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2S Metal PCLBKK:2S +0.65%69 Return-on-Tangible-Equity is 26.74% as of Mar. 2026, which is 192% above its 10-year median of 9.15. GuruFocus rates BKK:2S with a GF Score™ of 69/100 and a GF Value™ of ฿2.99 (Fairly Valued). The stock has 4 warning signs investors should review. Among 615 Steel companies, 2S Metal PCL ranks better than 77.56% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. 2S Metal PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿564 Mil. 2S Metal PCL's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ฿2,110 Mil. Therefore, 2S Metal PCL's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 26.74%.
The historical rank and industry rank for 2S Metal PCL's Return-on-Tangible-Equity or its related term are showing as below:
BKK:2S'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -5.73 Med: 9.15 Max: 38.6
Current: 10.7
During the past 13 years, 2S Metal PCL's highest Return-on-Tangible-Equity was 38.60%. The lowest was -5.73%. And the median was 9.15%.
BKK:2S's Return-on-Tangible-Equity is ranked better than 77.56% of 615
companies
in the Steel industry
Industry Median: 3.97
vs BKK:2S: 10.70
2S Metal PCL (BKK:2S) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
2S Metal PCL Return-on-Tangible-Equity Related Terms
2S Metal PCL Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for 2S Metal PCL's Return-on-Tangible-Equity 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.
BKK:2S vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, 2S Metal PCL's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
2S Metal PCL Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, 2S Metal PCL's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where 2S Metal PCL's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 26.74% mean?
2S Metal PCL (BKK:2S) has a Return-on-Tangible-Equity of 26.74% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on 2S Metal PCL and its competitors. This is 192% above median its historical median of 9.15. According to the industry distribution chart, 2S Metal PCL ranks #138 out of 615 companies in the Steel industry, placing it in the top 22.4%.
Is 2S Metal PCL's Return-on-Tangible-Equity too high?
2S Metal PCL's current Return-on-Tangible-Equity of 26.74% is 192% above median its 10-year median of 9.15. The Steel industry median Return-on-Tangible-Equity is 3.97. 2S Metal PCL's value of 26.74% is 573.6% above this industry median. Based on the distribution chart, 2S Metal PCL ranks #138 out of 615 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, 2S Metal PCL has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does 2S Metal PCL's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, 2S Metal PCL ranks #138 out of 615 companies for Return-on-Tangible-Equity. This places 2S Metal PCL in the top 22% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 3.97. 2S Metal PCL's value of 26.74% is 573.6% above this benchmark. While the company's 10-year median is 9.15 vs. the industry median of 3.97, 2S Metal PCL 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-Equity for a Steel company?
The median Return-on-Tangible-Equity among Steel companies is 3.97, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 2S Metal PCL's current Return-on-Tangible-Equity of 26.74% is 573.6% 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on 2S Metal PCL and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 3.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. 2S Metal PCL's current Return-on-Tangible-Equity is 26.74%, which is 192% above median its own 10-year median of 9.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 2S Metal PCL stock overvalued right now?
Based on GuruFocus' analysis, 2S Metal PCL (BKK:2S) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.99, compared to a current price of ฿3.10 — trading 3.7% above its estimated fair value. The current Return-on-Tangible-Equity is 26.74%, which is 192% above median its 10-year median of 9.15 and 573.6% above the Steel industry median of 3.97. 2S Metal PCL's overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For 2S Metal PCL (BKK:2S), the current Return-on-Tangible-Equity is 26.74% 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 2S Metal PCL (BKK:2S) Overvalued in 2026?
Based on GuruFocus' analysis, 2S Metal PCL stock appears to be overvalued.
The current stock price of ฿3.10 is trading 3.7% above its estimated GF Value™ of ฿2.99.
GuruFocus considers 2S Metal PCL to be Fairly Valued.
Key valuation signals for BKK:2S:
Return-on-Tangible-Equity: 26.74% (192% above median its 10-year median of 9.15)
GF Value™: ฿2.99 vs. price of ฿3.10 (3.7% above fair value)
Industry Position: 573.6% above the Steel median (#138 of 615)
No single metric tells the full story. See the BKK:2S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
2S Metal PCL is a Thailand-based company engaged in the manufacture, distribution, and trade of steel products. It is mainly engaged in manufacturing steel pipes, steel plates, light lip channels, and steel wire mesh, and trading steel products. The company's operating segments are the trading of steel products, including raw materials, and the production and distribution of steel products. The majority of its revenue is generated from the production and distribution of steel products. Geographically, it derives maximum revenue from the local market and the rest from the Lao People's Democratic Republic.
69GF Score
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