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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. TSG Development Co's annualizedNet Income for the quarter that ended in Jun. 2026 was NT$-11.07 Mil. TSG Development Co's average total tangible assets for the quarter that ended in Jun. 2026 was NT$2,060.85 Mil. Therefore, TSG Development Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was -0.54%.
The historical rank and industry rank for TSG Development Co's Return-on-Tangible-Asset or its related term are showing as below:
ROCO:3521'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -15.92 Med: -4.55 Max: 17.31
Current: 17.31
During the past 13 years, TSG Development Co's highest Return-on-Tangible-Asset was 17.31%. The lowest was -15.92%. And the median was -4.55%.
ROCO:3521's Return-on-Tangible-Asset is ranked better than 95.3% of 1787
companies
in the Construction industry
Industry Median: 3.08
vs ROCO:3521: 17.31
TSG Development Co (ROCO:3521) 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.
TSG Development Co Return-on-Tangible-Asset Related Terms
TSG Development Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for TSG Development 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.
ROCO:3521 vs PWR, FIX, EME: Return-on-Tangible-Asset Comparison
For the Engineering & Construction subindustry, TSG Development 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.
TSG Development Co Return-on-Tangible-Asset vs Construction Industry
For the Construction industry and Industrials sector, TSG Development Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where TSG Development 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 (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of -0.54% mean?
TSG Development Co (ROCO:3521) has a Return-on-Tangible-Asset of -0.54% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on TSG Development Co and its competitors. According to the industry distribution chart, TSG Development Co ranks #84 out of 1787 companies in the Construction industry, placing it in the top 4.7%.
Is TSG Development Co's Return-on-Tangible-Asset too high?
TSG Development Co's current Return-on-Tangible-Asset is -0.54%. Based on the distribution chart, TSG Development Co ranks #84 out of 1787 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, TSG Development Co has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSG Development Co's Return-on-Tangible-Asset compare to PWR and FIX?
According to the Construction industry distribution chart, TSG Development Co ranks #84 out of 1787 companies for Return-on-Tangible-Asset. This places TSG Development Co in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.08. 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 Construction company?
The median Return-on-Tangible-Asset among Construction companies is 3.08, based on 1,787 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 TSG Development Co and its competitors. For the Construction industry, the median Return-on-Tangible-Asset is 3.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSG Development Co's current Return-on-Tangible-Asset is -0.54%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSG Development Co stock overvalued right now?
Based on GuruFocus' analysis, TSG Development Co (ROCO:3521) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$2.72, compared to a current price of NT$12.15 — trading 346.7% above its estimated fair value. The current Return-on-Tangible-Asset is -0.54%. TSG Development Co's overall GF Score™ is 49/100 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 TSG Development Co (ROCO:3521), the current Return-on-Tangible-Asset is -0.54% as of Jun. 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 TSG Development Co (ROCO:3521) Overvalued in 2026?
Based on GuruFocus' analysis, TSG Development Co stock appears to be overvalued.
The current stock price of NT$12.15 is trading 346.7% above its estimated GF Value™ of NT$2.72.
GuruFocus considers TSG Development Co to be Significantly Overvalued.
Key valuation signals for ROCO:3521:
Return-on-Tangible-Asset: -0.54%
GF Value™: NT$2.72 vs. price of NT$12.15 (346.7% above fair value)
No single metric tells the full story. See the ROCO:3521 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSG Development Co Ltd Formerly Datavan International Corp is engaged in the research and development, design, manufacture and sale of endpoint sales system software and hardware, import and export of computer information equipment and its peripheral equipment parts and accessories, and development and sale of residential and buildings for lease, investment in construction of public works and real estate trading. It operates in two reportable operating segments: Technology Business Division; and Construction Business Division, which earns majority of the revenue from real estate construction and related sales management services and other businesses. Geographically, its operations are spread across Asia, Europe, Americas and Other with majority of the revenue generating from Asia.
49GF Score
Get the complete analysis for ROCO:3521
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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