Netbay PCLBKK:NETBAY -1.02%78 Return-on-Tangible-Asset is 19.99% as of Mar. 2026, which is 23% below its 10-year median of 25.94. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.54 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,881 Software companies, Netbay PCL ranks better than 96.98% 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. Netbay PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿134.6 Mil. Netbay PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿673.6 Mil. Therefore, Netbay PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 19.99%.
The historical rank and industry rank for Netbay PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:NETBAY'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 23.2 Med: 25.94 Max: 37.59
Current: 33.19
During the past 11 years, Netbay PCL's highest Return-on-Tangible-Asset was 37.59%. The lowest was 23.20%. And the median was 25.94%.
BKK:NETBAY's Return-on-Tangible-Asset is ranked better than 96.98% of 2881
companies
in the Software industry
Industry Median: 2.02
vs BKK:NETBAY: 33.19
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.
Netbay PCL Return-on-Tangible-Asset Related Terms
Netbay PCL Return-on-Tangible-Asset Historical Data
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The historical data trend for Netbay 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:NETBAY vs UBER, SHOP, CRM: Return-on-Tangible-Asset Comparison
For the Software - Application subindustry, Netbay 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.
Netbay PCL Return-on-Tangible-Asset vs Software Industry
For the Software industry and Technology sector, Netbay PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Netbay 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 19.99% mean?
Netbay PCL (BKK:NETBAY) has a Return-on-Tangible-Asset of 19.99% 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 Netbay PCL and its competitors. This is 23% below median its historical median of 25.94. Over the past decade, Netbay PCL's Return-on-Tangible-Asset has ranged from 23.20 to 37.59. According to the industry distribution chart, Netbay PCL ranks #87 out of 2881 companies in the Software industry, placing it in the top 3%.
Is Netbay PCL's Return-on-Tangible-Asset too high?
Netbay PCL's current Return-on-Tangible-Asset of 19.99% is 23% below median its 10-year median of 25.94. Over the past 10 years, this metric has ranged from a low of 23.20 to a high of 37.59. The Software industry median Return-on-Tangible-Asset is 2.02. Netbay PCL's value of 19.99% is 889.6% above this industry median. Based on the distribution chart, Netbay PCL ranks #87 out of 2881 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Return-on-Tangible-Asset compare to UBER and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #87 out of 2881 companies for Return-on-Tangible-Asset. This places Netbay PCL in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.02. Netbay PCL's value of 19.99% is 889.6% above this benchmark. Historically, Netbay PCL's own Return-on-Tangible-Asset has ranged from 23.20 to 37.59 over the past decade. While the company's 10-year median is 25.94 vs. the industry median of 2.02, Netbay 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 Software company?
The median Return-on-Tangible-Asset among Software companies is 2.02, based on 2,881 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. Netbay PCL's current Return-on-Tangible-Asset of 19.99% is 889.6% 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 Netbay PCL and its competitors. For the Software industry, the median Return-on-Tangible-Asset is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Return-on-Tangible-Asset is 19.99%, which is 23% below median its own 10-year median of 25.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.54, compared to a current price of ฿9.75 — trading 54.7% below its estimated fair value. The current Return-on-Tangible-Asset is 19.99%, which is 23% below median its 10-year median of 25.94 and 889.6% above the Software industry median of 2.02. Netbay PCL's overall GF Score™ is 78/100 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 Netbay PCL (BKK:NETBAY), the current Return-on-Tangible-Asset is 19.99% 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?
Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued.
The current stock price of ฿9.75 is trading 54.7% below its estimated GF Value™ of ฿21.54.
GuruFocus considers Netbay PCL to be Significantly Undervalued.
Key valuation signals for BKK:NETBAY:
Return-on-Tangible-Asset: 19.99% (23% below median its 10-year median of 25.94)
GF Value™: ฿21.54 vs. price of ฿9.75 (54.7% below fair value)
Industry Position: 889.6% above the Software median (#87 of 2881)
No single metric tells the full story. See the BKK:NETBAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF Score
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