Thai Solar Energy PCLBKK:TSE-R 41 Return-on-Tangible-Equity is 11.14% as of Mar. 2026, which is 62% below its 10-year median of 29.22. GuruFocus rates BKK:TSE-R with a GF Score™ of 41/100 and a GF Value™ of ฿0.73. The stock has 5 warning signs investors should review. Among 426 Utilities - Independent Power Producers companies, Thai Solar Energy PCL ranks worse than 61.5% 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. Thai Solar Energy PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿215 Mil. Thai Solar Energy PCL's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ฿1,932 Mil. Therefore, Thai Solar Energy PCL's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 11.14%.
The historical rank and industry rank for Thai Solar Energy PCL's Return-on-Tangible-Equity or its related term are showing as below:
BKK:TSE-R'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -147.08 Med: 29.22 Max: 117.62
Current: 1.83
During the past 13 years, Thai Solar Energy PCL's highest Return-on-Tangible-Equity was 117.62%. The lowest was -147.08%. And the median was 29.22%.
BKK:TSE-R's Return-on-Tangible-Equity is ranked worse than 61.5% of 426
companies
in the Utilities - Independent Power Producers industry
Industry Median: 4.85
vs BKK:TSE-R: 1.83
Thai Solar Energy PCL (BKK:TSE-R) 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.
Thai Solar Energy PCL Return-on-Tangible-Equity Related Terms
Thai Solar Energy PCL Return-on-Tangible-Equity Historical Data
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The historical data trend for Thai Solar Energy 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.
Thai Solar Energy PCL Return-on-Tangible-Equity Chart
Thai Solar Energy PCL Return-on-Tangible-Equity Competitor Comparison
For the Utilities - Renewable subindustry, Thai Solar Energy 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.
Thai Solar Energy PCL Return-on-Tangible-Equity vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Thai Solar Energy PCL's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Thai Solar Energy 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 11.14% mean?
Thai Solar Energy PCL (BKK:TSE-R) has a Return-on-Tangible-Equity of 11.14% 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 Thai Solar Energy PCL and its competitors. This is 62% below median its historical median of 29.22. According to the industry distribution chart, Thai Solar Energy PCL ranks #262 out of 426 companies in the Utilities - Independent Power Producers industry, placing it in the top 61.5%.
Is Thai Solar Energy PCL's Return-on-Tangible-Equity too high?
Thai Solar Energy PCL's current Return-on-Tangible-Equity of 11.14% is 62% below median its 10-year median of 29.22. The Utilities - Independent Power Producers industry median Return-on-Tangible-Equity is 4.85. Thai Solar Energy PCL's value of 11.14% is 129.7% above this industry median. Based on the distribution chart, Thai Solar Energy PCL ranks #262 out of 426 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Thai Solar Energy PCL has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Thai Solar Energy PCL's Return-on-Tangible-Equity compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Thai Solar Energy PCL ranks #262 out of 426 companies for Return-on-Tangible-Equity. This places Thai Solar Energy PCL in the lower half of its industry. The industry median Return-on-Tangible-Equity is 4.85. Thai Solar Energy PCL's value of 11.14% is 129.7% above this benchmark. While the company's 10-year median is 29.22 vs. the industry median of 4.85, Thai Solar Energy 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 an Utilities - Independent Power Producers company?
The median Return-on-Tangible-Equity among Utilities - Independent Power Producers companies is 4.85, based on 426 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. Thai Solar Energy PCL's current Return-on-Tangible-Equity of 11.14% is 129.7% 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 Thai Solar Energy PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Equity is 4.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Solar Energy PCL's current Return-on-Tangible-Equity is 11.14%, which is 62% below median its own 10-year median of 29.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Solar Energy PCL stock overvalued right now?
Thai Solar Energy PCL (BKK:TSE-R) has a current Return-on-Tangible-Equity of 11.14%. The stock's GF Value™ is ฿0.73, compared to a current price of ฿0.61 — trading 17% below its estimated fair value. The current Return-on-Tangible-Equity is 11.14%, which is 62% below median its 10-year median of 29.22 and 129.7% above the Utilities - Independent Power Producers industry median of 4.85. Thai Solar Energy PCL's overall GF Score™ is 41/100 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 Thai Solar Energy PCL (BKK:TSE-R), the current Return-on-Tangible-Equity is 11.14% 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 Thai Solar Energy PCL (BKK:TSE-R) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Solar Energy PCL stock appears to be undervalued.
The current stock price of ฿0.61 is trading 17% below its estimated GF Value™ of ฿0.73.
Key valuation signals for BKK:TSE-R:
Return-on-Tangible-Equity: 11.14% (62% below median its 10-year median of 29.22)
GF Value™: ฿0.73 vs. price of ฿0.61 (17% below fair value)
Industry Position: 129.7% above the Utilities - Independent Power Producers median (#262 of 426)
No single metric tells the full story. See the BKK:TSE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Solar Energy PCL is engaged in the generation and distribution of electricity from solar power to the government and private sector. The company has its operational footprints in Thailand and Japan. Its operating segments are Domestic and International of which, the company generates a majority of its revenue from the Domestic segment. The firm's projects are Solar PV Farms Thailand, Solar PV Farms Japan, Solar PV Rooftop Plants Thailand and Biomass Power Plants.
41GF Score
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