Tokyo ElectronTOELF -0.61%85 Return-on-Tangible-Asset is 31.35% as of Mar. 2026, which is 58% above its 10-year median of 19.79. GuruFocus rates TOELF with a GF Score™ of 85/100 and a GF Value™ of $204.87 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,026 Semiconductors companies, Tokyo Electron ranks better than 95.22% 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. Tokyo Electron's annualizedNet Income for the quarter that ended in Mar. 2026 was $5,402 Mil. Tokyo Electron's average total tangible assets for the quarter that ended in Mar. 2026 was $17,230 Mil. Therefore, Tokyo Electron's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 31.35%.
The historical rank and industry rank for Tokyo Electron's Return-on-Tangible-Asset or its related term are showing as below:
TOELF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 13.41 Med: 19.79 Max: 26.65
Current: 21.9
During the past 13 years, Tokyo Electron's highest Return-on-Tangible-Asset was 26.65%. The lowest was 13.41%. And the median was 19.79%.
TOELF's Return-on-Tangible-Asset is ranked better than 95.22% of 1026
companies
in the Semiconductors industry
Industry Median: 2.59
vs TOELF: 21.90
Tokyo Electron (OTCPK:TOELF) 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.
Tokyo Electron Return-on-Tangible-Asset Related Terms
Tokyo Electron Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Tokyo Electron'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.
TOELF vs AMAT, LRCX, KLAC: Return-on-Tangible-Asset Comparison
For the Semiconductor Equipment & Materials subindustry, Tokyo Electron'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.
Tokyo Electron Return-on-Tangible-Asset vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Tokyo Electron's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Tokyo Electron'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 31.35% mean?
Tokyo Electron (TOELF) has a Return-on-Tangible-Asset of 31.35% 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 Tokyo Electron and its competitors. This is 58% above median its historical median of 19.79. Over the past decade, Tokyo Electron's Return-on-Tangible-Asset has ranged from 13.41 to 26.65. According to the industry distribution chart, Tokyo Electron ranks #49 out of 1026 companies in the Semiconductors industry, placing it in the top 4.8%.
Is Tokyo Electron's Return-on-Tangible-Asset too high?
Tokyo Electron's current Return-on-Tangible-Asset of 31.35% is 58% above median its 10-year median of 19.79. Over the past 10 years, this metric has ranged from a low of 13.41 to a high of 26.65. The Semiconductors industry median Return-on-Tangible-Asset is 2.59. Tokyo Electron's value of 31.35% is 1110.4% above this industry median. Based on the distribution chart, Tokyo Electron ranks #49 out of 1026 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Tokyo Electron has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Electron's Return-on-Tangible-Asset compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Tokyo Electron ranks #49 out of 1026 companies for Return-on-Tangible-Asset. This places Tokyo Electron in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.59. Tokyo Electron's value of 31.35% is 1110.4% above this benchmark. Historically, Tokyo Electron's own Return-on-Tangible-Asset has ranged from 13.41 to 26.65 over the past decade. While the company's 10-year median is 19.79 vs. the industry median of 2.59, Tokyo Electron 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 Semiconductors company?
The median Return-on-Tangible-Asset among Semiconductors companies is 2.59, based on 1,026 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. Tokyo Electron's current Return-on-Tangible-Asset of 31.35% is 1110.4% 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 Tokyo Electron and its competitors. For the Semiconductors industry, the median Return-on-Tangible-Asset is 2.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Electron's current Return-on-Tangible-Asset is 31.35%, which is 58% above median its own 10-year median of 19.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Electron stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Electron (TOELF) is currently considered Significantly Overvalued. The stock's GF Value™ is $204.87, compared to a current price of $482.05 — trading 135.3% above its estimated fair value. The current Return-on-Tangible-Asset is 31.35%, which is 58% above median its 10-year median of 19.79 and 1110.4% above the Semiconductors industry median of 2.59. Tokyo Electron's overall GF Score™ is 85/100 with 8 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 Tokyo Electron (TOELF), the current Return-on-Tangible-Asset is 31.35% 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 Tokyo Electron (TOELF) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Electron stock appears to be overvalued.
The current stock price of $482.05 is trading 135.3% above its estimated GF Value™ of $204.87.
GuruFocus considers Tokyo Electron to be Significantly Overvalued.
Key valuation signals for TOELF:
Return-on-Tangible-Asset: 31.35% (58% above median its 10-year median of 19.79)
GF Value™: $204.87 vs. price of $482.05 (135.3% above fair value)
Industry Position: 1110.4% above the Semiconductors median (#49 of 1026)
No single metric tells the full story. See the TOELF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Electron is a major supplier of semiconductor fabrication tools. It operates primarily in the etching, deposition, and cleaning segments, which involve adding and removing materials to and from semiconductor wafers. Customers include leading-edge logic, foundry, and memory chipmakers such as Samsung Electronics, Intel, TSMC, and SK Hynix.
85GF Score
Get the complete analysis for TOELF
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