Munsin Garment (2916) - Net Assets
Based on the latest financial reports, Munsin Garment (2916) has net assets worth NT$1.53 Billion TWD (≈ $48.11 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$2.13 Billion ≈ $67.21 Million USD) and total liabilities (NT$606.48 Million ≈ $19.11 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 asset resilience ratio of Munsin Garment to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.53 Billion |
| % of Total Assets | 71.57% |
| Annual Growth Rate | 8.62% |
| 5-Year Change | 71.4% |
| 10-Year Change | N/A |
| Growth Volatility | 13.35 |
Munsin Garment - Net Assets Trend (2017–2024)
This chart illustrates how Munsin Garment's net assets have evolved over time, based on quarterly financial data. Also explore how large is Munsin Garment's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for Munsin Garment (2017–2024)
The table below shows the annual net assets of Munsin Garment from 2017 to 2024. For live valuation and market cap data, see 2916 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.61 Billion ≈ $50.68 Million |
+41.35% |
| 2023-12-31 | NT$1.14 Billion ≈ $35.85 Million |
+7.87% |
| 2022-12-31 | NT$1.05 Billion ≈ $33.24 Million |
+6.31% |
| 2021-12-31 | NT$992.33 Million ≈ $31.26 Million |
+5.73% |
| 2020-12-31 | NT$938.51 Million ≈ $29.57 Million |
+3.14% |
| 2019-12-31 | NT$909.98 Million ≈ $28.67 Million |
-0.64% |
| 2018-12-31 | NT$915.83 Million ≈ $28.85 Million |
+1.54% |
| 2017-12-31 | NT$901.93 Million ≈ $28.42 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Munsin Garment'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 18.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$279.19 Million | 17.36% |
| Other Components | NT$1.33 Billion | 82.64% |
| Total Equity | NT$1.61 Billion | 100.00% |
Munsin Garment Competitors by Market Cap
The table below lists competitors of Munsin Garment ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Insumos Agroquimicos SA
BA:INAG
|
$92.44 Million |
|
Korea Flange
KO:010100
|
$92.45 Million |
|
Fullerton Technology Co Ltd
TW:6136
|
$92.46 Million |
|
Ekopak BV
BR:EKOP
|
$92.49 Million |
|
Intech Biopharm Ltd
TWO:6461
|
$92.41 Million |
|
Y-Entec Co. Ltd
KQ:067900
|
$92.38 Million |
|
Hainan Airlines Co Ltd B
SHG:900945
|
$92.36 Million |
|
Raisio Oyj
HE:RAIKV
|
$92.27 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Munsin Garment's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,138,004,000 to 1,608,624,000, a change of 470,620,000 (41.4%).
- Net income of 248,074,000 contributed positively to equity growth.
- Dividend payments of 218,507,000 reduced retained earnings.
- New share issuances of 418,950,000 increased equity.
- Other factors increased equity by 22,103,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$248.07 Million | +15.42% |
| Dividends Paid | NT$218.51 Million | -13.58% |
| Share Issuances | NT$418.95 Million | +26.04% |
| Other Changes | NT$22.10 Million | +1.37% |
| Total Change | NT$- | 41.35% |
Book Value vs Market Value Analysis
This analysis compares Munsin Garment'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: 1.82x
- 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 2.75x to 1.82x 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$16.51 | NT$45.40 | x |
| 2018-12-31 | NT$16.77 | NT$45.40 | x |
| 2019-12-31 | NT$16.66 | NT$45.40 | x |
| 2020-12-31 | NT$17.10 | NT$45.40 | x |
| 2021-12-31 | NT$18.07 | NT$45.40 | x |
| 2022-12-31 | NT$19.19 | NT$45.40 | x |
| 2023-12-31 | NT$20.74 | NT$45.40 | x |
| 2024-12-31 | NT$24.89 | NT$45.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Munsin Garment utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.42%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.92%
- • Asset Turnover: 0.92x
- • Equity Multiplier: 1.30x
- Recent ROE (15.42%) is above the historical average (12.92%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 8.01% | 5.57% | 1.09x | 1.32x | NT$-17.93 Million |
| 2018 | 9.10% | 6.37% | 1.04x | 1.38x | NT$-8.27 Million |
| 2019 | 8.41% | 5.60% | 1.08x | 1.39x | NT$-14.45 Million |
| 2020 | 9.39% | 6.41% | 1.15x | 1.27x | NT$-5.69 Million |
| 2021 | 13.87% | 10.16% | 1.04x | 1.31x | NT$38.40 Million |
| 2022 | 17.04% | 11.41% | 1.13x | 1.33x | NT$74.23 Million |
| 2023 | 22.15% | 13.71% | 1.15x | 1.41x | NT$138.24 Million |
| 2024 | 15.42% | 12.92% | 0.92x | 1.30x | NT$87.21 Million |
Industry Comparison
This section compares Munsin Garment's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $2,286,016,000
- Average return on equity (ROE) among peers: 12.40%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Munsin Garment (2916) | NT$1.53 Billion | 8.01% | 0.40x | $92.44 Million |
| Tah Hsin Industrial Corp (1315) | $5.29 Billion | 5.23% | 0.35x | $187.50 Million |
| Tex-Ray Industrial Co Ltd (1467) | $2.10 Billion | 4.01% | 1.25x | $52.41 Million |
| Tainan Enterprises Co Ltd (1473) | $2.40 Billion | 17.76% | 0.57x | $97.85 Million |
| Eclat Textile Co Ltd (1476) | $2.81 Billion | 6.84% | 0.82x | $2.89 Billion |
| Makalot Industrial Co Ltd (1477) | $1.74 Billion | 30.73% | 0.85x | $1.64 Billion |
| Cayman Tung Ling Co Ltd (2924) | $772.41 Million | 1.80% | 0.67x | $35.33 Million |
| TOPBI International Holdings Ltd (2929) | $3.53 Billion | 23.72% | 0.58x | $19.21 Million |
| Roo Hsing Co Ltd (4414) | $677.43 Million | 7.75% | 2.96x | $83.94 Million |
| Hakers Enterprise Co Ltd (4432) | $1.26 Billion | 13.71% | 0.22x | $22.79 Million |
About Munsin Garment
Munsin Garment Corporation manufactures and trades in various ready-made garments, knitwear, and fabrics in Taiwan. The company offers golf, sports, fashion, and retro nostalgia apparel, casual wear, club bags, protective accessories, clothing, sneakers, feminine style clothing, urban sportswear, fashionable outfits, trousers, female office wear, unique style clothing, modern fashion apparel, and… Read more