Internet Initiative JapanIIJIF -3.09%94 Return-on-Tangible-Equity is 25.79% as of Mar. 2026, which is 46% above its 10-year median of 17.64. GuruFocus rates IIJIF with a GF Score™ of 94/100 and a GF Value™ of $20.14 (Fairly Valued). The stock has 6 warning signs investors should review. Among 326 Telecommunication Services companies, Internet Initiative Japan ranks better than 56.44% 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. Internet Initiative Japan's annualized net income for the quarter that ended in Mar. 2026 was $199 Mil. Internet Initiative Japan's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $774 Mil. Therefore, Internet Initiative Japan's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 25.79%.
The historical rank and industry rank for Internet Initiative Japan's Return-on-Tangible-Equity or its related term are showing as below:
IIJIF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 6.26 Med: 17.64 Max: 22.26
Current: 20.81
During the past 13 years, Internet Initiative Japan's highest Return-on-Tangible-Equity was 22.26%. The lowest was 6.26%. And the median was 17.64%.
IIJIF's Return-on-Tangible-Equity is ranked better than 56.44% of 326
companies
in the Telecommunication Services industry
Industry Median: 14.005
vs IIJIF: 20.81
Internet Initiative Japan (OTCPK:IIJIF) 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.
Internet Initiative Japan Return-on-Tangible-Equity Related Terms
Internet Initiative Japan Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Internet Initiative Japan'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.
Internet Initiative Japan Return-on-Tangible-Equity Chart
IIJIF vs TMUS, VZ, T: Return-on-Tangible-Equity Comparison
For the Telecom Services subindustry, Internet Initiative Japan'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.
Internet Initiative Japan Return-on-Tangible-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Internet Initiative Japan's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Internet Initiative Japan'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 25.79% mean?
Internet Initiative Japan (IIJIF) has a Return-on-Tangible-Equity of 25.79% 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 Internet Initiative Japan and its competitors. This is 46% above median its historical median of 17.64. Over the past decade, Internet Initiative Japan's Return-on-Tangible-Equity has ranged from 6.26 to 22.26. According to the industry distribution chart, Internet Initiative Japan ranks #142 out of 326 companies in the Telecommunication Services industry, placing it in the top 43.6%.
Is Internet Initiative Japan's Return-on-Tangible-Equity too high?
Internet Initiative Japan's current Return-on-Tangible-Equity of 25.79% is 46% above median its 10-year median of 17.64. Over the past 10 years, this metric has ranged from a low of 6.26 to a high of 22.26. The Telecommunication Services industry median Return-on-Tangible-Equity is 14.01. Internet Initiative Japan's value of 25.79% is 84.1% above this industry median. Based on the distribution chart, Internet Initiative Japan ranks #142 out of 326 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Internet Initiative Japan has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Internet Initiative Japan's Return-on-Tangible-Equity compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Internet Initiative Japan ranks #142 out of 326 companies for Return-on-Tangible-Equity. This puts Internet Initiative Japan in the upper half of its industry. The industry median Return-on-Tangible-Equity is 14.01. Internet Initiative Japan's value of 25.79% is 84.1% above this benchmark. Historically, Internet Initiative Japan's own Return-on-Tangible-Equity has ranged from 6.26 to 22.26 over the past decade. While the company's 10-year median is 17.64 vs. the industry median of 14.01, Internet Initiative Japan 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 Telecommunication Services company?
The median Return-on-Tangible-Equity among Telecommunication Services companies is 14.01, based on 326 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. Internet Initiative Japan's current Return-on-Tangible-Equity of 25.79% is 84.1% 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 Internet Initiative Japan and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Equity is 14.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Internet Initiative Japan's current Return-on-Tangible-Equity is 25.79%, which is 46% above median its own 10-year median of 17.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Internet Initiative Japan stock overvalued right now?
Based on GuruFocus' analysis, Internet Initiative Japan (IIJIF) is currently considered Fairly Valued. The stock's GF Value™ is $20.14, compared to a current price of $18.51 — trading 8.1% below its estimated fair value. The current Return-on-Tangible-Equity is 25.79%, which is 46% above median its 10-year median of 17.64 and 84.1% above the Telecommunication Services industry median of 14.01. Internet Initiative Japan's overall GF Score™ is 94/100 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 Internet Initiative Japan (IIJIF), the current Return-on-Tangible-Equity is 25.79% 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 Internet Initiative Japan (IIJIF) Overvalued in 2026?
Based on GuruFocus' analysis, Internet Initiative Japan stock appears to be undervalued.
The current stock price of $18.51 is trading 8.1% below its estimated GF Value™ of $20.14.
GuruFocus considers Internet Initiative Japan to be Fairly Valued.
Key valuation signals for IIJIF:
Return-on-Tangible-Equity: 25.79% (46% above median its 10-year median of 17.64)
GF Value™: $20.14 vs. price of $18.51 (8.1% below fair value)
Industry Position: 84.1% above the Telecommunication Services median (#142 of 326)
No single metric tells the full story. See the IIJIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Internet Initiative Japan Inc. is a provider of a variety of services including Internet access, outsourcing, and systems integration. Its Internet access services span dial-up, mobile, and broadband technologies. Its wide area network services allow secure data sharing over Internet virtual private networks, independently developed routers, and closed wide area networks. Its outsourcing services include cloud, content delivery, data center, and security services. The firm generates nearly all its revenue in Japan.
94GF Score
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