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.
Major HoldingsHKSE:01389 32 Return-on-Tangible-Equity is 0.27% as of Mar. 2026. GuruFocus rates HKSE:01389 with a GF Score™ of 32/100 and a GF Value™ of HK$0.15 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 201 Beverages - Alcoholic companies, Major Holdings ranks worse than 78.61% 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. Major Holdings's annualized net income for the quarter that ended in Mar. 2026 was HK$0.29 Mil. Major Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was HK$107.69 Mil. Therefore, Major Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 0.27%.
The historical rank and industry rank for Major Holdings's Return-on-Tangible-Equity or its related term are showing as below:
HKSE:01389'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -23.73 Med: -5.27 Max: 6.59
Current: -1.71
During the past 13 years, Major Holdings's highest Return-on-Tangible-Equity was 6.59%. The lowest was -23.73%. And the median was -5.27%.
HKSE:01389's Return-on-Tangible-Equity is ranked worse than 78.61% of 201
companies
in the Beverages - Alcoholic industry
Industry Median: 8.47
vs HKSE:01389: -1.71
Major Holdings (HKSE:01389) 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.
Major Holdings Return-on-Tangible-Equity Related Terms
Major Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Major Holdings'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.
HKSE:01389 vs BF.B: Return-on-Tangible-Equity Comparison
For the Beverages - Wineries & Distilleries subindustry, Major Holdings'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.
Major Holdings Return-on-Tangible-Equity vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Major Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Major Holdings'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 0.27% mean?
Major Holdings (HKSE:01389) has a Return-on-Tangible-Equity of 0.27% 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 Major Holdings and its competitors. According to the industry distribution chart, Major Holdings ranks #158 out of 201 companies in the Beverages - Alcoholic industry, placing it in the top 78.6%.
Is Major Holdings' Return-on-Tangible-Equity too high?
Major Holdings' current Return-on-Tangible-Equity is 0.27%. The Beverages - Alcoholic industry median Return-on-Tangible-Equity is 8.47. Major Holdings' value of 0.27% is 96.8% below this industry median. Based on the distribution chart, Major Holdings ranks #158 out of 201 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Major Holdings has a GF Score™ of 32/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Major Holdings' Return-on-Tangible-Equity compare to BF.B?
According to the Beverages - Alcoholic industry distribution chart, Major Holdings ranks #158 out of 201 companies for Return-on-Tangible-Equity. This places Major Holdings in the lower half of its industry. The industry median Return-on-Tangible-Equity is 8.47. Major Holdings' value of 0.27% is 96.8% below this benchmark. 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 Beverages - Alcoholic company?
The median Return-on-Tangible-Equity among Beverages - Alcoholic companies is 8.47, based on 201 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. Major Holdings's current Return-on-Tangible-Equity of 0.27% is 96.8% 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 Major Holdings and its competitors. For the Beverages - Alcoholic industry, the median Return-on-Tangible-Equity is 8.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Major Holdings's current Return-on-Tangible-Equity is 0.27%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Major Holdings stock overvalued right now?
Based on GuruFocus' analysis, Major Holdings (HKSE:01389) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.15, compared to a current price of HK$0.48 — trading 220% above its estimated fair value. The current Return-on-Tangible-Equity is 0.27% and 96.8% below the Beverages - Alcoholic industry median of 8.47. Major Holdings' overall GF Score™ is 32/100 with 2 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 Major Holdings (HKSE:01389), the current Return-on-Tangible-Equity is 0.27% 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 Major Holdings (HKSE:01389) Overvalued in 2026?
Based on GuruFocus' analysis, Major Holdings stock appears to be overvalued.
The current stock price of HK$0.48 is trading 220% above its estimated GF Value™ of HK$0.15.
GuruFocus considers Major Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01389:
Return-on-Tangible-Equity: 0.27%
GF Value™: HK$0.15 vs. price of HK$0.48 (220% above fair value)
Industry Position: 96.8% below the Beverages - Alcoholic median (#158 of 201)
No single metric tells the full story. See the HKSE:01389 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Major Holdings Ltd is an investment holding company. The company is principally engaged in the distribution of wine and spirit products and wine accessory products in Hong Kong. The products of the company include Red wine, White wine, Sparkling wine, Spirits, Sake, Wine accessory products, and other products. The group offers products through its retail showrooms, a network of distributors, retail organizations, five-star hotels, and private clubs. The majority of the revenue of the company is derived from Hong Kong.
32GF Score
Get the complete analysis for HKSE:01389
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
HKSE:01389 has been successfully added to your 
