HIM International Music (8446) - Net Assets
Based on the latest financial reports, HIM International Music (8446) has net assets worth NT$2.23 Billion TWD (≈ $70.30 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$2.92 Billion ≈ $91.89 Million USD) and total liabilities (NT$685.28 Million ≈ $21.59 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 HIM International Music (8446) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.23 Billion |
| % of Total Assets | 76.51% |
| Annual Growth Rate | 8.2% |
| 5-Year Change | 42.09% |
| 10-Year Change | 99.35% |
| Growth Volatility | 4.21 |
HIM International Music - Net Assets Trend (2015–2025)
This chart illustrates how HIM International Music's net assets have evolved over time, based on quarterly financial data. Also explore 8446 current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for HIM International Music (2015–2025)
The table below shows the annual net assets of HIM International Music from 2015 to 2025. For live valuation and market cap data, see 8446 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.23 Billion ≈ $70.30 Million |
+5.80% |
| 2024-12-31 | NT$2.11 Billion ≈ $66.45 Million |
+15.88% |
| 2023-12-31 | NT$1.82 Billion ≈ $57.35 Million |
+10.35% |
| 2022-12-31 | NT$1.65 Billion ≈ $51.97 Million |
+5.03% |
| 2021-12-31 | NT$1.57 Billion ≈ $49.48 Million |
+11.48% |
| 2020-12-31 | NT$1.41 Billion ≈ $44.38 Million |
+6.03% |
| 2019-12-31 | NT$1.33 Billion ≈ $41.86 Million |
-0.32% |
| 2018-12-31 | NT$1.33 Billion ≈ $41.99 Million |
+7.83% |
| 2017-12-31 | NT$1.24 Billion ≈ $38.95 Million |
+10.43% |
| 2016-12-31 | NT$1.12 Billion ≈ $35.27 Million |
+10.29% |
| 2015-12-31 | NT$1.01 Billion ≈ $31.98 Million |
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Equity Component Analysis
This analysis shows how different components contribute to HIM International Music'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 187.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$856.67 Million | 38.39% |
| Other Components | NT$1.38 Billion | 61.61% |
| Total Equity | NT$2.23 Billion | 100.00% |
HIM International Music Competitors by Market Cap
The table below lists competitors of HIM International Music ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
mPLUS Corp
KQ:259630
|
$140.70 Million |
|
Salasar Techno Engineering Limited
NSE:SALASAR
|
$140.83 Million |
|
S&P Syndicate Public Company Limited
BK:SNP
|
$140.86 Million |
|
Fu Yu Property Co Ltd
TWO:4907
|
$140.89 Million |
|
Otello Corporation ASA
OL:OTEC
|
$140.50 Million |
|
Beijing Tongtech Co Ltd
SHE:300379
|
$140.42 Million |
|
Gabelli Healthcare & WellnessRx Trust
NYSE:GRX
|
$140.42 Million |
|
Abonmax Co Ltd
TW:2429
|
$140.34 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in HIM International Music's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,109,215,000 to 2,231,742,000, a change of 122,527,000 (5.8%).
- Net income of 545,179,000 contributed positively to equity growth.
- Dividend payments of 423,315,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$545.18 Million | +24.43% |
| Dividends Paid | NT$423.31 Million | -18.97% |
| Other Changes | NT$663.00K | +0.03% |
| Total Change | NT$- | 5.81% |
Book Value vs Market Value Analysis
This analysis compares HIM International Music'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: 2.00x
- 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 3.70x to 2.00x 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$22.79 | NT$84.40 | x |
| 2018-12-31 | NT$25.15 | NT$84.40 | x |
| 2019-12-31 | NT$25.08 | NT$84.40 | x |
| 2020-12-31 | NT$26.53 | NT$84.40 | x |
| 2021-12-31 | NT$29.62 | NT$84.40 | x |
| 2022-12-31 | NT$31.09 | NT$84.40 | x |
| 2023-12-31 | NT$34.32 | NT$84.40 | x |
| 2024-12-31 | NT$39.86 | NT$84.40 | x |
| 2025-12-31 | NT$42.18 | NT$84.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently HIM International Music 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): 24.43%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 50.26%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 1.31x
- Recent ROE (24.43%) is below the historical average (27.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 22.28% | 21.43% | 0.56x | 1.85x | NT$124.25 Million |
| 2016 | 25.18% | 17.20% | 0.68x | 2.15x | NT$169.41 Million |
| 2017 | 25.99% | 20.64% | 0.60x | 2.08x | NT$197.15 Million |
| 2018 | 35.96% | 28.22% | 0.69x | 1.85x | NT$345.47 Million |
| 2019 | 40.76% | 36.07% | 0.58x | 1.96x | NT$408.25 Million |
| 2020 | 35.88% | 43.38% | 0.39x | 2.12x | NT$364.37 Million |
| 2021 | 22.11% | 41.52% | 0.26x | 2.05x | NT$190.23 Million |
| 2022 | 19.06% | 35.02% | 0.29x | 1.90x | NT$149.35 Million |
| 2023 | 23.93% | 36.34% | 0.37x | 1.78x | NT$253.56 Million |
| 2024 | 28.70% | 44.02% | 0.47x | 1.37x | NT$394.51 Million |
| 2025 | 24.43% | 50.26% | 0.37x | 1.31x | NT$322.00 Million |
Industry Comparison
This section compares HIM International Music's net assets metrics with peer companies in the Entertainment industry.
Industry Context
- Industry: Entertainment
- Average net assets among peers: $1,859,496,000
- Average return on equity (ROE) among peers: 5.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| HIM International Music (8446) | NT$2.23 Billion | 22.28% | 0.31x | $140.70 Million |
| Deltamac Taiwan Co Ltd (6144) | $313.73 Million | -7.00% | 0.15x | $18.51 Million |
| Dafeng TV Ltd (6184) | $1.27 Billion | 19.49% | 0.10x | $224.43 Million |
| Taiwan Optical Platform Co Ltd (6464) | $6.55 Billion | 10.64% | 2.04x | $308.76 Million |
| Kuang Hong Arts Management (6596) | $708.10 Million | 31.58% | 0.49x | $119.72 Million |
| B’IN Live Co Ltd (6625) | $646.79 Million | -20.39% | 0.70x | $133.70 Million |
| Pili International Multimedia Co Ltd (8450) | $1.66 Billion | 0.25% | 0.28x | $26.67 Million |
About HIM International Music
HIM International Music Inc. engages in the recording and distribution of music. It also offers copyright licensing and artist management services. The company was founded in 1988 and is headquartered in Taipei, Taiwan.