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Zhejiang Zheneng Electric Power CoSHSE:600023 82 Return-on-Tangible-Asset is 2.49% as of Mar. 2026, which is 44% below its 10-year median of 4.47. GuruFocus rates SHSE:600023 with a GF Score™ of 82/100 and a GF Value™ of ¥4.84 (Fairly Valued). The stock has 4 warning signs investors should review. Among 453 Utilities - Independent Power Producers companies, Zhejiang Zheneng Electric Power Co ranks better than 74.83% on this metric.
The historical rank and industry rank for Zhejiang Zheneng Electric Power Co's Return-on-Tangible-Asset or its related term are showing as below:
SHSE:600023'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.58 Med: 4.47 Max: 5.96
Current: 4.85
During the past 13 years, Zhejiang Zheneng Electric Power Co's highest Return-on-Tangible-Asset was 5.96%. The lowest was -1.58%. And the median was 4.47%.
SHSE:600023's Return-on-Tangible-Asset is ranked better than 74.83% of 453
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.29
vs SHSE:600023: 4.85
Zhejiang Zheneng Electric Power Co (SHSE:600023) 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.
Zhejiang Zheneng Electric Power Co Return-on-Tangible-Asset Related Terms
Zhejiang Zheneng Electric Power Co 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.
Zhejiang Zheneng Electric Power Co Return-on-Tangible-Asset Chart
SHSE:600023 vs CEG, VST, NRG: Return-on-Tangible-Asset Comparison
For the Utilities - Independent Power Producers subindustry, Zhejiang Zheneng Electric Power 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.
Zhejiang Zheneng Electric Power Co Return-on-Tangible-Asset vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Zhejiang Zheneng Electric Power Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Zhejiang Zheneng Electric Power 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 2.49% mean?
Zhejiang Zheneng Electric Power Co (SHSE:600023) has a Return-on-Tangible-Asset of 2.49% 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 Zhejiang Zheneng Electric Power Co and its competitors. This is 44% below median its historical median of 4.47. According to the industry distribution chart, Zhejiang Zheneng Electric Power Co ranks #114 out of 453 companies in the Utilities - Independent Power Producers industry, placing it in the top 25.2%.
Is Zhejiang Zheneng Electric Power Co's Return-on-Tangible-Asset too high?
Zhejiang Zheneng Electric Power Co's current Return-on-Tangible-Asset of 2.49% is 44% below median its 10-year median of 4.47. The Utilities - Independent Power Producers industry median Return-on-Tangible-Asset is 1.29. Zhejiang Zheneng Electric Power Co's value of 2.49% is 93% above this industry median. Based on the distribution chart, Zhejiang Zheneng Electric Power Co ranks #114 out of 453 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Zhejiang Zheneng Electric Power Co has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Zhejiang Zheneng Electric Power Co's Return-on-Tangible-Asset compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Zhejiang Zheneng Electric Power Co ranks #114 out of 453 companies for Return-on-Tangible-Asset. This puts Zhejiang Zheneng Electric Power Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.29. Zhejiang Zheneng Electric Power Co's value of 2.49% is 93% above this benchmark. While the company's 10-year median is 4.47 vs. the industry median of 1.29, Zhejiang Zheneng Electric Power 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 - Independent Power Producers company?
The median Return-on-Tangible-Asset among Utilities - Independent Power Producers companies is 1.29, based on 453 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. Zhejiang Zheneng Electric Power Co's current Return-on-Tangible-Asset of 2.49% is 93% 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 Zhejiang Zheneng Electric Power Co and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Asset is 1.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhejiang Zheneng Electric Power Co's current Return-on-Tangible-Asset is 2.49%, which is 44% below median its own 10-year median of 4.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhejiang Zheneng Electric Power Co stock overvalued right now?
Based on GuruFocus' analysis, Zhejiang Zheneng Electric Power Co (SHSE:600023) is currently considered Fairly Valued. The stock's GF Value™ is ¥4.84, compared to a current price of ¥5.07 — trading 4.8% above its estimated fair value. The current Return-on-Tangible-Asset is 2.49%, which is 44% below median its 10-year median of 4.47 and 93% above the Utilities - Independent Power Producers industry median of 1.29. Zhejiang Zheneng Electric Power Co's overall GF Score™ is 82/100 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 Zhejiang Zheneng Electric Power Co (SHSE:600023), the current Return-on-Tangible-Asset is 2.49% 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 Zhejiang Zheneng Electric Power Co (SHSE:600023) Overvalued in 2026?
Based on GuruFocus' analysis, Zhejiang Zheneng Electric Power Co stock appears to be overvalued.
The current stock price of ¥5.07 is trading 4.8% above its estimated GF Value™ of ¥4.84.
GuruFocus considers Zhejiang Zheneng Electric Power Co to be Fairly Valued.
Key valuation signals for SHSE:600023:
Return-on-Tangible-Asset: 2.49% (44% below median its 10-year median of 4.47)
GF Value™: ¥4.84 vs. price of ¥5.07 (4.8% above fair value)
Industry Position: 93% above the Utilities - Independent Power Producers median (#114 of 453)
No single metric tells the full story. See the SHSE:600023 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressNo. 36, Zijinghua Road, 10th Floor, Building A, Zhejiang Energy Science and Technology Innovation Center, Xihu District, Zhejiang Province, Hangzhou, CHN, 310013
Zhejiang Zheneng Electric Power Co Ltd is engaged in the thermal power generation business in China. It also provides thermal products, as well as invests in nuclear power.
82GF Score
Get the complete analysis for SHSE:600023
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