Happy Square Outsourcing ServicesNSE:WHITEFORCE -4.96%18 Return-on-Tangible-Equity is 23.96% as of Mar. 2026, which is 70% below its 10-year median of 78.85. GuruFocus rates NSE:WHITEFORCE with a GF Score™ of 18/100. The stock has 5 warning signs investors should review. Among 1,009 Business Services companies, Happy Square Outsourcing Services ranks better than 72.94% on this metric.
The historical rank and industry rank for Happy Square Outsourcing Services's Return-on-Tangible-Equity or its related term are showing as below:
NSE:WHITEFORCE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 23.96 Med: 78.85 Max: 113.62
Current: 23.96
During the past 4 years, Happy Square Outsourcing Services's highest Return-on-Tangible-Equity was 113.62%. The lowest was 23.96%. And the median was 78.85%.
NSE:WHITEFORCE's Return-on-Tangible-Equity is ranked better than 72.94% of 1009
companies
in the Business Services industry
Industry Median: 10.56
vs NSE:WHITEFORCE: 23.96
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.
Happy Square Outsourcing Services Return-on-Tangible-Equity Related Terms
Happy Square Outsourcing Services Return-on-Tangible-Equity Historical Data
* 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.
Happy Square Outsourcing Services Semi-Annual Data
Mar23
Mar24
Mar25
Mar26
Return-on-Tangible-Equity
83.54
113.62
74.16
23.96
NSE:WHITEFORCE vs KFY, RHI, TNET: Return-on-Tangible-Equity Comparison
For the Staffing & Employment Services subindustry, Happy Square Outsourcing Services'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.
Happy Square Outsourcing Services Return-on-Tangible-Equity vs Business Services Industry
For the Business Services industry and Industrials sector, Happy Square Outsourcing Services's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Happy Square Outsourcing Services'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 one times the 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 23.96% mean?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a Return-on-Tangible-Equity of 23.96% 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 Happy Square Outsourcing Services and its competitors. This is 70% below median its historical median of 78.85. Over the past decade, Happy Square Outsourcing Services' Return-on-Tangible-Equity has ranged from 23.96 to 113.62. According to the industry distribution chart, Happy Square Outsourcing Services ranks #273 out of 1009 companies in the Business Services industry, placing it in the top 27.1%.
Is Happy Square Outsourcing Services' Return-on-Tangible-Equity too high?
Happy Square Outsourcing Services' current Return-on-Tangible-Equity of 23.96% is 70% below median its 10-year median of 78.85. Over the past 10 years, this metric has ranged from a low of 23.96 to a high of 113.62. The Business Services industry median Return-on-Tangible-Equity is 10.56. Happy Square Outsourcing Services' value of 23.96% is 126.9% above this industry median. Based on the distribution chart, Happy Square Outsourcing Services ranks #273 out of 1009 companies in the Business Services industry, which is above the industry midpoint. Overall, Happy Square Outsourcing Services has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Happy Square Outsourcing Services' Return-on-Tangible-Equity compare to KFY and RHI?
According to the Business Services industry distribution chart, Happy Square Outsourcing Services ranks #273 out of 1009 companies for Return-on-Tangible-Equity. This puts Happy Square Outsourcing Services in the upper half of its industry. The industry median Return-on-Tangible-Equity is 10.56. Happy Square Outsourcing Services' value of 23.96% is 126.9% above this benchmark. Historically, Happy Square Outsourcing Services' own Return-on-Tangible-Equity has ranged from 23.96 to 113.62 over the past decade. While the company's 10-year median is 78.85 vs. the industry median of 10.56, Happy Square Outsourcing Services 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 Business Services company?
The median Return-on-Tangible-Equity among Business Services companies is 10.56, based on 1,009 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. Happy Square Outsourcing Services's current Return-on-Tangible-Equity of 23.96% is 126.9% 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 Happy Square Outsourcing Services and its competitors. For the Business Services industry, the median Return-on-Tangible-Equity is 10.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Square Outsourcing Services's current Return-on-Tangible-Equity is 23.96%, which is 70% below median its own 10-year median of 78.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Square Outsourcing Services stock overvalued right now?
Happy Square Outsourcing Services (NSE:WHITEFORCE) has a current Return-on-Tangible-Equity of 23.96%. The current Return-on-Tangible-Equity is 23.96%, which is 70% below median its 10-year median of 78.85 and 126.9% above the Business Services industry median of 10.56. Happy Square Outsourcing Services' overall GF Score™ is 18/100 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 Happy Square Outsourcing Services (NSE:WHITEFORCE), the current Return-on-Tangible-Equity is 23.96% 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.
Happy Square Outsourcing Services Business Description
Happy Square Outsourcing Services Ltd is a technology-based consulting firm, involved in tech-based human resource outsourcing business, which focuses on end-to-end solutions. It offers a wide array of services such as Recruitment, Payroll, Onboarding, and flexible staffing. Its comprehensive network, structured processes, professionalism, and work ethics ensure that the company remains at the top on the domestic scale. The company satisfies firms' staffing and recruitment needs in India through its specialized, rich knowledge.
18GF Score
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