North-Star International Co Ltd (8927) - Net Assets
Based on the latest financial reports, North-Star International Co Ltd (8927) has net assets worth NT$8.63 Billion TWD (≈ $271.84 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$33.92 Billion ≈ $1.07 Billion USD) and total liabilities (NT$25.29 Billion ≈ $796.78 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 North-Star International Co Ltd (8927) strategic asset index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$8.63 Billion |
| % of Total Assets | 25.44% |
| Annual Growth Rate | 19.28% |
| 5-Year Change | 128.24% |
| 10-Year Change | N/A |
| Growth Volatility | 27.48 |
North-Star International Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how North-Star International Co Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see North-Star International Co Ltd stock valuation.
Annual Net Assets for North-Star International Co Ltd (2017–2025)
The table below shows the annual net assets of North-Star International Co Ltd from 2017 to 2025. Also explore net asset growth rate of North-Star International Co Ltd to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$8.66 Billion ≈ $272.85 Million |
+0.64% |
| 2024-12-31 | NT$8.60 Billion ≈ $271.10 Million |
+6.20% |
| 2023-12-31 | NT$8.10 Billion ≈ $255.27 Million |
+76.09% |
| 2022-12-31 | NT$4.60 Billion ≈ $144.96 Million |
+21.27% |
| 2021-12-31 | NT$3.79 Billion ≈ $119.54 Million |
+59.63% |
| 2020-12-31 | NT$2.38 Billion ≈ $74.88 Million |
+8.21% |
| 2019-12-31 | NT$2.20 Billion ≈ $69.20 Million |
+1.35% |
| 2018-12-31 | NT$2.17 Billion ≈ $68.28 Million |
+2.55% |
| 2017-12-31 | NT$2.11 Billion ≈ $66.58 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to North-Star International 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 173.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$308.34 Million | 5.43% |
| Other Components | NT$5.37 Billion | 94.57% |
| Total Equity | NT$5.68 Billion | 100.00% |
North-Star International Co Ltd Competitors by Market Cap
The table below lists competitors of North-Star International Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Fifth Era Acquisition Corp I Class A Ordinary Shares
NASDAQ:FERA
|
$248.27 Million |
|
Strike Energy Limited
F:RJN
|
$248.28 Million |
|
Mastersystem Infotama Tbk.
JK:MSTI
|
$248.34 Million |
|
Master Tec Group Berhad
KLSE:0295
|
$248.41 Million |
|
Aurelius Technologies Bhd
KLSE:5302
|
$248.18 Million |
|
SIM Acquisition Corp. I Unit
NASDAQ:SIMAU
|
$248.17 Million |
|
Servicios Corporativos Javer
MX:JAVER
|
$247.96 Million |
|
Eaton Vance National Municipal Opportunities Closed Fund
NYSE:EOT
|
$247.81 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in North-Star International Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,710,768,000 to 5,679,080,000, a change of -31,688,000 (-0.6%).
- Net income of 152,471,000 contributed positively to equity growth.
- Dividend payments of 110,794,000 reduced retained earnings.
- Share repurchases of 110,303,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$152.47 Million | +2.68% |
| Dividends Paid | NT$110.79 Million | -1.95% |
| Share Repurchases | NT$110.30 Million | -1.94% |
| Other Changes | NT$36.94 Million | +0.65% |
| Total Change | NT$- | -0.55% |
Book Value vs Market Value Analysis
This analysis compares North-Star International 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: 1.42x
- 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 1.71x to 1.42x 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$10.98 | NT$18.80 | x |
| 2018-12-31 | NT$11.26 | NT$18.80 | x |
| 2019-12-31 | NT$11.35 | NT$18.80 | x |
| 2020-12-31 | NT$8.18 | NT$18.80 | x |
| 2021-12-31 | NT$14.52 | NT$18.80 | x |
| 2022-12-31 | NT$12.65 | NT$18.80 | x |
| 2023-12-31 | NT$16.37 | NT$18.80 | x |
| 2024-12-31 | NT$13.22 | NT$18.80 | x |
| 2025-12-31 | NT$13.28 | NT$18.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently North-Star International Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.68%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.42%
- • Asset Turnover: 0.31x
- • Equity Multiplier: 6.09x
- Recent ROE (2.68%) is below the historical average (3.96%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 3.85% | 1.90% | 1.15x | 1.76x | NT$-129.53 Million |
| 2018 | 3.54% | 1.46% | 1.28x | 1.90x | NT$-139.49 Million |
| 2019 | 2.43% | 1.03% | 1.01x | 2.34x | NT$-164.85 Million |
| 2020 | 5.28% | 2.73% | 0.66x | 2.93x | NT$-107.82 Million |
| 2021 | 4.28% | 2.80% | 0.60x | 2.56x | NT$-206.97 Million |
| 2022 | 3.18% | 1.95% | 0.40x | 4.05x | NT$-281.70 Million |
| 2023 | 2.11% | 1.46% | 0.26x | 5.44x | NT$-422.26 Million |
| 2024 | 8.32% | 3.79% | 0.38x | 5.79x | NT$-95.82 Million |
| 2025 | 2.68% | 1.42% | 0.31x | 6.09x | NT$-415.44 Million |
Industry Comparison
This section compares North-Star International Co Ltd's net assets metrics with peer companies in the Specialty Retail industry.
Industry Context
- Industry: Specialty Retail
- Average net assets among peers: $12,139,056,444
- Average return on equity (ROE) among peers: 10.97%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| North-Star International Co Ltd (8927) | NT$8.63 Billion | 3.85% | 2.93x | $248.22 Million |
| Tsann Kuen Enterprise Co Ltd (2430) | $4.54 Billion | 6.61% | 1.13x | $66.24 Million |
| Shan-Loong Transportation Co Ltd (2616) | $2.88 Billion | 7.37% | 0.95x | $56.74 Million |
| Collins Co Ltd (2906) | $4.37 Billion | 5.70% | 0.79x | $89.60 Million |
| Gseven Co Ltd (2937) | $543.00 Million | 8.18% | 1.55x | $60.98 Million |
| Taiwan Mobile Co Ltd (3045) | $87.80 Billion | 18.49% | 0.36x | $11.84 Billion |
| Scan-D (6195) | $1.30 Billion | 3.81% | 1.80x | $43.80 Million |
| E-Life Mall Corp (6281) | $2.16 Billion | 19.29% | 1.32x | $159.97 Million |
| Bon Fame Co Ltd (8433) | $1.51 Billion | 13.78% | 1.18x | $91.53 Million |
| National Petroleum Co Ltd (9937) | $4.16 Billion | 15.47% | 1.35x | $533.56 Million |
About North-Star International Co Ltd
North-Star International Co., LTD., together with its subsidiaries, engages in the retailing of petrol filling stations and gasoline products in Taiwan. The company operates through Gasoline Sales, Restaurant and Travel Service, Optoelectronics Business, and Other segments. It is also involved in the hotel and restaurant operations; real estate development and sales; renewable energy development … Read more