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.
Bioray Biotech CoROCO:7561 85 Return-on-Tangible-Equity is 5.84% as of Dec. 2025, which is 2333% above its 10-year median of 0.24. GuruFocus rates ROCO:7561 with a GF Score™ of 85/100 and a GF Value™ of NT$29.53 (Significantly Undervalued). Among 899 Drug Manufacturers companies, Bioray Biotech Co ranks worse than 51.39% 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. Bioray Biotech Co's annualized net income for the quarter that ended in Dec. 2025 was NT$26.0 Mil. Bioray Biotech Co's average shareholder tangible equity for the quarter that ended in Dec. 2025 was NT$446.0 Mil. Therefore, Bioray Biotech Co's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 5.84%.
The historical rank and industry rank for Bioray Biotech Co's Return-on-Tangible-Equity or its related term are showing as below:
ROCO:7561'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -2.62 Med: 0.24 Max: 7.39
Current: 7.37
During the past 9 years, Bioray Biotech Co's highest Return-on-Tangible-Equity was 7.39%. The lowest was -2.62%. And the median was 0.24%.
ROCO:7561's Return-on-Tangible-Equity is ranked worse than 51.39% of 899
companies
in the Drug Manufacturers industry
Industry Median: 7.95
vs ROCO:7561: 7.37
Bioray Biotech Co (ROCO:7561) 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.
Bioray Biotech Co Return-on-Tangible-Equity Related Terms
Bioray Biotech Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Bioray Biotech 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.
ROCO:7561 vs ZTS, UTHR: Return-on-Tangible-Equity Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Bioray Biotech 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.
Bioray Biotech Co Return-on-Tangible-Equity vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Bioray Biotech Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Bioray Biotech Co'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 (Dec. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 5.84% mean?
Bioray Biotech Co (ROCO:7561) has a Return-on-Tangible-Equity of 5.84% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Bioray Biotech Co and its competitors. This is 2333% above median its historical median of 0.24. According to the industry distribution chart, Bioray Biotech Co ranks #462 out of 899 companies in the Drug Manufacturers industry, placing it in the top 51.4%.
Is Bioray Biotech Co's Return-on-Tangible-Equity too high?
Bioray Biotech Co's current Return-on-Tangible-Equity of 5.84% is 2333% above median its 10-year median of 0.24. The Drug Manufacturers industry median Return-on-Tangible-Equity is 7.95. Bioray Biotech Co's value of 5.84% is 26.5% below this industry median. Based on the distribution chart, Bioray Biotech Co ranks #462 out of 899 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Bioray Biotech Co has a GF Score™ of 85/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bioray Biotech Co's Return-on-Tangible-Equity compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Bioray Biotech Co ranks #462 out of 899 companies for Return-on-Tangible-Equity. This places Bioray Biotech Co in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.95. Bioray Biotech Co's value of 5.84% is 26.5% below this benchmark. While the company's 10-year median is 0.24 vs. the industry median of 7.95, Bioray Biotech Co 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 Drug Manufacturers company?
The median Return-on-Tangible-Equity among Drug Manufacturers companies is 7.95, based on 899 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. Bioray Biotech Co's current Return-on-Tangible-Equity of 5.84% is 26.5% 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 Bioray Biotech Co and its competitors. For the Drug Manufacturers industry, the median Return-on-Tangible-Equity is 7.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bioray Biotech Co's current Return-on-Tangible-Equity is 5.84%, which is 2333% above median its own 10-year median of 0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bioray Biotech Co stock overvalued right now?
Based on GuruFocus' analysis, Bioray Biotech Co (ROCO:7561) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$29.53, compared to a current price of NT$20.45 — trading 30.7% below its estimated fair value. The current Return-on-Tangible-Equity is 5.84%, which is 2333% above median its 10-year median of 0.24 and 26.5% below the Drug Manufacturers industry median of 7.95. Bioray Biotech Co's overall GF Score™ is 85/100. 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 Bioray Biotech Co (ROCO:7561), the current Return-on-Tangible-Equity is 5.84% as of Dec. 2025. 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 Bioray Biotech Co (ROCO:7561) Overvalued in 2026?
Based on GuruFocus' analysis, Bioray Biotech Co stock appears to be undervalued.
The current stock price of NT$20.45 is trading 30.7% below its estimated GF Value™ of NT$29.53.
GuruFocus considers Bioray Biotech Co to be Significantly Undervalued.
Key valuation signals for ROCO:7561:
Return-on-Tangible-Equity: 5.84% (2333% above median its 10-year median of 0.24)
GF Value™: NT$29.53 vs. price of NT$20.45 (30.7% below fair value)
Industry Position: 26.5% below the Drug Manufacturers median (#462 of 899)
No single metric tells the full story. See the ROCO:7561 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bioray Biotech Co Ltd is engaged in the development and manufacturing of biological agents, including functional probiotics, medicinal fungi, and immune cell preparations.
85GF Score
Get the complete analysis for ROCO:7561
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
ROCO:7561 has been successfully added to your 
