United Orthopedic Net Assets
United Orthopedic net assets. Based on the latest financial reports, United Orthopedic (4129) has net assets worth NT$4.01 Billion TWD (≈ $126.18 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$8.51 Billion ≈ $268.14 Million USD) and total liabilities (NT$4.51 Billion ≈ $141.96 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. Also explore United Orthopedic net asset momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$4.01 Billion |
| % of Total Assets | 47.06% |
| Annual Growth Rate | 9.02% |
| 5-Year Change | 49.05% |
| 10-Year Change | 133.37% |
| Growth Volatility | 10.35 |
Net Assets of United Orthopedic (2015–2025)
Net assets of United Orthopedic from 2015 to 2025. This chart illustrates how United Orthopedic's net assets have evolved over time, based on quarterly financial data. See United Orthopedic net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for United Orthopedic (2015–2025)
The table below shows the annual net assets of United Orthopedic from 2015 to 2025. For live market cap and overall valuation, see United Orthopedic (4129) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$4.20 Billion ≈ $132.46 Million |
+6.44% |
| 2024-12-31 | NT$3.95 Billion ≈ $124.45 Million |
+9.90% |
| 2023-12-31 | NT$3.59 Billion ≈ $113.23 Million |
+16.32% |
| 2022-12-31 | NT$3.09 Billion ≈ $97.35 Million |
+9.55% |
| 2021-12-31 | NT$2.82 Billion ≈ $88.87 Million |
-3.57% |
| 2020-12-31 | NT$2.93 Billion ≈ $92.15 Million |
-0.30% |
| 2019-12-31 | NT$2.93 Billion ≈ $92.43 Million |
+30.38% |
| 2018-12-31 | NT$2.25 Billion ≈ $70.90 Million |
+1.45% |
| 2017-12-31 | NT$2.22 Billion ≈ $69.88 Million |
+23.12% |
| 2016-12-31 | NT$1.80 Billion ≈ $56.76 Million |
+1.61% |
| 2015-12-31 | NT$1.77 Billion ≈ $55.86 Million |
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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 303.7% over the analyzed period, indicating profitable operations and earnings retention.
United Orthopedic Net Assets Breakdown (December 2025)
United Orthopedic net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$629.95 Million | 15.37% |
| Other Components | NT$3.47 Billion | 84.63% |
| Total Equity | NT$4.10 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 |
|---|---|
|
Yujin Robot Co. Ltd
KQ:056080
|
$227.01 Million |
|
Thejo Engineering Limited
NSE:THEJO
|
$227.02 Million |
|
Pennar Industries Limited
NSE:PENIND
|
$227.10 Million |
|
Jiangxi Hengda Hi-Tech Co Ltd
SHE:002591
|
$227.11 Million |
|
Etoiles Capital Group Co., Ltd. Class A Ordinary Shares
NASDAQ:EFTY
|
$226.95 Million |
|
Tanco Holdings Bhd
KLSE:2429
|
$226.92 Million |
|
Aspo Oyj
HE:ASPO
|
$226.89 Million |
|
BCEG Environmental Remediation Co. Ltd.
SHE:300958
|
$226.83 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 2024 to 2025, total equity changed from 3,852,539,000 to 4,099,538,000, a change of 246,999,000 (6.4%).
- Net income of 562,497,000 contributed positively to equity growth.
- Dividend payments of 385,866,000 reduced retained earnings.
- Other factors increased equity by 70,368,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$562.50 Million | +13.72% |
| Dividends Paid | NT$385.87 Million | -9.41% |
| Other Changes | NT$70.37 Million | +1.72% |
| Total Change | NT$- | 6.41% |
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: 1.76x
- 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 3.08x to 1.76x 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$74.70 | x |
| 2017-12-31 | NT$29.14 | NT$74.70 | x |
| 2018-12-31 | NT$26.14 | NT$74.70 | x |
| 2019-12-31 | NT$31.92 | NT$74.70 | x |
| 2020-12-31 | NT$31.85 | NT$74.70 | x |
| 2021-12-31 | NT$34.85 | NT$74.70 | x |
| 2022-12-31 | NT$34.00 | NT$74.70 | x |
| 2023-12-31 | NT$37.60 | NT$74.70 | x |
| 2024-12-31 | NT$39.95 | NT$74.70 | x |
| 2025-12-31 | NT$42.51 | NT$74.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently United Orthopedic utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.72%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.95%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 1.91x
- Recent ROE (13.72%) is above the historical average (7.28%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 7.55% | 9.61% | 0.54x | 1.46x | NT$-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 |
| 2025 | 13.72% | 9.95% | 0.72x | 1.91x | NT$152.54 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: $2,225,043,889
- Average return on equity (ROE) among peers: 10.25%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| United Orthopedic (4129) | NT$4.01 Billion | 7.55% | 1.13x | $226.96 Million |
| Hi-Clearance (1788) | $2.01 Billion | 15.76% | 1.09x | $178.14 Million |
| Radiant Innovation (3373) | $658.75 Million | 4.37% | 0.19x | $23.63 Million |
| Wellell Inc (4106) | $1.56 Billion | 7.86% | 0.66x | $75.35 Million |
| Rossmax International Ltd (4121) | $1.85 Billion | -0.36% | 1.21x | $32.33 Million |
| Dynamic Medical Technologies (4138) | $1.70 Billion | 12.34% | 0.81x | $68.44 Million |
| Ok Biotech Co Ltd (4155) | $303.11 Million | 23.87% | 0.60x | $60.97 Million |
| Bioptik Technology (4161) | $974.69 Million | 7.30% | 0.61x | $39.48 Million |
| AViTA Corporation (4735) | $838.11 Million | 6.91% | 0.42x | $43.13 Million |
| TAIDOC TECHNOLOGY CORP (4736) | $10.12 Billion | 14.24% | 0.26x | $382.20 Million |
About United Orthopedic
United Orthopedic Corporation engages in the research, development, manufacture, and sale of orthopedic implants and surgical equipment 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 knee… Read more