MorinagaTSE:2201 -1.85%85 Return-on-Tangible-Equity is 6.58% as of Mar. 2026, which is 48% below its 10-year median of 12.63. GuruFocus rates TSE:2201 with a GF Score™ of 85/100 and a GF Value™ of 円3,103.02 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,872 Consumer Packaged Goods companies, Morinaga ranks better than 67.79% 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. Morinaga's annualized net income for the quarter that ended in Mar. 2026 was 円8,844 Mil. Morinaga's average shareholder tangible equity for the quarter that ended in Mar. 2026 was 円134,467 Mil. Therefore, Morinaga's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 6.58%.
The historical rank and industry rank for Morinaga's Return-on-Tangible-Equity or its related term are showing as below:
TSE:2201'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.94 Med: 12.63 Max: 22.03
Current: 13.84
During the past 13 years, Morinaga's highest Return-on-Tangible-Equity was 22.03%. The lowest was 7.94%. And the median was 12.63%.
TSE:2201's Return-on-Tangible-Equity is ranked better than 67.79% of 1872
companies
in the Consumer Packaged Goods industry
Industry Median: 7.73
vs TSE:2201: 13.84
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.
Morinaga Return-on-Tangible-Equity Related Terms
Morinaga Return-on-Tangible-Equity Historical Data
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The historical data trend for Morinaga'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.
TSE:2201 vs MDLZ, HSY, TR: Return-on-Tangible-Equity Comparison
For the Confectioners subindustry, Morinaga'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.
Morinaga Return-on-Tangible-Equity vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Morinaga'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 6.58% mean?
Morinaga (TSE:2201) has a Return-on-Tangible-Equity of 6.58% 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 Morinaga and its competitors. This is 48% below median its historical median of 12.63. Over the past decade, Morinaga's Return-on-Tangible-Equity has ranged from 7.94 to 22.03. According to the industry distribution chart, Morinaga ranks #603 out of 1872 companies in the Consumer Packaged Goods industry, placing it in the top 32.2%.
Is Morinaga's Return-on-Tangible-Equity too high?
Morinaga's current Return-on-Tangible-Equity of 6.58% is 48% below median its 10-year median of 12.63. Over the past 10 years, this metric has ranged from a low of 7.94 to a high of 22.03. The Consumer Packaged Goods industry median Return-on-Tangible-Equity is 7.73. Morinaga's value of 6.58% is 14.9% below this industry median. Based on the distribution chart, Morinaga ranks #603 out of 1872 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Morinaga has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga's Return-on-Tangible-Equity compare to MDLZ and HSY?
According to the Consumer Packaged Goods industry distribution chart, Morinaga ranks #603 out of 1872 companies for Return-on-Tangible-Equity. This puts Morinaga in the upper half of its industry. The industry median Return-on-Tangible-Equity is 7.73. Morinaga's value of 6.58% is 14.9% below this benchmark. Historically, Morinaga's own Return-on-Tangible-Equity has ranged from 7.94 to 22.03 over the past decade. While the company's 10-year median is 12.63 vs. the industry median of 7.73, Morinaga has consistently been below 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 Consumer Packaged Goods company?
The median Return-on-Tangible-Equity among Consumer Packaged Goods companies is 7.73, based on 1,872 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. Morinaga's current Return-on-Tangible-Equity of 6.58% is 14.9% below 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 Morinaga and its competitors. For the Consumer Packaged Goods industry, the median Return-on-Tangible-Equity is 7.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga's current Return-on-Tangible-Equity is 6.58%, which is 48% below median its own 10-year median of 12.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga stock overvalued right now?
Based on GuruFocus' analysis, Morinaga (TSE:2201) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,103.02, compared to a current price of 円2,656.00 — trading 14.4% below its estimated fair value. The current Return-on-Tangible-Equity is 6.58%, which is 48% below median its 10-year median of 12.63 and 14.9% below the Consumer Packaged Goods industry median of 7.73. Morinaga's overall GF Score™ is 85/100 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 Morinaga (TSE:2201), the current Return-on-Tangible-Equity is 6.58% 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 Morinaga (TSE:2201) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga stock appears to be undervalued.
The current stock price of 円2,656.00 is trading 14.4% below its estimated GF Value™ of 円3,103.02.
GuruFocus considers Morinaga to be Modestly Undervalued.
Key valuation signals for TSE:2201:
Return-on-Tangible-Equity: 6.58% (48% below median its 10-year median of 12.63)
GF Value™: 円3,103.02 vs. price of 円2,656.00 (14.4% below fair value)
Industry Position: 14.9% below the Consumer Packaged Goods median (#603 of 1872)
No single metric tells the full story. See the TSE:2201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga & Co Ltd is a Japan-based confectionery company. It has developed a diverse range of confectionery products, canned soft drinks and ice cream that are delicious, fun, and healthy. The company's products are divided into five main divisions, Confectioneries, Foods, Frozen Desserts, Weider, and Healthcare. Confectionaries include Morinaga Biscuits, Chocoball chocolate, Dars chocolate, Koeda chocolate, and HI-CHEW candy. Foods include Morinaga Cocoa; Frozen Desserts include Choco Monaka Jumbo; Weider products include Weider in Jelly; and Healthcare products include Seisho-sabo, Kenpo-shukan, and Collagen drink.
85GF Score
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