Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Mitsubishi Estate Logistics REIT Investment Return-on-Tangible-Asset Related Terms
Mitsubishi Estate Logistics REIT Investment Return-on-Tangible-Asset Historical Data
* 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:3481 vs PLD, PSA, EXR: Return-on-Tangible-Asset Comparison
For the REIT - Industrial subindustry, Mitsubishi Estate Logistics 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.
Mitsubishi Estate Logistics REIT Investment Return-on-Tangible-Asset vs REITs Industry
* 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 (Feb. 2026) net income data.
What does a Return-on-Tangible-Asset of 2.69% mean?
Mitsubishi Estate Logistics REIT Investment (TSE:3481) has a Return-on-Tangible-Asset of 2.69% as of Feb. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Mitsubishi Estate Logistics REIT Investment and its competitors. This is near median its historical median of 2.95. Over the past decade, Mitsubishi Estate Logistics REIT Investment's Return-on-Tangible-Asset has ranged from 2.68 to 5.08. According to the industry distribution chart, Mitsubishi Estate Logistics REIT Investment ranks #530 out of 928 companies in the REITs industry, placing it in the top 57.1%.
Is Mitsubishi Estate Logistics REIT Investment's Return-on-Tangible-Asset too high?
Mitsubishi Estate Logistics REIT Investment's current Return-on-Tangible-Asset of 2.69% is near median its 10-year median of 2.95. Over the past 10 years, this metric has ranged from a low of 2.68 to a high of 5.08. The REITs industry median Return-on-Tangible-Asset is 3.29. Mitsubishi Estate Logistics REIT Investment's value of 2.69% is 18.1% below this industry median. Based on the distribution chart, Mitsubishi Estate Logistics REIT Investment ranks #530 out of 928 companies in the REITs industry, which is below the industry midpoint. Overall, Mitsubishi Estate Logistics REIT Investment has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mitsubishi Estate Logistics REIT Investment's Return-on-Tangible-Asset compare to PLD and PSA?
According to the REITs industry distribution chart, Mitsubishi Estate Logistics REIT Investment ranks #530 out of 928 companies for Return-on-Tangible-Asset. This places Mitsubishi Estate Logistics REIT Investment in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.29. Mitsubishi Estate Logistics REIT Investment's value of 2.69% is 18.1% below this benchmark. Historically, Mitsubishi Estate Logistics REIT Investment's own Return-on-Tangible-Asset has ranged from 2.68 to 5.08 over the past decade. While the company's 10-year median is 2.95 vs. the industry median of 3.29, Mitsubishi Estate Logistics REIT Investment has consistently been below 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 928 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. Mitsubishi Estate Logistics REIT Investment's current Return-on-Tangible-Asset of 2.69% is 18.1% below 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 Mitsubishi Estate Logistics 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. Mitsubishi Estate Logistics REIT Investment's current Return-on-Tangible-Asset is 2.69%, which is near median its own 10-year median of 2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mitsubishi Estate Logistics REIT Investment stock overvalued right now?
Based on GuruFocus' analysis, Mitsubishi Estate Logistics REIT Investment (TSE:3481) is currently considered Modestly Undervalued. The stock's GF Value™ is 円134,268.31, compared to a current price of 円120,500.00 — trading 10.3% below its estimated fair value. The current Return-on-Tangible-Asset is 2.69%, which is near median its 10-year median of 2.95 and 18.1% below the REITs industry median of 3.29. Mitsubishi Estate Logistics REIT Investment's overall GF Score™ is 79/100 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 Mitsubishi Estate Logistics REIT Investment (TSE:3481), the current Return-on-Tangible-Asset is 2.69% as of Feb. 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 Mitsubishi Estate Logistics REIT Investment (TSE:3481) Overvalued in 2026?
Based on GuruFocus' analysis, Mitsubishi Estate Logistics REIT Investment stock appears to be undervalued.
The current stock price of 円120,500.00 is trading 10.3% below its estimated GF Value™ of 円134,268.31.
GuruFocus considers Mitsubishi Estate Logistics REIT Investment to be Modestly Undervalued.
Key valuation signals for TSE:3481:
Return-on-Tangible-Asset: 2.69% (near median its 10-year median of 2.95)
GF Value™: 円134,268.31 vs. price of 円120,500.00 (10.3% below fair value)
Industry Position: 18.1% below the REITs median (#530 of 928)
No single metric tells the full story. See the TSE:3481 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mitsubishi Estate Logistics REIT Investment Corp operates as a real estate investment trust with logistics facilities as its main investment target. Its portfolio consists of eight properties, mainly located in the Tokyo metropolitan area.
79GF Score
Get the complete analysis for TSE:3481
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:3481 has been successfully added to your 
