Merida Industry Co Ltd
Merida Industry Co., Ltd., together with its subsidiaries, manufactures and sells bicycles and components in Taiwan, China, Hong Kong, Japan, and Europe. The company offers mountain bikes, road bikes, fitness bikes, gravel bikes, trekking bikes, and e-bikes, as well as bikes for youth and kids. It also provides handlebars, stems, grips and bartapes, seatposts and clamps, saddles, pedals, protecti… Read more
Merida Industry Co Ltd (9914) - Net Assets
Latest net assets as of September 2025: NT$19.47 Billion TWD
Based on the latest financial reports, Merida Industry Co Ltd (9914) has net assets worth NT$19.47 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$36.13 Billion) and total liabilities (NT$16.65 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$19.47 Billion |
| % of Total Assets | 53.9% |
| Annual Growth Rate | 8.42% |
| 5-Year Change | 20.87% |
| 10-Year Change | 51.66% |
| Growth Volatility | 9.34 |
Merida Industry Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Merida Industry Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Merida Industry Co Ltd (2000–2024)
The table below shows the annual net assets of Merida Industry Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$20.28 Billion | -5.97% |
| 2023-12-31 | NT$21.57 Billion | +0.35% |
| 2022-12-31 | NT$21.49 Billion | +15.74% |
| 2021-12-31 | NT$18.57 Billion | +10.67% |
| 2020-12-31 | NT$16.78 Billion | +16.50% |
| 2019-12-31 | NT$14.40 Billion | +8.49% |
| 2018-12-31 | NT$13.28 Billion | +9.90% |
| 2017-12-31 | NT$12.08 Billion | -7.61% |
| 2016-12-31 | NT$13.08 Billion | -2.22% |
| 2015-12-31 | NT$13.37 Billion | +6.47% |
| 2014-12-31 | NT$12.56 Billion | +18.64% |
| 2013-12-31 | NT$10.59 Billion | +20.87% |
| 2012-12-31 | NT$8.76 Billion | +19.84% |
| 2011-12-31 | NT$7.31 Billion | +22.35% |
| 2010-12-31 | NT$5.97 Billion | -1.88% |
| 2009-12-31 | NT$6.09 Billion | +14.59% |
| 2008-12-31 | NT$5.31 Billion | +4.80% |
| 2007-12-31 | NT$5.07 Billion | +22.10% |
| 2006-12-31 | NT$4.15 Billion | +9.16% |
| 2005-12-31 | NT$3.80 Billion | +20.81% |
| 2004-12-31 | NT$3.15 Billion | -5.30% |
| 2003-12-31 | NT$3.32 Billion | +2.39% |
| 2002-12-31 | NT$3.25 Billion | +4.70% |
| 2001-12-31 | NT$3.10 Billion | +6.31% |
| 2000-12-31 | NT$2.92 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merida Industry 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 4648.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$10.32 Billion | 53.50% |
| Common Stock | NT$2.99 Billion | 15.50% |
| Other Comprehensive Income | NT$5.04 Billion | 26.13% |
| Other Components | NT$940.46 Million | 4.87% |
| Total Equity | NT$19.30 Billion | 100.00% |
Merida Industry Co Ltd Competitors by Market Cap
The table below lists competitors of Merida Industry Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Starry Pharm Co Ltd
SHG:603520
|
$434.63 Million |
|
DukSan Neolux Co.Ltd
KQ:213420
|
$434.69 Million |
|
Anhui Xinli Finance Co Ltd
SHG:600318
|
$434.82 Million |
|
Zhejiang Xinao Textiles Inc
SHG:603889
|
$434.88 Million |
|
Jupiter Fund Management Plc
PINK:JFHHF
|
$434.30 Million |
|
MANDARIN ORIENTAL DL-05
F:1C4
|
$434.24 Million |
|
General Interface Solution GIS Holding Ltd
TW:6456
|
$434.18 Million |
|
CorMedix Inc
NASDAQ:CRMD
|
$434.06 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merida Industry Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 20,519,549,000 to 19,295,453,000, a change of -1,224,096,000 (-6.0%).
- Net loss of 699,103,000 reduced equity.
- Dividend payments of 1,793,903,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,076,030,001.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-699.10 Million | -3.62% |
| Dividends Paid | NT$1.79 Billion | -9.3% |
| Other Comprehensive Income | NT$1.08 Billion | +5.58% |
| Other Changes | NT$192.88 Million | +1.0% |
| Total Change | NT$- | -5.97% |
Book Value vs Market Value Analysis
This analysis compares Merida Industry 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: 1.06x
- 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 5.03x to 1.06x 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$13.57 | NT$68.20 | x |
| 2007-12-31 | NT$16.57 | NT$68.20 | x |
| 2008-12-31 | NT$16.95 | NT$68.20 | x |
| 2009-12-31 | NT$19.52 | NT$68.20 | x |
| 2010-12-31 | NT$19.27 | NT$68.20 | x |
| 2011-12-31 | NT$23.73 | NT$68.20 | x |
| 2012-12-31 | NT$28.32 | NT$68.20 | x |
| 2013-12-31 | NT$33.60 | NT$68.20 | x |
| 2014-12-31 | NT$39.92 | NT$68.20 | x |
| 2015-12-31 | NT$42.67 | NT$68.20 | x |
| 2016-12-31 | NT$41.89 | NT$68.20 | x |
| 2017-12-31 | NT$38.63 | NT$68.20 | x |
| 2018-12-31 | NT$42.46 | NT$68.20 | x |
| 2019-12-31 | NT$45.87 | NT$68.20 | x |
| 2020-12-31 | NT$53.28 | NT$68.20 | x |
| 2021-12-31 | NT$59.10 | NT$68.20 | x |
| 2022-12-31 | NT$68.38 | NT$68.20 | x |
| 2023-12-31 | NT$68.35 | NT$68.20 | x |
| 2024-12-31 | NT$64.54 | NT$68.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merida Industry Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.62%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.36%
- • Asset Turnover: 0.79x
- • Equity Multiplier: 1.95x
- Recent ROE (-3.62%) is below the historical average (17.28%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 7.34% | 4.26% | 0.91x | 1.89x | NT$-77.46 Million |
| 2002 | 3.65% | 2.33% | 0.81x | 1.94x | NT$-206.20 Million |
| 2003 | 6.31% | 3.49% | 0.96x | 1.88x | NT$-122.56 Million |
| 2004 | 13.46% | 5.99% | 1.13x | 1.98x | NT$109.05 Million |
| 2005 | 16.45% | 7.69% | 1.20x | 1.78x | NT$239.87 Million |
| 2006 | 18.06% | 8.38% | 1.16x | 1.86x | NT$326.94 Million |
| 2007 | 26.88% | 10.42% | 1.35x | 1.91x | NT$836.09 Million |
| 2008 | 23.18% | 7.64% | 1.36x | 2.24x | NT$676.03 Million |
| 2009 | 19.09% | 7.38% | 1.30x | 1.99x | NT$536.41 Million |
| 2010 | 21.46% | 7.44% | 1.40x | 2.05x | NT$666.74 Million |
| 2011 | 25.36% | 9.01% | 1.44x | 1.96x | NT$1.10 Billion |
| 2012 | 27.29% | 9.54% | 1.46x | 1.96x | NT$1.47 Billion |
| 2013 | 28.76% | 11.49% | 1.35x | 1.86x | NT$1.90 Billion |
| 2014 | 27.88% | 12.31% | 1.25x | 1.81x | NT$2.15 Billion |
| 2015 | 23.67% | 10.82% | 1.26x | 1.74x | NT$1.76 Billion |
| 2016 | 15.25% | 8.38% | 1.06x | 1.72x | NT$660.35 Million |
| 2017 | 6.88% | 3.56% | 1.07x | 1.81x | NT$-361.16 Million |
| 2018 | 13.40% | 6.61% | 1.13x | 1.79x | NT$433.62 Million |
| 2019 | 18.16% | 8.86% | 1.10x | 1.86x | NT$1.12 Billion |
| 2020 | 24.91% | 14.75% | 0.91x | 1.85x | NT$2.39 Billion |
| 2021 | 26.19% | 15.82% | 0.83x | 2.00x | NT$2.87 Billion |
| 2022 | 16.46% | 9.16% | 0.87x | 2.07x | NT$1.33 Billion |
| 2023 | 8.24% | 6.21% | 0.71x | 1.86x | NT$-360.13 Million |
| 2024 | -3.62% | -2.36% | 0.79x | 1.95x | NT$-2.63 Billion |
Industry Comparison
This section compares Merida Industry Co Ltd's net assets metrics with peer companies in the Leisure industry.
Industry Context
- Industry: Leisure
- Average net assets among peers: $2,534,298,600
- Average return on equity (ROE) among peers: 8.03%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merida Industry Co Ltd (9914) | NT$19.47 Billion | 7.34% | 0.86x | $434.53 Million |
| Trk Corp (1432) | $1.97 Billion | -7.22% | 0.59x | $33.01 Million |
| Rexon Industrial Corp Ltd (1515) | $3.82 Billion | 8.08% | 1.41x | $101.35 Million |
| Sun Race Sturmey-Archer Inc (1526) | $1.43 Billion | 27.02% | 1.03x | $22.48 Million |
| Chi Hua Fitness Co Ltd (1593) | $898.86 Million | 13.38% | 0.22x | $28.89 Million |
| Dyaco International Inc (1598) | $4.06 Billion | -2.33% | 1.94x | $63.81 Million |
| Johnson Health Tech Co Ltd (1736) | $1.87 Billion | 30.80% | 1.42x | $342.33 Million |
| World Fitness Services Ltd (2762) | $2.59 Billion | 11.73% | 5.80x | $21.34K |
| Topkey Corp (4536) | $2.95 Billion | 15.30% | 1.06x | $303.96 Million |
| Brogent Technologies (5263) | $4.00 Billion | 1.84% | 0.36x | $130.25 Million |
| Janfusun Fancyworld (5701) | $1.76 Billion | -18.34% | 1.24x | $8.94 Million |