The Philippine Stock ExchangePHS:PSE +0.90%89 Return-on-Tangible-Asset is 19.20% as of Mar. 2026, which is 42% above its 10-year median of 13.52. GuruFocus rates PHS:PSE with a GF Score™ of 89/100 and a GF Value™ of ₱379.25 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 818 Capital Markets companies, The Philippine Stock Exchange ranks better than 91.08% on this metric.
The historical rank and industry rank for The Philippine Stock Exchange's Return-on-Tangible-Asset or its related term are showing as below:
PHS:PSE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.08 Med: 13.52 Max: 23.26
Current: 17.25
During the past 13 years, The Philippine Stock Exchange's highest Return-on-Tangible-Asset was 23.26%. The lowest was 10.08%. And the median was 13.52%.
PHS:PSE's Return-on-Tangible-Asset is ranked better than 91.08% of 818
companies
in the Capital Markets industry
Industry Median: 1.505
vs PHS:PSE: 17.25
The Philippine Stock Exchange (PHS:PSE) 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.
The Philippine Stock Exchange Return-on-Tangible-Asset Related Terms
The Philippine Stock Exchange Return-on-Tangible-Asset Historical Data
* 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.
The Philippine Stock Exchange Return-on-Tangible-Asset Chart
PHS:PSE vs SPGI, CME, MCO: Return-on-Tangible-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, The Philippine Stock Exchange'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.
The Philippine Stock Exchange Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, The Philippine Stock Exchange's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where The Philippine Stock Exchange'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 19.20% mean?
The Philippine Stock Exchange (PHS:PSE) has a Return-on-Tangible-Asset of 19.20% 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 The Philippine Stock Exchange and its competitors. This is 42% above median its historical median of 13.52. Over the past decade, The Philippine Stock Exchange's Return-on-Tangible-Asset has ranged from 10.08 to 23.26. According to the industry distribution chart, The Philippine Stock Exchange ranks #73 out of 818 companies in the Capital Markets industry, placing it in the top 8.9%.
Is The Philippine Stock Exchange's Return-on-Tangible-Asset too high?
The Philippine Stock Exchange's current Return-on-Tangible-Asset of 19.20% is 42% above median its 10-year median of 13.52. Over the past 10 years, this metric has ranged from a low of 10.08 to a high of 23.26. The Capital Markets industry median Return-on-Tangible-Asset is 1.51. The Philippine Stock Exchange's value of 19.20% is 1175.7% above this industry median. Based on the distribution chart, The Philippine Stock Exchange ranks #73 out of 818 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, The Philippine Stock Exchange has a GF Score™ of 89/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Philippine Stock Exchange's Return-on-Tangible-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, The Philippine Stock Exchange ranks #73 out of 818 companies for Return-on-Tangible-Asset. This places The Philippine Stock Exchange in the top 9% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.51. The Philippine Stock Exchange's value of 19.20% is 1175.7% above this benchmark. Historically, The Philippine Stock Exchange's own Return-on-Tangible-Asset has ranged from 10.08 to 23.26 over the past decade. While the company's 10-year median is 13.52 vs. the industry median of 1.51, The Philippine Stock Exchange 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.51, based on 818 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. The Philippine Stock Exchange's current Return-on-Tangible-Asset of 19.20% is 1175.7% 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 The Philippine Stock Exchange and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Philippine Stock Exchange's current Return-on-Tangible-Asset is 19.20%, which is 42% above median its own 10-year median of 13.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Philippine Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, The Philippine Stock Exchange (PHS:PSE) is currently considered Significantly Undervalued. The stock's GF Value™ is ₱379.25, compared to a current price of ₱202.80 — trading 46.5% below its estimated fair value. The current Return-on-Tangible-Asset is 19.20%, which is 42% above median its 10-year median of 13.52 and 1175.7% above the Capital Markets industry median of 1.51. The Philippine Stock Exchange's overall GF Score™ is 89/100 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 The Philippine Stock Exchange (PHS:PSE), the current Return-on-Tangible-Asset is 19.20% 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 The Philippine Stock Exchange (PHS:PSE) Overvalued in 2026?
Based on GuruFocus' analysis, The Philippine Stock Exchange stock appears to be undervalued.
The current stock price of ₱202.80 is trading 46.5% below its estimated GF Value™ of ₱379.25.
GuruFocus considers The Philippine Stock Exchange to be Significantly Undervalued.
Key valuation signals for PHS:PSE:
Return-on-Tangible-Asset: 19.20% (42% above median its 10-year median of 13.52)
GF Value™: ₱379.25 vs. price of ₱202.80 (46.5% below fair value)
Industry Position: 1175.7% above the Capital Markets median (#73 of 818)
No single metric tells the full story. See the PHS:PSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Philippine Stock Exchange Business Description
The Philippine Stock Exchange Inc is a Philippines-based stock corporation. The company's business is to provide and maintain a convenient and suitable market for the exchange, purchase, and sale of all types of securities and other instruments. The company's business segments include: Equity, Clearing and Settlement Business; and Depository and Fixed Income Business. It derives maximum revenue from Equity, Clearing and Settlement Business. The sources of revenue also consist of listing-related fees for initial public offerings, annual listing maintenance membership, transactions, data feeds, and miscellaneous fees.
89GF Score
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