China Bills Finance Corp (2820) - Net Assets
Based on the latest financial reports, China Bills Finance Corp (2820) has net assets worth NT$27.83 Billion TWD (≈ $876.81 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$265.12 Billion ≈ $8.35 Billion USD) and total liabilities (NT$237.29 Billion ≈ $7.48 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 China Bills Finance Corp liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$27.83 Billion |
| % of Total Assets | 10.5% |
| Annual Growth Rate | 2.09% |
| 5-Year Change | 8.89% |
| 10-Year Change | 24.04% |
| Growth Volatility | 7.73 |
China Bills Finance Corp - Net Assets Trend (2006–2025)
This chart illustrates how China Bills Finance Corp's net assets have evolved over time, based on quarterly financial data. Also explore China Bills Finance Corp balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for China Bills Finance Corp (2006–2025)
The table below shows the annual net assets of China Bills Finance Corp from 2006 to 2025. For live valuation and market cap data, see market value of China Bills Finance Corp.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$27.83 Billion ≈ $876.81 Million |
+10.34% |
| 2024-12-31 | NT$25.22 Billion ≈ $794.64 Million |
+1.16% |
| 2023-12-31 | NT$24.93 Billion ≈ $785.53 Million |
+13.45% |
| 2022-12-31 | NT$21.98 Billion ≈ $692.43 Million |
-14.00% |
| 2021-12-31 | NT$25.56 Billion ≈ $805.19 Million |
+0.42% |
| 2020-12-31 | NT$25.45 Billion ≈ $801.80 Million |
+6.68% |
| 2019-12-31 | NT$23.86 Billion ≈ $751.58 Million |
+2.39% |
| 2018-12-31 | NT$23.30 Billion ≈ $734.03 Million |
+1.19% |
| 2017-12-31 | NT$23.02 Billion ≈ $725.41 Million |
+2.62% |
| 2016-12-31 | NT$22.44 Billion ≈ $706.89 Million |
+0.23% |
| 2015-12-31 | NT$22.39 Billion ≈ $705.26 Million |
+4.28% |
| 2014-12-31 | NT$21.47 Billion ≈ $676.33 Million |
+2.48% |
| 2013-12-31 | NT$20.95 Billion ≈ $659.99 Million |
+0.76% |
| 2012-12-31 | NT$20.79 Billion ≈ $655.02 Million |
-3.98% |
| 2011-12-31 | NT$21.65 Billion ≈ $682.17 Million |
+17.00% |
| 2010-12-31 | NT$18.51 Billion ≈ $583.04 Million |
-14.44% |
| 2009-12-31 | NT$21.63 Billion ≈ $681.42 Million |
+1.45% |
| 2008-12-31 | NT$21.32 Billion ≈ $671.72 Million |
+12.63% |
| 2007-12-31 | NT$18.93 Billion ≈ $596.38 Million |
+0.76% |
| 2006-12-31 | NT$18.79 Billion ≈ $591.90 Million |
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Equity Component Analysis
This analysis shows how different components contribute to China Bills Finance 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 210151700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.69 Billion | 6.08% |
| Common Stock | NT$13.43 Billion | 48.26% |
| Other Comprehensive Income | NT$12.71 Billion | 45.65% |
| Other Components | NT$2.47 Million | 0.01% |
| Total Equity | NT$27.83 Billion | 100.00% |
China Bills Finance Corp Competitors by Market Cap
The table below lists competitors of China Bills Finance Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
John B Sanfilippo & Son Inc
NASDAQ:JBSS
|
$715.06 Million |
|
Yingkou Jinchen Mach Co Ltd
SHG:603396
|
$715.16 Million |
|
Hansen Technologies Ltd
AU:HSN
|
$715.30 Million |
|
Liberty Financial Group
AU:LFG
|
$715.34 Million |
|
BJs Restaurants Inc
NASDAQ:BJRI
|
$714.98 Million |
|
Lg Electronics Pref
KO:066575
|
$714.91 Million |
|
Saimo Electric Co Ltd
SHE:300466
|
$714.69 Million |
|
CRH PLC
LSE:CRH
|
$714.63 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China Bills Finance Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 25,222,164,000 to 27,830,448,000, a change of 2,608,284,000 (10.3%).
- Net income of 1,796,079,000 contributed positively to equity growth.
- Dividend payments of 1,047,509,000 reduced retained earnings.
- Other comprehensive income increased equity by 12,705,475,000.
- Other factors decreased equity by 10,845,761,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.80 Billion | +6.45% |
| Dividends Paid | NT$1.05 Billion | -3.76% |
| Other Comprehensive Income | NT$12.71 Billion | +45.65% |
| Other Changes | NT$-10.85 Billion | -38.97% |
| Total Change | NT$- | 10.34% |
Book Value vs Market Value Analysis
This analysis compares China Bills Finance 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: 0.82x
- 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 1.21x to 0.82x 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$13.99 | NT$16.90 | x |
| 2007-12-31 | NT$14.10 | NT$16.90 | x |
| 2008-12-31 | NT$15.88 | NT$16.90 | x |
| 2009-12-31 | NT$12.89 | NT$16.90 | x |
| 2010-12-31 | NT$13.60 | NT$16.90 | x |
| 2011-12-31 | NT$16.12 | NT$16.90 | x |
| 2012-12-31 | NT$15.48 | NT$16.90 | x |
| 2013-12-31 | NT$15.60 | NT$16.90 | x |
| 2014-12-31 | NT$15.98 | NT$16.90 | x |
| 2015-12-31 | NT$16.67 | NT$16.90 | x |
| 2016-12-31 | NT$16.68 | NT$16.90 | x |
| 2017-12-31 | NT$17.13 | NT$16.90 | x |
| 2018-12-31 | NT$17.33 | NT$16.90 | x |
| 2019-12-31 | NT$17.74 | NT$16.90 | x |
| 2020-12-31 | NT$18.92 | NT$16.90 | x |
| 2021-12-31 | NT$19.00 | NT$16.90 | x |
| 2022-12-31 | NT$16.35 | NT$16.90 | x |
| 2023-12-31 | NT$18.55 | NT$16.90 | x |
| 2024-12-31 | NT$18.76 | NT$16.90 | x |
| 2025-12-31 | NT$20.69 | NT$16.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China Bills Finance Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.45%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.81%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 9.53x
- Recent ROE (6.45%) is below the historical average (6.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | -2.18% | -8.26% | 0.02x | 11.15x | NT$-2.29 Billion |
| 2007 | 5.20% | 20.71% | 0.03x | 9.22x | NT$-908.21 Million |
| 2008 | 5.39% | 23.95% | 0.03x | 7.61x | NT$-982.04 Million |
| 2009 | 7.63% | 47.14% | 0.02x | 7.17x | NT$-512.46 Million |
| 2010 | 8.40% | 65.44% | 0.01x | 8.65x | NT$-295.64 Million |
| 2011 | 19.60% | 191.59% | 0.01x | 7.98x | NT$2.08 Billion |
| 2012 | 5.59% | 45.97% | 0.01x | 8.40x | NT$-917.28 Million |
| 2013 | 6.69% | 52.70% | 0.01x | 8.99x | NT$-693.97 Million |
| 2014 | 6.45% | 49.12% | 0.02x | 7.92x | NT$-761.36 Million |
| 2015 | 7.19% | 51.39% | 0.02x | 9.27x | NT$-628.84 Million |
| 2016 | 7.28% | 53.92% | 0.01x | 9.06x | NT$-610.19 Million |
| 2017 | 5.87% | 46.49% | 0.01x | 9.57x | NT$-951.43 Million |
| 2018 | 5.73% | 45.55% | 0.01x | 8.56x | NT$-994.43 Million |
| 2019 | 5.22% | 39.02% | 0.02x | 8.28x | NT$-1.14 Billion |
| 2020 | 6.20% | 47.97% | 0.02x | 8.58x | NT$-966.70 Million |
| 2021 | 7.27% | 56.30% | 0.01x | 8.95x | NT$-698.05 Million |
| 2022 | 4.73% | 36.81% | 0.01x | 9.45x | NT$-1.16 Billion |
| 2023 | 5.17% | 26.26% | 0.02x | 8.92x | NT$-1.20 Billion |
| 2024 | 5.45% | 22.54% | 0.02x | 10.02x | NT$-1.15 Billion |
| 2025 | 6.45% | 25.81% | 0.03x | 9.53x | NT$-986.97 Million |
Industry Comparison
This section compares China Bills Finance Corp's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $15,426,409,444
- Average return on equity (ROE) among peers: 3.97%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China Bills Finance Corp (2820) | NT$27.83 Billion | -2.18% | 8.53x | $715.05 Million |
| President Securities Corp (2855) | $29.81 Billion | 2.45% | 2.18x | $1.89 Billion |
| IBF Financial Holdings Co Ltd (2889) | $32.30 Billion | 4.18% | 5.78x | $1.67 Billion |
| Concord International Securities Co Ltd (5864) | $3.12 Billion | 9.62% | 0.15x | $429.57 Million |
| Capital Securities Corp (6005) | $32.20 Billion | 6.29% | 1.60x | $1.98 Billion |
| Horizon Securities Co Ltd (6015) | $4.79 Billion | -5.32% | 1.35x | $180.74 Million |
| Concord Securities Co Ltd (6016) | $7.76 Billion | 3.04% | 3.38x | $434.79 Million |
| Tachan Securities Co Ltd (6020) | $3.67 Billion | -0.04% | 0.23x | $151.85 Million |
| Good Finance Securities Co Ltd (6021) | $5.76 Billion | 1.84% | 1.63x | $334.63 Million |
| Yuanta Futures Co Ltd (6023) | $19.44 Billion | 13.66% | 8.50x | $1.01 Billion |
About China Bills Finance Corp
China Bills Finance Corporation provides various financial services in Taiwan. The company engages in the certification and underwriting of short-term bills and bank debentures; brokerage and trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; and provision of financial consulting services to enterprises. It is also invol… Read more