TTFB Co Ltd (2729) - Net Assets
Based on the latest financial reports, TTFB Co Ltd (2729) has net assets worth NT$2.47 Billion TWD (≈ $77.72 Million 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$6.34 Billion ≈ $199.64 Million USD) and total liabilities (NT$3.87 Billion ≈ $121.92 Million 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 2729 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.47 Billion |
| % of Total Assets | 38.93% |
| Annual Growth Rate | 15.38% |
| 5-Year Change | 23.81% |
| 10-Year Change | 30.12% |
| Growth Volatility | 69.97 |
TTFB Co Ltd - Net Assets Trend (2010–2025)
This chart illustrates how TTFB Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 2729 total assets for the complete picture of this company's asset base.
Annual Net Assets for TTFB Co Ltd (2010–2025)
The table below shows the annual net assets of TTFB Co Ltd from 2010 to 2025. For live valuation and market cap data, see 2729 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.47 Billion ≈ $77.72 Million |
-4.85% |
| 2024-12-31 | NT$2.59 Billion ≈ $81.68 Million |
+0.04% |
| 2023-12-31 | NT$2.59 Billion ≈ $81.65 Million |
+19.17% |
| 2022-12-31 | NT$2.17 Billion ≈ $68.52 Million |
+9.15% |
| 2021-12-31 | NT$1.99 Billion ≈ $62.77 Million |
-7.95% |
| 2020-12-31 | NT$2.16 Billion ≈ $68.20 Million |
+1.98% |
| 2019-12-31 | NT$2.12 Billion ≈ $66.87 Million |
+5.79% |
| 2018-12-31 | NT$2.01 Billion ≈ $63.21 Million |
+2.82% |
| 2017-12-31 | NT$1.95 Billion ≈ $61.48 Million |
+2.93% |
| 2016-12-31 | NT$1.90 Billion ≈ $59.73 Million |
+3.31% |
| 2015-12-31 | NT$1.84 Billion ≈ $57.82 Million |
+2.34% |
| 2014-12-31 | NT$1.79 Billion ≈ $56.50 Million |
+3.29% |
| 2013-12-31 | NT$1.74 Billion ≈ $54.70 Million |
+2.51% |
| 2012-12-31 | NT$1.69 Billion ≈ $53.36 Million |
+281.67% |
| 2011-12-31 | NT$443.74 Million ≈ $13.98 Million |
+53.87% |
| 2010-12-31 | NT$288.39 Million ≈ $9.09 Million |
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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 1132.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$420.57 Million | 17.21% |
| Other Components | NT$2.02 Billion | 82.79% |
| Total Equity | NT$2.44 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 |
|---|---|
|
Kinnevik Investment AB ser. A
ST:KINV-A
|
$222.30 Million |
|
KOSKISEN OYJ EO 1
F:EZ8
|
$222.48 Million |
|
LVMC Holdings
KO:900140
|
$222.53 Million |
|
Sweeten Real Estate Development Co Ltd
TW:5525
|
$222.67 Million |
|
Acsion Ltd
JSE:ACS
|
$222.29 Million |
|
Paiho Shih Holdings Corp
TW:8404
|
$222.27 Million |
|
Metemtur Yatırım Enerji Turizm ve İnşaat A.Ş.
IS:METUR
|
$222.26 Million |
|
Brightcom Group Limited
NSE:BCG
|
$222.22 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 2024 to 2025, total equity changed from 2,565,879,000 to 2,443,625,000, a change of -122,254,000 (-4.8%).
- Net income of 289,312,000 contributed positively to equity growth.
- Dividend payments of 313,024,000 reduced retained earnings.
- Share repurchases of 83,575,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$289.31 Million | +11.84% |
| Dividends Paid | NT$313.02 Million | -12.81% |
| Share Repurchases | NT$83.58 Million | -3.42% |
| Other Changes | NT$-14.97 Million | -0.61% |
| Total Change | NT$- | -4.76% |
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: 2.89x
- 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 7.27x to 2.89x 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$165.50 | x |
| 2011-12-31 | NT$16.64 | NT$165.50 | x |
| 2012-12-31 | NT$57.62 | NT$165.50 | x |
| 2013-12-31 | NT$49.32 | NT$165.50 | x |
| 2014-12-31 | NT$50.94 | NT$165.50 | x |
| 2015-12-31 | NT$52.12 | NT$165.50 | x |
| 2016-12-31 | NT$53.47 | NT$165.50 | x |
| 2017-12-31 | NT$55.06 | NT$165.50 | x |
| 2018-12-31 | NT$56.62 | NT$165.50 | x |
| 2019-12-31 | NT$59.59 | NT$165.50 | x |
| 2020-12-31 | NT$55.07 | NT$165.50 | x |
| 2021-12-31 | NT$50.94 | NT$165.50 | x |
| 2022-12-31 | NT$61.86 | NT$165.50 | x |
| 2023-12-31 | NT$71.85 | NT$165.50 | x |
| 2024-12-31 | NT$59.56 | NT$165.50 | x |
| 2025-12-31 | NT$57.32 | NT$165.50 | 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): 11.84%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.74%
- • Asset Turnover: 0.96x
- • Equity Multiplier: 2.59x
- Recent ROE (11.84%) is below the historical average (17.04%), 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 |
| 2025 | 11.84% | 4.74% | 0.96x | 2.59x | NT$44.95 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: $2,930,176,556
- Average return on equity (ROE) among peers: 9.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TTFB Co Ltd (2729) | NT$2.47 Billion | 39.79% | 1.57x | $222.30 Million |
| An-Shin Food Services Co Ltd (1259) | $1.94 Billion | 8.25% | 1.40x | $58.78 Million |
| Hi-Lai Foods Co Ltd (1268) | $1.85 Billion | 7.03% | 2.40x | $206.19 Million |
| Gourmet Master Co Ltd (2723) | $10.22 Billion | 9.13% | 1.21x | $360.11 Million |
| Yummy Town Cayman Holdings (2726) | $532.09 Million | 13.64% | 1.54x | $12.71 Million |
| Wowprime Corp (2727) | $4.98 Billion | 25.92% | 2.27x | $591.28 Million |
| Mr. Onion (2740) | $162.26 Million | -40.06% | 0.99x | $18.54 Million |
| Tofu Restaurant Co Ltd (2752) | $1.38 Billion | 30.11% | 0.74x | $156.01 Million |
| Bafang Yunji Intl Co Ltd (2753) | $3.82 Billion | 15.78% | 0.76x | $372.69 Million |
| Kura Sushi Asia Co Ltd (2754) | $1.50 Billion | 16.11% | 1.91x | $101.59 Million |
About 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