Great Taipei Gas Corp (9908) - Net Assets
Based on the latest financial reports, Great Taipei Gas Corp (9908) has net assets worth NT$15.12 Billion TWD (≈ $476.39 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$20.76 Billion ≈ $654.09 Million USD) and total liabilities (NT$5.64 Billion ≈ $177.70 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 9908 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$15.12 Billion |
| % of Total Assets | 72.83% |
| Annual Growth Rate | 4.03% |
| 5-Year Change | 19.61% |
| 10-Year Change | 39.94% |
| Growth Volatility | 5.63 |
Great Taipei Gas Corp - Net Assets Trend (2002–2024)
This chart illustrates how Great Taipei Gas Corp's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Great Taipei Gas Corp for the complete picture of this company's asset base.
Annual Net Assets for Great Taipei Gas Corp (2002–2024)
The table below shows the annual net assets of Great Taipei Gas Corp from 2002 to 2024. For live valuation and market cap data, see Great Taipei Gas Corp (9908) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$15.06 Billion ≈ $474.52 Million |
+2.51% |
| 2023-12-31 | NT$14.69 Billion ≈ $462.90 Million |
+8.27% |
| 2022-12-31 | NT$13.57 Billion ≈ $427.55 Million |
+1.65% |
| 2021-12-31 | NT$13.35 Billion ≈ $420.62 Million |
+6.02% |
| 2020-12-31 | NT$12.59 Billion ≈ $396.73 Million |
+4.28% |
| 2019-12-31 | NT$12.08 Billion ≈ $380.44 Million |
+1.48% |
| 2018-12-31 | NT$11.90 Billion ≈ $374.91 Million |
+2.53% |
| 2017-12-31 | NT$11.61 Billion ≈ $365.67 Million |
+2.89% |
| 2016-12-31 | NT$11.28 Billion ≈ $355.40 Million |
+4.81% |
| 2015-12-31 | NT$10.76 Billion ≈ $339.10 Million |
+1.26% |
| 2014-12-31 | NT$10.63 Billion ≈ $334.89 Million |
+2.34% |
| 2013-12-31 | NT$10.39 Billion ≈ $327.24 Million |
+10.89% |
| 2012-12-31 | NT$9.37 Billion ≈ $295.11 Million |
+2.24% |
| 2011-12-31 | NT$9.16 Billion ≈ $288.63 Million |
-0.72% |
| 2010-12-31 | NT$9.23 Billion ≈ $290.72 Million |
+5.40% |
| 2009-12-31 | NT$8.76 Billion ≈ $275.83 Million |
+4.59% |
| 2008-12-31 | NT$8.37 Billion ≈ $263.72 Million |
-2.98% |
| 2007-12-31 | NT$8.63 Billion ≈ $271.83 Million |
-1.50% |
| 2006-12-31 | NT$8.76 Billion ≈ $275.96 Million |
+5.36% |
| 2005-12-31 | NT$8.31 Billion ≈ $261.93 Million |
+25.97% |
| 2004-12-31 | NT$6.60 Billion ≈ $207.93 Million |
+3.00% |
| 2003-12-31 | NT$6.41 Billion ≈ $201.86 Million |
+1.48% |
| 2002-12-31 | NT$6.31 Billion ≈ $198.91 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Great Taipei Gas Corp'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 845.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.60 Billion | 19.02% |
| Common Stock | NT$5.16 Billion | 37.83% |
| Other Comprehensive Income | NT$5.79 Billion | 42.41% |
| Other Components | NT$101.74 Million | 0.75% |
| Total Equity | NT$13.65 Billion | 100.00% |
Great Taipei Gas Corp Competitors by Market Cap
The table below lists competitors of Great Taipei Gas Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beijing Fjr Optoelectronic Technology Co Ltd
SHG:688272
|
$467.09 Million |
|
Allianz Ayudhya Capital Public Company Limited
BK:AYUD
|
$467.13 Million |
|
ThredUp Inc
NASDAQ:TDUP
|
$467.14 Million |
|
Qingdao Richmat Intelligence Technology Co. Ltd. A
SHE:301320
|
$467.16 Million |
|
Chengdu Rainbow Appliance Gr
SHE:003023
|
$467.07 Million |
|
GUOMAI Culture & Media Co. Ltd.
SHE:301052
|
$466.86 Million |
|
YungShin Global Holding Corp
TW:3705
|
$466.59 Million |
|
Southern First Bancshares Inc
NASDAQ:SFST
|
$466.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Great Taipei Gas Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 13,336,824,000 to 13,649,528,000, a change of 312,704,000 (2.3%).
- Net income of 856,379,000 contributed positively to equity growth.
- Dividend payments of 612,028,000 reduced retained earnings.
- Other comprehensive income increased equity by 3,224,319,999.
- Other factors decreased equity by 3,155,966,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$856.38 Million | +6.27% |
| Dividends Paid | NT$612.03 Million | -4.48% |
| Other Comprehensive Income | NT$3.22 Billion | +23.62% |
| Other Changes | NT$-3.16 Billion | -23.12% |
| Total Change | NT$- | 2.34% |
Book Value vs Market Value Analysis
This analysis compares Great Taipei Gas Corp'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: 1.09x
- 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 1.92x to 1.09x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | NT$15.45 | NT$29.60 | x |
| 2007-12-31 | NT$15.25 | NT$29.60 | x |
| 2008-12-31 | NT$14.87 | NT$29.60 | x |
| 2009-12-31 | NT$15.63 | NT$29.60 | x |
| 2010-12-31 | NT$16.83 | NT$29.60 | x |
| 2011-12-31 | NT$16.65 | NT$29.60 | x |
| 2012-12-31 | NT$17.02 | NT$29.60 | x |
| 2013-12-31 | NT$18.96 | NT$29.60 | x |
| 2014-12-31 | NT$19.36 | NT$29.60 | x |
| 2015-12-31 | NT$19.57 | NT$29.60 | x |
| 2016-12-31 | NT$17.12 | NT$29.60 | x |
| 2017-12-31 | NT$21.16 | NT$29.60 | x |
| 2018-12-31 | NT$21.30 | NT$29.60 | x |
| 2019-12-31 | NT$21.77 | NT$29.60 | x |
| 2020-12-31 | NT$22.69 | NT$29.60 | x |
| 2021-12-31 | NT$24.09 | NT$29.60 | x |
| 2022-12-31 | NT$24.46 | NT$29.60 | x |
| 2023-12-31 | NT$26.58 | NT$29.60 | x |
| 2024-12-31 | NT$27.21 | NT$29.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Great Taipei Gas Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.27%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.81%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.51x
- Recent ROE (6.27%) is below the historical average (6.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 4.21% | 10.38% | 0.24x | 1.72x | NT$-365.65 Million |
| 2003 | 7.44% | 17.77% | 0.23x | 1.79x | NT$-164.28 Million |
| 2004 | 4.96% | 11.07% | 0.24x | 1.88x | NT$-332.48 Million |
| 2005 | 6.63% | 14.52% | 0.28x | 1.62x | NT$-249.47 Million |
| 2006 | 9.24% | 20.52% | 0.29x | 1.55x | NT$-59.84 Million |
| 2007 | 5.61% | 11.00% | 0.34x | 1.52x | NT$-341.05 Million |
| 2008 | 6.06% | 10.14% | 0.39x | 1.52x | NT$-299.48 Million |
| 2009 | 6.44% | 12.34% | 0.35x | 1.49x | NT$-283.98 Million |
| 2010 | 8.57% | 15.55% | 0.37x | 1.47x | NT$-120.66 Million |
| 2011 | 7.05% | 12.08% | 0.39x | 1.48x | NT$-246.47 Million |
| 2012 | 7.08% | 11.54% | 0.42x | 1.47x | NT$-248.99 Million |
| 2013 | 6.57% | 11.67% | 0.38x | 1.47x | NT$-326.51 Million |
| 2014 | 6.76% | 11.90% | 0.38x | 1.50x | NT$-314.56 Million |
| 2015 | 6.16% | 14.65% | 0.28x | 1.50x | NT$-376.59 Million |
| 2016 | 6.89% | 20.14% | 0.23x | 1.51x | NT$-320.40 Million |
| 2017 | 7.29% | 20.89% | 0.23x | 1.51x | NT$-287.88 Million |
| 2018 | 6.19% | 16.29% | 0.24x | 1.56x | NT$-407.27 Million |
| 2019 | 7.71% | 19.87% | 0.25x | 1.56x | NT$-250.55 Million |
| 2020 | 7.23% | 23.25% | 0.20x | 1.55x | NT$-314.97 Million |
| 2021 | 7.24% | 27.65% | 0.17x | 1.53x | NT$-333.73 Million |
| 2022 | 6.32% | 23.36% | 0.18x | 1.54x | NT$-451.57 Million |
| 2023 | 8.70% | 33.44% | 0.17x | 1.51x | NT$-173.78 Million |
| 2024 | 6.27% | 25.81% | 0.16x | 1.51x | NT$-508.57 Million |
Industry Comparison
This section compares Great Taipei Gas Corp's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $2,359,650,800
- Average return on equity (ROE) among peers: 12.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Great Taipei Gas Corp (9908) | NT$15.12 Billion | 4.21% | 0.37x | $467.09 Million |
| Shinhsiung Natural Gas (8908) | $3.13 Billion | 15.44% | 1.26x | $390.76 Million |
| Hsin Tai Gas Co Ltd (8917) | $2.71 Billion | 14.31% | 1.10x | $268.01 Million |
| Shin Shin Natural Gas Co Ltd (9918) | $2.15 Billion | 9.51% | 0.48x | $242.56 Million |
| Shin Hai Gas Corp (9926) | $1.74 Billion | 11.70% | 0.58x | $279.37 Million |
| Hsin Kao Gas Co Ltd (9931) | $2.07 Billion | 9.33% | 1.15x | $132.16 Million |
About Great Taipei Gas Corp
The Great Taipei Gas Corporation, together with its subsidiaries, supplies natural gas in Taiwan. The company also manufactures, markets, and supplies gas and related equipment, such as gauges and meters. In addition, it provides water return machines, hot water boilers, range hoods, gas stove, and gas clothes dryers; and telecommunication network and office building rental services. Further, the… Read more