Taiwan PaihoTPE:9938 79 Return-on-Tangible-Equity is 6.82% as of Dec. 2025, which is 59% below its 10-year median of 16.50. GuruFocus rates TPE:9938 with a GF Score™ of 79/100 and a GF Value™ of NT$68.96 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,013 Manufacturing - Apparel & Accessories companies, Taiwan Paiho ranks better than 70.09% 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 Paiho's annualized net income for the quarter that ended in Dec. 2025 was NT$873 Mil. Taiwan Paiho's average shareholder tangible equity for the quarter that ended in Dec. 2025 was NT$12,802 Mil. Therefore, Taiwan Paiho's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 6.82%.
The historical rank and industry rank for Taiwan Paiho's Return-on-Tangible-Equity or its related term are showing as below:
TPE:9938'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 5.07 Med: 16.5 Max: 20.74
Current: 9.68
During the past 13 years, Taiwan Paiho's highest Return-on-Tangible-Equity was 20.74%. The lowest was 5.07%. And the median was 16.50%.
TPE:9938's Return-on-Tangible-Equity is ranked better than 70.09% of 1013
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.43
vs TPE:9938: 9.68
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 Paiho Return-on-Tangible-Equity Related Terms
Taiwan Paiho Return-on-Tangible-Equity Historical Data
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The historical data trend for Taiwan Paiho'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.
For the Textile Manufacturing subindustry, Taiwan Paiho'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 Paiho Return-on-Tangible-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Taiwan Paiho's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Taiwan Paiho'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 6.82% mean?
Taiwan Paiho (TPE:9938) has a Return-on-Tangible-Equity of 6.82% 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 Taiwan Paiho and its competitors. This is 59% below median its historical median of 16.50. Over the past decade, Taiwan Paiho's Return-on-Tangible-Equity has ranged from 5.07 to 20.74. According to the industry distribution chart, Taiwan Paiho ranks #303 out of 1013 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 29.9%.
Is Taiwan Paiho's Return-on-Tangible-Equity too high?
Taiwan Paiho's current Return-on-Tangible-Equity of 6.82% is 59% below median its 10-year median of 16.50. Over the past 10 years, this metric has ranged from a low of 5.07 to a high of 20.74. The Manufacturing - Apparel & Accessories industry median Return-on-Tangible-Equity is 4.43. Taiwan Paiho's value of 6.82% is 54% above this industry median. Based on the distribution chart, Taiwan Paiho ranks #303 out of 1013 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Taiwan Paiho has a GF Score™ of 79/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Taiwan Paiho's Return-on-Tangible-Equity compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Taiwan Paiho ranks #303 out of 1013 companies for Return-on-Tangible-Equity. This puts Taiwan Paiho in the upper half of its industry. The industry median Return-on-Tangible-Equity is 4.43. Taiwan Paiho's value of 6.82% is 54% above this benchmark. Historically, Taiwan Paiho's own Return-on-Tangible-Equity has ranged from 5.07 to 20.74 over the past decade. While the company's 10-year median is 16.50 vs. the industry median of 4.43, Taiwan Paiho 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 Manufacturing - Apparel & Accessories company?
The median Return-on-Tangible-Equity among Manufacturing - Apparel & Accessories companies is 4.43, based on 1,013 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 Paiho's current Return-on-Tangible-Equity of 6.82% is 54% 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 Paiho and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Return-on-Tangible-Equity is 4.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Paiho's current Return-on-Tangible-Equity is 6.82%, which is 59% below median its own 10-year median of 16.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Paiho stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Paiho (TPE:9938) is currently considered Possible Value Trap. The stock's GF Value™ is NT$68.96, compared to a current price of NT$46.15 — trading 33.1% below its estimated fair value. The current Return-on-Tangible-Equity is 6.82%, which is 59% below median its 10-year median of 16.50 and 54% above the Manufacturing - Apparel & Accessories industry median of 4.43. Taiwan Paiho's overall GF Score™ is 79/100 with 7 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 Paiho (TPE:9938), the current Return-on-Tangible-Equity is 6.82% 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 Taiwan Paiho (TPE:9938) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Paiho stock appears to be undervalued.
The current stock price of NT$46.15 is trading 33.1% below its estimated GF Value™ of NT$68.96.
GuruFocus considers Taiwan Paiho to be Possible Value Trap.
Key valuation signals for TPE:9938:
Return-on-Tangible-Equity: 6.82% (59% below median its 10-year median of 16.50)
GF Value™: NT$68.96 vs. price of NT$46.15 (33.1% below fair value)
Industry Position: 54% above the Manufacturing - Apparel & Accessories median (#303 of 1013)
No single metric tells the full story. See the TPE:9938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Paiho Ltd manufactures and sells touch fasteners, webbing, shoelaces, elastic, easy tape, and related superficial materials, as well as residential buildings constructed by entrusted construction contractors. The Group is also engaged in the construction business, including the sale of housing, shopping centers, and office buildings constructed by entrusted construction contractors. The Group operates through two reportable segments: Production, which generates maximum revenue, and Construction. Its business mainly operates in Taiwan, China, and Vietnam, with maximum revenue generated from Vietnam.
79GF Score
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