Test Rite International Co Ltd
Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and other home appliances in the United States of America, Canada, Great Britain, France, Germany, and Australia. It also operates retail chain stores and sells home-related products. The company engages in real estate development and planning business. In addition, it is involved in mechanical and… Read more
Test Rite International Co Ltd (2908) - Net Assets
Latest net assets as of September 2025: NT$7.86 Billion TWD
Based on the latest financial reports, Test Rite International Co Ltd (2908) has net assets worth NT$7.86 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$37.13 Billion) and total liabilities (NT$29.27 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$7.86 Billion |
| % of Total Assets | 21.16% |
| Annual Growth Rate | 3.22% |
| 5-Year Change | 12.7% |
| 10-Year Change | 2.91% |
| Growth Volatility | 11.02 |
Test Rite International Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Test Rite International Co 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 Test Rite International Co Ltd (2000–2024)
The table below shows the annual net assets of Test Rite International Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$7.65 Billion | +12.54% |
| 2023-12-31 | NT$6.79 Billion | -3.99% |
| 2022-12-31 | NT$7.08 Billion | +1.34% |
| 2021-12-31 | NT$6.98 Billion | +2.93% |
| 2020-12-31 | NT$6.78 Billion | +5.40% |
| 2019-12-31 | NT$6.44 Billion | -13.18% |
| 2018-12-31 | NT$7.41 Billion | -3.37% |
| 2017-12-31 | NT$7.67 Billion | +3.45% |
| 2016-12-31 | NT$7.42 Billion | -0.18% |
| 2015-12-31 | NT$7.43 Billion | +0.93% |
| 2014-12-31 | NT$7.36 Billion | +8.36% |
| 2013-12-31 | NT$6.79 Billion | +0.42% |
| 2012-12-31 | NT$6.77 Billion | -6.44% |
| 2011-12-31 | NT$7.23 Billion | +7.38% |
| 2010-12-31 | NT$6.73 Billion | +4.45% |
| 2009-12-31 | NT$6.45 Billion | +9.06% |
| 2008-12-31 | NT$5.91 Billion | -27.72% |
| 2007-12-31 | NT$8.18 Billion | +0.90% |
| 2006-12-31 | NT$8.11 Billion | +16.03% |
| 2005-12-31 | NT$6.99 Billion | +19.42% |
| 2004-12-31 | NT$5.85 Billion | +20.30% |
| 2003-12-31 | NT$4.86 Billion | -4.63% |
| 2002-12-31 | NT$5.10 Billion | +20.13% |
| 2001-12-31 | NT$4.24 Billion | +18.66% |
| 2000-12-31 | NT$3.58 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Test Rite International 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 decreased by 58.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$356.40 Million | 4.98% |
| Common Stock | NT$5.10 Billion | 71.26% |
| Other Comprehensive Income | NT$1.70 Billion | 23.72% |
| Other Components | NT$2.45 Million | 0.03% |
| Total Equity | NT$7.15 Billion | 100.00% |
Test Rite International Co Ltd Competitors by Market Cap
The table below lists competitors of Test Rite International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
NK Co. Ltd
KO:085310
|
$33.48 Million |
|
Deutsche Rohstoff AG
XETRA:DR0
|
$33.50 Million |
|
Theralase Technologies Inc.
OTCQB:TLTFF
|
$33.52 Million |
|
Perdana Karya Perkasa Tbk
JK:PKPK
|
$33.53 Million |
|
FIRMA OPON.DEBICA SA ZY 8
F:FD8
|
$33.44 Million |
|
Golden Valley Bancshares Inc
PINK:GVYB
|
$33.44 Million |
|
Patronus Resources Ltd
AU:PTN
|
$33.41 Million |
|
Qliro AB
ST:QLIRO
|
$33.41 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Test Rite International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,553,621,000 to 7,154,897,000, a change of 601,276,000 (9.2%).
- Net income of 331,711,000 contributed positively to equity growth.
- Dividend payments of 297,349,000 reduced retained earnings.
- New share issuances of 312,321,000 increased equity.
- Other comprehensive income increased equity by 1,992,346,000.
- Other factors decreased equity by 1,737,753,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$331.71 Million | +4.64% |
| Dividends Paid | NT$297.35 Million | -4.16% |
| Share Issuances | NT$312.32 Million | +4.37% |
| Other Comprehensive Income | NT$1.99 Billion | +27.85% |
| Other Changes | NT$-1.74 Billion | -24.29% |
| Total Change | NT$- | 9.17% |
Book Value vs Market Value Analysis
This analysis compares Test Rite International 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: 1.41x
- 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 1.63x to 1.41x 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$12.33 | NT$20.10 | x |
| 2005-12-31 | NT$12.52 | NT$20.10 | x |
| 2006-12-31 | NT$12.71 | NT$20.10 | x |
| 2007-12-31 | NT$13.12 | NT$20.10 | x |
| 2008-12-31 | NT$11.67 | NT$20.10 | x |
| 2009-12-31 | NT$13.08 | NT$20.10 | x |
| 2010-12-31 | NT$12.68 | NT$20.10 | x |
| 2011-12-31 | NT$14.43 | NT$20.10 | x |
| 2012-12-31 | NT$13.34 | NT$20.10 | x |
| 2013-12-31 | NT$13.85 | NT$20.10 | x |
| 2014-12-31 | NT$14.70 | NT$20.10 | x |
| 2015-12-31 | NT$14.62 | NT$20.10 | x |
| 2016-12-31 | NT$14.53 | NT$20.10 | x |
| 2017-12-31 | NT$14.95 | NT$20.10 | x |
| 2018-12-31 | NT$14.39 | NT$20.10 | x |
| 2019-12-31 | NT$12.52 | NT$20.10 | x |
| 2020-12-31 | NT$13.39 | NT$20.10 | x |
| 2021-12-31 | NT$13.75 | NT$20.10 | x |
| 2022-12-31 | NT$13.89 | NT$20.10 | x |
| 2023-12-31 | NT$13.22 | NT$20.10 | x |
| 2024-12-31 | NT$14.21 | NT$20.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Test Rite International 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): 4.64%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.90%
- • Asset Turnover: 1.02x
- • Equity Multiplier: 5.05x
- Recent ROE (4.64%) is below the historical average (8.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 14.04% | 3.92% | 2.02x | 1.77x | NT$171.35 Million |
| 2002 | 14.71% | 4.33% | 2.04x | 1.67x | NT$240.20 Million |
| 2003 | 3.74% | 0.94% | 1.84x | 2.16x | NT$-304.20 Million |
| 2004 | 15.31% | 3.90% | 1.88x | 2.09x | NT$288.59 Million |
| 2005 | 13.08% | 2.11% | 1.97x | 3.15x | NT$171.27 Million |
| 2006 | 7.28% | 1.25% | 1.65x | 3.54x | NT$-158.73 Million |
| 2007 | 9.44% | 1.58% | 1.49x | 4.02x | NT$-34.22 Million |
| 2008 | 5.33% | 0.87% | 1.39x | 4.40x | NT$-249.44 Million |
| 2009 | 2.27% | 0.47% | 1.31x | 3.68x | NT$-466.75 Million |
| 2010 | 7.68% | 1.49% | 1.41x | 3.65x | NT$-147.17 Million |
| 2011 | 8.48% | 1.77% | 1.30x | 3.67x | NT$-114.24 Million |
| 2012 | 7.68% | 1.44% | 1.56x | 3.41x | NT$-153.77 Million |
| 2013 | 9.39% | 1.80% | 1.51x | 3.46x | NT$-41.13 Million |
| 2014 | 9.62% | 1.96% | 1.44x | 3.40x | NT$-27.61 Million |
| 2015 | 9.03% | 1.86% | 1.43x | 3.39x | NT$-72.08 Million |
| 2016 | 9.12% | 1.91% | 1.46x | 3.28x | NT$-65.26 Million |
| 2017 | 10.79% | 2.23% | 1.62x | 3.00x | NT$59.97 Million |
| 2018 | 5.54% | 1.02% | 1.53x | 3.54x | NT$-327.29 Million |
| 2019 | 1.59% | 0.26% | 1.07x | 5.67x | NT$-529.36 Million |
| 2020 | 11.93% | 1.89% | 1.11x | 5.67x | NT$127.80 Million |
| 2021 | 11.48% | 1.79% | 1.14x | 5.63x | NT$100.83 Million |
| 2022 | 6.18% | 1.14% | 0.97x | 5.62x | NT$-262.98 Million |
| 2023 | 3.93% | 0.73% | 0.97x | 5.58x | NT$-397.66 Million |
| 2024 | 4.64% | 0.90% | 1.02x | 5.05x | NT$-383.78 Million |
Industry Comparison
This section compares Test Rite International Co Ltd's net assets metrics with peer companies in the Home Improvement Retail industry.
Industry Context
- Industry: Home Improvement Retail
- Average net assets among peers: $1,063,754,000
- Average return on equity (ROE) among peers: 6.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Test Rite International Co Ltd (2908) | NT$7.86 Billion | 14.04% | 3.73x | $33.48 Million |
| Bausen Inc. (2948) | $1.06 Billion | 6.17% | 1.19x | $9.61 Million |