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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Ares AsiaHKSE:00645 +3.23%40 Return-on-Tangible-Asset is -0.89% as of Mar. 2026. GuruFocus rates HKSE:00645 with a GF Score™ of 40/100 and a GF Value™ of HK$0.01 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 190 Other Energy Sources companies, Ares Asia ranks worse than 73.16% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Ares Asia's annualizedNet Income for the quarter that ended in Mar. 2026 was HK$-0.30 Mil. Ares Asia's average total tangible assets for the quarter that ended in Mar. 2026 was HK$33.38 Mil. Therefore, Ares Asia's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -0.89%.
The historical rank and industry rank for Ares Asia's Return-on-Tangible-Asset or its related term are showing as below:
HKSE:00645'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -36.29 Med: -4.81 Max: 0.25
Current: -16.21
During the past 13 years, Ares Asia's highest Return-on-Tangible-Asset was 0.25%. The lowest was -36.29%. And the median was -4.81%.
HKSE:00645's Return-on-Tangible-Asset is ranked worse than 73.16% of 190
companies
in the Other Energy Sources industry
Industry Median: 0.185
vs HKSE:00645: -16.21
Ares Asia (HKSE:00645) 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.
Ares Asia Return-on-Tangible-Asset Related Terms
Ares Asia Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Ares Asia'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.
Ares Asia Return-on-Tangible-Asset Competitor Comparison
For the Thermal Coal subindustry, Ares Asia'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.
Ares Asia Return-on-Tangible-Asset vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Ares Asia's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Ares Asia'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 two times the semi-annual (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -0.89% mean?
Ares Asia (HKSE:00645) has a Return-on-Tangible-Asset of -0.89% 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 Ares Asia and its competitors. According to the industry distribution chart, Ares Asia ranks #139 out of 190 companies in the Other Energy Sources industry, placing it in the top 73.2%.
Is Ares Asia's Return-on-Tangible-Asset too high?
Ares Asia's current Return-on-Tangible-Asset is -0.89%. Based on the distribution chart, Ares Asia ranks #139 out of 190 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, Ares Asia has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ares Asia's Return-on-Tangible-Asset compare to competitors?
According to the Other Energy Sources industry distribution chart, Ares Asia ranks #139 out of 190 companies for Return-on-Tangible-Asset. This places Ares Asia in the lower half of its industry. The industry median Return-on-Tangible-Asset is 0.19. 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 Other Energy Sources company?
The median Return-on-Tangible-Asset among Other Energy Sources companies is 0.19, based on 190 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 Ares Asia and its competitors. For the Other Energy Sources industry, the median Return-on-Tangible-Asset is 0.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ares Asia's current Return-on-Tangible-Asset is -0.89%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ares Asia stock overvalued right now?
Based on GuruFocus' analysis, Ares Asia (HKSE:00645) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.01, compared to a current price of HK$0.19 — trading 1820% above its estimated fair value. The current Return-on-Tangible-Asset is -0.89%. Ares Asia's overall GF Score™ is 40/100 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 Ares Asia (HKSE:00645), the current Return-on-Tangible-Asset is -0.89% 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 Ares Asia (HKSE:00645) Overvalued in 2026?
Based on GuruFocus' analysis, Ares Asia stock appears to be overvalued.
The current stock price of HK$0.19 is trading 1820% above its estimated GF Value™ of HK$0.01.
GuruFocus considers Ares Asia to be Significantly Overvalued.
Key valuation signals for HKSE:00645:
Return-on-Tangible-Asset: -0.89%
GF Value™: HK$0.01 vs. price of HK$0.19 (1820% above fair value)
No single metric tells the full story. See the HKSE:00645 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ares Asia Ltd is an investment holding company. The group is principally engaged in the business of coal trading, entailing the selling of coal purchased from various countries to Mainland China and other commodities trading, which encompasses supply chain management and risk management service. Its business falls under the primary segment of Coal and other trading. Geographically, the group has a business presence in Mainland China, Hong Kong, and other countries, of which maximum revenue is derived from Mainland China.
40GF Score
Get the complete analysis for HKSE:00645
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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