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Maruichi Steel TubeMCHIF +10.76%85 Return-on-Tangible-Asset is 9.20% as of Mar. 2026, which is 50% above its 10-year median of 6.13. GuruFocus rates MCHIF with a GF Score™ of 85/100 and a GF Value™ of $4.90. The stock has 8 warning signs investors should review. Among 634 Steel companies, Maruichi Steel Tube ranks better than 80.6% 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. Maruichi Steel Tube's annualizedNet Income for the quarter that ended in Mar. 2026 was $242 Mil. Maruichi Steel Tube's average total tangible assets for the quarter that ended in Mar. 2026 was $2,634 Mil. Therefore, Maruichi Steel Tube's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 9.20%.
The historical rank and industry rank for Maruichi Steel Tube's Return-on-Tangible-Asset or its related term are showing as below:
MCHIF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.02 Med: 6.13 Max: 7.96
Current: 6.42
During the past 13 years, Maruichi Steel Tube's highest Return-on-Tangible-Asset was 7.96%. The lowest was 2.02%. And the median was 6.13%.
MCHIF's Return-on-Tangible-Asset is ranked better than 80.6% of 634
companies
in the Steel industry
Industry Median: 2.015
vs MCHIF: 6.42
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.
Maruichi Steel Tube Return-on-Tangible-Asset Related Terms
Maruichi Steel Tube Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Maruichi Steel Tube'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.
MCHIF vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Maruichi Steel Tube'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.
Maruichi Steel Tube Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Maruichi Steel Tube's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Maruichi Steel Tube'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 9.20% mean?
Maruichi Steel Tube (MCHIF) has a Return-on-Tangible-Asset of 9.20% 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 Maruichi Steel Tube and its competitors. This is 50% above median its historical median of 6.13. Over the past decade, Maruichi Steel Tube's Return-on-Tangible-Asset has ranged from 2.02 to 7.96. According to the industry distribution chart, Maruichi Steel Tube ranks #123 out of 634 companies in the Steel industry, placing it in the top 19.4%.
Is Maruichi Steel Tube's Return-on-Tangible-Asset too high?
Maruichi Steel Tube's current Return-on-Tangible-Asset of 9.20% is 50% above median its 10-year median of 6.13. Over the past 10 years, this metric has ranged from a low of 2.02 to a high of 7.96. The Steel industry median Return-on-Tangible-Asset is 2.02. Maruichi Steel Tube's value of 9.20% is 356.6% above this industry median. Based on the distribution chart, Maruichi Steel Tube ranks #123 out of 634 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Maruichi Steel Tube has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does Maruichi Steel Tube's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Maruichi Steel Tube ranks #123 out of 634 companies for Return-on-Tangible-Asset. This places Maruichi Steel Tube in the top 19% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.02. Maruichi Steel Tube's value of 9.20% is 356.6% above this benchmark. Historically, Maruichi Steel Tube's own Return-on-Tangible-Asset has ranged from 2.02 to 7.96 over the past decade. While the company's 10-year median is 6.13 vs. the industry median of 2.02, Maruichi Steel Tube 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 2.02, based on 634 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. Maruichi Steel Tube's current Return-on-Tangible-Asset of 9.20% is 356.6% 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 Maruichi Steel Tube and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maruichi Steel Tube's current Return-on-Tangible-Asset is 9.20%, which is 50% above median its own 10-year median of 6.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruichi Steel Tube stock overvalued right now?
Maruichi Steel Tube (MCHIF) has a current Return-on-Tangible-Asset of 9.20%. The stock's GF Value™ is $4.90, compared to a current price of $7.31 — trading 49.2% above its estimated fair value. The current Return-on-Tangible-Asset is 9.20%, which is 50% above median its 10-year median of 6.13 and 356.6% above the Steel industry median of 2.02. Maruichi Steel Tube'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 Maruichi Steel Tube (MCHIF), the current Return-on-Tangible-Asset is 9.20% 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 Maruichi Steel Tube (MCHIF) Overvalued in 2026?
Based on GuruFocus' analysis, Maruichi Steel Tube stock appears to be overvalued.
The current stock price of $7.31 is trading 49.2% above its estimated GF Value™ of $4.90.
Key valuation signals for MCHIF:
Return-on-Tangible-Asset: 9.20% (50% above median its 10-year median of 6.13)
GF Value™: $4.90 vs. price of $7.31 (49.2% above fair value)
Industry Position: 356.6% above the Steel median (#123 of 634)
No single metric tells the full story. See the MCHIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maruichi Steel Tube Ltd is a Japan-based company that manufactures and sells steel tubes and steel sheet coating. The company's product portfolio includes welded steel tubes, hot-dip galvanized steel sheet, lighting poles, and prepainted steel sheet. Its products are used in architecture, civil engineering, machinery, power generation plants, automobiles, motorcycles, medical equipment, fitness machines, office automation equipment, office and educational furniture, and others.
85GF Score
Get the complete analysis for MCHIF
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