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.
First Hotel CoTPE:2706 85 Return-on-Tangible-Asset is 2.36% as of Mar. 2026, which is 15% below its 10-year median of 2.79. GuruFocus rates TPE:2706 with a GF Score™ of 85/100 and a GF Value™ of NT$16.72 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,802 Real Estate companies, First Hotel Co ranks better than 61.04% 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. First Hotel Co's annualizedNet Income for the quarter that ended in Mar. 2026 was NT$276.4 Mil. First Hotel Co's average total tangible assets for the quarter that ended in Mar. 2026 was NT$11,722.0 Mil. Therefore, First Hotel Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.36%.
The historical rank and industry rank for First Hotel Co's Return-on-Tangible-Asset or its related term are showing as below:
TPE:2706'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.75 Med: 2.79 Max: 5.89
Current: 2.87
During the past 13 years, First Hotel Co's highest Return-on-Tangible-Asset was 5.89%. The lowest was 0.75%. And the median was 2.79%.
TPE:2706's Return-on-Tangible-Asset is ranked better than 61.04% of 1802
companies
in the Real Estate industry
Industry Median: 1.78
vs TPE:2706: 2.87
First Hotel Co (TPE:2706) 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.
First Hotel Co Return-on-Tangible-Asset Related Terms
First Hotel Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for First Hotel 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.
TPE:2706 vs CBRE, BEKE, JLL: Return-on-Tangible-Asset Comparison
For the Real Estate Services subindustry, First Hotel 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.
First Hotel Co Return-on-Tangible-Asset vs Real Estate Industry
For the Real Estate industry and Real Estate sector, First Hotel Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where First Hotel 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 2.36% mean?
First Hotel Co (TPE:2706) has a Return-on-Tangible-Asset of 2.36% 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 First Hotel Co and its competitors. This is 15% below median its historical median of 2.79. Over the past decade, First Hotel Co's Return-on-Tangible-Asset has ranged from 0.75 to 5.89. According to the industry distribution chart, First Hotel Co ranks #702 out of 1802 companies in the Real Estate industry, placing it in the top 39%.
Is First Hotel Co's Return-on-Tangible-Asset too high?
First Hotel Co's current Return-on-Tangible-Asset of 2.36% is 15% below median its 10-year median of 2.79. Over the past 10 years, this metric has ranged from a low of 0.75 to a high of 5.89. The Real Estate industry median Return-on-Tangible-Asset is 1.78. First Hotel Co's value of 2.36% is 32.6% above this industry median. Based on the distribution chart, First Hotel Co ranks #702 out of 1802 companies in the Real Estate industry, which is above the industry midpoint. Overall, First Hotel Co has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does First Hotel Co's Return-on-Tangible-Asset compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, First Hotel Co ranks #702 out of 1802 companies for Return-on-Tangible-Asset. This puts First Hotel Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.78. First Hotel Co's value of 2.36% is 32.6% above this benchmark. Historically, First Hotel Co's own Return-on-Tangible-Asset has ranged from 0.75 to 5.89 over the past decade. While the company's 10-year median is 2.79 vs. the industry median of 1.78, First Hotel 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 a Real Estate company?
The median Return-on-Tangible-Asset among Real Estate companies is 1.78, based on 1,802 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. First Hotel Co's current Return-on-Tangible-Asset of 2.36% is 32.6% 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 First Hotel Co and its competitors. For the Real Estate industry, the median Return-on-Tangible-Asset is 1.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Hotel Co's current Return-on-Tangible-Asset is 2.36%, which is 15% below median its own 10-year median of 2.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Hotel Co stock overvalued right now?
Based on GuruFocus' analysis, First Hotel Co (TPE:2706) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$16.72, compared to a current price of NT$12.45 — trading 25.5% below its estimated fair value. The current Return-on-Tangible-Asset is 2.36%, which is 15% below median its 10-year median of 2.79 and 32.6% above the Real Estate industry median of 1.78. First Hotel Co's overall GF Score™ is 85/100 with 1 warning sign 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 First Hotel Co (TPE:2706), the current Return-on-Tangible-Asset is 2.36% 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 First Hotel Co (TPE:2706) Overvalued in 2026?
Based on GuruFocus' analysis, First Hotel Co stock appears to be undervalued.
The current stock price of NT$12.45 is trading 25.5% below its estimated GF Value™ of NT$16.72.
GuruFocus considers First Hotel Co to be Modestly Undervalued.
Key valuation signals for TPE:2706:
Return-on-Tangible-Asset: 2.36% (15% below median its 10-year median of 2.79)
GF Value™: NT$16.72 vs. price of NT$12.45 (25.5% below fair value)
Industry Position: 32.6% above the Real Estate median (#702 of 1802)
No single metric tells the full story. See the TPE:2706 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Hotel Co Ltd is a Taiwan-based company, that engages in the operation and management of hotels. The reportable segments of the company are the Travel service segment which include tourist hotel service, and the Leasing segment which generates key revenue and includes Rent out commercial buildings. The company operates tourism hotels, which provide spaces for accommodation, catering, parties, fitness centers, and meeting rooms. Its leasing of commercial buildings business mainly includes the leasing of shopping malls. It also provides services like dining halls, restaurants, and online booking services.
85GF Score
Get the complete analysis for TPE:2706
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
TPE:2706 has been successfully added to your 
