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Forth Smart Service PCLBKK:FSMART -2.53%68 Return-on-Tangible-Asset is 14.54% as of Mar. 2026, which is 0% above its 10-year median of 14.49. GuruFocus rates BKK:FSMART with a GF Score™ of 68/100 and a GF Value™ of ฿6.73 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 366 Telecommunication Services companies, Forth Smart Service PCL ranks better than 93.99% 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. Forth Smart Service PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿542 Mil. Forth Smart Service PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿3,727 Mil. Therefore, Forth Smart Service PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 14.54%.
The historical rank and industry rank for Forth Smart Service PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:FSMART'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.71 Med: 14.49 Max: 17.14
Current: 15.98
During the past 13 years, Forth Smart Service PCL's highest Return-on-Tangible-Asset was 17.14%. The lowest was 10.71%. And the median was 14.49%.
BKK:FSMART's Return-on-Tangible-Asset is ranked better than 93.99% of 366
companies
in the Telecommunication Services industry
Industry Median: 3.43
vs BKK:FSMART: 15.98
Forth Smart Service PCL (BKK:FSMART) 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.
Forth Smart Service PCL Return-on-Tangible-Asset Related Terms
Forth Smart Service PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Forth Smart Service PCL'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.
Forth Smart Service PCL Return-on-Tangible-Asset Chart
BKK:FSMART vs VZ, TMUS, T: Return-on-Tangible-Asset Comparison
For the Telecom Services subindustry, Forth Smart Service 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.
Forth Smart Service PCL Return-on-Tangible-Asset vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forth Smart Service PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Forth Smart Service 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 14.54% mean?
Forth Smart Service PCL (BKK:FSMART) has a Return-on-Tangible-Asset of 14.54% 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 Forth Smart Service PCL and its competitors. This is near median its historical median of 14.49. Over the past decade, Forth Smart Service PCL's Return-on-Tangible-Asset has ranged from 10.71 to 17.14. According to the industry distribution chart, Forth Smart Service PCL ranks #22 out of 366 companies in the Telecommunication Services industry, placing it in the top 6%.
Is Forth Smart Service PCL's Return-on-Tangible-Asset too high?
Forth Smart Service PCL's current Return-on-Tangible-Asset of 14.54% is near median its 10-year median of 14.49. Over the past 10 years, this metric has ranged from a low of 10.71 to a high of 17.14. The Telecommunication Services industry median Return-on-Tangible-Asset is 3.43. Forth Smart Service PCL's value of 14.54% is 323.9% above this industry median. Based on the distribution chart, Forth Smart Service PCL ranks #22 out of 366 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Forth Smart Service PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth Smart Service PCL's Return-on-Tangible-Asset compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forth Smart Service PCL ranks #22 out of 366 companies for Return-on-Tangible-Asset. This places Forth Smart Service PCL in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.43. Forth Smart Service PCL's value of 14.54% is 323.9% above this benchmark. Historically, Forth Smart Service PCL's own Return-on-Tangible-Asset has ranged from 10.71 to 17.14 over the past decade. While the company's 10-year median is 14.49 vs. the industry median of 3.43, Forth Smart Service 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 Telecommunication Services company?
The median Return-on-Tangible-Asset among Telecommunication Services companies is 3.43, based on 366 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. Forth Smart Service PCL's current Return-on-Tangible-Asset of 14.54% is 323.9% 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 Forth Smart Service PCL and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Asset is 3.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth Smart Service PCL's current Return-on-Tangible-Asset is 14.54%, which is near median its own 10-year median of 14.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth Smart Service PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth Smart Service PCL (BKK:FSMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.73, compared to a current price of ฿7.70 — trading 14.4% above its estimated fair value. The current Return-on-Tangible-Asset is 14.54%, which is near median its 10-year median of 14.49 and 323.9% above the Telecommunication Services industry median of 3.43. Forth Smart Service PCL's overall GF Score™ is 68/100 with 3 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 Forth Smart Service PCL (BKK:FSMART), the current Return-on-Tangible-Asset is 14.54% 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 Forth Smart Service PCL (BKK:FSMART) Overvalued in 2026?
Based on GuruFocus' analysis, Forth Smart Service PCL stock appears to be overvalued.
The current stock price of ฿7.70 is trading 14.4% above its estimated GF Value™ of ฿6.73.
GuruFocus considers Forth Smart Service PCL to be Modestly Overvalued.
Key valuation signals for BKK:FSMART:
Return-on-Tangible-Asset: 14.54% (near median its 10-year median of 14.49)
GF Value™: ฿6.73 vs. price of ฿7.70 (14.4% above fair value)
Industry Position: 323.9% above the Telecommunication Services median (#22 of 366)
No single metric tells the full story. See the BKK:FSMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Smart Service PCL is a Thailand-based company engaged in providing prepaid mobile top-up services, money transfer services, and online payment receipt services through electronic top-up machines. The company also provides advertising services through its online top-up machine network. It operates through two reportable segments: Top-up Machine, which provides mobile top-up, payment, and related services through automated machines; and Lending, which provides personal loans and nano finance services. It generates the majority of its revenue from the Top-up machine segment.
68GF Score
Get the complete analysis for BKK:FSMART
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