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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. Hai Kwang Enterprise's annualized net income for the quarter that ended in Dec. 2025 was NT$-339 Mil. Hai Kwang Enterprise's average shareholder tangible equity for the quarter that ended in Dec. 2025 was NT$3,845 Mil. Therefore, Hai Kwang Enterprise's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -8.82%.
The historical rank and industry rank for Hai Kwang Enterprise's Return-on-Tangible-Equity or its related term are showing as below:
TPE:2038'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -8.16 Med: 1.22 Max: 13.8
Current: -2.78
During the past 13 years, Hai Kwang Enterprise's highest Return-on-Tangible-Equity was 13.80%. The lowest was -8.16%. And the median was 1.22%.
TPE:2038's Return-on-Tangible-Equity is ranked worse than 79.35% of 615
companies
in the Steel industry
Industry Median: 3.97
vs TPE:2038: -2.78
Hai Kwang Enterprise (TPE:2038) 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.
Hai Kwang Enterprise Return-on-Tangible-Equity Related Terms
Hai Kwang Enterprise Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Hai Kwang Enterprise'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.
Hai Kwang Enterprise Return-on-Tangible-Equity Chart
TPE:2038 vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, Hai Kwang Enterprise'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.
Hai Kwang Enterprise Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, Hai Kwang Enterprise's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Hai Kwang Enterprise'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 (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 -8.82% mean?
Hai Kwang Enterprise (TPE:2038) has a Return-on-Tangible-Equity of -8.82% 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 Hai Kwang Enterprise and its competitors. According to the industry distribution chart, Hai Kwang Enterprise ranks #488 out of 615 companies in the Steel industry, placing it in the top 79.3%.
Is Hai Kwang Enterprise's Return-on-Tangible-Equity too high?
Hai Kwang Enterprise's current Return-on-Tangible-Equity is -8.82%. Based on the distribution chart, Hai Kwang Enterprise ranks #488 out of 615 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Hai Kwang Enterprise has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hai Kwang Enterprise's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, Hai Kwang Enterprise ranks #488 out of 615 companies for Return-on-Tangible-Equity. This places Hai Kwang Enterprise in the lower half of its industry. The industry median Return-on-Tangible-Equity is 3.97. 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 Steel company?
The median Return-on-Tangible-Equity among Steel companies is 3.97, based on 615 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 Hai Kwang Enterprise and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 3.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hai Kwang Enterprise's current Return-on-Tangible-Equity is -8.82%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hai Kwang Enterprise stock overvalued right now?
Based on GuruFocus' analysis, Hai Kwang Enterprise (TPE:2038) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$15.09, compared to a current price of NT$13.15 — trading 12.9% below its estimated fair value. The current Return-on-Tangible-Equity is -8.82%. Hai Kwang Enterprise's overall GF Score™ is 66/100 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 Hai Kwang Enterprise (TPE:2038), the current Return-on-Tangible-Equity is -8.82% 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 Hai Kwang Enterprise (TPE:2038) Overvalued in 2026?
Based on GuruFocus' analysis, Hai Kwang Enterprise stock appears to be undervalued.
The current stock price of NT$13.15 is trading 12.9% below its estimated GF Value™ of NT$15.09.
GuruFocus considers Hai Kwang Enterprise to be Modestly Undervalued.
Key valuation signals for TPE:2038:
Return-on-Tangible-Equity: -8.82%
GF Value™: NT$15.09 vs. price of NT$13.15 (12.9% below fair value)
No single metric tells the full story. See the TPE:2038 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hai Kwang Enterprise Corp is engaged in the manufacture, processing, sale, and trade of billets and reinforcing steel bars. The Company also engages in real estate rental and leasing. It operates through Hai Kwang Enterprise Co., Ltd and Zheng Tung (formerly E Chang), with Hai Kwang Enterprise Co., Ltd generating maximum revenue. The main operating location of the Company and its subsidiaries is Taiwan.
66GF Score
Get the complete analysis for TPE:2038
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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