Hi-Clearance
Hi-Clearance Inc. supplies medical devices for the renal, cardiac, radiation, dental, oral surgery, and metabolism markets in Taiwan. The company offers dialyzers, dialysis and RO machines, and related consumables and drugs; interventional cardiology and radiology, and vascular surgery devices; dental consumables, implant materials, and equipment; and blood glucose monitors, and related consumabl… Read more
Hi-Clearance (1788) - Net Assets
Latest net assets as of September 2025: NT$2.96 Billion TWD
Based on the latest financial reports, Hi-Clearance (1788) has net assets worth NT$2.96 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$4.99 Billion) and total liabilities (NT$2.03 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$2.96 Billion |
| % of Total Assets | 59.34% |
| Annual Growth Rate | 7.81% |
| 5-Year Change | 49.12% |
| 10-Year Change | N/A |
| Growth Volatility | 6.89 |
Hi-Clearance - Net Assets Trend (2015–2024)
This chart illustrates how Hi-Clearance's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Hi-Clearance (2015–2024)
The table below shows the annual net assets of Hi-Clearance from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.00 Billion | +0.61% |
| 2023-12-31 | NT$2.98 Billion | +22.31% |
| 2022-12-31 | NT$2.44 Billion | +5.89% |
| 2021-12-31 | NT$2.30 Billion | +14.44% |
| 2020-12-31 | NT$2.01 Billion | +12.82% |
| 2019-12-31 | NT$1.78 Billion | +8.74% |
| 2018-12-31 | NT$1.64 Billion | +0.98% |
| 2017-12-31 | NT$1.63 Billion | +4.30% |
| 2016-12-31 | NT$1.56 Billion | +2.10% |
| 2015-12-31 | NT$1.53 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hi-Clearance'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 92.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$992.32 Million | 33.06% |
| Other Components | NT$2.01 Billion | 66.94% |
| Total Equity | NT$3.00 Billion | 100.00% |
Hi-Clearance Competitors by Market Cap
The table below lists competitors of Hi-Clearance ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hua Eng Wire & Cable Co Ltd
TW:1608
|
$104.26 Million |
|
Pha Lai Thermal Power JSC
VN:PPC
|
$104.33 Million |
|
AK Sigorta AS
IS:AKGRT
|
$104.37 Million |
|
ACRES COM.RE.CORP.DL-001
F:R9L
|
$104.37 Million |
|
SB Financial Group Inc
NASDAQ:SBFG
|
$104.23 Million |
|
Shiyan Taixiang Industry Co. Ltd. A
SHE:301192
|
$104.16 Million |
|
Japan Cash Machine Co. Ltd
F:JCM
|
$104.14 Million |
|
Leadtek Research Inc
TW:2465
|
$104.11 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hi-Clearance's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,983,868,000 to 3,001,923,000, a change of 18,055,000 (0.6%).
- Net income of 359,688,000 contributed positively to equity growth.
- Dividend payments of 311,647,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$359.69 Million | +11.98% |
| Dividends Paid | NT$311.65 Million | -10.38% |
| Other Changes | NT$-29.99 Million | -1.0% |
| Total Change | NT$- | 0.61% |
Book Value vs Market Value Analysis
This analysis compares Hi-Clearance'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: 2.03x
- 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 2.96x to 2.03x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$46.23 | NT$137.00 | x |
| 2018-12-31 | NT$46.68 | NT$137.00 | x |
| 2019-12-31 | NT$45.80 | NT$137.00 | x |
| 2020-12-31 | NT$49.22 | NT$137.00 | x |
| 2021-12-31 | NT$56.19 | NT$137.00 | x |
| 2022-12-31 | NT$59.49 | NT$137.00 | x |
| 2023-12-31 | NT$67.02 | NT$137.00 | x |
| 2024-12-31 | NT$67.43 | NT$137.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hi-Clearance 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): 11.98%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.83%
- • Asset Turnover: 0.82x
- • Equity Multiplier: 1.65x
- Recent ROE (11.98%) is below the historical average (14.12%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 14.21% | 7.92% | 1.13x | 1.59x | NT$64.29 Million |
| 2016 | 13.35% | 7.33% | 1.15x | 1.59x | NT$52.03 Million |
| 2017 | 15.45% | 8.49% | 1.13x | 1.61x | NT$88.57 Million |
| 2018 | 14.84% | 7.87% | 1.04x | 1.81x | NT$79.35 Million |
| 2019 | 13.77% | 7.58% | 0.87x | 2.09x | NT$67.29 Million |
| 2020 | 15.76% | 9.25% | 0.82x | 2.09x | NT$115.98 Million |
| 2021 | 15.13% | 9.46% | 0.83x | 1.93x | NT$118.21 Million |
| 2022 | 15.02% | 7.81% | 1.04x | 1.85x | NT$122.48 Million |
| 2023 | 11.66% | 8.93% | 0.84x | 1.55x | NT$49.60 Million |
| 2024 | 11.98% | 8.83% | 0.82x | 1.65x | NT$59.50 Million |
Industry Comparison
This section compares Hi-Clearance's net assets metrics with peer companies in the Medical Devices industry.
Industry Context
- Industry: Medical Devices
- Average net assets among peers: $1,082,246,778
- Average return on equity (ROE) among peers: 5.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hi-Clearance (1788) | NT$2.96 Billion | 14.21% | 0.69x | $104.25 Million |
| Health & Life Co., Ltd. (1781) | $372.58 Million | -4.71% | 1.15x | $12.97 Million |
| Radiant Innovation (3373) | $865.89 Million | -3.30% | 0.08x | $18.65 Million |
| Wellell Inc (4106) | $1.31 Billion | 13.81% | 0.24x | $37.12 Million |
| Rossmax International Ltd (4121) | $1.33 Billion | 1.93% | 1.30x | $38.32 Million |
| United Orthopedic (4129) | $1.77 Billion | 7.55% | 0.46x | $300.33 Million |
| Dynamic Medical Technologies (4138) | $1.76 Billion | 11.67% | 0.71x | $39.41 Million |
| Ok Biotech Co Ltd (4155) | $1.30 Billion | 9.66% | 0.71x | $44.61 Million |
| Bioptik Technology (4161) | $717.83 Million | 6.76% | 1.11x | $30.42 Million |
| EPS Bio Technology Corp. (4183) | $309.15 Million | 10.25% | 0.77x | $4.27 Million |