Thai BeverageTBVPF 60 Return-on-Tangible-Asset is 8.56% as of Mar. 2026, which is 9% below its 10-year median of 9.44. GuruFocus rates TBVPF with a GF Score™ of 60/100 and a GF Value™ of $0.40 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 213 Beverages - Alcoholic companies, Thai Beverage ranks better than 72.77% 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. Thai Beverage's annualizedNet Income for the quarter that ended in Mar. 2026 was $883 Mil. Thai Beverage's average total tangible assets for the quarter that ended in Mar. 2026 was $10,316 Mil. Therefore, Thai Beverage's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 8.56%.
The historical rank and industry rank for Thai Beverage's Return-on-Tangible-Asset or its related term are showing as below:
TBVPF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.52 Med: 9.44 Max: 19.45
Current: 7.52
During the past 13 years, Thai Beverage's highest Return-on-Tangible-Asset was 19.45%. The lowest was 7.52%. And the median was 9.44%.
TBVPF's Return-on-Tangible-Asset is ranked better than 72.77% of 213
companies
in the Beverages - Alcoholic industry
Industry Median: 3.09
vs TBVPF: 7.52
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.
Thai Beverage Return-on-Tangible-Asset Related Terms
Thai Beverage Return-on-Tangible-Asset Historical Data
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The historical data trend for Thai Beverage'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.
TBVPF vs BF.B: Return-on-Tangible-Asset Comparison
For the Beverages - Wineries & Distilleries subindustry, Thai Beverage'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.
Thai Beverage Return-on-Tangible-Asset vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Thai Beverage's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Thai Beverage'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 8.56% mean?
Thai Beverage (TBVPF) has a Return-on-Tangible-Asset of 8.56% 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 Thai Beverage and its competitors. This is near median its historical median of 9.44. Over the past decade, Thai Beverage's Return-on-Tangible-Asset has ranged from 7.52 to 19.45. According to the industry distribution chart, Thai Beverage ranks #58 out of 213 companies in the Beverages - Alcoholic industry, placing it in the top 27.2%.
Is Thai Beverage's Return-on-Tangible-Asset too high?
Thai Beverage's current Return-on-Tangible-Asset of 8.56% is near median its 10-year median of 9.44. Over the past 10 years, this metric has ranged from a low of 7.52 to a high of 19.45. The Beverages - Alcoholic industry median Return-on-Tangible-Asset is 3.09. Thai Beverage's value of 8.56% is 177% above this industry median. Based on the distribution chart, Thai Beverage ranks #58 out of 213 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Thai Beverage has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thai Beverage's Return-on-Tangible-Asset compare to BF.B?
According to the Beverages - Alcoholic industry distribution chart, Thai Beverage ranks #58 out of 213 companies for Return-on-Tangible-Asset. This puts Thai Beverage in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.09. Thai Beverage's value of 8.56% is 177% above this benchmark. Historically, Thai Beverage's own Return-on-Tangible-Asset has ranged from 7.52 to 19.45 over the past decade. While the company's 10-year median is 9.44 vs. the industry median of 3.09, Thai Beverage 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 Beverages - Alcoholic company?
The median Return-on-Tangible-Asset among Beverages - Alcoholic companies is 3.09, based on 213 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. Thai Beverage's current Return-on-Tangible-Asset of 8.56% is 177% 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 Thai Beverage and its competitors. For the Beverages - Alcoholic industry, the median Return-on-Tangible-Asset is 3.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Beverage's current Return-on-Tangible-Asset is 8.56%, which is near median its own 10-year median of 9.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Beverage stock overvalued right now?
Based on GuruFocus' analysis, Thai Beverage (TBVPF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.40, compared to a current price of $0.34 — trading 16.1% below its estimated fair value. The current Return-on-Tangible-Asset is 8.56%, which is near median its 10-year median of 9.44 and 177% above the Beverages - Alcoholic industry median of 3.09. Thai Beverage's overall GF Score™ is 60/100 with 3 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 Thai Beverage (TBVPF), the current Return-on-Tangible-Asset is 8.56% 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 Thai Beverage (TBVPF) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Beverage stock appears to be undervalued.
The current stock price of $0.34 is trading 16.1% below its estimated GF Value™ of $0.40.
GuruFocus considers Thai Beverage to be Modestly Undervalued.
Key valuation signals for TBVPF:
Return-on-Tangible-Asset: 8.56% (near median its 10-year median of 9.44)
GF Value™: $0.40 vs. price of $0.34 (16.1% below fair value)
Industry Position: 177% above the Beverages - Alcoholic median (#58 of 213)
No single metric tells the full story. See the TBVPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Beverage PLC is a Thailand-based company engaged in producing and distributing alcoholic and non-alcoholic beverages and food. The company's operating segments include Spirits; production and sales of branded spirits products and soda. Beer: production and sales of raw materials, branded beer products, Chang soda and Chang water. Non-alcoholic beverages: production and sales of branded water, ready-to-drink coffee, energy drink, green tea, fruit flavored drinks and dairy products. Food: restaurants and distribution of food and beverages; and Others: publishing and printing. Key revenue is generated from Beer. It operates in Thailand, which generates the majority of revenue, Vietnam, Malaysia, Myanmar, Singapore and others.
60GF Score
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