Tainet Communication System (4905) - Net Assets
Based on the latest financial reports, Tainet Communication System (4905) has net assets worth NT$3.04 Billion TWD (≈ $95.74 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$4.52 Billion ≈ $142.27 Million USD) and total liabilities (NT$1.48 Billion ≈ $46.52 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 Tainet Communication System liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.04 Billion |
| % of Total Assets | 67.3% |
| Annual Growth Rate | -3.36% |
| 5-Year Change | 7.06% |
| 10-Year Change | N/A |
| Growth Volatility | 8.31 |
Tainet Communication System - Net Assets Trend (2017–2024)
This chart illustrates how Tainet Communication System's net assets have evolved over time, based on quarterly financial data. Also explore 4905 total assets for the complete picture of this company's asset base.
Annual Net Assets for Tainet Communication System (2017–2024)
The table below shows the annual net assets of Tainet Communication System from 2017 to 2024. For live valuation and market cap data, see 4905 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.04 Billion ≈ $95.69 Million |
+7.50% |
| 2023-12-31 | NT$2.83 Billion ≈ $89.01 Million |
+5.28% |
| 2022-12-31 | NT$2.68 Billion ≈ $84.55 Million |
-4.91% |
| 2021-12-31 | NT$2.82 Billion ≈ $88.92 Million |
-0.52% |
| 2020-12-31 | NT$2.84 Billion ≈ $89.38 Million |
-4.32% |
| 2019-12-31 | NT$2.96 Billion ≈ $93.41 Million |
-3.84% |
| 2018-12-31 | NT$3.08 Billion ≈ $97.14 Million |
-20.11% |
| 2017-12-31 | NT$3.86 Billion ≈ $121.59 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tainet Communication System'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 36.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.24 Billion | 78.33% |
| Other Components | NT$619.51 Million | 21.67% |
| Total Equity | NT$2.86 Billion | 100.00% |
Tainet Communication System Competitors by Market Cap
The table below lists competitors of Tainet Communication System ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cosmax Nbt Inc
KQ:222040
|
$72.02 Million |
|
Kjell Group AB
ST:KJELL
|
$72.08 Million |
|
Lee Chi Enterprises Co Ltd
TW:1517
|
$72.08 Million |
|
China Tianrui Group Cement Company Limited
F:T18
|
$72.09 Million |
|
Sentelic Corp
TWO:4945
|
$71.98 Million |
|
Fluoguide AS
ST:FLUO
|
$71.96 Million |
|
Sera Prognostics Inc
NASDAQ:SERA
|
$71.87 Million |
|
COWELL FASHION Co.Ltd
KQ:033290
|
$71.85 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tainet Communication System's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,778,390,000 to 2,858,479,000, a change of 80,089,000 (2.9%).
- Net income of 85,070,000 contributed positively to equity growth.
- Dividend payments of 43,890,000 reduced retained earnings.
- Other factors increased equity by 38,909,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$85.07 Million | +2.98% |
| Dividends Paid | NT$43.89 Million | -1.54% |
| Other Changes | NT$38.91 Million | +1.36% |
| Total Change | NT$- | 2.88% |
Book Value vs Market Value Analysis
This analysis compares Tainet Communication System'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: 0.80x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$99.39 | NT$78.10 | x |
| 2018-12-31 | NT$89.97 | NT$78.10 | x |
| 2019-12-31 | NT$89.60 | NT$78.10 | x |
| 2020-12-31 | NT$81.20 | NT$78.10 | x |
| 2021-12-31 | NT$87.84 | NT$78.10 | x |
| 2022-12-31 | NT$90.75 | NT$78.10 | x |
| 2023-12-31 | NT$94.52 | NT$78.10 | x |
| 2024-12-31 | NT$97.69 | NT$78.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tainet Communication System 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): 2.98%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.35%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 1.54x
- Recent ROE (2.98%) is below the historical average (3.38%), 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 | 26.53% | 1140.27% | 0.02x | 1.05x | NT$636.93 Million |
| 2018 | -11.41% | -407.20% | 0.03x | 1.08x | NT$-659.12 Million |
| 2019 | 1.80% | 83.49% | 0.02x | 1.05x | NT$-243.07 Million |
| 2020 | 1.14% | 50.26% | 0.02x | 1.02x | NT$-251.30 Million |
| 2021 | 1.70% | 80.84% | 0.02x | 1.02x | NT$-234.29 Million |
| 2022 | -1.64% | -53.00% | 0.03x | 1.01x | NT$-312.31 Million |
| 2023 | 5.91% | 143.18% | 0.03x | 1.26x | NT$-113.70 Million |
| 2024 | 2.98% | 14.35% | 0.13x | 1.54x | NT$-200.78 Million |
Industry Comparison
This section compares Tainet Communication System's net assets metrics with peer companies in the Communication Equipment industry.
Industry Context
- Industry: Communication Equipment
- Average net assets among peers: $4,352,778,700
- Average return on equity (ROE) among peers: 4.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tainet Communication System (4905) | NT$3.04 Billion | 26.53% | 0.49x | $72.00 Million |
| Microelectronics Technology Inc (2314) | $4.24 Billion | 20.07% | 0.89x | $47.14 Million |
| Tecom Co Ltd (2321) | $549.96 Million | -11.14% | 3.07x | $12.46 Million |
| D-Link Corp (2332) | $13.20 Billion | 0.47% | 0.93x | $260.42 Million |
| Accton Technology Corp (2345) | $7.56 Billion | 8.51% | 0.87x | $40.15 Billion |
| Hitron Technologies Inc (2419) | $1.79 Billion | 3.83% | 1.28x | $306.23 Million |
| Abocom Systems Inc (2444) | $980.48 Million | -1.62% | 1.10x | $42.72 Million |
| Zinwell Corporation (2485) | $7.48 Billion | 11.28% | 0.37x | $587.53 Million |
| Loop Telecommunication International Inc (3025) | $788.88 Million | 1.56% | 0.29x | $107.43 Million |
| Edimax Technology Co Ltd (3047) | $2.36 Billion | 8.03% | 0.91x | $102.61 Million |
| CyberTAN Technology Inc (3062) | $4.58 Billion | 8.00% | 0.51x | $257.39 Million |
About Tainet Communication System
Tainet Communication System Corp. provides carrier class access equipment to telecommunication companies, service operators, and business users worldwide. The company offers Ethernet access devices, fiber optics, VoIP gateway products, xDSL and analog modems, LTE routers, PON, and optical transceivers. It also provides wireless access and data communication; voice services in complex network envi… Read more