 Million |
+80.38% |
| 2009-12-31 | NT$1.10 Billion ≈ $34.78 Million |
+36.64% |
| 2008-12-31 | NT$807.91 Million ≈ $25.45 Million |
-5.02% |
| 2007-12-31 | NT$850.58 Million ≈ $26.80 Million |
+1.06% |
| 2006-12-31 | NT$841.62 Million ≈ $26.52 Million |
+18.56% |
| 2005-12-31 | NT$709.84 Million ≈ $22.36 Million |
+6.39% |
| 2004-12-31 | NT$667.18 Million ≈ $21.02 Million |
-18.43% |
| 2003-12-31 | NT$817.89 Million ≈ $25.77 Million |
+7.89% |
| 2002-12-31 | NT$758.07 Million ≈ $23.88 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Kedge Construction 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 10930.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$3.21 Billion | 60.08% |
| Common Stock | NT$1.23 Billion | 23.06% |
| Other Comprehensive Income | NT$381.92 Million | 7.15% |
| Other Components | NT$518.81 Million | 9.71% |
| Total Equity | NT$5.34 Billion | 100.00% |
Kedge Construction Co Ltd Competitors by Market Cap
The table below lists competitors of Kedge Construction Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vizionfocus Inc.
TW:4771
|
$347.59 Million |
|
Balmer Lawrie & Company Limited
NSE:BALMLAWRIE
|
$347.66 Million |
|
Nh Investment And Securities 1p
KO:005945
|
$347.85 Million |
|
Pum-Tech Korea Co. Ltd
KQ:251970
|
$347.85 Million |
|
Aurelia Metals Ltd
AU:AMI
|
$347.30 Million |
|
Navneet Education Limited
NSE:NAVNETEDUL
|
$347.27 Million |
|
Amorepacific Corp Pref
KO:090435
|
$347.17 Million |
|
AMTD Digital Inc.
NYSE:HKD
|
$346.76 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kedge Construction Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,805,673,000 to 5,340,289,000, a change of 534,616,000 (11.1%).
- Net income of 874,356,000 contributed positively to equity growth.
- Dividend payments of 482,886,000 reduced retained earnings.
- Other comprehensive income increased equity by 140,173,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$874.36 Million | +16.37% |
| Dividends Paid | NT$482.89 Million | -9.04% |
| Other Comprehensive Income | NT$140.17 Million | +2.62% |
| Other Changes | NT$2.97 Million | +0.06% |
| Total Change | NT$- | 11.12% |
Book Value vs Market Value Analysis
This analysis compares Kedge Construction 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: 2.08x
- 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 7.35x to 2.08x 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$11.50 | NT$84.50 | x |
| 2010-12-31 | NT$21.17 | NT$84.50 | x |
| 2011-12-31 | NT$14.95 | NT$84.50 | x |
| 2012-12-31 | NT$15.47 | NT$84.50 | x |
| 2013-12-31 | NT$16.67 | NT$84.50 | x |
| 2014-12-31 | NT$16.86 | NT$84.50 | x |
| 2015-12-31 | NT$15.89 | NT$84.50 | x |
| 2016-12-31 | NT$17.26 | NT$84.50 | x |
| 2017-12-31 | NT$18.36 | NT$84.50 | x |
| 2018-12-31 | NT$19.74 | NT$84.50 | x |
| 2019-12-31 | NT$21.38 | NT$84.50 | x |
| 2020-12-31 | NT$23.82 | NT$84.50 | x |
| 2021-12-31 | NT$27.20 | NT$84.50 | x |
| 2022-12-31 | NT$32.24 | NT$84.50 | x |
| 2023-12-31 | NT$36.41 | NT$84.50 | x |
| 2024-12-31 | NT$40.55 | NT$84.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kedge Construction Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.37%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.14%
- • Asset Turnover: 1.09x
- • Equity Multiplier: 2.45x
- Recent ROE (16.37%) is above the historical average (11.94%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 0.70% | 0.15% | 1.72x | 2.70x | NT$-70.51 Million |
| 2003 | 0.12% | 0.06% | 0.84x | 2.42x | NT$-77.85 Million |
| 2005 | 8.85% | 1.51% | 1.70x | 3.45x | NT$-7.85 Million |
| 2006 | 9.24% | 4.49% | 0.92x | 2.23x | NT$-6.19 Million |
| 2007 | 9.51% | 2.90% | 1.38x | 2.37x | NT$-4.06 Million |
| 2008 | 6.03% | 1.62% | 1.53x | 2.43x | NT$-31.98 Million |
| 2009 | 23.18% | 6.45% | 1.30x | 2.76x | NT$144.77 Million |
| 2010 | 13.55% | 4.35% | 1.43x | 2.18x | NT$70.49 Million |
| 2011 | 6.30% | 1.82% | 1.49x | 2.33x | NT$-69.41 Million |
| 2012 | 6.00% | 1.71% | 1.51x | 2.33x | NT$-79.13 Million |
| 2013 | 8.33% | 2.98% | 1.36x | 2.06x | NT$-35.64 Million |
| 2014 | 8.24% | 3.22% | 1.22x | 2.10x | NT$-38.00 Million |
| 2015 | 6.60% | 2.29% | 1.20x | 2.39x | NT$-69.11 Million |
| 2016 | 9.24% | 2.46% | 1.53x | 2.46x | NT$-16.87 Million |
| 2017 | 12.54% | 3.53% | 1.27x | 2.80x | NT$59.88 Million |
| 2018 | 16.09% | 3.57% | 1.64x | 2.76x | NT$154.23 Million |
| 2019 | 14.68% | 3.51% | 1.38x | 3.02x | NT$128.25 Million |
| 2020 | 20.41% | 4.43% | 1.50x | 3.07x | NT$319.53 Million |
| 2021 | 21.09% | 6.87% | 1.16x | 2.64x | NT$389.38 Million |
| 2022 | 25.03% | 7.38% | 1.20x | 2.82x | NT$629.31 Million |
| 2023 | 20.61% | 6.93% | 1.14x | 2.62x | NT$509.78 Million |
| 2024 | 16.37% | 6.14% | 1.09x | 2.45x | NT$340.33 Million |
Industry Comparison
This section compares Kedge Construction Co Ltd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $6,348,501,889
- Average return on equity (ROE) among peers: 8.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kedge Construction Co Ltd (2546) | NT$5.68 Billion | 0.70% | 1.61x | $347.48 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 |
| BES Engineering Co (2515) | $20.42 Billion | 3.03% | 1.06x | $661.08 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 |
| Ruentex Engineering & Construction Co Ltd (2597) | $8.21 Billion | 22.43% | 1.12x | $1.54 Billion |
About Kedge Construction Co Ltd
Kedge Construction Co., Ltd. constructs, develops, leases, and sells housing and building properties in Taiwan. The company engages in fire safety equipment installation, as well as involved in and general investment related activities. It also engages in undertaking of construction related business. Kedge Construction Co., Ltd. was founded in 1971 and is based in Taipei, Taiwan.