Mercuries & Associates Holding Ltd
Mercuries & Associates Holding, Ltd., an investment holding company, engages in the life insurance, consumer goods and catering retail, pharmaceuticals, and information services businesses. It offers lifetime, pension, foreign currency pension, and lifetime insurance; hospitalization medical, cancer prevention, long term and disability care, and lifetime medical health insurance; personal and onl… Read more
Mercuries & Associates Holding Ltd (2905) - Net Assets
Latest net assets as of September 2025: NT$49.08 Billion TWD
Based on the latest financial reports, Mercuries & Associates Holding Ltd (2905) has net assets worth NT$49.08 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$1.63 Trillion) and total liabilities (NT$1.58 Trillion). 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$49.08 Billion |
| % of Total Assets | 3.01% |
| Annual Growth Rate | 10.09% |
| 5-Year Change | 7.19% |
| 10-Year Change | 74.96% |
| Growth Volatility | 37.54 |
Mercuries & Associates Holding Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Mercuries & Associates Holding 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 Mercuries & Associates Holding Ltd (2000–2024)
The table below shows the annual net assets of Mercuries & Associates Holding Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$50.18 Billion | +3.87% |
| 2023-12-31 | NT$48.31 Billion | +52.55% |
| 2022-12-31 | NT$31.67 Billion | -32.94% |
| 2021-12-31 | NT$47.23 Billion | +0.88% |
| 2020-12-31 | NT$46.81 Billion | +6.76% |
| 2019-12-31 | NT$43.85 Billion | +52.15% |
| 2018-12-31 | NT$28.82 Billion | -29.45% |
| 2017-12-31 | NT$40.85 Billion | +21.72% |
| 2016-12-31 | NT$33.56 Billion | +17.02% |
| 2015-12-31 | NT$28.68 Billion | +3.07% |
| 2014-12-31 | NT$27.83 Billion | +18.09% |
| 2013-12-31 | NT$23.56 Billion | -10.88% |
| 2012-12-31 | NT$26.44 Billion | +113.91% |
| 2011-12-31 | NT$12.36 Billion | -30.15% |
| 2010-12-31 | NT$17.69 Billion | +72.36% |
| 2009-12-31 | NT$10.27 Billion | +31.33% |
| 2008-12-31 | NT$7.82 Billion | -45.71% |
| 2007-12-31 | NT$14.40 Billion | +7.18% |
| 2006-12-31 | NT$13.43 Billion | +12.26% |
| 2005-12-31 | NT$11.97 Billion | +79.91% |
| 2004-12-31 | NT$6.65 Billion | +2.07% |
| 2003-12-31 | NT$6.52 Billion | +2.39% |
| 2002-12-31 | NT$6.36 Billion | -13.42% |
| 2001-12-31 | NT$7.35 Billion | +47.29% |
| 2000-12-31 | NT$4.99 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mercuries & Associates Holding 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 132.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.51 Billion | 9.05% |
| Common Stock | NT$11.22 Billion | 67.37% |
| Other Components | NT$3.93 Billion | 23.57% |
| Total Equity | NT$16.66 Billion | 100.00% |
Mercuries & Associates Holding Ltd Competitors by Market Cap
The table below lists competitors of Mercuries & Associates Holding Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
INFUSYSTEMS HLDG.DL-0001
F:1TZ
|
$134.55 Million |
|
Hainan Yedao Group Co Ltd
SHG:600238
|
$134.63 Million |
|
Zhejiang Tongli Transmission Technology Co. Ltd. A
SHE:301255
|
$134.63 Million |
|
Hyundai Green Food Co. Ltd.
KO:453340
|
$134.65 Million |
|
Sentral REIT
KLSE:5123
|
$134.51 Million |
|
EPACK Durable Limited
NSE:EPACK
|
$134.48 Million |
|
Xponential Fitness Inc
NYSE:XPOF
|
$134.47 Million |
|
Brand Engagement Network Inc
NASDAQ:BNAI
|
$134.44 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mercuries & Associates Holding Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 20,168,463,000 to 16,660,481,000, a change of -3,507,982,000 (-17.4%).
- Net income of 1,517,530,000 contributed positively to equity growth.
- Dividend payments of 506,199,000 reduced retained earnings.
- New share issuances of 3,221,655,000 increased equity.
- Other comprehensive income decreased equity by 10,630,616,000.
- Other factors increased equity by 2,889,648,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.52 Billion | +9.11% |
| Dividends Paid | NT$506.20 Million | -3.04% |
| Share Issuances | NT$3.22 Billion | +19.34% |
| Other Comprehensive Income | NT$-10.63 Billion | -63.81% |
| Other Changes | NT$2.89 Billion | +17.34% |
| Total Change | NT$- | -17.39% |
Book Value vs Market Value Analysis
This analysis compares Mercuries & Associates Holding 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: 0.96x
- 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 1.92x to 0.96x 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$7.66 | NT$14.75 | x |
| 2005-12-31 | NT$6.90 | NT$14.75 | x |
| 2006-12-31 | NT$8.41 | NT$14.75 | x |
| 2007-12-31 | NT$8.46 | NT$14.75 | x |
| 2008-12-31 | NT$5.78 | NT$14.75 | x |
| 2009-12-31 | NT$9.23 | NT$14.75 | x |
| 2010-12-31 | NT$11.08 | NT$14.75 | x |
| 2011-12-31 | NT$8.37 | NT$14.75 | x |
| 2012-12-31 | NT$14.05 | NT$14.75 | x |
| 2013-12-31 | NT$12.00 | NT$14.75 | x |
| 2014-12-31 | NT$13.79 | NT$14.75 | x |
| 2015-12-31 | NT$13.39 | NT$14.75 | x |
| 2016-12-31 | NT$16.27 | NT$14.75 | x |
| 2017-12-31 | NT$19.51 | NT$14.75 | x |
| 2018-12-31 | NT$15.53 | NT$14.75 | x |
| 2019-12-31 | NT$21.29 | NT$14.75 | x |
| 2020-12-31 | NT$22.36 | NT$14.75 | x |
| 2021-12-31 | NT$19.89 | NT$14.75 | x |
| 2022-12-31 | NT$11.50 | NT$14.75 | x |
| 2023-12-31 | NT$21.71 | NT$14.75 | x |
| 2024-12-31 | NT$15.43 | NT$14.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mercuries & Associates Holding 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): 9.11%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.93%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 99.51x
- Recent ROE (9.11%) is above the historical average (6.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 32.67% | 31.31% | 0.46x | 2.29x | NT$1.67 Billion |
| 2002 | 5.47% | 7.18% | 0.30x | 2.52x | NT$-288.34 Million |
| 2003 | 7.84% | 10.05% | 0.31x | 2.50x | NT$-140.55 Million |
| 2004 | 3.71% | 1.16% | 1.22x | 2.62x | NT$-418.13 Million |
| 2005 | -7.07% | -1.05% | 0.52x | 12.90x | NT$-1.02 Billion |
| 2006 | 10.35% | 1.68% | 0.47x | 13.02x | NT$25.58 Million |
| 2007 | 6.99% | 0.99% | 0.46x | 15.32x | NT$-222.28 Million |
| 2008 | 3.40% | 0.31% | 0.51x | 21.83x | NT$-329.66 Million |
| 2009 | 9.79% | 10.12% | 0.06x | 17.48x | NT$-16.48 Million |
| 2010 | 12.01% | 1.04% | 0.23x | 49.81x | NT$187.62 Million |
| 2011 | 15.09% | 1.05% | 0.20x | 72.06x | NT$367.32 Million |
| 2012 | 8.28% | 0.70% | 0.23x | 50.40x | NT$-209.60 Million |
| 2013 | 8.85% | 0.62% | 0.21x | 69.10x | NT$-119.45 Million |
| 2014 | 10.55% | 0.74% | 0.21x | 68.66x | NT$65.89 Million |
| 2015 | 12.72% | 0.83% | 0.20x | 75.82x | NT$315.32 Million |
| 2016 | 14.52% | 1.06% | 0.20x | 68.61x | NT$637.58 Million |
| 2017 | 9.70% | 0.79% | 0.19x | 63.40x | NT$-50.65 Million |
| 2018 | 2.47% | 0.17% | 0.17x | 86.48x | NT$-1.01 Billion |
| 2019 | 16.78% | 1.51% | 0.18x | 62.39x | NT$1.39 Billion |
| 2020 | 7.12% | 0.77% | 0.13x | 69.56x | NT$-565.23 Million |
| 2021 | 9.59% | 1.14% | 0.12x | 72.36x | NT$-81.82 Million |
| 2022 | -50.02% | -3.45% | 0.10x | 146.01x | NT$-6.11 Billion |
| 2023 | -14.25% | -1.80% | 0.10x | 76.98x | NT$-4.89 Billion |
| 2024 | 9.11% | 0.93% | 0.10x | 99.51x | NT$-148.52 Million |
Industry Comparison
This section compares Mercuries & Associates Holding Ltd's net assets metrics with peer companies in the Insurance - Life industry.
Industry Context
- Industry: Insurance - Life
- Average net assets among peers: $166,443,673,167
- Average return on equity (ROE) among peers: 4.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mercuries & Associates Holding Ltd (2905) | NT$49.08 Billion | 32.67% | 32.17x | $134.53 Million |
| Mercuries Life Insurance Co Ltd (2867) | $7.03 Billion | 0.00% | 40.99x | $726.04 Million |
| Fubon Financial Holding Co Ltd (2881) | $101.63 Billion | 0.00% | 3.55x | $20.58 Billion |
| Cathay Financial Holding Co Ltd Pref A (2882A) | $529.29 Billion | 9.72% | 16.43x | $15.23 Billion |
| China Development Financial Holding Corp (2883) | $208.79 Billion | 7.84% | 15.94x | $8.13 Billion |
| Shin Kong Financial Holding Co Ltd (2888) | $135.57 Billion | 3.55% | 22.29x | $5.59 Billion |
| Farglory Life Insurance Co. Ltd. (5859) | $16.36 Billion | 3.92% | 25.70x | $223.91 Million |