Topower Co Ltd (3226) - Net Assets
Based on the latest financial reports, Topower Co Ltd (3226) has net assets worth NT$1.88 Billion TWD (≈ $59.25 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$2.48 Billion ≈ $78.10 Million USD) and total liabilities (NT$598.33 Million ≈ $18.85 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. Also explore 3226 total assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.88 Billion |
| % of Total Assets | 75.86% |
| Annual Growth Rate | 9.13% |
| 5-Year Change | 43.51% |
| 10-Year Change | N/A |
| Growth Volatility | 7.0 |
Topower Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how Topower Co Ltd's net assets have evolved over time, based on quarterly financial data. Check 3226 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Topower Co Ltd (2017–2025)
The table below shows the annual net assets of Topower Co Ltd from 2017 to 2025. For live valuation and market cap data, see 3226 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.88 Billion ≈ $59.25 Million |
-0.83% |
| 2024-12-31 | NT$1.90 Billion ≈ $59.74 Million |
+20.82% |
| 2023-12-31 | NT$1.57 Billion ≈ $49.45 Million |
+6.75% |
| 2022-12-31 | NT$1.47 Billion ≈ $46.32 Million |
+12.21% |
| 2021-12-31 | NT$1.31 Billion ≈ $41.28 Million |
+0.38% |
| 2020-12-31 | NT$1.31 Billion ≈ $41.13 Million |
+11.09% |
| 2019-12-31 | NT$1.18 Billion ≈ $37.02 Million |
+7.57% |
| 2018-12-31 | NT$1.09 Billion ≈ $34.42 Million |
+16.81% |
| 2017-12-31 | NT$935.14 Million ≈ $29.46 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Topower 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 247.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$962.22 Million | 51.17% |
| Other Components | NT$918.30 Million | 48.83% |
| Total Equity | NT$1.88 Billion | 100.00% |
Topower Co Ltd Competitors by Market Cap
The table below lists competitors of Topower Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Feng Ching Metal
TWO:2061
|
$100.33 Million |
|
Suprema HQ Inc
KQ:094840
|
$100.35 Million |
|
Kjell Group AB
ST:KJELL
|
$100.35 Million |
|
Sound Financial Bancorp Inc
NASDAQ:SFBC
|
$100.38 Million |
|
Balyo SA
PA:BALYO
|
$100.24 Million |
|
New Asia Construction & Development Corp
TW:2516
|
$100.16 Million |
|
Bhageria Industries Limited
NSE:BHAGERIA
|
$100.15 Million |
|
WiSoL CO.LTD
KQ:122990
|
$100.14 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Topower Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,896,254,000 to 1,880,519,000, a change of -15,735,000 (-0.8%).
- Net income of 15,777,000 contributed positively to equity growth.
- Dividend payments of 32,215,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$15.78 Million | +0.84% |
| Dividends Paid | NT$32.22 Million | -1.71% |
| Other Changes | NT$703.00K | +0.04% |
| Total Change | NT$- | -0.83% |
Book Value vs Market Value Analysis
This analysis compares Topower 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: 1.69x
- 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 3.40x to 1.69x 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$14.51 | NT$49.40 | x |
| 2018-12-31 | NT$16.95 | NT$49.40 | x |
| 2019-12-31 | NT$18.24 | NT$49.40 | x |
| 2020-12-31 | NT$20.24 | NT$49.40 | x |
| 2021-12-31 | NT$20.32 | NT$49.40 | x |
| 2022-12-31 | NT$22.80 | NT$49.40 | x |
| 2023-12-31 | NT$24.34 | NT$49.40 | x |
| 2024-12-31 | NT$29.43 | NT$49.40 | x |
| 2025-12-31 | NT$29.19 | NT$49.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Topower 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): 0.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.98%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 1.32x
- Recent ROE (0.84%) is below the historical average (18.31%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 15.06% | 10.15% | 1.03x | 1.44x | NT$47.30 Million |
| 2018 | 26.41% | 16.38% | 1.11x | 1.46x | NT$179.28 Million |
| 2019 | 22.95% | 13.95% | 1.16x | 1.42x | NT$152.19 Million |
| 2020 | 24.79% | 12.97% | 1.13x | 1.68x | NT$193.03 Million |
| 2021 | 17.59% | 7.90% | 1.33x | 1.67x | NT$99.47 Million |
| 2022 | 21.68% | 14.21% | 1.01x | 1.52x | NT$171.72 Million |
| 2023 | 16.58% | 12.05% | 0.91x | 1.51x | NT$103.28 Million |
| 2024 | 18.89% | 16.83% | 0.82x | 1.37x | NT$168.58 Million |
| 2025 | 0.84% | 0.98% | 0.65x | 1.32x | NT$-172.27 Million |
Industry Comparison
This section compares Topower Co Ltd's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $7,677,139,700
- Average return on equity (ROE) among peers: 6.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Topower Co Ltd (3226) | NT$1.88 Billion | 15.06% | 0.32x | $100.28 Million |
| Shihlin Electric & Engineering Corp (1503) | $22.39 Billion | 5.94% | 0.65x | $3.20 Billion |
| Allis Electric Co Ltd (1514) | $2.89 Billion | 7.47% | 0.97x | $816.44 Million |
| Fortune Electric Co Ltd (1519) | $10.86 Billion | 40.69% | 1.60x | $7.02 Billion |
| Klingon Aerospace Inc (1529) | $654.73 Million | -73.83% | 0.56x | $84.29 Million |
| Kung Long Batteries Industrial Co Ltd (1537) | $4.06 Billion | 24.81% | 0.34x | $327.05 Million |
| Chieftek Precision Co Ltd (1597) | $1.36 Billion | 6.30% | 0.62x | $313.41 Million |
| Hua Eng Wire & Cable Co Ltd (1608) | $7.70 Billion | 5.53% | 0.90x | $392.26 Million |
| Ta Ya Electric Wire & Cable Co., Ltd. (1609) | $16.50 Billion | 16.74% | 1.82x | $834.98 Million |
| Hong Tai Electric Industrial Co Ltd (1612) | $5.94 Billion | 13.21% | 0.25x | $302.73 Million |
| Dah San Electric Wire & Cable Co Ltd (1615) | $4.41 Billion | 21.42% | 0.41x | $260.23 Million |
About Topower Co Ltd
LFA Co., Ltd. engages in the manufacture and sale of automotive components, electronic components, and power supplies in Taiwan. It offers LED headlight, truck headlight, fog light, car LED tail lamp, and truck LED headlight. The company was formerly known as Topower Co., Ltd. and changed its name to LFA Co., Ltd. in December 2024. LFA Co., Ltd. was founded in 1975 and is headquartered in Tainan … Read more