Yulon Finance Corp (9941) - Net Assets

Latest as of December 2025: NT$40.92 Billion TWD ≈ $1.29 Billion USD

Based on the latest financial reports, Yulon Finance Corp (9941) has net assets worth NT$40.92 Billion TWD (≈ $1.29 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$284.60 Billion ≈ $8.97 Billion USD) and total liabilities (NT$243.68 Billion ≈ $7.68 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 9941 asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	NT$40.92 Billion
% of Total Assets	14.38%
Annual Growth Rate	11.3%
5-Year Change	60.29%
10-Year Change	244.06%
Growth Volatility	11.52

Yulon Finance Corp - Net Assets Trend (2003–2025)

This chart illustrates how Yulon Finance Corp's net assets have evolved over time, based on quarterly financial data. Also explore Yulon Finance Corp asset portfolio for the complete picture of this company's asset base.

Annual Net Assets for Yulon Finance Corp (2003–2025)

The table below shows the annual net assets of Yulon Finance Corp from 2003 to 2025. For live valuation and market cap data, see Yulon Finance Corp (9941) total market value.

Year	Net Assets	Change
2025-12-31	NT$40.92 Billion ≈ $1.29 Billion	+4.37%
2024-12-31	NT$39.21 Billion ≈ $1.24 Billion	-0.59%
2023-12-31	NT$39.44 Billion ≈ $1.24 Billion	+9.77%
2022-12-31	NT$35.93 Billion ≈ $1.13 Billion	+40.74%
2021-12-31	NT$25.53 Billion ≈ $804.33 Million	+15.58%
2020-12-31	NT$22.09 Billion ≈ $695.90 Million	+6.83%
2019-12-31	NT$20.68 Billion ≈ $651.43 Million	+3.84%
2018-12-31	NT$19.91 Billion ≈ $627.33 Million	+42.16%
2017-12-31	NT$14.01 Billion ≈ $441.28 Million	+17.77%
2016-12-31	NT$11.89 Billion ≈ $374.71 Million	+4.03%
2015-12-31	NT$11.43 Billion ≈ $360.19 Million	+18.44%
2014-12-31	NT$9.65 Billion ≈ $304.10 Million	+14.60%
2013-12-31	NT$8.42 Billion ≈ $265.37 Million	+23.62%
2012-12-31	NT$6.81 Billion ≈ $214.67 Million	+14.79%
2011-12-31	NT$5.94 Billion ≈ $187.01 Million	+7.65%
2010-12-31	NT$5.51 Billion ≈ $173.71 Million	+12.59%
2009-12-31	NT$4.90 Billion ≈ $154.29 Million	+7.93%
2008-12-31	NT$4.54 Billion ≈ $142.95 Million	-2.59%
2007-12-31	NT$4.66 Billion ≈ $146.76 Million	+3.64%
2006-12-31	NT$4.49 Billion ≈ $141.61 Million	-3.30%
2005-12-31	NT$4.65 Billion ≈ $146.44 Million	+10.06%
2004-12-31	NT$4.22 Billion ≈ $133.05 Million	+8.79%
2003-12-31	NT$3.88 Billion ≈ $122.30 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Yulon Finance 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 1454.7% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	NT$14.55 Billion	35.92%
Common Stock	NT$5.76 Billion	14.21%
Other Comprehensive Income	NT$5.40 Billion	13.32%
Other Components	NT$14.81 Billion	36.56%
Total Equity	NT$40.52 Billion	100.00%

Yulon Finance Corp Competitors by Market Cap

The table below lists competitors of Yulon Finance Corp ranked by their market capitalization.

Company	Market Cap
Xior Student Housing NV BR:XIOR	$1.40 Billion
Central Plaza Hotel Public Company Limited BK:CENTEL-R	$1.40 Billion
Clearway Energy Inc NYSE:CWEN-A	$1.40 Billion
Woori Technology Inc KQ:032820	$1.40 Billion
Reit 1 TA:RIT1	$1.40 Billion
OSK Holdings Bhd KLSE:5053	$1.40 Billion
SHANGHAI FU. MIC.H YC-10 F:FUD	$1.40 Billion
Ennoconn Corp TW:6414	$1.40 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Yulon Finance Corp's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 38,664,929,000 to 40,522,983,000, a change of 1,858,054,000 (4.8%).
Net income of 4,578,748,000 contributed positively to equity growth.
Dividend payments of 2,635,164,000 reduced retained earnings.
Other comprehensive income increased equity by 5,422,838,000.
Other factors decreased equity by 5,508,368,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	NT$4.58 Billion	+11.3%
Dividends Paid	NT$2.64 Billion	-6.5%
Other Comprehensive Income	NT$5.42 Billion	+13.38%
Other Changes	NT$-5.51 Billion	-13.59%
Total Change	NT$-	4.81%

Book Value vs Market Value Analysis

This analysis compares Yulon Finance 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: 1.13x
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 8.33x to 1.13x 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$9.25	NT$77.10	x
2007-12-31	NT$9.53	NT$77.10	x
2008-12-31	NT$9.66	NT$77.10	x
2009-12-31	NT$10.37	NT$77.10	x
2010-12-31	NT$11.28	NT$77.10	x
2011-12-31	NT$12.16	NT$77.10	x
2012-12-31	NT$13.04	NT$77.10	x
2013-12-31	NT$15.39	NT$77.10	x
2014-12-31	NT$17.60	NT$77.10	x
2015-12-31	NT$18.26	NT$77.10	x
2016-12-31	NT$19.24	NT$77.10	x
2017-12-31	NT$21.05	NT$77.10	x
2018-12-31	NT$32.68	NT$77.10	x
2019-12-31	NT$35.28	NT$77.10	x
2020-12-31	NT$38.67	NT$77.10	x
2021-12-31	NT$45.39	NT$77.10	x
2022-12-31	NT$64.88	NT$77.10	x
2023-12-31	NT$66.36	NT$77.10	x
2024-12-31	NT$65.60	NT$77.10	x
2025-12-31	NT$67.97	NT$77.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Yulon Finance 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): 11.30%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 11.58%
• Asset Turnover: 0.14x
• Equity Multiplier: 7.02x
Recent ROE (11.30%) is below the historical average (16.50%), 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	16.22%	24.40%	0.13x	4.98x	NT$241.48 Million
2004	18.90%	30.48%	0.11x	5.42x	NT$375.65 Million
2005	15.30%	11.02%	0.19x	7.41x	NT$222.58 Million
2006	9.33%	7.95%	0.16x	7.21x	NT$-26.62 Million
2007	11.76%	10.07%	0.17x	6.70x	NT$72.40 Million
2008	11.31%	9.66%	0.18x	6.63x	NT$54.89 Million
2009	15.93%	11.61%	0.21x	6.55x	NT$266.96 Million
2010	21.86%	15.71%	0.18x	7.79x	NT$580.55 Million
2011	18.65%	11.91%	0.16x	9.63x	NT$455.46 Million
2012	19.10%	8.96%	0.22x	9.88x	NT$554.64 Million
2013	17.70%	10.12%	0.20x	8.95x	NT$593.49 Million
2014	17.13%	10.23%	0.17x	9.63x	NT$630.23 Million
2015	15.51%	9.29%	0.16x	10.74x	NT$506.01 Million
2016	17.88%	10.92%	0.14x	11.49x	NT$763.67 Million
2017	21.92%	13.45%	0.13x	12.86x	NT$1.26 Billion
2018	15.71%	11.84%	0.13x	10.37x	NT$941.09 Million
2019	16.85%	20.21%	0.07x	11.40x	NT$1.20 Billion
2020	16.30%	21.87%	0.07x	10.52x	NT$1.21 Billion
2021	22.79%	35.08%	0.06x	10.27x	NT$2.89 Billion
2022	17.49%	38.61%	0.05x	8.25x	NT$2.49 Billion
2023	17.25%	36.78%	0.06x	8.24x	NT$2.64 Billion
2024	13.20%	26.36%	0.07x	7.51x	NT$1.24 Billion
2025	11.30%	11.58%	0.14x	7.02x	NT$526.45 Million

Industry Comparison

This section compares Yulon Finance Corp's net assets metrics with peer companies in the Credit Services industry.

Industry Context

Industry: Credit Services
Average net assets among peers: $33,500,953,500
Average return on equity (ROE) among peers: 14.89%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Yulon Finance Corp (9941)	NT$40.92 Billion	16.22%	5.96x	$1.40 Billion
Chailease Holding Co Ltd (5871)	$41.51 Billion	17.45%	5.89x	$6.23 Billion
Hotai Finance Corp (6592)	$25.49 Billion	12.32%	6.91x	$1.20 Billion

About Yulon Finance Corp

TW:9941 Taiwan Credit Services

Market Cap

$1.40 Billion

NT$44.38 Billion TWD

Market Cap Rank

#7664 Global

#228 in Taiwan

Share Price

NT$77.10

Change (1 day)

-2.16%

52-Week Range

NT$71.90 - NT$116.00

All Time High

NT$245.88