Tokyo Electron DeviceFRA:8VR +0.24%66 Return-on-Tangible-Equity is 22.73% as of Mar. 2026, which is 61% above its 10-year median of 14.12. GuruFocus rates FRA:8VR with a GF Score™ of 66/100 and a GF Value™ of €16.75 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 2,376 Hardware companies, Tokyo Electron Device ranks better than 81.61% 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. Tokyo Electron Device's annualized net income for the quarter that ended in Mar. 2026 was €61 Mil. Tokyo Electron Device's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €270 Mil. Therefore, Tokyo Electron Device's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 22.73%.
The historical rank and industry rank for Tokyo Electron Device's Return-on-Tangible-Equity or its related term are showing as below:
FRA:8VR'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 4.43 Med: 14.12 Max: 25.66
Current: 16.66
During the past 13 years, Tokyo Electron Device's highest Return-on-Tangible-Equity was 25.66%. The lowest was 4.43%. And the median was 14.12%.
FRA:8VR's Return-on-Tangible-Equity is ranked better than 81.61% of 2376
companies
in the Hardware industry
Industry Median: 5.265
vs FRA:8VR: 16.66
Tokyo Electron Device (FRA:8VR) 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.
Tokyo Electron Device Return-on-Tangible-Equity Related Terms
Tokyo Electron Device Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Tokyo Electron Device'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.
Tokyo Electron Device Return-on-Tangible-Equity Chart
FRA:8VR vs APH, GLW: Return-on-Tangible-Equity Comparison
For the Electronic Components subindustry, Tokyo Electron Device'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.
Tokyo Electron Device Return-on-Tangible-Equity vs Hardware Industry
For the Hardware industry and Technology sector, Tokyo Electron Device's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Tokyo Electron Device'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 22.73% mean?
Tokyo Electron Device (FRA:8VR) has a Return-on-Tangible-Equity of 22.73% 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 Tokyo Electron Device and its competitors. This is 61% above median its historical median of 14.12. Over the past decade, Tokyo Electron Device's Return-on-Tangible-Equity has ranged from 4.43 to 25.66. According to the industry distribution chart, Tokyo Electron Device ranks #437 out of 2376 companies in the Hardware industry, placing it in the top 18.4%.
Is Tokyo Electron Device's Return-on-Tangible-Equity too high?
Tokyo Electron Device's current Return-on-Tangible-Equity of 22.73% is 61% above median its 10-year median of 14.12. Over the past 10 years, this metric has ranged from a low of 4.43 to a high of 25.66. The Hardware industry median Return-on-Tangible-Equity is 5.27. Tokyo Electron Device's value of 22.73% is 331.7% above this industry median. Based on the distribution chart, Tokyo Electron Device ranks #437 out of 2376 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Tokyo Electron Device has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Electron Device's Return-on-Tangible-Equity compare to APH and GLW?
According to the Hardware industry distribution chart, Tokyo Electron Device ranks #437 out of 2376 companies for Return-on-Tangible-Equity. This places Tokyo Electron Device in the top 18% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 5.27. Tokyo Electron Device's value of 22.73% is 331.7% above this benchmark. Historically, Tokyo Electron Device's own Return-on-Tangible-Equity has ranged from 4.43 to 25.66 over the past decade. While the company's 10-year median is 14.12 vs. the industry median of 5.27, Tokyo Electron Device 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 Hardware company?
The median Return-on-Tangible-Equity among Hardware companies is 5.27, based on 2,376 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. Tokyo Electron Device's current Return-on-Tangible-Equity of 22.73% is 331.7% 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 Tokyo Electron Device and its competitors. For the Hardware industry, the median Return-on-Tangible-Equity is 5.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Electron Device's current Return-on-Tangible-Equity is 22.73%, which is 61% above median its own 10-year median of 14.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Electron Device stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Electron Device (FRA:8VR) is currently considered Modestly Overvalued. The stock's GF Value™ is €16.75, compared to a current price of €20.64 — trading 23.2% above its estimated fair value. The current Return-on-Tangible-Equity is 22.73%, which is 61% above median its 10-year median of 14.12 and 331.7% above the Hardware industry median of 5.27. Tokyo Electron Device's overall GF Score™ is 66/100 with 9 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 Tokyo Electron Device (FRA:8VR), the current Return-on-Tangible-Equity is 22.73% 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 Tokyo Electron Device (FRA:8VR) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Electron Device stock appears to be overvalued.
The current stock price of €20.64 is trading 23.2% above its estimated GF Value™ of €16.75.
GuruFocus considers Tokyo Electron Device to be Modestly Overvalued.
Key valuation signals for FRA:8VR:
Return-on-Tangible-Equity: 22.73% (61% above median its 10-year median of 14.12)
GF Value™: €16.75 vs. price of €20.64 (23.2% above fair value)
Industry Position: 331.7% above the Hardware median (#437 of 2376)
No single metric tells the full story. See the FRA:8VR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Electron Device Ltd is engaged in the sales of semiconductor products, board computer products, software and other electronic components. It is also involved in the business of network and security solutions, storage solutions, and software solutions.
66GF Score
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