Thai Solar Energy PCLBKK:TSE-R 41 Return-on-Tangible-Asset is 3.71% as of Mar. 2026, which is 10% above its 10-year median of 3.36. GuruFocus rates BKK:TSE-R with a GF Score™ of 41/100 and a GF Value™ of ฿0.76. The stock has 5 warning signs investors should review. Among 448 Utilities - Independent Power Producers companies, Thai Solar Energy PCL ranks worse than 58.93% 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 Solar Energy PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was ฿215 Mil. Thai Solar Energy PCL's average total tangible assets for the quarter that ended in Mar. 2026 was ฿5,803 Mil. Therefore, Thai Solar Energy PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.71%.
The historical rank and industry rank for Thai Solar Energy PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:TSE-R'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -24.08 Med: 3.36 Max: 9.7
Current: 0.56
During the past 13 years, Thai Solar Energy PCL's highest Return-on-Tangible-Asset was 9.70%. The lowest was -24.08%. And the median was 3.36%.
BKK:TSE-R's Return-on-Tangible-Asset is ranked worse than 58.93% of 448
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.295
vs BKK:TSE-R: 0.56
Thai Solar Energy PCL (BKK:TSE-R) 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.
Thai Solar Energy PCL Return-on-Tangible-Asset Related Terms
Thai Solar Energy PCL Return-on-Tangible-Asset Historical Data
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The historical data trend for Thai Solar Energy 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.
Thai Solar Energy PCL Return-on-Tangible-Asset Chart
Thai Solar Energy PCL Return-on-Tangible-Asset Competitor Comparison
For the Utilities - Renewable subindustry, Thai Solar Energy 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 Solar Energy PCL Return-on-Tangible-Asset vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Thai Solar Energy PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Thai Solar Energy 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 3.71% mean?
Thai Solar Energy PCL (BKK:TSE-R) has a Return-on-Tangible-Asset of 3.71% 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 Solar Energy PCL and its competitors. This is 10% above median its historical median of 3.36. According to the industry distribution chart, Thai Solar Energy PCL ranks #264 out of 448 companies in the Utilities - Independent Power Producers industry, placing it in the top 58.9%.
Is Thai Solar Energy PCL's Return-on-Tangible-Asset too high?
Thai Solar Energy PCL's current Return-on-Tangible-Asset of 3.71% is 10% above median its 10-year median of 3.36. The Utilities - Independent Power Producers industry median Return-on-Tangible-Asset is 1.30. Thai Solar Energy PCL's value of 3.71% is 186.5% above this industry median. Based on the distribution chart, Thai Solar Energy PCL ranks #264 out of 448 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Thai Solar Energy PCL has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Thai Solar Energy PCL's Return-on-Tangible-Asset compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Thai Solar Energy PCL ranks #264 out of 448 companies for Return-on-Tangible-Asset. This places Thai Solar Energy PCL in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.30. Thai Solar Energy PCL's value of 3.71% is 186.5% above this benchmark. While the company's 10-year median is 3.36 vs. the industry median of 1.30, Thai Solar Energy 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. Thai Solar Energy PCL's current Return-on-Tangible-Asset of 3.71% is 186.5% 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 Thai Solar Energy 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. Thai Solar Energy PCL's current Return-on-Tangible-Asset is 3.71%, which is 10% above median its own 10-year median of 3.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Solar Energy PCL stock overvalued right now?
Thai Solar Energy PCL (BKK:TSE-R) has a current Return-on-Tangible-Asset of 3.71%. The stock's GF Value™ is ฿0.76, compared to a current price of ฿0.61 — trading 20.3% below its estimated fair value. The current Return-on-Tangible-Asset is 3.71%, which is 10% above median its 10-year median of 3.36 and 186.5% above the Utilities - Independent Power Producers industry median of 1.30. Thai Solar Energy PCL's overall GF Score™ is 41/100 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 Thai Solar Energy PCL (BKK:TSE-R), the current Return-on-Tangible-Asset is 3.71% 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 Thai Solar Energy PCL (BKK:TSE-R) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Solar Energy PCL stock appears to be undervalued.
The current stock price of ฿0.61 is trading 20.3% below its estimated GF Value™ of ฿0.76.
Key valuation signals for BKK:TSE-R:
Return-on-Tangible-Asset: 3.71% (10% above median its 10-year median of 3.36)
GF Value™: ฿0.76 vs. price of ฿0.61 (20.3% below fair value)
Industry Position: 186.5% above the Utilities - Independent Power Producers median (#264 of 448)
No single metric tells the full story. See the BKK:TSE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Solar Energy PCL is engaged in the generation and distribution of electricity from solar power to the government and private sector. The company has its operational footprints in Thailand and Japan. Its operating segments are Domestic and International of which, the company generates a majority of its revenue from the Domestic segment. The firm's projects are Solar PV Farms Thailand, Solar PV Farms Japan, Solar PV Rooftop Plants Thailand and Biomass Power Plants.
41GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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