Mustang Industrial Net Assets
Mustang Industrial net assets. Based on the latest financial reports, Mustang Industrial (5460) has net assets worth NT$744.43 Million TWD (≈ $23.45 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$823.16 Million ≈ $25.93 Million USD) and total liabilities (NT$78.74 Million ≈ $2.48 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 5460 net assets growth trend to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$744.43 Million |
| % of Total Assets | 90.43% |
| Annual Growth Rate | -2.99% |
| 5-Year Change | -2.32% |
| 10-Year Change | N/A |
| Growth Volatility | 3.71 |
Net Assets of Mustang Industrial (2017–2025)
Net assets of Mustang Industrial from 2017 to 2025. This chart illustrates how Mustang Industrial's net assets have evolved over time, based on quarterly financial data. See 5460 net asset quality score to measure how much of total assets are equity-financed.
Annual Net Assets for Mustang Industrial (2017–2025)
The table below shows the annual net assets of Mustang Industrial from 2017 to 2025. For live market cap and overall valuation, see how much is Mustang Industrial worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$726.59 Million ≈ $22.89 Million |
-1.15% |
| 2024-12-31 | NT$735.08 Million ≈ $23.16 Million |
+3.43% |
| 2023-12-31 | NT$710.67 Million ≈ $22.39 Million |
-2.59% |
| 2022-12-31 | NT$729.53 Million ≈ $22.98 Million |
-1.93% |
| 2021-12-31 | NT$743.86 Million ≈ $23.44 Million |
-4.29% |
| 2020-12-31 | NT$777.18 Million ≈ $24.49 Million |
-4.26% |
| 2019-12-31 | NT$811.79 Million ≈ $25.58 Million |
-10.71% |
| 2018-12-31 | NT$909.16 Million ≈ $28.64 Million |
-1.82% |
| 2017-12-31 | NT$926.02 Million ≈ $29.17 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Mustang Industrial'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 decreased by 106.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Mustang Industrial Net Assets Breakdown (December 2025)
Mustang Industrial net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Other Components | NT$741.37 Million | 102.03% |
| Total Equity | NT$726.59 Million | 100.00% |
Mustang Industrial Competitors by Market Cap
The table below lists competitors of Mustang Industrial ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tower Real Estate Investment Trust
KLSE:5111
|
$36.97 Million |
|
GROUP PAREF INH. EO 25
F:G5I
|
$36.98 Million |
|
DNA Biomed Solns
TA:DNA
|
$36.98 Million |
|
NextBoat Inc.
NYSE MKT:NXB
|
$37.00 Million |
|
Gozco Plantations Tbk
JK:GZCO
|
$36.91 Million |
|
Seondo Electric Co., Ltd.
KO:007610
|
$36.91 Million |
|
INmune Bio Inc
NASDAQ:INMB
|
$36.91 Million |
|
Bangkok Dec-Con Public Company Limited
BK:BKD
|
$36.90 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mustang Industrial's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 735,075,000 to 726,586,000, a change of -8,489,000 (-1.2%).
- Net loss of 10,235,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-10.23 Million | -1.41% |
| Other Changes | NT$1.75 Million | +0.24% |
| Total Change | NT$- | -1.15% |
Book Value vs Market Value Analysis
This analysis compares Mustang Industrial'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: 1.61x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.32x to 1.61x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$15.12 | NT$19.95 | x |
| 2018-12-31 | NT$14.85 | NT$19.95 | x |
| 2019-12-31 | NT$13.26 | NT$19.95 | x |
| 2020-12-31 | NT$12.66 | NT$19.95 | x |
| 2021-12-31 | NT$12.31 | NT$19.95 | x |
| 2022-12-31 | NT$12.41 | NT$19.95 | x |
| 2023-12-31 | NT$12.09 | NT$19.95 | x |
| 2024-12-31 | NT$12.51 | NT$19.95 | x |
| 2025-12-31 | NT$12.36 | NT$19.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mustang Industrial utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -1.41%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -4.39%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.12x
- Recent ROE (-1.41%) is below the historical average (0.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 3.57% | 3.93% | 0.70x | 1.29x | NT$-59.53 Million |
| 2018 | 2.37% | 2.49% | 0.71x | 1.33x | NT$-69.38 Million |
| 2019 | 6.05% | 5.95% | 0.79x | 1.29x | NT$-32.09 Million |
| 2020 | 0.14% | 0.17% | 0.65x | 1.22x | NT$-76.65 Million |
| 2021 | 0.06% | 0.09% | 0.56x | 1.19x | NT$-73.94 Million |
| 2022 | -2.73% | -5.16% | 0.46x | 1.16x | NT$-92.89 Million |
| 2023 | -1.69% | -3.35% | 0.44x | 1.14x | NT$-83.06 Million |
| 2024 | 1.80% | 4.77% | 0.33x | 1.13x | NT$-60.31 Million |
| 2025 | -1.41% | -4.39% | 0.29x | 1.12x | NT$-82.89 Million |
Industry Comparison
This section compares Mustang Industrial's net assets metrics with peer companies in the Metal Fabrication industry.
Industry Context
- Industry: Metal Fabrication
- Average net assets among peers: $19,392,797,800
- Average return on equity (ROE) among peers: 5.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mustang Industrial (5460) | NT$744.43 Million | 3.57% | 0.11x | $36.94 Million |
| Lee Chi Enterprises Co Ltd (1517) | $3.49 Billion | 7.63% | 0.54x | $69.31 Million |
| China Metal Products Co Ltd (1532) | $16.00 Billion | 4.95% | 1.80x | $281.31 Million |
| Bin Chuan Enterprise Co Ltd (1569) | $3.68 Billion | 10.64% | 0.96x | $404.92 Million |
| China Fineblanking Technology Co Ltd (1586) | $1.50 Billion | 2.02% | 0.99x | $57.28 Million |
| Yeong Guan Energy Technology Group Co Ltd (1589) | $8.76 Billion | 5.86% | 0.87x | $26.73 Million |
| Solar Applied Materials Technology (1785) | $5.17 Billion | 7.52% | 2.84x | $1.52 Billion |
| Chia Yi Steel Co Ltd (2067) | $458.07 Million | -6.49% | 1.93x | $6.44 Million |
| CX Technology Corp (2415) | $1.63 Billion | 5.00% | 0.86x | $76.09 Million |
| Catcher Technology Co Ltd (2474) | $151.43 Billion | 5.66% | 0.63x | $2.98 Billion |
| Univacco Technology (3303) | $1.81 Billion | 11.55% | 0.66x | $148.53 Million |
About Mustang Industrial
Mustang Industrial Corp. engages in the manufacture and sale of progressive die molds and stamping products in Taiwan. The company offers shielding frame and cover assemblies for tuners; metal stamped frames and covers for signal shielding; and large-sized metal stamping products, which include cover and chassis of set-top boxes and satellite receivers. It also provides middle size stamping parts… Read more