Zen Voce
Zen Voce Corporation manufactures, processes, maintains, and sells semiconductor packaging and testing equipment and fixtures in Taiwan, the United States, China, Singapore, and internationally. The company engages in the design and manufacturing of equipment, including IC packaging machines and bumping products, wafer cutting and cleaning machines, and board cutting and cleaning machines; and te… Read more
Zen Voce (3581) - Net Assets
Latest net assets as of September 2025: NT$994.86 Million TWD
Based on the latest financial reports, Zen Voce (3581) has net assets worth NT$994.86 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$1.96 Billion) and total liabilities (NT$968.32 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$994.86 Million |
| % of Total Assets | 50.68% |
| Annual Growth Rate | 2.6% |
| 5-Year Change | 13.2% |
| 10-Year Change | 34.36% |
| Growth Volatility | 22.88 |
Zen Voce - Net Assets Trend (2008–2024)
This chart illustrates how Zen Voce's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Zen Voce (2008–2024)
The table below shows the annual net assets of Zen Voce from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.01 Billion | +3.76% |
| 2023-12-31 | NT$977.99 Million | +0.06% |
| 2022-12-31 | NT$977.45 Million | +4.27% |
| 2021-12-31 | NT$937.42 Million | +4.57% |
| 2020-12-31 | NT$896.42 Million | -41.38% |
| 2019-12-31 | NT$1.53 Billion | +76.93% |
| 2018-12-31 | NT$864.35 Million | -2.23% |
| 2017-12-31 | NT$884.06 Million | -1.80% |
| 2016-12-31 | NT$900.24 Million | +19.20% |
| 2015-12-31 | NT$755.22 Million | +17.39% |
| 2014-12-31 | NT$643.34 Million | +8.78% |
| 2013-12-31 | NT$591.43 Million | -9.52% |
| 2012-12-31 | NT$653.66 Million | +6.87% |
| 2011-12-31 | NT$611.63 Million | +5.82% |
| 2010-12-31 | NT$578.00 Million | -2.55% |
| 2009-12-31 | NT$593.11 Million | -11.87% |
| 2008-12-31 | NT$672.99 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Zen Voce'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 18342400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$183.42 Million | 21.34% |
| Other Components | NT$676.30 Million | 78.66% |
| Total Equity | NT$859.73 Million | 100.00% |
Zen Voce Competitors by Market Cap
The table below lists competitors of Zen Voce ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Patriot One Technologies Inc
F:0PL
|
$58.49 Million |
|
Hoang Quan Consulting Trading Service Real Estate Corp
VN:HQC
|
$58.51 Million |
|
Currency Exchange International Corp
PINK:CURN
|
$58.51 Million |
|
Bank of Botetourt
PINK:BORTP
|
$58.52 Million |
|
Tunghsu Azure Renewable Energy Co Ltd
SHE:000040
|
$58.47 Million |
|
Territorial Bancorp Inc
NASDAQ:TBNK
|
$58.46 Million |
|
Panca Anugrah Wisesa Tbk PT
JK:MGLV
|
$58.44 Million |
|
OSE Pharma SA
PA:OSE
|
$58.44 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zen Voce's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 841,876,000 to 859,729,000, a change of 17,853,000 (2.1%).
- Net income of 30,833,000 contributed positively to equity growth.
- Other factors decreased equity by 12,980,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$30.83 Million | +3.59% |
| Other Changes | NT$-12.98 Million | -1.51% |
| Total Change | NT$- | 2.12% |
Book Value vs Market Value Analysis
This analysis compares Zen Voce'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: 4.25x
- 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 decreased from 4.97x to 4.25x 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$14.40 | NT$71.60 | x |
| 2018-12-31 | NT$14.07 | NT$71.60 | x |
| 2019-12-31 | NT$14.29 | NT$71.60 | x |
| 2020-12-31 | NT$15.00 | NT$71.60 | x |
| 2021-12-31 | NT$16.10 | NT$71.60 | x |
| 2022-12-31 | NT$16.73 | NT$71.60 | x |
| 2023-12-31 | NT$16.51 | NT$71.60 | x |
| 2024-12-31 | NT$16.86 | NT$71.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zen Voce utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.59%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.24%
- • Asset Turnover: 0.68x
- • Equity Multiplier: 2.35x
- Recent ROE (3.59%) is below the historical average (7.67%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | 4.43% | 3.93% | 0.72x | 1.57x | NT$-34.08 Million |
| 2012 | 6.14% | 3.97% | 0.96x | 1.61x | NT$-25.25 Million |
| 2013 | 8.87% | 4.79% | 1.29x | 1.43x | NT$-6.71 Million |
| 2014 | 14.45% | 10.56% | 0.90x | 1.52x | NT$28.65 Million |
| 2015 | 6.18% | 5.65% | 0.85x | 1.29x | NT$-28.88 Million |
| 2016 | 7.06% | 5.89% | 0.56x | 2.15x | NT$-21.70 Million |
| 2017 | 10.41% | 6.29% | 0.77x | 2.15x | NT$3.06 Million |
| 2018 | 5.00% | 3.11% | 0.74x | 2.17x | NT$-36.31 Million |
| 2019 | 7.36% | 4.55% | 0.77x | 2.10x | NT$-19.21 Million |
| 2020 | 10.01% | 6.39% | 0.72x | 2.17x | NT$103.70K |
| 2021 | 13.11% | 8.23% | 0.69x | 2.31x | NT$25.56 Million |
| 2022 | 7.52% | 4.25% | 0.73x | 2.43x | NT$-21.18 Million |
| 2023 | 3.31% | 1.91% | 0.74x | 2.33x | NT$-56.28 Million |
| 2024 | 3.59% | 2.24% | 0.68x | 2.35x | NT$-55.14 Million |
Industry Comparison
This section compares Zen Voce'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 |
|---|---|---|---|---|
| Zen Voce (3581) | NT$994.86 Million | 4.43% | 0.97x | $58.49 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 |