Hsin Kao Gas Co Ltd Net Assets
Hsin Kao Gas Co Ltd net assets. Based on the latest financial reports, Hsin Kao Gas Co Ltd (9931) has net assets worth NT$4.00 Billion TWD (≈ $125.90 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$7.64 Billion ≈ $240.71 Million USD) and total liabilities (NT$3.64 Billion ≈ $114.82 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. Also explore Hsin Kao Gas Co Ltd equity growth rate to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$4.00 Billion |
| % of Total Assets | 52.3% |
| Annual Growth Rate | 5.0% |
| 5-Year Change | 39.51% |
| 10-Year Change | 100.76% |
| Growth Volatility | 6.64 |
Net Assets of Hsin Kao Gas Co Ltd (2003–2025)
Net assets of Hsin Kao Gas Co Ltd from 2003 to 2025. This chart illustrates how Hsin Kao Gas Co Ltd's net assets have evolved over time, based on quarterly financial data. See Hsin Kao Gas Co Ltd (9931) net asset quality to measure how much of total assets are equity-financed.
Annual Net Assets for Hsin Kao Gas Co Ltd (2003–2025)
The table below shows the annual net assets of Hsin Kao Gas Co Ltd from 2003 to 2025. For live market cap and overall valuation, see market cap of Hsin Kao Gas Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.43 Billion ≈ $108.07 Million |
+9.99% |
| 2024-12-31 | NT$3.12 Billion ≈ $98.26 Million |
+16.01% |
| 2023-12-31 | NT$2.69 Billion ≈ $84.70 Million |
+12.07% |
| 2022-12-31 | NT$2.40 Billion ≈ $75.57 Million |
-2.44% |
| 2021-12-31 | NT$2.46 Billion ≈ $77.46 Million |
+10.45% |
| 2020-12-31 | NT$2.23 Billion ≈ $70.14 Million |
+7.61% |
| 2019-12-31 | NT$2.07 Billion ≈ $65.17 Million |
+7.67% |
| 2018-12-31 | NT$1.92 Billion ≈ $60.53 Million |
+6.75% |
| 2017-12-31 | NT$1.80 Billion ≈ $56.70 Million |
+5.33% |
| 2016-12-31 | NT$1.71 Billion ≈ $53.83 Million |
+0.60% |
| 2015-12-31 | NT$1.70 Billion ≈ $53.51 Million |
+4.84% |
| 2014-12-31 | NT$1.62 Billion ≈ $51.04 Million |
+6.65% |
| 2013-12-31 | NT$1.52 Billion ≈ $47.86 Million |
+5.95% |
| 2012-12-31 | NT$1.43 Billion ≈ $45.17 Million |
+16.64% |
| 2011-12-31 | NT$1.23 Billion ≈ $38.72 Million |
-8.78% |
| 2010-12-31 | NT$1.35 Billion ≈ $42.45 Million |
+5.84% |
| 2009-12-31 | NT$1.27 Billion ≈ $40.11 Million |
+12.51% |
| 2008-12-31 | NT$1.13 Billion ≈ $35.65 Million |
-9.68% |
| 2007-12-31 | NT$1.25 Billion ≈ $39.47 Million |
-0.45% |
| 2006-12-31 | NT$1.26 Billion ≈ $39.65 Million |
+3.32% |
| 2005-12-31 | NT$1.22 Billion ≈ $38.38 Million |
+1.68% |
| 2004-12-31 | NT$1.20 Billion ≈ $37.74 Million |
+2.16% |
| 2003-12-31 | NT$1.17 Billion ≈ $36.94 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Hsin Kao 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 513.2% over the analyzed period, indicating profitable operations and earnings retention.
Hsin Kao Gas Co Ltd Net Assets Breakdown (December 2025)
Hsin Kao Gas Co Ltd net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$591.01 Million | 17.88% |
| Common Stock | NT$1.20 Billion | 36.41% |
| Other Comprehensive Income | NT$1.48 Billion | 44.80% |
| Other Components | NT$30.00 Million | 0.91% |
| Total Equity | NT$3.31 Billion | 100.00% |
Hsin Kao Gas Co Ltd Competitors by Market Cap
The table below lists competitors of Hsin Kao Gas Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Soc Centrale Bois Scieries Manche SA
PA:CBSM
|
$128.95 Million |
|
Sebo Manufacturing Engineering & Construction Corp
KQ:011560
|
$128.96 Million |
|
Lastminute.com NV
F:09B
|
$128.98 Million |
|
Panatlântica S.A
SA:PATI3
|
$129.00 Million |
|
ParTec AG
XETRA:JY0
|
$128.80 Million |
|
REDELFI SPA
F:B0Z
|
$128.64 Million |
|
Gatekeeper Systems Inc
V:GSI
|
$128.59 Million |
|
ClearThink 1 Acquisition Corp.
NASDAQ:CTAA
|
$128.56 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hsin Kao Gas Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,049,462,000 to 3,305,728,000, a change of 256,266,000 (8.4%).
- Net income of 294,552,000 contributed positively to equity growth.
- Dividend payments of 216,665,000 reduced retained earnings.
- Other comprehensive income increased equity by 261,461,000.
- Other factors decreased equity by 83,082,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$294.55 Million | +8.91% |
| Dividends Paid | NT$216.66 Million | -6.55% |
| Other Comprehensive Income | NT$261.46 Million | +7.91% |
| Other Changes | NT$-83.08 Million | -2.51% |
| Total Change | NT$- | 8.40% |
Book Value vs Market Value Analysis
This analysis compares Hsin Kao 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: 1.28x
- 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 2.98x to 1.28x 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$11.42 | NT$34.00 | x |
| 2010-12-31 | NT$12.05 | NT$34.00 | x |
| 2011-12-31 | NT$11.02 | NT$34.00 | x |
| 2012-12-31 | NT$12.84 | NT$34.00 | x |
| 2013-12-31 | NT$13.56 | NT$34.00 | x |
| 2014-12-31 | NT$14.45 | NT$34.00 | x |
| 2015-12-31 | NT$15.14 | NT$34.00 | x |
| 2016-12-31 | NT$15.23 | NT$34.00 | x |
| 2017-12-31 | NT$16.02 | NT$34.00 | x |
| 2018-12-31 | NT$17.09 | NT$34.00 | x |
| 2019-12-31 | NT$16.88 | NT$34.00 | x |
| 2020-12-31 | NT$18.17 | NT$34.00 | x |
| 2021-12-31 | NT$20.02 | NT$34.00 | x |
| 2022-12-31 | NT$19.55 | NT$34.00 | x |
| 2023-12-31 | NT$21.95 | NT$34.00 | x |
| 2024-12-31 | NT$25.29 | NT$34.00 | x |
| 2025-12-31 | NT$26.58 | NT$34.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hsin Kao Gas Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.91%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.78%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 2.03x
- Recent ROE (8.91%) is below the historical average (9.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 4.43% | 9.01% | 0.22x | 2.20x | NT$-65.36 Million |
| 2004 | 6.65% | 12.24% | 0.24x | 2.26x | NT$-40.07 Million |
| 2005 | 6.44% | 9.64% | 0.28x | 2.41x | NT$-42.95 Million |
| 2006 | 5.82% | 8.94% | 0.25x | 2.62x | NT$-52.12 Million |
| 2007 | 7.59% | 9.88% | 0.29x | 2.67x | NT$-29.86 Million |
| 2008 | 9.33% | 9.04% | 0.36x | 2.90x | NT$-7.54 Million |
| 2009 | 6.69% | 8.11% | 0.31x | 2.62x | NT$-41.79 Million |
| 2010 | 12.49% | 14.62% | 0.34x | 2.52x | NT$33.11 Million |
| 2011 | 11.48% | 11.08% | 0.39x | 2.65x | NT$18.03 Million |
| 2012 | 13.15% | 13.67% | 0.41x | 2.33x | NT$44.70 Million |
| 2013 | 14.93% | 15.59% | 0.42x | 2.28x | NT$73.90 Million |
| 2014 | 10.07% | 10.19% | 0.46x | 2.15x | NT$1.14 Million |
| 2015 | 9.66% | 12.81% | 0.36x | 2.10x | NT$-5.62 Million |
| 2016 | 11.02% | 16.96% | 0.30x | 2.14x | NT$17.15 Million |
| 2017 | 9.76% | 14.03% | 0.32x | 2.20x | NT$-4.32 Million |
| 2018 | 11.21% | 14.25% | 0.36x | 2.18x | NT$22.78 Million |
| 2019 | 9.48% | 13.26% | 0.33x | 2.19x | NT$-10.48 Million |
| 2020 | 8.71% | 15.48% | 0.26x | 2.19x | NT$-28.17 Million |
| 2021 | 9.84% | 19.89% | 0.23x | 2.16x | NT$-3.95 Million |
| 2022 | 7.36% | 13.89% | 0.23x | 2.33x | NT$-62.24 Million |
| 2023 | 6.56% | 14.10% | 0.20x | 2.31x | NT$-90.80 Million |
| 2024 | 11.29% | 17.66% | 0.31x | 2.06x | NT$39.19 Million |
| 2025 | 8.91% | 18.78% | 0.23x | 2.03x | NT$-36.02 Million |
Industry Comparison
This section compares Hsin Kao 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: $4,078,536,200
- Average return on equity (ROE) among peers: 10.94%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hsin Kao Gas Co Ltd (9931) | NT$4.00 Billion | 4.43% | 0.91x | $128.94 Million |
| Shinhsiung Natural Gas (8908) | $2.02 Billion | 13.30% | 1.14x | $392.02 Million |
| Hsin Tai Gas Co Ltd (8917) | $2.41 Billion | 13.52% | 1.14x | $275.69 Million |
| Great Taipei Gas Corp (9908) | $9.37 Billion | 6.46% | 0.34x | $456.04 Million |
| Shin Shin Natural Gas Co Ltd (9918) | $3.31 Billion | 8.63% | 0.77x | $237.23 Million |
| Shin Hai Gas Corp (9926) | $3.28 Billion | 12.79% | 1.09x | $275.13 Million |
About Hsin Kao Gas Co Ltd
Hsin Kao Gas Co.,Ltd. engages in the installation of natural gas for supplying domestic and commercial fuels and related pipelines in Taiwan. It is involved in the residential building development, sale, and leasing, as well as international trade businesses. The company was founded in 1983 and is based in Kaohsiung, Taiwan.