M.C.S. Steel PCLBKK:MCS 68 Return-on-Tangible-Asset is 6.69% as of Mar. 2026, which is 50% below its 10-year median of 13.27. GuruFocus rates BKK:MCS with a GF Score™ of 68/100 and a GF Value™ of ฿6.53 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 633 Steel companies, M.C.S. Steel PCL ranks better than 95.58% 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. M.C.S. Steel PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿390 Mil. M.C.S. Steel PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿5,827 Mil. Therefore, M.C.S. Steel PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 6.69%.
The historical rank and industry rank for M.C.S. Steel PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:MCS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.85 Med: 13.27 Max: 32.39
Current: 14.19
During the past 13 years, M.C.S. Steel PCL's highest Return-on-Tangible-Asset was 32.39%. The lowest was 1.85%. And the median was 13.27%.
BKK:MCS's Return-on-Tangible-Asset is ranked better than 95.58% of 633
companies
in the Steel industry
Industry Median: 2
vs BKK:MCS: 14.19
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.
M.C.S. Steel PCL Return-on-Tangible-Asset Related Terms
M.C.S. Steel PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for M.C.S. Steel 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.
BKK:MCS vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, M.C.S. Steel 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.
M.C.S. Steel PCL Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, M.C.S. Steel PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where M.C.S. Steel 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 6.69% mean?
M.C.S. Steel PCL (BKK:MCS) has a Return-on-Tangible-Asset of 6.69% 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 M.C.S. Steel PCL and its competitors. This is 50% below median its historical median of 13.27. Over the past decade, M.C.S. Steel PCL's Return-on-Tangible-Asset has ranged from 1.85 to 32.39. According to the industry distribution chart, M.C.S. Steel PCL ranks #28 out of 633 companies in the Steel industry, placing it in the top 4.4%.
Is M.C.S. Steel PCL's Return-on-Tangible-Asset too high?
M.C.S. Steel PCL's current Return-on-Tangible-Asset of 6.69% is 50% below median its 10-year median of 13.27. Over the past 10 years, this metric has ranged from a low of 1.85 to a high of 32.39. The Steel industry median Return-on-Tangible-Asset is 2.00. M.C.S. Steel PCL's value of 6.69% is 234.5% above this industry median. Based on the distribution chart, M.C.S. Steel PCL ranks #28 out of 633 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, M.C.S. Steel 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 M.C.S. Steel PCL's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, M.C.S. Steel PCL ranks #28 out of 633 companies for Return-on-Tangible-Asset. This places M.C.S. Steel PCL in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.00. M.C.S. Steel PCL's value of 6.69% is 234.5% above this benchmark. Historically, M.C.S. Steel PCL's own Return-on-Tangible-Asset has ranged from 1.85 to 32.39 over the past decade. While the company's 10-year median is 13.27 vs. the industry median of 2.00, M.C.S. Steel 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 2.00, based on 633 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. M.C.S. Steel PCL's current Return-on-Tangible-Asset of 6.69% is 234.5% 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 M.C.S. Steel PCL and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. M.C.S. Steel PCL's current Return-on-Tangible-Asset is 6.69%, which is 50% below median its own 10-year median of 13.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is M.C.S. Steel PCL stock overvalued right now?
Based on GuruFocus' analysis, M.C.S. Steel PCL (BKK:MCS) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.53, compared to a current price of ฿7.85 — trading 20.2% above its estimated fair value. The current Return-on-Tangible-Asset is 6.69%, which is 50% below median its 10-year median of 13.27 and 234.5% above the Steel industry median of 2.00. M.C.S. Steel PCL's overall GF Score™ is 68/100 with 5 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 M.C.S. Steel PCL (BKK:MCS), the current Return-on-Tangible-Asset is 6.69% 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 M.C.S. Steel PCL (BKK:MCS) Overvalued in 2026?
Based on GuruFocus' analysis, M.C.S. Steel PCL stock appears to be overvalued.
The current stock price of ฿7.85 is trading 20.2% above its estimated GF Value™ of ฿6.53.
GuruFocus considers M.C.S. Steel PCL to be Modestly Overvalued.
Key valuation signals for BKK:MCS:
Return-on-Tangible-Asset: 6.69% (50% below median its 10-year median of 13.27)
GF Value™: ฿6.53 vs. price of ฿7.85 (20.2% above fair value)
Industry Position: 234.5% above the Steel median (#28 of 633)
No single metric tells the full story. See the BKK:MCS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
M.C.S. Steel PCL is engaged in the production and distribution of structural steel products for building construction and residential development projects for sale. It provides and exports steel structure works for various projects. The company's services include engineering design, parts, and quality control. The company's product and services portfolio includes Fabrication and sale of structural steel of which substantial income is earned, Fabrication including installation of structural steel, and Rendering of services. The business operates in three geographical segments: Thailand, Japan, and China. Key revenue is earned from domestic sales.
68GF Score
Get the complete analysis for BKK:MCS
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
BKK:MCS has been successfully added to your 
