Mercuries & Associates Holding Ltd (2905) - Net Assets

Latest as of September 2025: NT$49.08 Billion TWD ≈ $1.55 Billion USD

Based on the latest financial reports, Mercuries & Associates Holding Ltd (2905) has net assets worth NT$49.08 Billion TWD (≈ $1.55 Billion 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$1.63 Trillion ≈ $51.29 Billion USD) and total liabilities (NT$1.58 Trillion ≈ $49.74 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 Mercuries & Associates Holding Ltd liquid asset ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore Mercuries & Associates Holding Ltd (2905) total assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see Mercuries & Associates Holding Ltd market capitalisation.

Year	Net Assets	Change
2024-12-31	NT$50.18 Billion ≈ $1.58 Billion	+3.87%
2023-12-31	NT$48.31 Billion ≈ $1.52 Billion	+52.55%
2022-12-31	NT$31.67 Billion ≈ $997.77 Million	-32.94%
2021-12-31	NT$47.23 Billion ≈ $1.49 Billion	+0.88%
2020-12-31	NT$46.81 Billion ≈ $1.47 Billion	+6.76%
2019-12-31	NT$43.85 Billion ≈ $1.38 Billion	+52.15%
2018-12-31	NT$28.82 Billion ≈ $908.02 Million	-29.45%
2017-12-31	NT$40.85 Billion ≈ $1.29 Billion	+21.72%
2016-12-31	NT$33.56 Billion ≈ $1.06 Billion	+17.02%
2015-12-31	NT$28.68 Billion ≈ $903.58 Million	+3.07%
2014-12-31	NT$27.83 Billion ≈ $876.65 Million	+18.09%
2013-12-31	NT$23.56 Billion ≈ $742.34 Million	-10.88%
2012-12-31	NT$26.44 Billion ≈ $832.92 Million	+113.91%
2011-12-31	NT$12.36 Billion ≈ $389.37 Million	-30.15%
2010-12-31	NT$17.69 Billion ≈ $557.42 Million	+72.36%
2009-12-31	NT$10.27 Billion ≈ $323.41 Million	+31.33%
2008-12-31	NT$7.82 Billion ≈ $246.26 Million	-45.71%
2007-12-31	NT$14.40 Billion ≈ $453.59 Million	+7.18%
2006-12-31	NT$13.43 Billion ≈ $423.21 Million	+12.26%
2005-12-31	NT$11.97 Billion ≈ $376.98 Million	+79.91%
2004-12-31	NT$6.65 Billion ≈ $209.54 Million	+2.07%
2003-12-31	NT$6.52 Billion ≈ $205.30 Million	+2.39%
2002-12-31	NT$6.36 Billion ≈ $200.51 Million	-13.42%
2001-12-31	NT$7.35 Billion ≈ $231.58 Million	+47.29%
2000-12-31	NT$4.99 Billion ≈ $157.24 Million	--

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
Pondy Oxides & Chemicals Limited NSE:POCL	$454.63 Million
Lux Industries Limited NSE:LUXIND	$454.71 Million
Banestes S.A - Banco do Estado do Espírito Santo SA:BEES3	$454.73 Million
Falcon's Beyond Global, Inc. Class A Common Stock NASDAQ:FBYD	$454.80 Million
Zhejiang Tailin Bioengineering Co Ltd SHE:300813	$454.55 Million
Xinjiang Torch Gas Co Ltd SHG:603080	$454.29 Million
Unusual Machines, Inc. NYSE MKT:UMAC	$454.27 Million
Guangdong Jinming Machinery Co Ltd SHE:300281	$454.25 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: 0.89x
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 1.79x to 0.89x 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$13.70	x
2005-12-31	NT$6.90	NT$13.70	x
2006-12-31	NT$8.41	NT$13.70	x
2007-12-31	NT$8.46	NT$13.70	x
2008-12-31	NT$5.78	NT$13.70	x
2009-12-31	NT$9.23	NT$13.70	x
2010-12-31	NT$11.08	NT$13.70	x
2011-12-31	NT$8.37	NT$13.70	x
2012-12-31	NT$14.05	NT$13.70	x
2013-12-31	NT$12.00	NT$13.70	x
2014-12-31	NT$13.79	NT$13.70	x
2015-12-31	NT$13.39	NT$13.70	x
2016-12-31	NT$16.27	NT$13.70	x
2017-12-31	NT$19.51	NT$13.70	x
2018-12-31	NT$15.53	NT$13.70	x
2019-12-31	NT$21.29	NT$13.70	x
2020-12-31	NT$22.36	NT$13.70	x
2021-12-31	NT$19.89	NT$13.70	x
2022-12-31	NT$11.50	NT$13.70	x
2023-12-31	NT$21.71	NT$13.70	x
2024-12-31	NT$15.43	NT$13.70	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: $389,891,329,125
Average return on equity (ROE) among peers: 8.32%

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	$454.62 Million
Mercuries Life Insurance Co Ltd (2867)	$39.21 Billion	8.12%	25.85x	$1.43 Billion
Fubon Financial Holding Co Ltd (2881)	$167.80 Billion	5.01%	9.28x	$39.72 Billion
Fubon Financial Holding Co Ltd Pref (2881A)	$468.83 Billion	10.18%	15.46x	$20.76 Billion
Fubon Financial Holding Co Ltd Pref B (2881B)	$776.78 Billion	11.62%	10.90x	$20.18 Billion
Cathay Financial Holding Co Ltd (2882)	$934.39 Billion	11.47%	14.32x	$35.68 Billion
Cathay Financial Holding Co Ltd Pref A (2882A)	$529.29 Billion	9.72%	16.43x	$24.53 Billion
China Development Financial Holding Corp (2883)	$134.53 Billion	0.10%	0.50x	$11.38 Billion
Shin Kong Financial Holding Co Ltd (2888)	$68.30 Billion	10.33%	18.49x	$6.58 Billion

About Mercuries & Associates Holding Ltd

TW:2905 Taiwan Insurance - Life

Market Cap

$454.62 Million

NT$14.43 Billion TWD

Market Cap Rank

#13039 Global

#475 in Taiwan

Share Price

NT$13.70

Change (1 day)

-1.08%

52-Week Range

NT$12.00 - NT$17.10

All Time High

NT$26.51