Ibase Gaming (6441) - Net Assets
Based on the latest financial reports, Ibase Gaming (6441) has net assets worth NT$1.15 Billion TWD (≈ $36.16 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$1.74 Billion ≈ $54.68 Million USD) and total liabilities (NT$588.10 Million ≈ $18.53 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 asset resilience ratio of Ibase Gaming to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.15 Billion |
| % of Total Assets | 66.12% |
| Annual Growth Rate | 6.71% |
| 5-Year Change | 11.23% |
| 10-Year Change | N/A |
| Growth Volatility | 35.72 |
Ibase Gaming - Net Assets Trend (2017–2024)
This chart illustrates how Ibase Gaming's net assets have evolved over time, based on quarterly financial data. Also explore Ibase Gaming balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Ibase Gaming (2017–2024)
The table below shows the annual net assets of Ibase Gaming from 2017 to 2024. For live valuation and market cap data, see Ibase Gaming stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$1.29 Billion ≈ $40.72 Million |
-9.85% |
| 2023-12-31 | NT$1.43 Billion ≈ $45.17 Million |
+37.70% |
| 2022-12-31 | NT$1.04 Billion ≈ $32.80 Million |
-18.46% |
| 2021-12-31 | NT$1.28 Billion ≈ $40.23 Million |
+9.89% |
| 2020-12-31 | NT$1.16 Billion ≈ $36.61 Million |
-16.76% |
| 2019-12-31 | NT$1.40 Billion ≈ $43.98 Million |
+86.82% |
| 2018-12-31 | NT$747.19 Million ≈ $23.54 Million |
-8.92% |
| 2017-12-31 | NT$820.39 Million ≈ $25.85 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Ibase Gaming'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 146.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | NT$1.43 Billion | 110.96% |
| Total Equity | NT$1.29 Billion | 100.00% |
Ibase Gaming Competitors by Market Cap
The table below lists competitors of Ibase Gaming ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
5TH PLANET GAMES DK -50
F:2HG1
|
$49.39 Million |
|
Manaksia Steels Limited
NSE:MANAKSTEEL
|
$49.40 Million |
|
Sachem Capital Corp
NYSE MKT:SACH
|
$49.41 Million |
|
Tadir-Gan (Precision Products) 1993 Ltd
TA:TDGN
|
$49.41 Million |
|
VirTra Inc
NASDAQ:VTSI
|
$49.38 Million |
|
Yufo Electronics Co Ltd
TWO:6194
|
$49.38 Million |
|
Asian Phytoceuticals Public Company Limited
BK:APCO
|
$49.37 Million |
|
Mudajaya Group Bhd
KLSE:5085
|
$49.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ibase Gaming's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,432,222,000 to 1,291,003,000, a change of -141,219,000 (-9.9%).
- Net loss of 141,551,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-141.55 Million | -10.96% |
| Other Changes | NT$332.00K | +0.03% |
| Total Change | NT$- | -9.86% |
Book Value vs Market Value Analysis
This analysis compares Ibase Gaming'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: 1.21x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$23.88 | NT$29.40 | x |
| 2018-12-31 | NT$21.71 | NT$29.40 | x |
| 2019-12-31 | NT$19.75 | NT$29.40 | x |
| 2020-12-31 | NT$28.82 | NT$29.40 | x |
| 2021-12-31 | NT$22.99 | NT$29.40 | x |
| 2022-12-31 | NT$24.05 | NT$29.40 | x |
| 2023-12-31 | NT$28.96 | NT$29.40 | x |
| 2024-12-31 | NT$24.21 | NT$29.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ibase Gaming 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): -10.96%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -26.20%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.46x
- Recent ROE (-10.96%) is below the historical average (-0.57%), 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 | 18.56% | 10.81% | 1.36x | 1.27x | NT$70.23 Million |
| 2018 | 8.16% | 5.69% | 1.21x | 1.18x | NT$-13.73 Million |
| 2019 | 0.38% | 0.40% | 0.45x | 2.09x | NT$-64.46 Million |
| 2020 | -3.83% | -3.42% | 0.42x | 2.64x | NT$-153.82 Million |
| 2021 | -12.02% | -8.03% | 0.57x | 2.62x | NT$-224.36 Million |
| 2022 | 0.08% | 0.15% | 0.32x | 1.75x | NT$-103.27 Million |
| 2023 | -4.89% | -10.25% | 0.32x | 1.48x | NT$-213.20 Million |
| 2024 | -10.96% | -26.20% | 0.29x | 1.46x | NT$-270.65 Million |
Industry Comparison
This section compares Ibase Gaming's net assets metrics with peer companies in the Semiconductors industry.
Industry Context
- Industry: Semiconductors
- Average net assets among peers: $202,930,058,900
- Average return on equity (ROE) among peers: 7.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ibase Gaming (6441) | NT$1.15 Billion | 18.56% | 0.51x | $49.39 Million |
| Polylite Taiwan Co Ltd (1813) | $883.80 Million | -0.02% | 0.44x | $18.07 Million |
| United Microelectronics Corporation (2303) | $281.20 Billion | 18.22% | 0.65x | $30.66 Billion |
| Orient Semiconductor Electronics Ltd (2329) | $4.44 Billion | -3.97% | 3.02x | $1.14 Billion |
| Taiwan Semiconductor Manufacturing Co. Ltd. (2330) | $1.61 Trillion | 21.92% | 0.40x | $1.74 Trillion |
| Macronix International Co Ltd (2337) | $24.66 Billion | 22.38% | 0.79x | $8.99 Billion |
| Optotech Corp (2340) | $7.08 Billion | 9.72% | 0.77x | $524.91 Million |
| Mosel Vitelic Inc (2342) | $6.57 Billion | -10.87% | 0.51x | $166.75 Million |
| Winbond Electronics Corp (2344) | $60.28 Billion | 5.50% | 0.10x | $12.73 Billion |
| Silicon Integrated Systems Corp (2363) | $7.70 Billion | -2.92% | 0.01x | $843.70 Million |
| Realtek Semiconductor Corp (2379) | $22.11 Billion | 17.61% | 0.86x | $8.72 Billion |
About Ibase Gaming
Ibase Gaming Inc. designs, develops, manufactures, and sells gaming systems and energy storage equipment worldwide. It offers gaming solutions for lottery terminals, kiosks, and casino slots. The company also provides OEM and turnkey ODM solutions for terminals, cabinets, PC hardware, and gaming support peripherals. Ibase Gaming Inc. was founded in 2011 and is based in New Taipei City, Taiwan.