U-Ming Marine Transport Corp
U-Ming Marine Transport Corporation, together with its subsidiaries, engages in the marine transportation and investment businesses worldwide. The company owns and operates ships that carry various commodities, such as cement, crude oil, iron ore, coal, and grain shipments. It operates 73 vessels with a total deadweight of 8.8 million tons. The company was formerly known as Yue Ming Transportatio… Read more
U-Ming Marine Transport Corp (2606) - Net Assets
Latest net assets as of September 2025: NT$35.44 Billion TWD
Based on the latest financial reports, U-Ming Marine Transport Corp (2606) has net assets worth NT$35.44 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$82.34 Billion) and total liabilities (NT$46.90 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$35.44 Billion |
| % of Total Assets | 43.05% |
| Annual Growth Rate | 6.42% |
| 5-Year Change | 74.58% |
| 10-Year Change | 46.67% |
| Growth Volatility | 13.98 |
U-Ming Marine Transport Corp - Net Assets Trend (2000–2024)
This chart illustrates how U-Ming Marine Transport Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for U-Ming Marine Transport Corp (2000–2024)
The table below shows the annual net assets of U-Ming Marine Transport Corp from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$40.46 Billion | +19.62% |
| 2023-12-31 | NT$33.82 Billion | +2.80% |
| 2022-12-31 | NT$32.90 Billion | +27.23% |
| 2021-12-31 | NT$25.86 Billion | +11.58% |
| 2020-12-31 | NT$23.18 Billion | -13.67% |
| 2019-12-31 | NT$26.84 Billion | +4.76% |
| 2018-12-31 | NT$25.63 Billion | +17.33% |
| 2017-12-31 | NT$21.84 Billion | -11.04% |
| 2016-12-31 | NT$24.55 Billion | -11.01% |
| 2015-12-31 | NT$27.59 Billion | -2.49% |
| 2014-12-31 | NT$28.29 Billion | +10.94% |
| 2013-12-31 | NT$25.50 Billion | +4.35% |
| 2012-12-31 | NT$24.44 Billion | -8.98% |
| 2011-12-31 | NT$26.85 Billion | -3.07% |
| 2010-12-31 | NT$27.70 Billion | -1.71% |
| 2009-12-31 | NT$28.18 Billion | +5.20% |
| 2008-12-31 | NT$26.79 Billion | +8.01% |
| 2007-12-31 | NT$24.80 Billion | +21.46% |
| 2006-12-31 | NT$20.42 Billion | +6.31% |
| 2005-12-31 | NT$19.21 Billion | +23.49% |
| 2004-12-31 | NT$15.55 Billion | +44.56% |
| 2003-12-31 | NT$10.76 Billion | +23.96% |
| 2002-12-31 | NT$8.68 Billion | -1.84% |
| 2001-12-31 | NT$8.84 Billion | -2.62% |
| 2000-12-31 | NT$9.08 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to U-Ming Marine Transport Corp'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 2156.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$17.25 Billion | 42.63% |
| Common Stock | NT$8.45 Billion | 20.89% |
| Other Comprehensive Income | NT$14.74 Billion | 36.43% |
| Other Components | NT$22.51 Million | 0.06% |
| Total Equity | NT$40.46 Billion | 100.00% |
U-Ming Marine Transport Corp Competitors by Market Cap
The table below lists competitors of U-Ming Marine Transport Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SES Imagotag
LSE:0OA4
|
$907.74 Million |
|
Winnebago Industries Inc
NYSE:WGO
|
$908.68 Million |
|
CADELER A/S DK 1
F:CA2
|
$909.00 Million |
|
SpartanNash Co
NASDAQ:SPTN
|
$909.22 Million |
|
Jiangsu Changbao Steeltube Co Ltd
SHE:002478
|
$907.31 Million |
|
Zhejiang DunAn Artificial Environment Co Ltd
SHE:002011
|
$907.14 Million |
|
Natco Pharma Limited
NSE:NATCOPHARM
|
$906.95 Million |
|
Longwell Co
TWO:6290
|
$906.71 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in U-Ming Marine Transport Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 33,697,999,000 to 40,460,800,000, a change of 6,762,801,000 (20.1%).
- Net income of 4,681,466,000 contributed positively to equity growth.
- Dividend payments of 2,028,136,000 reduced retained earnings.
- Other comprehensive income increased equity by 11,227,142,000.
- Other factors decreased equity by 7,117,671,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$4.68 Billion | +11.57% |
| Dividends Paid | NT$2.03 Billion | -5.01% |
| Other Comprehensive Income | NT$11.23 Billion | +27.75% |
| Other Changes | NT$-7.12 Billion | -17.59% |
| Total Change | NT$- | 20.07% |
Book Value vs Market Value Analysis
This analysis compares U-Ming Marine Transport Corp'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: 1.29x
- 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 2.59x to 1.29x 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$23.80 | NT$61.60 | x |
| 2007-12-31 | NT$28.91 | NT$61.60 | x |
| 2008-12-31 | NT$31.17 | NT$61.60 | x |
| 2009-12-31 | NT$32.81 | NT$61.60 | x |
| 2010-12-31 | NT$32.25 | NT$61.60 | x |
| 2011-12-31 | NT$31.26 | NT$61.60 | x |
| 2012-12-31 | NT$28.46 | NT$61.60 | x |
| 2013-12-31 | NT$29.70 | NT$61.60 | x |
| 2014-12-31 | NT$32.95 | NT$61.60 | x |
| 2015-12-31 | NT$32.24 | NT$61.60 | x |
| 2016-12-31 | NT$29.05 | NT$61.60 | x |
| 2017-12-31 | NT$25.84 | NT$61.60 | x |
| 2018-12-31 | NT$30.30 | NT$61.60 | x |
| 2019-12-31 | NT$31.74 | NT$61.60 | x |
| 2020-12-31 | NT$27.41 | NT$61.60 | x |
| 2021-12-31 | NT$30.57 | NT$61.60 | x |
| 2022-12-31 | NT$38.65 | NT$61.60 | x |
| 2023-12-31 | NT$39.85 | NT$61.60 | x |
| 2024-12-31 | NT$47.83 | NT$61.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently U-Ming Marine Transport Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.57%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.65%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 2.18x
- Recent ROE (11.57%) is below the historical average (14.44%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 9.20% | 14.74% | 0.26x | 2.44x | NT$-72.75 Million |
| 2001 | 5.83% | 9.40% | 0.30x | 2.10x | NT$-368.93 Million |
| 2002 | 2.61% | 4.71% | 0.26x | 2.11x | NT$-641.20 Million |
| 2003 | 21.37% | 30.53% | 0.40x | 1.74x | NT$1.22 Billion |
| 2004 | 43.99% | 53.54% | 0.59x | 1.40x | NT$5.29 Billion |
| 2005 | 31.32% | 53.07% | 0.45x | 1.30x | NT$4.10 Billion |
| 2006 | 23.68% | 50.62% | 0.35x | 1.35x | NT$2.79 Billion |
| 2007 | 36.49% | 60.50% | 0.41x | 1.46x | NT$6.57 Billion |
| 2008 | 38.96% | 57.43% | 0.44x | 1.52x | NT$7.76 Billion |
| 2009 | 20.10% | 45.03% | 0.27x | 1.64x | NT$2.85 Billion |
| 2010 | 24.09% | 58.69% | 0.24x | 1.68x | NT$3.90 Billion |
| 2011 | 10.16% | 31.42% | 0.19x | 1.75x | NT$43.44 Million |
| 2012 | 7.38% | 22.66% | 0.17x | 1.92x | NT$-639.61 Million |
| 2013 | 6.14% | 21.15% | 0.14x | 2.02x | NT$-983.28 Million |
| 2014 | 7.36% | 22.79% | 0.14x | 2.24x | NT$-746.04 Million |
| 2015 | 2.99% | 10.40% | 0.12x | 2.31x | NT$-1.93 Billion |
| 2016 | -3.58% | -13.48% | 0.11x | 2.37x | NT$-3.33 Billion |
| 2017 | 4.58% | 11.76% | 0.16x | 2.47x | NT$-1.18 Billion |
| 2018 | 6.51% | 14.48% | 0.18x | 2.47x | NT$-893.71 Million |
| 2019 | 6.04% | 16.11% | 0.16x | 2.32x | NT$-1.06 Billion |
| 2020 | 3.79% | 10.33% | 0.14x | 2.62x | NT$-1.44 Billion |
| 2021 | 18.92% | 34.92% | 0.22x | 2.41x | NT$2.31 Billion |
| 2022 | 13.47% | 31.08% | 0.19x | 2.34x | NT$1.13 Billion |
| 2023 | 8.13% | 19.05% | 0.18x | 2.39x | NT$-630.88 Million |
| 2024 | 11.57% | 28.65% | 0.19x | 2.18x | NT$635.39 Million |
Industry Comparison
This section compares U-Ming Marine Transport Corp's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $18,419,802,882
- Average return on equity (ROE) among peers: 8.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| U-Ming Marine Transport Corp (2606) | NT$35.44 Billion | 9.20% | 1.32x | $907.57 Million |
| Evergreen Marine Corp Taiwan Ltd (2603) | $70.22 Billion | 21.60% | 0.85x | $11.43 Billion |
| Sincere Navigation Corp (2605) | $14.65 Billion | 14.36% | 0.77x | $451.14 Million |
| Yang Ming Marine Transport Corp (2609) | $36.70 Billion | 0.14% | 2.79x | $4.18 Billion |
| Tze Shin International Co Ltd (2611) | $2.79 Billion | 0.36% | 0.57x | $49.39 Million |
| China Container Terminal Corp (2613) | $906.02 Million | 3.67% | 3.42x | $55.33 Million |
| Wan Hai Lines Ltd (2615) | $34.18 Billion | 7.44% | 1.24x | $3.69 Billion |
| Taiwan Navigation Co Ltd (2617) | $3.75 Billion | 4.56% | 0.51x | $217.02 Million |
| Wisdom Marine Lines Co Ltd (2637) | $1.26 Billion | 23.34% | 1.37x | $830.08 Million |
| Franbo Lines (2641) | $1.32 Billion | 4.00% | 1.46x | $142.71 Million |