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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. First Steamship Co's annualized net income for the quarter that ended in Dec. 2025 was NT$-4,262 Mil. First Steamship Co's average shareholder tangible equity for the quarter that ended in Dec. 2025 was NT$6,616 Mil. Therefore, First Steamship Co's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -64.43%.
The historical rank and industry rank for First Steamship Co's Return-on-Tangible-Equity or its related term are showing as below:
TPE:2601'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -21.54 Med: -1.04 Max: 20.8
Current: -20.06
During the past 13 years, First Steamship Co's highest Return-on-Tangible-Equity was 20.80%. The lowest was -21.54%. And the median was -1.04%.
TPE:2601's Return-on-Tangible-Equity is ranked worse than 90.18% of 1059
companies
in the Retail - Cyclical industry
Industry Median: 8.45
vs TPE:2601: -20.06
First Steamship Co (TPE:2601) 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.
First Steamship Co Return-on-Tangible-Equity Related Terms
First Steamship Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for First Steamship 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.
First Steamship Co Return-on-Tangible-Equity Chart
TPE:2601 vs DDS, M: Return-on-Tangible-Equity Comparison
For the Department Stores subindustry, First Steamship 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.
First Steamship Co Return-on-Tangible-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, First Steamship Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where First Steamship 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 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 -64.43% mean?
First Steamship Co (TPE:2601) has a Return-on-Tangible-Equity of -64.43% 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 First Steamship Co and its competitors. According to the industry distribution chart, First Steamship Co ranks #955 out of 1059 companies in the Retail - Cyclical industry, placing it in the top 90.2%.
Is First Steamship Co's Return-on-Tangible-Equity too high?
First Steamship Co's current Return-on-Tangible-Equity is -64.43%. Based on the distribution chart, First Steamship Co ranks #955 out of 1059 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, First Steamship Co has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Steamship Co's Return-on-Tangible-Equity compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, First Steamship Co ranks #955 out of 1059 companies for Return-on-Tangible-Equity. This places First Steamship Co in the lower half of its industry. The industry median Return-on-Tangible-Equity is 8.45. 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 Retail - Cyclical company?
The median Return-on-Tangible-Equity among Retail - Cyclical companies is 8.45, based on 1,059 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 First Steamship Co and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Equity is 8.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Steamship Co's current Return-on-Tangible-Equity is -64.43%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Steamship Co stock overvalued right now?
Based on GuruFocus' analysis, First Steamship Co (TPE:2601) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$2.05, compared to a current price of NT$7.20 — trading 251.2% above its estimated fair value. The current Return-on-Tangible-Equity is -64.43%. First Steamship Co's overall GF Score™ is 50/100 with 10 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 First Steamship Co (TPE:2601), the current Return-on-Tangible-Equity is -64.43% 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 First Steamship Co (TPE:2601) Overvalued in 2026?
Based on GuruFocus' analysis, First Steamship Co stock appears to be overvalued.
The current stock price of NT$7.20 is trading 251.2% above its estimated GF Value™ of NT$2.05.
GuruFocus considers First Steamship Co to be Significantly Overvalued.
Key valuation signals for TPE:2601:
Return-on-Tangible-Equity: -64.43%
GF Value™: NT$2.05 vs. price of NT$7.20 (251.2% above fair value)
No single metric tells the full story. See the TPE:2601 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Steamship Co Ltd is engaged in business management consultancy, domestic and international investments, as well as development, rental and sale of residential and commercial buildings. It operates in four segments the Shipping department, the Investing department, the Department Store department, and the Rental department. The Shipping department engages in domestic and international marine transportation and related businesses. The Investing department engages in domestic and international investment business. The Department Store department engages in department store retail industry, and the Rental department engages in automobile finance leasing company businesses. The majority of revenue is derived from the Department Store department segment.
50GF Score
Get the complete analysis for TPE:2601
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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