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 (≈ $59.32 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$2.51 Billion ≈ $78.98 Million USD) and total liabilities (NT$624.18 Million ≈ $19.66 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 how strategically is Topower Co Ltd's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.88 Billion |
| % of Total Assets | 75.1% |
| 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. For live market cap and overall valuation, see market value of Topower Co Ltd.
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. Also explore Topower Co Ltd annual equity growth to track the company's year-over-year net asset growth rate.
| 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 |
|---|---|
|
Distribuidora de Gas Cuyana SA
BA:DGCU2
|
$115.10 Million |
|
Jaeyoung Solutec Co. Ltd
KQ:049630
|
$115.11 Million |
|
RheinLand Holding AG
DU:RLV
|
$115.20 Million |
|
Innate Pharma
PA:IPH
|
$115.22 Million |
|
Equillium Inc
NASDAQ:EQ
|
$115.09 Million |
|
MFS High Income Municipal Closed Fund
NYSE:CXE
|
$115.07 Million |
|
OBI Pharma
TWO:4174
|
$115.04 Million |
|
Genovate Biotechnology Co Ltd
TWO:4130
|
$115.03 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: 1.94x
- 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 3.91x to 1.94x 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$56.70 | x |
| 2018-12-31 | NT$16.95 | NT$56.70 | x |
| 2019-12-31 | NT$18.24 | NT$56.70 | x |
| 2020-12-31 | NT$20.24 | NT$56.70 | x |
| 2021-12-31 | NT$20.32 | NT$56.70 | x |
| 2022-12-31 | NT$22.80 | NT$56.70 | x |
| 2023-12-31 | NT$24.34 | NT$56.70 | x |
| 2024-12-31 | NT$29.43 | NT$56.70 | x |
| 2025-12-31 | NT$29.19 | NT$56.70 | 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 Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $4,214,449,200
- Average return on equity (ROE) among peers: 6.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Topower Co Ltd (3226) | NT$1.88 Billion | 15.06% | 0.33x | $115.10 Million |
| Tong Yang Industry Co Ltd (1319) | $14.34 Billion | 10.91% | 0.98x | $1.49 Billion |
| Taihan Precision Technology Co Ltd (1336) | $1.67 Billion | 4.39% | 0.41x | $40.96 Million |
| Hiroca Holdings Ltd (1338) | $6.10 Billion | 10.37% | 0.41x | $36.51 Million |
| Y.C.C. Parts MFG Co Ltd (1339) | $3.59 Billion | 3.28% | 0.48x | $100.89 Million |
| Right Way Industrial Co Ltd (1506) | $1.27 Billion | 3.48% | 1.36x | $92.75 Million |
| Jui Li Enterprise Co Ltd (1512) | $2.29 Billion | 5.43% | 1.47x | $19.15 Million |
| Ta Yih Industrial Co Ltd (1521) | $1.87 Billion | 4.68% | 0.51x | $60.40 Million |
| TYC Brother Industrial Co Ltd (1522) | $5.81 Billion | 1.09% | 2.29x | $254.06 Million |
| Gordon Auto Body Parts Co Ltd (1524) | $2.11 Billion | 10.49% | 1.30x | $135.15 Million |
| Kian Shen Corp (1525) | $3.11 Billion | 10.29% | 0.23x | $150.31 Million |
About Topower Co Ltd
LFA Co., Ltd. engages in the manufacture and sale of automotive and electronic components in Taiwan. The company offers LED headlight, truck headlight, fog light, car LED tail lamp, power supplies, 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 Cit… Read more