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Hokkaido Gas CoTSE:9534 +0.38%74 Return-on-Tangible-Asset is 5.43% as of Jun. 2026, which is 72% above its 10-year median of 3.15. GuruFocus rates TSE:9534 with a GF Score™ of 74/100 and a GF Value™ of 円609.36 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 510 Utilities - Regulated companies, Hokkaido Gas Co ranks better than 70.78% 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. Hokkaido Gas Co's annualizedNet Income for the quarter that ended in Jun. 2026 was 円10,068 Mil. Hokkaido Gas Co's average total tangible assets for the quarter that ended in Jun. 2026 was 円185,355 Mil. Therefore, Hokkaido Gas Co's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 5.43%.
The historical rank and industry rank for Hokkaido Gas Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:9534'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1 Med: 3.15 Max: 6.43
Current: 5.32
During the past 13 years, Hokkaido Gas Co's highest Return-on-Tangible-Asset was 6.43%. The lowest was 1.00%. And the median was 3.15%.
TSE:9534's Return-on-Tangible-Asset is ranked better than 70.78% of 510
companies
in the Utilities - Regulated industry
Industry Median: 3.315
vs TSE:9534: 5.32
Hokkaido Gas Co (TSE:9534) 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.
Hokkaido Gas Co Return-on-Tangible-Asset Related Terms
Hokkaido Gas Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Hokkaido Gas 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:9534 vs ATO, NI: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Gas subindustry, Hokkaido Gas 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.
Hokkaido Gas Co Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hokkaido Gas Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Hokkaido Gas 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 5.43% mean?
Hokkaido Gas Co (TSE:9534) has a Return-on-Tangible-Asset of 5.43% 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 Hokkaido Gas Co and its competitors. This is 72% above median its historical median of 3.15. Over the past decade, Hokkaido Gas Co's Return-on-Tangible-Asset has ranged from 1.00 to 6.43. According to the industry distribution chart, Hokkaido Gas Co ranks #149 out of 510 companies in the Utilities - Regulated industry, placing it in the top 29.2%.
Is Hokkaido Gas Co's Return-on-Tangible-Asset too high?
Hokkaido Gas Co's current Return-on-Tangible-Asset of 5.43% is 72% above median its 10-year median of 3.15. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.43. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.32. Hokkaido Gas Co's value of 5.43% is 63.8% above this industry median. Based on the distribution chart, Hokkaido Gas Co ranks #149 out of 510 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Hokkaido Gas Co has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hokkaido Gas Co's Return-on-Tangible-Asset compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hokkaido Gas Co ranks #149 out of 510 companies for Return-on-Tangible-Asset. This puts Hokkaido Gas Co in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.32. Hokkaido Gas Co's value of 5.43% is 63.8% above this benchmark. Historically, Hokkaido Gas Co's own Return-on-Tangible-Asset has ranged from 1.00 to 6.43 over the past decade. While the company's 10-year median is 3.15 vs. the industry median of 3.32, Hokkaido Gas 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 an Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.32, based on 510 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. Hokkaido Gas Co's current Return-on-Tangible-Asset of 5.43% is 63.8% 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 Hokkaido Gas Co and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hokkaido Gas Co's current Return-on-Tangible-Asset is 5.43%, which is 72% above median its own 10-year median of 3.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hokkaido Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hokkaido Gas Co (TSE:9534) is currently considered Modestly Overvalued. The stock's GF Value™ is 円609.36, compared to a current price of 円785.00 — trading 28.8% above its estimated fair value. The current Return-on-Tangible-Asset is 5.43%, which is 72% above median its 10-year median of 3.15 and 63.8% above the Utilities - Regulated industry median of 3.32. Hokkaido Gas Co's overall GF Score™ is 74/100 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 Hokkaido Gas Co (TSE:9534), the current Return-on-Tangible-Asset is 5.43% 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 Hokkaido Gas Co (TSE:9534) Overvalued in 2026?
Based on GuruFocus' analysis, Hokkaido Gas Co stock appears to be overvalued.
The current stock price of 円785.00 is trading 28.8% above its estimated GF Value™ of 円609.36.
GuruFocus considers Hokkaido Gas Co to be Modestly Overvalued.
Key valuation signals for TSE:9534:
Return-on-Tangible-Asset: 5.43% (72% above median its 10-year median of 3.15)
GF Value™: 円609.36 vs. price of 円785.00 (28.8% above fair value)
Industry Position: 63.8% above the Utilities - Regulated median (#149 of 510)
No single metric tells the full story. See the TSE:9534 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hokkaido Gas Co Ltd is a Japan-based company operating in the utility sector. Its business activities included gas, heat supply, power supply, and sale of gas by-products. The company is also engaged in the production and sale of gas appliances and related construction work. Hokkaido serves to individual and corporate customers in areas throughout Japan including Sapporo, Otaru, Hakodate, Chitose, Ishikari, Kitahiroshima, Eniwa, Hokuto, and Kitami.
74GF Score
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