Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
North Electro-Optic CoSHSE:600184 +1.27%62 Return-on-Tangible-Asset is 0.08% as of Mar. 2026, which is 94% below its 10-year median of 1.26. GuruFocus rates SHSE:600184 with a GF Score™ of 62/100 and a GF Value™ of ¥13.28 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 360 Aerospace & Defense companies, North Electro-Optic Co ranks worse than 61.67% 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. North Electro-Optic Co's annualizedNet Income for the quarter that ended in Mar. 2026 was ¥4 Mil. North Electro-Optic Co's average total tangible assets for the quarter that ended in Mar. 2026 was ¥5,297 Mil. Therefore, North Electro-Optic Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.08%.
The historical rank and industry rank for North Electro-Optic Co's Return-on-Tangible-Asset or its related term are showing as below:
SHSE:600184'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -5.08 Med: 1.26 Max: 1.73
Current: 1.06
During the past 13 years, North Electro-Optic Co's highest Return-on-Tangible-Asset was 1.73%. The lowest was -5.08%. And the median was 1.26%.
SHSE:600184's Return-on-Tangible-Asset is ranked worse than 61.67% of 360
companies
in the Aerospace & Defense industry
Industry Median: 3.135
vs SHSE:600184: 1.06
North Electro-Optic Co (SHSE:600184) 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.
North Electro-Optic Co Return-on-Tangible-Asset Related Terms
North Electro-Optic Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for North Electro-Optic 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.
North Electro-Optic Co Return-on-Tangible-Asset Chart
SHSE:600184 vs SPCX, GE, RTX: Return-on-Tangible-Asset Comparison
For the Aerospace & Defense subindustry, North Electro-Optic 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.
North Electro-Optic Co Return-on-Tangible-Asset vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, North Electro-Optic Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where North Electro-Optic 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 0.08% mean?
North Electro-Optic Co (SHSE:600184) has a Return-on-Tangible-Asset of 0.08% 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 North Electro-Optic Co and its competitors. This is 94% below median its historical median of 1.26. According to the industry distribution chart, North Electro-Optic Co ranks #222 out of 360 companies in the Aerospace & Defense industry, placing it in the top 61.7%.
Is North Electro-Optic Co's Return-on-Tangible-Asset too high?
North Electro-Optic Co's current Return-on-Tangible-Asset of 0.08% is 94% below median its 10-year median of 1.26. The Aerospace & Defense industry median Return-on-Tangible-Asset is 3.14. North Electro-Optic Co's value of 0.08% is 97.4% below this industry median. Based on the distribution chart, North Electro-Optic Co ranks #222 out of 360 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, North Electro-Optic Co has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does North Electro-Optic Co's Return-on-Tangible-Asset compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, North Electro-Optic Co ranks #222 out of 360 companies for Return-on-Tangible-Asset. This places North Electro-Optic Co in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.14. North Electro-Optic Co's value of 0.08% is 97.4% below this benchmark. While the company's 10-year median is 1.26 vs. the industry median of 3.14, North Electro-Optic Co has consistently been below 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 Aerospace & Defense company?
The median Return-on-Tangible-Asset among Aerospace & Defense companies is 3.14, based on 360 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. North Electro-Optic Co's current Return-on-Tangible-Asset of 0.08% is 97.4% below 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 North Electro-Optic Co and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Asset is 3.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. North Electro-Optic Co's current Return-on-Tangible-Asset is 0.08%, which is 94% below median its own 10-year median of 1.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is North Electro-Optic Co stock overvalued right now?
Based on GuruFocus' analysis, North Electro-Optic Co (SHSE:600184) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥13.28, compared to a current price of ¥17.61 — trading 32.6% above its estimated fair value. The current Return-on-Tangible-Asset is 0.08%, which is 94% below median its 10-year median of 1.26 and 97.4% below the Aerospace & Defense industry median of 3.14. North Electro-Optic Co's overall GF Score™ is 62/100 with 6 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 North Electro-Optic Co (SHSE:600184), the current Return-on-Tangible-Asset is 0.08% 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 North Electro-Optic Co (SHSE:600184) Overvalued in 2026?
Based on GuruFocus' analysis, North Electro-Optic Co stock appears to be overvalued.
The current stock price of ¥17.61 is trading 32.6% above its estimated GF Value™ of ¥13.28.
GuruFocus considers North Electro-Optic Co to be Significantly Overvalued.
Key valuation signals for SHSE:600184:
Return-on-Tangible-Asset: 0.08% (94% below median its 10-year median of 1.26)
GF Value™: ¥13.28 vs. price of ¥17.61 (32.6% above fair value)
Industry Position: 97.4% below the Aerospace & Defense median (#222 of 360)
No single metric tells the full story. See the SHSE:600184 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
North Electro-Optic Co Ltd is a China-based company mainly engaged in the research and development, design, manufacture, and distribution of optoelectronic defense products. The company is also engaged in the manufacture and sales of optoelectronic materials and components.
62GF Score
Get the complete analysis for SHSE:600184
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SHSE:600184 has been successfully added to your 
