Taiwan High Speed Rail Corp
Taiwan High Speed Rail Corporation constructs, operates, and manages a high-speed railway system and related facilities in Taiwan. The company operates 350 kilometers length of rail system passing through Nangang, Taipei, Banqiao, Taoyuan, Hsinchu, Miaoli, Taichung, Changhua, Yunlin, Chiayi, Tainan, and Zuoying stations. It also provides various services, including online booking, car, seat map a… Read more
Taiwan High Speed Rail Corp (2633) - Net Assets
Latest net assets as of June 2025: NT$69.65 Billion TWD
Based on the latest financial reports, Taiwan High Speed Rail Corp (2633) has net assets worth NT$69.65 Billion TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$390.18 Billion) and total liabilities (NT$320.53 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$69.65 Billion |
| % of Total Assets | 17.85% |
| Annual Growth Rate | -0.17% |
| 5-Year Change | 2.84% |
| 10-Year Change | 19.72% |
| Growth Volatility | 17.95 |
Taiwan High Speed Rail Corp - Net Assets Trend (2003–2024)
This chart illustrates how Taiwan High Speed Rail Corp'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 High Speed Rail Corp (2003–2024)
The table below shows the annual net assets of Taiwan High Speed Rail Corp from 2003 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$72.07 Billion | +1.04% |
| 2023-12-31 | NT$71.34 Billion | +6.01% |
| 2022-12-31 | NT$67.29 Billion | -0.72% |
| 2021-12-31 | NT$67.78 Billion | -3.29% |
| 2020-12-31 | NT$70.09 Billion | -1.39% |
| 2019-12-31 | NT$71.08 Billion | +2.40% |
| 2018-12-31 | NT$69.41 Billion | +10.15% |
| 2017-12-31 | NT$63.02 Billion | +3.20% |
| 2016-12-31 | NT$61.06 Billion | +1.43% |
| 2015-12-31 | NT$60.20 Billion | +33.64% |
| 2014-12-31 | NT$45.05 Billion | +4.45% |
| 2013-12-31 | NT$43.13 Billion | +33.18% |
| 2012-12-31 | NT$32.38 Billion | +12.42% |
| 2011-12-31 | NT$28.81 Billion | +22.18% |
| 2010-12-31 | NT$23.58 Billion | -4.88% |
| 2009-12-31 | NT$24.79 Billion | -16.19% |
| 2008-12-31 | NT$29.58 Billion | -45.64% |
| 2007-12-31 | NT$54.41 Billion | -33.99% |
| 2006-12-31 | NT$82.42 Billion | -7.47% |
| 2005-12-31 | NT$89.07 Billion | +10.36% |
| 2004-12-31 | NT$80.71 Billion | +7.97% |
| 2003-12-31 | NT$74.75 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Taiwan High Speed Rail 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 1024698200000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$10.25 Billion | 14.22% |
| Other Components | NT$61.83 Billion | 85.78% |
| Total Equity | NT$72.07 Billion | 100.00% |
Taiwan High Speed Rail Corp Competitors by Market Cap
The table below lists competitors of Taiwan High Speed Rail Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nanjing Iron & Steel Co Ltd
SHG:600282
|
$1.84 Billion |
|
Crompton Greaves Consumer Electricals Limited
NSE:CROMPTON
|
$1.84 Billion |
|
Delek Drilling - Limited Partnership
OTCGREY:DKDRF
|
$1.84 Billion |
|
Digi International Inc
NASDAQ:DGII
|
$1.84 Billion |
|
PARK NATIONAL DL 625
F:PAZ
|
$1.84 Billion |
|
Freni Brembo SpA
IL:0RPV
|
$1.84 Billion |
|
Micro-Star International Co Ltd
TW:2377
|
$1.84 Billion |
|
CITIC Pacific Special Steel Group Co Ltd
SHE:000708
|
$1.84 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Taiwan High Speed Rail Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 71,336,300,000 to 72,074,988,000, a change of 738,688,000 (1.0%).
- Net income of 6,451,428,000 contributed positively to equity growth.
- Dividend payments of 5,740,859,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$6.45 Billion | +8.95% |
| Dividends Paid | NT$5.74 Billion | -7.97% |
| Other Changes | NT$28.12 Million | +0.04% |
| Total Change | NT$- | 1.04% |
Book Value vs Market Value Analysis
This analysis compares Taiwan High Speed Rail 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: 2.05x
- 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 0.64x to 2.05x 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$41.20 | NT$26.25 | x |
| 2007-12-31 | NT$26.35 | NT$26.25 | x |
| 2008-12-31 | NT$12.78 | NT$26.25 | x |
| 2009-12-31 | NT$9.97 | NT$26.25 | x |
| 2010-12-31 | NT$9.05 | NT$26.25 | x |
| 2011-12-31 | NT$6.84 | NT$26.25 | x |
| 2012-12-31 | NT$12.43 | NT$26.25 | x |
| 2013-12-31 | NT$16.55 | NT$26.25 | x |
| 2014-12-31 | NT$6.80 | NT$26.25 | x |
| 2015-12-31 | NT$11.36 | NT$26.25 | x |
| 2016-12-31 | NT$10.89 | NT$26.25 | x |
| 2017-12-31 | NT$11.20 | NT$26.25 | x |
| 2018-12-31 | NT$12.33 | NT$26.25 | x |
| 2019-12-31 | NT$12.63 | NT$26.25 | x |
| 2020-12-31 | NT$12.45 | NT$26.25 | x |
| 2021-12-31 | NT$12.04 | NT$26.25 | x |
| 2022-12-31 | NT$11.96 | NT$26.25 | x |
| 2023-12-31 | NT$12.67 | NT$26.25 | x |
| 2024-12-31 | NT$12.81 | NT$26.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Taiwan High Speed Rail Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.95%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.13%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 5.33x
- Recent ROE (8.95%) is above the historical average (-0.02%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | -4.16% | 0.00% | 0.00x | 5.19x | NT$-11.67 Billion |
| 2007 | -54.04% | -217.72% | 0.03x | 8.08x | NT$-34.84 Billion |
| 2008 | -84.56% | -108.51% | 0.05x | 14.37x | NT$-27.97 Billion |
| 2009 | -19.32% | -20.53% | 0.06x | 16.71x | NT$-7.27 Billion |
| 2010 | -5.13% | -4.38% | 0.07x | 17.73x | NT$-3.57 Billion |
| 2011 | 20.08% | 17.94% | 0.08x | 14.75x | NT$2.90 Billion |
| 2012 | 11.04% | 10.53% | 0.08x | 12.91x | NT$338.41 Million |
| 2013 | 7.63% | 9.11% | 0.07x | 11.61x | NT$-1.02 Billion |
| 2014 | 12.25% | 14.33% | 0.08x | 11.14x | NT$1.02 Billion |
| 2015 | 34.67% | 40.22% | 0.10x | 8.41x | NT$14.85 Billion |
| 2016 | 6.79% | 10.22% | 0.09x | 7.55x | NT$-1.96 Billion |
| 2017 | 8.47% | 12.29% | 0.10x | 6.98x | NT$-961.93 Million |
| 2018 | 15.41% | 23.55% | 0.10x | 6.24x | NT$3.76 Billion |
| 2019 | 11.27% | 16.85% | 0.11x | 6.23x | NT$899.31 Million |
| 2020 | 8.34% | 14.93% | 0.09x | 6.10x | NT$-1.17 Billion |
| 2021 | 5.33% | 11.95% | 0.07x | 6.31x | NT$-3.17 Billion |
| 2022 | 5.60% | 10.15% | 0.09x | 5.95x | NT$-2.96 Billion |
| 2023 | 10.97% | 15.71% | 0.12x | 5.65x | NT$690.65 Million |
| 2024 | 8.95% | 12.13% | 0.14x | 5.33x | NT$-756.07 Million |
Industry Comparison
This section compares Taiwan High Speed Rail Corp's net assets metrics with peer companies in the Railroads industry.
Industry Context
- Industry: Railroads
- Average net assets among peers: $2,167,490,000
- Average return on equity (ROE) among peers: 24.41%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Taiwan High Speed Rail Corp (2633) | NT$69.65 Billion | -4.16% | 4.60x | $1.84 Billion |
| Taiwan Taxi Co Ltd (2640) | $2.17 Billion | 24.41% | 0.80x | $121.82 Million |