Coremax Corp
Coremax Corporation engages in the research, development, manufacture, and marketing of metal based specialty chemicals and battery materials in Taiwan. The company provides catalysts in liquid form, including prime cobalt acetate, manganese acetate, cobalt manganese acetate, cobalt manganese bromide, cobalt bromide, manganese bromide, and regenerated cobalt manganese bromide solutions; and in cr… Read more
Coremax Corp (4739) - Net Assets
Latest net assets as of December 2025: NT$6.72 Billion TWD
Based on the latest financial reports, Coremax Corp (4739) has net assets worth NT$6.72 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$12.58 Billion) and total liabilities (NT$5.86 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$6.72 Billion |
| % of Total Assets | 53.41% |
| Annual Growth Rate | 12.5% |
| 5-Year Change | 22.89% |
| 10-Year Change | 175.03% |
| Growth Volatility | 13.0 |
Coremax Corp - Net Assets Trend (2009–2025)
This chart illustrates how Coremax Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Coremax Corp (2009–2025)
The table below shows the annual net assets of Coremax Corp from 2009 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$6.72 Billion | +2.62% |
| 2024-12-31 | NT$6.55 Billion | +2.86% |
| 2023-12-31 | NT$6.36 Billion | +7.65% |
| 2022-12-31 | NT$5.91 Billion | +8.15% |
| 2021-12-31 | NT$5.47 Billion | +37.68% |
| 2020-12-31 | NT$3.97 Billion | -2.04% |
| 2019-12-31 | NT$4.05 Billion | -2.53% |
| 2018-12-31 | NT$4.16 Billion | +26.32% |
| 2017-12-31 | NT$3.29 Billion | +34.77% |
| 2016-12-31 | NT$2.44 Billion | +4.30% |
| 2015-12-31 | NT$2.34 Billion | +12.58% |
| 2014-12-31 | NT$2.08 Billion | +30.07% |
| 2013-12-31 | NT$1.60 Billion | +8.65% |
| 2012-12-31 | NT$1.47 Billion | -0.37% |
| 2011-12-31 | NT$1.48 Billion | +24.85% |
| 2010-12-31 | NT$1.18 Billion | +16.00% |
| 2009-12-31 | NT$1.02 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Coremax 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 1034.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.09 Billion | 18.91% |
| Common Stock | NT$1.19 Billion | 20.60% |
| Other Comprehensive Income | NT$664.24 Million | 11.53% |
| Other Components | NT$2.82 Billion | 48.96% |
| Total Equity | NT$5.76 Billion | 100.00% |
Coremax Corp Competitors by Market Cap
The table below lists competitors of Coremax Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Seoul Food Ind Co Ltd
KO:004415
|
$199.96 Million |
|
Addnode Group AB Series B
LSE:0GMG
|
$200.01 Million |
|
Surya Semesta Internusa Tbk
JK:SSIA
|
$200.02 Million |
|
Yongtaiyun Chemical Logistics Co.Ltd
SHE:001228
|
$200.09 Million |
|
Nevro Corp
NYSE:NVRO
|
$199.88 Million |
|
BingEx Ltd
NASDAQ:FLX
|
$199.88 Million |
|
Jiangnan Yifan Motor Co.Ltd
SHE:301023
|
$199.83 Million |
|
Zhejiang Aishida Electric Co Ltd
SHE:002403
|
$199.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Coremax Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,540,038,000 to 5,760,430,000, a change of 220,392,000 (4.0%).
- Net income of 184,312,000 contributed positively to equity growth.
- Dividend payments of 112,077,000 reduced retained earnings.
- New share issuances of 46,540,000 increased equity.
- Other comprehensive income increased equity by 75,325,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$184.31 Million | +3.2% |
| Dividends Paid | NT$112.08 Million | -1.95% |
| Share Issuances | NT$46.54 Million | +0.81% |
| Other Comprehensive Income | NT$75.33 Million | +1.31% |
| Other Changes | NT$26.29 Million | +0.46% |
| Total Change | NT$- | 3.98% |
Book Value vs Market Value Analysis
This analysis compares Coremax 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: 1.34x
- 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 6.24x to 1.34x 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$12.54 | NT$78.20 | x |
| 2010-12-31 | NT$16.24 | NT$78.20 | x |
| 2011-12-31 | NT$20.46 | NT$78.20 | x |
| 2012-12-31 | NT$18.92 | NT$78.20 | x |
| 2013-12-31 | NT$15.79 | NT$78.20 | x |
| 2014-12-31 | NT$19.76 | NT$78.20 | x |
| 2015-12-31 | NT$22.68 | NT$78.20 | x |
| 2016-12-31 | NT$25.51 | NT$78.20 | x |
| 2017-12-31 | NT$32.87 | NT$78.20 | x |
| 2018-12-31 | NT$39.77 | NT$78.20 | x |
| 2019-12-31 | NT$35.82 | NT$78.20 | x |
| 2020-12-31 | NT$35.61 | NT$78.20 | x |
| 2021-12-31 | NT$46.71 | NT$78.20 | x |
| 2022-12-31 | NT$44.66 | NT$78.20 | x |
| 2023-12-31 | NT$50.05 | NT$78.20 | x |
| 2024-12-31 | NT$44.62 | NT$78.20 | x |
| 2025-12-31 | NT$58.37 | NT$78.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Coremax Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.20%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.98%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 2.18x
- Recent ROE (3.20%) is below the historical average (7.21%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 9.99% | 3.08% | 0.79x | 4.12x | NT$-51.10K |
| 2010 | 14.79% | 3.62% | 1.13x | 3.61x | NT$34.67 Million |
| 2011 | 8.05% | 2.53% | 1.04x | 3.06x | NT$-18.84 Million |
| 2012 | 0.14% | 0.05% | 0.87x | 3.07x | NT$-95.40 Million |
| 2013 | 1.30% | 0.61% | 0.71x | 3.00x | NT$-97.31 Million |
| 2014 | 13.17% | 6.56% | 0.65x | 3.11x | NT$46.85 Million |
| 2015 | 6.69% | 2.96% | 0.79x | 2.88x | NT$-57.05 Million |
| 2016 | 10.15% | 5.43% | 0.78x | 2.41x | NT$3.13 Million |
| 2017 | 14.37% | 8.26% | 0.86x | 2.02x | NT$125.24 Million |
| 2018 | 11.22% | 6.23% | 0.87x | 2.08x | NT$42.61 Million |
| 2019 | 3.85% | 2.01% | 0.91x | 2.10x | NT$-204.12 Million |
| 2020 | 4.77% | 2.94% | 0.73x | 2.22x | NT$-170.16 Million |
| 2021 | 9.81% | 6.31% | 0.72x | 2.16x | NT$-9.17 Million |
| 2022 | 9.87% | 5.43% | 0.80x | 2.26x | NT$-6.67 Million |
| 2023 | -1.85% | -1.92% | 0.53x | 1.83x | NT$-641.51 Million |
| 2024 | 3.05% | 4.13% | 0.42x | 1.78x | NT$-384.97 Million |
| 2025 | 3.20% | 2.98% | 0.49x | 2.18x | NT$-391.73 Million |
Industry Comparison
This section compares Coremax Corp's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $44,934,559,200
- Average return on equity (ROE) among peers: 11.62%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Coremax Corp (4739) | NT$6.72 Billion | 9.99% | 0.87x | $199.94 Million |
| Formosa Plastics Corp (1301) | $225.33 Billion | 12.22% | 0.47x | $5.82 Billion |
| Nan Ya Plastics Corp (1303) | $142.47 Billion | 14.77% | 1.15x | $13.36 Billion |
| USI Corp (1304) | $29.40 Billion | 10.91% | 0.90x | $220.86 Million |
| China General Plastics Corp (1305) | $4.97 Billion | 0.94% | 1.40x | $160.91 Million |
| Asia Polymer Corp (1308) | $9.82 Billion | 5.76% | 0.52x | $156.91 Million |
| Taita Chemical Co Ltd (1309) | $3.69 Billion | 0.65% | 0.67x | $113.99 Million |
| China Petrochemical Development Corp (1314) | $22.05 Billion | 8.06% | 1.26x | $902.62 Million |
| Ocean Plastics Co Ltd (1321) | $2.93 Billion | 13.39% | 0.47x | $168.69 Million |
| Asia Plastic Recycling Holding Ltd (1337) | $2.63 Billion | 37.56% | 0.24x | $42.00 Million |
| Everlight Chemical Industrial Corp (1711) | $6.07 Billion | 11.90% | 0.51x | $317.86 Million |