RAC Electric Vehicles Inc.
RAC Electric Vehicles Inc., together with its subsidiaries, develops, manufactures, and sells electric commercial vehicles in Taiwan and internationally. The company offers electric buses. It also engages in the manufacture and wholesale of batteries; manufacture and retail of automobile and motorcycle parts; and manufacture and sale of public transportation domestic bus dynamic information manag… Read more
RAC Electric Vehicles Inc. (2237) - Net Assets
Latest net assets as of June 2025: NT$1.09 Billion TWD
Based on the latest financial reports, RAC Electric Vehicles Inc. (2237) has net assets worth NT$1.09 Billion TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$2.81 Billion) and total liabilities (NT$1.72 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$1.09 Billion |
| % of Total Assets | 38.8% |
| Annual Growth Rate | 22.36% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 57.0 |
RAC Electric Vehicles Inc. - Net Assets Trend (2020–2024)
This chart illustrates how RAC Electric Vehicles Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for RAC Electric Vehicles Inc. (2020–2024)
The table below shows the annual net assets of RAC Electric Vehicles Inc. from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.07 Billion | +98.96% |
| 2023-12-31 | NT$537.94 Million | -23.41% |
| 2022-12-31 | NT$702.36 Million | -20.24% |
| 2021-12-31 | NT$880.54 Million | +84.44% |
| 2020-12-31 | NT$477.42 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to RAC Electric Vehicles Inc.'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 decreased by 15000900000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$1.21 Billion | 113.60% |
| Other Comprehensive Income | NT$-11.42 Million | -1.07% |
| Other Components | NT$517.86 Million | 48.69% |
| Total Equity | NT$1.06 Billion | 100.00% |
RAC Electric Vehicles Inc. Competitors by Market Cap
The table below lists competitors of RAC Electric Vehicles Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GlobalTech Corporation
PINK:GLTK
|
$28.81 Million |
|
AHES GMYO
IS:AHSGY
|
$28.82 Million |
|
Demisas Dokum Emaye Mamulleri Sanayi AS
IS:DMSAS
|
$28.83 Million |
|
Energy Solar Tech S.L.
MC:ETC
|
$28.84 Million |
|
Lee Enterprises Incorporated
NASDAQ:LEE
|
$28.81 Million |
|
ROCHE BOBOIS S.A. EO5
F:5RO
|
$28.81 Million |
|
Mineralbrunnen Überkingen-Teinach GmbH & Co. KGaA
F:MUT3
|
$28.81 Million |
|
Millennial Potash Corp.
OTCQB:MLPNF
|
$28.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RAC Electric Vehicles Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 528,332,000 to 1,063,625,000, a change of 535,293,000 (101.3%).
- Net loss of 200,226,000 reduced equity.
- New share issuances of 720,000,000 increased equity.
- Other comprehensive income increased equity by 17,259,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-200.23 Million | -18.82% |
| Share Issuances | NT$720.00 Million | +67.69% |
| Other Comprehensive Income | NT$17.26 Million | +1.62% |
| Other Changes | NT$-1.74 Million | -0.16% |
| Total Change | NT$- | 101.32% |
Book Value vs Market Value Analysis
This analysis compares RAC Electric Vehicles Inc.'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: 3.34x
- 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 4.86x to 3.34x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | NT$6.28 | NT$30.50 | x |
| 2021-12-31 | NT$9.81 | NT$30.50 | x |
| 2022-12-31 | NT$6.91 | NT$30.50 | x |
| 2023-12-31 | NT$5.29 | NT$30.50 | x |
| 2024-12-31 | NT$9.13 | NT$30.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RAC Electric Vehicles Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -18.82%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.55%
- • Asset Turnover: 0.50x
- • Equity Multiplier: 2.42x
- Recent ROE (-18.82%) is above the historical average (-24.54%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -32.25% | -45.11% | 0.43x | 1.68x | NT$-201.72 Million |
| 2021 | -15.68% | -43.01% | 0.20x | 1.85x | NT$-226.08 Million |
| 2022 | -26.76% | -20.29% | 0.43x | 3.04x | NT$-253.50 Million |
| 2023 | -29.18% | -8.11% | 0.75x | 4.78x | NT$-207.00 Million |
| 2024 | -18.82% | -15.55% | 0.50x | 2.42x | NT$-306.59 Million |
Industry Comparison
This section compares RAC Electric Vehicles Inc.'s net assets metrics with peer companies in the Auto Manufacturers industry.
Industry Context
- Industry: Auto Manufacturers
- Average net assets among peers: $26,080,010,000
- Average return on equity (ROE) among peers: 3.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RAC Electric Vehicles Inc. (2237) | NT$1.09 Billion | -32.25% | 1.58x | $28.81 Million |
| China Motor Corp (2204) | $51.40 Billion | 4.98% | 0.20x | $413.67 Million |
| Sanyang Motor Co Ltd (2206) | $16.31 Billion | 0.20% | 1.30x | $840.87 Million |
| Yulon Nissan Motor Co Ltd (2227) | $19.56 Billion | 19.59% | 0.26x | $44.73 Million |
| 2258 (2258) | $17.05 Billion | -12.54% | 0.21x | $9.44K |