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Test Rite International CoTPE:2908 +0.93%65 Return-on-Tangible-Asset is 0.93% as of Dec. 2025, which is 39% below its 10-year median of 1.52. GuruFocus rates TPE:2908 with a GF Score™ of 65/100 and a GF Value™ of NT$18.31 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,136 Retail - Cyclical companies, Test Rite International Co ranks worse than 68.22% 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. Test Rite International Co's annualizedNet Income for the quarter that ended in Dec. 2025 was NT$324 Mil. Test Rite International Co's average total tangible assets for the quarter that ended in Dec. 2025 was NT$34,900 Mil. Therefore, Test Rite International Co's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 0.93%.
The historical rank and industry rank for Test Rite International Co's Return-on-Tangible-Asset or its related term are showing as below:
TPE:2908'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.33 Med: 1.52 Max: 3.91
Current: 0.34
During the past 13 years, Test Rite International Co's highest Return-on-Tangible-Asset was 3.91%. The lowest was 0.33%. And the median was 1.52%.
TPE:2908's Return-on-Tangible-Asset is ranked worse than 68.22% of 1136
companies
in the Retail - Cyclical industry
Industry Median: 2.92
vs TPE:2908: 0.34
Test Rite International Co (TPE:2908) 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.
Test Rite International Co Return-on-Tangible-Asset Related Terms
Test Rite International Co Return-on-Tangible-Asset Historical Data
* 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.
Test Rite International Co Return-on-Tangible-Asset Chart
TPE:2908 vs HD, LOW, FND: Return-on-Tangible-Asset Comparison
For the Home Improvement Retail subindustry, Test Rite International 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.
Test Rite International Co Return-on-Tangible-Asset vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Test Rite International Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Test Rite International 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 (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 0.93% mean?
Test Rite International Co (TPE:2908) has a Return-on-Tangible-Asset of 0.93% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Test Rite International Co and its competitors. This is 39% below median its historical median of 1.52. Over the past decade, Test Rite International Co's Return-on-Tangible-Asset has ranged from 0.33 to 3.91. According to the industry distribution chart, Test Rite International Co ranks #775 out of 1136 companies in the Retail - Cyclical industry, placing it in the top 68.2%.
Is Test Rite International Co's Return-on-Tangible-Asset too high?
Test Rite International Co's current Return-on-Tangible-Asset of 0.93% is 39% below median its 10-year median of 1.52. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 3.91. The Retail - Cyclical industry median Return-on-Tangible-Asset is 2.92. Test Rite International Co's value of 0.93% is 68.2% below this industry median. Based on the distribution chart, Test Rite International Co ranks #775 out of 1136 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Test Rite International Co has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Test Rite International Co's Return-on-Tangible-Asset compare to HD and LOW?
According to the Retail - Cyclical industry distribution chart, Test Rite International Co ranks #775 out of 1136 companies for Return-on-Tangible-Asset. This places Test Rite International Co in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.92. Test Rite International Co's value of 0.93% is 68.2% below this benchmark. Historically, Test Rite International Co's own Return-on-Tangible-Asset has ranged from 0.33 to 3.91 over the past decade. While the company's 10-year median is 1.52 vs. the industry median of 2.92, Test Rite International 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 a Retail - Cyclical company?
The median Return-on-Tangible-Asset among Retail - Cyclical companies is 2.92, based on 1,136 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. Test Rite International Co's current Return-on-Tangible-Asset of 0.93% is 68.2% 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 Test Rite International Co and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Asset is 2.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Test Rite International Co's current Return-on-Tangible-Asset is 0.93%, which is 39% below median its own 10-year median of 1.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Test Rite International Co stock overvalued right now?
Based on GuruFocus' analysis, Test Rite International Co (TPE:2908) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$18.31, compared to a current price of NT$21.80 — trading 19.1% above its estimated fair value. The current Return-on-Tangible-Asset is 0.93%, which is 39% below median its 10-year median of 1.52 and 68.2% below the Retail - Cyclical industry median of 2.92. Test Rite International Co's overall GF Score™ is 65/100 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 Test Rite International Co (TPE:2908), the current Return-on-Tangible-Asset is 0.93% as of Dec. 2025. 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 Test Rite International Co (TPE:2908) Overvalued in 2026?
Based on GuruFocus' analysis, Test Rite International Co stock appears to be overvalued.
The current stock price of NT$21.80 is trading 19.1% above its estimated GF Value™ of NT$18.31.
GuruFocus considers Test Rite International Co to be Modestly Overvalued.
Key valuation signals for TPE:2908:
Return-on-Tangible-Asset: 0.93% (39% below median its 10-year median of 1.52)
GF Value™: NT$18.31 vs. price of NT$21.80 (19.1% above fair value)
Industry Position: 68.2% below the Retail - Cyclical median (#775 of 1136)
No single metric tells the full story. See the TPE:2908 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Test Rite International Co Ltd is a Taiwan-based company that is principally engaged in the trading business and retail business. It mainly imports and exports hand tools, auto parts, machinery, furniture, and various home appliances. Test-Rite's marketplaces are located in the United States of America, Canada, Great Britain, France, Germany, Australia, etc.
65GF Score
Get the complete analysis for TPE:2908
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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