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.
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. Hoymiles Power Electronics's annualized net income for the quarter that ended in Mar. 2026 was ¥-249 Mil. Hoymiles Power Electronics's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ¥5,364 Mil. Therefore, Hoymiles Power Electronics's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -4.64%.
The historical rank and industry rank for Hoymiles Power Electronics's Return-on-Tangible-Equity or its related term are showing as below:
SHSE:688032'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -11.73 Med: 8.15 Max: 35.91
Current: -3.83
During the past 9 years, Hoymiles Power Electronics's highest Return-on-Tangible-Equity was 35.91%. The lowest was -11.73%. And the median was 8.15%.
SHSE:688032's Return-on-Tangible-Equity is ranked worse than 81.36% of 2972
companies
in the Industrial Products industry
Industry Median: 6.78
vs SHSE:688032: -3.83
Hoymiles Power Electronics (SHSE:688032) 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.
Hoymiles Power Electronics Return-on-Tangible-Equity Related Terms
Hoymiles Power Electronics 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.
Hoymiles Power Electronics Return-on-Tangible-Equity Chart
SHSE:688032 vs VRT, BE: Return-on-Tangible-Equity Comparison
For the Electrical Equipment & Parts subindustry, Hoymiles Power Electronics'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.
Hoymiles Power Electronics Return-on-Tangible-Equity vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Hoymiles Power Electronics's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Hoymiles Power Electronics'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 -4.64% mean?
Hoymiles Power Electronics (SHSE:688032) has a Return-on-Tangible-Equity of -4.64% 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 Hoymiles Power Electronics and its competitors. According to the industry distribution chart, Hoymiles Power Electronics ranks #2418 out of 2972 companies in the Industrial Products industry, placing it in the top 81.4%.
Is Hoymiles Power Electronics' Return-on-Tangible-Equity too high?
Hoymiles Power Electronics' current Return-on-Tangible-Equity is -4.64%. Based on the distribution chart, Hoymiles Power Electronics ranks #2418 out of 2972 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Hoymiles Power Electronics has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hoymiles Power Electronics' Return-on-Tangible-Equity compare to VRT and BE?
According to the Industrial Products industry distribution chart, Hoymiles Power Electronics ranks #2418 out of 2972 companies for Return-on-Tangible-Equity. This places Hoymiles Power Electronics in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.78. 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 an Industrial Products company?
The median Return-on-Tangible-Equity among Industrial Products companies is 6.78, based on 2,972 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 Hoymiles Power Electronics and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Equity is 6.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hoymiles Power Electronics's current Return-on-Tangible-Equity is -4.64%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hoymiles Power Electronics stock overvalued right now?
Based on GuruFocus' analysis, Hoymiles Power Electronics (SHSE:688032) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥201.38, compared to a current price of ¥74.04 — trading 63.2% below its estimated fair value. The current Return-on-Tangible-Equity is -4.64%. Hoymiles Power Electronics' overall GF Score™ is 80/100 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 Hoymiles Power Electronics (SHSE:688032), the current Return-on-Tangible-Equity is -4.64% 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 Hoymiles Power Electronics (SHSE:688032) Overvalued in 2026?
Based on GuruFocus' analysis, Hoymiles Power Electronics stock appears to be undervalued.
The current stock price of ¥74.04 is trading 63.2% below its estimated GF Value™ of ¥201.38.
GuruFocus considers Hoymiles Power Electronics to be Significantly Undervalued.
Key valuation signals for SHSE:688032:
Return-on-Tangible-Equity: -4.64%
GF Value™: ¥201.38 vs. price of ¥74.04 (63.2% below fair value)
No single metric tells the full story. See the SHSE:688032 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hoymiles Power Electronics Inc is engaged in the research and development, manufacturing, and sales of photovoltaic inverters and other power conversion equipment and electrical complete sets of equipment and related products.
80GF Score
Get the complete analysis for SHSE:688032
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
SHSE:688032 has been successfully added to your 
