Icares Medicus Inc (6612) - Net Assets
Based on the latest financial reports, Icares Medicus Inc (6612) has net assets worth NT$1.97 Billion TWD (≈ $62.01 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$3.18 Billion ≈ $100.19 Million USD) and total liabilities (NT$1.21 Billion ≈ $38.17 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 tangible equity quality of Icares Medicus Inc to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$1.97 Billion |
| % of Total Assets | 61.9% |
| Annual Growth Rate | 24.7% |
| 5-Year Change | 139.77% |
| 10-Year Change | N/A |
| Growth Volatility | 27.21 |
Icares Medicus Inc - Net Assets Trend (2017–2025)
This chart illustrates how Icares Medicus Inc's net assets have evolved over time, based on quarterly financial data. See Icares Medicus Inc (6612) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Icares Medicus Inc (2017–2025)
The table below shows the annual net assets of Icares Medicus Inc from 2017 to 2025. For live valuation and market cap data, see 6612 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$1.97 Billion ≈ $62.01 Million |
+11.66% |
| 2024-12-31 | NT$1.76 Billion ≈ $55.54 Million |
+5.63% |
| 2023-12-31 | NT$1.67 Billion ≈ $52.58 Million |
+77.96% |
| 2022-12-31 | NT$937.76 Million ≈ $29.54 Million |
+14.24% |
| 2021-12-31 | NT$820.90 Million ≈ $25.86 Million |
+16.87% |
| 2020-12-31 | NT$702.42 Million ≈ $22.13 Million |
+7.56% |
| 2019-12-31 | NT$653.04 Million ≈ $20.57 Million |
+14.28% |
| 2018-12-31 | NT$571.42 Million ≈ $18.00 Million |
+69.78% |
| 2017-12-31 | NT$336.57 Million ≈ $10.60 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Icares Medicus Inc'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 1062.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$363.27 Million | 19.80% |
| Other Components | NT$1.47 Billion | 80.20% |
| Total Equity | NT$1.83 Billion | 100.00% |
Icares Medicus Inc Competitors by Market Cap
The table below lists competitors of Icares Medicus Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Eagle Cold Storage Enterprise Co Ltd
TWO:8905
|
$108.45 Million |
|
T.A.C. Consumer Public Company Limited
BK:TACC
|
$108.47 Million |
|
Smith Douglas Homes Corp.
NYSE:SDHC
|
$108.51 Million |
|
Suria Capital Holdings Bhd
KLSE:6521
|
$108.53 Million |
|
Iceland Seafood International hf.
IC:ICESEA
|
$108.43 Million |
|
RF Acquisition Corp II Unit
NASDAQ:RFAIU
|
$108.40 Million |
|
Elite Naturel Organik Gida Sanayi ve Ticaret AS
IS:ELITE
|
$108.39 Million |
|
Samhaellsbyggnadsbolaget i Norden AB Series D
ST:SBB-D
|
$108.39 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Icares Medicus Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,660,032,000 to 1,834,791,000, a change of 174,759,000 (10.5%).
- Net income of 51,231,000 contributed positively to equity growth.
- Dividend payments of 12,923,000 reduced retained earnings.
- New share issuances of 59,711,000 increased equity.
- Other factors increased equity by 76,740,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$51.23 Million | +2.79% |
| Dividends Paid | NT$12.92 Million | -0.7% |
| Share Issuances | NT$59.71 Million | +3.25% |
| Other Changes | NT$76.74 Million | +4.18% |
| Total Change | NT$- | 10.53% |
Book Value vs Market Value Analysis
This analysis compares Icares Medicus Inc'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: 1.88x
- 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 6.56x to 1.88x 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$11.08 | NT$72.70 | x |
| 2018-12-31 | NT$17.16 | NT$72.70 | x |
| 2019-12-31 | NT$18.48 | NT$72.70 | x |
| 2020-12-31 | NT$19.54 | NT$72.70 | x |
| 2021-12-31 | NT$21.86 | NT$72.70 | x |
| 2022-12-31 | NT$25.51 | NT$72.70 | x |
| 2023-12-31 | NT$45.08 | NT$72.70 | x |
| 2024-12-31 | NT$35.03 | NT$72.70 | x |
| 2025-12-31 | NT$38.62 | NT$72.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Icares Medicus Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.79%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.53%
- • Asset Turnover: 0.36x
- • Equity Multiplier: 1.73x
- Recent ROE (2.79%) is below the historical average (8.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 9.31% | 11.74% | 0.66x | 1.20x | NT$-2.32 Million |
| 2018 | 12.36% | 21.40% | 0.53x | 1.08x | NT$13.45 Million |
| 2019 | 12.99% | 19.32% | 0.53x | 1.27x | NT$18.67 Million |
| 2020 | 7.80% | 14.31% | 0.43x | 1.27x | NT$-14.68 Million |
| 2021 | 7.85% | 14.88% | 0.41x | 1.29x | NT$-16.08 Million |
| 2022 | 14.67% | 25.19% | 0.49x | 1.19x | NT$41.04 Million |
| 2023 | 6.19% | 16.14% | 0.32x | 1.21x | NT$-60.07 Million |
| 2024 | 6.21% | 11.99% | 0.29x | 1.81x | NT$-62.88 Million |
| 2025 | 2.79% | 4.53% | 0.36x | 1.73x | NT$-132.25 Million |
Industry Comparison
This section compares Icares Medicus Inc's net assets metrics with peer companies in the Medical Instruments & Supplies industry.
Industry Context
- Industry: Medical Instruments & Supplies
- Average net assets among peers: $2,238,349,800
- Average return on equity (ROE) among peers: 9.32%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Icares Medicus Inc (6612) | NT$1.97 Billion | 9.31% | 0.62x | $108.43 Million |
| St.Shine Optical Co Ltd (1565) | $6.27 Billion | 16.26% | 0.32x | $149.63 Million |
| Maxigen Biotech Inc (1783) | $851.32 Million | 7.06% | 0.39x | $108.92 Million |
| SciVision Biotech Inc (1786) | $894.21 Million | -2.94% | 0.52x | $127.07 Million |
| Bioteque (4107) | $3.61 Billion | 14.95% | 0.29x | $254.35 Million |
| Chi Sheng Chemical (4111) | $1.22 Billion | 12.60% | 0.47x | $56.65 Million |
| BenQ Medical Technology (4116) | $1.74 Billion | 10.38% | 0.96x | $52.93 Million |
| Pacific Hospital Supply Co Ltd (4126) | $1.64 Billion | 19.09% | 0.21x | $184.36 Million |
| Bionime Corp (4737) | $1.76 Billion | -10.27% | 2.25x | $136.84 Million |
| Vizionfocus Inc. (4771) | $2.02 Billion | 15.48% | 0.59x | $344.96 Million |
| Formosa Optical Technology Co Ltd (5312) | $2.38 Billion | 10.63% | 0.86x | $184.49 Million |
About Icares Medicus Inc
ICARES Medicus, Inc., together with its subsidiaries, engages in the research, development, manufacturing, and sale of ophthalmic medical devices in Taiwan, the United States, United Kingdom, Japan, Spain, China, Germany, and internationally. The company is also involved in the manufacturing, sales, and service of intraocular lenses (IOLs) and its implantation systems for use in treating cataract… Read more