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Kaori Heat Treatment CoTPE:8996 +9.57%87 Return-on-Tangible-Asset is 28.51% as of Mar. 2026, which is 275% above its 10-year median of 7.60. GuruFocus rates TPE:8996 with a GF Score™ of 87/100 and a GF Value™ of NT$926.87 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 3,077 Industrial Products companies, Kaori Heat Treatment Co ranks better than 96.13% 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. Kaori Heat Treatment Co's annualizedNet Income for the quarter that ended in Mar. 2026 was NT$2,423 Mil. Kaori Heat Treatment Co's average total tangible assets for the quarter that ended in Mar. 2026 was NT$8,498 Mil. Therefore, Kaori Heat Treatment Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 28.51%.
The historical rank and industry rank for Kaori Heat Treatment Co's Return-on-Tangible-Asset or its related term are showing as below:
TPE:8996'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.65 Med: 7.6 Max: 17.96
Current: 17.96
During the past 13 years, Kaori Heat Treatment Co's highest Return-on-Tangible-Asset was 17.96%. The lowest was 1.65%. And the median was 7.60%.
TPE:8996's Return-on-Tangible-Asset is ranked better than 96.13% of 3077
companies
in the Industrial Products industry
Industry Median: 3.26
vs TPE:8996: 17.96
Kaori Heat Treatment Co (TPE:8996) 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.
Kaori Heat Treatment Co Return-on-Tangible-Asset Related Terms
Kaori Heat Treatment Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Kaori Heat Treatment 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.
Kaori Heat Treatment Co Return-on-Tangible-Asset Chart
TPE:8996 vs GEV, ETN, PH: Return-on-Tangible-Asset Comparison
For the Specialty Industrial Machinery subindustry, Kaori Heat Treatment 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.
Kaori Heat Treatment Co Return-on-Tangible-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kaori Heat Treatment Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Kaori Heat Treatment 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 28.51% mean?
Kaori Heat Treatment Co (TPE:8996) has a Return-on-Tangible-Asset of 28.51% 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 Kaori Heat Treatment Co and its competitors. This is 275% above median its historical median of 7.60. Over the past decade, Kaori Heat Treatment Co's Return-on-Tangible-Asset has ranged from 1.65 to 17.96. According to the industry distribution chart, Kaori Heat Treatment Co ranks #119 out of 3077 companies in the Industrial Products industry, placing it in the top 3.9%.
Is Kaori Heat Treatment Co's Return-on-Tangible-Asset too high?
Kaori Heat Treatment Co's current Return-on-Tangible-Asset of 28.51% is 275% above median its 10-year median of 7.60. Over the past 10 years, this metric has ranged from a low of 1.65 to a high of 17.96. The Industrial Products industry median Return-on-Tangible-Asset is 3.26. Kaori Heat Treatment Co's value of 28.51% is 774.5% above this industry median. Based on the distribution chart, Kaori Heat Treatment Co ranks #119 out of 3077 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Kaori Heat Treatment Co has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kaori Heat Treatment Co's Return-on-Tangible-Asset compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Kaori Heat Treatment Co ranks #119 out of 3077 companies for Return-on-Tangible-Asset. This places Kaori Heat Treatment Co in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.26. Kaori Heat Treatment Co's value of 28.51% is 774.5% above this benchmark. Historically, Kaori Heat Treatment Co's own Return-on-Tangible-Asset has ranged from 1.65 to 17.96 over the past decade. While the company's 10-year median is 7.60 vs. the industry median of 3.26, Kaori Heat Treatment 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 an Industrial Products company?
The median Return-on-Tangible-Asset among Industrial Products companies is 3.26, based on 3,077 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. Kaori Heat Treatment Co's current Return-on-Tangible-Asset of 28.51% is 774.5% 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 Kaori Heat Treatment Co and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Asset is 3.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kaori Heat Treatment Co's current Return-on-Tangible-Asset is 28.51%, which is 275% above median its own 10-year median of 7.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kaori Heat Treatment Co stock overvalued right now?
Based on GuruFocus' analysis, Kaori Heat Treatment Co (TPE:8996) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$926.87, compared to a current price of NT$1,030.00 — trading 11.1% above its estimated fair value. The current Return-on-Tangible-Asset is 28.51%, which is 275% above median its 10-year median of 7.60 and 774.5% above the Industrial Products industry median of 3.26. Kaori Heat Treatment Co's overall GF Score™ is 87/100 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 Kaori Heat Treatment Co (TPE:8996), the current Return-on-Tangible-Asset is 28.51% 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 Kaori Heat Treatment Co (TPE:8996) Overvalued in 2026?
Based on GuruFocus' analysis, Kaori Heat Treatment Co stock appears to be overvalued.
The current stock price of NT$1,030.00 is trading 11.1% above its estimated GF Value™ of NT$926.87.
GuruFocus considers Kaori Heat Treatment Co to be Modestly Overvalued.
Key valuation signals for TPE:8996:
Return-on-Tangible-Asset: 28.51% (275% above median its 10-year median of 7.60)
GF Value™: NT$926.87 vs. price of NT$1,030.00 (11.1% above fair value)
Industry Position: 774.5% above the Industrial Products median (#119 of 3077)
No single metric tells the full story. See the TPE:8996 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kaori Heat Treatment Co Ltd specializes in producing mechanical hardware, processing fabricated metals, and manufacturing and developing heat exchange products or thermal products. The Group's factories are established in Zhongli, Kaohsiung, etc. Its operating activities include heat treatment processing of various mechanical hardware and fabricated metals, plate heat exchangers, thermal products, and manufacturing activities. The Group operates in a single operating segment of plate heat exchangers, power generation, and thermal energy products. It operates in Asia, America, Europe, and others. The Group generates maximum revenue from America.
87GF Score
Get the complete analysis for TPE:8996
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