TrueLight
TrueLight Corporation designs, develops, and supplies optical communication components in China, Taiwan, Asia, the United States, and Europe. The company offers optical fiber communication, 4G/5G mobile communication base station interconnection, cloud data center, and 3D sensing/near-field sensing/flood illumination products. It also provides vertical cavity surface emitting lasers, edge lasers,… Read more
TrueLight (3234) - Net Assets
Latest net assets as of September 2025: NT$796.18 Million TWD
Based on the latest financial reports, TrueLight (3234) has net assets worth NT$796.18 Million 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$1.07 Billion) and total liabilities (NT$270.56 Million). 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$796.18 Million |
| % of Total Assets | 74.64% |
| Annual Growth Rate | -5.09% |
| 5-Year Change | -1.18% |
| 10-Year Change | N/A |
| Growth Volatility | 15.24 |
TrueLight - Net Assets Trend (2017–2024)
This chart illustrates how TrueLight's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TrueLight (2017–2024)
The table below shows the annual net assets of TrueLight from 2017 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$910.22 Million | +29.34% |
| 2023-12-31 | NT$703.72 Million | -9.00% |
| 2022-12-31 | NT$773.30 Million | -2.47% |
| 2021-12-31 | NT$792.86 Million | -13.92% |
| 2020-12-31 | NT$921.11 Million | +1.45% |
| 2019-12-31 | NT$907.98 Million | -20.91% |
| 2018-12-31 | NT$1.15 Billion | -12.54% |
| 2017-12-31 | NT$1.31 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to TrueLight'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 decreased by 336.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | NT$1.41 Billion | 147.36% |
| Total Equity | NT$957.13 Million | 100.00% |
TrueLight Competitors by Market Cap
The table below lists competitors of TrueLight ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Friedman Industries Inc. Common Stock
NYSE MKT:FRD
|
$130.23 Million |
|
Sariguna Primatirta PT
JK:CLEO
|
$130.24 Million |
|
CCFNB Bancorp Inc
OTCQX:CCFN
|
$130.27 Million |
|
Camlin Fine Sciences Limited
NSE:CAMLINFINE
|
$130.29 Million |
|
Gokul Agro Resources Limited
NSE:GOKULAGRO
|
$130.21 Million |
|
Pes Camanchaca
SN:CAMANCHACA
|
$130.16 Million |
|
Kangping Technology (Suzhou) Co. Ltd.
SHE:300907
|
$130.14 Million |
|
Saturn Oil & Gas Inc
OTCQX:OILSF
|
$130.10 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TrueLight's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 735,010,000 to 957,130,000, a change of 222,120,000 (30.2%).
- Net loss of 239,250,000 reduced equity.
- New share issuances of 456,000,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-239.25 Million | -25.0% |
| Share Issuances | NT$456.00 Million | +47.64% |
| Other Changes | NT$5.37 Million | +0.56% |
| Total Change | NT$- | 30.22% |
Book Value vs Market Value Analysis
This analysis compares TrueLight'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: 10.26x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 4.90x to 10.26x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$17.99 | NT$88.10 | x |
| 2018-12-31 | NT$15.20 | NT$88.10 | x |
| 2019-12-31 | NT$11.76 | NT$88.10 | x |
| 2020-12-31 | NT$11.19 | NT$88.10 | x |
| 2021-12-31 | NT$9.70 | NT$88.10 | x |
| 2022-12-31 | NT$10.06 | NT$88.10 | x |
| 2023-12-31 | NT$8.82 | NT$88.10 | x |
| 2024-12-31 | NT$8.59 | NT$88.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TrueLight utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -25.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -41.70%
- • Asset Turnover: 0.46x
- • Equity Multiplier: 1.29x
- Recent ROE (-25.00%) is below the historical average (-24.83%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | -49.23% | -34.93% | 0.55x | 2.57x | NT$-770.65 Million |
| 2018 | -15.83% | -8.95% | 0.68x | 2.59x | NT$-294.07 Million |
| 2019 | -35.97% | -22.06% | 0.62x | 2.64x | NT$-410.78 Million |
| 2020 | 0.80% | 0.48% | 0.72x | 2.32x | NT$-83.61 Million |
| 2021 | -16.85% | -10.11% | 0.74x | 2.26x | NT$-211.56 Million |
| 2022 | -3.40% | -2.65% | 0.60x | 2.13x | NT$-103.14 Million |
| 2023 | -53.12% | -61.95% | 0.48x | 1.77x | NT$-463.94 Million |
| 2024 | -25.00% | -41.70% | 0.46x | 1.29x | NT$-334.96 Million |
Industry Comparison
This section compares TrueLight's net assets metrics with peer companies in the Semiconductors industry.
Industry Context
- Industry: Semiconductors
- Average net assets among peers: $20,387,667,400
- Average return on equity (ROE) among peers: -0.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TrueLight (3234) | NT$796.18 Million | -49.23% | 0.34x | $130.22 Million |
| Polylite Taiwan Co Ltd (1813) | $1.02 Billion | 9.68% | 0.11x | $10.90 Million |
| Orient Semiconductor Electronics Ltd (2329) | $5.50 Billion | -2.03% | 2.04x | $836.46 Million |
| Macronix International Co Ltd (2337) | $22.78 Billion | -28.37% | 0.97x | $5.52 Billion |
| Optotech Corp (2340) | $7.12 Billion | 4.72% | 0.60x | $279.36 Million |
| Mosel Vitelic Inc (2342) | $1.29 Billion | -1.88% | 1.06x | $98.63 Million |
| Winbond Electronics Corp (2344) | $78.11 Billion | 0.00% | 0.35x | $10.24 Billion |
| Silicon Integrated Systems Corp (2363) | $18.37 Billion | 0.00% | 0.92x | $603.45 Million |
| Realtek Semiconductor Corp (2379) | $20.64 Billion | 13.14% | 0.11x | $6.64 Billion |
| VIA Technologies Inc (2388) | $15.91 Billion | 0.00% | 0.71x | $369.19 Million |
| Nanya Technology Corp (2408) | $33.14 Billion | 0.00% | 1.31x | $9.33 Billion |