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.
JM Holdings CoTSE:3539 +2.01%82 Return-on-Tangible-Asset is 10.40% as of Jan. 2026, which is 28% above its 10-year median of 8.12. GuruFocus rates TSE:3539 with a GF Score™ of 82/100 and a GF Value™ of 円1,461.18 (Fairly Valued). The stock has 2 warning signs investors should review. Among 314 Retail - Defensive companies, JM Holdings Co ranks better than 78.66% 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. JM Holdings Co's annualizedNet Income for the quarter that ended in Jan. 2026 was 円7,852 Mil. JM Holdings Co's average total tangible assets for the quarter that ended in Jan. 2026 was 円75,500 Mil. Therefore, JM Holdings Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jan. 2026 was 10.40%.
The historical rank and industry rank for JM Holdings Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:3539'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.32 Med: 8.12 Max: 9.28
Current: 8.37
During the past 11 years, JM Holdings Co's highest Return-on-Tangible-Asset was 9.28%. The lowest was 7.32%. And the median was 8.12%.
TSE:3539's Return-on-Tangible-Asset is ranked better than 78.66% of 314
companies
in the Retail - Defensive industry
Industry Median: 3.855
vs TSE:3539: 8.37
JM Holdings Co (TSE:3539) 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.
JM Holdings Co Return-on-Tangible-Asset Related Terms
JM Holdings Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for JM Holdings 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.
TSE:3539 vs KR: Return-on-Tangible-Asset Comparison
For the Grocery Stores subindustry, JM Holdings 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.
JM Holdings Co Return-on-Tangible-Asset vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, JM Holdings Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where JM Holdings 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 (Jan. 2026) net income data.
What does a Return-on-Tangible-Asset of 10.40% mean?
JM Holdings Co (TSE:3539) has a Return-on-Tangible-Asset of 10.40% as of Jan. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on JM Holdings Co and its competitors. This is 28% above median its historical median of 8.12. Over the past decade, JM Holdings Co's Return-on-Tangible-Asset has ranged from 7.32 to 9.28. According to the industry distribution chart, JM Holdings Co ranks #67 out of 314 companies in the Retail - Defensive industry, placing it in the top 21.3%.
Is JM Holdings Co's Return-on-Tangible-Asset too high?
JM Holdings Co's current Return-on-Tangible-Asset of 10.40% is 28% above median its 10-year median of 8.12. Over the past 10 years, this metric has ranged from a low of 7.32 to a high of 9.28. The Retail - Defensive industry median Return-on-Tangible-Asset is 3.86. JM Holdings Co's value of 10.40% is 169.8% above this industry median. Based on the distribution chart, JM Holdings Co ranks #67 out of 314 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers. Overall, JM Holdings Co has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does JM Holdings Co's Return-on-Tangible-Asset compare to KR?
According to the Retail - Defensive industry distribution chart, JM Holdings Co ranks #67 out of 314 companies for Return-on-Tangible-Asset. This places JM Holdings Co in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.86. JM Holdings Co's value of 10.40% is 169.8% above this benchmark. Historically, JM Holdings Co's own Return-on-Tangible-Asset has ranged from 7.32 to 9.28 over the past decade. While the company's 10-year median is 8.12 vs. the industry median of 3.86, JM Holdings 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 Retail - Defensive company?
The median Return-on-Tangible-Asset among Retail - Defensive companies is 3.86, based on 314 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. JM Holdings Co's current Return-on-Tangible-Asset of 10.40% is 169.8% 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 JM Holdings Co and its competitors. For the Retail - Defensive industry, the median Return-on-Tangible-Asset is 3.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JM Holdings Co's current Return-on-Tangible-Asset is 10.40%, which is 28% above median its own 10-year median of 8.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JM Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, JM Holdings Co (TSE:3539) is currently considered Fairly Valued. The stock's GF Value™ is 円1,461.18, compared to a current price of 円1,370.00 — trading 6.2% below its estimated fair value. The current Return-on-Tangible-Asset is 10.40%, which is 28% above median its 10-year median of 8.12 and 169.8% above the Retail - Defensive industry median of 3.86. JM Holdings Co's overall GF Score™ is 82/100 with 2 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 JM Holdings Co (TSE:3539), the current Return-on-Tangible-Asset is 10.40% as of Jan. 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 JM Holdings Co (TSE:3539) Overvalued in 2026?
Based on GuruFocus' analysis, JM Holdings Co stock appears to be undervalued.
The current stock price of 円1,370.00 is trading 6.2% below its estimated GF Value™ of 円1,461.18.
GuruFocus considers JM Holdings Co to be Fairly Valued.
Key valuation signals for TSE:3539:
Return-on-Tangible-Asset: 10.40% (28% above median its 10-year median of 8.12)
GF Value™: 円1,461.18 vs. price of 円1,370.00 (6.2% below fair value)
Industry Position: 169.8% above the Retail - Defensive median (#67 of 314)
No single metric tells the full story. See the TSE:3539 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JM Holdings Co Ltd operates food supermarkets that retail meat products, fresh vegetables, fishes and other daily food products. The company also manages beef barbecue restaurants. It offers meat products, including meat processed goods, and frozen and refrigerated processed products, as well as meat of cow, chicken, and ham, as well as pork; food products comprising seasonings, processed foods, rice, bread, sake, noodles, eggs, dairy products; and vegetables, fruits, vegetables and fruits processed products, fresh juices, and cakes. It also provides fish products, sushi, dried fish, seaweed, shellfish, crustaceans, marine processing; and prepared foods, including lunch and fried foods, and tonkatsu, as well as salads, boiled foods, pottery, steamed foods.
82GF Score
Get the complete analysis for TSE:3539
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:3539 has been successfully added to your 
