Forest Water Environmental Eng Co Ltd (8473) - Net Assets

Latest as of September 2025: NT$8.06 Billion TWD ≈ $254.04 Million USD

Based on the latest financial reports, Forest Water Environmental Eng Co Ltd (8473) has net assets worth NT$8.06 Billion TWD (≈ $254.04 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$16.16 Billion ≈ $509.27 Million USD) and total liabilities (NT$8.10 Billion ≈ $255.24 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. Check Forest Water Environmental Eng Co Ltd (8473) liquid assets ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	NT$8.06 Billion
% of Total Assets	49.88%
Annual Growth Rate	5.42%
5-Year Change	8.53%
10-Year Change	41.38%
Growth Volatility	5.61

Forest Water Environmental Eng Co Ltd - Net Assets Trend (2012–2024)

This chart illustrates how Forest Water Environmental Eng Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 8473 total assets for the complete picture of this company's asset base.

Annual Net Assets for Forest Water Environmental Eng Co Ltd (2012–2024)

The table below shows the annual net assets of Forest Water Environmental Eng Co Ltd from 2012 to 2024. For live valuation and market cap data, see Forest Water Environmental Eng Co Ltd (8473) total market value.

Year	Net Assets	Change
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	--

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 87.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	NT$167.33 Million	2.55%
Common Stock	NT$1.81 Billion	27.56%
Other Comprehensive Income	NT$-58.16 Million	-0.89%
Other Components	NT$4.64 Billion	70.78%
Total Equity	NT$6.56 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
Latécoère S.A. PA:LAT	$197.19 Million
Sanurhasta Mitra PT JK:MINA	$197.27 Million
Columbus A/S CO:COLUM	$197.28 Million
Samara Asset Group F:SRAG	$197.29 Million
ST.GEORGE MINING LTD F:S0G	$197.09 Million
Matba Rofex SA BA:MTR	$197.01 Million
Willow Lane Acquisition Corp. Class A Ordinary Shares NASDAQ:WLAC	$196.98 Million
Canyon Resources Ltd AU:CAY	$196.98 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 2023 to 2024, total equity changed from 5,786,567,000 to 6,561,947,000, a change of 775,380,000 (13.4%).
Net income of 167,187,000 contributed positively to equity growth.
Dividend payments of 261,327,000 reduced retained earnings.
Other comprehensive income decreased equity by 405,243,999.
Other factors increased equity by 1,274,763,999.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	NT$167.19 Million	+2.55%
Dividends Paid	NT$261.33 Million	-3.98%
Other Comprehensive Income	NT$-405.24 Million	-6.18%
Other Changes	NT$1.27 Billion	+19.43%
Total Change	NT$-	13.40%

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: 0.99x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 1.23x to 0.99x 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$34.60	x
2013-12-31	NT$37.83	NT$34.60	x
2014-12-31	NT$39.22	NT$34.60	x
2015-12-31	NT$38.69	NT$34.60	x
2016-12-31	NT$41.82	NT$34.60	x
2017-12-31	NT$38.99	NT$34.60	x
2018-12-31	NT$39.73	NT$34.60	x
2019-12-31	NT$36.76	NT$34.60	x
2020-12-31	NT$36.79	NT$34.60	x
2021-12-31	NT$35.52	NT$34.60	x
2022-12-31	NT$36.75	NT$34.60	x
2023-12-31	NT$33.48	NT$34.60	x
2024-12-31	NT$34.89	NT$34.60	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): 2.55%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 4.94%
• Asset Turnover: 0.22x
• Equity Multiplier: 2.39x
Recent ROE (2.55%) is below the historical average (4.56%), 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	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

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: $3,125,963,000
Average return on equity (ROE) among peers: 11.05%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Forest Water Environmental Eng Co Ltd (8473)	NT$8.06 Billion	1.86%	1.00x	$197.14 Million
Taiwan Steel Union Co Ltd (6581)	$4.11 Billion	12.27%	0.11x	$385.62 Million
ECOVE Environment Corp (6803)	$1.51 Billion	22.43%	1.51x	$662.65 Million
Sunny Friend Environmental Technology Co Ltd (8341)	$1.19 Billion	7.51%	1.16x	$310.46 Million
Jiin Yeeh Ding Enterprise Co Ltd (8390)	$1.81 Billion	0.62%	0.54x	$284.95 Million
Cleanaway Co Ltd (8422)	$9.52 Billion	15.33%	1.34x	$999.25 Million
E&E Recycling (8440)	$616.58 Million	8.12%	0.26x	$31.98 Million

About Forest Water Environmental Eng Co Ltd

TW:8473 Taiwan Waste Management

Market Cap

$197.14 Million

NT$6.26 Billion TWD

Market Cap Rank

#16624 Global

#815 in Taiwan

Share Price

NT$34.60

Change (1 day)

-2.26%

52-Week Range

NT$30.90 - NT$42.65

All Time High

NT$71.59