Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
PBA Holdings BhdXKLS:5041 +0.51%78 Return-on-Tangible-Asset is 7.06% as of Mar. 2026, which is 126% above its 10-year median of 3.12. GuruFocus rates XKLS:5041 with a GF Score™ of 78/100 and a GF Value™ of RM2.32 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 511 Utilities - Regulated companies, PBA Holdings Bhd ranks better than 79.65% 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. PBA Holdings Bhd's annualizedNet Income for the quarter that ended in Mar. 2026 was RM158.9 Mil. PBA Holdings Bhd's average total tangible assets for the quarter that ended in Mar. 2026 was RM2,252.2 Mil. Therefore, PBA Holdings Bhd's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 7.06%.
The historical rank and industry rank for PBA Holdings Bhd's Return-on-Tangible-Asset or its related term are showing as below:
XKLS:5041'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -8.33 Med: 3.12 Max: 8.33
Current: 6.57
During the past 13 years, PBA Holdings Bhd's highest Return-on-Tangible-Asset was 8.33%. The lowest was -8.33%. And the median was 3.12%.
XKLS:5041's Return-on-Tangible-Asset is ranked better than 79.65% of 511
companies
in the Utilities - Regulated industry
Industry Median: 3.31
vs XKLS:5041: 6.57
PBA Holdings Bhd (XKLS:5041) 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.
PBA Holdings Bhd Return-on-Tangible-Asset Related Terms
PBA Holdings Bhd Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for PBA Holdings Bhd'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.
XKLS:5041 vs AWK, WTRG, AWR: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Water subindustry, PBA Holdings Bhd'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.
PBA Holdings Bhd Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, PBA Holdings Bhd's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where PBA Holdings Bhd'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 7.06% mean?
PBA Holdings Bhd (XKLS:5041) has a Return-on-Tangible-Asset of 7.06% 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 PBA Holdings Bhd and its competitors. This is 126% above median its historical median of 3.12. According to the industry distribution chart, PBA Holdings Bhd ranks #104 out of 511 companies in the Utilities - Regulated industry, placing it in the top 20.4%.
Is PBA Holdings Bhd's Return-on-Tangible-Asset too high?
PBA Holdings Bhd's current Return-on-Tangible-Asset of 7.06% is 126% above median its 10-year median of 3.12. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.31. PBA Holdings Bhd's value of 7.06% is 113.3% above this industry median. Based on the distribution chart, PBA Holdings Bhd ranks #104 out of 511 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, PBA Holdings Bhd has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PBA Holdings Bhd's Return-on-Tangible-Asset compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, PBA Holdings Bhd ranks #104 out of 511 companies for Return-on-Tangible-Asset. This places PBA Holdings Bhd in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.31. PBA Holdings Bhd's value of 7.06% is 113.3% above this benchmark. While the company's 10-year median is 3.12 vs. the industry median of 3.31, PBA Holdings Bhd 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 3.31, based on 511 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. PBA Holdings Bhd's current Return-on-Tangible-Asset of 7.06% is 113.3% 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 PBA Holdings Bhd and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PBA Holdings Bhd's current Return-on-Tangible-Asset is 7.06%, which is 126% above median its own 10-year median of 3.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PBA Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, PBA Holdings Bhd (XKLS:5041) is currently considered Modestly Undervalued. The stock's GF Value™ is RM2.32, compared to a current price of RM1.99 — trading 14.2% below its estimated fair value. The current Return-on-Tangible-Asset is 7.06%, which is 126% above median its 10-year median of 3.12 and 113.3% above the Utilities - Regulated industry median of 3.31. PBA Holdings Bhd's overall GF Score™ is 78/100 with 2 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 PBA Holdings Bhd (XKLS:5041), the current Return-on-Tangible-Asset is 7.06% 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 PBA Holdings Bhd (XKLS:5041) Overvalued in 2026?
Based on GuruFocus' analysis, PBA Holdings Bhd stock appears to be undervalued.
The current stock price of RM1.99 is trading 14.2% below its estimated GF Value™ of RM2.32.
GuruFocus considers PBA Holdings Bhd to be Modestly Undervalued.
Key valuation signals for XKLS:5041:
Return-on-Tangible-Asset: 7.06% (126% above median its 10-year median of 3.12)
GF Value™: RM2.32 vs. price of RM1.99 (14.2% below fair value)
Industry Position: 113.3% above the Utilities - Regulated median (#104 of 511)
No single metric tells the full story. See the XKLS:5041 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PBA Holdings Bhd is an investment holding company. Its primary business is to sustain continuous good water supply in Penang. With population growth and increasing socio-economic development, It has to employ holistic water supply management strategies. It manage both water demand and supply in a water-stressed state. The group has one reportable segment, which is the abstraction of raw water, treatment of water, supply and sale of treated water to consumers in the State of Penang. The company operated solely in Penang, Malaysia. The company through its subsidiaries is engaged in the abstraction of raw water, treatment of water, and supply and sale of treated water to consumers in the State of Penang. It operates geographically in Malaysia.
78GF Score
Get the complete analysis for XKLS:5041
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKLS:5041 has been successfully added to your 
