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FCETSE:9564 -1.66%89 Return-on-Tangible-Asset is 23.09% as of Mar. 2026, which is 91% above its 10-year median of 12.07. GuruFocus rates TSE:9564 with a GF Score™ of 89/100 and a GF Value™ of 円571.21 (Fairly Valued). The stock has 1 warning sign investors should review. Among 568 Conglomerates companies, FCE ranks better than 94.01% 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. FCE's annualizedNet Income for the quarter that ended in Mar. 2026 was 円1,238 Mil. FCE's average total tangible assets for the quarter that ended in Mar. 2026 was 円5,363 Mil. Therefore, FCE's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 23.09%.
The historical rank and industry rank for FCE's Return-on-Tangible-Asset or its related term are showing as below:
TSE:9564'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 5.86 Med: 12.07 Max: 14.16
Current: 14.16
During the past 6 years, FCE's highest Return-on-Tangible-Asset was 14.16%. The lowest was 5.86%. And the median was 12.07%.
TSE:9564's Return-on-Tangible-Asset is ranked better than 94.01% of 568
companies
in the Conglomerates industry
Industry Median: 2.735
vs TSE:9564: 14.16
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.
FCE Return-on-Tangible-Asset Related Terms
FCE Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for FCE'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:9564 vs MMM, HON: Return-on-Tangible-Asset Comparison
For the Conglomerates subindustry, FCE'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.
FCE Return-on-Tangible-Asset vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, FCE's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where FCE'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 23.09% mean?
FCE (TSE:9564) has a Return-on-Tangible-Asset of 23.09% 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 FCE and its competitors. This is 91% above median its historical median of 12.07. Over the past decade, FCE's Return-on-Tangible-Asset has ranged from 5.86 to 14.16. According to the industry distribution chart, FCE ranks #34 out of 568 companies in the Conglomerates industry, placing it in the top 6%.
Is FCE's Return-on-Tangible-Asset too high?
FCE's current Return-on-Tangible-Asset of 23.09% is 91% above median its 10-year median of 12.07. Over the past 10 years, this metric has ranged from a low of 5.86 to a high of 14.16. The Conglomerates industry median Return-on-Tangible-Asset is 2.74. FCE's value of 23.09% is 744.2% above this industry median. Based on the distribution chart, FCE ranks #34 out of 568 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, FCE has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does FCE's Return-on-Tangible-Asset compare to MMM and HON?
According to the Conglomerates industry distribution chart, FCE ranks #34 out of 568 companies for Return-on-Tangible-Asset. This places FCE in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.74. FCE's value of 23.09% is 744.2% above this benchmark. Historically, FCE's own Return-on-Tangible-Asset has ranged from 5.86 to 14.16 over the past decade. While the company's 10-year median is 12.07 vs. the industry median of 2.74, FCE 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 Conglomerates company?
The median Return-on-Tangible-Asset among Conglomerates companies is 2.74, based on 568 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. FCE's current Return-on-Tangible-Asset of 23.09% is 744.2% 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 FCE and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Asset is 2.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FCE's current Return-on-Tangible-Asset is 23.09%, which is 91% above median its own 10-year median of 12.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FCE stock overvalued right now?
Based on GuruFocus' analysis, FCE (TSE:9564) is currently considered Fairly Valued. The stock's GF Value™ is 円571.21, compared to a current price of 円534.00 — trading 6.5% below its estimated fair value. The current Return-on-Tangible-Asset is 23.09%, which is 91% above median its 10-year median of 12.07 and 744.2% above the Conglomerates industry median of 2.74. FCE's overall GF Score™ is 89/100 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 FCE (TSE:9564), the current Return-on-Tangible-Asset is 23.09% 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 FCE (TSE:9564) Overvalued in 2026?
Based on GuruFocus' analysis, FCE stock appears to be undervalued.
The current stock price of 円534.00 is trading 6.5% below its estimated GF Value™ of 円571.21.
GuruFocus considers FCE to be Fairly Valued.
Key valuation signals for TSE:9564:
Return-on-Tangible-Asset: 23.09% (91% above median its 10-year median of 12.07)
GF Value™: 円571.21 vs. price of 円534.00 (6.5% below fair value)
Industry Position: 744.2% above the Conglomerates median (#34 of 568)
No single metric tells the full story. See the TSE:9564 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FCE Inc is engaged in the managing a group of companies that offer services in industries such as education, training, digital transformation, and related operations. It has business segments such as DX Promotion Business, Education and Training Business, and Publishing Business.
89GF Score
Get the complete analysis for TSE:9564
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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