Alexander Marine Co Ltd (8478) - Net Assets
Based on the latest financial reports, Alexander Marine Co Ltd (8478) has net assets worth NT$8.55 Billion TWD (≈ $269.48 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$15.41 Billion ≈ $485.58 Million USD) and total liabilities (NT$6.86 Billion ≈ $216.10 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 how tangible is Alexander Marine Co Ltd's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$8.55 Billion |
| % of Total Assets | 55.5% |
| Annual Growth Rate | 25.79% |
| 5-Year Change | 244.49% |
| 10-Year Change | 569.34% |
| Growth Volatility | 30.85 |
Alexander Marine Co Ltd - Net Assets Trend (2012–2024)
This chart illustrates how Alexander Marine Co Ltd's net assets have evolved over time, based on quarterly financial data. See 8478 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Alexander Marine Co Ltd (2012–2024)
The table below shows the annual net assets of Alexander Marine Co Ltd from 2012 to 2024. For live valuation and market cap data, see market value of Alexander Marine Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$8.58 Billion ≈ $270.42 Million |
+46.67% |
| 2023-12-31 | NT$5.85 Billion ≈ $184.37 Million |
+25.02% |
| 2022-12-31 | NT$4.68 Billion ≈ $147.47 Million |
+54.62% |
| 2021-12-31 | NT$3.03 Billion ≈ $95.38 Million |
+21.50% |
| 2020-12-31 | NT$2.49 Billion ≈ $78.50 Million |
-4.09% |
| 2019-12-31 | NT$2.60 Billion ≈ $81.85 Million |
-7.29% |
| 2018-12-31 | NT$2.80 Billion ≈ $88.29 Million |
+1.06% |
| 2017-12-31 | NT$2.77 Billion ≈ $87.37 Million |
+59.11% |
| 2016-12-31 | NT$1.74 Billion ≈ $54.91 Million |
+35.91% |
| 2015-12-31 | NT$1.28 Billion ≈ $40.40 Million |
+101.56% |
| 2014-12-31 | NT$636.20 Million ≈ $20.04 Million |
+14.89% |
| 2013-12-31 | NT$553.77 Million ≈ $17.45 Million |
+1.23% |
| 2012-12-31 | NT$547.04 Million ≈ $17.23 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Alexander Marine 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 21559.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$3.18 Billion | 37.10% |
| Common Stock | NT$948.86 Million | 11.05% |
| Other Comprehensive Income | NT$1.54 Billion | 17.95% |
| Other Components | NT$2.91 Billion | 33.89% |
| Total Equity | NT$8.58 Billion | 100.00% |
Alexander Marine Co Ltd Competitors by Market Cap
The table below lists competitors of Alexander Marine Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tieling Newcity Investment Holding Ltd
SHE:000809
|
$450.18 Million |
|
Beijing InHand Networks Technology Co Ltd
SHG:688080
|
$450.21 Million |
|
SUNSEA Telecommunications Co Ltd
SHE:002313
|
$450.34 Million |
|
Blockchain Group SA
PA:ALTBG
|
$450.46 Million |
|
PSK HOLDINGS Inc
KQ:031980
|
$449.90 Million |
|
TWC Enterprises Ltd
TO:TWC
|
$449.87 Million |
|
Viromed Medical AG
DU:Q11
|
$449.86 Million |
|
Huchems
KO:069260
|
$449.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Alexander Marine Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,851,988,000 to 8,583,230,000, a change of 2,731,242,000 (46.7%).
- Net income of 938,073,000 contributed positively to equity growth.
- Dividend payments of 1,055,667,000 reduced retained earnings.
- New share issuances of 2,010,000,000 increased equity.
- Other comprehensive income increased equity by 1,025,910,000.
- Other factors decreased equity by 187,074,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$938.07 Million | +10.93% |
| Dividends Paid | NT$1.06 Billion | -12.3% |
| Share Issuances | NT$2.01 Billion | +23.42% |
| Other Comprehensive Income | NT$1.03 Billion | +11.95% |
| Other Changes | NT$-187.07 Million | -2.18% |
| Total Change | NT$- | 46.67% |
Book Value vs Market Value Analysis
This analysis compares Alexander Marine 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: 1.64x
- 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 22.45x to 1.64x 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$6.77 | NT$152.00 | x |
| 2013-12-31 | NT$6.85 | NT$152.00 | x |
| 2014-12-31 | NT$7.87 | NT$152.00 | x |
| 2015-12-31 | NT$15.30 | NT$152.00 | x |
| 2016-12-31 | NT$20.76 | NT$152.00 | x |
| 2017-12-31 | NT$32.67 | NT$152.00 | x |
| 2018-12-31 | NT$29.85 | NT$152.00 | x |
| 2019-12-31 | NT$27.94 | NT$152.00 | x |
| 2020-12-31 | NT$27.44 | NT$152.00 | x |
| 2021-12-31 | NT$33.76 | NT$152.00 | x |
| 2022-12-31 | NT$53.15 | NT$152.00 | x |
| 2023-12-31 | NT$66.46 | NT$152.00 | x |
| 2024-12-31 | NT$92.83 | NT$152.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Alexander Marine Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.93%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.98%
- • Asset Turnover: 0.34x
- • Equity Multiplier: 1.69x
- Recent ROE (10.93%) is below the historical average (16.14%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 1.28% | 1.50% | 0.37x | 2.27x | NT$-47.71 Million |
| 2013 | 6.23% | 7.25% | 0.46x | 1.86x | NT$-20.90 Million |
| 2014 | 8.84% | 8.85% | 0.39x | 2.56x | NT$-7.40 Million |
| 2015 | 21.99% | 17.40% | 0.68x | 1.87x | NT$153.72 Million |
| 2016 | 31.11% | 19.55% | 0.72x | 2.20x | NT$367.89 Million |
| 2017 | 9.88% | 7.56% | 0.81x | 1.62x | NT$-3.31 Million |
| 2018 | 12.80% | 9.06% | 0.67x | 2.10x | NT$78.52 Million |
| 2019 | 1.78% | 1.25% | 0.59x | 2.41x | NT$-213.68 Million |
| 2020 | 3.79% | 2.24% | 0.62x | 2.73x | NT$-154.71 Million |
| 2021 | 28.23% | 18.77% | 0.66x | 2.27x | NT$551.96 Million |
| 2022 | 37.46% | 31.56% | 0.61x | 1.93x | NT$1.29 Billion |
| 2023 | 35.57% | 32.91% | 0.58x | 1.87x | NT$1.50 Billion |
| 2024 | 10.93% | 18.98% | 0.34x | 1.69x | NT$79.75 Million |
Industry Comparison
This section compares Alexander Marine Co Ltd's net assets metrics with peer companies in the Recreational Vehicles industry.
Industry Context
- Industry: Recreational Vehicles
- Average net assets among peers: $767,412,000
- Average return on equity (ROE) among peers: 6.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Alexander Marine Co Ltd (8478) | NT$8.55 Billion | 1.28% | 0.80x | $450.02 Million |
| Her Chee Industrial Co Ltd (8937) | $767.41 Million | 6.75% | 0.85x | $98.77 Million |
About Alexander Marine Co Ltd
Alexander Marine Co., Ltd. engages in the manufacture and sale of yachts in Taiwan, the United States, and Australia. It is also involved in the lease of real estate; sale of yacht repair parts; and provision of aftersales services. The company was incorporated in 1978 and is headquartered in Kaohsiung, Taiwan.