Tidehold Development Co Ltd (9902) - Net Assets
Based on the latest financial reports, Tidehold Development Co Ltd (9902) has net assets worth NT$1.20 Billion TWD (≈ $37.91 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$1.29 Billion ≈ $40.65 Million USD) and total liabilities (NT$86.81 Million ≈ $2.74 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. Explore cash flow conversion of Tidehold Development Co Ltd to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.20 Billion |
| % of Total Assets | 93.27% |
| Annual Growth Rate | 0.8% |
| 5-Year Change | -8.7% |
| 10-Year Change | 4.19% |
| Growth Volatility | 12.48 |
Tidehold Development Co Ltd - Net Assets Trend (2002–2025)
This chart illustrates how Tidehold Development Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore Tidehold Development Co Ltd (9902) investment intensity to see how much of total assets are deployed in long-term investments.
Annual Net Assets for Tidehold Development Co Ltd (2002–2025)
The table below shows the annual net assets of Tidehold Development Co Ltd from 2002 to 2025. For live valuation and market cap data, see 9902 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.20 Billion ≈ $37.91 Million |
-5.98% |
| 2024-12-31 | NT$1.28 Billion ≈ $40.32 Million |
+2.28% |
| 2023-12-31 | NT$1.25 Billion ≈ $39.43 Million |
+2.58% |
| 2022-12-31 | NT$1.22 Billion ≈ $38.44 Million |
-7.43% |
| 2021-12-31 | NT$1.32 Billion ≈ $41.52 Million |
+6.78% |
| 2020-12-31 | NT$1.23 Billion ≈ $38.89 Million |
-0.54% |
| 2019-12-31 | NT$1.24 Billion ≈ $39.10 Million |
+0.16% |
| 2018-12-31 | NT$1.24 Billion ≈ $39.04 Million |
+6.81% |
| 2017-12-31 | NT$1.16 Billion ≈ $36.55 Million |
+0.45% |
| 2016-12-31 | NT$1.15 Billion ≈ $36.38 Million |
-2.88% |
| 2015-12-31 | NT$1.19 Billion ≈ $37.46 Million |
+0.67% |
| 2014-12-31 | NT$1.18 Billion ≈ $37.21 Million |
+1.38% |
| 2013-12-31 | NT$1.17 Billion ≈ $36.70 Million |
+16.38% |
| 2012-12-31 | NT$1.00 Billion ≈ $31.54 Million |
+2.05% |
| 2011-12-31 | NT$980.98 Million ≈ $30.91 Million |
-3.54% |
| 2010-12-31 | NT$1.02 Billion ≈ $32.04 Million |
+23.31% |
| 2009-12-31 | NT$824.77 Million ≈ $25.98 Million |
+1.17% |
| 2008-12-31 | NT$815.21 Million ≈ $25.68 Million |
-20.42% |
| 2007-12-31 | NT$1.02 Billion ≈ $32.27 Million |
-7.96% |
| 2006-12-31 | NT$1.11 Billion ≈ $35.06 Million |
-3.08% |
| 2005-12-31 | NT$1.15 Billion ≈ $36.18 Million |
+43.38% |
| 2004-12-31 | NT$800.87 Million ≈ $25.23 Million |
-11.60% |
| 2003-12-31 | NT$905.95 Million ≈ $28.54 Million |
-9.52% |
| 2002-12-31 | NT$1.00 Billion ≈ $31.55 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tidehold Development 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 3994101100.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$39.94 Million | 3.33% |
| Common Stock | NT$980.50 Million | 81.66% |
| Other Comprehensive Income | NT$135.79 Million | 11.31% |
| Other Components | NT$44.42 Million | 3.70% |
| Total Equity | NT$1.20 Billion | 100.00% |
Tidehold Development Co Ltd Competitors by Market Cap
The table below lists competitors of Tidehold Development Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Webstep ASA
OL:WSTEP
|
$42.32 Million |
|
Emami Realty Limited
NSE:EMAMIREAL
|
$42.33 Million |
|
Hojeon Ltd
KO:111110
|
$42.33 Million |
|
3U Holding AG
XETRA:UUU
|
$42.34 Million |
|
Information and Communication Networks Public Company Limited
BK:ICN
|
$42.32 Million |
|
Quality & Reliability A.B.E.E
AT:QUAL
|
$42.31 Million |
|
Sinil Pharmaceutical Co. Ltd
KQ:012790
|
$42.30 Million |
|
Danen Technology Corp
TW:3686
|
$42.30 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tidehold Development Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,275,638,000 to 1,200,643,000, a change of -74,995,000 (-5.9%).
- Net loss of 46,012,000 reduced equity.
- Dividend payments of 29,414,000 reduced retained earnings.
- Other comprehensive income increased equity by 3,691,989.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-46.01 Million | -3.83% |
| Dividends Paid | NT$29.41 Million | -2.45% |
| Other Comprehensive Income | NT$3.69 Million | +0.31% |
| Other Changes | NT$-3.26 Million | -0.27% |
| Total Change | NT$- | -5.88% |
Book Value vs Market Value Analysis
This analysis compares Tidehold Development 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: 1.12x
- 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 1.64x to 1.12x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | NT$8.36 | NT$13.70 | x |
| 2005-12-31 | NT$6.85 | NT$13.70 | x |
| 2006-12-31 | NT$6.35 | NT$13.70 | x |
| 2007-12-31 | NT$8.68 | NT$13.70 | x |
| 2008-12-31 | NT$8.45 | NT$13.70 | x |
| 2009-12-31 | NT$8.56 | NT$13.70 | x |
| 2010-12-31 | NT$10.57 | NT$13.70 | x |
| 2011-12-31 | NT$10.01 | NT$13.70 | x |
| 2012-12-31 | NT$10.25 | NT$13.70 | x |
| 2013-12-31 | NT$11.84 | NT$13.70 | x |
| 2014-12-31 | NT$12.01 | NT$13.70 | x |
| 2015-12-31 | NT$12.09 | NT$13.70 | x |
| 2016-12-31 | NT$11.74 | NT$13.70 | x |
| 2017-12-31 | NT$11.80 | NT$13.70 | x |
| 2018-12-31 | NT$12.60 | NT$13.70 | x |
| 2019-12-31 | NT$12.61 | NT$13.70 | x |
| 2020-12-31 | NT$12.54 | NT$13.70 | x |
| 2021-12-31 | NT$13.37 | NT$13.70 | x |
| 2022-12-31 | NT$12.41 | NT$13.70 | x |
| 2023-12-31 | NT$12.72 | NT$13.70 | x |
| 2024-12-31 | NT$13.00 | NT$13.70 | x |
| 2025-12-31 | NT$12.26 | NT$13.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tidehold Development Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.83%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -12.16%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.07x
- Recent ROE (-3.83%) is below the historical average (-1.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | -12.77% | -53.90% | 0.09x | 2.69x | NT$-182.37 Million |
| 2005 | -16.64% | -70.38% | 0.06x | 3.90x | NT$-174.71 Million |
| 2006 | -12.17% | -182.13% | 0.02x | 3.95x | NT$-134.88 Million |
| 2007 | -22.53% | -79.27% | 0.13x | 2.26x | NT$-270.35 Million |
| 2008 | -4.23% | -123.95% | 0.02x | 1.86x | NT$-115.22 Million |
| 2009 | -4.31% | -206.08% | 0.01x | 1.91x | NT$-117.34 Million |
| 2010 | 11.71% | 22.23% | 0.42x | 1.25x | NT$17.37 Million |
| 2011 | -1.18% | -7.03% | 0.13x | 1.26x | NT$-109.53 Million |
| 2012 | 0.45% | 3.25% | 0.12x | 1.18x | NT$-95.39 Million |
| 2013 | 13.32% | 92.95% | 0.13x | 1.09x | NT$38.54 Million |
| 2014 | 1.07% | 8.21% | 0.12x | 1.11x | NT$-105.20 Million |
| 2015 | 0.95% | 10.78% | 0.08x | 1.09x | NT$-107.32 Million |
| 2016 | 0.36% | 4.96% | 0.07x | 1.08x | NT$-111.02 Million |
| 2017 | 0.11% | 1.94% | 0.05x | 1.07x | NT$-114.31 Million |
| 2018 | 0.97% | 8.65% | 0.11x | 1.05x | NT$-111.57 Million |
| 2019 | 2.56% | 11.98% | 0.19x | 1.12x | NT$-92.10 Million |
| 2020 | 2.62% | 7.47% | 0.32x | 1.11x | NT$-90.76 Million |
| 2021 | 8.59% | 26.61% | 0.30x | 1.06x | NT$-18.49 Million |
| 2022 | -4.01% | -28.44% | 0.13x | 1.09x | NT$-170.42 Million |
| 2023 | 2.51% | 10.74% | 0.21x | 1.10x | NT$-93.40 Million |
| 2024 | 4.46% | 23.50% | 0.17x | 1.10x | NT$-70.70 Million |
| 2025 | -3.83% | -12.16% | 0.29x | 1.07x | NT$-166.08 Million |
Industry Comparison
This section compares Tidehold Development Co Ltd's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $3,713,726,000
- Average return on equity (ROE) among peers: -13.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tidehold Development Co Ltd (9902) | NT$1.20 Billion | -12.77% | 0.07x | $42.32 Million |
| Sun Yad Construction Co Ltd (1316) | $960.01 Million | 0.00% | 0.15x | $114.26 Million |
| GTM Holdings Corp (1437) | $3.58 Billion | -3.54% | 1.47x | $179.67 Million |
| I-Hwa Industrial Co Ltd (1456) | $182.82 Million | -137.79% | 11.74x | $38.53 Million |
| Hiyes International Co Ltd (2348) | $1.46 Billion | 31.72% | 0.66x | $324.59 Million |
| Chainqui Construction Development Co Ltd (2509) | $4.59 Billion | -3.25% | 0.83x | $87.02 Million |
| Hung Ching Development & Construction Co Ltd (2527) | $8.06 Billion | 8.71% | 1.09x | $298.95 Million |
| Crowell Development Corp (2528) | $2.95 Billion | -3.19% | 1.98x | $298.10 Million |
| JSL Construction & Development Co Ltd (2540) | $58.94 Million | -31.27% | 3.42x | $1.59 Billion |
| Wanhwa Enterprise Co (2701) | $7.53 Billion | 2.31% | 0.17x | $144.60 Million |
| First Hotel Co Ltd (2706) | $7.77 Billion | 5.90% | 0.15x | $188.24 Million |
About Tidehold Development Co Ltd
Tidehold Development Co., Ltd. engages in the international trading business primarily in Taiwan. The company is also involved in the development, leasing, and sale of residential and buildings; and general investment and leasing businesses. In addition, it offers electric and fuel-powered garbage truck services; and sells imported vehicles, environmental sanitation and cleaning vehicles, and con… Read more