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Heiwa Paper CoTSE:9929 +0.21%71 Return-on-Tangible-Asset is 0.89% as of Mar. 2026, which is 7% above its 10-year median of 0.83. GuruFocus rates TSE:9929 with a GF Score™ of 71/100 and a GF Value™ of 円437.80 (Fairly Valued). The stock has 5 warning signs investors should review. Among 287 Forest Products companies, Heiwa Paper Co ranks worse than 57.49% 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. Heiwa Paper Co's annualizedNet Income for the quarter that ended in Mar. 2026 was 円157 Mil. Heiwa Paper Co's average total tangible assets for the quarter that ended in Mar. 2026 was 円17,593 Mil. Therefore, Heiwa Paper Co's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.89%.
The historical rank and industry rank for Heiwa Paper Co's Return-on-Tangible-Asset or its related term are showing as below:
TSE:9929'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.22 Med: 0.83 Max: 5.26
Current: 0.44
During the past 13 years, Heiwa Paper Co's highest Return-on-Tangible-Asset was 5.26%. The lowest was -0.22%. And the median was 0.83%.
TSE:9929's Return-on-Tangible-Asset is ranked worse than 57.49% of 287
companies
in the Forest Products industry
Industry Median: 0.99
vs TSE:9929: 0.44
Heiwa Paper Co (TSE:9929) 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.
Heiwa Paper Co Return-on-Tangible-Asset Related Terms
Heiwa Paper Co Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Heiwa Paper 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.
Heiwa Paper Co Return-on-Tangible-Asset Competitor Comparison
For the Paper & Paper Products subindustry, Heiwa Paper 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.
Heiwa Paper Co Return-on-Tangible-Asset vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Heiwa Paper Co's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Heiwa Paper 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 two times the semi-annual (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 0.89% mean?
Heiwa Paper Co (TSE:9929) has a Return-on-Tangible-Asset of 0.89% 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 Heiwa Paper Co and its competitors. This is near median its historical median of 0.83. According to the industry distribution chart, Heiwa Paper Co ranks #165 out of 287 companies in the Forest Products industry, placing it in the top 57.5%.
Is Heiwa Paper Co's Return-on-Tangible-Asset too high?
Heiwa Paper Co's current Return-on-Tangible-Asset of 0.89% is near median its 10-year median of 0.83. The Forest Products industry median Return-on-Tangible-Asset is 0.99. Heiwa Paper Co's value of 0.89% is 10.1% below this industry median. Based on the distribution chart, Heiwa Paper Co ranks #165 out of 287 companies in the Forest Products industry, which is below the industry midpoint. Overall, Heiwa Paper Co has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heiwa Paper Co's Return-on-Tangible-Asset compare to competitors?
According to the Forest Products industry distribution chart, Heiwa Paper Co ranks #165 out of 287 companies for Return-on-Tangible-Asset. This places Heiwa Paper Co in the lower half of its industry. The industry median Return-on-Tangible-Asset is 0.99. Heiwa Paper Co's value of 0.89% is 10.1% below this benchmark. While the company's 10-year median is 0.83 vs. the industry median of 0.99, Heiwa Paper 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 Forest Products company?
The median Return-on-Tangible-Asset among Forest Products companies is 0.99, based on 287 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. Heiwa Paper Co's current Return-on-Tangible-Asset of 0.89% is 10.1% 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 Heiwa Paper Co and its competitors. For the Forest Products industry, the median Return-on-Tangible-Asset is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heiwa Paper Co's current Return-on-Tangible-Asset is 0.89%, which is near median its own 10-year median of 0.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heiwa Paper Co stock overvalued right now?
Based on GuruFocus' analysis, Heiwa Paper Co (TSE:9929) is currently considered Fairly Valued. The stock's GF Value™ is 円437.80, compared to a current price of 円471.00 — trading 7.6% above its estimated fair value. The current Return-on-Tangible-Asset is 0.89%, which is near median its 10-year median of 0.83 and 10.1% below the Forest Products industry median of 0.99. Heiwa Paper Co's overall GF Score™ is 71/100 with 5 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 Heiwa Paper Co (TSE:9929), the current Return-on-Tangible-Asset is 0.89% 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 Heiwa Paper Co (TSE:9929) Overvalued in 2026?
Based on GuruFocus' analysis, Heiwa Paper Co stock appears to be overvalued.
The current stock price of 円471.00 is trading 7.6% above its estimated GF Value™ of 円437.80.
GuruFocus considers Heiwa Paper Co to be Fairly Valued.
Key valuation signals for TSE:9929:
Return-on-Tangible-Asset: 0.89% (near median its 10-year median of 0.83)
GF Value™: 円437.80 vs. price of 円471.00 (7.6% above fair value)
Industry Position: 10.1% below the Forest Products median (#165 of 287)
No single metric tells the full story. See the TSE:9929 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heiwa Paper Co Ltd develops, sells, exports and imports specialty papers, high-grade papers, industrial papers, and other paper materials. It also develops and commercializes new paper products. The company's product profile includes Exo Raxa, TANT, Deep Mat, Gokanshi, Cotton Life S, Satogami, Bunpel, SS-Soft, Mandala, Snow Petal, Kishu Rainbow, and others.
71GF Score
Get the complete analysis for TSE:9929
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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