Forest Water Environmental Eng Co Ltd (8473) - Net Assets
Based on the latest financial reports, Forest Water Environmental Eng Co Ltd (8473) has net assets worth NT$8.46 Billion TWD (≈ $266.49 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$16.78 Billion ≈ $528.73 Million USD) and total liabilities (NT$8.32 Billion ≈ $262.24 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 how large is Forest Water Environmental Eng Co Ltd's balance sheet for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$8.46 Billion |
| % of Total Assets | 50.4% |
| Annual Growth Rate | 5.37% |
| 5-Year Change | 11.53% |
| 10-Year Change | 28.64% |
| Growth Volatility | 5.39 |
Forest Water Environmental Eng Co Ltd - Net Assets Trend (2012–2025)
This chart illustrates how Forest Water Environmental Eng Co Ltd's net assets have evolved over time, based on quarterly financial data. Check Forest Water Environmental Eng Co Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Forest Water Environmental Eng Co Ltd (2012–2025)
The table below shows the annual net assets of Forest Water Environmental Eng Co Ltd from 2012 to 2025. For live valuation and market cap data, see market cap of Forest Water Environmental Eng Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$8.21 Billion ≈ $258.63 Million |
+4.80% |
| 2024-12-31 | NT$7.83 Billion ≈ $246.78 Million |
+5.02% |
| 2023-12-31 | NT$7.46 Billion ≈ $234.98 Million |
+7.42% |
| 2022-12-31 | NT$6.94 Billion ≈ $218.74 Million |
-5.67% |
| 2021-12-31 | NT$7.36 Billion ≈ $231.90 Million |
+1.99% |
| 2020-12-31 | NT$7.22 Billion ≈ $227.38 Million |
+0.92% |
| 2019-12-31 | NT$7.15 Billion ≈ $225.31 Million |
+3.12% |
| 2018-12-31 | NT$6.94 Billion ≈ $218.49 Million |
+3.29% |
| 2017-12-31 | NT$6.71 Billion ≈ $211.53 Million |
+5.21% |
| 2016-12-31 | NT$6.38 Billion ≈ $201.05 Million |
+15.18% |
| 2015-12-31 | NT$5.54 Billion ≈ $174.55 Million |
+4.87% |
| 2014-12-31 | NT$5.28 Billion ≈ $166.44 Million |
+10.87% |
| 2013-12-31 | NT$4.77 Billion ≈ $150.13 Million |
+14.56% |
| 2012-12-31 | NT$4.16 Billion ≈ $131.04 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Forest Water Environmental Eng 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 grown by 2915.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.69 Billion | 39.48% |
| Common Stock | NT$1.81 Billion | 26.53% |
| Other Comprehensive Income | NT$103.72 Million | 1.52% |
| Other Components | NT$2.22 Billion | 32.47% |
| Total Equity | NT$6.83 Billion | 100.00% |
Forest Water Environmental Eng Co Ltd Competitors by Market Cap
The table below lists competitors of Forest Water Environmental Eng Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dasheng Times Cultural Investment Co Ltd
SHG:600892
|
$252.15 Million |
|
Allspring Multi Sector Income Fund
NYSE MKT:ERC
|
$252.20 Million |
|
Young Fast Optoelectronics Co Ltd
TW:3622
|
$252.21 Million |
|
Guangzhou Jointas Chemical Joint Stock Co Ltd
SHE:002909
|
$252.25 Million |
|
Dongnan Electronics Co. Ltd. A
SHE:301359
|
$252.00 Million |
|
Bank Ochrony Środowiska SA
WAR:BOS
|
$251.87 Million |
|
Canada Nickel Company Inc
V:CNC
|
$251.78 Million |
|
Cabio Biotech Wuhan Co Ltd
SHG:688089
|
$251.71 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Forest Water Environmental Eng Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 6,561,947,000 to 6,825,674,000, a change of 263,727,000 (4.0%).
- Net income of 461,879,000 contributed positively to equity growth.
- Dividend payments of 269,560,000 reduced retained earnings.
- Other comprehensive income increased equity by 161,889,999.
- Other factors decreased equity by 90,481,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$461.88 Million | +6.77% |
| Dividends Paid | NT$269.56 Million | -3.95% |
| Other Comprehensive Income | NT$161.89 Million | +2.37% |
| Other Changes | NT$-90.48 Million | -1.33% |
| Total Change | NT$- | 4.02% |
Book Value vs Market Value Analysis
This analysis compares Forest Water Environmental Eng 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: 1.45x
- 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 1.57x to 1.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | NT$28.07 | NT$44.20 | x |
| 2013-12-31 | NT$37.83 | NT$44.20 | x |
| 2014-12-31 | NT$39.22 | NT$44.20 | x |
| 2015-12-31 | NT$38.69 | NT$44.20 | x |
| 2016-12-31 | NT$41.82 | NT$44.20 | x |
| 2017-12-31 | NT$38.99 | NT$44.20 | x |
| 2018-12-31 | NT$39.73 | NT$44.20 | x |
| 2019-12-31 | NT$36.76 | NT$44.20 | x |
| 2020-12-31 | NT$36.79 | NT$44.20 | x |
| 2021-12-31 | NT$35.52 | NT$44.20 | x |
| 2022-12-31 | NT$36.75 | NT$44.20 | x |
| 2023-12-31 | NT$33.48 | NT$44.20 | x |
| 2024-12-31 | NT$34.89 | NT$44.20 | x |
| 2025-12-31 | NT$30.53 | NT$44.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Forest Water Environmental Eng Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.77%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.01%
- • Asset Turnover: 0.31x
- • Equity Multiplier: 2.45x
- Recent ROE (6.77%) is above the historical average (4.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 1.86% | 7.86% | 0.09x | 2.52x | NT$-274.39 Million |
| 2013 | 2.72% | 7.16% | 0.17x | 2.18x | NT$-285.13 Million |
| 2014 | 6.74% | 19.99% | 0.16x | 2.07x | NT$-145.15 Million |
| 2015 | 7.31% | 22.08% | 0.17x | 2.00x | NT$-126.66 Million |
| 2016 | 8.81% | 21.52% | 0.22x | 1.83x | NT$-66.15 Million |
| 2017 | 7.45% | 14.98% | 0.24x | 2.10x | NT$-140.92 Million |
| 2018 | 6.52% | 8.09% | 0.34x | 2.39x | NT$-195.61 Million |
| 2019 | 7.28% | 9.29% | 0.31x | 2.54x | NT$-154.52 Million |
| 2020 | 4.67% | 5.90% | 0.28x | 2.82x | NT$-301.59 Million |
| 2021 | 5.90% | 8.52% | 0.25x | 2.73x | NT$-235.00 Million |
| 2022 | -3.19% | -4.31% | 0.26x | 2.90x | NT$-698.97 Million |
| 2023 | 0.69% | 1.08% | 0.24x | 2.67x | NT$-538.91 Million |
| 2024 | 2.55% | 4.94% | 0.22x | 2.39x | NT$-489.01 Million |
| 2025 | 6.77% | 9.01% | 0.31x | 2.45x | NT$-220.69 Million |
Industry Comparison
This section compares Forest Water Environmental Eng Co Ltd's net assets metrics with peer companies in the Waste Management industry.
Industry Context
- Industry: Waste Management
- Average net assets among peers: $4,235,686,667
- Average return on equity (ROE) among peers: 16.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Forest Water Environmental Eng Co Ltd (8473) | NT$8.46 Billion | 1.86% | 0.98x | $252.13 Million |
| Taiwan Steel Union Co Ltd (6581) | $3.59 Billion | 21.86% | 0.28x | $375.10 Million |
| ECOVE Environment Corp (6803) | $7.40 Billion | 16.98% | 0.81x | $621.45 Million |
| Sunny Friend Environmental Technology Co Ltd (8341) | $5.81 Billion | 10.04% | 0.73x | $313.73 Million |
| Jiin Yeeh Ding Enterprise Co Ltd (8390) | $3.74 Billion | 16.96% | 0.20x | $288.59 Million |
| Cleanaway Co Ltd (8422) | $4.24 Billion | 31.04% | 0.09x | $945.52 Million |
| E&E Recycling (8440) | $635.02 Million | 3.69% | 0.21x | $31.82 Million |
About Forest Water Environmental Eng Co Ltd
Forest Water Environmental Engineering Co., Ltd., together with its subsidiaries, engages in environmental engineering business in Taiwan. It is involved in environmental protection engineering construction; wastewater treatment; waste disposal and resource recycling; and composting and recycling of kitchen waste. The company also designs, builds, and operates municipal and industrial water syste… Read more