Tze Shin International Co Ltd (2611) - Net Assets
Based on the latest financial reports, Tze Shin International Co Ltd (2611) has net assets worth NT$2.90 Billion TWD (≈ $91.33 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$4.03 Billion ≈ $126.86 Million USD) and total liabilities (NT$1.13 Billion ≈ $35.53 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 2611 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.90 Billion |
| % of Total Assets | 71.99% |
| Annual Growth Rate | 1.27% |
| 5-Year Change | -11.39% |
| 10-Year Change | 6.98% |
| Growth Volatility | 9.33 |
Tze Shin International Co Ltd - Net Assets Trend (2002–2025)
This chart illustrates how Tze Shin International Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 2611 total asset value for the complete picture of this company's asset base.
Annual Net Assets for Tze Shin International Co Ltd (2002–2025)
The table below shows the annual net assets of Tze Shin International Co Ltd from 2002 to 2025. For live valuation and market cap data, see Tze Shin International Co Ltd (2611) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.90 Billion ≈ $91.33 Million |
-8.63% |
| 2024-12-31 | NT$3.17 Billion ≈ $99.96 Million |
-2.04% |
| 2023-12-31 | NT$3.24 Billion ≈ $102.05 Million |
+19.34% |
| 2022-12-31 | NT$2.71 Billion ≈ $85.51 Million |
-17.03% |
| 2021-12-31 | NT$3.27 Billion ≈ $103.07 Million |
+20.10% |
| 2020-12-31 | NT$2.72 Billion ≈ $85.82 Million |
+1.04% |
| 2019-12-31 | NT$2.70 Billion ≈ $84.93 Million |
-4.64% |
| 2018-12-31 | NT$2.83 Billion ≈ $89.06 Million |
+1.22% |
| 2017-12-31 | NT$2.79 Billion ≈ $87.99 Million |
+3.06% |
| 2016-12-31 | NT$2.71 Billion ≈ $85.38 Million |
-2.52% |
| 2015-12-31 | NT$2.78 Billion ≈ $87.58 Million |
-4.59% |
| 2014-12-31 | NT$2.91 Billion ≈ $91.79 Million |
-3.65% |
| 2013-12-31 | NT$3.02 Billion ≈ $95.27 Million |
+1.78% |
| 2012-12-31 | NT$2.97 Billion ≈ $93.60 Million |
+22.59% |
| 2011-12-31 | NT$2.42 Billion ≈ $76.35 Million |
-7.01% |
| 2010-12-31 | NT$2.61 Billion ≈ $82.11 Million |
+0.88% |
| 2009-12-31 | NT$2.58 Billion ≈ $81.40 Million |
+3.18% |
| 2008-12-31 | NT$2.50 Billion ≈ $78.89 Million |
-8.51% |
| 2007-12-31 | NT$2.74 Billion ≈ $86.22 Million |
+9.56% |
| 2006-12-31 | NT$2.50 Billion ≈ $78.70 Million |
+5.12% |
| 2005-12-31 | NT$2.38 Billion ≈ $74.87 Million |
+8.96% |
| 2004-12-31 | NT$2.18 Billion ≈ $68.71 Million |
-0.43% |
| 2003-12-31 | NT$2.19 Billion ≈ $69.01 Million |
+0.99% |
| 2002-12-31 | NT$2.17 Billion ≈ $68.33 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tze Shin International 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 88.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$437.52 Million | 16.12% |
| Common Stock | NT$1.89 Billion | 69.62% |
| Other Comprehensive Income | NT$366.92 Million | 13.52% |
| Other Components | NT$20.35 Million | 0.75% |
| Total Equity | NT$2.71 Billion | 100.00% |
Tze Shin International Co Ltd Competitors by Market Cap
The table below lists competitors of Tze Shin International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Actic Group AB
ST:ATIC
|
$79.22 Million |
|
VirnetX Holding Corp Common Stock
NYSE:VHC
|
$79.25 Million |
|
Isbir Sentetik Dokuma Sanayi AS
IS:ISSEN
|
$79.28 Million |
|
Credit Clear Ltd
AU:CCR
|
$79.32 Million |
|
Quality Construction Products Public Company Limited
BK:Q-CON
|
$79.17 Million |
|
HANSARD GLOBAL PLC LS-50
F:H9G
|
$79.15 Million |
|
Sandon Capital Investments Ltd
AU:SNC
|
$79.15 Million |
|
Ksolves India Limited
NSE:KSOLVES
|
$79.10 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tze Shin International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,967,214,000 to 2,714,812,000, a change of -252,402,000 (-8.5%).
- Net income of 98,641,000 contributed positively to equity growth.
- Dividend payments of 309,964,000 reduced retained earnings.
- Other comprehensive income decreased equity by 176,062,000.
- Other factors increased equity by 134,983,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$98.64 Million | +3.63% |
| Dividends Paid | NT$309.96 Million | -11.42% |
| Other Comprehensive Income | NT$-176.06 Million | -6.49% |
| Other Changes | NT$134.98 Million | +4.97% |
| Total Change | NT$- | -8.51% |
Book Value vs Market Value Analysis
This analysis compares Tze Shin International 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: 1.09x
- 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 1.27x to 1.09x 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$10.44 | NT$13.30 | x |
| 2010-12-31 | NT$10.45 | NT$13.30 | x |
| 2011-12-31 | NT$8.56 | NT$13.30 | x |
| 2012-12-31 | NT$11.38 | NT$13.30 | x |
| 2013-12-31 | NT$13.14 | NT$13.30 | x |
| 2014-12-31 | NT$12.89 | NT$13.30 | x |
| 2015-12-31 | NT$12.67 | NT$13.30 | x |
| 2016-12-31 | NT$12.19 | NT$13.30 | x |
| 2017-12-31 | NT$12.88 | NT$13.30 | x |
| 2018-12-31 | NT$13.13 | NT$13.30 | x |
| 2019-12-31 | NT$12.58 | NT$13.30 | x |
| 2020-12-31 | NT$13.16 | NT$13.30 | x |
| 2021-12-31 | NT$16.02 | NT$13.30 | x |
| 2022-12-31 | NT$13.09 | NT$13.30 | x |
| 2023-12-31 | NT$15.85 | NT$13.30 | x |
| 2024-12-31 | NT$15.67 | NT$13.30 | x |
| 2025-12-31 | NT$12.20 | NT$13.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tze Shin International Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.68%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 1.48x
- Recent ROE (3.63%) is above the historical average (3.61%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 6.76% | 5.99% | 0.85x | 1.33x | NT$-70.31 Million |
| 2003 | 4.07% | 3.52% | 0.70x | 1.65x | NT$-129.83 Million |
| 2006 | 8.76% | 10.21% | 0.31x | 2.80x | NT$-28.82 Million |
| 2007 | 4.69% | 6.62% | 0.26x | 2.70x | NT$-119.15 Million |
| 2008 | 0.50% | 0.63% | 0.29x | 2.76x | NT$-192.46 Million |
| 2009 | 0.35% | 0.44% | 0.32x | 2.48x | NT$-212.50 Million |
| 2010 | 0.50% | 0.68% | 0.33x | 2.21x | NT$-209.35 Million |
| 2011 | -6.46% | -9.24% | 0.27x | 2.55x | NT$-330.66 Million |
| 2012 | 33.74% | 23.11% | 0.83x | 1.76x | NT$621.53 Million |
| 2013 | 0.78% | 1.33% | 0.33x | 1.78x | NT$-247.70 Million |
| 2014 | 2.69% | 4.84% | 0.30x | 1.88x | NT$-189.70 Million |
| 2015 | 1.44% | 2.61% | 0.30x | 1.83x | NT$-212.15 Million |
| 2016 | -2.72% | -5.38% | 0.27x | 1.85x | NT$-307.94 Million |
| 2017 | 0.40% | 0.97% | 0.23x | 1.74x | NT$-242.18 Million |
| 2018 | 2.01% | 5.50% | 0.22x | 1.68x | NT$-205.54 Million |
| 2019 | -4.93% | -13.31% | 0.19x | 1.92x | NT$-363.71 Million |
| 2020 | -2.43% | -10.07% | 0.13x | 1.80x | NT$-312.01 Million |
| 2021 | 9.61% | 36.78% | 0.19x | 1.40x | NT$-11.82 Million |
| 2022 | -9.91% | -33.59% | 0.20x | 1.45x | NT$-492.51 Million |
| 2023 | 15.59% | 75.80% | 0.15x | 1.40x | NT$167.86 Million |
| 2024 | 10.46% | 45.17% | 0.16x | 1.49x | NT$13.65 Million |
| 2025 | 3.63% | 14.68% | 0.17x | 1.48x | NT$-172.84 Million |
Industry Comparison
This section compares Tze Shin International Co Ltd's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $79,148,969,357
- Average return on equity (ROE) among peers: 15.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tze Shin International Co Ltd (2611) | NT$2.90 Billion | 6.76% | 0.39x | $79.20 Million |
| Evergreen Marine Corp Taiwan Ltd (2603) | $602.46 Billion | 23.15% | 0.52x | $13.78 Billion |
| Sincere Navigation Corp (2605) | $10.13 Billion | 28.94% | 1.06x | $639.93 Million |
| U-Ming Marine Transport Corp (2606) | $38.88 Billion | 9.36% | 1.25x | $1.61 Billion |
| Yang Ming Marine Transport Corp (2609) | $25.04 Billion | 4.79% | 1.03x | $5.41 Billion |
| China Container Terminal Corp (2613) | $1.10 Billion | 24.49% | 2.52x | $96.88 Million |
| Wan Hai Lines Ltd (2615) | $21.92 Billion | 20.21% | 0.90x | $6.60 Billion |
| Taiwan Navigation Co Ltd (2617) | $10.78 Billion | 4.81% | 0.55x | $385.87 Million |
| Wisdom Marine Lines Co Ltd (2637) | $436.35 Million | 16.28% | 3.45x | $1.69 Billion |
| Franbo Lines (2641) | $1.59 Billion | 5.05% | 1.73x | $172.09 Million |
About Tze Shin International Co Ltd
Tze Shin International Co., Ltd. operates as a transportation company in Taiwan. The company offers transport services, such as container and truck transportation, terminal, petrochemical, damage goods transportation, and bulk logistics. It is also involved in the development and planning for construction of factories, shopping malls, and residential buildings. The company was formerly known as T… Read more