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MorinagaTSE:2201 -0.40%85 Return-on-Tangible-Asset is 4.02% as of Mar. 2026, which is 43% below its 10-year median of 7.00. GuruFocus rates TSE:2201 with a GF Score™ of 85/100 and a GF Value™ of 円3,110.35 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,994 Consumer Packaged Goods companies, Morinaga ranks better than 75.53% 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. Morinaga's annualizedNet Income for the quarter that ended in Mar. 2026 was 円8,844 Mil. Morinaga's average total tangible assets for the quarter that ended in Mar. 2026 was 円220,211 Mil. Therefore, Morinaga's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 4.02%.
The historical rank and industry rank for Morinaga's Return-on-Tangible-Asset or its related term are showing as below:
TSE:2201'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.81 Med: 7 Max: 13.34
Current: 8.38
During the past 13 years, Morinaga's highest Return-on-Tangible-Asset was 13.34%. The lowest was 4.81%. And the median was 7.00%.
TSE:2201's Return-on-Tangible-Asset is ranked better than 75.53% of 1994
companies
in the Consumer Packaged Goods industry
Industry Median: 3.45
vs TSE:2201: 8.38
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.
Morinaga Return-on-Tangible-Asset Related Terms
Morinaga Return-on-Tangible-Asset Historical Data
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The historical data trend for Morinaga'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:2201 vs MDLZ, HSY, TR: Return-on-Tangible-Asset Comparison
For the Confectioners subindustry, Morinaga'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.
Morinaga Return-on-Tangible-Asset vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Morinaga'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 4.02% mean?
Morinaga (TSE:2201) has a Return-on-Tangible-Asset of 4.02% 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 Morinaga and its competitors. This is 43% below median its historical median of 7.00. Over the past decade, Morinaga's Return-on-Tangible-Asset has ranged from 4.81 to 13.34. According to the industry distribution chart, Morinaga ranks #488 out of 1994 companies in the Consumer Packaged Goods industry, placing it in the top 24.5%.
Is Morinaga's Return-on-Tangible-Asset too high?
Morinaga's current Return-on-Tangible-Asset of 4.02% is 43% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.81 to a high of 13.34. The Consumer Packaged Goods industry median Return-on-Tangible-Asset is 3.45. Morinaga's value of 4.02% is 16.5% above this industry median. Based on the distribution chart, Morinaga ranks #488 out of 1994 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Morinaga has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga's Return-on-Tangible-Asset compare to MDLZ and HSY?
According to the Consumer Packaged Goods industry distribution chart, Morinaga ranks #488 out of 1994 companies for Return-on-Tangible-Asset. This places Morinaga in the top 25% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.45. Morinaga's value of 4.02% is 16.5% above this benchmark. Historically, Morinaga's own Return-on-Tangible-Asset has ranged from 4.81 to 13.34 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 3.45, Morinaga 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 Consumer Packaged Goods company?
The median Return-on-Tangible-Asset among Consumer Packaged Goods companies is 3.45, based on 1,994 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. Morinaga's current Return-on-Tangible-Asset of 4.02% is 16.5% 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 Morinaga and its competitors. For the Consumer Packaged Goods industry, the median Return-on-Tangible-Asset is 3.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga's current Return-on-Tangible-Asset is 4.02%, which is 43% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga stock overvalued right now?
Based on GuruFocus' analysis, Morinaga (TSE:2201) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,110.35, compared to a current price of 円2,647.50 — trading 14.9% below its estimated fair value. The current Return-on-Tangible-Asset is 4.02%, which is 43% below median its 10-year median of 7.00 and 16.5% above the Consumer Packaged Goods industry median of 3.45. Morinaga's overall GF Score™ is 85/100 with 4 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 Morinaga (TSE:2201), the current Return-on-Tangible-Asset is 4.02% 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 Morinaga (TSE:2201) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga stock appears to be undervalued.
The current stock price of 円2,647.50 is trading 14.9% below its estimated GF Value™ of 円3,110.35.
GuruFocus considers Morinaga to be Modestly Undervalued.
Key valuation signals for TSE:2201:
Return-on-Tangible-Asset: 4.02% (43% below median its 10-year median of 7.00)
GF Value™: 円3,110.35 vs. price of 円2,647.50 (14.9% below fair value)
Industry Position: 16.5% above the Consumer Packaged Goods median (#488 of 1994)
No single metric tells the full story. See the TSE:2201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga & Co Ltd is a Japan-based confectionery company. It has developed a diverse range of confectionery products, canned soft drinks and ice cream that are delicious, fun, and healthy. The company's products are divided into five main divisions, Confectioneries, Foods, Frozen Desserts, Weider, and Healthcare. Confectionaries include Morinaga Biscuits, Chocoball chocolate, Dars chocolate, Koeda chocolate, and HI-CHEW candy. Foods include Morinaga Cocoa; Frozen Desserts include Choco Monaka Jumbo; Weider products include Weider in Jelly; and Healthcare products include Seisho-sabo, Kenpo-shukan, and Collagen drink.
85GF Score
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