National Petroleum CoTPE:9937 78 Return-on-Tangible-Equity is 13.38% as of Dec. 2025, which is 10% below its 10-year median of 14.94. GuruFocus rates TPE:9937 with a GF Score™ of 78/100 and a GF Value™ of NT$59.36 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,060 Retail - Cyclical companies, National Petroleum Co ranks better than 60.38% 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. National Petroleum Co's annualized net income for the quarter that ended in Dec. 2025 was NT$763 Mil. National Petroleum Co's average shareholder tangible equity for the quarter that ended in Dec. 2025 was NT$5,705 Mil. Therefore, National Petroleum Co's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 13.38%.
The historical rank and industry rank for National Petroleum Co's Return-on-Tangible-Equity or its related term are showing as below:
TPE:9937'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 12.77 Med: 14.94 Max: 15.77
Current: 12.94
During the past 13 years, National Petroleum Co's highest Return-on-Tangible-Equity was 15.77%. The lowest was 12.77%. And the median was 14.94%.
TPE:9937's Return-on-Tangible-Equity is ranked better than 60.38% of 1060
companies
in the Retail - Cyclical industry
Industry Median: 8.34
vs TPE:9937: 12.94
National Petroleum Co (TPE:9937) 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.
National Petroleum Co Return-on-Tangible-Equity Related Terms
National Petroleum Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for National Petroleum 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.
National Petroleum Co Return-on-Tangible-Equity Chart
TPE:9937 vs CASY, WSM, DKS: Return-on-Tangible-Equity Comparison
For the Specialty Retail subindustry, National Petroleum 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.
National Petroleum Co Return-on-Tangible-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, National Petroleum Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where National Petroleum 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 13.38% mean?
National Petroleum Co (TPE:9937) has a Return-on-Tangible-Equity of 13.38% 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 National Petroleum Co and its competitors. This is 10% below median its historical median of 14.94. Over the past decade, National Petroleum Co's Return-on-Tangible-Equity has ranged from 12.77 to 15.77. According to the industry distribution chart, National Petroleum Co ranks #420 out of 1060 companies in the Retail - Cyclical industry, placing it in the top 39.6%.
Is National Petroleum Co's Return-on-Tangible-Equity too high?
National Petroleum Co's current Return-on-Tangible-Equity of 13.38% is 10% below median its 10-year median of 14.94. Over the past 10 years, this metric has ranged from a low of 12.77 to a high of 15.77. The Retail - Cyclical industry median Return-on-Tangible-Equity is 8.34. National Petroleum Co's value of 13.38% is 60.4% above this industry median. Based on the distribution chart, National Petroleum Co ranks #420 out of 1060 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, National Petroleum Co has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Petroleum Co's Return-on-Tangible-Equity compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, National Petroleum Co ranks #420 out of 1060 companies for Return-on-Tangible-Equity. This puts National Petroleum Co in the upper half of its industry. The industry median Return-on-Tangible-Equity is 8.34. National Petroleum Co's value of 13.38% is 60.4% above this benchmark. Historically, National Petroleum Co's own Return-on-Tangible-Equity has ranged from 12.77 to 15.77 over the past decade. While the company's 10-year median is 14.94 vs. the industry median of 8.34, National Petroleum Co 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 Retail - Cyclical company?
The median Return-on-Tangible-Equity among Retail - Cyclical companies is 8.34, based on 1,060 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. National Petroleum Co's current Return-on-Tangible-Equity of 13.38% is 60.4% 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 National Petroleum Co and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Equity is 8.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Petroleum Co's current Return-on-Tangible-Equity is 13.38%, which is 10% below median its own 10-year median of 14.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Petroleum Co stock overvalued right now?
Based on GuruFocus' analysis, National Petroleum Co (TPE:9937) is currently considered Fairly Valued. The stock's GF Value™ is NT$59.36, compared to a current price of NT$55.40 — trading 6.7% below its estimated fair value. The current Return-on-Tangible-Equity is 13.38%, which is 10% below median its 10-year median of 14.94 and 60.4% above the Retail - Cyclical industry median of 8.34. National Petroleum Co's overall GF Score™ is 78/100 with 4 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 National Petroleum Co (TPE:9937), the current Return-on-Tangible-Equity is 13.38% 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 National Petroleum Co (TPE:9937) Overvalued in 2026?
Based on GuruFocus' analysis, National Petroleum Co stock appears to be undervalued.
The current stock price of NT$55.40 is trading 6.7% below its estimated GF Value™ of NT$59.36.
GuruFocus considers National Petroleum Co to be Fairly Valued.
Key valuation signals for TPE:9937:
Return-on-Tangible-Equity: 13.38% (10% below median its 10-year median of 14.94)
GF Value™: NT$59.36 vs. price of NT$55.40 (6.7% below fair value)
Industry Position: 60.4% above the Retail - Cyclical median (#420 of 1060)
No single metric tells the full story. See the TPE:9937 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Petroleum Co Ltd is engaged in providing and selling gasoline, diesel, and lubricant, as well as car washing services. The main revenue of the Group is generated from the sales of refined petroleum products supplied and sold through the Group's gas stations. The sales targets are mainly consumers at gas stations.
78GF Score
Get the complete analysis for TPE:9937
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