Thermaltake Technology Co Ltd (3540) - Net Assets
Based on the latest financial reports, Thermaltake Technology Co Ltd (3540) has net assets worth NT$1.74 Billion TWD (≈ $54.93 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$5.73 Billion ≈ $180.42 Million USD) and total liabilities (NT$3.98 Billion ≈ $125.49 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 Thermaltake Technology Co Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.74 Billion |
| % of Total Assets | 30.45% |
| Annual Growth Rate | 3.48% |
| 5-Year Change | 3.43% |
| 10-Year Change | N/A |
| Growth Volatility | 9.06 |
Thermaltake Technology Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how Thermaltake Technology Co Ltd's net assets have evolved over time, based on quarterly financial data. See 3540 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Thermaltake Technology Co Ltd (2017–2025)
The table below shows the annual net assets of Thermaltake Technology Co Ltd from 2017 to 2025. For live valuation and market cap data, see market value of Thermaltake Technology Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.74 Billion ≈ $54.93 Million |
-1.21% |
| 2024-12-31 | NT$1.76 Billion ≈ $55.60 Million |
-3.28% |
| 2023-12-31 | NT$1.82 Billion ≈ $57.49 Million |
+5.23% |
| 2022-12-31 | NT$1.73 Billion ≈ $54.63 Million |
+2.88% |
| 2021-12-31 | NT$1.69 Billion ≈ $53.10 Million |
-3.24% |
| 2020-12-31 | NT$1.74 Billion ≈ $54.88 Million |
+24.62% |
| 2019-12-31 | NT$1.40 Billion ≈ $44.04 Million |
-3.97% |
| 2018-12-31 | NT$1.46 Billion ≈ $45.86 Million |
+9.77% |
| 2017-12-31 | NT$1.33 Billion ≈ $41.78 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Thermaltake Technology 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 20.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$286.56 Million | 15.96% |
| Other Components | NT$1.51 Billion | 84.04% |
| Total Equity | NT$1.80 Billion | 100.00% |
Thermaltake Technology Co Ltd Competitors by Market Cap
The table below lists competitors of Thermaltake Technology Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tera Software Limited
NSE:TERASOFT
|
$59.26 Million |
|
iLearningEngines, Inc.
NASDAQ:AILE
|
$59.29 Million |
|
Durect Corporation
NASDAQ:DRRX
|
$59.31 Million |
|
EVZ Ltd
AU:EVZ
|
$59.32 Million |
|
Newfield Resources Ltd
AU:NWF
|
$59.24 Million |
|
CBAK Energy Technology Inc
NASDAQ:CBAT
|
$59.22 Million |
|
Hitech Corporation Limited
NSE:HITECHCORP
|
$59.22 Million |
|
Inversa Prime SOCIMI S.A.
MC:YIPS
|
$59.22 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thermaltake Technology Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,807,097,000 to 1,795,135,000, a change of -11,962,000 (-0.7%).
- Net income of 53,757,000 contributed positively to equity growth.
- Other factors decreased equity by 65,719,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$53.76 Million | +2.99% |
| Other Changes | NT$-65.72 Million | -3.66% |
| Total Change | NT$- | -0.66% |
Book Value vs Market Value Analysis
This analysis compares Thermaltake Technology 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: 1.05x
- 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 1.40x to 1.05x 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$18.51 | NT$25.95 | x |
| 2018-12-31 | NT$19.70 | NT$25.95 | x |
| 2019-12-31 | NT$19.01 | NT$25.95 | x |
| 2020-12-31 | NT$24.10 | NT$25.95 | x |
| 2021-12-31 | NT$23.49 | NT$25.95 | x |
| 2022-12-31 | NT$24.33 | NT$25.95 | x |
| 2023-12-31 | NT$25.49 | NT$25.95 | x |
| 2024-12-31 | NT$24.94 | NT$25.95 | x |
| 2025-12-31 | NT$24.77 | NT$25.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thermaltake Technology Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.99%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.05%
- • Asset Turnover: 0.90x
- • Equity Multiplier: 3.19x
- Recent ROE (2.99%) is below the historical average (7.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 8.82% | 3.33% | 1.23x | 2.15x | NT$-15.54 Million |
| 2018 | 9.25% | 3.43% | 1.21x | 2.22x | NT$-10.76 Million |
| 2019 | 6.11% | 2.10% | 1.15x | 2.53x | NT$-53.95 Million |
| 2020 | 26.71% | 8.70% | 1.16x | 2.65x | NT$285.90 Million |
| 2021 | 12.99% | 5.12% | 1.02x | 2.48x | NT$50.05 Million |
| 2022 | 1.77% | 0.96% | 0.74x | 2.48x | NT$-142.91 Million |
| 2023 | 5.47% | 2.29% | 0.95x | 2.52x | NT$-83.21 Million |
| 2024 | -5.40% | -2.45% | 0.76x | 2.88x | NT$-278.36 Million |
| 2025 | 2.99% | 1.05% | 0.90x | 3.19x | NT$-125.76 Million |
Industry Comparison
This section compares Thermaltake Technology Co Ltd's net assets metrics with peer companies in the Electronics & Computer Distribution industry.
Industry Context
- Industry: Electronics & Computer Distribution
- Average net assets among peers: $11,159,743,900
- Average return on equity (ROE) among peers: 11.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thermaltake Technology Co Ltd (3540) | NT$1.74 Billion | 8.82% | 2.28x | $59.24 Million |
| China Wire & Cable Co Ltd (1603) | $2.97 Billion | 5.87% | 1.87x | $158.89 Million |
| Hold-Key Electric Wire & Cable Co Ltd (1618) | $4.81 Billion | 5.96% | 0.12x | $254.37 Million |
| Synnex Technology International Corp (2347) | $27.80 Billion | 11.84% | 1.27x | $4.86 Billion |
| Foxconn Technology Co Ltd (2354) | $49.32 Billion | 18.34% | 1.03x | $2.56 Billion |
| Senao International Co Ltd (2450) | $6.13 Billion | 23.32% | 0.72x | $236.36 Million |
| Wah Lee Industrial Corp (3010) | $13.28 Billion | 10.66% | 1.59x | $1.06 Billion |
| Weikeng Industrial Co Ltd (3033) | $3.74 Billion | 19.19% | 2.14x | $743.69 Million |
| Edom Technology Co Ltd (3048) | $2.25 Billion | 14.51% | 1.96x | $617.18 Million |
| MetaTech AP (3224) | $599.51 Million | 0.87% | 0.30x | $93.42 Million |
| Sentronic International (3232) | $702.21 Million | 2.09% | 0.68x | $33.82 Million |
About Thermaltake Technology Co Ltd
Thermaltake Technology Co., Ltd. engages in the wholesale of electronic materials, office machinery, and equipment in America, Asia, Europe, Taiwan, and internationally. The company offers chassis, power supply units, cooling systems, memory modules, gaming PCs, gaming peripherals, and gaming furniture under the Thermaltake brand; keyboards, headsets, mice, and accessories under the Tt eSPORTS br… Read more