TSEC Corp Net Assets
TSEC Corp net assets. Based on the latest financial reports, TSEC Corp (6443) has net assets worth NT$3.54 Billion TWD (≈ $111.67 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$6.35 Billion ≈ $200.16 Million USD) and total liabilities (NT$2.81 Billion ≈ $88.49 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 6443 net assets growth trend to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.54 Billion |
| % of Total Assets | 55.79% |
| Annual Growth Rate | 3.29% |
| 5-Year Change | -29.0% |
| 10-Year Change | -22.01% |
| Growth Volatility | 24.31 |
Net Assets of TSEC Corp (2012–2025)
Net assets of TSEC Corp from 2012 to 2025. This chart illustrates how TSEC Corp's net assets have evolved over time, based on quarterly financial data. See TSEC Corp (6443) net asset quality to measure how much of total assets are equity-financed.
Annual Net Assets for TSEC Corp (2012–2025)
The table below shows the annual net assets of TSEC Corp from 2012 to 2025. For live market cap and overall valuation, see market value of TSEC Corp.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.64 Billion ≈ $114.74 Million |
-46.70% |
| 2024-12-31 | NT$6.83 Billion ≈ $215.30 Million |
-10.66% |
| 2023-12-31 | NT$7.65 Billion ≈ $240.99 Million |
+24.36% |
| 2022-12-31 | NT$6.15 Billion ≈ $193.78 Million |
+19.91% |
| 2021-12-31 | NT$5.13 Billion ≈ $161.61 Million |
+7.35% |
| 2020-12-31 | NT$4.78 Billion ≈ $150.54 Million |
+47.95% |
| 2019-12-31 | NT$3.23 Billion ≈ $101.75 Million |
+8.96% |
| 2018-12-31 | NT$2.96 Billion ≈ $93.39 Million |
-31.30% |
| 2017-12-31 | NT$4.31 Billion ≈ $135.94 Million |
-7.60% |
| 2016-12-31 | NT$4.67 Billion ≈ $147.13 Million |
+25.22% |
| 2015-12-31 | NT$3.73 Billion ≈ $117.50 Million |
+23.43% |
| 2014-12-31 | NT$3.02 Billion ≈ $95.20 Million |
+13.51% |
| 2013-12-31 | NT$2.66 Billion ≈ $83.86 Million |
+11.30% |
| 2012-12-31 | NT$2.39 Billion ≈ $75.35 Million |
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Equity Component Analysis
This analysis shows how different components contribute to TSEC 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 decreased by 180256100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
TSEC Corp Net Assets Breakdown (December 2025)
TSEC Corp net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$5.13 Billion | 140.91% |
| Other Comprehensive Income | NT$514.21 Million | 14.13% |
| Other Components | NT$1.36 Billion | 37.41% |
| Total Equity | NT$3.64 Billion | 100.00% |
TSEC Corp Competitors by Market Cap
The table below lists competitors of TSEC Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Eurocharm Holdings Co Ltd
TW:5288
|
$370.01 Million |
|
ShenZhen V&T Technologies Co Ltd
SHE:300484
|
$370.14 Million |
|
Pioneer Bancorp Inc
NASDAQ:PBFS
|
$370.25 Million |
|
Meier Tobler Group AG
SW:MTG
|
$370.28 Million |
|
Vizionfocus Inc.
TW:4771
|
$369.93 Million |
|
Samhi Hotels Limited
NSE:SAMHI
|
$369.93 Million |
|
Guangdong Lifestrong Pharmacy Co. Ltd.
SHE:301111
|
$369.93 Million |
|
PT Temas Tbk
JK:TMAS
|
$369.88 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TSEC Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 6,830,700,000 to 3,639,154,000, a change of -3,191,546,000 (-46.7%).
- Net loss of 3,199,455,000 reduced equity.
- Other comprehensive income increased equity by 684,722,998.
- Other factors decreased equity by 676,813,998.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-3.20 Billion | -87.92% |
| Other Comprehensive Income | NT$684.72 Million | +18.82% |
| Other Changes | NT$-676.81 Million | -18.6% |
| Total Change | NT$- | -46.72% |
Book Value vs Market Value Analysis
This analysis compares TSEC 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: 3.23x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 2.61x to 3.23x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | NT$8.76 | NT$22.90 | x |
| 2013-12-31 | NT$12.01 | NT$22.90 | x |
| 2014-12-31 | NT$13.26 | NT$22.90 | x |
| 2015-12-31 | NT$15.66 | NT$22.90 | x |
| 2016-12-31 | NT$16.45 | NT$22.90 | x |
| 2017-12-31 | NT$13.49 | NT$22.90 | x |
| 2018-12-31 | NT$8.94 | NT$22.90 | x |
| 2019-12-31 | NT$9.15 | NT$22.90 | x |
| 2020-12-31 | NT$12.16 | NT$22.90 | x |
| 2021-12-31 | NT$11.31 | NT$22.90 | x |
| 2022-12-31 | NT$13.20 | NT$22.90 | x |
| 2023-12-31 | NT$14.75 | NT$22.90 | x |
| 2024-12-31 | NT$13.32 | NT$22.90 | x |
| 2025-12-31 | NT$7.10 | NT$22.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TSEC Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -87.92%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -175.28%
- • Asset Turnover: 0.28x
- • Equity Multiplier: 1.82x
- Recent ROE (-87.92%) is below the historical average (-12.04%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | -29.42% | -29.58% | 0.38x | 2.65x | NT$-938.46 Million |
| 2013 | 10.11% | 5.46% | 0.75x | 2.48x | NT$2.97 Million |
| 2014 | 5.72% | 2.72% | 0.91x | 2.32x | NT$-127.87 Million |
| 2015 | 4.71% | 2.41% | 0.95x | 2.05x | NT$-193.17 Million |
| 2016 | 0.28% | 0.17% | 0.83x | 2.03x | NT$-444.31 Million |
| 2017 | -22.91% | -14.33% | 0.65x | 2.47x | NT$-1.37 Billion |
| 2018 | -39.02% | -30.19% | 0.46x | 2.80x | NT$-1.45 Billion |
| 2019 | -6.22% | -4.51% | 0.57x | 2.43x | NT$-522.86 Million |
| 2020 | -5.99% | -6.16% | 0.49x | 1.98x | NT$-760.53 Million |
| 2021 | 0.90% | 0.75% | 0.60x | 1.99x | NT$-466.63 Million |
| 2022 | 3.08% | 2.11% | 0.80x | 1.84x | NT$-425.42 Million |
| 2023 | 6.90% | 6.38% | 0.68x | 1.58x | NT$-237.34 Million |
| 2024 | -8.79% | -13.29% | 0.44x | 1.51x | NT$-1.28 Billion |
| 2025 | -87.92% | -175.28% | 0.28x | 1.82x | NT$-3.56 Billion |
Industry Comparison
This section compares TSEC Corp's net assets metrics with peer companies in the Solar industry.
Industry Context
- Industry: Solar
- Average net assets among peers: $3,460,243,875
- Average return on equity (ROE) among peers: -10.42%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TSEC Corp (6443) | NT$3.54 Billion | -29.42% | 0.79x | $369.97 Million |
| Gigastorage Corp (2406) | $4.17 Billion | 0.00% | 0.61x | $296.84 Million |
| United Renewable Energy Co Ltd (3576) | $11.32 Billion | -18.85% | 1.44x | $802.08 Million |
| Danen Technology Corp (3686) | $704.78 Million | -4.16% | 0.01x | $33.26 Million |
| Gigasolar Materials (3691) | $5.36 Billion | 3.53% | 1.30x | $387.91 Million |
| Hsinjing Holding Co Ltd (3713) | $564.15 Million | -10.63% | 0.00x | $40.24 Million |
| Tainergy Tech Co Ltd (4934) | $1.81 Billion | -51.28% | 1.23x | $93.22 Million |
| Motech Industries Co Ltd (6244) | $3.29 Billion | 3.25% | 1.66x | $235.95 Million |
| ANJI Technology Co. Ltd (6477) | $463.48 Million | -5.19% | 0.90x | $113.10 Million |
About TSEC Corp
TSEC Corporation engages in the research and development, production, and sales of solar cells and modules in Asia, Europe, and internationally. The company operates through Solar Module and Other segments. It is involved in the sale of solar related products; energy storage system of regulation reserve; rental of solar power generating equipment; sale of self-generated electricity, and provision… Read more