China Airlines Ltd (2610) - Net Assets
Based on the latest financial reports, China Airlines Ltd (2610) has net assets worth NT$99.03 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$337.94 Billion) and total liabilities (NT$238.92 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$99.03 Billion |
| % of Total Assets | 29.3% |
| Annual Growth Rate | 3.19% |
| 5-Year Change | 49.15% |
| 10-Year Change | 49.53% |
| Growth Volatility | 13.17 |
China Airlines Ltd - Net Assets Trend (2000–2024)
This chart illustrates how China Airlines Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for China Airlines Ltd (2000–2024)
The table below shows the annual net assets of China Airlines Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$90.55 Billion | +16.87% |
| 2023-12-31 | NT$77.48 Billion | +6.94% |
| 2022-12-31 | NT$72.45 Billion | -6.15% |
| 2021-12-31 | NT$77.21 Billion | +27.17% |
| 2020-12-31 | NT$60.71 Billion | +0.96% |
| 2019-12-31 | NT$60.13 Billion | +0.14% |
| 2018-12-31 | NT$60.05 Billion | +1.50% |
| 2017-12-31 | NT$59.16 Billion | +2.23% |
| 2016-12-31 | NT$57.87 Billion | -4.44% |
| 2015-12-31 | NT$60.56 Billion | +18.75% |
| 2014-12-31 | NT$51.00 Billion | -3.58% |
| 2013-12-31 | NT$52.89 Billion | -4.32% |
| 2012-12-31 | NT$55.28 Billion | +10.02% |
| 2011-12-31 | NT$50.25 Billion | -3.06% |
| 2010-12-31 | NT$51.84 Billion | +16.82% |
| 2009-12-31 | NT$44.37 Billion | +30.67% |
| 2008-12-31 | NT$33.96 Billion | -38.45% |
| 2007-12-31 | NT$55.17 Billion | -0.53% |
| 2006-12-31 | NT$55.46 Billion | -3.85% |
| 2005-12-31 | NT$57.68 Billion | +9.56% |
| 2004-12-31 | NT$52.65 Billion | +8.85% |
| 2003-12-31 | NT$48.37 Billion | +3.38% |
| 2002-12-31 | NT$46.79 Billion | +4.86% |
| 2001-12-31 | NT$44.62 Billion | +4.69% |
| 2000-12-31 | NT$42.62 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to China Airlines 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 170.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$20.98 Billion | 24.39% |
| Common Stock | NT$60.77 Billion | 70.66% |
| Other Comprehensive Income | NT$-1.54 Billion | -1.80% |
| Other Components | NT$5.80 Billion | 6.74% |
| Total Equity | NT$86.00 Billion | 100.00% |
China Airlines Ltd Competitors by Market Cap
The table below lists competitors of China Airlines Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Atacadão S.A
SA:CRFB3
|
$3.51 Billion |
|
HBIS Co Ltd
SHE:000709
|
$3.51 Billion |
|
JC Decaux SA
PA:DEC
|
$3.51 Billion |
|
flatexDEGIRO AG
XETRA:FTK
|
$3.51 Billion |
|
Keisei Electric Railway Co. Ltd
F:KEI
|
$3.51 Billion |
|
Huhtamaki Oyj
NYSE:HMKIY
|
$3.51 Billion |
|
SUNRISE N
SW:SUNN
|
$3.50 Billion |
|
Palomar Holdings Inc
NASDAQ:PLMR
|
$3.50 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China Airlines Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 74,591,115,000 to 86,000,631,000, a change of 11,409,516,000 (15.3%).
- Net income of 14,383,345,000 contributed positively to equity growth.
- Dividend payments of 4,322,017,000 reduced retained earnings.
- Other comprehensive income decreased equity by 6,027,811,000.
- Other factors increased equity by 7,375,999,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$14.38 Billion | +16.72% |
| Dividends Paid | NT$4.32 Billion | -5.03% |
| Other Comprehensive Income | NT$-6.03 Billion | -7.01% |
| Other Changes | NT$7.38 Billion | +8.58% |
| Total Change | NT$- | 15.30% |
Book Value vs Market Value Analysis
This analysis compares China Airlines 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: 1.31x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.15x to 1.31x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | NT$15.91 | NT$18.30 | x |
| 2007-12-31 | NT$19.55 | NT$18.30 | x |
| 2008-12-31 | NT$9.62 | NT$18.30 | x |
| 2009-12-31 | NT$11.16 | NT$18.30 | x |
| 2010-12-31 | NT$10.38 | NT$18.30 | x |
| 2011-12-31 | NT$10.17 | NT$18.30 | x |
| 2012-12-31 | NT$10.15 | NT$18.30 | x |
| 2013-12-31 | NT$9.78 | NT$18.30 | x |
| 2014-12-31 | NT$9.36 | NT$18.30 | x |
| 2015-12-31 | NT$9.98 | NT$18.30 | x |
| 2016-12-31 | NT$10.11 | NT$18.30 | x |
| 2017-12-31 | NT$10.03 | NT$18.30 | x |
| 2018-12-31 | NT$9.64 | NT$18.30 | x |
| 2019-12-31 | NT$10.44 | NT$18.30 | x |
| 2020-12-31 | NT$10.62 | NT$18.30 | x |
| 2021-12-31 | NT$12.06 | NT$18.30 | x |
| 2022-12-31 | NT$11.39 | NT$18.30 | x |
| 2023-12-31 | NT$12.14 | NT$18.30 | x |
| 2024-12-31 | NT$13.94 | NT$18.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China Airlines Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.72%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.05%
- • Asset Turnover: 0.62x
- • Equity Multiplier: 3.81x
- Recent ROE (16.72%) is above the historical average (-0.63%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 6.88% | 4.09% | 0.51x | 3.31x | NT$-1.33 Billion |
| 2001 | 4.00% | 2.70% | 0.45x | 3.32x | NT$-2.68 Billion |
| 2002 | 6.70% | 4.54% | 0.42x | 3.50x | NT$-1.54 Billion |
| 2003 | 3.68% | 2.49% | 0.37x | 3.95x | NT$-3.06 Billion |
| 2004 | 7.94% | 4.62% | 0.42x | 4.13x | NT$-1.08 Billion |
| 2005 | 1.19% | 0.55% | 0.47x | 4.66x | NT$-4.77 Billion |
| 2006 | 1.33% | 0.61% | 0.50x | 4.40x | NT$-4.81 Billion |
| 2007 | -4.57% | -1.98% | 0.55x | 4.18x | NT$-8.04 Billion |
| 2008 | -105.43% | -25.84% | 0.56x | 7.33x | NT$-35.42 Billion |
| 2009 | -9.22% | -3.62% | 0.48x | 5.36x | NT$-7.93 Billion |
| 2010 | 21.83% | 7.19% | 0.69x | 4.39x | NT$5.76 Billion |
| 2011 | -4.15% | -1.37% | 0.67x | 4.52x | NT$-6.66 Billion |
| 2012 | 0.11% | 0.04% | 0.72x | 3.83x | NT$-5.16 Billion |
| 2013 | -2.51% | -0.90% | 0.64x | 4.35x | NT$-6.35 Billion |
| 2014 | -1.54% | -0.50% | 0.66x | 4.71x | NT$-5.62 Billion |
| 2015 | 9.89% | 3.97% | 0.65x | 3.81x | NT$-63.28 Million |
| 2016 | 1.02% | 0.41% | 0.63x | 4.02x | NT$-5.01 Billion |
| 2017 | 3.87% | 1.41% | 0.69x | 3.96x | NT$-3.49 Billion |
| 2018 | 3.14% | 1.05% | 0.74x | 4.03x | NT$-3.92 Billion |
| 2019 | -1.19% | -0.40% | 0.57x | 5.18x | NT$-6.33 Billion |
| 2020 | -0.49% | -0.24% | 0.41x | 4.94x | NT$-6.04 Billion |
| 2021 | 12.67% | 6.76% | 0.47x | 3.98x | NT$1.98 Billion |
| 2022 | 3.21% | 1.49% | 0.51x | 4.21x | NT$-4.75 Billion |
| 2023 | 9.14% | 3.69% | 0.63x | 3.90x | NT$-640.56 Million |
| 2024 | 16.72% | 7.05% | 0.62x | 3.81x | NT$5.78 Billion |
Industry Comparison
This section compares China Airlines Ltd's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $20,209,064,667
- Average return on equity (ROE) among peers: -13.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China Airlines Ltd (2610) | NT$99.03 Billion | 6.88% | 2.41x | $3.51 Billion |
| Eva Airways Corp (2618) | $46.52 Billion | 2.85% | 1.94x | $6.01 Billion |
| STARLUX AIRLINES LTD (2646) | $11.07 Billion | 1.35% | 6.14x | $1.99 Billion |
| Tigerair Taiwan Co. Ltd. (6757) | $3.04 Billion | -45.14% | 2.85x | $718.09 Million |
About China Airlines Ltd
China Airlines, Ltd., together with its subsidiaries, provides air transportation services for passengers, cargo, mail, and others in the United States, Northeast Asia, Southeast Asia, Europe, Australia, China, and Taiwan. The company offers international passenger air transport and scheduled, non-scheduled, and charter flights; international cargo, courier, mail, and package transport; and in-fl… Read more