TTFB Co Ltd
TTFB Company Limited engages in chain catering businesses in Taiwan, Shanghai, and Suzhou. The company operates a chain of restaurants, as well as involves in wholesale and retail of food and beverages; retails agricultural and aquatic products; and research and development, manufacture, and sale of automated equipment systems. It also engages in information software industry, and cleaning and en… Read more
TTFB Co Ltd (2729) - Net Assets
Latest net assets as of September 2025: NT$2.44 Billion TWD
Based on the latest financial reports, TTFB Co Ltd (2729) has net assets worth NT$2.44 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$5.86 Billion) and total liabilities (NT$3.42 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$2.44 Billion |
| % of Total Assets | 41.71% |
| Annual Growth Rate | 16.98% |
| 5-Year Change | 19.77% |
| 10-Year Change | 41.27% |
| Growth Volatility | 71.95 |
TTFB Co Ltd - Net Assets Trend (2010–2024)
This chart illustrates how TTFB 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 TTFB Co Ltd (2010–2024)
The table below shows the annual net assets of TTFB Co Ltd from 2010 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$2.59 Billion | +0.04% |
| 2023-12-31 | NT$2.59 Billion | +19.17% |
| 2022-12-31 | NT$2.17 Billion | +9.15% |
| 2021-12-31 | NT$1.99 Billion | -7.95% |
| 2020-12-31 | NT$2.16 Billion | +1.98% |
| 2019-12-31 | NT$2.12 Billion | +5.79% |
| 2018-12-31 | NT$2.01 Billion | +2.82% |
| 2017-12-31 | NT$1.95 Billion | +2.93% |
| 2016-12-31 | NT$1.90 Billion | +3.31% |
| 2015-12-31 | NT$1.84 Billion | +2.34% |
| 2014-12-31 | NT$1.79 Billion | +3.29% |
| 2013-12-31 | NT$1.74 Billion | +2.51% |
| 2012-12-31 | NT$1.69 Billion | +281.67% |
| 2011-12-31 | NT$443.74 Million | +53.87% |
| 2010-12-31 | NT$288.39 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TTFB 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 1383.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$506.34 Million | 19.73% |
| Other Components | NT$2.06 Billion | 80.27% |
| Total Equity | NT$2.57 Billion | 100.00% |
TTFB Co Ltd Competitors by Market Cap
The table below lists competitors of TTFB Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Iceland Seafood International hf.
IC:ICESEA
|
$78.24 Million |
|
COWINTECH Co. Ltd
KQ:282880
|
$78.26 Million |
|
Kukdo Chemical
KO:007690
|
$78.27 Million |
|
Ilshin Spinnin
KO:003200
|
$78.30 Million |
|
ChampionsGate Acquisition Corp
NASDAQ:CHPGU
|
$78.17 Million |
|
ADF Foods Limited
NSE:ADFFOODS
|
$78.16 Million |
|
FOCUSRITE PLC LS -001
F:0FO
|
$78.14 Million |
|
TS Corporation
KO:001790
|
$78.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TTFB Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,557,465,000 to 2,565,879,000, a change of 8,414,000 (0.3%).
- Net income of 352,630,000 contributed positively to equity growth.
- Dividend payments of 355,709,000 reduced retained earnings.
- Other comprehensive income decreased equity by 326,473,000.
- Other factors increased equity by 337,966,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$352.63 Million | +13.74% |
| Dividends Paid | NT$355.71 Million | -13.86% |
| Other Comprehensive Income | NT$-326.47 Million | -12.72% |
| Other Changes | NT$337.97 Million | +13.17% |
| Total Change | NT$- | 0.33% |
Book Value vs Market Value Analysis
This analysis compares TTFB 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: 2.90x
- 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 7.60x to 2.90x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | NT$22.77 | NT$173.00 | x |
| 2011-12-31 | NT$16.64 | NT$173.00 | x |
| 2012-12-31 | NT$57.62 | NT$173.00 | x |
| 2013-12-31 | NT$49.32 | NT$173.00 | x |
| 2014-12-31 | NT$50.94 | NT$173.00 | x |
| 2015-12-31 | NT$52.12 | NT$173.00 | x |
| 2016-12-31 | NT$53.47 | NT$173.00 | x |
| 2017-12-31 | NT$55.06 | NT$173.00 | x |
| 2018-12-31 | NT$56.62 | NT$173.00 | x |
| 2019-12-31 | NT$59.59 | NT$173.00 | x |
| 2020-12-31 | NT$55.07 | NT$173.00 | x |
| 2021-12-31 | NT$50.94 | NT$173.00 | x |
| 2022-12-31 | NT$61.86 | NT$173.00 | x |
| 2023-12-31 | NT$71.85 | NT$173.00 | x |
| 2024-12-31 | NT$59.56 | NT$173.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TTFB 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): 13.74%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.80%
- • Asset Turnover: 1.08x
- • Equity Multiplier: 2.20x
- Recent ROE (13.74%) is below the historical average (17.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 39.79% | 10.43% | 2.36x | 1.62x | NT$85.92 Million |
| 2011 | 37.45% | 10.86% | 2.17x | 1.59x | NT$121.83 Million |
| 2012 | 10.92% | 9.69% | 0.99x | 1.14x | NT$15.66 Million |
| 2013 | 14.08% | 10.59% | 1.12x | 1.19x | NT$70.76 Million |
| 2014 | 14.13% | 8.72% | 1.32x | 1.22x | NT$74.14 Million |
| 2015 | 15.21% | 8.09% | 1.51x | 1.25x | NT$95.69 Million |
| 2016 | 16.21% | 7.92% | 1.65x | 1.24x | NT$117.02 Million |
| 2017 | 16.95% | 8.00% | 1.71x | 1.24x | NT$134.69 Million |
| 2018 | 17.70% | 8.21% | 1.68x | 1.28x | NT$153.48 Million |
| 2019 | 17.08% | 7.36% | 0.83x | 2.78x | NT$149.58 Million |
| 2020 | 17.08% | 8.02% | 0.81x | 2.62x | NT$153.33 Million |
| 2021 | 8.09% | 3.81% | 0.79x | 2.68x | NT$-38.14 Million |
| 2022 | 5.09% | 2.44% | 1.04x | 2.00x | NT$-106.73 Million |
| 2023 | 17.21% | 7.69% | 1.08x | 2.07x | NT$184.33 Million |
| 2024 | 13.74% | 5.80% | 1.08x | 2.20x | NT$96.04 Million |
Industry Comparison
This section compares TTFB Co Ltd's net assets metrics with peer companies in the Restaurants industry.
Industry Context
- Industry: Restaurants
- Average net assets among peers: $2,440,891,444
- Average return on equity (ROE) among peers: 1.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TTFB Co Ltd (2729) | NT$2.44 Billion | 39.79% | 1.40x | $78.23 Million |
| An-Shin Food Services Co Ltd (1259) | $2.50 Billion | 2.65% | 1.56x | $16.35 Million |
| Hi-Lai Foods Co Ltd (1268) | $1.85 Billion | 7.03% | 2.40x | $46.94 Million |
| Kanpai Co., Ltd (1269) | $256.49 Million | 12.45% | 0.95x | $15.68 Million |
| Gourmet Master Co Ltd (2723) | $10.96 Billion | 6.90% | 0.77x | $189.47 Million |
| Yummy Town Cayman Holdings (2726) | $712.44 Million | 14.47% | 0.94x | $3.14 Million |
| Wowprime Corp (2727) | $4.47 Billion | 7.73% | 1.12x | $480.84 Million |
| Mr. Onion (2740) | $86.74 Million | -68.40% | 0.94x | $4.60 Million |
| Renjie Oldsichuan Catering Management Consultant Co., Ltd. (2741) | $675.64 Million | 13.76% | 0.78x | $7.12 Million |
| KINGZA International CO.,Ltd. (2751) | $455.88 Million | 17.78% | 1.00x | $11.15 Million |