Shin Shin Natural Gas Co Ltd (9918) - Net Assets
Based on the latest financial reports, Shin Shin Natural Gas Co Ltd (9918) has net assets worth NT$3.25 Billion TWD (≈ $102.55 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$5.78 Billion ≈ $182.22 Million USD) and total liabilities (NT$2.53 Billion ≈ $79.68 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 resilient are Shin Shin Natural Gas Co Ltd's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.25 Billion |
| % of Total Assets | 56.28% |
| Annual Growth Rate | 2.17% |
| 5-Year Change | 7.62% |
| 10-Year Change | 16.65% |
| Growth Volatility | 3.22 |
Shin Shin Natural Gas Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Shin Shin Natural Gas Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Shin Shin Natural Gas Co Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for Shin Shin Natural Gas Co Ltd (2002–2024)
The table below shows the annual net assets of Shin Shin Natural Gas Co Ltd from 2002 to 2024. For live valuation and market cap data, see market value of Shin Shin Natural Gas Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.31 Billion ≈ $104.21 Million |
+4.47% |
| 2023-12-31 | NT$3.17 Billion ≈ $99.75 Million |
+6.01% |
| 2022-12-31 | NT$2.99 Billion ≈ $94.10 Million |
-4.68% |
| 2021-12-31 | NT$3.13 Billion ≈ $98.72 Million |
+1.95% |
| 2020-12-31 | NT$3.07 Billion ≈ $96.83 Million |
+2.94% |
| 2019-12-31 | NT$2.99 Billion ≈ $94.07 Million |
+2.56% |
| 2018-12-31 | NT$2.91 Billion ≈ $91.72 Million |
+0.58% |
| 2017-12-31 | NT$2.89 Billion ≈ $91.19 Million |
+1.64% |
| 2016-12-31 | NT$2.85 Billion ≈ $89.72 Million |
+0.43% |
| 2015-12-31 | NT$2.84 Billion ≈ $89.34 Million |
+0.29% |
| 2014-12-31 | NT$2.83 Billion ≈ $89.08 Million |
-0.78% |
| 2013-12-31 | NT$2.85 Billion ≈ $89.78 Million |
+0.65% |
| 2012-12-31 | NT$2.83 Billion ≈ $89.20 Million |
+0.94% |
| 2011-12-31 | NT$2.80 Billion ≈ $88.37 Million |
+5.54% |
| 2010-12-31 | NT$2.66 Billion ≈ $83.73 Million |
+7.73% |
| 2009-12-31 | NT$2.47 Billion ≈ $77.72 Million |
+7.30% |
| 2008-12-31 | NT$2.30 Billion ≈ $72.44 Million |
-2.84% |
| 2007-12-31 | NT$2.37 Billion ≈ $74.55 Million |
+1.33% |
| 2006-12-31 | NT$2.34 Billion ≈ $73.58 Million |
+8.66% |
| 2005-12-31 | NT$2.15 Billion ≈ $67.72 Million |
+0.94% |
| 2004-12-31 | NT$2.13 Billion ≈ $67.08 Million |
+1.10% |
| 2003-12-31 | NT$2.11 Billion ≈ $66.35 Million |
+2.02% |
| 2002-12-31 | NT$2.06 Billion ≈ $65.04 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shin Shin Natural Gas 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 326.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$520.78 Million | 15.74% |
| Common Stock | NT$1.81 Billion | 54.58% |
| Other Comprehensive Income | NT$945.05 Million | 28.57% |
| Other Components | NT$36.55 Million | 1.10% |
| Total Equity | NT$3.31 Billion | 100.00% |
Shin Shin Natural Gas Co Ltd Competitors by Market Cap
The table below lists competitors of Shin Shin Natural Gas Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Roman DBDR Acquisition Corp. II Ordinary shares
NASDAQ:DRDB
|
$241.73 Million |
|
Thu Dau Mot Water JSC
VN:TDM
|
$241.98 Million |
|
Vine Hill Capital Investment Corp. Class A Ordinary Shares
NASDAQ:VCIC
|
$242.00 Million |
|
Bygg Partner i Dalarna Holding AB
ST:BYGGP
|
$242.03 Million |
|
Nusantara Infrastructure Tbk
JK:META
|
$241.62 Million |
|
K-Fast Holding AB (publ)
ST:KFAST-B
|
$241.48 Million |
|
Valuetronics Holdings Limited
F:GJ7
|
$241.41 Million |
|
Kimteks Poliuretan Sanayi ve Ticaret AS
IS:KMPUR
|
$241.31 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shin Shin Natural Gas Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,166,153,000 to 3,307,757,000, a change of 141,604,000 (4.5%).
- Net income of 397,412,000 contributed positively to equity growth.
- Dividend payments of 267,014,000 reduced retained earnings.
- Other comprehensive income increased equity by 35,743,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$397.41 Million | +12.01% |
| Dividends Paid | NT$267.01 Million | -8.07% |
| Other Comprehensive Income | NT$35.74 Million | +1.08% |
| Other Changes | NT$-24.54 Million | -0.74% |
| Total Change | NT$- | 4.47% |
Book Value vs Market Value Analysis
This analysis compares Shin Shin Natural Gas 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: 2.32x
- 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 3.61x to 2.32x 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$11.95 | NT$43.10 | x |
| 2005-12-31 | NT$12.06 | NT$43.10 | x |
| 2006-12-31 | NT$13.10 | NT$43.10 | x |
| 2007-12-31 | NT$13.28 | NT$43.10 | x |
| 2008-12-31 | NT$12.90 | NT$43.10 | x |
| 2009-12-31 | NT$13.84 | NT$43.10 | x |
| 2010-12-31 | NT$14.91 | NT$43.10 | x |
| 2011-12-31 | NT$15.69 | NT$43.10 | x |
| 2012-12-31 | NT$15.89 | NT$43.10 | x |
| 2013-12-31 | NT$15.99 | NT$43.10 | x |
| 2014-12-31 | NT$15.87 | NT$43.10 | x |
| 2015-12-31 | NT$15.91 | NT$43.10 | x |
| 2016-12-31 | NT$15.98 | NT$43.10 | x |
| 2017-12-31 | NT$16.24 | NT$43.10 | x |
| 2018-12-31 | NT$16.34 | NT$43.10 | x |
| 2019-12-31 | NT$16.75 | NT$43.10 | x |
| 2020-12-31 | NT$17.24 | NT$43.10 | x |
| 2021-12-31 | NT$17.58 | NT$43.10 | x |
| 2022-12-31 | NT$16.77 | NT$43.10 | x |
| 2023-12-31 | NT$17.76 | NT$43.10 | x |
| 2024-12-31 | NT$18.55 | NT$43.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shin Shin Natural Gas Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.01%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.94%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 1.81x
- Recent ROE (12.01%) is above the historical average (9.27%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 5.71% | 9.12% | 0.45x | 1.39x | NT$-88.54 Million |
| 2003 | 9.93% | 14.66% | 0.48x | 1.42x | NT$-1.52 Million |
| 2004 | 9.97% | 13.73% | 0.51x | 1.43x | NT$-728.50K |
| 2005 | 9.51% | 11.44% | 0.56x | 1.48x | NT$-10.50 Million |
| 2006 | 9.85% | 12.54% | 0.59x | 1.33x | NT$-3.55 Million |
| 2007 | 11.14% | 12.66% | 0.66x | 1.34x | NT$26.91 Million |
| 2008 | 9.85% | 9.37% | 0.78x | 1.34x | NT$-3.35 Million |
| 2009 | 10.78% | 12.09% | 0.69x | 1.30x | NT$19.34 Million |
| 2010 | 11.02% | 11.96% | 0.71x | 1.29x | NT$27.04 Million |
| 2011 | 9.15% | 9.68% | 0.72x | 1.32x | NT$-23.87 Million |
| 2012 | 11.03% | 11.20% | 0.74x | 1.34x | NT$29.08 Million |
| 2013 | 7.53% | 8.00% | 0.67x | 1.40x | NT$-70.31 Million |
| 2014 | 6.47% | 6.56% | 0.70x | 1.42x | NT$-99.86 Million |
| 2015 | 8.65% | 11.59% | 0.51x | 1.46x | NT$-38.19 Million |
| 2016 | 7.79% | 12.59% | 0.41x | 1.52x | NT$-63.00 Million |
| 2017 | 8.66% | 12.91% | 0.42x | 1.58x | NT$-38.83 Million |
| 2018 | 7.79% | 10.48% | 0.46x | 1.63x | NT$-64.46 Million |
| 2019 | 8.75% | 12.09% | 0.43x | 1.69x | NT$-37.44 Million |
| 2020 | 10.63% | 16.45% | 0.38x | 1.69x | NT$19.40 Million |
| 2021 | 10.93% | 19.08% | 0.34x | 1.70x | NT$29.07 Million |
| 2022 | 4.82% | 7.39% | 0.37x | 1.78x | NT$-154.81 Million |
| 2023 | 11.24% | 18.42% | 0.34x | 1.82x | NT$39.27 Million |
| 2024 | 12.01% | 19.94% | 0.33x | 1.81x | NT$66.64 Million |
Industry Comparison
This section compares Shin Shin Natural Gas Co Ltd's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $4,379,457,600
- Average return on equity (ROE) among peers: 12.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shin Shin Natural Gas Co Ltd (9918) | NT$3.25 Billion | 5.71% | 0.78x | $241.72 Million |
| Shinhsiung Natural Gas (8908) | $3.92 Billion | 13.26% | 1.25x | $390.26 Million |
| Hsin Tai Gas Co Ltd (8917) | $2.72 Billion | 14.09% | 1.16x | $270.57 Million |
| Great Taipei Gas Corp (9908) | $11.90 Billion | 5.56% | 0.40x | $464.72 Million |
| Shin Hai Gas Corp (9926) | $1.84 Billion | 13.69% | 0.58x | $279.09 Million |
| Hsin Kao Gas Co Ltd (9931) | $1.52 Billion | 14.72% | 1.25x | $131.78 Million |
About Shin Shin Natural Gas Co Ltd
Shin Shin Natural Gas Company Limited engages in the transmission of combustible natural gas by pipeline for non-industrial fuel supply in Taiwan. The company involved in installation of gas pipeline construction, and other related natural gas industry and affiliated businesses. It also manufactures, sells, imports, and exports gas equipment; and plans and supervises gas equipment and constructio… Read more