First Hotel Co Ltd (2706) - Net Assets
Based on the latest financial reports, First Hotel Co Ltd (2706) has net assets worth NT$9.79 Billion TWD (≈ $308.34 Million 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$11.46 Billion ≈ $361.01 Million USD) and total liabilities (NT$1.67 Billion ≈ $52.67 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 2706 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$9.79 Billion |
| % of Total Assets | 85.41% |
| Annual Growth Rate | 5.36% |
| 5-Year Change | 12.78% |
| 10-Year Change | 31.11% |
| Growth Volatility | 6.25 |
First Hotel Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how First Hotel Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 2706 asset base for the complete picture of this company's asset base.
Annual Net Assets for First Hotel Co Ltd (2002–2024)
The table below shows the annual net assets of First Hotel Co Ltd from 2002 to 2024. For live valuation and market cap data, see market value of First Hotel Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$10.18 Billion ≈ $320.76 Million |
+2.83% |
| 2023-12-31 | NT$9.90 Billion ≈ $311.93 Million |
+2.84% |
| 2022-12-31 | NT$9.63 Billion ≈ $303.31 Million |
+7.14% |
| 2021-12-31 | NT$8.99 Billion ≈ $283.11 Million |
-0.46% |
| 2020-12-31 | NT$9.03 Billion ≈ $284.40 Million |
-3.63% |
| 2019-12-31 | NT$9.37 Billion ≈ $295.13 Million |
+4.30% |
| 2018-12-31 | NT$8.98 Billion ≈ $282.96 Million |
+7.52% |
| 2017-12-31 | NT$8.35 Billion ≈ $263.16 Million |
+3.14% |
| 2016-12-31 | NT$8.10 Billion ≈ $255.14 Million |
+4.29% |
| 2015-12-31 | NT$7.77 Billion ≈ $244.64 Million |
+7.06% |
| 2014-12-31 | NT$7.25 Billion ≈ $228.52 Million |
+8.08% |
| 2013-12-31 | NT$6.71 Billion ≈ $211.44 Million |
+6.25% |
| 2012-12-31 | NT$6.32 Billion ≈ $199.01 Million |
+4.83% |
| 2011-12-31 | NT$6.03 Billion ≈ $189.84 Million |
+0.70% |
| 2010-12-31 | NT$5.98 Billion ≈ $188.53 Million |
+4.66% |
| 2009-12-31 | NT$5.72 Billion ≈ $180.13 Million |
+11.33% |
| 2008-12-31 | NT$5.14 Billion ≈ $161.80 Million |
+0.44% |
| 2007-12-31 | NT$5.11 Billion ≈ $161.10 Million |
+2.52% |
| 2006-12-31 | NT$4.99 Billion ≈ $157.14 Million |
+26.37% |
| 2005-12-31 | NT$3.95 Billion ≈ $124.35 Million |
+17.64% |
| 2004-12-31 | NT$3.36 Billion ≈ $105.70 Million |
+2.06% |
| 2003-12-31 | NT$3.29 Billion ≈ $103.57 Million |
+1.85% |
| 2002-12-31 | NT$3.23 Billion ≈ $101.68 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to First Hotel 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 127.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.12 Billion | 20.80% |
| Common Stock | NT$5.00 Billion | 49.11% |
| Other Comprehensive Income | NT$2.99 Billion | 29.34% |
| Other Components | NT$76.01 Million | 0.75% |
| Total Equity | NT$10.18 Billion | 100.00% |
First Hotel Co Ltd Competitors by Market Cap
The table below lists competitors of First Hotel Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Embention Sistemas Inteligentes S.A.
PA:MLUAV
|
$195.34 Million |
|
Surrozen Inc
NASDAQ:SRZN
|
$195.43 Million |
|
Polytronics Technology Corp
TW:6224
|
$195.48 Million |
|
InfuSystems Holdings Inc
NYSE MKT:INFU
|
$195.63 Million |
|
Stove Kraft Limited
NSE:STOVEKRAFT
|
$195.31 Million |
|
Maiquer Group Co Ltd
SHE:002719
|
$195.19 Million |
|
JVM Co. Ltd
KQ:054950
|
$195.14 Million |
|
Polymetals Resources Ltd
AU:POL
|
$195.08 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Hotel Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 9,900,903,000 to 10,180,959,000, a change of 280,056,000 (2.8%).
- Net income of 277,731,000 contributed positively to equity growth.
- Dividend payments of 176,915,000 reduced retained earnings.
- Other comprehensive income increased equity by 205,906,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$277.73 Million | +2.73% |
| Dividends Paid | NT$176.91 Million | -1.74% |
| Other Comprehensive Income | NT$205.91 Million | +2.02% |
| Other Changes | NT$-26.67 Million | -0.26% |
| Total Change | NT$- | 2.83% |
Book Value vs Market Value Analysis
This analysis compares First Hotel 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: 0.61x
- 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 1.85x to 0.61x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | NT$6.71 | NT$12.40 | x |
| 2005-12-31 | NT$7.89 | NT$12.40 | x |
| 2006-12-31 | NT$9.98 | NT$12.40 | x |
| 2007-12-31 | NT$10.23 | NT$12.40 | x |
| 2008-12-31 | NT$10.27 | NT$12.40 | x |
| 2009-12-31 | NT$11.44 | NT$12.40 | x |
| 2010-12-31 | NT$11.97 | NT$12.40 | x |
| 2011-12-31 | NT$12.05 | NT$12.40 | x |
| 2012-12-31 | NT$12.63 | NT$12.40 | x |
| 2013-12-31 | NT$13.42 | NT$12.40 | x |
| 2014-12-31 | NT$14.51 | NT$12.40 | x |
| 2015-12-31 | NT$15.53 | NT$12.40 | x |
| 2016-12-31 | NT$16.20 | NT$12.40 | x |
| 2017-12-31 | NT$16.71 | NT$12.40 | x |
| 2018-12-31 | NT$17.96 | NT$12.40 | x |
| 2019-12-31 | NT$18.73 | NT$12.40 | x |
| 2020-12-31 | NT$18.05 | NT$12.40 | x |
| 2021-12-31 | NT$17.97 | NT$12.40 | x |
| 2022-12-31 | NT$19.25 | NT$12.40 | x |
| 2023-12-31 | NT$19.80 | NT$12.40 | x |
| 2024-12-31 | NT$20.36 | NT$12.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Hotel Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.73%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 78.04%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.15x
- Recent ROE (2.73%) is below the historical average (5.02%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 5.10% | 63.70% | 0.06x | 1.31x | NT$-158.00 Million |
| 2003 | 3.91% | 51.26% | 0.06x | 1.30x | NT$-200.24 Million |
| 2004 | 5.73% | 71.69% | 0.06x | 1.30x | NT$-143.41 Million |
| 2005 | 7.40% | 110.09% | 0.06x | 1.20x | NT$-102.49 Million |
| 2006 | 11.45% | 198.29% | 0.05x | 1.20x | NT$72.52 Million |
| 2007 | 5.98% | 102.19% | 0.05x | 1.18x | NT$-205.56 Million |
| 2008 | 6.29% | 106.79% | 0.05x | 1.21x | NT$-190.65 Million |
| 2009 | 5.64% | 100.42% | 0.05x | 1.17x | NT$-249.57 Million |
| 2010 | 4.92% | 90.95% | 0.05x | 1.14x | NT$-304.00 Million |
| 2011 | 3.78% | 65.99% | 0.05x | 1.15x | NT$-374.81 Million |
| 2012 | 4.42% | 77.34% | 0.05x | 1.15x | NT$-352.52 Million |
| 2013 | 4.52% | 84.12% | 0.05x | 1.14x | NT$-367.75 Million |
| 2014 | 5.46% | 107.37% | 0.04x | 1.15x | NT$-329.12 Million |
| 2015 | 5.90% | 126.31% | 0.04x | 1.15x | NT$-318.18 Million |
| 2016 | 6.19% | 149.49% | 0.04x | 1.15x | NT$-308.29 Million |
| 2017 | 6.65% | 168.28% | 0.03x | 1.15x | NT$-280.18 Million |
| 2018 | 4.79% | 130.17% | 0.03x | 1.16x | NT$-467.92 Million |
| 2019 | 5.68% | 153.44% | 0.03x | 1.16x | NT$-404.71 Million |
| 2020 | 1.78% | 60.69% | 0.03x | 1.16x | NT$-741.96 Million |
| 2021 | 0.87% | 31.00% | 0.02x | 1.16x | NT$-820.19 Million |
| 2022 | 3.13% | 103.76% | 0.03x | 1.15x | NT$-661.29 Million |
| 2023 | 3.04% | 87.59% | 0.03x | 1.15x | NT$-689.40 Million |
| 2024 | 2.73% | 78.04% | 0.03x | 1.15x | NT$-740.36 Million |
Industry Comparison
This section compares First Hotel Co Ltd's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $2,319,921,444
- Average return on equity (ROE) among peers: -11.01%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Hotel Co Ltd (2706) | NT$9.79 Billion | 5.10% | 0.17x | $195.33 Million |
| Sun Yad Construction Co Ltd (1316) | $974.60 Million | 4.39% | 0.27x | $114.93 Million |
| GTM Holdings Corp (1437) | $3.26 Billion | 9.89% | 1.22x | $189.98 Million |
| I-Hwa Industrial Co Ltd (1456) | $1.20 Billion | 0.00% | 3.51x | $40.45 Million |
| Hiyes International Co Ltd (2348) | $110.60 Million | -128.02% | 4.78x | $339.89 Million |
| Chainqui Construction Development Co Ltd (2509) | $4.76 Billion | 9.25% | 0.79x | $95.51 Million |
| Hung Ching Development & Construction Co Ltd (2527) | $3.89 Billion | 1.64% | 0.71x | $280.80 Million |
| Crowell Development Corp (2528) | $869.07 Million | 0.00% | 3.81x | $307.67 Million |
| JSL Construction & Development Co Ltd (2540) | $415.29 Million | 0.00% | 6.88x | $1.61 Billion |
| Wanhwa Enterprise Co (2701) | $5.40 Billion | 3.75% | 0.16x | $150.27 Million |
About First Hotel Co Ltd
First Hotel Company Ltd. operates a tourist hotel under the First Hotel name in Taiwan. The company operates through Tourism Service and Leasing divisions. It is also involved in the commercial building leasing and related businesses. The company is based in Taipei, Taiwan.