Sun Brothers Development Co Ltd (3489) - Net Assets
Based on the latest financial reports, Sun Brothers Development Co Ltd (3489) has net assets worth NT$936.42 Million TWD (≈ $29.50 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$4.23 Billion ≈ $133.19 Million USD) and total liabilities (NT$3.29 Billion ≈ $103.69 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 Sun Brothers Development Co Ltd (3489) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$936.42 Million |
| % of Total Assets | 22.15% |
| Annual Growth Rate | -0.13% |
| 5-Year Change | -8.44% |
| 10-Year Change | N/A |
| Growth Volatility | 4.27 |
Sun Brothers Development Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how Sun Brothers Development Co Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 3489 stock market capitalisation.
Annual Net Assets for Sun Brothers Development Co Ltd (2017–2025)
The table below shows the annual net assets of Sun Brothers Development Co Ltd from 2017 to 2025. Also explore Sun Brothers Development Co Ltd equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.21 Billion ≈ $37.97 Million |
-4.26% |
| 2024-12-31 | NT$1.26 Billion ≈ $39.66 Million |
-8.46% |
| 2023-12-31 | NT$1.38 Billion ≈ $43.32 Million |
+5.86% |
| 2022-12-31 | NT$1.30 Billion ≈ $40.93 Million |
-1.31% |
| 2021-12-31 | NT$1.32 Billion ≈ $41.47 Million |
+1.75% |
| 2020-12-31 | NT$1.29 Billion ≈ $40.76 Million |
+0.82% |
| 2019-12-31 | NT$1.28 Billion ≈ $40.42 Million |
+1.63% |
| 2018-12-31 | NT$1.26 Billion ≈ $39.78 Million |
+3.67% |
| 2017-12-31 | NT$1.22 Billion ≈ $38.37 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Sun Brothers Development 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 decreased by 115.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | NT$1.21 Billion | 100.70% |
| Total Equity | NT$1.21 Billion | 100.00% |
Sun Brothers Development Co Ltd Competitors by Market Cap
The table below lists competitors of Sun Brothers Development Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SEOWONINTECH.Co.Ltd
KQ:093920
|
$61.70 Million |
|
Fission 3.0 Corp
V:FUU
|
$61.70 Million |
|
2S Metal Public Company Limited
BK:2S
|
$61.71 Million |
|
Qliro AB
ST:QLIRO
|
$61.73 Million |
|
Organto Foods Incorporated
V:OGO
|
$61.70 Million |
|
Pearl Diver Credit Company Inc.
NYSE:PDCC
|
$61.69 Million |
|
China Tianrui Group Cement Company Limited
F:T18
|
$61.67 Million |
|
C3 Metals Inc
V:CCCM
|
$61.65 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sun Brothers Development Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,258,831,000 to 1,205,154,000, a change of -53,677,000 (-4.3%).
- Net loss of 8,451,000 reduced equity.
- Dividend payments of 45,266,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-8.45 Million | -0.7% |
| Dividends Paid | NT$45.27 Million | -3.76% |
| Other Changes | NT$40.00K | +0.0% |
| Total Change | NT$- | -4.26% |
Book Value vs Market Value Analysis
This analysis compares Sun Brothers Development 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: 1.62x
- 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 1.48x to 1.62x 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$14.65 | NT$21.65 | x |
| 2018-12-31 | NT$15.19 | NT$21.65 | x |
| 2019-12-31 | NT$15.43 | NT$21.65 | x |
| 2020-12-31 | NT$15.11 | NT$21.65 | x |
| 2021-12-31 | NT$14.52 | NT$21.65 | x |
| 2022-12-31 | NT$14.26 | NT$21.65 | x |
| 2023-12-31 | NT$16.41 | NT$21.65 | x |
| 2024-12-31 | NT$13.92 | NT$21.65 | x |
| 2025-12-31 | NT$13.32 | NT$21.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sun Brothers Development Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -0.70%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.18%
- • Asset Turnover: 0.18x
- • Equity Multiplier: 3.25x
- Recent ROE (-0.70%) is below the historical average (0.85%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | -0.59% | -1.56% | 0.13x | 2.90x | NT$-128.98 Million |
| 2018 | 3.54% | 5.82% | 0.22x | 2.75x | NT$-81.58 Million |
| 2019 | 3.55% | 5.05% | 0.28x | 2.51x | NT$-82.77 Million |
| 2020 | 2.05% | 1.51% | 0.47x | 2.87x | NT$-102.82 Million |
| 2021 | 3.62% | 2.49% | 0.55x | 2.63x | NT$-84.01 Million |
| 2022 | 1.87% | 2.63% | 0.23x | 3.03x | NT$-105.60 Million |
| 2023 | 0.71% | 1.32% | 0.16x | 3.42x | NT$-127.74 Million |
| 2024 | -6.36% | -3.36% | 0.62x | 3.05x | NT$-205.99 Million |
| 2025 | -0.70% | -1.18% | 0.18x | 3.25x | NT$-128.97 Million |
Industry Comparison
This section compares Sun Brothers Development Co Ltd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $10,726,939,800
- Average return on equity (ROE) among peers: 12.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sun Brothers Development Co Ltd (3489) | NT$936.42 Million | -0.59% | 3.51x | $61.70 Million |
| HUA YU LIEN Development Co Ltd (1436) | $3.94 Billion | 24.03% | 2.83x | $221.43 Million |
| Advancetek Enterprise Co Ltd (1442) | $4.96 Billion | 11.33% | 1.93x | $349.02 Million |
| Better Life Group Co Ltd (1805) | $1.18 Billion | 25.46% | 0.75x | $42.95 Million |
| Run Long Construction Co Ltd (1808) | $7.31 Billion | 29.91% | 2.06x | $946.76 Million |
| Jean Co Ltd (2442) | $2.15 Billion | 6.14% | 1.14x | $155.30 Million |
| Cathay Real Estate Development Co Ltd (2501) | $30.51 Billion | 5.17% | 1.93x | $772.66 Million |
| Kuo Yang Construction Co Ltd (2505) | $8.42 Billion | -0.58% | 1.10x | $205.92 Million |
| Pacific Construction Co Ltd (2506) | $9.61 Billion | 7.68% | 0.48x | $97.96 Million |
| Prince Housing & Development Corp (2511) | $25.77 Billion | 5.96% | 0.95x | $424.32 Million |
| King’s Town Construction Co Ltd (2524) | $13.42 Billion | 12.34% | 1.69x | $383.39 Million |
About Sun Brothers Development Co Ltd
Sun Brothers Development Co., Limited, together with its subsidiaries, develops, constructs, leases, and sells residential, commercial, and industrial buildings in Taiwan. It is also involved in the wholesale of building materials, real estate sales, leasing, residential and building/industrial plant development, and construction of houses. The company was formerly known as Sun Power Development … Read more