Netbay PCLBKK:NETBAY -1.02%78 Return-on-Tangible-Equity is 28.71% as of Mar. 2026, which is 19% below its 10-year median of 35.44. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.54 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,474 Software companies, Netbay PCL ranks better than 82.5% 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. Netbay PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿134.6 Mil. Netbay PCL's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ฿469.0 Mil. Therefore, Netbay PCL's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 28.71%.
The historical rank and industry rank for Netbay PCL's Return-on-Tangible-Equity or its related term are showing as below:
BKK:NETBAY'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 30.55 Med: 35.44 Max: 54.22
Current: 48.21
During the past 11 years, Netbay PCL's highest Return-on-Tangible-Equity was 54.22%. The lowest was 30.55%. And the median was 35.44%.
BKK:NETBAY's Return-on-Tangible-Equity is ranked better than 82.5% of 2474
companies
in the Software industry
Industry Median: 8.785
vs BKK:NETBAY: 48.21
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.
Netbay PCL Return-on-Tangible-Equity Related Terms
Netbay PCL Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Netbay 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:NETBAY vs CRM, SHOP, UBER: Return-on-Tangible-Equity Comparison
For the Software - Application subindustry, Netbay 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.
Netbay PCL Return-on-Tangible-Equity vs Software Industry
For the Software industry and Technology sector, Netbay PCL's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Netbay 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 28.71% mean?
Netbay PCL (BKK:NETBAY) has a Return-on-Tangible-Equity of 28.71% 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 Netbay PCL and its competitors. This is 19% below median its historical median of 35.44. Over the past decade, Netbay PCL's Return-on-Tangible-Equity has ranged from 30.55 to 54.22. According to the industry distribution chart, Netbay PCL ranks #433 out of 2474 companies in the Software industry, placing it in the top 17.5%.
Is Netbay PCL's Return-on-Tangible-Equity too high?
Netbay PCL's current Return-on-Tangible-Equity of 28.71% is 19% below median its 10-year median of 35.44. Over the past 10 years, this metric has ranged from a low of 30.55 to a high of 54.22. The Software industry median Return-on-Tangible-Equity is 8.79. Netbay PCL's value of 28.71% is 226.8% above this industry median. Based on the distribution chart, Netbay PCL ranks #433 out of 2474 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Return-on-Tangible-Equity compare to CRM and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #433 out of 2474 companies for Return-on-Tangible-Equity. This places Netbay PCL in the top 18% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.79. Netbay PCL's value of 28.71% is 226.8% above this benchmark. Historically, Netbay PCL's own Return-on-Tangible-Equity has ranged from 30.55 to 54.22 over the past decade. While the company's 10-year median is 35.44 vs. the industry median of 8.79, Netbay 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 Software company?
The median Return-on-Tangible-Equity among Software companies is 8.79, based on 2,474 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. Netbay PCL's current Return-on-Tangible-Equity of 28.71% is 226.8% 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 Netbay PCL and its competitors. For the Software industry, the median Return-on-Tangible-Equity is 8.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Return-on-Tangible-Equity is 28.71%, which is 19% below median its own 10-year median of 35.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.54, compared to a current price of ฿9.75 — trading 54.7% below its estimated fair value. The current Return-on-Tangible-Equity is 28.71%, which is 19% below median its 10-year median of 35.44 and 226.8% above the Software industry median of 8.79. Netbay PCL's overall GF Score™ is 78/100 with 3 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 Netbay PCL (BKK:NETBAY), the current Return-on-Tangible-Equity is 28.71% 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?
Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued.
The current stock price of ฿9.75 is trading 54.7% below its estimated GF Value™ of ฿21.54.
GuruFocus considers Netbay PCL to be Significantly Undervalued.
Key valuation signals for BKK:NETBAY:
Return-on-Tangible-Equity: 28.71% (19% below median its 10-year median of 35.44)
GF Value™: ฿21.54 vs. price of ฿9.75 (54.7% below fair value)
Industry Position: 226.8% above the Software median (#433 of 2474)
No single metric tells the full story. See the BKK:NETBAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF Score
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