Shui-Mu International Co Ltd (8443) - Net Assets
Based on the latest financial reports, Shui-Mu International Co Ltd (8443) has net assets worth NT$688.15 Million TWD (≈ $21.68 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$1.67 Billion ≈ $52.70 Million USD) and total liabilities (NT$984.50 Million ≈ $31.02 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 8443 asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$688.15 Million |
| % of Total Assets | 41.14% |
| Annual Growth Rate | -3.24% |
| 5-Year Change | -39.71% |
| 10-Year Change | -54.52% |
| Growth Volatility | 12.77 |
Shui-Mu International Co Ltd - Net Assets Trend (2010–2024)
This chart illustrates how Shui-Mu International Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Shui-Mu International Co Ltd balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Shui-Mu International Co Ltd (2010–2024)
The table below shows the annual net assets of Shui-Mu International Co Ltd from 2010 to 2024. For live valuation and market cap data, see Shui-Mu International Co Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$777.71 Million ≈ $24.50 Million |
-6.51% |
| 2023-12-31 | NT$831.88 Million ≈ $26.21 Million |
+2.08% |
| 2022-12-31 | NT$814.91 Million ≈ $25.67 Million |
-19.97% |
| 2021-12-31 | NT$1.02 Billion ≈ $32.08 Million |
-21.06% |
| 2020-12-31 | NT$1.29 Billion ≈ $40.64 Million |
-13.23% |
| 2019-12-31 | NT$1.49 Billion ≈ $46.83 Million |
-5.20% |
| 2018-12-31 | NT$1.57 Billion ≈ $49.40 Million |
+0.03% |
| 2017-12-31 | NT$1.57 Billion ≈ $49.39 Million |
-3.44% |
| 2016-12-31 | NT$1.62 Billion ≈ $51.14 Million |
-5.08% |
| 2015-12-31 | NT$1.71 Billion ≈ $53.88 Million |
-0.89% |
| 2014-12-31 | NT$1.73 Billion ≈ $54.36 Million |
+14.69% |
| 2013-12-31 | NT$1.50 Billion ≈ $47.40 Million |
-6.93% |
| 2012-12-31 | NT$1.62 Billion ≈ $50.93 Million |
+31.23% |
| 2011-12-31 | NT$1.23 Billion ≈ $38.81 Million |
-0.10% |
| 2010-12-31 | NT$1.23 Billion ≈ $38.85 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shui-Mu International 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 120.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$668.00 Million | 85.91% |
| Other Components | NT$331.29 Million | 42.61% |
| Total Equity | NT$777.58 Million | 100.00% |
Shui-Mu International Co Ltd Competitors by Market Cap
The table below lists competitors of Shui-Mu International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
iBio, Inc. Common Stock
NYSE MKT:IBIO
|
$24.96 Million |
|
Globe Industries Corp
TW:1324
|
$24.97 Million |
|
Israel Op L
TA:ISOP
|
$24.99 Million |
|
Sarawak Consolidated Industries Bhd
KLSE:9237
|
$24.99 Million |
|
Kumbi Corporation
KO:008870
|
$24.93 Million |
|
Adler Group SA
F:ADJ
|
$24.93 Million |
|
Kothari Sugars And Chemicals Limited
NSE:KOTARISUG
|
$24.93 Million |
|
Axe Compute Inc.
NASDAQ:AGPU
|
$24.93 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shui-Mu International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 831,753,000 to 777,582,000, a change of -54,171,000 (-6.5%).
- Net loss of 48,480,000 reduced equity.
- Other comprehensive income decreased equity by 5,691,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-48.48 Million | -6.23% |
| Other Comprehensive Income | NT$-5.69 Million | -0.73% |
| Total Change | NT$- | -6.51% |
Book Value vs Market Value Analysis
This analysis compares Shui-Mu International 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: 1.03x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.55x to 1.03x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | NT$21.72 | NT$11.85 | x |
| 2011-12-31 | NT$21.34 | NT$11.85 | x |
| 2012-12-31 | NT$26.46 | NT$11.85 | x |
| 2013-12-31 | NT$23.61 | NT$11.85 | x |
| 2014-12-31 | NT$27.60 | NT$11.85 | x |
| 2015-12-31 | NT$25.57 | NT$11.85 | x |
| 2016-12-31 | NT$24.30 | NT$11.85 | x |
| 2017-12-31 | NT$23.46 | NT$11.85 | x |
| 2018-12-31 | NT$23.48 | NT$11.85 | x |
| 2019-12-31 | NT$22.27 | NT$11.85 | x |
| 2020-12-31 | NT$19.33 | NT$11.85 | x |
| 2021-12-31 | NT$15.24 | NT$11.85 | x |
| 2022-12-31 | NT$12.20 | NT$11.85 | x |
| 2023-12-31 | NT$12.45 | NT$11.85 | x |
| 2024-12-31 | NT$11.53 | NT$11.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shui-Mu International 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): -6.23%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -4.27%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 2.20x
- Recent ROE (-6.23%) is below the historical average (0.02%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 25.92% | 10.98% | 1.36x | 1.73x | NT$209.31 Million |
| 2011 | 19.23% | 7.47% | 1.32x | 1.95x | NT$119.21 Million |
| 2012 | 12.93% | 5.69% | 1.43x | 1.59x | NT$46.18 Million |
| 2013 | 5.13% | 2.28% | 1.38x | 1.63x | NT$-69.70 Million |
| 2014 | 7.35% | 4.80% | 1.04x | 1.47x | NT$-45.67 Million |
| 2015 | 5.41% | 4.15% | 0.86x | 1.52x | NT$-78.43 Million |
| 2016 | 0.93% | 0.79% | 0.79x | 1.51x | NT$-147.22 Million |
| 2017 | -3.72% | -3.62% | 0.70x | 1.47x | NT$-215.07 Million |
| 2018 | 0.96% | 0.92% | 0.74x | 1.40x | NT$-141.85 Million |
| 2019 | -3.62% | -3.40% | 0.59x | 1.80x | NT$-202.54 Million |
| 2020 | -14.54% | -13.74% | 0.58x | 1.82x | NT$-316.88 Million |
| 2021 | -25.60% | -24.04% | 0.55x | 1.94x | NT$-362.49 Million |
| 2022 | -25.85% | -16.97% | 0.71x | 2.15x | NT$-292.11 Million |
| 2023 | 2.05% | 1.44% | 0.67x | 2.12x | NT$-66.16 Million |
| 2024 | -6.23% | -4.27% | 0.66x | 2.20x | NT$-126.24 Million |
Industry Comparison
This section compares Shui-Mu International Co Ltd's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $28,053,778,143
- Average return on equity (ROE) among peers: 14.46%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shui-Mu International Co Ltd (8443) | NT$688.15 Million | 25.92% | 1.43x | $24.94 Million |
| Victory New Materials Ltd Co (1340) | $6.59 Billion | 12.68% | 0.06x | $27.80 Million |
| Hsinli Chemical Industrial (4303) | $2.17 Billion | 37.61% | 0.52x | $160.65 Million |
| Sports Gear Co. Ltd (6768) | $10.96 Billion | 12.86% | 0.45x | $492.35 Million |
| Paiho Shih Holdings Corp (8404) | $4.53 Billion | 8.31% | 0.45x | $222.27 Million |
| Fulgent Sun International Holding Co Ltd (9802) | $9.04 Billion | 13.11% | 0.95x | $490.76 Million |
| Pou Chen Corp (9904) | $152.20 Billion | 7.04% | 1.00x | $2.39 Billion |
| Feng Tay Enterprises Co Ltd (9910) | $10.89 Billion | 9.60% | 0.31x | $2.18 Billion |
About Shui-Mu International Co Ltd
SHUI-MU International Co., Ltd. engages in the manufacture and retail of shoes and bags in Taiwan. The company sells socks, leather products. It also offers repair services. It operates approximately 107 stores. SHUI-MU International Co., Ltd. was founded in 1941 and is based in Taipei, Taiwan.