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.
PBSystemsFSE:4447 12 Return-on-Tangible-Equity is 7.34% as of Mar. 2026, which is 68% below its 10-year median of 23.09. GuruFocus rates FSE:4447 with a GF Score™ of 12/100 and a GF Value™ of 円878.59. The stock has 5 warning signs investors should review. Among 2,476 Software companies, PBSystems ranks worse than 51.01% 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. PBSystems's annualized net income for the quarter that ended in Mar. 2026 was 円81 Mil. PBSystems's average shareholder tangible equity for the quarter that ended in Mar. 2026 was 円1,102 Mil. Therefore, PBSystems's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 7.34%.
The historical rank and industry rank for PBSystems's Return-on-Tangible-Equity or its related term are showing as below:
FSE:4447'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 6.72 Med: 23.09 Max: 78.07
Current: 8.28
During the past 9 years, PBSystems's highest Return-on-Tangible-Equity was 78.07%. The lowest was 6.72%. And the median was 23.09%.
FSE:4447's Return-on-Tangible-Equity is ranked worse than 51.01% of 2476
companies
in the Software industry
Industry Median: 8.82
vs FSE:4447: 8.28
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.
PBSystems Return-on-Tangible-Equity Related Terms
PBSystems Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for PBSystems'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.
FSE:4447 vs UBER, SHOP, CRM: Return-on-Tangible-Equity Comparison
For the Software - Application subindustry, PBSystems'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.
PBSystems Return-on-Tangible-Equity vs Software Industry
For the Software industry and Technology sector, PBSystems's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where PBSystems'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 two times the semi-annual (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 7.34% mean?
PBSystems (FSE:4447) has a Return-on-Tangible-Equity of 7.34% 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 PBSystems and its competitors. This is 68% below median its historical median of 23.09. Over the past decade, PBSystems' Return-on-Tangible-Equity has ranged from 6.72 to 78.07. According to the industry distribution chart, PBSystems ranks #1263 out of 2476 companies in the Software industry, placing it in the top 51%.
Is PBSystems' Return-on-Tangible-Equity too high?
PBSystems' current Return-on-Tangible-Equity of 7.34% is 68% below median its 10-year median of 23.09. Over the past 10 years, this metric has ranged from a low of 6.72 to a high of 78.07. The Software industry median Return-on-Tangible-Equity is 8.82. PBSystems' value of 7.34% is 16.8% below this industry median. Based on the distribution chart, PBSystems ranks #1263 out of 2476 companies in the Software industry, which is below the industry midpoint. Overall, PBSystems has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does PBSystems' Return-on-Tangible-Equity compare to UBER and SHOP?
According to the Software industry distribution chart, PBSystems ranks #1263 out of 2476 companies for Return-on-Tangible-Equity. This places PBSystems in the lower half of its industry. The industry median Return-on-Tangible-Equity is 8.82. PBSystems' value of 7.34% is 16.8% below this benchmark. Historically, PBSystems' own Return-on-Tangible-Equity has ranged from 6.72 to 78.07 over the past decade. While the company's 10-year median is 23.09 vs. the industry median of 8.82, PBSystems has consistently been below 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 8.82, based on 2,476 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. PBSystems's current Return-on-Tangible-Equity of 7.34% is 16.8% below 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 PBSystems and its competitors. For the Software industry, the median Return-on-Tangible-Equity is 8.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PBSystems's current Return-on-Tangible-Equity is 7.34%, which is 68% below median its own 10-year median of 23.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PBSystems stock overvalued right now?
PBSystems (FSE:4447) has a current Return-on-Tangible-Equity of 7.34%. The stock's GF Value™ is 円878.59, compared to a current price of 円519.00 — trading 40.9% below its estimated fair value. The current Return-on-Tangible-Equity is 7.34%, which is 68% below median its 10-year median of 23.09 and 16.8% below the Software industry median of 8.82. PBSystems' overall GF Score™ is 12/100 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 PBSystems (FSE:4447), the current Return-on-Tangible-Equity is 7.34% 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 PBSystems (FSE:4447) Overvalued in 2026?
Based on GuruFocus' analysis, PBSystems stock appears to be undervalued.
The current stock price of 円519.00 is trading 40.9% below its estimated GF Value™ of 円878.59.
Key valuation signals for FSE:4447:
Return-on-Tangible-Equity: 7.34% (68% below median its 10-year median of 23.09)
GF Value™: 円878.59 vs. price of 円519.00 (40.9% below fair value)
Industry Position: 16.8% below the Software median (#1263 of 2476)
No single metric tells the full story. See the FSE:4447 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PBSystems Inc is involved in the Secure Cloud Systems Business which includes cloud an enterprise's Core Systems, and Emotional Systems Business which manufactures and sells VR-theater 4D king.
12GF Score
Get the complete analysis for FSE:4447
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
FSE:4447 has been successfully added to your 
