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Merida Industry CoTPE:9914 -2.04%71 Return-on-Tangible-Asset is 3.65% as of Mar. 2026, which is 56% below its 10-year median of 8.27. GuruFocus rates TPE:9914 with a GF Score™ of 71/100 and a GF Value™ of NT$130.82 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 857 Travel & Leisure companies, Merida Industry Co ranks better than 51.69% 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. Merida Industry Co's annualizedNet Income for the quarter that ended in Mar. 2026 was NT$1,303 Mil. Merida Industry Co's average total tangible assets for the quarter that ended in Mar. 2026 was NT$35,661 Mil. Therefore, Merida Industry Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.65%.
The historical rank and industry rank for Merida Industry Co's Return-on-Tangible-Asset or its related term are showing as below:
TPE:9914'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.85 Med: 8.27 Max: 14.45
Current: 3.05
During the past 13 years, Merida Industry Co's highest Return-on-Tangible-Asset was 14.45%. The lowest was -1.85%. And the median was 8.27%.
TPE:9914's Return-on-Tangible-Asset is ranked better than 51.69% of 857
companies
in the Travel & Leisure industry
Industry Median: 2.86
vs TPE:9914: 3.05
Merida Industry Co (TPE:9914) 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.
Merida Industry Co Return-on-Tangible-Asset Related Terms
Merida Industry Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Merida Industry 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:9914 vs AS, HAS, LTH: Return-on-Tangible-Asset Comparison
For the Leisure subindustry, Merida Industry 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.
Merida Industry Co Return-on-Tangible-Asset vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Merida Industry Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Merida Industry 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 3.65% mean?
Merida Industry Co (TPE:9914) has a Return-on-Tangible-Asset of 3.65% 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 Merida Industry Co and its competitors. This is 56% below median its historical median of 8.27. According to the industry distribution chart, Merida Industry Co ranks #414 out of 857 companies in the Travel & Leisure industry, placing it in the top 48.3%.
Is Merida Industry Co's Return-on-Tangible-Asset too high?
Merida Industry Co's current Return-on-Tangible-Asset of 3.65% is 56% below median its 10-year median of 8.27. The Travel & Leisure industry median Return-on-Tangible-Asset is 2.86. Merida Industry Co's value of 3.65% is 27.6% above this industry median. Based on the distribution chart, Merida Industry Co ranks #414 out of 857 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Merida Industry Co has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merida Industry Co's Return-on-Tangible-Asset compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Merida Industry Co ranks #414 out of 857 companies for Return-on-Tangible-Asset. This puts Merida Industry Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.86. Merida Industry Co's value of 3.65% is 27.6% above this benchmark. While the company's 10-year median is 8.27 vs. the industry median of 2.86, Merida Industry 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 Travel & Leisure company?
The median Return-on-Tangible-Asset among Travel & Leisure companies is 2.86, based on 857 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. Merida Industry Co's current Return-on-Tangible-Asset of 3.65% is 27.6% 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 Merida Industry Co and its competitors. For the Travel & Leisure industry, the median Return-on-Tangible-Asset is 2.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merida Industry Co's current Return-on-Tangible-Asset is 3.65%, which is 56% below median its own 10-year median of 8.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merida Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Merida Industry Co (TPE:9914) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$130.82, compared to a current price of NT$76.80 — trading 41.3% below its estimated fair value. The current Return-on-Tangible-Asset is 3.65%, which is 56% below median its 10-year median of 8.27 and 27.6% above the Travel & Leisure industry median of 2.86. Merida Industry Co's overall GF Score™ is 71/100 with 5 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 Merida Industry Co (TPE:9914), the current Return-on-Tangible-Asset is 3.65% 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 Merida Industry Co (TPE:9914) Overvalued in 2026?
Based on GuruFocus' analysis, Merida Industry Co stock appears to be undervalued.
The current stock price of NT$76.80 is trading 41.3% below its estimated GF Value™ of NT$130.82.
GuruFocus considers Merida Industry Co to be Significantly Undervalued.
Key valuation signals for TPE:9914:
Return-on-Tangible-Asset: 3.65% (56% below median its 10-year median of 8.27)
GF Value™: NT$130.82 vs. price of NT$76.80 (41.3% below fair value)
Industry Position: 27.6% above the Travel & Leisure median (#414 of 857)
No single metric tells the full story. See the TPE:9914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merida Industry Co Ltd is a manufacturer and distributor of bicycles and bicycle-related components, domiciled in Taiwan. The company produces bicycles for both recreational and professional use. Products include mountain bicycles, road and racing bicycles, bicycle motocross, or BMX, folding bicycles, children and youth bicycles, electric bicycles, helmets, components, and related parts and accessories. It distributes bicycles and components both domestically and internationally, and products are largely sold under the Merida brand name.
71GF Score
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