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Tokyo Electron DeviceFRA:8VR +2.54%70 Return-on-Tangible-Asset is 7.07% as of Mar. 2026, which is 60% above its 10-year median of 4.41. GuruFocus rates FRA:8VR with a GF Score™ of 70/100 and a GF Value™ of €16.72 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 2,503 Hardware companies, Tokyo Electron Device ranks better than 66.96% 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. Tokyo Electron Device's annualizedNet Income for the quarter that ended in Mar. 2026 was €61 Mil. Tokyo Electron Device's average total tangible assets for the quarter that ended in Mar. 2026 was €867 Mil. Therefore, Tokyo Electron Device's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 7.07%.
The historical rank and industry rank for Tokyo Electron Device's Return-on-Tangible-Asset or its related term are showing as below:
FRA:8VR'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.42 Med: 4.41 Max: 7
Current: 5.11
During the past 13 years, Tokyo Electron Device's highest Return-on-Tangible-Asset was 7.00%. The lowest was 1.42%. And the median was 4.41%.
FRA:8VR's Return-on-Tangible-Asset is ranked better than 66.96% of 2503
companies
in the Hardware industry
Industry Median: 2.44
vs FRA:8VR: 5.11
Tokyo Electron Device (FRA:8VR) 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.
Tokyo Electron Device Return-on-Tangible-Asset Related Terms
Tokyo Electron Device Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Tokyo Electron Device'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.
Tokyo Electron Device Return-on-Tangible-Asset Chart
FRA:8VR vs APH, GLW: Return-on-Tangible-Asset Comparison
For the Electronic Components subindustry, Tokyo Electron Device'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.
Tokyo Electron Device Return-on-Tangible-Asset vs Hardware Industry
For the Hardware industry and Technology sector, Tokyo Electron Device's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Tokyo Electron Device'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 7.07% mean?
Tokyo Electron Device (FRA:8VR) has a Return-on-Tangible-Asset of 7.07% 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 Tokyo Electron Device and its competitors. This is 60% above median its historical median of 4.41. Over the past decade, Tokyo Electron Device's Return-on-Tangible-Asset has ranged from 1.42 to 7.00. According to the industry distribution chart, Tokyo Electron Device ranks #827 out of 2503 companies in the Hardware industry, placing it in the top 33%.
Is Tokyo Electron Device's Return-on-Tangible-Asset too high?
Tokyo Electron Device's current Return-on-Tangible-Asset of 7.07% is 60% above median its 10-year median of 4.41. Over the past 10 years, this metric has ranged from a low of 1.42 to a high of 7.00. The Hardware industry median Return-on-Tangible-Asset is 2.44. Tokyo Electron Device's value of 7.07% is 189.8% above this industry median. Based on the distribution chart, Tokyo Electron Device ranks #827 out of 2503 companies in the Hardware industry, which is above the industry midpoint. Overall, Tokyo Electron Device has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Electron Device's Return-on-Tangible-Asset compare to APH and GLW?
According to the Hardware industry distribution chart, Tokyo Electron Device ranks #827 out of 2503 companies for Return-on-Tangible-Asset. This puts Tokyo Electron Device in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.44. Tokyo Electron Device's value of 7.07% is 189.8% above this benchmark. Historically, Tokyo Electron Device's own Return-on-Tangible-Asset has ranged from 1.42 to 7.00 over the past decade. While the company's 10-year median is 4.41 vs. the industry median of 2.44, Tokyo Electron Device 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 Hardware company?
The median Return-on-Tangible-Asset among Hardware companies is 2.44, based on 2,503 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. Tokyo Electron Device's current Return-on-Tangible-Asset of 7.07% is 189.8% 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 Tokyo Electron Device and its competitors. For the Hardware industry, the median Return-on-Tangible-Asset is 2.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Electron Device's current Return-on-Tangible-Asset is 7.07%, which is 60% above median its own 10-year median of 4.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Electron Device stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Electron Device (FRA:8VR) is currently considered Modestly Overvalued. The stock's GF Value™ is €16.72, compared to a current price of €20.83 — trading 24.6% above its estimated fair value. The current Return-on-Tangible-Asset is 7.07%, which is 60% above median its 10-year median of 4.41 and 189.8% above the Hardware industry median of 2.44. Tokyo Electron Device's overall GF Score™ is 70/100 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 Tokyo Electron Device (FRA:8VR), the current Return-on-Tangible-Asset is 7.07% 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 Tokyo Electron Device (FRA:8VR) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Electron Device stock appears to be overvalued.
The current stock price of €20.83 is trading 24.6% above its estimated GF Value™ of €16.72.
GuruFocus considers Tokyo Electron Device to be Modestly Overvalued.
Key valuation signals for FRA:8VR:
Return-on-Tangible-Asset: 7.07% (60% above median its 10-year median of 4.41)
GF Value™: €16.72 vs. price of €20.83 (24.6% above fair value)
Industry Position: 189.8% above the Hardware median (#827 of 2503)
No single metric tells the full story. See the FRA:8VR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Electron Device Ltd is engaged in the sales of semiconductor products, board computer products, software and other electronic components. It is also involved in the business of network and security solutions, storage solutions, and software solutions.
70GF 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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