Yang Ming Marine Transport Corp (2609) - Net Assets
Based on the latest financial reports, Yang Ming Marine Transport Corp (2609) has net assets worth NT$329.77 Billion TWD (≈ $10.39 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$460.18 Billion ≈ $14.50 Billion USD) and total liabilities (NT$130.41 Billion ≈ $4.11 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 2609 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$329.77 Billion |
| % of Total Assets | 71.66% |
| Annual Growth Rate | 10.82% |
| 5-Year Change | 39.38% |
| 10-Year Change | 1906.34% |
| Growth Volatility | 110.41 |
Yang Ming Marine Transport Corp - Net Assets Trend (2000–2025)
This chart illustrates how Yang Ming Marine Transport Corp's net assets have evolved over time, based on quarterly financial data. See defensive interval ratio of Yang Ming Marine Transport Corp to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Yang Ming Marine Transport Corp (2000–2025)
The table below shows the annual net assets of Yang Ming Marine Transport Corp from 2000 to 2025. For live valuation and market cap data, see 2609 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$326.60 Billion ≈ $10.29 Billion |
-4.31% |
| 2024-12-31 | NT$341.31 Billion ≈ $10.75 Billion |
+22.91% |
| 2023-12-31 | NT$277.70 Billion ≈ $8.75 Billion |
-19.22% |
| 2022-12-31 | NT$343.79 Billion ≈ $10.83 Billion |
+46.71% |
| 2021-12-31 | NT$234.32 Billion ≈ $7.38 Billion |
+544.90% |
| 2020-12-31 | NT$36.33 Billion ≈ $1.14 Billion |
+112.71% |
| 2019-12-31 | NT$17.08 Billion ≈ $538.18 Million |
-15.83% |
| 2018-12-31 | NT$20.29 Billion ≈ $639.40 Million |
-23.44% |
| 2017-12-31 | NT$26.51 Billion ≈ $835.20 Million |
+62.85% |
| 2016-12-31 | NT$16.28 Billion ≈ $512.86 Million |
-48.70% |
| 2015-12-31 | NT$31.73 Billion ≈ $999.71 Million |
-8.40% |
| 2014-12-31 | NT$34.64 Billion ≈ $1.09 Billion |
+3.18% |
| 2013-12-31 | NT$33.57 Billion ≈ $1.06 Billion |
-8.51% |
| 2012-12-31 | NT$36.70 Billion ≈ $1.16 Billion |
+20.70% |
| 2011-12-31 | NT$30.40 Billion ≈ $957.92 Million |
-28.97% |
| 2010-12-31 | NT$42.80 Billion ≈ $1.35 Billion |
+32.90% |
| 2009-12-31 | NT$32.21 Billion ≈ $1.01 Billion |
-32.14% |
| 2008-12-31 | NT$47.46 Billion ≈ $1.50 Billion |
-6.74% |
| 2007-12-31 | NT$50.89 Billion ≈ $1.60 Billion |
+17.78% |
| 2006-12-31 | NT$43.21 Billion ≈ $1.36 Billion |
-9.08% |
| 2005-12-31 | NT$47.52 Billion ≈ $1.50 Billion |
+8.41% |
| 2004-12-31 | NT$43.84 Billion ≈ $1.38 Billion |
+31.68% |
| 2003-12-31 | NT$33.29 Billion ≈ $1.05 Billion |
+36.68% |
| 2002-12-31 | NT$24.36 Billion ≈ $767.38 Million |
+1.26% |
| 2001-12-31 | NT$24.05 Billion ≈ $757.80 Million |
-3.96% |
| 2000-12-31 | NT$25.04 Billion ≈ $789.02 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Yang 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 20546.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$217.16 Billion | 66.64% |
| Common Stock | NT$34.92 Billion | 10.72% |
| Other Comprehensive Income | NT$45.80 Billion | 14.05% |
| Other Components | NT$27.98 Billion | 8.59% |
| Total Equity | NT$325.85 Billion | 100.00% |
Yang Ming Marine Transport Corp Competitors by Market Cap
The table below lists competitors of Yang Ming Marine Transport Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Essent Group Ltd
NYSE:ESNT
|
$5.65 Billion |
|
37 Interactive Entertainment Network Technology Group Co Ltd
SHE:002555
|
$5.66 Billion |
|
Cipher Mining Inc
NASDAQ:CIFR
|
$5.66 Billion |
|
Turkcell Iletisim Hizmetleri AS ORD
IS:TCELL
|
$5.66 Billion |
|
Northam Platinum Holdings Ltd
JSE:NPH
|
$5.64 Billion |
|
Talkweb Information System Co Ltd
SHE:002261
|
$5.63 Billion |
|
OrangePL
WAR:OPL
|
$5.63 Billion |
|
Shareate Tools Ltd
SHG:688257
|
$5.63 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Yang Ming Marine Transport Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 340,538,392,000 to 325,850,670,000, a change of -14,687,722,000 (-4.3%).
- Net income of 17,096,937,000 contributed positively to equity growth.
- Dividend payments of 26,190,782,000 reduced retained earnings.
- Other comprehensive income increased equity by 37,652,000.
- Other factors decreased equity by 5,631,529,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$17.10 Billion | +5.25% |
| Dividends Paid | NT$26.19 Billion | -8.04% |
| Other Comprehensive Income | NT$37.65 Million | +0.01% |
| Other Changes | NT$-5.63 Billion | -1.73% |
| Total Change | NT$- | -4.31% |
Book Value vs Market Value Analysis
This analysis compares Yang 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: 0.56x
- 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 1.61x to 0.56x 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$31.96 | NT$51.30 | x |
| 2007-12-31 | NT$37.57 | NT$51.30 | x |
| 2008-12-31 | NT$34.96 | NT$51.30 | x |
| 2009-12-31 | NT$23.68 | NT$51.30 | x |
| 2010-12-31 | NT$31.29 | NT$51.30 | x |
| 2011-12-31 | NT$21.88 | NT$51.30 | x |
| 2012-12-31 | NT$21.12 | NT$51.30 | x |
| 2013-12-31 | NT$20.96 | NT$51.30 | x |
| 2014-12-31 | NT$21.59 | NT$51.30 | x |
| 2015-12-31 | NT$18.94 | NT$51.30 | x |
| 2016-12-31 | NT$9.77 | NT$51.30 | x |
| 2017-12-31 | NT$13.93 | NT$51.30 | x |
| 2018-12-31 | NT$7.62 | NT$51.30 | x |
| 2019-12-31 | NT$6.33 | NT$51.30 | x |
| 2020-12-31 | NT$10.70 | NT$51.30 | x |
| 2021-12-31 | NT$68.27 | NT$51.30 | x |
| 2022-12-31 | NT$97.13 | NT$51.30 | x |
| 2023-12-31 | NT$79.24 | NT$51.30 | x |
| 2024-12-31 | NT$97.21 | NT$51.30 | x |
| 2025-12-31 | NT$91.88 | NT$51.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Yang Ming Marine Transport Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.25%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.45%
- • Asset Turnover: 0.36x
- • Equity Multiplier: 1.39x
- Recent ROE (5.25%) is above the historical average (1.32%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 4.79% | 2.30% | 1.03x | 2.03x | NT$-1.30 Billion |
| 2002 | 4.66% | 2.12% | 0.90x | 2.45x | NT$-1.30 Billion |
| 2003 | 19.97% | 9.15% | 0.99x | 2.21x | NT$3.32 Billion |
| 2004 | 22.35% | 11.06% | 0.98x | 2.05x | NT$5.41 Billion |
| 2005 | 19.63% | 9.46% | 1.07x | 1.94x | NT$4.54 Billion |
| 2006 | 2.67% | 1.07% | 1.12x | 2.25x | NT$-3.14 Billion |
| 2007 | 11.94% | 4.50% | 1.18x | 2.24x | NT$976.94 Million |
| 2008 | 1.16% | 0.40% | 1.22x | 2.40x | NT$-4.15 Billion |
| 2009 | -49.88% | -17.82% | 0.78x | 3.58x | NT$-19.02 Billion |
| 2010 | 28.03% | 9.03% | 0.98x | 3.18x | NT$7.58 Billion |
| 2011 | -32.03% | -7.93% | 0.92x | 4.41x | NT$-12.33 Billion |
| 2012 | 0.16% | 0.04% | 0.95x | 4.23x | NT$-3.24 Billion |
| 2013 | -9.02% | -2.48% | 0.84x | 4.35x | NT$-6.21 Billion |
| 2014 | 1.22% | 0.31% | 0.91x | 4.42x | NT$-2.95 Billion |
| 2015 | -24.88% | -6.05% | 0.82x | 4.99x | NT$-10.83 Billion |
| 2016 | -94.33% | -12.92% | 0.85x | 8.61x | NT$-16.49 Billion |
| 2017 | 1.23% | 0.24% | 0.99x | 5.10x | NT$-2.28 Billion |
| 2018 | -33.24% | -4.65% | 1.01x | 7.06x | NT$-8.57 Billion |
| 2019 | -24.28% | -2.68% | 0.78x | 11.60x | NT$-5.64 Billion |
| 2020 | 33.57% | 7.92% | 0.78x | 5.46x | NT$8.41 Billion |
| 2021 | 70.72% | 49.53% | 0.87x | 1.64x | NT$141.90 Billion |
| 2022 | 52.66% | 48.04% | 0.74x | 1.48x | NT$146.30 Billion |
| 2023 | 1.72% | 3.39% | 0.36x | 1.42x | NT$-22.92 Billion |
| 2024 | 18.85% | 28.82% | 0.46x | 1.42x | NT$30.13 Billion |
| 2025 | 5.25% | 10.45% | 0.36x | 1.39x | NT$-15.49 Billion |
Industry Comparison
This section compares Yang 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: $16,330,492,072
- Average return on equity (ROE) among peers: 6.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Yang Ming Marine Transport Corp (2609) | NT$329.77 Billion | 4.79% | 0.40x | $5.64 Billion |
| Evergreen Marine Corp Taiwan Ltd (2603) | $37.44 Billion | 2.89% | 2.17x | $13.16 Billion |
| Sincere Navigation Corp (2605) | $18.57 Billion | 3.23% | 0.38x | $571.70 Million |
| U-Ming Marine Transport Corp (2606) | $38.88 Billion | 9.36% | 1.25x | $1.64 Billion |
| Tze Shin International Co Ltd (2611) | $3.17 Billion | 9.78% | 0.40x | $83.36 Million |
| China Container Terminal Corp (2613) | $3.28 Billion | 6.79% | 2.35x | $94.72 Million |
| Wan Hai Lines Ltd (2615) | $34.18 Billion | 7.44% | 1.24x | $7.11 Billion |
| Taiwan Navigation Co Ltd (2617) | $9.56 Billion | 4.88% | 0.61x | $392.44 Million |
| Wisdom Marine Lines Co Ltd (2637) | $844.25 Million | 6.90% | 1.79x | $1.82 Billion |
| Franbo Lines (2641) | $1.05 Billion | 4.68% | 1.32x | $195.65 Million |
About Yang Ming Marine Transport Corp
Yang Ming Marine Transport Corporation, together with its subsidiaries, provides shipping, repair, and chartering services in Taiwan, the America, Europe, Asia, and internationally. The company purchases and sells ships, containers, and chassis. It acts as a property, shipping, and forwarding and inland forwarding agent, as well as a shipping manager. In addition, it provides warehouse and termin… Read more