Shin Hai Gas Corp
Shin Hai Gas Corporation engages in the supply and sale of natural gas and related equipment in Taiwan. The company provides microcomputer gas meters, gas leak alarms, shut-off valves, safety equipment, natural gas special stoves, and gas type clothes dryers. It also offers telecom services. Shin Hai Gas Corporation was founded in 1966 and is headquartered in New Taipei City, Taiwan.
Shin Hai Gas Corp (9926) - Net Assets
Latest net assets as of September 2025: NT$4.18 Billion TWD
Based on the latest financial reports, Shin Hai Gas Corp (9926) has net assets worth NT$4.18 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$8.75 Billion) and total liabilities (NT$4.57 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$4.18 Billion |
| % of Total Assets | 47.74% |
| Annual Growth Rate | 4.76% |
| 5-Year Change | 25.41% |
| 10-Year Change | 51.39% |
| Growth Volatility | 3.3 |
Shin Hai Gas Corp - Net Assets Trend (2002–2024)
This chart illustrates how Shin Hai Gas Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Shin Hai Gas Corp (2002–2024)
The table below shows the annual net assets of Shin Hai Gas Corp from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$4.11 Billion | +5.43% |
| 2023-12-31 | NT$3.90 Billion | +10.50% |
| 2022-12-31 | NT$3.53 Billion | -1.84% |
| 2021-12-31 | NT$3.60 Billion | +9.67% |
| 2020-12-31 | NT$3.28 Billion | +6.34% |
| 2019-12-31 | NT$3.09 Billion | +5.20% |
| 2018-12-31 | NT$2.93 Billion | +1.55% |
| 2017-12-31 | NT$2.89 Billion | +3.64% |
| 2016-12-31 | NT$2.79 Billion | +2.53% |
| 2015-12-31 | NT$2.72 Billion | +4.34% |
| 2014-12-31 | NT$2.60 Billion | +2.59% |
| 2013-12-31 | NT$2.54 Billion | +1.97% |
| 2012-12-31 | NT$2.49 Billion | +7.05% |
| 2011-12-31 | NT$2.33 Billion | +3.43% |
| 2010-12-31 | NT$2.25 Billion | +9.56% |
| 2009-12-31 | NT$2.05 Billion | +11.83% |
| 2008-12-31 | NT$1.84 Billion | +5.48% |
| 2007-12-31 | NT$1.74 Billion | +5.25% |
| 2006-12-31 | NT$1.65 Billion | +5.22% |
| 2005-12-31 | NT$1.57 Billion | +0.68% |
| 2004-12-31 | NT$1.56 Billion | +3.25% |
| 2003-12-31 | NT$1.51 Billion | +2.27% |
| 2002-12-31 | NT$1.48 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shin Hai 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 839.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$834.12 Million | 20.27% |
| Common Stock | NT$1.80 Billion | 43.63% |
| Other Comprehensive Income | NT$1.49 Billion | 36.10% |
| Total Equity | NT$4.11 Billion | 100.00% |
Shin Hai Gas Corp Competitors by Market Cap
The table below lists competitors of Shin Hai Gas Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jiangling Motors Corp Ltd
SHE:200550
|
$101.86 Million |
|
ZheJiang HuaSheng Technology Co.Ltd
SHG:605180
|
$101.89 Million |
|
Asiacement
KO:183190
|
$101.96 Million |
|
Andina Copper Corporation
V:ANDC
|
$101.97 Million |
|
Viet Nam Power Development JSC
VN:VPD
|
$101.81 Million |
|
Besqab
ST:BESQAB
|
$101.79 Million |
|
Symal Group Ltd
AU:SYL
|
$101.77 Million |
|
Jean Co Ltd
TW:2442
|
$101.72 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shin Hai Gas Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,902,406,000 to 4,114,176,000, a change of 211,770,000 (5.4%).
- Net income of 474,498,000 contributed positively to equity growth.
- Dividend payments of 359,008,000 reduced retained earnings.
- Other comprehensive income increased equity by 140,741,000.
- Other factors decreased equity by 44,461,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$474.50 Million | +11.53% |
| Dividends Paid | NT$359.01 Million | -8.73% |
| Other Comprehensive Income | NT$140.74 Million | +3.42% |
| Other Changes | NT$-44.46 Million | -1.08% |
| Total Change | NT$- | 5.43% |
Book Value vs Market Value Analysis
This analysis compares Shin Hai 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: 2.19x
- 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 4.40x to 2.19x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$11.37 | NT$50.10 | x |
| 2010-12-31 | NT$12.47 | NT$50.10 | x |
| 2011-12-31 | NT$12.91 | NT$50.10 | x |
| 2012-12-31 | NT$13.83 | NT$50.10 | x |
| 2013-12-31 | NT$14.10 | NT$50.10 | x |
| 2014-12-31 | NT$14.47 | NT$50.10 | x |
| 2015-12-31 | NT$15.09 | NT$50.10 | x |
| 2016-12-31 | NT$15.48 | NT$50.10 | x |
| 2017-12-31 | NT$16.03 | NT$50.10 | x |
| 2018-12-31 | NT$16.28 | NT$50.10 | x |
| 2019-12-31 | NT$17.12 | NT$50.10 | x |
| 2020-12-31 | NT$18.21 | NT$50.10 | x |
| 2021-12-31 | NT$19.98 | NT$50.10 | x |
| 2022-12-31 | NT$19.61 | NT$50.10 | x |
| 2023-12-31 | NT$21.67 | NT$50.10 | x |
| 2024-12-31 | NT$22.84 | NT$50.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shin Hai Gas Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.53%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.35%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 2.11x
- Recent ROE (11.53%) is above the historical average (11.06%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 5.60% | 7.09% | 0.45x | 1.75x | NT$-65.02 Million |
| 2003 | 6.85% | 8.36% | 0.47x | 1.74x | NT$-47.68 Million |
| 2004 | 8.70% | 9.98% | 0.50x | 1.73x | NT$-20.36 Million |
| 2005 | 8.00% | 7.98% | 0.57x | 1.76x | NT$-31.48 Million |
| 2007 | 11.70% | 10.81% | 0.69x | 1.58x | NT$29.51 Million |
| 2008 | 13.69% | 10.95% | 0.79x | 1.58x | NT$67.70 Million |
| 2009 | 12.50% | 11.46% | 0.72x | 1.51x | NT$51.32 Million |
| 2010 | 13.79% | 13.10% | 0.74x | 1.43x | NT$85.13 Million |
| 2011 | 11.76% | 11.27% | 0.74x | 1.41x | NT$40.95 Million |
| 2012 | 12.20% | 11.11% | 0.76x | 1.44x | NT$54.75 Million |
| 2013 | 8.47% | 8.39% | 0.62x | 1.62x | NT$-38.84 Million |
| 2014 | 10.22% | 9.62% | 0.57x | 1.86x | NT$5.79 Million |
| 2015 | 11.75% | 14.29% | 0.44x | 1.87x | NT$47.63 Million |
| 2016 | 10.95% | 15.46% | 0.37x | 1.92x | NT$26.44 Million |
| 2017 | 12.54% | 16.71% | 0.38x | 1.96x | NT$73.35 Million |
| 2018 | 11.14% | 14.30% | 0.39x | 2.00x | NT$33.55 Million |
| 2019 | 11.79% | 15.14% | 0.38x | 2.04x | NT$55.20 Million |
| 2020 | 12.79% | 19.10% | 0.32x | 2.09x | NT$91.67 Million |
| 2021 | 12.47% | 20.94% | 0.29x | 2.06x | NT$88.73 Million |
| 2022 | 12.81% | 20.23% | 0.29x | 2.16x | NT$99.20 Million |
| 2023 | 11.99% | 20.43% | 0.28x | 2.13x | NT$77.50 Million |
| 2024 | 11.53% | 20.35% | 0.27x | 2.11x | NT$63.08 Million |
Industry Comparison
This section compares Shin Hai 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: $3,669,098,600
- Average return on equity (ROE) among peers: 8.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shin Hai Gas Corp (9926) | NT$4.18 Billion | 5.60% | 1.09x | $101.86 Million |
| Shinhsiung Natural Gas (8908) | $4.31 Billion | 13.29% | 1.24x | $41.94 Million |
| Hsin Tai Gas Co Ltd (8917) | $1.96 Billion | 12.39% | 1.25x | $135.08 Million |
| Great Taipei Gas Corp (9908) | $8.76 Billion | 5.87% | 0.36x | $283.48 Million |
| Shin Shin Natural Gas Co Ltd (9918) | $2.06 Billion | 5.71% | 0.39x | $101.34 Million |
| Hsin Kao Gas Co Ltd (9931) | $1.25 Billion | 7.51% | 1.64x | $49.25 Million |