Tonlin Department Store Co Ltd (2910) - Net Assets
Based on the latest financial reports, Tonlin Department Store Co Ltd (2910) has net assets worth NT$2.71 Billion TWD (≈ $85.36 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$6.19 Billion ≈ $195.15 Million USD) and total liabilities (NT$3.48 Billion ≈ $109.79 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 asset resilience ratio of Tonlin Department Store Co Ltd to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.71 Billion |
| % of Total Assets | 43.74% |
| Annual Growth Rate | 3.15% |
| 5-Year Change | 15.15% |
| 10-Year Change | 23.07% |
| Growth Volatility | 5.62 |
Tonlin Department Store Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Tonlin Department Store Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Tonlin Department Store Co Ltd (2910) total assets for the complete picture of this company's asset base.
Annual Net Assets for Tonlin Department Store Co Ltd (2002–2024)
The table below shows the annual net assets of Tonlin Department Store Co Ltd from 2002 to 2024. For live valuation and market cap data, see Tonlin Department Store Co Ltd market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$2.72 Billion ≈ $85.73 Million |
+5.06% |
| 2023-12-31 | NT$2.59 Billion ≈ $81.60 Million |
+8.46% |
| 2022-12-31 | NT$2.39 Billion ≈ $75.23 Million |
-0.38% |
| 2021-12-31 | NT$2.40 Billion ≈ $75.52 Million |
+1.44% |
| 2020-12-31 | NT$2.36 Billion ≈ $74.45 Million |
-0.44% |
| 2019-12-31 | NT$2.37 Billion ≈ $74.78 Million |
+5.46% |
| 2018-12-31 | NT$2.25 Billion ≈ $70.91 Million |
+2.43% |
| 2017-12-31 | NT$2.20 Billion ≈ $69.23 Million |
-2.93% |
| 2016-12-31 | NT$2.26 Billion ≈ $71.31 Million |
+2.38% |
| 2015-12-31 | NT$2.21 Billion ≈ $69.66 Million |
-2.81% |
| 2014-12-31 | NT$2.27 Billion ≈ $71.67 Million |
+2.63% |
| 2013-12-31 | NT$2.22 Billion ≈ $69.83 Million |
-2.64% |
| 2012-12-31 | NT$2.28 Billion ≈ $71.73 Million |
-1.50% |
| 2011-12-31 | NT$2.31 Billion ≈ $72.82 Million |
+14.75% |
| 2010-12-31 | NT$2.01 Billion ≈ $63.46 Million |
+7.82% |
| 2009-12-31 | NT$1.87 Billion ≈ $58.86 Million |
-1.66% |
| 2008-12-31 | NT$1.90 Billion ≈ $59.85 Million |
-3.37% |
| 2007-12-31 | NT$1.97 Billion ≈ $61.94 Million |
+3.60% |
| 2006-12-31 | NT$1.90 Billion ≈ $59.79 Million |
-0.86% |
| 2005-12-31 | NT$1.91 Billion ≈ $60.31 Million |
+6.61% |
| 2004-12-31 | NT$1.80 Billion ≈ $56.57 Million |
+15.38% |
| 2003-12-31 | NT$1.56 Billion ≈ $49.03 Million |
+13.17% |
| 2002-12-31 | NT$1.37 Billion ≈ $43.32 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Tonlin Department Store 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 27.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$199.53 Million | 7.33% |
| Common Stock | NT$1.75 Billion | 64.46% |
| Other Comprehensive Income | NT$767.48 Million | 28.21% |
| Total Equity | NT$2.72 Billion | 100.00% |
Tonlin Department Store Co Ltd Competitors by Market Cap
The table below lists competitors of Tonlin Department Store Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Automotive Systems Inc
F:RYV
|
$119.38 Million |
|
Captor Therapeutics S.A.
WAR:CTX
|
$119.47 Million |
|
Spir Group ASA
OL:SPIR
|
$119.48 Million |
|
After You Public Company Limited
BK:AU
|
$119.48 Million |
|
Tempore Properties SOCIMI SAU
MC:YTEM
|
$119.34 Million |
|
Newcore Gold Ltd
V:NCAU
|
$119.32 Million |
|
Prime Office A/S
CO:PRIMOF
|
$119.31 Million |
|
Inhibikase Therapeutics Inc
NASDAQ:IKT
|
$119.23 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tonlin Department Store Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,590,058,000 to 2,721,046,000, a change of 130,988,000 (5.1%).
- Net income of 197,935,000 contributed positively to equity growth.
- Dividend payments of 59,689,000 reduced retained earnings.
- Other comprehensive income decreased equity by 272,968,000.
- Other factors increased equity by 265,710,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$197.94 Million | +7.27% |
| Dividends Paid | NT$59.69 Million | -2.19% |
| Other Comprehensive Income | NT$-272.97 Million | -10.03% |
| Other Changes | NT$265.71 Million | +9.76% |
| Total Change | NT$- | 5.06% |
Book Value vs Market Value Analysis
This analysis compares Tonlin Department Store 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: 1.39x
- 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 2.02x to 1.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$10.68 | NT$21.60 | x |
| 2010-12-31 | NT$11.51 | NT$21.60 | x |
| 2011-12-31 | NT$13.20 | NT$21.60 | x |
| 2012-12-31 | NT$12.99 | NT$21.60 | x |
| 2013-12-31 | NT$12.66 | NT$21.60 | x |
| 2014-12-31 | NT$12.99 | NT$21.60 | x |
| 2015-12-31 | NT$12.60 | NT$21.60 | x |
| 2016-12-31 | NT$12.90 | NT$21.60 | x |
| 2017-12-31 | NT$12.53 | NT$21.60 | x |
| 2018-12-31 | NT$12.83 | NT$21.60 | x |
| 2019-12-31 | NT$13.53 | NT$21.60 | x |
| 2020-12-31 | NT$13.47 | NT$21.60 | x |
| 2021-12-31 | NT$13.66 | NT$21.60 | x |
| 2022-12-31 | NT$13.61 | NT$21.60 | x |
| 2023-12-31 | NT$14.77 | NT$21.60 | x |
| 2024-12-31 | NT$15.51 | NT$21.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tonlin Department Store 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): 7.27%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 32.66%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.19x
- Recent ROE (7.27%) is below the historical average (7.71%), 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 | 16.24% | 10.19% | 0.59x | 2.70x | NT$85.74 Million |
| 2003 | 15.89% | 11.31% | 0.58x | 2.44x | NT$91.69 Million |
| 2004 | 11.84% | 9.19% | 0.63x | 2.03x | NT$33.03 Million |
| 2005 | 14.23% | 11.78% | 0.67x | 1.80x | NT$81.00 Million |
| 2006 | 12.55% | 11.48% | 0.63x | 1.75x | NT$48.41 Million |
| 2007 | 13.53% | 13.29% | 0.64x | 1.60x | NT$69.40 Million |
| 2008 | 11.44% | 11.99% | 0.62x | 1.53x | NT$27.35 Million |
| 2009 | 6.39% | 6.30% | 0.50x | 2.02x | NT$-67.39 Million |
| 2010 | 7.31% | 7.32% | 0.54x | 1.85x | NT$-54.23 Million |
| 2011 | 5.28% | 6.03% | 0.46x | 1.91x | NT$-109.11 Million |
| 2012 | 5.54% | 6.57% | 0.42x | 2.02x | NT$-101.53 Million |
| 2013 | 4.51% | 15.06% | 0.13x | 2.33x | NT$-121.74 Million |
| 2014 | 7.50% | 17.39% | 0.18x | 2.35x | NT$-56.97 Million |
| 2015 | 3.64% | 12.03% | 0.12x | 2.51x | NT$-140.55 Million |
| 2016 | 1.62% | 5.49% | 0.12x | 2.48x | NT$-189.79 Million |
| 2017 | 1.18% | 9.21% | 0.05x | 2.63x | NT$-193.76 Million |
| 2018 | 4.00% | 20.66% | 0.07x | 2.93x | NT$-134.96 Million |
| 2019 | 4.71% | 17.19% | 0.10x | 2.65x | NT$-125.57 Million |
| 2020 | 4.83% | 20.59% | 0.09x | 2.65x | NT$-122.14 Million |
| 2021 | 5.87% | 26.62% | 0.09x | 2.51x | NT$-99.00 Million |
| 2022 | 4.04% | 13.54% | 0.12x | 2.39x | NT$-142.40 Million |
| 2023 | 7.91% | 29.95% | 0.12x | 2.16x | NT$-54.10 Million |
| 2024 | 7.27% | 32.66% | 0.10x | 2.19x | NT$-74.17 Million |
Industry Comparison
This section compares Tonlin Department Store Co Ltd's net assets metrics with peer companies in the Department Stores industry.
Industry Context
- Industry: Department Stores
- Average net assets among peers: $9,426,441,000
- Average return on equity (ROE) among peers: 18.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tonlin Department Store Co Ltd (2910) | NT$2.71 Billion | 16.24% | 1.29x | $119.36 Million |
| First Steamship Co Ltd (2601) | $7.18 Billion | 31.68% | 1.17x | $130.18 Million |
| Shin Shin Co Ltd (2901) | $845.89 Million | 3.81% | 0.17x | $55.23 Million |
| Far Eastern Department Stores Ltd (2903) | $36.53 Billion | 5.98% | 2.05x | $985.30 Million |
| Eslite Spectrum (2926) | $1.29 Billion | 18.09% | 11.40x | $56.14 Million |
| Taiwan FamilyMart Co Ltd (5903) | $3.03 Billion | 21.58% | 1.60x | $1.33 Billion |
| Poya International Co Ltd (5904) | $6.31 Billion | 39.99% | 3.07x | $1.93 Billion |
| Grand Ocean Retail Group Ltd (5907) | $10.80 Billion | 9.02% | 0.99x | $32.52 Million |
About Tonlin Department Store Co Ltd
Tonlin Department Store Co.,Ltd. operates retail department stores and engages in investment and construction activities in Taiwan. It offers fashion, beauty, and lifestyle products. The company also operates cafés and restaurants. Tonlin Department Store Co., Ltd. was founded in 1971 and is headquartered in Taipei, Taiwan.