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TSRCTPE:2103 +1.27%65 Return-on-Tangible-Asset is 12.37% as of Jun. 2026, which is 334% above its 10-year median of 2.85. GuruFocus rates TPE:2103 with a GF Score™ of 65/100 and a GF Value™ of NT$23.46 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 1,615 Chemicals companies, TSRC ranks worse than 65.26% 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. TSRC's annualizedNet Income for the quarter that ended in Jun. 2026 was NT$5,724 Mil. TSRC's average total tangible assets for the quarter that ended in Jun. 2026 was NT$46,276 Mil. Therefore, TSRC's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 12.37%.
The historical rank and industry rank for TSRC's Return-on-Tangible-Asset or its related term are showing as below:
TPE:2103'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.07 Med: 2.85 Max: 13.06
Current: 4.74
During the past 13 years, TSRC's highest Return-on-Tangible-Asset was 13.06%. The lowest was -0.07%. And the median was 2.85%.
TPE:2103's Return-on-Tangible-Asset is ranked worse than 65.26% of 1615
companies
in the Chemicals industry
Industry Median: 3.31
vs TPE:2103: 4.74
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.
TSRC Return-on-Tangible-Asset Related Terms
TSRC Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for TSRC'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.
TPE:2103 vs LIN, SHW, ECL: Return-on-Tangible-Asset Comparison
For the Specialty Chemicals subindustry, TSRC'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.
TSRC Return-on-Tangible-Asset vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, TSRC's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where TSRC'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 (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 12.37% mean?
TSRC (TPE:2103) has a Return-on-Tangible-Asset of 12.37% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on TSRC and its competitors. This is 334% above median its historical median of 2.85. According to the industry distribution chart, TSRC ranks #1054 out of 1615 companies in the Chemicals industry, placing it in the top 65.3%.
Is TSRC's Return-on-Tangible-Asset too high?
TSRC's current Return-on-Tangible-Asset of 12.37% is 334% above median its 10-year median of 2.85. The Chemicals industry median Return-on-Tangible-Asset is 3.31. TSRC's value of 12.37% is 273.7% above this industry median. Based on the distribution chart, TSRC ranks #1054 out of 1615 companies in the Chemicals industry, which is below the industry midpoint. Overall, TSRC has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSRC's Return-on-Tangible-Asset compare to LIN and SHW?
According to the Chemicals industry distribution chart, TSRC ranks #1054 out of 1615 companies for Return-on-Tangible-Asset. This places TSRC in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.31. TSRC's value of 12.37% is 273.7% above this benchmark. While the company's 10-year median is 2.85 vs. the industry median of 3.31, TSRC 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 Chemicals company?
The median Return-on-Tangible-Asset among Chemicals companies is 3.31, based on 1,615 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. TSRC's current Return-on-Tangible-Asset of 12.37% is 273.7% 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 TSRC and its competitors. For the Chemicals industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSRC's current Return-on-Tangible-Asset is 12.37%, which is 334% above median its own 10-year median of 2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSRC stock overvalued right now?
Based on GuruFocus' analysis, TSRC (TPE:2103) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$23.46, compared to a current price of NT$27.85 — trading 18.7% above its estimated fair value. The current Return-on-Tangible-Asset is 12.37%, which is 334% above median its 10-year median of 2.85 and 273.7% above the Chemicals industry median of 3.31. TSRC's overall GF Score™ is 65/100 with 10 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 TSRC (TPE:2103), the current Return-on-Tangible-Asset is 12.37% as of Jun. 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 TSRC (TPE:2103) Overvalued in 2026?
Based on GuruFocus' analysis, TSRC stock appears to be overvalued.
The current stock price of NT$27.85 is trading 18.7% above its estimated GF Value™ of NT$23.46.
GuruFocus considers TSRC to be Modestly Overvalued.
Key valuation signals for TPE:2103:
Return-on-Tangible-Asset: 12.37% (334% above median its 10-year median of 2.85)
GF Value™: NT$23.46 vs. price of NT$27.85 (18.7% above fair value)
Industry Position: 273.7% above the Chemicals median (#1054 of 1615)
No single metric tells the full story. See the TPE:2103 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSRC Corporation is a rubber manufacturer based out of Taiwan. The company offers tire products globally, with Asian markets accounting for the majority of the company's sales. Product offerings are divided into the Synthetic Rubber business and Applied polymer business. Under the Synthetic Rubber business, tires are built to improve abrasion resistance and provide low rolling resistance and wet grip resistance. Consumers of TSRC Corp tire products depend on products to deliver reduced fuel consumption and meet a host of regulations and environmental conditions. Products under the Applied Polymers business are often used in high-grade shoe soles, asphalt modification, plastic modification, adhesives, and other end markets. Its geographical segments are Asia, America, Europe, and Others.
65GF Score
Get the complete analysis for TPE:2103
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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