Shin Ruenn Development Co Ltd (6186) - Net Assets
Based on the latest financial reports, Shin Ruenn Development Co Ltd (6186) has net assets worth NT$5.08 Billion TWD (≈ $160.00 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$17.30 Billion ≈ $544.97 Million USD) and total liabilities (NT$12.22 Billion ≈ $384.97 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 6186 financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$5.08 Billion |
| % of Total Assets | 29.36% |
| Annual Growth Rate | 17.16% |
| 5-Year Change | 47.97% |
| 10-Year Change | N/A |
| Growth Volatility | 195.99 |
Shin Ruenn Development Co Ltd - Net Assets Trend (2017–2024)
This chart illustrates how Shin Ruenn Development Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Shin Ruenn Development Co Ltd (6186) total assets for the complete picture of this company's asset base.
Annual Net Assets for Shin Ruenn Development Co Ltd (2017–2024)
The table below shows the annual net assets of Shin Ruenn Development Co Ltd from 2017 to 2024. For live valuation and market cap data, see market value of Shin Ruenn Development Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$3.87 Billion ≈ $121.86 Million |
+21.00% |
| 2023-12-31 | NT$3.20 Billion ≈ $100.71 Million |
+3.76% |
| 2022-12-31 | NT$3.08 Billion ≈ $97.07 Million |
+7.23% |
| 2021-12-31 | NT$2.87 Billion ≈ $90.52 Million |
+9.91% |
| 2020-12-31 | NT$2.61 Billion ≈ $82.35 Million |
-72.65% |
| 2019-12-31 | NT$9.56 Billion ≈ $301.13 Million |
+551.11% |
| 2018-12-31 | NT$1.47 Billion ≈ $46.25 Million |
+15.00% |
| 2017-12-31 | NT$1.28 Billion ≈ $40.21 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shin Ruenn Development 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 185.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$975.44 Million | 25.22% |
| Other Components | NT$2.89 Billion | 74.78% |
| Total Equity | NT$3.87 Billion | 100.00% |
Shin Ruenn Development Co Ltd Competitors by Market Cap
The table below lists competitors of Shin Ruenn Development Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Armada Acquisition Corp. II
NASDAQ:XRPN
|
$245.64 Million |
|
Medeon Biodesign
TWO:6499
|
$245.65 Million |
|
Viridis Mining and Minerals Ltd
AU:VMM
|
$245.66 Million |
|
Bourse Direct SA
PA:BSD
|
$245.66 Million |
|
SILENCE THERAP. SP.ADR/1
F:XRP2
|
$245.62 Million |
|
Xponential Fitness Inc
NYSE:XPOF
|
$245.51 Million |
|
Hydratec Industries NV
AS:HYDRA
|
$245.38 Million |
|
Innoprise Plantations Bhd
KLSE:6262
|
$245.26 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shin Ruenn Development Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,196,730,000 to 3,867,983,000, a change of 671,253,000 (21.0%).
- Net income of 971,225,000 contributed positively to equity growth.
- Dividend payments of 299,972,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$971.23 Million | +25.11% |
| Dividends Paid | NT$299.97 Million | -7.76% |
| Total Change | NT$- | 21.00% |
Book Value vs Market Value Analysis
This analysis compares Shin Ruenn Development 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: 2.02x
- 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 2.52x to 2.02x 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$15.88 | NT$40.00 | x |
| 2018-12-31 | NT$13.37 | NT$40.00 | x |
| 2019-12-31 | NT$16.29 | NT$40.00 | x |
| 2020-12-31 | NT$22.18 | NT$40.00 | x |
| 2021-12-31 | NT$20.71 | NT$40.00 | x |
| 2022-12-31 | NT$20.94 | NT$40.00 | x |
| 2023-12-31 | NT$21.22 | NT$40.00 | x |
| 2024-12-31 | NT$19.85 | NT$40.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shin Ruenn Development Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 25.11%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.65%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 5.33x
- Recent ROE (25.11%) is above the historical average (12.57%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 0.45% | 0.51% | 0.24x | 3.71x | NT$-121.89 Million |
| 2018 | -2.31% | -2.53% | 0.23x | 3.99x | NT$-180.70 Million |
| 2019 | 23.53% | 15.08% | 0.29x | 5.34x | NT$242.05 Million |
| 2020 | 14.59% | 13.35% | 0.18x | 5.99x | NT$119.98 Million |
| 2021 | 14.63% | 10.57% | 0.25x | 5.44x | NT$133.01 Million |
| 2022 | 10.62% | 13.13% | 0.14x | 5.82x | NT$19.15 Million |
| 2023 | 13.94% | 12.19% | 0.18x | 6.20x | NT$126.04 Million |
| 2024 | 25.11% | 10.65% | 0.44x | 5.33x | NT$584.43 Million |
Industry Comparison
This section compares Shin Ruenn Development 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: $9,894,407,700
- Average return on equity (ROE) among peers: 5.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shin Ruenn Development Co Ltd (6186) | NT$5.08 Billion | 0.45% | 2.41x | $245.63 Million |
| HUA YU LIEN Development Co Ltd (1436) | $3.49 Billion | 0.00% | 0.01x | $271.78 Million |
| Advancetek Enterprise Co Ltd (1442) | $811.58 Million | 0.00% | 0.76x | $302.29 Million |
| Better Life Group Co Ltd (1805) | $774.41 Million | 26.79% | 1.31x | $46.14 Million |
| Run Long Construction Co Ltd (1808) | $5.07 Billion | 2.31% | 6.26x | $807.49 Million |
| Jean Co Ltd (2442) | $5.43 Billion | 5.80% | 3.72x | $161.67 Million |
| Cathay Real Estate Development Co Ltd (2501) | $26.33 Billion | 3.22% | 1.59x | $845.73 Million |
| Kuo Yang Construction Co Ltd (2505) | $10.28 Billion | 1.92% | 1.18x | $211.91 Million |
| Pacific Construction Co Ltd (2506) | $7.35 Billion | 0.16% | 0.96x | $101.27 Million |
| Prince Housing & Development Corp (2511) | $25.98 Billion | 2.28% | 0.78x | $408.47 Million |
| King’s Town Construction Co Ltd (2524) | $13.42 Billion | 12.34% | 1.69x | $423.74 Million |
About Shin Ruenn Development Co Ltd
Shin Ruenn development Co., LTD develops, trades in, leases, and sells real estate properties in Taiwan. It develops residential, building, and other real estate properties. The company was formerly known as Jinglay, Inc. and changed its name to Shin Ruenn development Co., LTD. in July 2011. Shin Ruenn development Co., LTD was founded in 1987 and is based in Taipei, Taiwan.