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Base CoTSE:4481 +0.96%97 Return-on-Tangible-Asset is 24.84% as of Dec. 2025, which is 26% above its 10-year median of 19.64. GuruFocus rates TSE:4481 with a GF Score™ of 97/100 and a GF Value™ of 円3,870.80 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 2,894 Software companies, Base Co ranks better than 93.19% 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. Base Co's annualizedNet Income for the quarter that ended in Dec. 2025 was 円4,546 Mil. Base Co's average total tangible assets for the quarter that ended in Dec. 2025 was 円18,302 Mil. Therefore, Base Co's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 24.84%.
The historical rank and industry rank for Base Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:4481'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.59 Med: 19.64 Max: 23.59
Current: 23.59
During the past 9 years, Base Co's highest Return-on-Tangible-Asset was 23.59%. The lowest was 7.59%. And the median was 19.64%.
TSE:4481's Return-on-Tangible-Asset is ranked better than 93.19% of 2894
companies
in the Software industry
Industry Median: 2.095
vs TSE:4481: 23.59
Base Co (TSE:4481) 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.
Base Co Return-on-Tangible-Asset Related Terms
Base Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Base 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:4481 vs QH, SHOP, UBER: Return-on-Tangible-Asset Comparison
For the Software - Application subindustry, Base 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.
Base Co Return-on-Tangible-Asset vs Software Industry
For the Software industry and Technology sector, Base Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Base 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 (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 24.84% mean?
Base Co (TSE:4481) has a Return-on-Tangible-Asset of 24.84% 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 Base Co and its competitors. This is 26% above median its historical median of 19.64. Over the past decade, Base Co's Return-on-Tangible-Asset has ranged from 7.59 to 23.59. According to the industry distribution chart, Base Co ranks #197 out of 2894 companies in the Software industry, placing it in the top 6.8%.
Is Base Co's Return-on-Tangible-Asset too high?
Base Co's current Return-on-Tangible-Asset of 24.84% is 26% above median its 10-year median of 19.64. Over the past 10 years, this metric has ranged from a low of 7.59 to a high of 23.59. The Software industry median Return-on-Tangible-Asset is 2.10. Base Co's value of 24.84% is 1085.7% above this industry median. Based on the distribution chart, Base Co ranks #197 out of 2894 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Base Co has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Base Co's Return-on-Tangible-Asset compare to QH and SHOP?
According to the Software industry distribution chart, Base Co ranks #197 out of 2894 companies for Return-on-Tangible-Asset. This places Base Co in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.10. Base Co's value of 24.84% is 1085.7% above this benchmark. Historically, Base Co's own Return-on-Tangible-Asset has ranged from 7.59 to 23.59 over the past decade. While the company's 10-year median is 19.64 vs. the industry median of 2.10, Base 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 Software company?
The median Return-on-Tangible-Asset among Software companies is 2.10, based on 2,894 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. Base Co's current Return-on-Tangible-Asset of 24.84% is 1085.7% 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 Base Co and its competitors. For the Software industry, the median Return-on-Tangible-Asset is 2.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Base Co's current Return-on-Tangible-Asset is 24.84%, which is 26% above median its own 10-year median of 19.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Base Co stock overvalued right now?
Based on GuruFocus' analysis, Base Co (TSE:4481) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,870.80, compared to a current price of 円3,160.00 — trading 18.4% below its estimated fair value. The current Return-on-Tangible-Asset is 24.84%, which is 26% above median its 10-year median of 19.64 and 1085.7% above the Software industry median of 2.10. Base Co's overall GF Score™ is 97/100 with 1 warning sign 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 Base Co (TSE:4481), the current Return-on-Tangible-Asset is 24.84% 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 Base Co (TSE:4481) Overvalued in 2026?
Based on GuruFocus' analysis, Base Co stock appears to be undervalued.
The current stock price of 円3,160.00 is trading 18.4% below its estimated GF Value™ of 円3,870.80.
GuruFocus considers Base Co to be Modestly Undervalued.
Key valuation signals for TSE:4481:
Return-on-Tangible-Asset: 24.84% (26% above median its 10-year median of 19.64)
GF Value™: 円3,870.80 vs. price of 円3,160.00 (18.4% below fair value)
Industry Position: 1085.7% above the Software median (#197 of 2894)
No single metric tells the full story. See the TSE:4481 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Base Co Ltd is engaged in providing computer software development and related activities. The company's activities include System development, System operation and maintenance, SAP implementation and maintenance support, e-KYC / Online identity verification service, BPO support using ICT, among others.
97GF Score
Get the complete analysis for TSE:4481
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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