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Forval TelecomTSE:9445 +0.19%71 Return-on-Tangible-Asset is 10.94% as of Mar. 2026, which is 62% above its 10-year median of 6.76. GuruFocus rates TSE:9445 with a GF Score™ of 71/100 and a GF Value™ of 円454.21 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 371 Telecommunication Services companies, Forval Telecom ranks better than 76.55% 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. Forval Telecom's annualizedNet Income for the quarter that ended in Mar. 2026 was 円1,027 Mil. Forval Telecom's average total tangible assets for the quarter that ended in Mar. 2026 was 円9,385 Mil. Therefore, Forval Telecom's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 10.94%.
The historical rank and industry rank for Forval Telecom's Return-on-Tangible-Asset or its related term are showing as below:
TSE:9445'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -8.51 Med: 6.76 Max: 10.39
Current: 9.33
During the past 13 years, Forval Telecom's highest Return-on-Tangible-Asset was 10.39%. The lowest was -8.51%. And the median was 6.76%.
TSE:9445's Return-on-Tangible-Asset is ranked better than 76.55% of 371
companies
in the Telecommunication Services industry
Industry Median: 3.6
vs TSE:9445: 9.33
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.
Forval Telecom Return-on-Tangible-Asset Related Terms
Forval Telecom Return-on-Tangible-Asset Historical Data
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The historical data trend for Forval Telecom'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:9445 vs VZ, TMUS, T: Return-on-Tangible-Asset Comparison
For the Telecom Services subindustry, Forval Telecom'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.
Forval Telecom Return-on-Tangible-Asset vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forval Telecom's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Forval Telecom'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 (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 10.94% mean?
Forval Telecom (TSE:9445) has a Return-on-Tangible-Asset of 10.94% 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 Forval Telecom and its competitors. This is 62% above median its historical median of 6.76. According to the industry distribution chart, Forval Telecom ranks #87 out of 371 companies in the Telecommunication Services industry, placing it in the top 23.5%.
Is Forval Telecom's Return-on-Tangible-Asset too high?
Forval Telecom's current Return-on-Tangible-Asset of 10.94% is 62% above median its 10-year median of 6.76. The Telecommunication Services industry median Return-on-Tangible-Asset is 3.60. Forval Telecom's value of 10.94% is 203.9% above this industry median. Based on the distribution chart, Forval Telecom ranks #87 out of 371 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Forval Telecom has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forval Telecom's Return-on-Tangible-Asset compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forval Telecom ranks #87 out of 371 companies for Return-on-Tangible-Asset. This places Forval Telecom in the top 24% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.60. Forval Telecom's value of 10.94% is 203.9% above this benchmark. While the company's 10-year median is 6.76 vs. the industry median of 3.60, Forval Telecom 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 Telecommunication Services company?
The median Return-on-Tangible-Asset among Telecommunication Services companies is 3.60, based on 371 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. Forval Telecom's current Return-on-Tangible-Asset of 10.94% is 203.9% 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 Forval Telecom and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Asset is 3.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forval Telecom's current Return-on-Tangible-Asset is 10.94%, which is 62% above median its own 10-year median of 6.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forval Telecom stock overvalued right now?
Based on GuruFocus' analysis, Forval Telecom (TSE:9445) is currently considered Modestly Overvalued. The stock's GF Value™ is 円454.21, compared to a current price of 円535.00 — trading 17.8% above its estimated fair value. The current Return-on-Tangible-Asset is 10.94%, which is 62% above median its 10-year median of 6.76 and 203.9% above the Telecommunication Services industry median of 3.60. Forval Telecom's overall GF Score™ is 71/100 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 Forval Telecom (TSE:9445), the current Return-on-Tangible-Asset is 10.94% 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 Forval Telecom (TSE:9445) Overvalued in 2026?
Based on GuruFocus' analysis, Forval Telecom stock appears to be overvalued.
The current stock price of 円535.00 is trading 17.8% above its estimated GF Value™ of 円454.21.
GuruFocus considers Forval Telecom to be Modestly Overvalued.
Key valuation signals for TSE:9445:
Return-on-Tangible-Asset: 10.94% (62% above median its 10-year median of 6.76)
GF Value™: 円454.21 vs. price of 円535.00 (17.8% above fair value)
Industry Position: 203.9% above the Telecommunication Services median (#87 of 371)
No single metric tells the full story. See the TSE:9445 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forval Telecom Inc provides telecommunications communication services and management consulting services in Japan. It provides discount international and domestic telephone and cellular phone services for the business and private sectors. It is also involved in the security certification acquisition consulting business.
71GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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