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.
Forum EngineeringFRA:4I5 76 Return-on-Tangible-Equity is 29.15% as of Sep. 2025, which is 54% above its 10-year median of 18.92. GuruFocus rates FRA:4I5 with a GF Score™ of 76/100 and a GF Value™ of €5.54. The stock has 6 warning signs investors should review. Among 1,009 Business Services companies, Forum Engineering ranks better than 68.88% 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. Forum Engineering's annualized net income for the quarter that ended in Sep. 2025 was €19.7 Mil. Forum Engineering's average shareholder tangible equity for the quarter that ended in Sep. 2025 was €67.4 Mil. Therefore, Forum Engineering's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2025 was 29.15%.
The historical rank and industry rank for Forum Engineering's Return-on-Tangible-Equity or its related term are showing as below:
FRA:4I5'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 10.99 Med: 18.92 Max: 46.22
Current: 20.22
During the past 8 years, Forum Engineering's highest Return-on-Tangible-Equity was 46.22%. The lowest was 10.99%. And the median was 18.92%.
FRA:4I5's Return-on-Tangible-Equity is ranked better than 68.88% of 1009
companies
in the Business Services industry
Industry Median: 10.71
vs FRA:4I5: 20.22
Forum Engineering (FRA:4I5) 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.
Forum Engineering Return-on-Tangible-Equity Related Terms
Forum Engineering Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Forum Engineering'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.
FRA:4I5 vs KFY, RHI, TNET: Return-on-Tangible-Equity Comparison
For the Staffing & Employment Services subindustry, Forum Engineering'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.
Forum Engineering Return-on-Tangible-Equity vs Business Services Industry
For the Business Services industry and Industrials sector, Forum Engineering's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Forum Engineering'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 (Sep. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 29.15% mean?
Forum Engineering (FRA:4I5) has a Return-on-Tangible-Equity of 29.15% as of Sep. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Forum Engineering and its competitors. This is 54% above median its historical median of 18.92. Over the past decade, Forum Engineering's Return-on-Tangible-Equity has ranged from 10.99 to 46.22. According to the industry distribution chart, Forum Engineering ranks #314 out of 1009 companies in the Business Services industry, placing it in the top 31.1%.
Is Forum Engineering's Return-on-Tangible-Equity too high?
Forum Engineering's current Return-on-Tangible-Equity of 29.15% is 54% above median its 10-year median of 18.92. Over the past 10 years, this metric has ranged from a low of 10.99 to a high of 46.22. The Business Services industry median Return-on-Tangible-Equity is 10.71. Forum Engineering's value of 29.15% is 172.2% above this industry median. Based on the distribution chart, Forum Engineering ranks #314 out of 1009 companies in the Business Services industry, which is above the industry midpoint. Overall, Forum Engineering has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Forum Engineering's Return-on-Tangible-Equity compare to KFY and RHI?
According to the Business Services industry distribution chart, Forum Engineering ranks #314 out of 1009 companies for Return-on-Tangible-Equity. This puts Forum Engineering in the upper half of its industry. The industry median Return-on-Tangible-Equity is 10.71. Forum Engineering's value of 29.15% is 172.2% above this benchmark. Historically, Forum Engineering's own Return-on-Tangible-Equity has ranged from 10.99 to 46.22 over the past decade. While the company's 10-year median is 18.92 vs. the industry median of 10.71, Forum Engineering 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 Business Services company?
The median Return-on-Tangible-Equity among Business Services companies is 10.71, based on 1,009 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. Forum Engineering's current Return-on-Tangible-Equity of 29.15% is 172.2% 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 Forum Engineering and its competitors. For the Business Services industry, the median Return-on-Tangible-Equity is 10.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forum Engineering's current Return-on-Tangible-Equity is 29.15%, which is 54% above median its own 10-year median of 18.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forum Engineering stock overvalued right now?
Forum Engineering (FRA:4I5) has a current Return-on-Tangible-Equity of 29.15%. The stock's GF Value™ is €5.54, compared to a current price of €9.15 — trading 65.2% above its estimated fair value. The current Return-on-Tangible-Equity is 29.15%, which is 54% above median its 10-year median of 18.92 and 172.2% above the Business Services industry median of 10.71. Forum Engineering's overall GF Score™ is 76/100 with 6 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 Forum Engineering (FRA:4I5), the current Return-on-Tangible-Equity is 29.15% as of Sep. 2025. 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 Forum Engineering (FRA:4I5) Overvalued in 2026?
Based on GuruFocus' analysis, Forum Engineering stock appears to be overvalued.
The current stock price of €9.15 is trading 65.2% above its estimated GF Value™ of €5.54.
Key valuation signals for FRA:4I5:
Return-on-Tangible-Equity: 29.15% (54% above median its 10-year median of 18.92)
GF Value™: €5.54 vs. price of €9.15 (65.2% above fair value)
Industry Position: 172.2% above the Business Services median (#314 of 1009)
No single metric tells the full story. See the FRA:4I5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forum Engineering Inc is a provider of human resources. The company's business includes worker dispatch business and paid job placement services. Its services include Cognavi dispatch, Cognavi career change, Cognavi graduate, Cognavi talent management, and Cognavi college.
76GF Score
Get the complete analysis for FRA:4I5
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:4I5 has been successfully added to your 
