Wan Hai Lines Ltd (2615) - Net Assets

Latest as of September 2025: NT$258.46 Billion TWD ≈ $8.14 Billion USD

Based on the latest financial reports, Wan Hai Lines Ltd (2615) has net assets worth NT$258.46 Billion TWD (≈ $8.14 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$395.87 Billion ≈ $12.47 Billion USD) and total liabilities (NT$137.41 Billion ≈ $4.33 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 2615 asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	NT$258.46 Billion
% of Total Assets	65.29%
Annual Growth Rate	12.2%
5-Year Change	492.27%
10-Year Change	628.44%
Growth Volatility	46.42

Wan Hai Lines Ltd - Net Assets Trend (2000–2024)

This chart illustrates how Wan Hai Lines Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Wan Hai Lines Ltd balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for Wan Hai Lines Ltd (2000–2024)

The table below shows the annual net assets of Wan Hai Lines Ltd from 2000 to 2024. For live valuation and market cap data, see Wan Hai Lines Ltd (2615) market capitalisation.

Year	Net Assets	Change
2024-12-31	NT$261.62 Billion ≈ $8.24 Billion	+26.78%
2023-12-31	NT$206.36 Billion ≈ $6.50 Billion	-8.68%
2022-12-31	NT$225.97 Billion ≈ $7.12 Billion	+56.30%
2021-12-31	NT$144.57 Billion ≈ $4.55 Billion	+227.29%
2020-12-31	NT$44.17 Billion ≈ $1.39 Billion	+21.52%
2019-12-31	NT$36.35 Billion ≈ $1.15 Billion	+4.40%
2018-12-31	NT$34.82 Billion ≈ $1.10 Billion	+1.87%
2017-12-31	NT$34.18 Billion ≈ $1.08 Billion	-0.37%
2016-12-31	NT$34.31 Billion ≈ $1.08 Billion	-4.48%
2015-12-31	NT$35.91 Billion ≈ $1.13 Billion	+0.19%
2014-12-31	NT$35.85 Billion ≈ $1.13 Billion	+14.94%
2013-12-31	NT$31.19 Billion ≈ $982.64 Million	+1.80%
2012-12-31	NT$30.64 Billion ≈ $965.25 Million	+5.24%
2011-12-31	NT$29.11 Billion ≈ $917.23 Million	-9.31%
2010-12-31	NT$32.10 Billion ≈ $1.01 Billion	+21.44%
2009-12-31	NT$26.44 Billion ≈ $832.85 Million	-4.81%
2008-12-31	NT$27.77 Billion ≈ $874.94 Million	-17.89%
2007-12-31	NT$33.82 Billion ≈ $1.07 Billion	+15.53%
2006-12-31	NT$29.27 Billion ≈ $922.28 Million	-4.32%
2005-12-31	NT$30.60 Billion ≈ $963.97 Million	+17.69%
2004-12-31	NT$26.00 Billion ≈ $819.09 Million	+18.58%
2003-12-31	NT$21.92 Billion ≈ $690.73 Million	+17.14%
2002-12-31	NT$18.72 Billion ≈ $589.64 Million	+19.91%
2001-12-31	NT$15.61 Billion ≈ $491.72 Million	-5.40%
2000-12-31	NT$16.50 Billion ≈ $519.82 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Wan Hai Lines 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 9104.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	NT$181.89 Billion	69.63%
Common Stock	NT$28.06 Billion	10.74%
Other Comprehensive Income	NT$51.21 Billion	19.60%
Other Components	NT$48.99 Million	0.02%
Total Equity	NT$261.21 Billion	100.00%

Wan Hai Lines Ltd Competitors by Market Cap

The table below lists competitors of Wan Hai Lines Ltd ranked by their market capitalization.

Company	Market Cap
Repligen Corporation NASDAQ:RGEN	$6.60 Billion
Gamuda Bhd KLSE:5398	$6.61 Billion
Nedbank Group Ltd JSE:NED	$6.61 Billion
Guangzhou Friendship Group Co Ltd SHE:000987	$6.61 Billion
Zheshang Securities Co Ltd SHG:601878	$6.59 Billion
CNOOC Energy Technology & Services Ltd SHG:600968	$6.59 Billion
Prestige Estates Projects Limited NSE:PRESTIGE	$6.59 Billion
Shin Kong Financial Holding Co Ltd TW:2888	$6.58 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Wan Hai Lines Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 205,998,474,000 to 261,206,941,000, a change of 55,208,467,000 (26.8%).
Net income of 47,408,570,000 contributed positively to equity growth.
Dividend payments of 4,209,219,000 reduced retained earnings.
Other comprehensive income increased equity by 11,935,295,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	NT$47.41 Billion	+18.15%
Dividends Paid	NT$4.21 Billion	-1.61%
Other Comprehensive Income	NT$11.94 Billion	+4.57%
Other Changes	NT$73.82 Million	+0.03%
Total Change	NT$-	26.80%

Book Value vs Market Value Analysis

This analysis compares Wan Hai Lines 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: 0.80x
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 7.38x to 0.80x 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$10.10	NT$74.60	x
2007-12-31	NT$11.68	NT$74.60	x
2008-12-31	NT$9.58	NT$74.60	x
2009-12-31	NT$9.35	NT$74.60	x
2010-12-31	NT$11.38	NT$74.60	x
2011-12-31	NT$10.31	NT$74.60	x
2012-12-31	NT$10.86	NT$74.60	x
2013-12-31	NT$11.04	NT$74.60	x
2014-12-31	NT$12.67	NT$74.60	x
2015-12-31	NT$12.71	NT$74.60	x
2016-12-31	NT$12.15	NT$74.60	x
2017-12-31	NT$12.09	NT$74.60	x
2018-12-31	NT$12.32	NT$74.60	x
2019-12-31	NT$12.85	NT$74.60	x
2020-12-31	NT$15.62	NT$74.60	x
2021-12-31	NT$51.32	NT$74.60	x
2022-12-31	NT$80.11	NT$74.60	x
2023-12-31	NT$73.41	NT$74.60	x
2024-12-31	NT$93.08	NT$74.60	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Wan Hai Lines 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): 18.15%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 29.30%
• Asset Turnover: 0.39x
• Equity Multiplier: 1.57x
Recent ROE (18.15%) is above the historical average (14.19%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	11.60%	6.09%	1.13x	1.69x	NT$263.18 Million
2001	4.09%	2.12%	1.06x	1.81x	NT$-923.12 Million
2002	18.32%	10.85%	0.89x	1.91x	NT$1.56 Billion
2003	20.21%	11.63%	0.91x	1.90x	NT$2.24 Billion
2004	26.09%	14.53%	0.80x	2.25x	NT$4.18 Billion
2005	17.77%	10.78%	0.64x	2.59x	NT$2.37 Billion
2006	10.64%	5.91%	0.67x	2.67x	NT$188.16 Million
2007	18.60%	10.32%	0.71x	2.55x	NT$2.91 Billion
2008	0.02%	0.01%	0.95x	2.51x	NT$-2.76 Billion
2009	-6.22%	-3.38%	0.76x	2.43x	NT$-4.26 Billion
2010	17.05%	7.88%	1.04x	2.09x	NT$2.25 Billion
2011	0.07%	0.03%	0.92x	2.52x	NT$-2.87 Billion
2012	6.00%	2.92%	0.80x	2.56x	NT$-1.22 Billion
2013	6.86%	3.57%	0.76x	2.53x	NT$-972.37 Million
2014	14.76%	7.84%	0.79x	2.39x	NT$1.69 Billion
2015	11.03%	6.17%	0.80x	2.25x	NT$369.60 Million
2016	3.35%	1.99%	0.75x	2.24x	NT$-2.27 Billion
2017	7.48%	4.18%	0.79x	2.25x	NT$-854.81 Million
2018	3.23%	1.67%	0.87x	2.23x	NT$-2.34 Billion
2019	9.90%	4.90%	0.83x	2.43x	NT$-36.72 Million
2020	25.78%	13.82%	0.75x	2.47x	NT$6.93 Billion
2021	71.63%	45.32%	0.88x	1.79x	NT$88.92 Billion
2022	41.25%	35.94%	0.71x	1.62x	NT$70.51 Billion
2023	-2.81%	-5.78%	0.30x	1.61x	NT$-26.40 Billion
2024	18.15%	29.30%	0.39x	1.57x	NT$21.29 Billion

Industry Comparison

This section compares Wan Hai Lines Ltd's net assets metrics with peer companies in the Marine Shipping industry.

Industry Context

Industry: Marine Shipping
Average net assets among peers: $77,002,545,691
Average return on equity (ROE) among peers: 13.03%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Wan Hai Lines Ltd (2615)	NT$258.46 Billion	11.60%	0.53x	$6.60 Billion
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
Tze Shin International Co Ltd (2611)	$2.61 Billion	0.42%	0.87x	$79.20 Million
China Container Terminal Corp (2613)	$1.10 Billion	24.49%	2.52x	$96.88 Million
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 Wan Hai Lines Ltd

TW:2615 Taiwan Marine Shipping

Market Cap

$6.60 Billion

NT$209.34 Billion TWD

Market Cap Rank

#2994 Global

#83 in Taiwan

Share Price

NT$74.60

Change (1 day)

-1.45%

52-Week Range

NT$73.30 - NT$126.50

All Time High

NT$307.80