Japan Exchange GroupFRA:OSK +3.51%85 Return-on-Tangible-Asset is 0.03% as of Mar. 2026, which is 63% below its 10-year median of 0.08. GuruFocus rates FRA:OSK with a GF Score™ of 85/100 and a GF Value™ of €9.78 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 815 Capital Markets companies, Japan Exchange Group ranks worse than 67.98% 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. Japan Exchange Group's annualizedNet Income for the quarter that ended in Mar. 2026 was €133.0 Mil. Japan Exchange Group's average total tangible assets for the quarter that ended in Mar. 2026 was €391,069.9 Mil. Therefore, Japan Exchange Group's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.03%.
The historical rank and industry rank for Japan Exchange Group's Return-on-Tangible-Asset or its related term are showing as below:
FRA:OSK'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.06 Med: 0.08 Max: 0.12
Current: 0.1
During the past 13 years, Japan Exchange Group's highest Return-on-Tangible-Asset was 0.12%. The lowest was 0.06%. And the median was 0.08%.
FRA:OSK's Return-on-Tangible-Asset is ranked worse than 67.98% of 815
companies
in the Capital Markets industry
Industry Median: 1.54
vs FRA:OSK: 0.10
Japan Exchange Group (FRA:OSK) 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.
Japan Exchange Group Return-on-Tangible-Asset Related Terms
Japan Exchange Group Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Japan Exchange Group'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.
Japan Exchange Group Return-on-Tangible-Asset Chart
FRA:OSK vs SPGI, CME, MCO: Return-on-Tangible-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, Japan Exchange Group'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.
Japan Exchange Group Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Japan Exchange Group's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Japan Exchange Group'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 0.03% mean?
Japan Exchange Group (FRA:OSK) has a Return-on-Tangible-Asset of 0.03% 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 Japan Exchange Group and its competitors. This is 63% below median its historical median of 0.08. Over the past decade, Japan Exchange Group's Return-on-Tangible-Asset has ranged from 0.06 to 0.12. According to the industry distribution chart, Japan Exchange Group ranks #554 out of 815 companies in the Capital Markets industry, placing it in the top 68%.
Is Japan Exchange Group's Return-on-Tangible-Asset too high?
Japan Exchange Group's current Return-on-Tangible-Asset of 0.03% is 63% below median its 10-year median of 0.08. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 0.12. The Capital Markets industry median Return-on-Tangible-Asset is 1.54. Japan Exchange Group's value of 0.03% is 98.1% below this industry median. Based on the distribution chart, Japan Exchange Group ranks #554 out of 815 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Japan Exchange Group has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Exchange Group's Return-on-Tangible-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Japan Exchange Group ranks #554 out of 815 companies for Return-on-Tangible-Asset. This places Japan Exchange Group in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.54. Japan Exchange Group's value of 0.03% is 98.1% below this benchmark. Historically, Japan Exchange Group's own Return-on-Tangible-Asset has ranged from 0.06 to 0.12 over the past decade. While the company's 10-year median is 0.08 vs. the industry median of 1.54, Japan Exchange Group has consistently been below 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.54, based on 815 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. Japan Exchange Group's current Return-on-Tangible-Asset of 0.03% is 98.1% below 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 Japan Exchange Group and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Exchange Group's current Return-on-Tangible-Asset is 0.03%, which is 63% below median its own 10-year median of 0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, Japan Exchange Group (FRA:OSK) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.78, compared to a current price of €11.80 — trading 20.7% above its estimated fair value. The current Return-on-Tangible-Asset is 0.03%, which is 63% below median its 10-year median of 0.08 and 98.1% below the Capital Markets industry median of 1.54. Japan Exchange Group's overall GF Score™ is 85/100 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 Japan Exchange Group (FRA:OSK), the current Return-on-Tangible-Asset is 0.03% 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 Japan Exchange Group (FRA:OSK) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Exchange Group stock appears to be overvalued.
The current stock price of €11.80 is trading 20.7% above its estimated GF Value™ of €9.78.
GuruFocus considers Japan Exchange Group to be Modestly Overvalued.
Key valuation signals for FRA:OSK:
Return-on-Tangible-Asset: 0.03% (63% below median its 10-year median of 0.08)
GF Value™: €9.78 vs. price of €11.80 (20.7% above fair value)
Industry Position: 98.1% below the Capital Markets median (#554 of 815)
No single metric tells the full story. See the FRA:OSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Exchange Group is a vertically integrated securities exchange business, which includes the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. JPX ranks among the top five largest stock exchange operators in the world by market capitalization, and its Nikkei 225 and Topix derivatives products are some of the most widely traded derivatives products in the world.
85GF 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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