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Densan CoTSE:3640 -2.50%69 Return-on-Tangible-Asset is 30.00% as of Mar. 2026, which is 525% above its 10-year median of 4.80. GuruFocus rates TSE:3640 with a GF Score™ of 69/100 and a GF Value™ of 円2,542.70 (Fairly Valued). Among 1,028 Semiconductors companies, Densan Co ranks better than 94.07% 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. Densan Co's annualizedNet Income for the quarter that ended in Mar. 2026 was 円6,637 Mil. Densan Co's average total tangible assets for the quarter that ended in Mar. 2026 was 円22,125 Mil. Therefore, Densan Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 30.00%.
The historical rank and industry rank for Densan Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:3640'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.86 Med: 4.8 Max: 21.09
Current: 21.09
During the past 13 years, Densan Co's highest Return-on-Tangible-Asset was 21.09%. The lowest was -6.86%. And the median was 4.80%.
TSE:3640's Return-on-Tangible-Asset is ranked better than 94.07% of 1028
companies
in the Semiconductors industry
Industry Median: 2.705
vs TSE:3640: 21.09
Densan Co (TSE:3640) 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.
Densan Co Return-on-Tangible-Asset Related Terms
Densan Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Densan 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:3640 vs NVDA, AVGO, MU: Return-on-Tangible-Asset Comparison
For the Semiconductors subindustry, Densan 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.
Densan Co Return-on-Tangible-Asset vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Densan Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Densan 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 two times the semi-annual (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 30.00% mean?
Densan Co (TSE:3640) has a Return-on-Tangible-Asset of 30.00% 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 Densan Co and its competitors. This is 525% above median its historical median of 4.80. According to the industry distribution chart, Densan Co ranks #61 out of 1028 companies in the Semiconductors industry, placing it in the top 5.9%.
Is Densan Co's Return-on-Tangible-Asset too high?
Densan Co's current Return-on-Tangible-Asset of 30.00% is 525% above median its 10-year median of 4.80. The Semiconductors industry median Return-on-Tangible-Asset is 2.71. Densan Co's value of 30.00% is 1009.1% above this industry median. Based on the distribution chart, Densan Co ranks #61 out of 1028 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Densan Co has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Densan Co's Return-on-Tangible-Asset compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Densan Co ranks #61 out of 1028 companies for Return-on-Tangible-Asset. This places Densan Co in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.71. Densan Co's value of 30.00% is 1009.1% above this benchmark. While the company's 10-year median is 4.80 vs. the industry median of 2.71, Densan 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 Semiconductors company?
The median Return-on-Tangible-Asset among Semiconductors companies is 2.71, based on 1,028 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. Densan Co's current Return-on-Tangible-Asset of 30.00% is 1009.1% 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 Densan Co and its competitors. For the Semiconductors industry, the median Return-on-Tangible-Asset is 2.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Densan Co's current Return-on-Tangible-Asset is 30.00%, which is 525% above median its own 10-year median of 4.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Densan Co stock overvalued right now?
Based on GuruFocus' analysis, Densan Co (TSE:3640) is currently considered Fairly Valued. The stock's GF Value™ is 円2,542.70, compared to a current price of 円2,608.00 — trading 2.6% above its estimated fair value. The current Return-on-Tangible-Asset is 30.00%, which is 525% above median its 10-year median of 4.80 and 1009.1% above the Semiconductors industry median of 2.71. Densan Co's overall GF Score™ is 69/100. 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 Densan Co (TSE:3640), the current Return-on-Tangible-Asset is 30.00% 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 Densan Co (TSE:3640) Overvalued in 2026?
Based on GuruFocus' analysis, Densan Co stock appears to be overvalued.
The current stock price of 円2,608.00 is trading 2.6% above its estimated GF Value™ of 円2,542.70.
GuruFocus considers Densan Co to be Fairly Valued.
Key valuation signals for TSE:3640:
Return-on-Tangible-Asset: 30.00% (525% above median its 10-year median of 4.80)
GF Value™: 円2,542.70 vs. price of 円2,608.00 (2.6% above fair value)
Industry Position: 1009.1% above the Semiconductors median (#61 of 1028)
No single metric tells the full story. See the TSE:3640 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Densan Co Ltd is engaged in the development and provision of information systems and related services. Its reporting segments include the Public Sector and the Industrial Sector. In the Public Sector, it serves local governments and related organizations by developing, selling, and supporting package systems, as well as offering equipment sales and information processing services. The Industrial Sector focuses on private enterprises and medical and welfare institutions, offering software development, equipment sales, and various information services. It also includes internet connectivity services for general consumers. It generates the majority of its revenue from the Public Sector segment.
69GF Score
Get the complete analysis for TSE:3640
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