National Petroleum Co Ltd
National Petroleum Co., Ltd. engages in the gas stations business in Taiwan. The company sells gasoline, lubricant, and diesel fuel. It offers car wash services. National Petroleum Co., Ltd. was founded in 1977 and is based in Taipei City, Taiwan.
National Petroleum Co Ltd (9937) - Net Assets
Latest net assets as of September 2025: NT$5.66 Billion TWD
Based on the latest financial reports, National Petroleum Co Ltd (9937) has net assets worth NT$5.66 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$11.98 Billion) and total liabilities (NT$6.32 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$5.66 Billion |
| % of Total Assets | 47.25% |
| Annual Growth Rate | 2.55% |
| 5-Year Change | 8.86% |
| 10-Year Change | 29.52% |
| Growth Volatility | 9.07 |
National Petroleum Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how National Petroleum 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 National Petroleum Co Ltd (2000–2024)
The table below shows the annual net assets of National Petroleum Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$5.70 Billion | +2.75% |
| 2023-12-31 | NT$5.55 Billion | +3.65% |
| 2022-12-31 | NT$5.35 Billion | -0.20% |
| 2021-12-31 | NT$5.36 Billion | +2.42% |
| 2020-12-31 | NT$5.23 Billion | +5.31% |
| 2019-12-31 | NT$4.97 Billion | +3.37% |
| 2018-12-31 | NT$4.81 Billion | +1.80% |
| 2017-12-31 | NT$4.72 Billion | +0.71% |
| 2016-12-31 | NT$4.69 Billion | +6.62% |
| 2015-12-31 | NT$4.40 Billion | +3.18% |
| 2014-12-31 | NT$4.26 Billion | -2.32% |
| 2013-12-31 | NT$4.36 Billion | -2.07% |
| 2012-12-31 | NT$4.46 Billion | -9.58% |
| 2011-12-31 | NT$4.93 Billion | -13.51% |
| 2010-12-31 | NT$5.70 Billion | +38.13% |
| 2009-12-31 | NT$4.13 Billion | +5.00% |
| 2008-12-31 | NT$3.93 Billion | -5.43% |
| 2007-12-31 | NT$4.16 Billion | -0.71% |
| 2006-12-31 | NT$4.19 Billion | +9.64% |
| 2005-12-31 | NT$3.82 Billion | -0.02% |
| 2004-12-31 | NT$3.82 Billion | +7.20% |
| 2003-12-31 | NT$3.56 Billion | -0.28% |
| 2002-12-31 | NT$3.57 Billion | +9.60% |
| 2001-12-31 | NT$3.26 Billion | +4.79% |
| 2000-12-31 | NT$3.11 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to National Petroleum 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 686.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.15 Billion | 20.16% |
| Common Stock | NT$3.09 Billion | 54.24% |
| Other Comprehensive Income | NT$-1.71 Million | -0.03% |
| Other Components | NT$1.46 Billion | 25.63% |
| Total Equity | NT$5.70 Billion | 100.00% |
National Petroleum Co Ltd Competitors by Market Cap
The table below lists competitors of National Petroleum Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
UmweltBank AG
XETRA:UBK
|
$124.68 Million |
|
FFB Bancorp
OTCQX:FFBB
|
$124.74 Million |
|
TPI Polene Power Public Company Limited
BK:TPIPP
|
$124.77 Million |
|
Don Muang Tollway Public Company Limited
BK:DMT
|
$124.78 Million |
|
TBI Motion Technology Co Ltd
TW:4540
|
$124.66 Million |
|
Espey Mfg & Electronics Corp
NYSE MKT:ESP
|
$124.64 Million |
|
Jikai Equipment Manufacturing Co Ltd
SHE:002691
|
$124.64 Million |
|
YFC-BonEagle Electric Co Ltd
TWO:6220
|
$124.57 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in National Petroleum Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,545,168,000 to 5,697,396,000, a change of 152,228,000 (2.7%).
- Net income of 738,095,000 contributed positively to equity growth.
- Dividend payments of 648,990,000 reduced retained earnings.
- Other comprehensive income decreased equity by 1,420,651,999.
- Other factors increased equity by 1,483,774,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$738.10 Million | +12.95% |
| Dividends Paid | NT$648.99 Million | -11.39% |
| Other Comprehensive Income | NT$-1.42 Billion | -24.94% |
| Other Changes | NT$1.48 Billion | +26.04% |
| Total Change | NT$- | 2.75% |
Book Value vs Market Value Analysis
This analysis compares National Petroleum 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: 3.10x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 4.20x to 3.10x 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$13.54 | NT$56.90 | x |
| 2007-12-31 | NT$13.45 | NT$56.90 | x |
| 2008-12-31 | NT$12.73 | NT$56.90 | x |
| 2009-12-31 | NT$13.32 | NT$56.90 | x |
| 2010-12-31 | NT$18.44 | NT$56.90 | x |
| 2011-12-31 | NT$15.96 | NT$56.90 | x |
| 2012-12-31 | NT$14.42 | NT$56.90 | x |
| 2013-12-31 | NT$14.12 | NT$56.90 | x |
| 2014-12-31 | NT$13.80 | NT$56.90 | x |
| 2015-12-31 | NT$14.16 | NT$56.90 | x |
| 2016-12-31 | NT$15.09 | NT$56.90 | x |
| 2017-12-31 | NT$15.18 | NT$56.90 | x |
| 2018-12-31 | NT$15.48 | NT$56.90 | x |
| 2019-12-31 | NT$16.00 | NT$56.90 | x |
| 2020-12-31 | NT$16.80 | NT$56.90 | x |
| 2021-12-31 | NT$17.19 | NT$56.90 | x |
| 2022-12-31 | NT$17.25 | NT$56.90 | x |
| 2023-12-31 | NT$17.89 | NT$56.90 | x |
| 2024-12-31 | NT$18.36 | NT$56.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently National Petroleum Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.95%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.07%
- • Asset Turnover: 1.93x
- • Equity Multiplier: 2.19x
- Recent ROE (12.95%) is below the historical average (13.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 4.55% | 1.97% | 1.27x | 1.81x | NT$-169.61 Million |
| 2001 | 7.67% | 2.70% | 1.67x | 1.70x | NT$-75.96 Million |
| 2002 | 14.51% | 4.36% | 1.72x | 1.94x | NT$161.00 Million |
| 2003 | 13.84% | 3.69% | 1.91x | 1.96x | NT$136.70 Million |
| 2004 | 13.24% | 3.22% | 1.87x | 2.20x | NT$123.79 Million |
| 2005 | 11.86% | 2.56% | 1.89x | 2.45x | NT$70.73 Million |
| 2006 | 16.46% | 3.25% | 2.28x | 2.22x | NT$270.53 Million |
| 2007 | 15.47% | 3.04% | 2.17x | 2.35x | NT$227.16 Million |
| 2008 | 9.82% | 2.15% | 2.20x | 2.07x | NT$-7.05 Million |
| 2009 | 10.81% | 2.05% | 2.30x | 2.29x | NT$33.43 Million |
| 2010 | 36.28% | 7.44% | 2.49x | 1.95x | NT$1.50 Billion |
| 2011 | 9.46% | 1.48% | 2.94x | 2.17x | NT$-26.63 Million |
| 2012 | 9.28% | 1.33% | 3.11x | 2.25x | NT$-31.89 Million |
| 2013 | 8.59% | 1.23% | 3.53x | 1.98x | NT$-61.46 Million |
| 2014 | 7.72% | 1.16% | 3.54x | 1.87x | NT$-97.32 Million |
| 2015 | 11.20% | 2.40% | 2.67x | 1.75x | NT$52.95 Million |
| 2016 | 15.05% | 3.91% | 2.34x | 1.65x | NT$236.88 Million |
| 2017 | 14.55% | 3.48% | 2.26x | 1.85x | NT$215.07 Million |
| 2018 | 15.30% | 3.23% | 2.27x | 2.08x | NT$254.68 Million |
| 2019 | 14.84% | 3.22% | 1.73x | 2.66x | NT$240.65 Million |
| 2020 | 15.22% | 4.32% | 1.50x | 2.35x | NT$271.98 Million |
| 2021 | 15.20% | 3.82% | 1.66x | 2.40x | NT$277.33 Million |
| 2022 | 13.55% | 3.00% | 1.97x | 2.30x | NT$189.84 Million |
| 2023 | 14.12% | 3.19% | 1.98x | 2.24x | NT$228.43 Million |
| 2024 | 12.95% | 3.07% | 1.93x | 2.19x | NT$168.36 Million |
Industry Comparison
This section compares National Petroleum Co Ltd's net assets metrics with peer companies in the Specialty Retail industry.
Industry Context
- Industry: Specialty Retail
- Average net assets among peers: $6,911,801,000
- Average return on equity (ROE) among peers: 12.49%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| National Petroleum Co Ltd (9937) | NT$5.66 Billion | 4.55% | 1.12x | $124.67 Million |
| Tsann Kuen Enterprise Co Ltd (2430) | $4.72 Billion | 4.73% | 0.96x | $32.65 Million |
| Shan-Loong Transportation Co Ltd (2616) | $2.88 Billion | 7.37% | 0.95x | $46.17 Million |
| Gseven Co Ltd (2937) | $415.06 Million | 9.40% | 1.38x | $17.88 Million |
| Zhen Yu Hardware Co., Ltd. (2947) | $735.63 Million | 6.08% | 3.07x | $21.12 Million |
| Taiwan Mobile Co Ltd (3045) | $50.81 Billion | 28.92% | 0.82x | $4.88 Billion |
| Scan-D (6195) | $1.37 Billion | 19.67% | 1.19x | $19.23 Million |
| E-Life Mall Corp (6281) | $1.39 Billion | 22.75% | 1.28x | $111.02 Million |
| Afastor Corporation (6707) | $853.44 Million | 7.12% | 4.70x | $7.43K |
| Bon Fame Co Ltd (8433) | $1.34 Billion | 16.02% | 1.00x | $39.80 Million |
| North-Star International Co Ltd (8927) | $4.60 Billion | 2.86% | 2.63x | $152.61 Million |