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NIPPON REIT InvestmentTSE:3296 -1.09%64 Return-on-Tangible-Asset is 5.00% as of Dec. 2025, which is 59% above its 10-year median of 3.15. GuruFocus rates TSE:3296 with a GF Score™ of 64/100 and a GF Value™ of 円93,812.98 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 925 REITs companies, NIPPON REIT Investment ranks better than 65.62% 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. NIPPON REIT Investment's annualizedNet Income for the quarter that ended in Dec. 2025 was 円13,300 Mil. NIPPON REIT Investment's average total tangible assets for the quarter that ended in Dec. 2025 was 円265,898 Mil. Therefore, NIPPON REIT Investment's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 5.00%.
The historical rank and industry rank for NIPPON REIT Investment's Return-on-Tangible-Asset or its related term are showing as below:
TSE:3296'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.46 Med: 3.15 Max: 4.84
Current: 4.84
During the past 11 years, NIPPON REIT Investment's highest Return-on-Tangible-Asset was 4.84%. The lowest was 0.46%. And the median was 3.15%.
TSE:3296's Return-on-Tangible-Asset is ranked better than 65.62% of 925
companies
in the REITs industry
Industry Median: 3.29
vs TSE:3296: 4.84
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.
NIPPON REIT Investment Return-on-Tangible-Asset Related Terms
NIPPON REIT Investment Return-on-Tangible-Asset Historical Data
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The historical data trend for NIPPON REIT Investment'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:3296 vs BXP, ARE, VNO: Return-on-Tangible-Asset Comparison
For the REIT - Office subindustry, NIPPON REIT Investment'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.
NIPPON REIT Investment Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, NIPPON REIT Investment's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NIPPON REIT Investment'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 (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 5.00% mean?
NIPPON REIT Investment (TSE:3296) has a Return-on-Tangible-Asset of 5.00% 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 NIPPON REIT Investment and its competitors. This is 59% above median its historical median of 3.15. Over the past decade, NIPPON REIT Investment's Return-on-Tangible-Asset has ranged from 0.46 to 4.84. According to the industry distribution chart, NIPPON REIT Investment ranks #318 out of 925 companies in the REITs industry, placing it in the top 34.4%.
Is NIPPON REIT Investment's Return-on-Tangible-Asset too high?
NIPPON REIT Investment's current Return-on-Tangible-Asset of 5.00% is 59% above median its 10-year median of 3.15. Over the past 10 years, this metric has ranged from a low of 0.46 to a high of 4.84. The REITs industry median Return-on-Tangible-Asset is 3.29. NIPPON REIT Investment's value of 5.00% is 52% above this industry median. Based on the distribution chart, NIPPON REIT Investment ranks #318 out of 925 companies in the REITs industry, which is above the industry midpoint. Overall, NIPPON REIT Investment has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NIPPON REIT Investment's Return-on-Tangible-Asset compare to BXP and ARE?
According to the REITs industry distribution chart, NIPPON REIT Investment ranks #318 out of 925 companies for Return-on-Tangible-Asset. This puts NIPPON REIT Investment in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.29. NIPPON REIT Investment's value of 5.00% is 52% above this benchmark. Historically, NIPPON REIT Investment's own Return-on-Tangible-Asset has ranged from 0.46 to 4.84 over the past decade. While the company's 10-year median is 3.15 vs. the industry median of 3.29, NIPPON REIT Investment 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.29, based on 925 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. NIPPON REIT Investment's current Return-on-Tangible-Asset of 5.00% is 52% 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 NIPPON REIT Investment and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NIPPON REIT Investment's current Return-on-Tangible-Asset is 5.00%, which is 59% above median its own 10-year median of 3.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NIPPON REIT Investment stock overvalued right now?
Based on GuruFocus' analysis, NIPPON REIT Investment (TSE:3296) is currently considered Modestly Undervalued. The stock's GF Value™ is 円93,812.98, compared to a current price of 円81,600.00 — trading 13% below its estimated fair value. The current Return-on-Tangible-Asset is 5.00%, which is 59% above median its 10-year median of 3.15 and 52% above the REITs industry median of 3.29. NIPPON REIT Investment's overall GF Score™ is 64/100 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 NIPPON REIT Investment (TSE:3296), the current Return-on-Tangible-Asset is 5.00% 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 NIPPON REIT Investment (TSE:3296) Overvalued in 2026?
Based on GuruFocus' analysis, NIPPON REIT Investment stock appears to be undervalued.
The current stock price of 円81,600.00 is trading 13% below its estimated GF Value™ of 円93,812.98.
GuruFocus considers NIPPON REIT Investment to be Modestly Undervalued.
Key valuation signals for TSE:3296:
Return-on-Tangible-Asset: 5.00% (59% above median its 10-year median of 3.15)
GF Value™: 円93,812.98 vs. price of 円81,600.00 (13% below fair value)
Industry Position: 52% above the REITs median (#318 of 925)
No single metric tells the full story. See the TSE:3296 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NIPPON REIT Investment Corp is engaged in the property leasing business. The company manages assets by investing the funds paid in by the unitholders principally in real estate-related assets. The company develops a portfolio of properties focused on income growth and stability, aiming to maximize unitholder value.
64GF Score
Get the complete analysis for TSE:3296
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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