Taiwan Navigation Co Ltd
Taiwan Navigation Co., Ltd., together with its subsidiaries, provides shipping services in Taiwan. The company is involved in the provision of passenger and freight transportation services through water, and navigation channel and dredging services; port warehousing; and aquatic sand mining, as well as acts as a shipping agency; and provision of tugboats. It also acts as a landowner of residentia… Read more
Taiwan Navigation Co Ltd (2617) - Net Assets
Latest net assets as of September 2025: NT$16.98 Billion TWD
Based on the latest financial reports, Taiwan Navigation Co Ltd (2617) has net assets worth NT$16.98 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$25.58 Billion) and total liabilities (NT$8.60 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$16.98 Billion |
| % of Total Assets | 66.38% |
| Annual Growth Rate | 6.82% |
| 5-Year Change | 69.26% |
| 10-Year Change | 81.57% |
| Growth Volatility | 11.01 |
Taiwan Navigation Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Taiwan Navigation Co 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 Taiwan Navigation Co Ltd (2000–2024)
The table below shows the annual net assets of Taiwan Navigation Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$18.25 Billion | +14.29% |
| 2023-12-31 | NT$15.97 Billion | +1.64% |
| 2022-12-31 | NT$15.71 Billion | +0.47% |
| 2021-12-31 | NT$15.64 Billion | +45.02% |
| 2020-12-31 | NT$10.78 Billion | +5.29% |
| 2019-12-31 | NT$10.24 Billion | -1.72% |
| 2018-12-31 | NT$10.42 Billion | +9.03% |
| 2017-12-31 | NT$9.56 Billion | -1.61% |
| 2016-12-31 | NT$9.71 Billion | -3.37% |
| 2015-12-31 | NT$10.05 Billion | +0.74% |
| 2014-12-31 | NT$9.98 Billion | +4.22% |
| 2013-12-31 | NT$9.57 Billion | +4.14% |
| 2012-12-31 | NT$9.19 Billion | -3.60% |
| 2011-12-31 | NT$9.54 Billion | +5.41% |
| 2010-12-31 | NT$9.05 Billion | -2.41% |
| 2009-12-31 | NT$9.27 Billion | -2.73% |
| 2008-12-31 | NT$9.53 Billion | +28.70% |
| 2007-12-31 | NT$7.41 Billion | +17.41% |
| 2006-12-31 | NT$6.31 Billion | +4.06% |
| 2005-12-31 | NT$6.06 Billion | +18.30% |
| 2004-12-31 | NT$5.12 Billion | +9.10% |
| 2003-12-31 | NT$4.70 Billion | +7.89% |
| 2002-12-31 | NT$4.35 Billion | +6.59% |
| 2001-12-31 | NT$4.08 Billion | +9.03% |
| 2000-12-31 | NT$3.75 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Taiwan Navigation 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 7091.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$7.92 Billion | 43.40% |
| Common Stock | NT$4.17 Billion | 22.86% |
| Other Comprehensive Income | NT$5.82 Billion | 31.91% |
| Other Components | NT$334.38 Million | 1.83% |
| Total Equity | NT$18.25 Billion | 100.00% |
Taiwan Navigation Co Ltd Competitors by Market Cap
The table below lists competitors of Taiwan Navigation Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangdong Deerma Technology Co. Ltd. A
SHE:301332
|
$217.02 Million |
|
Chongqing Xishan Science&Technology Co. Ltd. A
SHG:688576
|
$217.07 Million |
|
Zhejiang Golden Eagle Co Ltd
SHG:600232
|
$217.11 Million |
|
FAMUR S.A. ZY 001
F:8MF
|
$217.14 Million |
|
Citizens Inc
NYSE:CIA
|
$217.00 Million |
|
Shanghai Welltech Automation Co Ltd
SHE:002058
|
$217.00 Million |
|
D-Link Corp
TW:2332
|
$217.00 Million |
|
Amper S.A.
PINK:APMRF
|
$216.95 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Taiwan Navigation Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 15,969,420,000 to 18,251,863,000, a change of 2,282,443,000 (14.3%).
- Net income of 1,283,234,000 contributed positively to equity growth.
- Dividend payments of 667,671,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,822,385,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.28 Billion | +7.03% |
| Dividends Paid | NT$667.67 Million | -3.66% |
| Other Comprehensive Income | NT$1.82 Billion | +9.98% |
| Other Changes | NT$-155.50 Million | -0.85% |
| Total Change | NT$- | 14.29% |
Book Value vs Market Value Analysis
This analysis compares Taiwan Navigation 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: 0.75x
- 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 2.11x to 0.75x 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$15.56 | NT$32.85 | x |
| 2007-12-31 | NT$17.76 | NT$32.85 | x |
| 2008-12-31 | NT$22.84 | NT$32.85 | x |
| 2009-12-31 | NT$22.22 | NT$32.85 | x |
| 2010-12-31 | NT$21.68 | NT$32.85 | x |
| 2011-12-31 | NT$22.82 | NT$32.85 | x |
| 2012-12-31 | NT$22.01 | NT$32.85 | x |
| 2013-12-31 | NT$22.93 | NT$32.85 | x |
| 2014-12-31 | NT$23.89 | NT$32.85 | x |
| 2015-12-31 | NT$24.07 | NT$32.85 | x |
| 2016-12-31 | NT$23.28 | NT$32.85 | x |
| 2017-12-31 | NT$22.89 | NT$32.85 | x |
| 2018-12-31 | NT$24.93 | NT$32.85 | x |
| 2019-12-31 | NT$24.51 | NT$32.85 | x |
| 2020-12-31 | NT$25.81 | NT$32.85 | x |
| 2021-12-31 | NT$37.43 | NT$32.85 | x |
| 2022-12-31 | NT$37.57 | NT$32.85 | x |
| 2023-12-31 | NT$38.20 | NT$32.85 | x |
| 2024-12-31 | NT$43.67 | NT$32.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Taiwan Navigation Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.03%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 29.16%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.53x
- Recent ROE (7.03%) is below the historical average (11.16%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 4.56% | 12.31% | 0.24x | 1.51x | NT$-203.91 Million |
| 2001 | 7.69% | 18.26% | 0.22x | 1.90x | NT$-94.51 Million |
| 2002 | 11.68% | 22.53% | 0.27x | 1.91x | NT$73.00 Million |
| 2003 | 16.43% | 32.74% | 0.30x | 1.67x | NT$301.97 Million |
| 2004 | 21.06% | 34.26% | 0.32x | 1.94x | NT$566.67 Million |
| 2005 | 19.93% | 32.48% | 0.35x | 1.77x | NT$602.08 Million |
| 2006 | 16.86% | 31.59% | 0.34x | 1.58x | NT$432.81 Million |
| 2007 | 20.81% | 38.87% | 0.35x | 1.55x | NT$800.80 Million |
| 2008 | 35.11% | 52.01% | 0.48x | 1.42x | NT$2.39 Billion |
| 2009 | 18.03% | 40.77% | 0.35x | 1.28x | NT$744.21 Million |
| 2010 | 15.47% | 39.47% | 0.32x | 1.21x | NT$495.18 Million |
| 2011 | 12.26% | 32.63% | 0.31x | 1.20x | NT$215.28 Million |
| 2012 | 6.85% | 19.89% | 0.26x | 1.30x | NT$-289.29 Million |
| 2013 | 5.66% | 19.56% | 0.22x | 1.32x | NT$-415.12 Million |
| 2014 | 3.06% | 10.54% | 0.23x | 1.27x | NT$-692.32 Million |
| 2015 | 0.93% | 3.50% | 0.21x | 1.28x | NT$-911.30 Million |
| 2016 | -0.94% | -3.70% | 0.18x | 1.43x | NT$-1.06 Billion |
| 2017 | 4.88% | 16.55% | 0.18x | 1.61x | NT$-489.23 Million |
| 2018 | 9.19% | 28.44% | 0.22x | 1.45x | NT$-84.36 Million |
| 2019 | 5.87% | 19.30% | 0.21x | 1.48x | NT$-423.03 Million |
| 2020 | 4.81% | 20.80% | 0.15x | 1.55x | NT$-560.18 Million |
| 2021 | 8.44% | 40.92% | 0.14x | 1.49x | NT$-243.58 Million |
| 2022 | 12.83% | 52.03% | 0.16x | 1.57x | NT$443.98 Million |
| 2023 | 10.41% | 41.68% | 0.16x | 1.54x | NT$65.95 Million |
| 2024 | 7.03% | 29.16% | 0.16x | 1.53x | NT$-541.95 Million |
Industry Comparison
This section compares Taiwan Navigation Co Ltd's net assets metrics with peer companies in the Marine Shipping industry.
Industry Context
- Industry: Marine Shipping
- Average net assets among peers: $20,578,626,660
- Average return on equity (ROE) among peers: 8.74%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Taiwan Navigation Co Ltd (2617) | NT$16.98 Billion | 4.56% | 0.51x | $217.02 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 |
| U-Ming Marine Transport Corp (2606) | $23.18 Billion | 3.79% | 1.62x | $907.57 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 |
| 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 |