Tacheng Real Estate Co Ltd (6171) - Net Assets
Based on the latest financial reports, Tacheng Real Estate Co Ltd (6171) has net assets worth NT$2.54 Billion TWD (≈ $79.89 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$4.32 Billion ≈ $136.14 Million USD) and total liabilities (NT$1.79 Billion ≈ $56.24 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 Tacheng Real Estate Co Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.54 Billion |
| % of Total Assets | 58.69% |
| Annual Growth Rate | 11.31% |
| 5-Year Change | 56.79% |
| 10-Year Change | N/A |
| Growth Volatility | 9.61 |
Tacheng Real Estate Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how Tacheng Real Estate Co Ltd's net assets have evolved over time, based on quarterly financial data. See defensive interval ratio of Tacheng Real Estate Co Ltd to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tacheng Real Estate Co Ltd (2017–2025)
The table below shows the annual net assets of Tacheng Real Estate Co Ltd from 2017 to 2025. For live valuation and market cap data, see Tacheng Real Estate Co Ltd (6171) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.54 Billion ≈ $79.89 Million |
+5.49% |
| 2024-12-31 | NT$2.40 Billion ≈ $75.74 Million |
+21.33% |
| 2023-12-31 | NT$1.98 Billion ≈ $62.42 Million |
+8.06% |
| 2022-12-31 | NT$1.83 Billion ≈ $57.76 Million |
+13.36% |
| 2021-12-31 | NT$1.62 Billion ≈ $50.96 Million |
+26.85% |
| 2020-12-31 | NT$1.27 Billion ≈ $40.17 Million |
+19.70% |
| 2019-12-31 | NT$1.07 Billion ≈ $33.56 Million |
-1.09% |
| 2018-12-31 | NT$1.08 Billion ≈ $33.93 Million |
+0.10% |
| 2017-12-31 | NT$1.08 Billion ≈ $33.89 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tacheng Real Estate 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 823.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.11 Billion | 43.88% |
| Other Components | NT$1.42 Billion | 56.12% |
| Total Equity | NT$2.54 Billion | 100.00% |
Tacheng Real Estate Co Ltd Competitors by Market Cap
The table below lists competitors of Tacheng Real Estate Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mastech Holdings Inc
NYSE MKT:MHH
|
$75.80 Million |
|
Investec plc
LSE:INVR
|
$75.83 Million |
|
WeConnect
PA:ALWEC
|
$75.85 Million |
|
Renergen Ltd.
JSE:REN
|
$75.87 Million |
|
Enterprise Group Inc
TO:E
|
$75.75 Million |
|
RoyalTek Co Ltd
TWO:3306
|
$75.73 Million |
|
IMPACT Silver Corp.
V:IPT
|
$75.62 Million |
|
Falcon Metals Ltd
AU:FAL
|
$75.61 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tacheng Real Estate Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,403,902,000 to 2,535,884,000, a change of 131,982,000 (5.5%).
- Net income of 381,982,000 contributed positively to equity growth.
- Dividend payments of 250,000,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$381.98 Million | +15.06% |
| Dividends Paid | NT$250.00 Million | -9.86% |
| Total Change | NT$- | 5.49% |
Book Value vs Market Value Analysis
This analysis compares Tacheng Real Estate 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: 0.95x
- 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 1.68x to 0.95x 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$14.28 | NT$24.05 | x |
| 2018-12-31 | NT$14.29 | NT$24.05 | x |
| 2019-12-31 | NT$14.14 | NT$24.05 | x |
| 2020-12-31 | NT$12.74 | NT$24.05 | x |
| 2021-12-31 | NT$16.17 | NT$24.05 | x |
| 2022-12-31 | NT$18.33 | NT$24.05 | x |
| 2023-12-31 | NT$19.81 | NT$24.05 | x |
| 2024-12-31 | NT$24.04 | NT$24.05 | x |
| 2025-12-31 | NT$25.36 | NT$24.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tacheng Real Estate Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.06%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 32.49%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 1.70x
- Recent ROE (15.06%) is above the historical average (13.39%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 3.68% | 7.15% | 0.37x | 1.39x | NT$-67.97 Million |
| 2018 | 2.20% | 8.31% | 0.18x | 1.45x | NT$-83.99 Million |
| 2019 | 0.31% | 1.94% | 0.07x | 2.21x | NT$-103.22 Million |
| 2020 | 18.23% | 18.98% | 0.36x | 2.64x | NT$104.92 Million |
| 2021 | 25.83% | 20.60% | 0.59x | 2.11x | NT$256.01 Million |
| 2022 | 18.87% | 17.80% | 0.60x | 1.76x | NT$162.70 Million |
| 2023 | 12.51% | 17.93% | 0.42x | 1.65x | NT$49.71 Million |
| 2024 | 23.82% | 31.48% | 0.39x | 1.93x | NT$332.27 Million |
| 2025 | 15.06% | 32.49% | 0.27x | 1.70x | NT$128.39 Million |
Industry Comparison
This section compares Tacheng Real Estate Co Ltd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $10,139,172,500
- Average return on equity (ROE) among peers: 8.31%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tacheng Real Estate Co Ltd (6171) | NT$2.54 Billion | 3.68% | 0.70x | $75.77 Million |
| HUA YU LIEN Development Co Ltd (1436) | $6.94 Billion | 13.92% | 2.12x | $249.74 Million |
| Advancetek Enterprise Co Ltd (1442) | $5.63 Billion | 9.97% | 0.84x | $317.29 Million |
| Better Life Group Co Ltd (1805) | $595.65 Million | 10.98% | 4.80x | $43.59 Million |
| Run Long Construction Co Ltd (1808) | $5.16 Billion | 17.64% | 2.23x | $897.52 Million |
| Jean Co Ltd (2442) | $2.26 Billion | 2.13% | 1.27x | $174.96 Million |
| Cathay Real Estate Development Co Ltd (2501) | $25.69 Billion | 11.49% | 1.22x | $940.71 Million |
| Kuo Yang Construction Co Ltd (2505) | $8.22 Billion | 0.69% | 1.26x | $222.08 Million |
| Pacific Construction Co Ltd (2506) | $4.76 Billion | 0.00% | 2.75x | $103.09 Million |
| Prince Housing & Development Corp (2511) | $25.77 Billion | 5.96% | 0.95x | $415.12 Million |
| King’s Town Construction Co Ltd (2524) | $16.37 Billion | 10.31% | 1.11x | $429.51 Million |
About Tacheng Real Estate Co Ltd
Tacheng Real Estate Co.,Ltd. engages in real estate development and construction-related businesses in Taiwan. It is involved in the residential construction; leasing and selling commercial buildings; wholesale and retail of building materials; and provision of landscape and interior design services. Tacheng Real Estate Co.,Ltd. was founded in 1984 and is based in Taichung, Taiwan.