Song Shang Electronics Co Ltd (6156) - Net Assets
Based on the latest financial reports, Song Shang Electronics Co Ltd (6156) has net assets worth NT$3.03 Billion TWD (≈ $95.32 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$6.53 Billion ≈ $205.73 Million USD) and total liabilities (NT$3.50 Billion ≈ $110.41 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 Song Shang Electronics Co Ltd liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.03 Billion |
| % of Total Assets | 46.33% |
| Annual Growth Rate | 8.25% |
| 5-Year Change | 92.85% |
| 10-Year Change | N/A |
| Growth Volatility | 21.15 |
Song Shang Electronics Co Ltd - Net Assets Trend (2017–2024)
This chart illustrates how Song Shang Electronics Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Song Shang Electronics Co Ltd (6156) total assets for the complete picture of this company's asset base.
Annual Net Assets for Song Shang Electronics Co Ltd (2017–2024)
The table below shows the annual net assets of Song Shang Electronics Co Ltd from 2017 to 2024. For live valuation and market cap data, see market value of Song Shang Electronics Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.23 Billion ≈ $101.64 Million |
+57.10% |
| 2023-12-31 | NT$2.05 Billion ≈ $64.70 Million |
+8.91% |
| 2022-12-31 | NT$1.89 Billion ≈ $59.41 Million |
+8.90% |
| 2021-12-31 | NT$1.73 Billion ≈ $54.55 Million |
+3.50% |
| 2020-12-31 | NT$1.67 Billion ≈ $52.70 Million |
+6.95% |
| 2019-12-31 | NT$1.56 Billion ≈ $49.28 Million |
-18.65% |
| 2018-12-31 | NT$1.92 Billion ≈ $60.57 Million |
+3.78% |
| 2017-12-31 | NT$1.85 Billion ≈ $58.37 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Song Shang Electronics 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 132.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$730.22 Million | 31.56% |
| Other Components | NT$1.58 Billion | 68.44% |
| Total Equity | NT$2.31 Billion | 100.00% |
Song Shang Electronics Co Ltd Competitors by Market Cap
The table below lists competitors of Song Shang Electronics Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Top Systems-L
TA:TOPS
|
$68.16 Million |
|
Keum Kang Steel Co. Ltd
KQ:053260
|
$68.17 Million |
|
Brimag -L
TA:BRMG
|
$68.18 Million |
|
Epitomee Medical Ltd
TA:EPIT
|
$68.19 Million |
|
TY Holdings Co Ltd
KO:363280
|
$68.14 Million |
|
Loulis Mills S.A.
AT:KYLO
|
$68.14 Million |
|
TegoScience Inc
KQ:191420
|
$68.13 Million |
|
Lark Distilling Co. Ltd
AU:LRK
|
$68.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Song Shang Electronics Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,594,036,000 to 2,313,783,000, a change of 719,747,000 (45.2%).
- Net income of 211,494,000 contributed positively to equity growth.
- Dividend payments of 77,407,000 reduced retained earnings.
- New share issuances of 328,640,000 increased equity.
- Other factors increased equity by 257,020,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$211.49 Million | +9.14% |
| Dividends Paid | NT$77.41 Million | -3.35% |
| Share Issuances | NT$328.64 Million | +14.2% |
| Other Changes | NT$257.02 Million | +11.11% |
| Total Change | NT$- | 45.15% |
Book Value vs Market Value Analysis
This analysis compares Song Shang Electronics 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: 0.90x
- 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.
- The price-to-book ratio has decreased from 1.59x to 0.90x 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$12.60 | NT$20.05 | x |
| 2018-12-31 | NT$13.64 | NT$20.05 | x |
| 2019-12-31 | NT$14.16 | NT$20.05 | x |
| 2020-12-31 | NT$15.19 | NT$20.05 | x |
| 2021-12-31 | NT$16.30 | NT$20.05 | x |
| 2022-12-31 | NT$15.95 | NT$20.05 | x |
| 2023-12-31 | NT$17.42 | NT$20.05 | x |
| 2024-12-31 | NT$22.19 | NT$20.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Song Shang Electronics 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): 9.14%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.91%
- • Asset Turnover: 0.63x
- • Equity Multiplier: 2.94x
- Recent ROE (9.14%) is below the historical average (10.17%), 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 | 13.04% | 2.90% | 1.19x | 3.80x | NT$30.79 Million |
| 2018 | 12.18% | 2.87% | 1.21x | 3.50x | NT$24.13 Million |
| 2019 | 7.49% | 2.10% | 1.14x | 3.12x | NT$-28.90 Million |
| 2020 | 8.49% | 2.70% | 1.02x | 3.09x | NT$-19.00 Million |
| 2021 | 7.81% | 2.22% | 1.11x | 3.17x | NT$-29.13 Million |
| 2022 | 13.67% | 4.79% | 0.98x | 2.92x | NT$53.86 Million |
| 2023 | 9.54% | 4.62% | 0.74x | 2.79x | NT$-7.29 Million |
| 2024 | 9.14% | 4.91% | 0.63x | 2.94x | NT$-19.88 Million |
Industry Comparison
This section compares Song Shang Electronics Co Ltd's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $180,200,345,300
- Average return on equity (ROE) among peers: 7.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Song Shang Electronics Co Ltd (6156) | NT$3.03 Billion | 13.04% | 1.16x | $68.14 Million |
| Syncmold Enterprise Corp (1582) | $184.49 Million | 15.30% | 0.73x | $402.71 Million |
| Fulltech Fiber Glass (1815) | $6.49 Billion | 0.00% | 1.01x | $1.78 Billion |
| Delta Electronics Inc (2308) | $33.12 Billion | 20.11% | 0.96x | $177.18 Billion |
| Compeq Manufacturing Co Ltd (2313) | $15.84 Billion | 0.00% | 1.12x | $9.18 Billion |
| WUS Printed Circuit Co Ltd (2316) | $7.35 Billion | 5.63% | 0.71x | $643.07 Million |
| Hon Hai Precision Industry Co Ltd (2317) | $1.69 Trillion | 8.40% | 1.33x | $96.56 Billion |
| Yageo Corp (2327) | $27.35 Billion | 2.10% | 0.67x | $20.70 Billion |
| Pan-International Industrial Corp (2328) | $5.49 Billion | 6.90% | 0.48x | $809.19 Million |
| Chin-Poon Industrial Co Ltd (2355) | $10.10 Billion | 9.66% | 0.65x | $641.19 Million |
| Solomon Technology Corp (2359) | $4.90 Billion | 3.31% | 0.21x | $642.50 Million |
About Song Shang Electronics Co Ltd
Song Shang Electronics Co.,Ltd. manufactures and sells electronic components and related products. It offers magnetic components, such as coils, line filters, power chokes, transformers, and inductors primarily used in the adapter, LED TV, LCD TV, charger, game console, desktop, monitor, printer, lighting, communication, etc. applications. The company also provides printed circuit boards and wire… Read more