Max Zipper Co Ltd (8932) - Net Assets
Based on the latest financial reports, Max Zipper Co Ltd (8932) has net assets worth NT$2.44 Billion TWD (≈ $76.79 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$3.45 Billion ≈ $108.83 Million USD) and total liabilities (NT$1.02 Billion ≈ $32.04 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. Also explore 8932 total asset value for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.44 Billion |
| % of Total Assets | 70.56% |
| Annual Growth Rate | 24.83% |
| 5-Year Change | 245.97% |
| 10-Year Change | N/A |
| Growth Volatility | 28.48 |
Max Zipper Co Ltd - Net Assets Trend (2017–2025)
This chart illustrates how Max Zipper Co Ltd's net assets have evolved over time, based on quarterly financial data. Check Max Zipper Co Ltd (8932) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Max Zipper Co Ltd (2017–2025)
The table below shows the annual net assets of Max Zipper Co Ltd from 2017 to 2025. For live valuation and market cap data, see Max Zipper Co Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.44 Billion ≈ $76.79 Million |
+58.09% |
| 2024-12-31 | NT$1.54 Billion ≈ $48.57 Million |
+54.03% |
| 2023-12-31 | NT$1.00 Billion ≈ $31.53 Million |
+35.55% |
| 2022-12-31 | NT$738.41 Million ≈ $23.26 Million |
+4.82% |
| 2021-12-31 | NT$704.48 Million ≈ $22.19 Million |
+23.77% |
| 2020-12-31 | NT$569.20 Million ≈ $17.93 Million |
-7.00% |
| 2019-12-31 | NT$612.07 Million ≈ $19.28 Million |
-11.33% |
| 2018-12-31 | NT$690.30 Million ≈ $21.75 Million |
+67.00% |
| 2017-12-31 | NT$413.35 Million ≈ $13.02 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Max Zipper 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 88478300000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$840.94 Million | 36.95% |
| Other Components | NT$1.43 Billion | 63.05% |
| Total Equity | NT$2.28 Billion | 100.00% |
Max Zipper Co Ltd Competitors by Market Cap
The table below lists competitors of Max Zipper Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Stevanato Group SpA
NYSE:STVN
|
$986.74 Million |
|
Cascades Inc.
TO:CAS
|
$987.21 Million |
|
AMAG Austria Metall AG
VI:AMAG
|
$987.39 Million |
|
Railtel Corporation Of India Limited
NSE:RAILTEL
|
$987.45 Million |
|
Shenzhen Shenbao Industrial Co Ltd
SHE:000019
|
$985.81 Million |
|
Banco Products (I) Limited
NSE:BANCOINDIA
|
$985.76 Million |
|
ZJMI Environmental Energy Co. Ltd.
SHG:603071
|
$985.47 Million |
|
Shanxi Blue Flame Holding Co Ltd
SHE:000968
|
$985.37 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Max Zipper Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,461,416,000 to 2,275,727,000, a change of 814,311,000 (55.7%).
- Net income of 657,592,000 contributed positively to equity growth.
- Dividend payments of 46,250,000 reduced retained earnings.
- Share repurchases of 208,002,000 reduced equity.
- New share issuances of 360,000,000 increased equity.
- Other factors increased equity by 50,971,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$657.59 Million | +28.9% |
| Dividends Paid | NT$46.25 Million | -2.03% |
| Share Repurchases | NT$208.00 Million | -9.14% |
| Share Issuances | NT$360.00 Million | +15.82% |
| Other Changes | NT$50.97 Million | +2.24% |
| Total Change | NT$- | 55.72% |
Book Value vs Market Value Analysis
This analysis compares Max Zipper 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: 13.82x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 10.47x to 13.82x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$8.47 | NT$88.70 | x |
| 2018-12-31 | NT$14.15 | NT$88.70 | x |
| 2019-12-31 | NT$12.54 | NT$88.70 | x |
| 2020-12-31 | NT$11.66 | NT$88.70 | x |
| 2021-12-31 | NT$12.74 | NT$88.70 | x |
| 2022-12-31 | NT$12.13 | NT$88.70 | x |
| 2023-12-31 | NT$12.20 | NT$88.70 | x |
| 2024-12-31 | NT$4.17 | NT$88.70 | x |
| 2025-12-31 | NT$6.42 | NT$88.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Max Zipper Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 28.90%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.97%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 1.52x
- Recent ROE (28.90%) is above the historical average (6.63%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | -10.85% | -4.47% | 0.62x | 3.93x | NT$-86.19 Million |
| 2018 | 41.17% | 30.22% | 0.74x | 1.83x | NT$215.19 Million |
| 2019 | -8.44% | -5.77% | 0.74x | 1.99x | NT$-112.88 Million |
| 2020 | -8.55% | -6.09% | 0.71x | 1.99x | NT$-105.62 Million |
| 2021 | -9.50% | -7.10% | 0.59x | 2.26x | NT$-137.34 Million |
| 2022 | -3.93% | -3.63% | 0.53x | 2.05x | NT$-102.87 Million |
| 2023 | 9.08% | 9.17% | 0.55x | 1.79x | NT$-8.93 Million |
| 2024 | 21.80% | 21.31% | 0.61x | 1.67x | NT$172.42 Million |
| 2025 | 28.90% | 28.97% | 0.66x | 1.52x | NT$430.02 Million |
Industry Comparison
This section compares Max Zipper Co Ltd's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $3,710,478,900
- Average return on equity (ROE) among peers: 3.15%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Max Zipper Co Ltd (8932) | NT$2.44 Billion | -10.85% | 0.42x | $986.59 Million |
| Tah Hsin Industrial Corp (1315) | $11.57 Billion | 0.05% | 0.10x | $193.22 Million |
| Tex-Ray Industrial Co Ltd (1467) | $1.70 Billion | 9.64% | 0.87x | $68.75 Million |
| Tainan Enterprises Co Ltd (1473) | $4.82 Billion | 3.61% | 0.69x | $91.63 Million |
| Eclat Textile Co Ltd (1476) | $1.29 Billion | 6.85% | 0.79x | $2.99 Billion |
| Makalot Industrial Co Ltd (1477) | $3.39 Billion | 32.52% | 0.73x | $1.71 Billion |
| Munsin Garment (2916) | $915.83 Million | 9.10% | 0.38x | $81.24 Million |
| Cayman Tung Ling Co Ltd (2924) | $654.27 Million | -12.81% | 0.00x | $29.51 Million |
| TOPBI International Holdings Ltd (2929) | $2.91 Billion | 0.51% | 0.38x | $19.46 Million |
| Roo Hsing Co Ltd (4414) | $8.52 Billion | -22.42% | 1.25x | $69.81 Million |
| Hakers Enterprise Co Ltd (4432) | $1.33 Billion | 4.42% | 0.28x | $24.70 Million |
About Max Zipper Co Ltd
Wiselink Co., Ltd. manufactures and sells zippers under the MAX Zipper brand name worldwide. It offers invisible, coil, Delrin, and metal zippers and sliders; tape attachable and attach links, spring-lock, and plastic slider; and metal, plastic, cord, diamante, leather, and woven puller. The company's products are used in garment, sporting goods, leather bags, luggage, automobile seats cover, and… Read more