Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Nittoc Construction CoTSE:1929 79 Return-on-Tangible-Equity is 16.65% as of Mar. 2026, which is 44% above its 10-year median of 11.59. GuruFocus rates TSE:1929 with a GF Score™ of 79/100 and a GF Value™ of 円1,279.16 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,712 Construction companies, Nittoc Construction Co ranks better than 61.8% 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. Nittoc Construction Co's annualized net income for the quarter that ended in Mar. 2026 was 円5,966 Mil. Nittoc Construction Co's average shareholder tangible equity for the quarter that ended in Mar. 2026 was 円35,833 Mil. Therefore, Nittoc Construction Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 16.65%.
The historical rank and industry rank for Nittoc Construction Co's Return-on-Tangible-Equity or its related term are showing as below:
TSE:1929'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.17 Med: 11.59 Max: 13.02
Current: 11.84
During the past 13 years, Nittoc Construction Co's highest Return-on-Tangible-Equity was 13.02%. The lowest was 7.17%. And the median was 11.59%.
TSE:1929's Return-on-Tangible-Equity is ranked better than 61.8% of 1712
companies
in the Construction industry
Industry Median: 8.21
vs TSE:1929: 11.84
Nittoc Construction Co (TSE:1929) 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.
Nittoc Construction Co Return-on-Tangible-Equity Related Terms
Nittoc Construction Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Nittoc Construction 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.
Nittoc Construction Co Return-on-Tangible-Equity Chart
TSE:1929 vs PWR, FIX, EME: Return-on-Tangible-Equity Comparison
For the Engineering & Construction subindustry, Nittoc Construction 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.
Nittoc Construction Co Return-on-Tangible-Equity vs Construction Industry
For the Construction industry and Industrials sector, Nittoc Construction Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Nittoc Construction 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 two times the semi-annual (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 16.65% mean?
Nittoc Construction Co (TSE:1929) has a Return-on-Tangible-Equity of 16.65% 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 Nittoc Construction Co and its competitors. This is 44% above median its historical median of 11.59. Over the past decade, Nittoc Construction Co's Return-on-Tangible-Equity has ranged from 7.17 to 13.02. According to the industry distribution chart, Nittoc Construction Co ranks #654 out of 1712 companies in the Construction industry, placing it in the top 38.2%.
Is Nittoc Construction Co's Return-on-Tangible-Equity too high?
Nittoc Construction Co's current Return-on-Tangible-Equity of 16.65% is 44% above median its 10-year median of 11.59. Over the past 10 years, this metric has ranged from a low of 7.17 to a high of 13.02. The Construction industry median Return-on-Tangible-Equity is 8.21. Nittoc Construction Co's value of 16.65% is 102.8% above this industry median. Based on the distribution chart, Nittoc Construction Co ranks #654 out of 1712 companies in the Construction industry, which is above the industry midpoint. Overall, Nittoc Construction Co has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nittoc Construction Co's Return-on-Tangible-Equity compare to PWR and FIX?
According to the Construction industry distribution chart, Nittoc Construction Co ranks #654 out of 1712 companies for Return-on-Tangible-Equity. This puts Nittoc Construction Co in the upper half of its industry. The industry median Return-on-Tangible-Equity is 8.21. Nittoc Construction Co's value of 16.65% is 102.8% above this benchmark. Historically, Nittoc Construction Co's own Return-on-Tangible-Equity has ranged from 7.17 to 13.02 over the past decade. While the company's 10-year median is 11.59 vs. the industry median of 8.21, Nittoc Construction 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 Construction company?
The median Return-on-Tangible-Equity among Construction companies is 8.21, based on 1,712 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. Nittoc Construction Co's current Return-on-Tangible-Equity of 16.65% is 102.8% 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 Nittoc Construction Co and its competitors. For the Construction industry, the median Return-on-Tangible-Equity is 8.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nittoc Construction Co's current Return-on-Tangible-Equity is 16.65%, which is 44% above median its own 10-year median of 11.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nittoc Construction Co stock overvalued right now?
Based on GuruFocus' analysis, Nittoc Construction Co (TSE:1929) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,279.16, compared to a current price of 円1,116.00 — trading 12.8% below its estimated fair value. The current Return-on-Tangible-Equity is 16.65%, which is 44% above median its 10-year median of 11.59 and 102.8% above the Construction industry median of 8.21. Nittoc Construction Co's overall GF Score™ is 79/100 with 2 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 Nittoc Construction Co (TSE:1929), the current Return-on-Tangible-Equity is 16.65% 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 Nittoc Construction Co (TSE:1929) Overvalued in 2026?
Based on GuruFocus' analysis, Nittoc Construction Co stock appears to be undervalued.
The current stock price of 円1,116.00 is trading 12.8% below its estimated GF Value™ of 円1,279.16.
GuruFocus considers Nittoc Construction Co to be Modestly Undervalued.
Key valuation signals for TSE:1929:
Return-on-Tangible-Equity: 16.65% (44% above median its 10-year median of 11.59)
GF Value™: 円1,279.16 vs. price of 円1,116.00 (12.8% below fair value)
Industry Position: 102.8% above the Construction median (#654 of 1712)
No single metric tells the full story. See the TSE:1929 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nittoc Construction Co Ltd is engaged in the construction business as well as several other business activities such as sales of merchandise and materials. Its services include Revegetation Works, Temporary Anchoring Works, Riverbank and Shoreline Embankment Protection, Slope Stabilization and Vegetation Works, Slope Protection, Landslide Mitigation Works, Rock Slope Failure Prevention, Ground Anchors and Anchored Systems, Retaining Walls Construction, and Structural Diagnostics.
79GF Score
Get the complete analysis for TSE:1929
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:1929 has been successfully added to your 
