Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Thai-German Products PCLBKK:TGPRO Return-on-Tangible-Asset is -4.16% as of Mar. 2026. The stock has 4 warning signs investors should review. Among 634 Steel companies, Thai-German Products PCL ranks worse than 86.59% 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. Thai-German Products PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿-107 Mil. Thai-German Products PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿2,581 Mil. Therefore, Thai-German Products PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -4.16%.
The historical rank and industry rank for Thai-German Products PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:TGPRO'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -8.94 Med: -0.89 Max: 2.55
Current: -5.4
During the past 13 years, Thai-German Products PCL's highest Return-on-Tangible-Asset was 2.55%. The lowest was -8.94%. And the median was -0.89%.
BKK:TGPRO's Return-on-Tangible-Asset is ranked worse than 86.59% of 634
companies
in the Steel industry
Industry Median: 2.055
vs BKK:TGPRO: -5.40
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.
Thai-German Products PCL Return-on-Tangible-Asset Related Terms
Thai-German Products PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Thai-German Products 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:TGPRO vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Thai-German Products 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.
Thai-German Products PCL Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Thai-German Products PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Thai-German Products 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 -4.16% mean?
Thai-German Products PCL (BKK:TGPRO) has a Return-on-Tangible-Asset of -4.16% 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 Thai-German Products PCL and its competitors. According to the industry distribution chart, Thai-German Products PCL ranks #549 out of 634 companies in the Steel industry, placing it in the top 86.6%.
Is Thai-German Products PCL's Return-on-Tangible-Asset too high?
Thai-German Products PCL's current Return-on-Tangible-Asset is -4.16%. Based on the distribution chart, Thai-German Products PCL ranks #549 out of 634 companies in the Steel industry, which is in the bottom quartile relative to peers.
How does Thai-German Products PCL's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Thai-German Products PCL ranks #549 out of 634 companies for Return-on-Tangible-Asset. This places Thai-German Products PCL in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.06. 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 2.06, based on 634 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. 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 Thai-German Products PCL and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai-German Products PCL's current Return-on-Tangible-Asset is -4.16%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai-German Products PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai-German Products PCL (BKK:TGPRO) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.09, compared to a current price of ฿0.03 — trading 66.7% below its estimated fair value. The current Return-on-Tangible-Asset is -4.16%. 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 Thai-German Products PCL (BKK:TGPRO), the current Return-on-Tangible-Asset is -4.16% 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.
Thai-German Products PCL is engaged in the business of manufacturing and distribution of stainless steel products such as pipe, axle, and other equipment, under trademark by TGPRO. It has four operating segments: the Stainless and service selling segment, which is the key revenue driver, includes steel pipes, steel sheets, steel shafts, and steel fittings; the Stereo sales segment sells stereo equipment, telephone equipment, and spare parts; an agriculture selling segment includes vegetables and seed; and Food sales Segment, which comprises of food sales, coffee and bakery shops, and steakhouse restaurants. It sells its product in Thailand and other countries, of which a majority of the revenue is generated from the Thailand market, and also has its presence in other countries.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:TGPRO has been successfully added to your 
