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KeyenceFRA:KEE +0.81%100 Return-on-Tangible-Asset is 15.09% as of Mar. 2026, which is 15% above its 10-year median of 13.12. GuruFocus rates FRA:KEE with a GF Score™ of 100/100 and a GF Value™ of €424.23 (Fairly Valued). Among 2,501 Hardware companies, Keyence ranks better than 91.96% 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. Keyence's annualizedNet Income for the quarter that ended in Mar. 2026 was €2,922 Mil. Keyence's average total tangible assets for the quarter that ended in Mar. 2026 was €19,366 Mil. Therefore, Keyence's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 15.09%.
The historical rank and industry rank for Keyence's Return-on-Tangible-Asset or its related term are showing as below:
FRA:KEE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.28 Med: 13.12 Max: 17.01
Current: 13.06
During the past 13 years, Keyence's highest Return-on-Tangible-Asset was 17.01%. The lowest was 10.28%. And the median was 13.12%.
FRA:KEE's Return-on-Tangible-Asset is ranked better than 91.96% of 2501
companies
in the Hardware industry
Industry Median: 2.45
vs FRA:KEE: 13.06
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.
Keyence Return-on-Tangible-Asset Related Terms
Keyence Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Keyence'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.
FRA:KEE vs COHR, KEYS, GRMN: Return-on-Tangible-Asset Comparison
For the Scientific & Technical Instruments subindustry, Keyence'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.
Keyence Return-on-Tangible-Asset vs Hardware Industry
For the Hardware industry and Technology sector, Keyence's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Keyence'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 15.09% mean?
Keyence (FRA:KEE) has a Return-on-Tangible-Asset of 15.09% 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 Keyence and its competitors. This is 15% above median its historical median of 13.12. Over the past decade, Keyence's Return-on-Tangible-Asset has ranged from 10.28 to 17.01. According to the industry distribution chart, Keyence ranks #201 out of 2501 companies in the Hardware industry, placing it in the top 8%.
Is Keyence's Return-on-Tangible-Asset too high?
Keyence's current Return-on-Tangible-Asset of 15.09% is 15% above median its 10-year median of 13.12. Over the past 10 years, this metric has ranged from a low of 10.28 to a high of 17.01. The Hardware industry median Return-on-Tangible-Asset is 2.45. Keyence's value of 15.09% is 515.9% above this industry median. Based on the distribution chart, Keyence ranks #201 out of 2501 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Keyence has a GF Score™ of 100/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Keyence's Return-on-Tangible-Asset compare to COHR and KEYS?
According to the Hardware industry distribution chart, Keyence ranks #201 out of 2501 companies for Return-on-Tangible-Asset. This places Keyence in the top 8% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.45. Keyence's value of 15.09% is 515.9% above this benchmark. Historically, Keyence's own Return-on-Tangible-Asset has ranged from 10.28 to 17.01 over the past decade. While the company's 10-year median is 13.12 vs. the industry median of 2.45, Keyence 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 2.45, based on 2,501 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. Keyence's current Return-on-Tangible-Asset of 15.09% is 515.9% 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 Keyence and its competitors. For the Hardware industry, the median Return-on-Tangible-Asset is 2.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Keyence's current Return-on-Tangible-Asset is 15.09%, which is 15% above median its own 10-year median of 13.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keyence stock overvalued right now?
Based on GuruFocus' analysis, Keyence (FRA:KEE) is currently considered Fairly Valued. The stock's GF Value™ is €424.23, compared to a current price of €386.40 — trading 8.9% below its estimated fair value. The current Return-on-Tangible-Asset is 15.09%, which is 15% above median its 10-year median of 13.12 and 515.9% above the Hardware industry median of 2.45. Keyence's overall GF Score™ is 100/100. 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 Keyence (FRA:KEE), the current Return-on-Tangible-Asset is 15.09% 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 Keyence (FRA:KEE) Overvalued in 2026?
Based on GuruFocus' analysis, Keyence stock appears to be undervalued.
The current stock price of €386.40 is trading 8.9% below its estimated GF Value™ of €424.23.
GuruFocus considers Keyence to be Fairly Valued.
Key valuation signals for FRA:KEE:
Return-on-Tangible-Asset: 15.09% (15% above median its 10-year median of 13.12)
GF Value™: €424.23 vs. price of €386.40 (8.9% below fair value)
Industry Position: 515.9% above the Hardware median (#201 of 2501)
No single metric tells the full story. See the FRA:KEE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Keyence Corporation, founded in May 1974 by Takemitsu Takizaki and headquartered in Osaka, Japan, began as Lead Electric Co., Ltd. before rebranding to Keyence (derived from "KEY of sciENCE") in 1986. As a global leader in industrial automation, the company designs and manufactures a comprehensive range of high-precision products, including sensors (photoelectric, laser, proximity), machine vision systems, measurement instruments (laser displacement sensors, 3D scanners), control systems (PLCs, HMIs), laser markers, digital microscopes, and safety equipment.
100GF Score
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