Maruichi Co (NGO:8228) Return-on-Tangible-Equity: -4.71% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

NGO:8228 Maruichi Co Ltd NGO:8228
56 GF Score
Price 円1,110.00
GF Value 円1,574.66
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is Maruichi Co Return-on-Tangible-Equity?

Maruichi Co NGO:8228 +0.09% 56 Return-on-Tangible-Equity is -4.71% as of Mar. 2026. GuruFocus rates NGO:8228 with a GF Score™ of 56/100 and a GF Value™ of 円1,574.66 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 298 Retail - Defensive companies, Maruichi Co ranks worse than 50.34% 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. Maruichi Co's annualized net income for the quarter that ended in Mar. 2026 was 円-732 Mil. Maruichi Co's average shareholder tangible equity for the quarter that ended in Mar. 2026 was 円15,525 Mil. Therefore, Maruichi Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -4.71%.

The historical rank and industry rank for Maruichi Co's Return-on-Tangible-Equity or its related term are showing as below:

NGO:8228' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 3.25   Med: 6.09   Max: 12.49
Current: 10.81

During the past 13 years, Maruichi Co's highest Return-on-Tangible-Equity was 12.49%. The lowest was 3.25%. And the median was 6.09%.

NGO:8228's Return-on-Tangible-Equity is ranked worse than
50.34% of 298 companies
in the Retail - Defensive industry
Industry Median: 10.84 vs NGO:8228: 10.81

Maruichi Co  (NGO:8228) 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.


Maruichi Co Return-on-Tangible-Equity Related Terms


Maruichi Co Return-on-Tangible-Equity Historical Data

* Premium members only.

The historical data trend for Maruichi Co'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.

Maruichi Co Return-on-Tangible-Equity Chart

Maruichi Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Return-on-Tangible-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.25 6.00 7.08 4.10 12.49

Maruichi Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Return-on-Tangible-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.45 10.57 30.59 -4.71 7.88

NGO:8228 vs SYY, USFD, PFGC: Return-on-Tangible-Equity Comparison

For the Food Distribution subindustry, Maruichi Co'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.


Maruichi Co Return-on-Tangible-Equity vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Maruichi Co's Return-on-Tangible-Equity distribution charts can be found below:

* The bar in red indicates where Maruichi Co's Return-on-Tangible-Equity falls into.


NGO:8228
56GF Score
Maruichi Co Ltd NGO:8228
Return-on-Tangible-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Maruichi Co Return-on-Tangible-Equity Calculation

Maruichi Co's annualized Return-on-Tangible-Equity for the fiscal year that ended in Mar. 2026 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets )/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=1728/( (12171+15502 )/ 2 )
=1728/13836.5
=12.49 %

Maruichi Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 is calculated as

Return-on-Tangible-Equity=Net Income/( (Total Tangible Equity+Total Tangible Equity)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=Net Income/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=-732/( (15548+15502)/ 2 )
=-732/15525
=-4.71 %

* 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 -4.71% mean?
Maruichi Co (NGO:8228) has a Return-on-Tangible-Equity of -4.71% 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 Maruichi Co and its competitors. Over the past decade, Maruichi Co's Return-on-Tangible-Equity has ranged from 3.25 to 12.49. According to the industry distribution chart, Maruichi Co ranks #150 out of 298 companies in the Retail - Defensive industry, placing it in the top 50.3%.
Is Maruichi Co's Return-on-Tangible-Equity too high?
Maruichi Co's current Return-on-Tangible-Equity is -4.71%. Over the past 10 years, this metric has ranged from a low of 3.25 to a high of 12.49. Based on the distribution chart, Maruichi Co ranks #150 out of 298 companies in the Retail - Defensive industry, which is below the industry midpoint. Overall, Maruichi Co has a GF Score™ of 56/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Maruichi Co's Return-on-Tangible-Equity compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Maruichi Co ranks #150 out of 298 companies for Return-on-Tangible-Equity. This places Maruichi Co in the lower half of its industry. The industry median Return-on-Tangible-Equity is 10.84. Historically, Maruichi Co's own Return-on-Tangible-Equity has ranged from 3.25 to 12.49 over the past decade. 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 Retail - Defensive company?
The median Return-on-Tangible-Equity among Retail - Defensive companies is 10.84, based on 298 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. 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 Maruichi Co and its competitors. For the Retail - Defensive industry, the median Return-on-Tangible-Equity is 10.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maruichi Co's current Return-on-Tangible-Equity is -4.71%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruichi Co stock overvalued right now?
Based on GuruFocus' analysis, Maruichi Co (NGO:8228) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,574.66, compared to a current price of 円1,110.00 — trading 29.5% below its estimated fair value. The current Return-on-Tangible-Equity is -4.71%. Maruichi Co's overall GF Score™ is 56/100 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 Maruichi Co (NGO:8228), the current Return-on-Tangible-Equity is -4.71% 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 Maruichi Co (NGO:8228) Overvalued in 2026?

Based on GuruFocus' analysis, Maruichi Co stock appears to be undervalued. The current stock price of 円1,110.00 is trading 29.5% below its estimated GF Value™ of 円1,574.66. GuruFocus considers Maruichi Co to be Significantly Undervalued.

Key valuation signals for NGO:8228:

  • Return-on-Tangible-Equity: -4.71%
  • GF Value™: 円1,574.66 vs. price of 円1,110.00 (29.5% below fair value)
  • GF Score™: 56/100 with 2 warning signs

No single metric tells the full story. See the NGO:8228 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Maruichi Co Business Description

Address 3-38 Nagano City Market, Nagano, JPN, 381-2281
Maruichi Co Ltd is engaged in the wholesale business of fishery products, dairy foods, and frozen foods, general dry foods, processed foods, livestock products, and processed livestock products, retail store support business, among others. The company has four reportable segments: "Fishery Business", "General Food Business", and "Livestock Business", which are segments by product and service based on business divisions, and "Marusui Nagano Kensui Group", which is a segment by operating company. The company generates the majority of its revenue from Fishery Business segment, which is engaged in seafood, processed seafood products, daily necessities, and frozen foods, and manufactures processed seafood products.
56GF Score

Get the complete analysis for NGO:8228

Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,110.00
Price
円1,574.66
GF Value