Te Chang Construction Co Ltd
Te Chang Construction Co., Ltd. engages in the construction contracting and civil engineering business in Taiwan and Thailand. The company undertakes various projects, such as public buildings, hospital, school, social housing, redevelopment of national housing and military dependents' villages, technology plants, commercial buildings, office buildings, civil engineering, and other projects. It a… Read more
Te Chang Construction Co Ltd (5511) - Net Assets
Latest net assets as of September 2025: NT$6.52 Billion TWD
Based on the latest financial reports, Te Chang Construction Co Ltd (5511) has net assets worth NT$6.52 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$13.53 Billion) and total liabilities (NT$7.01 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$6.52 Billion |
| % of Total Assets | 48.18% |
| Annual Growth Rate | 8.92% |
| 5-Year Change | 38.67% |
| 10-Year Change | N/A |
| Growth Volatility | 4.56 |
Te Chang Construction Co Ltd - Net Assets Trend (2017–2024)
This chart illustrates how Te Chang Construction Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Te Chang Construction Co Ltd (2017–2024)
The table below shows the annual net assets of Te Chang Construction Co Ltd from 2017 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$6.18 Billion | +5.30% |
| 2023-12-31 | NT$5.87 Billion | +17.04% |
| 2022-12-31 | NT$5.01 Billion | +7.13% |
| 2021-12-31 | NT$4.68 Billion | +5.03% |
| 2020-12-31 | NT$4.46 Billion | +6.15% |
| 2019-12-31 | NT$4.20 Billion | +7.38% |
| 2018-12-31 | NT$3.91 Billion | +15.08% |
| 2017-12-31 | NT$3.40 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Te Chang Construction Co Ltd'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 83.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$3.89 Billion | 63.72% |
| Other Components | NT$2.22 Billion | 36.28% |
| Total Equity | NT$6.11 Billion | 100.00% |
Te Chang Construction Co Ltd Competitors by Market Cap
The table below lists competitors of Te Chang Construction Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Textile Holdings Co Ltd
SHE:200045
|
$147.99 Million |
|
Core Molding Technologies Inc
NYSE MKT:CMT
|
$148.03 Million |
|
Draganfly Inc
NASDAQ:DPRO
|
$148.04 Million |
|
Comintel Corporation Berhad
KLSE:7195
|
$148.06 Million |
|
Green Cross Lab Cell Corporation
KQ:144510
|
$147.96 Million |
|
Heilongjiang Publishing & Media Co Ltd
SHG:605577
|
$147.86 Million |
|
STRATUS PROPERTIES DL-01
F:SR5
|
$147.84 Million |
|
Universal Microelectronics Co Ltd
TW:2413
|
$147.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Te Chang Construction Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,800,195,000 to 6,105,256,000, a change of 305,061,000 (5.3%).
- Net income of 852,860,000 contributed positively to equity growth.
- Dividend payments of 567,200,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$852.86 Million | +13.97% |
| Dividends Paid | NT$567.20 Million | -9.29% |
| Other Changes | NT$19.40 Million | +0.32% |
| Total Change | NT$- | 5.26% |
Book Value vs Market Value Analysis
This analysis compares Te Chang Construction Co Ltd'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: 1.36x
- 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 2.45x to 1.36x 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$29.91 | NT$73.40 | x |
| 2018-12-31 | NT$33.58 | NT$73.40 | x |
| 2019-12-31 | NT$36.26 | NT$73.40 | x |
| 2020-12-31 | NT$38.14 | NT$73.40 | x |
| 2021-12-31 | NT$40.15 | NT$73.40 | x |
| 2022-12-31 | NT$43.11 | NT$73.40 | x |
| 2023-12-31 | NT$50.91 | NT$73.40 | x |
| 2024-12-31 | NT$53.82 | NT$73.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Te Chang Construction Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.97%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.08%
- • Asset Turnover: 0.74x
- • Equity Multiplier: 2.07x
- Recent ROE (13.97%) is above the historical average (12.66%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 8.64% | 7.31% | 0.48x | 2.46x | NT$-46.03 Million |
| 2018 | 13.54% | 9.57% | 0.59x | 2.38x | NT$135.02 Million |
| 2019 | 13.07% | 9.74% | 0.65x | 2.06x | NT$126.17 Million |
| 2020 | 10.96% | 8.84% | 0.54x | 2.30x | NT$41.87 Million |
| 2021 | 10.26% | 7.65% | 0.50x | 2.70x | NT$11.99 Million |
| 2022 | 11.02% | 6.39% | 0.66x | 2.63x | NT$50.23 Million |
| 2023 | 19.84% | 11.00% | 0.78x | 2.31x | NT$570.60 Million |
| 2024 | 13.97% | 9.08% | 0.74x | 2.07x | NT$242.33 Million |
Industry Comparison
This section compares Te Chang Construction Co Ltd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $5,170,391,600
- Average return on equity (ROE) among peers: 6.07%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Te Chang Construction Co Ltd (5511) | NT$6.52 Billion | 8.64% | 1.08x | $147.99 Million |
| Tri Ocean Textile Co Ltd (1472) | $333.36 Million | -10.62% | 2.04x | $47.78 Million |
| Ju-Kao Engineering Co., Ltd. (1594) | $297.75 Million | -0.44% | 0.99x | $1.54 Million |
| United Integrated Services Co Ltd (2404) | $6.61 Billion | 18.38% | 1.52x | $4.54 Billion |
| Long Bon International Co Ltd (2514) | $8.15 Billion | 2.95% | 0.61x | $63.02 Million |
| BES Engineering Co (2515) | $19.46 Billion | 1.31% | 1.00x | $632.27 Million |
| New Asia Construction & Development Corp (2516) | $2.41 Billion | 2.77% | 2.80x | $83.75 Million |
| Delpha Construction Co Ltd (2530) | $3.35 Billion | 17.30% | 0.87x | $263.82 Million |
| Da-Cin Construction Co Ltd (2535) | $7.35 Billion | 8.58% | 1.32x | $428.26 Million |
| Hwang Chang General Contractor Co Ltd (2543) | $1.87 Billion | 14.12% | 1.47x | $514.98 Million |
| Kedge Construction Co Ltd (2546) | $1.88 Billion | 6.30% | 1.33x | $163.03 Million |