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Old Chang KeeSGX:5ML 44 Return-on-Tangible-Asset is 8.97% as of Mar. 2026, which is 8% above its 10-year median of 8.27. GuruFocus rates SGX:5ML with a GF Score™ of 44/100 and a GF Value™ of S$0.80 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 364 Restaurants companies, Old Chang Kee ranks better than 83.24% 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. Old Chang Kee's annualizedNet Income for the quarter that ended in Mar. 2026 was S$9.1 Mil. Old Chang Kee's average total tangible assets for the quarter that ended in Mar. 2026 was S$101.1 Mil. Therefore, Old Chang Kee's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 8.97%.
The historical rank and industry rank for Old Chang Kee's Return-on-Tangible-Asset or its related term are showing as below:
SGX:5ML'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.44 Med: 8.27 Max: 12.19
Current: 9.61
During the past 13 years, Old Chang Kee's highest Return-on-Tangible-Asset was 12.19%. The lowest was 1.44%. And the median was 8.27%.
SGX:5ML's Return-on-Tangible-Asset is ranked better than 83.24% of 364
companies
in the Restaurants industry
Industry Median: 2.375
vs SGX:5ML: 9.61
Old Chang Kee (SGX:5ML) 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.
Old Chang Kee Return-on-Tangible-Asset Related Terms
Old Chang Kee Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Old Chang Kee'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.
SGX:5ML vs MCD, SBUX, YUM: Return-on-Tangible-Asset Comparison
For the Restaurants subindustry, Old Chang Kee'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.
Old Chang Kee Return-on-Tangible-Asset vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Old Chang Kee's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Old Chang Kee'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 8.97% mean?
Old Chang Kee (SGX:5ML) has a Return-on-Tangible-Asset of 8.97% 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 Old Chang Kee and its competitors. This is near median its historical median of 8.27. Over the past decade, Old Chang Kee's Return-on-Tangible-Asset has ranged from 1.44 to 12.19. According to the industry distribution chart, Old Chang Kee ranks #61 out of 364 companies in the Restaurants industry, placing it in the top 16.8%.
Is Old Chang Kee's Return-on-Tangible-Asset too high?
Old Chang Kee's current Return-on-Tangible-Asset of 8.97% is near median its 10-year median of 8.27. Over the past 10 years, this metric has ranged from a low of 1.44 to a high of 12.19. The Restaurants industry median Return-on-Tangible-Asset is 2.38. Old Chang Kee's value of 8.97% is 277.7% above this industry median. Based on the distribution chart, Old Chang Kee ranks #61 out of 364 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers. Overall, Old Chang Kee has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Old Chang Kee's Return-on-Tangible-Asset compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Old Chang Kee ranks #61 out of 364 companies for Return-on-Tangible-Asset. This places Old Chang Kee in the top 17% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.38. Old Chang Kee's value of 8.97% is 277.7% above this benchmark. Historically, Old Chang Kee's own Return-on-Tangible-Asset has ranged from 1.44 to 12.19 over the past decade. While the company's 10-year median is 8.27 vs. the industry median of 2.38, Old Chang Kee 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 Restaurants company?
The median Return-on-Tangible-Asset among Restaurants companies is 2.38, based on 364 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. Old Chang Kee's current Return-on-Tangible-Asset of 8.97% is 277.7% 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 Old Chang Kee and its competitors. For the Restaurants industry, the median Return-on-Tangible-Asset is 2.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Old Chang Kee's current Return-on-Tangible-Asset is 8.97%, which is near median its own 10-year median of 8.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Old Chang Kee stock overvalued right now?
Based on GuruFocus' analysis, Old Chang Kee (SGX:5ML) is currently considered Significantly Overvalued. The stock's GF Value™ is S$0.80, compared to a current price of S$1.17 — trading 46.3% above its estimated fair value. The current Return-on-Tangible-Asset is 8.97%, which is near median its 10-year median of 8.27 and 277.7% above the Restaurants industry median of 2.38. Old Chang Kee's overall GF Score™ is 44/100 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 Old Chang Kee (SGX:5ML), the current Return-on-Tangible-Asset is 8.97% 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 Old Chang Kee (SGX:5ML) Overvalued in 2026?
Based on GuruFocus' analysis, Old Chang Kee stock appears to be overvalued.
The current stock price of S$1.17 is trading 46.3% above its estimated GF Value™ of S$0.80.
GuruFocus considers Old Chang Kee to be Significantly Overvalued.
Key valuation signals for SGX:5ML:
Return-on-Tangible-Asset: 8.97% (near median its 10-year median of 8.27)
GF Value™: S$0.80 vs. price of S$1.17 (46.3% above fair value)
Industry Position: 277.7% above the Restaurants median (#61 of 364)
No single metric tells the full story. See the SGX:5ML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Old Chang Kee Ltd is engaged in the manufacturing and distribution of food products. The company's products include curry puffs, fishballs, chicken nuggets, and chicken wings. It also provides catering services in Singapore. The company's geographical segments include Singapore, Australia, and Malaysia, and a majority of its revenue is derived from Singapore. The company is engaged in the manufacture and sale of food products under brands such as Old Chang Kee, the Curry Times, and Dip n Go.
44GF Score
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