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.
Toho Acetylene CoTSE:4093 -0.23%69 Return-on-Tangible-Asset is 3.37% as of Jun. 2026, which is 7% below its 10-year median of 3.64. GuruFocus rates TSE:4093 with a GF Score™ of 69/100 and a GF Value™ of 円353.50 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,625 Chemicals companies, Toho Acetylene Co ranks better than 52.37% 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. Toho Acetylene Co's annualizedNet Income for the quarter that ended in Jun. 2026 was 円1,144 Mil. Toho Acetylene Co's average total tangible assets for the quarter that ended in Jun. 2026 was 円0 Mil. Therefore, Toho Acetylene Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 3.37%.
The historical rank and industry rank for Toho Acetylene Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:4093'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.52 Med: 3.64 Max: 4.55
Current: 3.85
During the past 13 years, Toho Acetylene Co's highest Return-on-Tangible-Asset was 4.55%. The lowest was 2.52%. And the median was 3.64%.
TSE:4093's Return-on-Tangible-Asset is ranked better than 52.37% of 1625
companies
in the Chemicals industry
Industry Median: 3.63
vs TSE:4093: 3.85
Toho Acetylene Co (TSE:4093) 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.
Toho Acetylene Co Return-on-Tangible-Asset Related Terms
Toho Acetylene Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Toho Acetylene 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:4093 vs DOW: Return-on-Tangible-Asset Comparison
For the Chemicals subindustry, Toho Acetylene 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.
Toho Acetylene Co Return-on-Tangible-Asset vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Toho Acetylene Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Toho Acetylene 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 (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.37% mean?
Toho Acetylene Co (TSE:4093) has a Return-on-Tangible-Asset of 3.37% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Toho Acetylene Co and its competitors. This is near median its historical median of 3.64. Over the past decade, Toho Acetylene Co's Return-on-Tangible-Asset has ranged from 2.52 to 4.55. According to the industry distribution chart, Toho Acetylene Co ranks #774 out of 1625 companies in the Chemicals industry, placing it in the top 47.6%.
Is Toho Acetylene Co's Return-on-Tangible-Asset too high?
Toho Acetylene Co's current Return-on-Tangible-Asset of 3.37% is near median its 10-year median of 3.64. Over the past 10 years, this metric has ranged from a low of 2.52 to a high of 4.55. The Chemicals industry median Return-on-Tangible-Asset is 3.63. Toho Acetylene Co's value of 3.37% is 7.2% below this industry median. Based on the distribution chart, Toho Acetylene Co ranks #774 out of 1625 companies in the Chemicals industry, which is above the industry midpoint. Overall, Toho Acetylene Co has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Toho Acetylene Co's Return-on-Tangible-Asset compare to DOW?
According to the Chemicals industry distribution chart, Toho Acetylene Co ranks #774 out of 1625 companies for Return-on-Tangible-Asset. This puts Toho Acetylene Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.63. Toho Acetylene Co's value of 3.37% is 7.2% below this benchmark. Historically, Toho Acetylene Co's own Return-on-Tangible-Asset has ranged from 2.52 to 4.55 over the past decade. While the company's 10-year median is 3.64 vs. the industry median of 3.63, Toho Acetylene Co 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 Chemicals company?
The median Return-on-Tangible-Asset among Chemicals companies is 3.63, based on 1,625 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. Toho Acetylene Co's current Return-on-Tangible-Asset of 3.37% is 7.2% 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 Toho Acetylene Co and its competitors. For the Chemicals industry, the median Return-on-Tangible-Asset is 3.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toho Acetylene Co's current Return-on-Tangible-Asset is 3.37%, which is near median its own 10-year median of 3.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toho Acetylene Co stock overvalued right now?
Based on GuruFocus' analysis, Toho Acetylene Co (TSE:4093) is currently considered Modestly Overvalued. The stock's GF Value™ is 円353.50, compared to a current price of 円433.00 — trading 22.5% above its estimated fair value. The current Return-on-Tangible-Asset is 3.37%, which is near median its 10-year median of 3.64 and 7.2% below the Chemicals industry median of 3.63. Toho Acetylene Co's overall GF Score™ is 69/100 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 Toho Acetylene Co (TSE:4093), the current Return-on-Tangible-Asset is 3.37% as of Jun. 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 Toho Acetylene Co (TSE:4093) Overvalued in 2026?
Based on GuruFocus' analysis, Toho Acetylene Co stock appears to be overvalued.
The current stock price of 円433.00 is trading 22.5% above its estimated GF Value™ of 円353.50.
GuruFocus considers Toho Acetylene Co to be Modestly Overvalued.
Key valuation signals for TSE:4093:
Return-on-Tangible-Asset: 3.37% (near median its 10-year median of 3.64)
GF Value™: 円353.50 vs. price of 円433.00 (22.5% above fair value)
Industry Position: 7.2% below the Chemicals median (#774 of 1625)
No single metric tells the full story. See the TSE:4093 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toho Acetylene Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of high-pressure gases. It is organized in three business segments - Gas related business, Equipment related business and Automotive Equipment related business. It offers dissolve acetylene, acid, glutinous, liquefied petroleum gas, solution materials, fusion cutting equipment, containers, and life-related equipment.
69GF Score
Get the complete analysis for TSE:4093
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:4093 has been successfully added to your 
