M.C.S. Steel PCLBKK:MCS 68 Return-on-Tangible-Equity is 9.58% as of Mar. 2026, which is 53% below its 10-year median of 20.33. GuruFocus rates BKK:MCS with a GF Score™ of 68/100 and a GF Value™ of ฿6.52 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 615 Steel companies, M.C.S. Steel PCL ranks better than 92.85% 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. M.C.S. Steel PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿390 Mil. M.C.S. Steel PCL's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ฿4,068 Mil. Therefore, M.C.S. Steel PCL's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 9.58%.
The historical rank and industry rank for M.C.S. Steel PCL's Return-on-Tangible-Equity or its related term are showing as below:
BKK:MCS'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.93 Med: 20.33 Max: 47.37
Current: 20.84
During the past 13 years, M.C.S. Steel PCL's highest Return-on-Tangible-Equity was 47.37%. The lowest was 2.93%. And the median was 20.33%.
BKK:MCS's Return-on-Tangible-Equity is ranked better than 92.85% of 615
companies
in the Steel industry
Industry Median: 3.93
vs BKK:MCS: 20.84
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.
M.C.S. Steel PCL Return-on-Tangible-Equity Related Terms
M.C.S. Steel PCL Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for M.C.S. Steel 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:MCS vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, M.C.S. Steel 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.
M.C.S. Steel PCL Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, M.C.S. Steel PCL's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where M.C.S. Steel 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 9.58% mean?
M.C.S. Steel PCL (BKK:MCS) has a Return-on-Tangible-Equity of 9.58% 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 M.C.S. Steel PCL and its competitors. This is 53% below median its historical median of 20.33. Over the past decade, M.C.S. Steel PCL's Return-on-Tangible-Equity has ranged from 2.93 to 47.37. According to the industry distribution chart, M.C.S. Steel PCL ranks #44 out of 615 companies in the Steel industry, placing it in the top 7.2%.
Is M.C.S. Steel PCL's Return-on-Tangible-Equity too high?
M.C.S. Steel PCL's current Return-on-Tangible-Equity of 9.58% is 53% below median its 10-year median of 20.33. Over the past 10 years, this metric has ranged from a low of 2.93 to a high of 47.37. The Steel industry median Return-on-Tangible-Equity is 3.93. M.C.S. Steel PCL's value of 9.58% is 143.8% above this industry median. Based on the distribution chart, M.C.S. Steel PCL ranks #44 out of 615 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, M.C.S. Steel PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does M.C.S. Steel PCL's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, M.C.S. Steel PCL ranks #44 out of 615 companies for Return-on-Tangible-Equity. This places M.C.S. Steel PCL in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 3.93. M.C.S. Steel PCL's value of 9.58% is 143.8% above this benchmark. Historically, M.C.S. Steel PCL's own Return-on-Tangible-Equity has ranged from 2.93 to 47.37 over the past decade. While the company's 10-year median is 20.33 vs. the industry median of 3.93, M.C.S. Steel 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 3.93, 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. M.C.S. Steel PCL's current Return-on-Tangible-Equity of 9.58% is 143.8% 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-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 M.C.S. Steel PCL and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 3.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. M.C.S. Steel PCL's current Return-on-Tangible-Equity is 9.58%, which is 53% below median its own 10-year median of 20.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is M.C.S. Steel PCL stock overvalued right now?
Based on GuruFocus' analysis, M.C.S. Steel PCL (BKK:MCS) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.52, compared to a current price of ฿7.65 — trading 17.3% above its estimated fair value. The current Return-on-Tangible-Equity is 9.58%, which is 53% below median its 10-year median of 20.33 and 143.8% above the Steel industry median of 3.93. M.C.S. Steel PCL's overall GF Score™ is 68/100 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For M.C.S. Steel PCL (BKK:MCS), the current Return-on-Tangible-Equity is 9.58% 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 M.C.S. Steel PCL (BKK:MCS) Overvalued in 2026?
Based on GuruFocus' analysis, M.C.S. Steel PCL stock appears to be overvalued.
The current stock price of ฿7.65 is trading 17.3% above its estimated GF Value™ of ฿6.52.
GuruFocus considers M.C.S. Steel PCL to be Modestly Overvalued.
Key valuation signals for BKK:MCS:
Return-on-Tangible-Equity: 9.58% (53% below median its 10-year median of 20.33)
GF Value™: ฿6.52 vs. price of ฿7.65 (17.3% above fair value)
Industry Position: 143.8% above the Steel median (#44 of 615)
No single metric tells the full story. See the BKK:MCS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
M.C.S. Steel PCL is engaged in the production and distribution of structural steel products for building construction and residential development projects for sale. It provides and exports steel structure works for various projects. The company's services include engineering design, parts, and quality control. The company's product and services portfolio includes Fabrication and sale of structural steel of which substantial income is earned, Fabrication including installation of structural steel, and Rendering of services. The business operates in three geographical segments: Thailand, Japan, and China. Key revenue is earned from domestic sales.
68GF Score
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