STARLUX AIRLINES LTD (2646) - Net Assets
Based on the latest financial reports, STARLUX AIRLINES LTD (2646) has net assets worth NT$31.40 Billion TWD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$137.30 Billion) and total liabilities (NT$105.90 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$31.40 Billion |
| % of Total Assets | 22.87% |
| Annual Growth Rate | 63.14% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 62.67 |
STARLUX AIRLINES LTD - Net Assets Trend (2021–2025)
This chart illustrates how STARLUX 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 STARLUX AIRLINES LTD (2021–2025)
The table below shows the annual net assets of STARLUX AIRLINES LTD from 2021 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$31.40 Billion | +5.22% |
| 2024-12-31 | NT$29.84 Billion | +169.59% |
| 2023-12-31 | NT$11.07 Billion | +87.40% |
| 2022-12-31 | NT$5.91 Billion | +33.23% |
| 2021-12-31 | NT$4.43 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to STARLUX 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 720706300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$272.61 Million | 0.87% |
| Other Components | NT$31.12 Billion | 99.13% |
| Total Equity | NT$31.40 Billion | 100.00% |
STARLUX AIRLINES LTD Competitors by Market Cap
The table below lists competitors of STARLUX AIRLINES LTD ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MISUMI Group Inc
PINK:MSSMY
|
$1.99 Billion |
|
Jiangsu Eazytec Co Ltd
SHG:688258
|
$1.99 Billion |
|
Liechtensteinische Landesbank Aktiengesellschaft
PINK:LLAZF
|
$1.99 Billion |
|
NINGBO HENGSHUAI Co. LTD.
SHE:300969
|
$1.99 Billion |
|
Downer EDI Limited
PINK:DNERF
|
$1.99 Billion |
|
LeMaitre Vascular Inc
NASDAQ:LMAT
|
$1.99 Billion |
|
Multipolar Technology Tbk
JK:MLPT
|
$1.99 Billion |
|
Xinhuanet Co Ltd
SHG:603888
|
$1.99 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in STARLUX AIRLINES LTD's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 29,838,451,000 to 31,396,288,000, a change of 1,557,837,000 (5.2%).
- Net income of 272,608,000 contributed positively to equity growth.
- Other factors increased equity by 1,285,229,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$272.61 Million | +0.87% |
| Other Changes | NT$1.29 Billion | +4.09% |
| Total Change | NT$- | 5.22% |
Book Value vs Market Value Analysis
This analysis compares STARLUX 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: 2.01x
- 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 9.46x to 2.01x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | NT$2.22 | NT$21.00 | x |
| 2022-12-31 | NT$2.96 | NT$21.00 | x |
| 2023-12-31 | NT$5.10 | NT$21.00 | x |
| 2024-12-31 | NT$9.92 | NT$21.00 | x |
| 2025-12-31 | NT$10.44 | NT$21.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently STARLUX AIRLINES LTD utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.87%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.62%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 4.37x
- Recent ROE (0.87%) is above the historical average (-30.14%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -68.10% | -379.30% | 0.03x | 5.50x | NT$-3.46 Billion |
| 2022 | -89.25% | -156.77% | 0.06x | 9.67x | NT$-5.86 Billion |
| 2023 | 1.35% | 0.66% | 0.28x | 7.14x | NT$-957.62 Million |
| 2024 | 4.44% | 3.73% | 0.30x | 3.99x | NT$-1.66 Billion |
| 2025 | 0.87% | 0.62% | 0.32x | 4.37x | NT$-2.87 Billion |
Industry Comparison
This section compares STARLUX AIRLINES LTD's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $26,507,043,000
- Average return on equity (ROE) among peers: 1.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| STARLUX AIRLINES LTD (2646) | NT$31.40 Billion | -68.10% | 3.37x | $1.99 Billion |
| Eva Airways Corp (2618) | $39.68 Billion | -3.29% | 3.22x | $5.93 Billion |
| Tigerair Taiwan Co. Ltd. (6757) | $13.34 Billion | 6.06% | 0.00x | $715.20 Million |
About STARLUX AIRLINES LTD
STARLUX Airlines Co., Ltd. engages in the civil aviation transport business in Taiwan. It offers passenger and cargo transportation services. STARLUX Airlines Co., Ltd. was founded in 2018 and is based in Taipei, Taiwan.