Top High Image (3284) - Net Assets
Based on the latest financial reports, Top High Image (3284) has net assets worth NT$1.74 Billion TWD (≈ $54.69 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$3.13 Billion ≈ $98.73 Million USD) and total liabilities (NT$1.40 Billion ≈ $44.04 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 financial resilience of Top High Image to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.74 Billion |
| % of Total Assets | 55.39% |
| Annual Growth Rate | 8.5% |
| 5-Year Change | 130.19% |
| 10-Year Change | N/A |
| Growth Volatility | 16.38 |
Top High Image - Net Assets Trend (2017–2025)
This chart illustrates how Top High Image's net assets have evolved over time, based on quarterly financial data. Also explore Top High Image (3284) total assets for the complete picture of this company's asset base.
Annual Net Assets for Top High Image (2017–2025)
The table below shows the annual net assets of Top High Image from 2017 to 2025. For live valuation and market cap data, see Top High Image market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.74 Billion ≈ $54.69 Million |
+17.96% |
| 2024-12-31 | NT$1.47 Billion ≈ $46.36 Million |
+28.67% |
| 2023-12-31 | NT$1.14 Billion ≈ $36.03 Million |
+15.34% |
| 2022-12-31 | NT$991.60 Million ≈ $31.24 Million |
+31.50% |
| 2021-12-31 | NT$754.09 Million ≈ $23.76 Million |
+15.01% |
| 2020-12-31 | NT$655.68 Million ≈ $20.66 Million |
-10.26% |
| 2019-12-31 | NT$730.63 Million ≈ $23.02 Million |
-9.20% |
| 2018-12-31 | NT$804.64 Million ≈ $25.35 Million |
-10.99% |
| 2017-12-31 | NT$904.00 Million ≈ $28.48 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Top High Image'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 17.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$278.16 Million | 18.09% |
| Other Components | NT$1.26 Billion | 81.91% |
| Total Equity | NT$1.54 Billion | 100.00% |
Top High Image Competitors by Market Cap
The table below lists competitors of Top High Image ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Allegiant Gold Ltd
V:AUAU
|
$53.67 Million |
|
Qliro AB
ST:QLIRO
|
$53.71 Million |
|
FIT INVEST JSC
VN:FIT
|
$53.73 Million |
|
Faraday Future Intelligent Electric Inc.
NASDAQ:FFAI
|
$53.73 Million |
|
Kronos Bio Inc
NASDAQ:KRON
|
$53.65 Million |
|
Metair
JSE:MTA
|
$53.64 Million |
|
Hwail Pharmaceutical Co.Ltd
KQ:061250
|
$53.61 Million |
|
Instil Bio Inc.
NASDAQ:TIL
|
$53.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Top High Image's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,267,604,000 to 1,537,701,000, a change of 270,097,000 (21.3%).
- Net income of 243,237,000 contributed positively to equity growth.
- Dividend payments of 73,917,000 reduced retained earnings.
- New share issuances of 98,935,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$243.24 Million | +15.82% |
| Dividends Paid | NT$73.92 Million | -4.81% |
| Share Issuances | NT$98.94 Million | +6.43% |
| Other Changes | NT$1.84 Million | +0.12% |
| Total Change | NT$- | 21.31% |
Book Value vs Market Value Analysis
This analysis compares Top High Image'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: 1.11x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.97x to 1.11x 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$16.15 | NT$15.70 | x |
| 2018-12-31 | NT$14.91 | NT$15.70 | x |
| 2019-12-31 | NT$13.54 | NT$15.70 | x |
| 2020-12-31 | NT$12.15 | NT$15.70 | x |
| 2021-12-31 | NT$10.93 | NT$15.70 | x |
| 2022-12-31 | NT$11.27 | NT$15.70 | x |
| 2023-12-31 | NT$9.98 | NT$15.70 | x |
| 2024-12-31 | NT$12.12 | NT$15.70 | x |
| 2025-12-31 | NT$14.17 | NT$15.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Top High Image utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.82%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.00%
- • Asset Turnover: 0.28x
- • Equity Multiplier: 2.04x
- Recent ROE (15.82%) is above the historical average (3.38%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 9.67% | 10.41% | 0.75x | 1.23x | NT$-2.95 Million |
| 2018 | 0.43% | 0.39% | 0.75x | 1.46x | NT$-77.02 Million |
| 2019 | -4.93% | -4.21% | 0.69x | 1.71x | NT$-109.11 Million |
| 2020 | -12.24% | -11.76% | 0.58x | 1.80x | NT$-145.79 Million |
| 2021 | -6.95% | -9.17% | 0.44x | 1.70x | NT$-127.79 Million |
| 2022 | 3.59% | 4.46% | 0.49x | 1.64x | NT$-63.60 Million |
| 2023 | 6.46% | 8.76% | 0.37x | 1.97x | NT$-36.89 Million |
| 2024 | 18.59% | 22.29% | 0.37x | 2.28x | NT$108.88 Million |
| 2025 | 15.82% | 28.00% | 0.28x | 2.04x | NT$89.47 Million |
Industry Comparison
This section compares Top High Image's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $12,042,481,900
- Average return on equity (ROE) among peers: 8.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Top High Image (3284) | NT$1.74 Billion | 9.67% | 0.81x | $53.66 Million |
| TECO Electric & Machinery Co Ltd (1504) | $55.72 Billion | 6.25% | 0.66x | $4.61 Billion |
| Chung-Hsin Electric & Machinery Mfg Corp (1513) | $8.16 Billion | 6.73% | 0.83x | $2.31 Billion |
| Anderson Industrial Corp (1528) | $1.76 Billion | 8.23% | 1.17x | $173.61 Million |
| Awea Mechantronic Co Ltd (1530) | $3.39 Billion | 6.22% | 0.76x | $78.83 Million |
| Kaulin Mfg (1531) | $3.74 Billion | 4.98% | 0.23x | $74.30 Million |
| Chiu Ting Machinery Co Ltd (1539) | $669.23 Million | -8.44% | 1.29x | $33.26 Million |
| Roundtop Machinery Industries Co Ltd (1540) | $1.37 Billion | 3.35% | 0.19x | $56.42 Million |
| Sinmag Equipment (1580) | $2.04 Billion | 26.12% | 0.62x | $191.20 Million |
| Goodway Machine Corp (1583) | $8.41 Billion | 14.92% | 0.77x | $160.62 Million |
| Airtac International Group (1590) | $35.15 Billion | 18.33% | 0.36x | $9.17 Billion |
About Top High Image
Top High Image Corp. engages in the manufacture and sale of pre-sensitized plates for offset printing, and wholesale of aluminum plate materials in Taiwan and internationally. The company offers TOP offset printing plates/chemicals, including T-20 process free, T-UV thermal CTP, X-UV thermal CTP, T-830 positive thermal CTP, and HS-920 positive UV CTP plates. It also engages in the general investm… Read more