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Taiwan MaskTPE:2338 -10.00%68 Return-on-Tangible-Equity is 12.31% as of Mar. 2026, which is 45% above its 10-year median of 8.48. GuruFocus rates TPE:2338 with a GF Score™ of 68/100 and a GF Value™ of NT$41.26 (Fairly Valued). The stock has 5 warning signs investors should review. Among 985 Semiconductors companies, Taiwan Mask ranks worse than 86.8% 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. Taiwan Mask's annualized net income for the quarter that ended in Mar. 2026 was NT$598 Mil. Taiwan Mask's average shareholder tangible equity for the quarter that ended in Mar. 2026 was NT$4,858 Mil. Therefore, Taiwan Mask's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 12.31%.
The historical rank and industry rank for Taiwan Mask's Return-on-Tangible-Equity or its related term are showing as below:
TPE:2338'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -30.44 Med: 8.48 Max: 28.92
Current: -19.86
During the past 13 years, Taiwan Mask's highest Return-on-Tangible-Equity was 28.92%. The lowest was -30.44%. And the median was 8.48%.
TPE:2338's Return-on-Tangible-Equity is ranked worse than 86.8% of 985
companies
in the Semiconductors industry
Industry Median: 5.24
vs TPE:2338: -19.86
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.
Taiwan Mask Return-on-Tangible-Equity Related Terms
Taiwan Mask Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Taiwan Mask'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.
TPE:2338 vs AMAT, LRCX, KLAC: Return-on-Tangible-Equity Comparison
For the Semiconductor Equipment & Materials subindustry, Taiwan Mask'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.
Taiwan Mask Return-on-Tangible-Equity vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Taiwan Mask's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Taiwan Mask'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 12.31% mean?
Taiwan Mask (TPE:2338) has a Return-on-Tangible-Equity of 12.31% 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 Taiwan Mask and its competitors. This is 45% above median its historical median of 8.48. According to the industry distribution chart, Taiwan Mask ranks #855 out of 985 companies in the Semiconductors industry, placing it in the top 86.8%.
Is Taiwan Mask's Return-on-Tangible-Equity too high?
Taiwan Mask's current Return-on-Tangible-Equity of 12.31% is 45% above median its 10-year median of 8.48. The Semiconductors industry median Return-on-Tangible-Equity is 5.24. Taiwan Mask's value of 12.31% is 134.9% above this industry median. Based on the distribution chart, Taiwan Mask ranks #855 out of 985 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Taiwan Mask has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Taiwan Mask's Return-on-Tangible-Equity compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Taiwan Mask ranks #855 out of 985 companies for Return-on-Tangible-Equity. This places Taiwan Mask in the lower half of its industry. The industry median Return-on-Tangible-Equity is 5.24. Taiwan Mask's value of 12.31% is 134.9% above this benchmark. While the company's 10-year median is 8.48 vs. the industry median of 5.24, Taiwan Mask 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 Semiconductors company?
The median Return-on-Tangible-Equity among Semiconductors companies is 5.24, based on 985 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. Taiwan Mask's current Return-on-Tangible-Equity of 12.31% is 134.9% 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 Taiwan Mask and its competitors. For the Semiconductors industry, the median Return-on-Tangible-Equity is 5.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Mask's current Return-on-Tangible-Equity is 12.31%, which is 45% above median its own 10-year median of 8.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Mask stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Mask (TPE:2338) is currently considered Fairly Valued. The stock's GF Value™ is NT$41.26, compared to a current price of NT$43.20 — trading 4.7% above its estimated fair value. The current Return-on-Tangible-Equity is 12.31%, which is 45% above median its 10-year median of 8.48 and 134.9% above the Semiconductors industry median of 5.24. Taiwan Mask's overall GF Score™ is 68/100 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 Taiwan Mask (TPE:2338), the current Return-on-Tangible-Equity is 12.31% 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 Taiwan Mask (TPE:2338) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Mask stock appears to be overvalued.
The current stock price of NT$43.20 is trading 4.7% above its estimated GF Value™ of NT$41.26.
GuruFocus considers Taiwan Mask to be Fairly Valued.
Key valuation signals for TPE:2338:
Return-on-Tangible-Equity: 12.31% (45% above median its 10-year median of 8.48)
GF Value™: NT$41.26 vs. price of NT$43.20 (4.7% above fair value)
Industry Position: 134.9% above the Semiconductors median (#855 of 985)
No single metric tells the full story. See the TPE:2338 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Mask Corp manufactures and markets photomasks products for semiconductor production. The company also produces and sells products such as masks and integrated circuits used in semiconductors, and has a diversified sales base. The product segment of the company comprises Photomask and the semiconductor segment. The company generates its revenue from the Photomask and semiconductor segments.
68GF Score
Get the complete analysis for TPE:2338
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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