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Asia Plus Group Holdings PCLBKK:ASP 69 Return-on-Tangible-Asset is 3.78% as of Mar. 2026, which is 26% below its 10-year median of 5.12. GuruFocus rates BKK:ASP with a GF Score™ of 69/100 and a GF Value™ of ฿2.19 (Fairly Valued). The stock has 6 warning signs investors should review. Among 818 Capital Markets companies, Asia Plus Group Holdings PCL ranks better than 58.92% on this metric.
The historical rank and industry rank for Asia Plus Group Holdings PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:ASP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.85 Med: 5.12 Max: 8.59
Current: 2.36
During the past 13 years, Asia Plus Group Holdings PCL's highest Return-on-Tangible-Asset was 8.59%. The lowest was 1.85%. And the median was 5.12%.
BKK:ASP's Return-on-Tangible-Asset is ranked better than 58.92% of 818
companies
in the Capital Markets industry
Industry Median: 1.54
vs BKK:ASP: 2.36
Asia Plus Group Holdings PCL (BKK:ASP) Return-on-Tangible-Asset Explanation
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.
Asia Plus Group Holdings PCL Return-on-Tangible-Asset Related Terms
Asia Plus Group Holdings PCL Return-on-Tangible-Asset Historical Data
* 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.
Asia Plus Group Holdings PCL Return-on-Tangible-Asset Chart
BKK:ASP vs MS, GS, SCHW: Return-on-Tangible-Asset Comparison
For the Capital Markets subindustry, Asia Plus Group Holdings PCL'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.
Asia Plus Group Holdings PCL Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Asia Plus Group Holdings PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Asia Plus Group Holdings PCL'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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.78% mean?
Asia Plus Group Holdings PCL (BKK:ASP) has a Return-on-Tangible-Asset of 3.78% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Asia Plus Group Holdings PCL and its competitors. This is 26% below median its historical median of 5.12. Over the past decade, Asia Plus Group Holdings PCL's Return-on-Tangible-Asset has ranged from 1.85 to 8.59. According to the industry distribution chart, Asia Plus Group Holdings PCL ranks #336 out of 818 companies in the Capital Markets industry, placing it in the top 41.1%.
Is Asia Plus Group Holdings PCL's Return-on-Tangible-Asset too high?
Asia Plus Group Holdings PCL's current Return-on-Tangible-Asset of 3.78% is 26% below median its 10-year median of 5.12. Over the past 10 years, this metric has ranged from a low of 1.85 to a high of 8.59. The Capital Markets industry median Return-on-Tangible-Asset is 1.54. Asia Plus Group Holdings PCL's value of 3.78% is 145.5% above this industry median. Based on the distribution chart, Asia Plus Group Holdings PCL ranks #336 out of 818 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Asia Plus Group Holdings PCL has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asia Plus Group Holdings PCL's Return-on-Tangible-Asset compare to MS and GS?
According to the Capital Markets industry distribution chart, Asia Plus Group Holdings PCL ranks #336 out of 818 companies for Return-on-Tangible-Asset. This puts Asia Plus Group Holdings PCL in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.54. Asia Plus Group Holdings PCL's value of 3.78% is 145.5% above this benchmark. Historically, Asia Plus Group Holdings PCL's own Return-on-Tangible-Asset has ranged from 1.85 to 8.59 over the past decade. While the company's 10-year median is 5.12 vs. the industry median of 1.54, Asia Plus Group Holdings PCL 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.54, based on 818 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. Asia Plus Group Holdings PCL's current Return-on-Tangible-Asset of 3.78% is 145.5% 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 Asia Plus Group Holdings PCL and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Plus Group Holdings PCL's current Return-on-Tangible-Asset is 3.78%, which is 26% below median its own 10-year median of 5.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Plus Group Holdings PCL stock overvalued right now?
Based on GuruFocus' analysis, Asia Plus Group Holdings PCL (BKK:ASP) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.19, compared to a current price of ฿2.34 — trading 6.8% above its estimated fair value. The current Return-on-Tangible-Asset is 3.78%, which is 26% below median its 10-year median of 5.12 and 145.5% above the Capital Markets industry median of 1.54. Asia Plus Group Holdings PCL's overall GF Score™ is 69/100 with 6 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 Asia Plus Group Holdings PCL (BKK:ASP), the current Return-on-Tangible-Asset is 3.78% as of Mar. 2026. 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 Asia Plus Group Holdings PCL (BKK:ASP) Overvalued in 2026?
Based on GuruFocus' analysis, Asia Plus Group Holdings PCL stock appears to be overvalued.
The current stock price of ฿2.34 is trading 6.8% above its estimated GF Value™ of ฿2.19.
GuruFocus considers Asia Plus Group Holdings PCL to be Fairly Valued.
Key valuation signals for BKK:ASP:
Return-on-Tangible-Asset: 3.78% (26% below median its 10-year median of 5.12)
GF Value™: ฿2.19 vs. price of ฿2.34 (6.8% above fair value)
Industry Position: 145.5% above the Capital Markets median (#336 of 818)
No single metric tells the full story. See the BKK:ASP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asia Plus Group Holdings PCL is a Thailand-based company engaged in investing. It is involved in the business activities of securities brokerage, securities trading, investment advisory, underwriting, securities borrowing and lending, private fund management, mutual fund management, and venture capital management. All the business operations of the company are principally carried out in Thailand. The operating segments of the group are Securities and derivatives brokerage, Investment banking, Fund Management, Investment trading, and others. It generates the majority of its revenue from the Fund Management segment.
69GF Score
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