TST Group Holding Ltd
TST Group Holding Ltd. manufactures and sales of cotton fabric in textile industry. The company was founded in 1995 and is based in George Town, Cayman Islands.
TST Group Holding Ltd (4439) - Net Assets
Latest net assets as of December 2025: NT$3.36 Billion TWD
Based on the latest financial reports, TST Group Holding Ltd (4439) has net assets worth NT$3.36 Billion TWD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$6.20 Billion) and total liabilities (NT$2.85 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$3.36 Billion |
| % of Total Assets | 54.11% |
| Annual Growth Rate | 16.81% |
| 5-Year Change | 34.56% |
| 10-Year Change | N/A |
| Growth Volatility | 45.59 |
TST Group Holding Ltd - Net Assets Trend (2016–2025)
This chart illustrates how TST Group 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 TST Group Holding Ltd (2016–2025)
The table below shows the annual net assets of TST Group Holding Ltd from 2016 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.36 Billion | +3.27% |
| 2024-12-31 | NT$3.25 Billion | +2.92% |
| 2023-12-31 | NT$3.16 Billion | +4.36% |
| 2022-12-31 | NT$3.03 Billion | +21.32% |
| 2021-12-31 | NT$2.49 Billion | +3.31% |
| 2020-12-31 | NT$2.41 Billion | +3.11% |
| 2019-12-31 | NT$2.34 Billion | +149.74% |
| 2018-12-31 | NT$937.47 Million | +16.56% |
| 2017-12-31 | NT$804.25 Million | -3.02% |
| 2016-12-31 | NT$829.29 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TST Group 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 138.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.33 Billion | 39.70% |
| Common Stock | NT$380.97 Million | 11.35% |
| Other Comprehensive Income | NT$-3.45 Million | -0.10% |
| Other Components | NT$1.65 Billion | 49.05% |
| Total Equity | NT$3.36 Billion | 100.00% |
TST Group Holding Ltd Competitors by Market Cap
The table below lists competitors of TST Group Holding Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sambo Corrugated Board Co. Ltd
KQ:023600
|
$32.05 Million |
|
Lara Exploration Ltd
PINK:LRAXF
|
$32.06 Million |
|
Chunil Express
KO:000650
|
$32.08 Million |
|
Thai Union Feedmill PCL
BK:TFM
|
$32.09 Million |
|
TechPrecision Corporation Common stock
NASDAQ:TPCS
|
$32.04 Million |
|
Bogota Financial Corp
NASDAQ:BSBK
|
$32.04 Million |
|
After You Public Company Limited
BK:AU
|
$32.04 Million |
|
Trakcja PRKiI S.A.
WAR:TRK
|
$32.02 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TST Group Holding Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,249,689,000 to 3,355,977,000, a change of 106,288,000 (3.3%).
- Net income of 294,077,000 contributed positively to equity growth.
- Dividend payments of 81,098,000 reduced retained earnings.
- Other comprehensive income decreased equity by 184,233,000.
- Other factors increased equity by 77,542,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$294.08 Million | +8.76% |
| Dividends Paid | NT$81.10 Million | -2.42% |
| Other Comprehensive Income | NT$-184.23 Million | -5.49% |
| Other Changes | NT$77.54 Million | +2.31% |
| Total Change | NT$- | 3.27% |
Book Value vs Market Value Analysis
This analysis compares TST Group 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: 1.08x
- 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 2.86x to 1.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | NT$30.05 | NT$86.00 | x |
| 2017-12-31 | NT$29.14 | NT$86.00 | x |
| 2018-12-31 | NT$33.97 | NT$86.00 | x |
| 2019-12-31 | NT$69.94 | NT$86.00 | x |
| 2020-12-31 | NT$64.00 | NT$86.00 | x |
| 2021-12-31 | NT$66.25 | NT$86.00 | x |
| 2022-12-31 | NT$80.24 | NT$86.00 | x |
| 2023-12-31 | NT$82.71 | NT$86.00 | x |
| 2024-12-31 | NT$85.42 | NT$86.00 | x |
| 2025-12-31 | NT$79.56 | NT$86.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TST Group 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): 8.76%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.20%
- • Asset Turnover: 1.13x
- • Equity Multiplier: 1.85x
- Recent ROE (8.76%) is below the historical average (16.88%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 22.89% | 4.69% | 1.64x | 2.97x | NT$106.92 Million |
| 2017 | 32.23% | 5.88% | 2.08x | 2.63x | NT$178.80 Million |
| 2018 | 28.08% | 4.56% | 2.08x | 2.95x | NT$169.53 Million |
| 2019 | 16.58% | 5.27% | 1.83x | 1.72x | NT$154.00 Million |
| 2020 | 17.23% | 7.72% | 1.34x | 1.66x | NT$174.64 Million |
| 2021 | 13.48% | 4.53% | 1.53x | 1.95x | NT$86.73 Million |
| 2022 | 14.61% | 5.95% | 1.72x | 1.43x | NT$139.46 Million |
| 2023 | 12.93% | 7.87% | 1.04x | 1.58x | NT$92.44 Million |
| 2024 | 2.02% | 1.21% | 0.94x | 1.77x | NT$-259.31 Million |
| 2025 | 8.76% | 4.20% | 1.13x | 1.85x | NT$-41.52 Million |
Industry Comparison
This section compares TST Group Holding Ltd's net assets metrics with peer companies in the Textile Manufacturing industry.
Industry Context
- Industry: Textile Manufacturing
- Average net assets among peers: $10,082,241,600
- Average return on equity (ROE) among peers: 5.40%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TST Group Holding Ltd (4439) | NT$3.36 Billion | 22.89% | 0.85x | $32.05 Million |
| San Fang Chemical Industry Co Ltd (1307) | $3.11 Billion | 9.38% | 1.04x | $159.74 Million |
| Fulin Plastic Industry Cayman Holding Co Ltd (1341) | $1.12 Billion | 13.50% | 1.05x | $17.61 Million |
| Cathay Consolidated Inc (1342) | $767.81 Million | 20.83% | 0.72x | $152.57 Million |
| Far Eastern New Century Corp (1402) | $69.12 Billion | 1.05% | 1.32x | $2.98 Billion |
| Shinkong Synthetic Fiber Corp (1409) | $14.05 Billion | 3.65% | 0.92x | $539.09 Million |
| Nan Yang Dyeing & Finishing Co Ltd (1410) | $1.26 Billion | 8.25% | 0.21x | $41.23 Million |
| Hung Chou Fiber Ind Co Ltd (1413) | $895.15 Million | 13.02% | 1.59x | $18.51 Million |
| Tung Ho Textile Co Ltd (1414) | $1.54 Billion | -19.15% | 2.15x | $46.96 Million |
| Tong-Hwa Synthetic Fiber Co Ltd (1418) | $2.35 Billion | 0.00% | 0.89x | $10.53 Million |
| Shinkong Textile Co Ltd (1419) | $6.62 Billion | 3.47% | 0.46x | $306.86 Million |