First Steamship Co Ltd Net Assets
First Steamship Co Ltd net assets. Based on the latest financial reports, First Steamship Co Ltd (2601) has net assets worth NT$7.45 Billion TWD (≈ $234.71 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$11.40 Billion ≈ $359.32 Million USD) and total liabilities (NT$3.96 Billion ≈ $124.61 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. Also explore First Steamship Co Ltd (2601) equity growth momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$7.45 Billion |
| % of Total Assets | 65.32% |
| Annual Growth Rate | 5.13% |
| 5-Year Change | -43.84% |
| 10-Year Change | -30.16% |
| Growth Volatility | 20.32 |
Net Assets of First Steamship Co Ltd (2002–2025)
Net assets of First Steamship Co Ltd from 2002 to 2025. This chart illustrates how First Steamship Co Ltd's net assets have evolved over time, based on quarterly financial data. See debt-free asset ratio of First Steamship Co Ltd to measure how much of total assets are equity-financed.
Annual Net Assets for First Steamship Co Ltd (2002–2025)
The table below shows the annual net assets of First Steamship Co Ltd from 2002 to 2025. For live market cap and overall valuation, see First Steamship Co Ltd (2601) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$7.45 Billion ≈ $234.62 Million |
-32.92% |
| 2024-12-31 | NT$11.10 Billion ≈ $349.75 Million |
+1.41% |
| 2023-12-31 | NT$10.95 Billion ≈ $344.88 Million |
-19.78% |
| 2022-12-31 | NT$13.65 Billion ≈ $429.89 Million |
+2.91% |
| 2021-12-31 | NT$13.26 Billion ≈ $417.73 Million |
+9.48% |
| 2020-12-31 | NT$12.11 Billion ≈ $381.57 Million |
-8.65% |
| 2019-12-31 | NT$13.26 Billion ≈ $417.72 Million |
+1.37% |
| 2018-12-31 | NT$13.08 Billion ≈ $412.08 Million |
+1.18% |
| 2017-12-31 | NT$12.93 Billion ≈ $407.26 Million |
+21.23% |
| 2016-12-31 | NT$10.66 Billion ≈ $335.95 Million |
-17.13% |
| 2015-12-31 | NT$12.87 Billion ≈ $405.40 Million |
-12.29% |
| 2014-12-31 | NT$14.67 Billion ≈ $462.21 Million |
+6.80% |
| 2013-12-31 | NT$13.74 Billion ≈ $432.79 Million |
+2.70% |
| 2012-12-31 | NT$13.38 Billion ≈ $421.43 Million |
+18.37% |
| 2011-12-31 | NT$11.30 Billion ≈ $356.04 Million |
+27.63% |
| 2010-12-31 | NT$8.85 Billion ≈ $278.95 Million |
+8.99% |
| 2009-12-31 | NT$8.12 Billion ≈ $255.94 Million |
+13.17% |
| 2008-12-31 | NT$7.18 Billion ≈ $226.15 Million |
+55.50% |
| 2007-12-31 | NT$4.62 Billion ≈ $145.43 Million |
+40.31% |
| 2006-12-31 | NT$3.29 Billion ≈ $103.65 Million |
+31.17% |
| 2005-12-31 | NT$2.51 Billion ≈ $79.02 Million |
+14.43% |
| 2004-12-31 | NT$2.19 Billion ≈ $69.06 Million |
-21.57% |
| 2003-12-31 | NT$2.79 Billion ≈ $88.05 Million |
+18.61% |
| 2002-12-31 | NT$2.36 Billion ≈ $74.23 Million |
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Equity Component Analysis
This analysis shows how different components contribute to First Steamship 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 decreased by 169987400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
First Steamship Co Ltd Net Assets Breakdown (December 2025)
First Steamship Co Ltd net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$8.25 Billion | 111.99% |
| Other Comprehensive Income | NT$460.69 Million | 6.26% |
| Other Components | NT$355.90 Million | 4.83% |
| Total Equity | NT$7.36 Billion | 100.00% |
First Steamship Co Ltd Competitors by Market Cap
The table below lists competitors of First Steamship Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sedana Medical AB
ST:SEDANA
|
$99.42 Million |
|
Control Print Limited
NSE:CONTROLPR
|
$99.43 Million |
|
Tait Marketing & Distribution Co Ltd
TWO:5902
|
$99.44 Million |
|
Ruentex Materials Co Ltd
TW:8463
|
$99.48 Million |
|
Goknur Gida Maddeleri Enerji Imalati Ithalat Ihracat Ticaret ve Sanayi A.S.
IS:GOKNR
|
$99.40 Million |
|
Bank Capital Indonesia Tbk
JK:BACA
|
$99.38 Million |
|
SD Standard Drilling PLC
OL:SDSD
|
$99.34 Million |
|
Themis Medicare Limited
NSE:THEMISMED
|
$99.33 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Steamship Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,020,341,000 to 7,364,475,000, a change of -1,655,866,000 (-18.4%).
- Net loss of 1,343,910,000 reduced equity.
- Other comprehensive income increased equity by 236,268,000.
- Other factors decreased equity by 548,224,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-1.34 Billion | -18.25% |
| Other Comprehensive Income | NT$236.27 Million | +3.21% |
| Other Changes | NT$-548.22 Million | -7.44% |
| Total Change | NT$- | -18.36% |
Book Value vs Market Value Analysis
This analysis compares First Steamship 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: 0.59x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | NT$9.13 | NT$5.46 | x |
| 2007-12-31 | NT$11.53 | NT$5.46 | x |
| 2008-12-31 | NT$17.49 | NT$5.46 | x |
| 2009-12-31 | NT$19.68 | NT$5.46 | x |
| 2010-12-31 | NT$19.69 | NT$5.46 | x |
| 2011-12-31 | NT$23.65 | NT$5.46 | x |
| 2012-12-31 | NT$25.46 | NT$5.46 | x |
| 2013-12-31 | NT$21.44 | NT$5.46 | x |
| 2014-12-31 | NT$22.68 | NT$5.46 | x |
| 2015-12-31 | NT$19.15 | NT$5.46 | x |
| 2016-12-31 | NT$16.22 | NT$5.46 | x |
| 2017-12-31 | NT$14.64 | NT$5.46 | x |
| 2018-12-31 | NT$12.67 | NT$5.46 | x |
| 2019-12-31 | NT$11.32 | NT$5.46 | x |
| 2020-12-31 | NT$12.47 | NT$5.46 | x |
| 2021-12-31 | NT$12.84 | NT$5.46 | x |
| 2022-12-31 | NT$12.76 | NT$5.46 | x |
| 2023-12-31 | NT$10.58 | NT$5.46 | x |
| 2024-12-31 | NT$10.87 | NT$5.46 | x |
| 2025-12-31 | NT$9.27 | NT$5.46 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Steamship Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -18.25%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -90.23%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 1.60x
- Recent ROE (-18.25%) is below the historical average (3.10%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 1.45% | 3.04% | 0.32x | 1.48x | NT$-238.97 Million |
| 2005 | 10.01% | 22.06% | 0.35x | 1.31x | NT$293.50K |
| 2006 | 11.33% | 6.89% | 0.59x | 2.80x | NT$38.25 Million |
| 2007 | 21.78% | 8.11% | 0.77x | 3.49x | NT$429.87 Million |
| 2008 | 41.60% | 14.56% | 1.00x | 2.85x | NT$1.73 Billion |
| 2009 | 16.35% | 5.59% | 0.88x | 3.33x | NT$390.93 Million |
| 2010 | 15.97% | 4.92% | 0.97x | 3.34x | NT$392.80 Million |
| 2011 | 7.47% | 2.03% | 1.01x | 3.64x | NT$-184.57 Million |
| 2012 | 6.11% | 1.65% | 0.99x | 3.73x | NT$-310.29 Million |
| 2013 | -3.26% | -3.58% | 0.24x | 3.79x | NT$-1.18 Billion |
| 2014 | -0.21% | -0.22% | 0.22x | 4.13x | NT$-967.27 Million |
| 2015 | -18.60% | -17.52% | 0.21x | 5.02x | NT$-2.29 Billion |
| 2016 | -16.57% | -14.26% | 0.21x | 5.47x | NT$-1.74 Billion |
| 2017 | 6.61% | 7.74% | 0.21x | 4.10x | NT$-289.46 Million |
| 2018 | 0.07% | 0.08% | 0.23x | 3.96x | NT$-864.84 Million |
| 2019 | 15.36% | 17.27% | 0.21x | 4.19x | NT$490.24 Million |
| 2020 | -3.80% | -4.99% | 0.18x | 4.30x | NT$-1.17 Billion |
| 2021 | 0.54% | 0.77% | 0.18x | 3.97x | NT$-928.72 Million |
| 2022 | -3.38% | -5.62% | 0.18x | 3.40x | NT$-1.41 Billion |
| 2023 | -19.12% | -30.34% | 0.16x | 4.05x | NT$-2.54 Billion |
| 2024 | -3.20% | -5.95% | 0.14x | 3.87x | NT$-1.19 Billion |
| 2025 | -18.25% | -90.23% | 0.13x | 1.60x | NT$-2.08 Billion |
Industry Comparison
This section compares First Steamship Co Ltd's net assets metrics with peer companies in the Department Stores industry.
Industry Context
- Industry: Department Stores
- Average net assets among peers: $6,070,532,143
- Average return on equity (ROE) among peers: 11.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Steamship Co Ltd (2601) | NT$7.45 Billion | 1.45% | 0.53x | $99.41 Million |
| Shin Shin Co Ltd (2901) | $845.89 Million | 3.81% | 0.17x | $56.50 Million |
| Far Eastern Department Stores Ltd (2903) | $23.37 Billion | 4.15% | 2.33x | $967.55 Million |
| Tonlin Department Store Co Ltd (2910) | $1.90 Billion | 12.55% | 0.75x | $130.14 Million |
| Eslite Spectrum (2926) | $1.13 Billion | 4.86% | 11.81x | $44.27 Million |
| Taiwan FamilyMart Co Ltd (5903) | $4.66 Billion | 21.57% | 2.59x | $1.30 Billion |
| Poya International Co Ltd (5904) | $366.36 Million | 25.64% | 2.06x | $243.80 Million |
| Grand Ocean Retail Group Ltd (5907) | $10.23 Billion | 9.64% | 1.48x | $24.18 Million |
About First Steamship Co Ltd
First Steamship Co., Ltd. engages in domestic and international marine transportation and related businesses in Taiwan, Mainland China, and internationally. It operates through four segments, Marine Transportation, Investment, Department Store, and Rental. The company engages in dry bulk shipping operations that include the transportation of various bulk materials comprising iron ores, coal, grai… Read more