Giant Manufacturing Co Ltd (9921) - Net Assets
Based on the latest financial reports, Giant Manufacturing Co Ltd (9921) has net assets worth NT$36.06 Billion TWD (≈ $1.14 Billion 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$69.86 Billion ≈ $2.20 Billion USD) and total liabilities (NT$33.80 Billion ≈ $1.06 Billion 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 Giant Manufacturing Co Ltd (9921) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$36.06 Billion |
| % of Total Assets | 51.62% |
| Annual Growth Rate | 9.63% |
| 5-Year Change | 36.26% |
| 10-Year Change | 80.03% |
| Growth Volatility | 7.04 |
Giant Manufacturing Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how Giant Manufacturing Co Ltd's net assets have evolved over time, based on quarterly financial data. See Giant Manufacturing Co Ltd (9921) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Giant Manufacturing Co Ltd (2000–2024)
The table below shows the annual net assets of Giant Manufacturing Co Ltd from 2000 to 2024. For live valuation and market cap data, see how much is Giant Manufacturing Co Ltd worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$36.74 Billion ≈ $1.16 Billion |
+1.13% |
| 2023-12-31 | NT$36.33 Billion ≈ $1.14 Billion |
+1.18% |
| 2022-12-31 | NT$35.90 Billion ≈ $1.13 Billion |
+21.07% |
| 2021-12-31 | NT$29.65 Billion ≈ $934.23 Million |
+9.99% |
| 2020-12-31 | NT$26.96 Billion ≈ $849.41 Million |
+14.90% |
| 2019-12-31 | NT$23.46 Billion ≈ $739.25 Million |
+5.37% |
| 2018-12-31 | NT$22.27 Billion ≈ $701.59 Million |
+6.00% |
| 2017-12-31 | NT$21.01 Billion ≈ $661.85 Million |
+4.95% |
| 2016-12-31 | NT$20.02 Billion ≈ $630.66 Million |
-1.90% |
| 2015-12-31 | NT$20.41 Billion ≈ $642.90 Million |
+4.42% |
| 2014-12-31 | NT$19.54 Billion ≈ $615.67 Million |
+11.22% |
| 2013-12-31 | NT$17.57 Billion ≈ $553.54 Million |
+11.71% |
| 2012-12-31 | NT$15.73 Billion ≈ $495.52 Million |
+2.82% |
| 2011-12-31 | NT$15.30 Billion ≈ $481.91 Million |
+15.71% |
| 2010-12-31 | NT$13.22 Billion ≈ $416.47 Million |
+17.86% |
| 2009-12-31 | NT$11.22 Billion ≈ $353.35 Million |
+16.86% |
| 2008-12-31 | NT$9.60 Billion ≈ $302.37 Million |
+21.99% |
| 2007-12-31 | NT$7.87 Billion ≈ $247.87 Million |
+22.31% |
| 2006-12-31 | NT$6.43 Billion ≈ $202.65 Million |
+2.42% |
| 2005-12-31 | NT$6.28 Billion ≈ $197.85 Million |
+9.39% |
| 2004-12-31 | NT$5.74 Billion ≈ $180.86 Million |
+0.64% |
| 2003-12-31 | NT$5.70 Billion ≈ $179.71 Million |
+12.50% |
| 2002-12-31 | NT$5.07 Billion ≈ $159.75 Million |
+12.11% |
| 2001-12-31 | NT$4.52 Billion ≈ $142.50 Million |
+11.73% |
| 2000-12-31 | NT$4.05 Billion ≈ $127.54 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Giant Manufacturing 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 2236.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$26.38 Billion | 78.14% |
| Common Stock | NT$3.92 Billion | 11.61% |
| Other Comprehensive Income | NT$-1.31 Billion | -3.88% |
| Other Components | NT$4.77 Billion | 14.12% |
| Total Equity | NT$33.76 Billion | 100.00% |
Giant Manufacturing Co Ltd Competitors by Market Cap
The table below lists competitors of Giant Manufacturing Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jiangsu Libert Inc
SHG:605167
|
$929.18 Million |
|
CWB Automotive Electronics Co Ltd
SHG:605005
|
$929.47 Million |
|
Business First Bancshares Inc
NASDAQ:BFST
|
$929.69 Million |
|
Ningbo Cixing
SHE:300307
|
$930.14 Million |
|
Lemon Tree Hotels Limited
NSE:LEMONTREE
|
$928.80 Million |
|
Hangzhou Pinming Software Co. Ltd. A
SHG:688109
|
$928.74 Million |
|
Yangzhou Seashine New Materials Co
SHE:300885
|
$928.51 Million |
|
Jiangsu Changbao Steeltube Co Ltd
SHE:002478
|
$927.98 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Giant Manufacturing Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 33,681,265,000 to 33,755,471,000, a change of 74,206,000 (0.2%).
- Net income of 1,264,013,000 contributed positively to equity growth.
- Dividend payments of 1,960,323,000 reduced retained earnings.
- Other comprehensive income decreased equity by 8,118,799,000.
- Other factors increased equity by 8,889,315,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.26 Billion | +3.74% |
| Dividends Paid | NT$1.96 Billion | -5.81% |
| Other Comprehensive Income | NT$-8.12 Billion | -24.05% |
| Other Changes | NT$8.89 Billion | +26.33% |
| Total Change | NT$- | 0.22% |
Book Value vs Market Value Analysis
This analysis compares Giant Manufacturing 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: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 4.34x to 0.91x 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$17.33 | NT$75.20 | x |
| 2007-12-31 | NT$21.16 | NT$75.20 | x |
| 2008-12-31 | NT$25.53 | NT$75.20 | x |
| 2009-12-31 | NT$30.47 | NT$75.20 | x |
| 2010-12-31 | NT$35.59 | NT$75.20 | x |
| 2011-12-31 | NT$39.56 | NT$75.20 | x |
| 2012-12-31 | NT$40.87 | NT$75.20 | x |
| 2013-12-31 | NT$45.99 | NT$75.20 | x |
| 2014-12-31 | NT$51.25 | NT$75.20 | x |
| 2015-12-31 | NT$53.59 | NT$75.20 | x |
| 2016-12-31 | NT$52.53 | NT$75.20 | x |
| 2017-12-31 | NT$51.68 | NT$75.20 | x |
| 2018-12-31 | NT$54.70 | NT$75.20 | x |
| 2019-12-31 | NT$57.51 | NT$75.20 | x |
| 2020-12-31 | NT$66.21 | NT$75.20 | x |
| 2021-12-31 | NT$72.31 | NT$75.20 | x |
| 2022-12-31 | NT$86.06 | NT$75.20 | x |
| 2023-12-31 | NT$82.54 | NT$75.20 | x |
| 2024-12-31 | NT$82.90 | NT$75.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Giant Manufacturing 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): 3.74%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.77%
- • Asset Turnover: 0.91x
- • Equity Multiplier: 2.33x
- Recent ROE (3.74%) is below the historical average (17.65%), 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 | 19.72% | 5.67% | 1.33x | 2.61x | NT$393.56 Million |
| 2001 | 12.01% | 3.74% | 1.35x | 2.38x | NT$91.06 Million |
| 2002 | 14.72% | 4.45% | 1.47x | 2.25x | NT$239.36 Million |
| 2003 | 19.85% | 6.13% | 1.49x | 2.17x | NT$561.57 Million |
| 2004 | 20.06% | 5.31% | 1.48x | 2.54x | NT$577.53 Million |
| 2005 | 19.15% | 4.32% | 1.65x | 2.68x | NT$548.60 Million |
| 2006 | 16.24% | 3.75% | 1.58x | 2.73x | NT$389.10 Million |
| 2007 | 23.67% | 5.48% | 1.56x | 2.78x | NT$1.05 Billion |
| 2008 | 26.46% | 5.92% | 1.60x | 2.79x | NT$1.53 Billion |
| 2009 | 21.80% | 6.10% | 1.58x | 2.26x | NT$1.29 Billion |
| 2010 | 19.97% | 5.84% | 1.46x | 2.34x | NT$1.29 Billion |
| 2011 | 20.15% | 6.36% | 1.39x | 2.28x | NT$1.52 Billion |
| 2012 | 19.47% | 5.57% | 1.39x | 2.52x | NT$1.46 Billion |
| 2013 | 20.16% | 6.44% | 1.34x | 2.33x | NT$1.77 Billion |
| 2014 | 21.22% | 6.85% | 1.33x | 2.33x | NT$2.17 Billion |
| 2015 | 18.88% | 6.36% | 1.31x | 2.26x | NT$1.81 Billion |
| 2016 | 15.35% | 5.37% | 1.26x | 2.27x | NT$1.07 Billion |
| 2017 | 10.47% | 3.72% | 1.16x | 2.44x | NT$92.32 Million |
| 2018 | 13.76% | 4.75% | 1.14x | 2.53x | NT$783.30 Million |
| 2019 | 15.45% | 5.32% | 1.07x | 2.70x | NT$1.19 Billion |
| 2020 | 19.66% | 7.07% | 1.12x | 2.48x | NT$2.43 Billion |
| 2021 | 21.58% | 7.25% | 1.06x | 2.81x | NT$3.18 Billion |
| 2022 | 17.52% | 6.35% | 0.98x | 2.80x | NT$2.51 Billion |
| 2023 | 10.10% | 4.42% | 0.91x | 2.51x | NT$33.27 Million |
| 2024 | 3.74% | 1.77% | 0.91x | 2.33x | NT$-2.11 Billion |
Industry Comparison
This section compares Giant Manufacturing Co Ltd's net assets metrics with peer companies in the Leisure industry.
Industry Context
- Industry: Leisure
- Average net assets among peers: $2,927,735,300
- Average return on equity (ROE) among peers: 9.58%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Giant Manufacturing Co Ltd (9921) | NT$36.06 Billion | 19.72% | 0.94x | $928.89 Million |
| Trk Corp (1432) | $1.04 Billion | 0.00% | 3.19x | $59.21 Million |
| Rexon Industrial Corp Ltd (1515) | $2.93 Billion | 5.56% | 1.33x | $146.94 Million |
| Sun Race Sturmey-Archer Inc (1526) | $1.00 Billion | 8.00% | 0.62x | $27.41 Million |
| Chi Hua Fitness Co Ltd (1593) | $1.00 Billion | 14.34% | 0.34x | $37.92 Million |
| Dyaco International Inc (1598) | $898.02 Million | 2.73% | 2.00x | $107.16 Million |
| Johnson Health Tech Co Ltd (1736) | $8.61 Billion | 8.32% | 1.64x | $1.13 Billion |
| Topkey Corp (4536) | $5.99 Billion | 13.88% | 0.88x | $472.12 Million |
| Brogent Technologies (5263) | $2.65 Billion | -1.86% | 0.93x | $229.94 Million |
| Janfusun Fancyworld (5701) | $2.08 Billion | 0.00% | 1.12x | $26.94 Million |
| Fusheng Precision Co Ltd (6670) | $3.09 Billion | 44.81% | 1.88x | $1.32 Billion |
About Giant Manufacturing Co Ltd
Giant Manufacturing Co., Ltd., together with its subsidiaries, engages in the manufacturing and sale of bicycles and electric bicycles in Taiwan, the United States, Europe, Asia, Taiwan, and internationally. The company offers racing, road, trekking, mountain, youth, women's, folding, and stationary bikes, as well as cycling gear bikes. It markets its products through retail stores. Giant Manufac… Read more