SPCG PCLBKK:SPCG-R 64 Return-on-Tangible-Asset is 2.36% as of Mar. 2026, which is 77% below its 10-year median of 10.24. GuruFocus rates BKK:SPCG-R with a GF Score™ of 64/100 and a GF Value™ of ฿6.00. The stock has 8 warning signs investors should review. Among 448 Utilities - Independent Power Producers companies, SPCG PCL ranks better than 55.13% 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. SPCG PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿450 Mil. SPCG PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿19,026 Mil. Therefore, SPCG PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.36%.
The historical rank and industry rank for SPCG PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:SPCG-R'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.75 Med: 10.24 Max: 12.58
Current: 1.75
During the past 13 years, SPCG PCL's highest Return-on-Tangible-Asset was 12.58%. The lowest was 1.75%. And the median was 10.24%.
BKK:SPCG-R's Return-on-Tangible-Asset is ranked better than 55.13% of 448
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.295
vs BKK:SPCG-R: 1.75
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.
SPCG PCL Return-on-Tangible-Asset Related Terms
SPCG PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for SPCG 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.
For the Utilities - Renewable subindustry, SPCG 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.
SPCG PCL Return-on-Tangible-Asset vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, SPCG PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SPCG 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 2.36% mean?
SPCG PCL (BKK:SPCG-R) has a Return-on-Tangible-Asset of 2.36% 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 SPCG PCL and its competitors. This is 77% below median its historical median of 10.24. Over the past decade, SPCG PCL's Return-on-Tangible-Asset has ranged from 1.75 to 12.58. According to the industry distribution chart, SPCG PCL ranks #201 out of 448 companies in the Utilities - Independent Power Producers industry, placing it in the top 44.9%.
Is SPCG PCL's Return-on-Tangible-Asset too high?
SPCG PCL's current Return-on-Tangible-Asset of 2.36% is 77% below median its 10-year median of 10.24. Over the past 10 years, this metric has ranged from a low of 1.75 to a high of 12.58. The Utilities - Independent Power Producers industry median Return-on-Tangible-Asset is 1.30. SPCG PCL's value of 2.36% is 82.2% above this industry median. Based on the distribution chart, SPCG PCL ranks #201 out of 448 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, SPCG PCL has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.
How does SPCG PCL's Return-on-Tangible-Asset compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, SPCG PCL ranks #201 out of 448 companies for Return-on-Tangible-Asset. This puts SPCG PCL in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.30. SPCG PCL's value of 2.36% is 82.2% above this benchmark. Historically, SPCG PCL's own Return-on-Tangible-Asset has ranged from 1.75 to 12.58 over the past decade. While the company's 10-year median is 10.24 vs. the industry median of 1.30, SPCG 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 an Utilities - Independent Power Producers company?
The median Return-on-Tangible-Asset among Utilities - Independent Power Producers companies is 1.30, based on 448 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. SPCG PCL's current Return-on-Tangible-Asset of 2.36% is 82.2% 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 SPCG PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Asset is 1.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPCG PCL's current Return-on-Tangible-Asset is 2.36%, which is 77% below median its own 10-year median of 10.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPCG PCL stock overvalued right now?
SPCG PCL (BKK:SPCG-R) has a current Return-on-Tangible-Asset of 2.36%. The stock's GF Value™ is ฿6.00, compared to a current price of ฿8.85 — trading 47.5% above its estimated fair value. The current Return-on-Tangible-Asset is 2.36%, which is 77% below median its 10-year median of 10.24 and 82.2% above the Utilities - Independent Power Producers industry median of 1.30. SPCG PCL's overall GF Score™ is 64/100 with 8 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 SPCG PCL (BKK:SPCG-R), the current Return-on-Tangible-Asset is 2.36% 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 SPCG PCL (BKK:SPCG-R) Overvalued in 2026?
Based on GuruFocus' analysis, SPCG PCL stock appears to be overvalued.
The current stock price of ฿8.85 is trading 47.5% above its estimated GF Value™ of ฿6.00.
Key valuation signals for BKK:SPCG-R:
Return-on-Tangible-Asset: 2.36% (77% below median its 10-year median of 10.24)
GF Value™: ฿6.00 vs. price of ฿8.85 (47.5% above fair value)
Industry Position: 82.2% above the Utilities - Independent Power Producers median (#201 of 448)
No single metric tells the full story. See the BKK:SPCG-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPCG PCL is a holding company. The principal activities and reportable segments of the group are one production and distribution of electricity from solar energy, second the manufacture, trading, and installation service of roof sheets and solar roof, and Others. The majority of revenue is generated from the Production and distribution of electricity from solar energy.
64GF Score
Get the complete analysis for BKK:SPCG-R
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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