Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
JoyceASX:JYC -0.84%85 Return-on-Tangible-Asset is 11.76% as of Dec. 2025, which is 36% above its 10-year median of 8.67. GuruFocus rates ASX:JYC with a GF Score™ of 85/100 and a GF Value™ of A$4.54 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,130 Retail - Cyclical companies, Joyce ranks better than 84.87% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Joyce's annualizedNet Income for the quarter that ended in Dec. 2025 was A$10.3 Mil. Joyce's average total tangible assets for the quarter that ended in Dec. 2025 was A$87.4 Mil. Therefore, Joyce's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 11.76%.
The historical rank and industry rank for Joyce's Return-on-Tangible-Asset or its related term are showing as below:
ASX:JYC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.11 Med: 8.67 Max: 13.17
Current: 11.09
During the past 13 years, Joyce's highest Return-on-Tangible-Asset was 13.17%. The lowest was -6.11%. And the median was 8.67%.
ASX:JYC's Return-on-Tangible-Asset is ranked better than 84.87% of 1130
companies
in the Retail - Cyclical industry
Industry Median: 2.92
vs ASX:JYC: 11.09
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Joyce Return-on-Tangible-Asset Related Terms
Joyce Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Joyce's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:JYC vs CASY, WSM, DKS: Return-on-Tangible-Asset Comparison
For the Specialty Retail subindustry, Joyce's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Joyce Return-on-Tangible-Asset vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Joyce's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Joyce's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 11.76% mean?
Joyce (ASX:JYC) has a Return-on-Tangible-Asset of 11.76% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Joyce and its competitors. This is 36% above median its historical median of 8.67. According to the industry distribution chart, Joyce ranks #171 out of 1130 companies in the Retail - Cyclical industry, placing it in the top 15.1%.
Is Joyce's Return-on-Tangible-Asset too high?
Joyce's current Return-on-Tangible-Asset of 11.76% is 36% above median its 10-year median of 8.67. The Retail - Cyclical industry median Return-on-Tangible-Asset is 2.92. Joyce's value of 11.76% is 302.7% above this industry median. Based on the distribution chart, Joyce ranks #171 out of 1130 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Joyce has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Joyce's Return-on-Tangible-Asset compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Joyce ranks #171 out of 1130 companies for Return-on-Tangible-Asset. This places Joyce in the top 15% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.92. Joyce's value of 11.76% is 302.7% above this benchmark. While the company's 10-year median is 8.67 vs. the industry median of 2.92, Joyce has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Retail - Cyclical company?
The median Return-on-Tangible-Asset among Retail - Cyclical companies is 2.92, based on 1,130 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Joyce's current Return-on-Tangible-Asset of 11.76% is 302.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Joyce and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Asset is 2.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Joyce's current Return-on-Tangible-Asset is 11.76%, which is 36% above median its own 10-year median of 8.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Joyce stock overvalued right now?
Based on GuruFocus' analysis, Joyce (ASX:JYC) is currently considered Modestly Overvalued. The stock's GF Value™ is A$4.54, compared to a current price of A$5.90 — trading 30% above its estimated fair value. The current Return-on-Tangible-Asset is 11.76%, which is 36% above median its 10-year median of 8.67 and 302.7% above the Retail - Cyclical industry median of 2.92. Joyce's overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Joyce (ASX:JYC), the current Return-on-Tangible-Asset is 11.76% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Joyce (ASX:JYC) Overvalued in 2026?
Based on GuruFocus' analysis, Joyce stock appears to be overvalued.
The current stock price of A$5.90 is trading 30% above its estimated GF Value™ of A$4.54.
GuruFocus considers Joyce to be Modestly Overvalued.
Key valuation signals for ASX:JYC:
Return-on-Tangible-Asset: 11.76% (36% above median its 10-year median of 8.67)
GF Value™: A$4.54 vs. price of A$5.90 (30% above fair value)
Industry Position: 302.7% above the Retail - Cyclical median (#171 of 1130)
No single metric tells the full story. See the ASX:JYC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Joyce Corp Ltd retails kitchen and wardrobe products in Australia. The group's operating segments are: Retail kitchen and wardrobe showrooms, Retail bedding-franchise operation, and Retail bedding stores - company-owned. The majority of its revenue is generated from the Retail kitchen and wardrobe showrooms segment, which includes the operation of Kitchen Connection and Wallspan stores across Australia.
85GF Score
Get the complete analysis for ASX:JYC
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:JYC has been successfully added to your 
