United Orthopedic
United Orthopedic Corporation engages in the research, development, manufacture, and sale of orthopedic implants and surgical instruments in Taiwan, Asia, America, Europe, Africa, and Oceania. The company offers artificial hip joints, partial hip joints, joints for large trochanteric fractures, Moore hip prostheses, and customized artificial hip joints for individual tumor patients; artificial kn… Read more
United Orthopedic (4129) - Net Assets
Latest net assets as of September 2025: NT$4.03 Billion TWD
Based on the latest financial reports, United Orthopedic (4129) has net assets worth NT$4.03 Billion 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$7.46 Billion) and total liabilities (NT$3.44 Billion). 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$4.03 Billion |
| % of Total Assets | 53.97% |
| Annual Growth Rate | 9.31% |
| 5-Year Change | 35.04% |
| 10-Year Change | N/A |
| Growth Volatility | 10.86 |
United Orthopedic - Net Assets Trend (2015–2024)
This chart illustrates how United Orthopedic's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for United Orthopedic (2015–2024)
The table below shows the annual net assets of United Orthopedic from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.95 Billion | +9.90% |
| 2023-12-31 | NT$3.59 Billion | +16.32% |
| 2022-12-31 | NT$3.09 Billion | +9.55% |
| 2021-12-31 | NT$2.82 Billion | -3.57% |
| 2020-12-31 | NT$2.93 Billion | -0.30% |
| 2019-12-31 | NT$2.93 Billion | +30.38% |
| 2018-12-31 | NT$2.25 Billion | +1.45% |
| 2017-12-31 | NT$2.22 Billion | +23.12% |
| 2016-12-31 | NT$1.80 Billion | +1.61% |
| 2015-12-31 | NT$1.77 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to United Orthopedic'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 196.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$462.28 Million | 12.00% |
| Other Components | NT$3.39 Billion | 88.00% |
| Total Equity | NT$3.85 Billion | 100.00% |
United Orthopedic Competitors by Market Cap
The table below lists competitors of United Orthopedic ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ratio Oil Exploration (1992) Limited Partnership
PINK:RTEXF
|
$300.40 Million |
|
Gansu Engineering Consulting Group Co Ltd
SHE:000779
|
$300.46 Million |
|
EPL Limited
NSE:EPL
|
$300.54 Million |
|
Oriental Holdings Bhd
KLSE:4006
|
$300.55 Million |
|
BGRIMM Science and Technology Co Ltd
SHG:600980
|
$300.27 Million |
|
Caleres Inc
NYSE:CAL
|
$300.19 Million |
|
Ningxia Xinri Hengli Steel Wire Rope Co Ltd
SHG:600165
|
$300.17 Million |
|
Nusantara Sawit Sejahtera
JK:NSSS
|
$300.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in United Orthopedic's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,497,673,000 to 3,852,539,000, a change of 354,866,000 (10.1%).
- Net income of 456,428,000 contributed positively to equity growth.
- Dividend payments of 385,867,000 reduced retained earnings.
- Share repurchases of 2,603,000 reduced equity.
- Other comprehensive income decreased equity by 254,433,000.
- Other factors increased equity by 541,341,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$456.43 Million | +11.85% |
| Dividends Paid | NT$385.87 Million | -10.02% |
| Share Repurchases | NT$2.60 Million | -0.07% |
| Other Comprehensive Income | NT$-254.43 Million | -6.6% |
| Other Changes | NT$541.34 Million | +14.05% |
| Total Change | NT$- | 10.15% |
Book Value vs Market Value Analysis
This analysis compares United Orthopedic'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: 2.95x
- 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 4.87x to 2.95x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | NT$24.24 | NT$118.00 | x |
| 2017-12-31 | NT$29.14 | NT$118.00 | x |
| 2018-12-31 | NT$26.14 | NT$118.00 | x |
| 2019-12-31 | NT$31.92 | NT$118.00 | x |
| 2020-12-31 | NT$31.85 | NT$118.00 | x |
| 2021-12-31 | NT$34.85 | NT$118.00 | x |
| 2022-12-31 | NT$34.00 | NT$118.00 | x |
| 2023-12-31 | NT$37.60 | NT$118.00 | x |
| 2024-12-31 | NT$39.95 | NT$118.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Orthopedic utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.85%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.81%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 1.83x
- Recent ROE (11.85%) is above the historical average (6.63%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 7.55% | 9.61% | 0.54x | 1.46x | NT$-43.50 Million |
| 2016 | 8.27% | 10.36% | 0.48x | 1.67x | NT$-30.72 Million |
| 2017 | 5.91% | 6.63% | 0.46x | 1.95x | NT$-90.23 Million |
| 2018 | 5.72% | 5.50% | 0.48x | 2.17x | NT$-95.63 Million |
| 2019 | 3.13% | 3.61% | 0.47x | 1.86x | NT$-194.09 Million |
| 2020 | 3.61% | 4.34% | 0.42x | 1.98x | NT$-180.05 Million |
| 2021 | 1.92% | 2.03% | 0.49x | 1.93x | NT$-219.96 Million |
| 2022 | 7.40% | 7.01% | 0.56x | 1.88x | NT$-77.94 Million |
| 2023 | 10.98% | 9.74% | 0.61x | 1.83x | NT$34.43 Million |
| 2024 | 11.85% | 9.81% | 0.66x | 1.83x | NT$71.17 Million |
Industry Comparison
This section compares United Orthopedic's net assets metrics with peer companies in the Medical Devices industry.
Industry Context
- Industry: Medical Devices
- Average net assets among peers: $1,218,788,333
- Average return on equity (ROE) among peers: 6.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Orthopedic (4129) | NT$4.03 Billion | 7.55% | 0.85x | $300.33 Million |
| Health & Life Co., Ltd. (1781) | $372.58 Million | -4.71% | 1.15x | $12.97 Million |
| Hi-Clearance (1788) | $3.00 Billion | 11.98% | 0.65x | $104.25 Million |
| Radiant Innovation (3373) | $865.89 Million | -3.30% | 0.08x | $18.65 Million |
| Wellell Inc (4106) | $1.31 Billion | 13.81% | 0.24x | $37.12 Million |
| Rossmax International Ltd (4121) | $1.33 Billion | 1.93% | 1.30x | $38.32 Million |
| Dynamic Medical Technologies (4138) | $1.76 Billion | 11.67% | 0.71x | $39.41 Million |
| Ok Biotech Co Ltd (4155) | $1.30 Billion | 9.66% | 0.71x | $44.61 Million |
| Bioptik Technology (4161) | $717.83 Million | 6.76% | 1.11x | $30.42 Million |
| EPS Bio Technology Corp. (4183) | $309.15 Million | 10.25% | 0.77x | $4.27 Million |