Topkey Corp Net Assets
Topkey Corp net assets. Based on the latest financial reports, Topkey Corp (4536) has net assets worth NT$9.63 Billion TWD (≈ $303.47 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$14.41 Billion ≈ $454.15 Million USD) and total liabilities (NT$4.78 Billion ≈ $150.68 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. Also explore Topkey Corp (4536) equity growth momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$9.63 Billion |
| % of Total Assets | 66.82% |
| Annual Growth Rate | 10.93% |
| 5-Year Change | 64.66% |
| 10-Year Change | 93.07% |
| Growth Volatility | 15.81 |
Net Assets of Topkey Corp (2009–2025)
Net assets of Topkey Corp from 2009 to 2025. This chart illustrates how Topkey Corp's net assets have evolved over time, based on quarterly financial data. See 4536 net asset quality score to measure how much of total assets are equity-financed.
Annual Net Assets for Topkey Corp (2009–2025)
The table below shows the annual net assets of Topkey Corp from 2009 to 2025. For live market cap and overall valuation, see 4536 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$9.86 Billion ≈ $310.74 Million |
+2.63% |
| 2024-12-31 | NT$9.61 Billion ≈ $302.78 Million |
+13.81% |
| 2023-12-31 | NT$8.44 Billion ≈ $266.05 Million |
+3.96% |
| 2022-12-31 | NT$8.12 Billion ≈ $255.91 Million |
+35.61% |
| 2021-12-31 | NT$5.99 Billion ≈ $188.71 Million |
+7.15% |
| 2020-12-31 | NT$5.59 Billion ≈ $176.12 Million |
+2.95% |
| 2019-12-31 | NT$5.43 Billion ≈ $171.07 Million |
+3.15% |
| 2018-12-31 | NT$5.26 Billion ≈ $165.84 Million |
+10.40% |
| 2017-12-31 | NT$4.77 Billion ≈ $150.22 Million |
-6.67% |
| 2016-12-31 | NT$5.11 Billion ≈ $160.95 Million |
-1.04% |
| 2015-12-31 | NT$5.16 Billion ≈ $162.64 Million |
+3.43% |
| 2014-12-31 | NT$4.99 Billion ≈ $157.25 Million |
+8.35% |
| 2013-12-31 | NT$4.61 Billion ≈ $145.13 Million |
+56.22% |
| 2012-12-31 | NT$2.95 Billion ≈ $92.90 Million |
+0.50% |
| 2011-12-31 | NT$2.93 Billion ≈ $92.44 Million |
+30.60% |
| 2010-12-31 | NT$2.25 Billion ≈ $70.78 Million |
+19.81% |
| 2009-12-31 | NT$1.87 Billion ≈ $59.07 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Topkey Corp'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 1676.7% over the analyzed period, indicating profitable operations and earnings retention.
Topkey Corp Net Assets Breakdown (December 2025)
Topkey Corp net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$5.72 Billion | 60.75% |
| Common Stock | NT$908.20 Million | 9.64% |
| Other Comprehensive Income | NT$1.24 Billion | 13.18% |
| Other Components | NT$1.55 Billion | 16.44% |
| Total Equity | NT$9.42 Billion | 100.00% |
Topkey Corp Competitors by Market Cap
The table below lists competitors of Topkey Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Lanzhou Greatwall Electrical Co Ltd
SHG:600192
|
$429.22 Million |
|
Industrial Logistics Properties Trust
NASDAQ:ILPT
|
$429.33 Million |
|
Zhejiang Liming Intelligent Manufacturing Co Ltd
SHG:603048
|
$429.43 Million |
|
Qifeng New Material Co Ltd
SHE:002521
|
$429.44 Million |
|
BANK OG TIANJIN H YC1
F:B95
|
$429.10 Million |
|
D&O Home Collection Co Ltd
SHE:002798
|
$429.00 Million |
|
SNT Dynamics Co Ltd
KO:003570
|
$428.92 Million |
|
Tianjin Jieqiang Power Equipment Co
SHE:300875
|
$428.92 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Topkey Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,207,119,000 to 9,424,268,000, a change of 217,149,000 (2.4%).
- Net income of 1,354,594,000 contributed positively to equity growth.
- Dividend payments of 999,020,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,241,724,000.
- Other factors decreased equity by 1,380,149,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.35 Billion | +14.37% |
| Dividends Paid | NT$999.02 Million | -10.6% |
| Other Comprehensive Income | NT$1.24 Billion | +13.18% |
| Other Changes | NT$-1.38 Billion | -14.64% |
| Total Change | NT$- | 2.36% |
Book Value vs Market Value Analysis
This analysis compares Topkey Corp'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: 1.57x
- 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 7.26x to 1.57x 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$20.67 | NT$150.00 | x |
| 2010-12-31 | NT$24.17 | NT$150.00 | x |
| 2011-12-31 | NT$31.54 | NT$150.00 | x |
| 2012-12-31 | NT$33.13 | NT$150.00 | x |
| 2013-12-31 | NT$51.39 | NT$150.00 | x |
| 2014-12-31 | NT$51.09 | NT$150.00 | x |
| 2015-12-31 | NT$52.93 | NT$150.00 | x |
| 2016-12-31 | NT$52.12 | NT$150.00 | x |
| 2017-12-31 | NT$49.87 | NT$150.00 | x |
| 2018-12-31 | NT$55.43 | NT$150.00 | x |
| 2019-12-31 | NT$57.76 | NT$150.00 | x |
| 2020-12-31 | NT$58.55 | NT$150.00 | x |
| 2021-12-31 | NT$62.05 | NT$150.00 | x |
| 2022-12-31 | NT$83.76 | NT$150.00 | x |
| 2023-12-31 | NT$87.92 | NT$150.00 | x |
| 2024-12-31 | NT$100.79 | NT$150.00 | x |
| 2025-12-31 | NT$95.40 | NT$150.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Topkey Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.37%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.72%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 1.48x
- Recent ROE (14.37%) is below the historical average (15.33%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 0.56% | 0.24% | 0.97x | 2.40x | NT$-161.46 Million |
| 2010 | 19.94% | 7.27% | 1.11x | 2.47x | NT$198.90 Million |
| 2011 | 19.36% | 8.62% | 0.97x | 2.31x | NT$244.82 Million |
| 2012 | 16.41% | 7.20% | 1.03x | 2.21x | NT$176.20 Million |
| 2013 | 12.19% | 8.75% | 0.87x | 1.60x | NT$95.24 Million |
| 2014 | 11.84% | 8.40% | 0.83x | 1.70x | NT$85.53 Million |
| 2015 | 12.67% | 9.19% | 0.82x | 1.69x | NT$128.75 Million |
| 2016 | 16.40% | 12.53% | 0.72x | 1.83x | NT$304.04 Million |
| 2017 | 10.63% | 7.65% | 0.68x | 2.05x | NT$28.54 Million |
| 2018 | 16.71% | 11.43% | 0.75x | 1.94x | NT$339.25 Million |
| 2019 | 16.45% | 11.98% | 0.73x | 1.87x | NT$339.33 Million |
| 2020 | 12.73% | 9.39% | 0.71x | 1.91x | NT$145.57 Million |
| 2021 | 14.70% | 9.57% | 0.77x | 1.99x | NT$266.07 Million |
| 2022 | 29.51% | 20.61% | 0.68x | 2.12x | NT$1.49 Billion |
| 2023 | 17.62% | 15.27% | 0.68x | 1.71x | NT$612.03 Million |
| 2024 | 18.60% | 18.07% | 0.59x | 1.76x | NT$792.10 Million |
| 2025 | 14.37% | 14.72% | 0.66x | 1.48x | NT$412.17 Million |
Industry Comparison
This section compares Topkey Corp's net assets metrics with peer companies in the Leisure industry.
Industry Context
- Industry: Leisure
- Average net assets among peers: $2,792,904,000
- Average return on equity (ROE) among peers: 8.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Topkey Corp (4536) | NT$9.63 Billion | 0.56% | 0.50x | $429.20 Million |
| Trk Corp (1432) | $1.09 Billion | 2.77% | 1.14x | $50.36 Million |
| Rexon Industrial Corp Ltd (1515) | $3.76 Billion | 21.73% | 1.54x | $149.80 Million |
| Sun Race Sturmey-Archer Inc (1526) | $759.53 Million | 17.86% | 1.85x | $30.72 Million |
| Chi Hua Fitness Co Ltd (1593) | $811.29 Million | 11.78% | 0.28x | $38.10 Million |
| Dyaco International Inc (1598) | $898.02 Million | 2.73% | 2.00x | $98.86 Million |
| Johnson Health Tech Co Ltd (1736) | $6.71 Billion | 12.77% | 1.21x | $1.14 Billion |
| Brogent Technologies (5263) | $3.71 Billion | -5.32% | 0.61x | $192.56 Million |
| Janfusun Fancyworld (5701) | $1.42 Billion | -24.54% | 1.65x | $17.17 Million |
| Fusheng Precision Co Ltd (6670) | $5.98 Billion | 33.53% | 0.75x | $1.13 Billion |
About Topkey Corp
Topkey Corporation, together with its subsidiaries, produces, processes, sells, and trades in sporting goods in Asia, Europe, America, and internationally. It operates through Sports Products, Aviation and Medical Products, and Others segments. The company offers glass and carbon fiber products; composite materials; glasses; vehicle and bike components; and water gage and HRNT products. It also p… Read more