Manila Water CoPHS:MWC +2.86%93 Return-on-Tangible-Asset is 36.41% as of Mar. 2026, which is 123% above its 10-year median of 16.30. GuruFocus rates PHS:MWC with a GF Score™ of 93/100 and a GF Value™ of ₱36.08 (Fairly Valued). The stock has 4 warning signs investors should review. Among 511 Utilities - Regulated companies, Manila Water Co ranks better than 98.63% 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. Manila Water Co's annualizedNet Income for the quarter that ended in Mar. 2026 was ₱17,662 Mil. Manila Water Co's average total tangible assets for the quarter that ended in Mar. 2026 was ₱48,504 Mil. Therefore, Manila Water Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 36.41%.
The historical rank and industry rank for Manila Water Co's Return-on-Tangible-Asset or its related term are showing as below:
PHS:MWC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.14 Med: 16.3 Max: 37.34
Current: 37.34
During the past 13 years, Manila Water Co's highest Return-on-Tangible-Asset was 37.34%. The lowest was 7.14%. And the median was 16.30%.
PHS:MWC's Return-on-Tangible-Asset is ranked better than 98.63% of 511
companies
in the Utilities - Regulated industry
Industry Median: 3.31
vs PHS:MWC: 37.34
Manila Water Co (PHS:MWC) 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.
Manila Water Co Return-on-Tangible-Asset Related Terms
Manila Water Co Return-on-Tangible-Asset Historical Data
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The historical data trend for Manila Water Co'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.
PHS:MWC vs AWK, WTRG, AWR: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Water subindustry, Manila Water Co'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.
Manila Water Co Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Water Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Manila Water Co'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 36.41% mean?
Manila Water Co (PHS:MWC) has a Return-on-Tangible-Asset of 36.41% 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 Manila Water Co and its competitors. This is 123% above median its historical median of 16.30. Over the past decade, Manila Water Co's Return-on-Tangible-Asset has ranged from 7.14 to 37.34. According to the industry distribution chart, Manila Water Co ranks #7 out of 511 companies in the Utilities - Regulated industry, placing it in the top 1.4%.
Is Manila Water Co's Return-on-Tangible-Asset too high?
Manila Water Co's current Return-on-Tangible-Asset of 36.41% is 123% above median its 10-year median of 16.30. Over the past 10 years, this metric has ranged from a low of 7.14 to a high of 37.34. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.31. Manila Water Co's value of 36.41% is 1000% above this industry median. Based on the distribution chart, Manila Water Co ranks #7 out of 511 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Manila Water Co has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Water Co's Return-on-Tangible-Asset compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Manila Water Co ranks #7 out of 511 companies for Return-on-Tangible-Asset. This places Manila Water Co in the top 1% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.31. Manila Water Co's value of 36.41% is 1000% above this benchmark. Historically, Manila Water Co's own Return-on-Tangible-Asset has ranged from 7.14 to 37.34 over the past decade. While the company's 10-year median is 16.30 vs. the industry median of 3.31, Manila Water Co 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 an Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.31, based on 511 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. Manila Water Co's current Return-on-Tangible-Asset of 36.41% is 1000% 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 Manila Water Co and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Water Co's current Return-on-Tangible-Asset is 36.41%, which is 123% above median its own 10-year median of 16.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manila Water Co stock overvalued right now?
Based on GuruFocus' analysis, Manila Water Co (PHS:MWC) is currently considered Fairly Valued. The stock's GF Value™ is ₱36.08, compared to a current price of ₱34.20 — trading 5.2% below its estimated fair value. The current Return-on-Tangible-Asset is 36.41%, which is 123% above median its 10-year median of 16.30 and 1000% above the Utilities - Regulated industry median of 3.31. Manila Water Co's overall GF Score™ is 93/100 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 Manila Water Co (PHS:MWC), the current Return-on-Tangible-Asset is 36.41% 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 Manila Water Co (PHS:MWC) Overvalued in 2026?
Based on GuruFocus' analysis, Manila Water Co stock appears to be undervalued.
The current stock price of ₱34.20 is trading 5.2% below its estimated GF Value™ of ₱36.08.
GuruFocus considers Manila Water Co to be Fairly Valued.
Key valuation signals for PHS:MWC:
Return-on-Tangible-Asset: 36.41% (123% above median its 10-year median of 16.30)
GF Value™: ₱36.08 vs. price of ₱34.20 (5.2% below fair value)
Industry Position: 1000% above the Utilities - Regulated median (#7 of 511)
No single metric tells the full story. See the PHS:MWC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Manila Water Co Inc holds the exclusive right to provide water and used water services in the East Zone of Metro Manila under a concession agreement with the Metropolitan Waterworks and Sewerage System. The company delivers water treatment, distribution, sewerage, and sanitation services to a large population across residential, commercial, and industrial customers. Its service area covers several cities and municipalities in Metro Manila and nearby parts of Rizal, including urban centers such as Makati, Pasig, Quezon City, Taguig, and Marikina, along with surrounding towns.
93GF Score
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