Shinhsiung Natural Gas (8908) - Net Assets
Based on the latest financial reports, Shinhsiung Natural Gas (8908) has net assets worth NT$4.40 Billion TWD (≈ $138.70 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$11.00 Billion ≈ $346.47 Million USD) and total liabilities (NT$6.59 Billion ≈ $207.77 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 Shinhsiung Natural Gas asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$4.40 Billion |
| % of Total Assets | 40.03% |
| Annual Growth Rate | 11.46% |
| 5-Year Change | 57.76% |
| 10-Year Change | N/A |
| Growth Volatility | 2.08 |
Shinhsiung Natural Gas - Net Assets Trend (2017–2024)
This chart illustrates how Shinhsiung Natural Gas's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Shinhsiung Natural Gas for the complete picture of this company's asset base.
Annual Net Assets for Shinhsiung Natural Gas (2017–2024)
The table below shows the annual net assets of Shinhsiung Natural Gas from 2017 to 2024. For live valuation and market cap data, see 8908 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$4.31 Billion ≈ $135.88 Million |
+10.04% |
| 2023-12-31 | NT$3.92 Billion ≈ $123.48 Million |
+9.12% |
| 2022-12-31 | NT$3.59 Billion ≈ $113.15 Million |
+14.65% |
| 2021-12-31 | NT$3.13 Billion ≈ $98.70 Million |
+14.59% |
| 2020-12-31 | NT$2.73 Billion ≈ $86.13 Million |
+10.27% |
| 2019-12-31 | NT$2.48 Billion ≈ $78.11 Million |
+11.40% |
| 2018-12-31 | NT$2.23 Billion ≈ $70.12 Million |
+10.29% |
| 2017-12-31 | NT$2.02 Billion ≈ $63.57 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shinhsiung Natural Gas'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 43.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$690.83 Million | 16.40% |
| Other Components | NT$3.52 Billion | 83.60% |
| Total Equity | NT$4.21 Billion | 100.00% |
Shinhsiung Natural Gas Competitors by Market Cap
The table below lists competitors of Shinhsiung Natural Gas ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Morrow Bank ASA
OL:MOBA
|
$390.78 Million |
|
Jiangsu Holly Corp
SHG:600128
|
$390.78 Million |
|
Hamborner REIT AG
XETRA:HABA
|
$390.85 Million |
|
Cedar Development Co Ltd
SHE:002485
|
$390.86 Million |
|
PHOENIX N AG
SW:PMN
|
$390.72 Million |
|
BP p.l.c
LSE:BP-B
|
$390.70 Million |
|
ASTON MART.LA.UADR LS-001
F:A5S0
|
$390.66 Million |
|
Shin Poong Pharm.Co.Ltd.
KO:019170
|
$390.33 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shinhsiung Natural Gas's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,919,252,000 to 4,213,046,000, a change of 293,794,000 (7.5%).
- Net income of 573,367,000 contributed positively to equity growth.
- Dividend payments of 226,777,000 reduced retained earnings.
- Other factors decreased equity by 52,796,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$573.37 Million | +13.61% |
| Dividends Paid | NT$226.78 Million | -5.38% |
| Other Changes | NT$-52.80 Million | -1.25% |
| Total Change | NT$- | 7.50% |
Book Value vs Market Value Analysis
This analysis compares Shinhsiung Natural Gas'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: 2.95x
- 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 4.38x to 2.95x 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$9.00 | NT$39.45 | x |
| 2018-12-31 | NT$9.93 | NT$39.45 | x |
| 2019-12-31 | NT$11.06 | NT$39.45 | x |
| 2020-12-31 | NT$9.64 | NT$39.45 | x |
| 2021-12-31 | NT$11.05 | NT$39.45 | x |
| 2022-12-31 | NT$12.66 | NT$39.45 | x |
| 2023-12-31 | NT$13.82 | NT$39.45 | x |
| 2024-12-31 | NT$13.36 | NT$39.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shinhsiung Natural Gas 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): 13.61%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.03%
- • Asset Turnover: 0.84x
- • Equity Multiplier: 2.30x
- Recent ROE (13.61%) is below the historical average (14.43%), 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 | 13.30% | 4.47% | 1.39x | 2.14x | NT$66.66 Million |
| 2018 | 14.77% | 4.54% | 1.52x | 2.14x | NT$106.11 Million |
| 2019 | 16.21% | 4.86% | 1.53x | 2.18x | NT$153.87 Million |
| 2020 | 14.10% | 6.08% | 1.01x | 2.29x | NT$112.08 Million |
| 2021 | 15.44% | 7.45% | 0.92x | 2.26x | NT$170.38 Million |
| 2022 | 14.76% | 7.34% | 0.90x | 2.24x | NT$171.10 Million |
| 2023 | 13.26% | 7.47% | 0.79x | 2.25x | NT$127.72 Million |
| 2024 | 13.61% | 7.03% | 0.84x | 2.30x | NT$152.06 Million |
Industry Comparison
This section compares Shinhsiung Natural Gas's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $4,447,264,000
- Average return on equity (ROE) among peers: 10.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shinhsiung Natural Gas (8908) | NT$4.40 Billion | 13.30% | 1.50x | $390.76 Million |
| Hsin Tai Gas Co Ltd (8917) | $2.71 Billion | 14.31% | 1.10x | $268.01 Million |
| Great Taipei Gas Corp (9908) | $13.57 Billion | 5.71% | 0.39x | $467.09 Million |
| Shin Shin Natural Gas Co Ltd (9918) | $2.15 Billion | 9.51% | 0.48x | $242.56 Million |
| Shin Hai Gas Corp (9926) | $1.74 Billion | 11.70% | 0.58x | $279.37 Million |
| Hsin Kao Gas Co Ltd (9931) | $2.07 Billion | 9.33% | 1.15x | $132.16 Million |
About Shinhsiung Natural Gas
ShinHsiung Natural Gas Inc. supplies natural gas in Taiwan. The company operates through three segments: Gas Sale Department, Installation Department, and Solar Electricity Sale Department. It engages in the gas transmission conduits and equipment business; sale of electricity generated by solar energy; equity holding activities; buying, selling, and renting of real estate; solar energy optoelect… Read more