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Toa RoadTSE:1882 +0.56%67 Return-on-Tangible-Asset is 6.99% as of Mar. 2026, which is 73% above its 10-year median of 4.04. GuruFocus rates TSE:1882 with a GF Score™ of 67/100 and a GF Value™ of 円1,410.52 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,788 Construction companies, Toa Road ranks better than 56.49% 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. Toa Road's annualizedNet Income for the quarter that ended in Mar. 2026 was 円5,914 Mil. Toa Road's average total tangible assets for the quarter that ended in Mar. 2026 was 円84,659 Mil. Therefore, Toa Road's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 6.99%.
The historical rank and industry rank for Toa Road's Return-on-Tangible-Asset or its related term are showing as below:
TSE:1882'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.26 Med: 4.04 Max: 5.49
Current: 3.96
During the past 13 years, Toa Road's highest Return-on-Tangible-Asset was 5.49%. The lowest was -0.26%. And the median was 4.04%.
TSE:1882's Return-on-Tangible-Asset is ranked better than 56.49% of 1788
companies
in the Construction industry
Industry Median: 3.03
vs TSE:1882: 3.96
Toa Road (TSE:1882) 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.
Toa Road Return-on-Tangible-Asset Related Terms
Toa Road Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Toa Road'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.
TSE:1882 vs PWR, FIX, EME: Return-on-Tangible-Asset Comparison
For the Engineering & Construction subindustry, Toa Road'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.
Toa Road Return-on-Tangible-Asset vs Construction Industry
For the Construction industry and Industrials sector, Toa Road's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Toa Road'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 two times the semi-annual (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 6.99% mean?
Toa Road (TSE:1882) has a Return-on-Tangible-Asset of 6.99% 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 Toa Road and its competitors. This is 73% above median its historical median of 4.04. According to the industry distribution chart, Toa Road ranks #778 out of 1788 companies in the Construction industry, placing it in the top 43.5%.
Is Toa Road's Return-on-Tangible-Asset too high?
Toa Road's current Return-on-Tangible-Asset of 6.99% is 73% above median its 10-year median of 4.04. The Construction industry median Return-on-Tangible-Asset is 3.03. Toa Road's value of 6.99% is 130.7% above this industry median. Based on the distribution chart, Toa Road ranks #778 out of 1788 companies in the Construction industry, which is above the industry midpoint. Overall, Toa Road has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Toa Road's Return-on-Tangible-Asset compare to PWR and FIX?
According to the Construction industry distribution chart, Toa Road ranks #778 out of 1788 companies for Return-on-Tangible-Asset. This puts Toa Road in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.03. Toa Road's value of 6.99% is 130.7% above this benchmark. While the company's 10-year median is 4.04 vs. the industry median of 3.03, Toa Road 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 Construction company?
The median Return-on-Tangible-Asset among Construction companies is 3.03, based on 1,788 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. Toa Road's current Return-on-Tangible-Asset of 6.99% is 130.7% 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 Toa Road and its competitors. For the Construction industry, the median Return-on-Tangible-Asset is 3.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toa Road's current Return-on-Tangible-Asset is 6.99%, which is 73% above median its own 10-year median of 4.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toa Road stock overvalued right now?
Based on GuruFocus' analysis, Toa Road (TSE:1882) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,410.52, compared to a current price of 円1,610.00 — trading 14.1% above its estimated fair value. The current Return-on-Tangible-Asset is 6.99%, which is 73% above median its 10-year median of 4.04 and 130.7% above the Construction industry median of 3.03. Toa Road's overall GF Score™ is 67/100 with 6 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 Toa Road (TSE:1882), the current Return-on-Tangible-Asset is 6.99% 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 Toa Road (TSE:1882) Overvalued in 2026?
Based on GuruFocus' analysis, Toa Road stock appears to be overvalued.
The current stock price of 円1,610.00 is trading 14.1% above its estimated GF Value™ of 円1,410.52.
GuruFocus considers Toa Road to be Modestly Overvalued.
Key valuation signals for TSE:1882:
Return-on-Tangible-Asset: 6.99% (73% above median its 10-year median of 4.04)
GF Value™: 円1,410.52 vs. price of 円1,610.00 (14.1% above fair value)
Industry Position: 130.7% above the Construction median (#778 of 1788)
No single metric tells the full story. See the TSE:1882 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toa Road Corp provides construction services. It is focused on constructing road networks and transportation infrastructure including expressways and national roads. The company also develops and sells asphalt products and provides environmental solutions and consultancy services like road maintenance plans that integrate pavement maintenance techniques with asset management.
67GF Score
Get the complete analysis for TSE:1882
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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