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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. Tokio Marine Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was €-8,024 Mil. Tokio Marine Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was €169,783 Mil. Therefore, Tokio Marine Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -4.73%.
The historical rank and industry rank for Tokio Marine Holdings's Return-on-Tangible-Asset or its related term are showing as below:
HAM:MH6'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.66 Med: 1.37 Max: 2.48
Current: 1.76
During the past 13 years, Tokio Marine Holdings's highest Return-on-Tangible-Asset was 2.48%. The lowest was 0.66%. And the median was 1.37%.
HAM:MH6's Return-on-Tangible-Asset is ranked worse than 62.25% of 506
companies
in the Insurance industry
Industry Median: 2.745
vs HAM:MH6: 1.76
Tokio Marine Holdings (HAM:MH6) 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.
Tokio Marine Holdings Return-on-Tangible-Asset Related Terms
Tokio Marine Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Tokio Marine Holdings'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.
Tokio Marine Holdings Return-on-Tangible-Asset Chart
HAM:MH6 vs CB, PGR, TRV: Return-on-Tangible-Asset Comparison
For the Insurance - Property & Casualty subindustry, Tokio Marine Holdings'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.
Tokio Marine Holdings Return-on-Tangible-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, Tokio Marine Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Tokio Marine Holdings'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 -4.73% mean?
Tokio Marine Holdings (HAM:MH6) has a Return-on-Tangible-Asset of -4.73% 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 Tokio Marine Holdings and its competitors. Over the past decade, Tokio Marine Holdings' Return-on-Tangible-Asset has ranged from 0.66 to 2.48. According to the industry distribution chart, Tokio Marine Holdings ranks #315 out of 506 companies in the Insurance industry, placing it in the top 62.3%.
Is Tokio Marine Holdings' Return-on-Tangible-Asset too high?
Tokio Marine Holdings' current Return-on-Tangible-Asset is -4.73%. Over the past 10 years, this metric has ranged from a low of 0.66 to a high of 2.48. Based on the distribution chart, Tokio Marine Holdings ranks #315 out of 506 companies in the Insurance industry, which is below the industry midpoint. Overall, Tokio Marine Holdings has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokio Marine Holdings' Return-on-Tangible-Asset compare to CB and PGR?
According to the Insurance industry distribution chart, Tokio Marine Holdings ranks #315 out of 506 companies for Return-on-Tangible-Asset. This places Tokio Marine Holdings in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.75. Historically, Tokio Marine Holdings' own Return-on-Tangible-Asset has ranged from 0.66 to 2.48 over the past decade. 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 Insurance company?
The median Return-on-Tangible-Asset among Insurance companies is 2.75, based on 506 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 Tokio Marine Holdings and its competitors. For the Insurance industry, the median Return-on-Tangible-Asset is 2.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokio Marine Holdings's current Return-on-Tangible-Asset is -4.73%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokio Marine Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tokio Marine Holdings (HAM:MH6) is currently considered Modestly Overvalued. The stock's GF Value™ is €34.05, compared to a current price of €43.26 — trading 27% above its estimated fair value. The current Return-on-Tangible-Asset is -4.73%. Tokio Marine Holdings' overall GF Score™ is 61/100 with 4 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 Tokio Marine Holdings (HAM:MH6), the current Return-on-Tangible-Asset is -4.73% 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 Tokio Marine Holdings (HAM:MH6) Overvalued in 2026?
Based on GuruFocus' analysis, Tokio Marine Holdings stock appears to be overvalued.
The current stock price of €43.26 is trading 27% above its estimated GF Value™ of €34.05.
GuruFocus considers Tokio Marine Holdings to be Modestly Overvalued.
Key valuation signals for HAM:MH6:
Return-on-Tangible-Asset: -4.73%
GF Value™: €34.05 vs. price of €43.26 (27% above fair value)
No single metric tells the full story. See the HAM:MH6 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dating back to 1879, Tokio Marine is the oldest insurance company in Japan and operated as its top property and casualty insurer for decades. Following industry consolidation, it now shares domestic dominance with MS and AD and Sompo. However, Tokio Marine remains by far the most valuable listed Japanese insurer by market capitalization. This premium valuation is driven by an aggressive unwinding of domestic cross-shareholdings and a highly profitable overseas portfolio. The majority of its international business is based in the United States, where it has acquired premium specialty insurers since 2008, including Philadelphia Consolidated, Delphi Financial, Tokio Marine HCC, and Privilege Underwriters Reciprocal Exchange, recently fortified by a capital alliance with Berkshire Hathaway.
61GF Score
Get the complete analysis for HAM:MH6
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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