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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. ZEAL Associate's annualized net income for the quarter that ended in Feb. 2026 was 円65 Mil. ZEAL Associate's average shareholder tangible equity for the quarter that ended in Feb. 2026 was 円307 Mil. Therefore, ZEAL Associate's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 21.11%.
The historical rank and industry rank for ZEAL Associate's Return-on-Tangible-Equity or its related term are showing as below:
TSE:329A'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 9.28 Med: 18.98 Max: 25.58
Current: 25.58
During the past 3 years, ZEAL Associate's highest Return-on-Tangible-Equity was 25.58%. The lowest was 9.28%. And the median was 18.98%.
TSE:329A's Return-on-Tangible-Equity is not ranked
in the Conglomerates industry.
Industry Median: 7.465
vs TSE:329A: 25.58
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.
ZEAL Associate Return-on-Tangible-Equity Related Terms
ZEAL Associate Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for ZEAL Associate'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.
ZEAL Associate Return-on-Tangible-Equity Chart
ZEAL Associate Annual Data
Trend
Aug23
Aug24
Aug25
Return-on-Tangible-Equity
9.28
18.98
20.50
ZEAL Associate Semi-Annual Data
Aug23
Aug24
Feb25
Aug25
Feb26
Return-on-Tangible-Equity
0.00
0.00
11.90
30.15
21.11
TSE:329A vs HON, MMM: Return-on-Tangible-Equity Comparison
For the Conglomerates subindustry, ZEAL Associate'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.
ZEAL Associate Return-on-Tangible-Equity vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, ZEAL Associate's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where ZEAL Associate'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 (Feb. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 21.11% mean?
ZEAL Associate (TSE:329A) has a Return-on-Tangible-Equity of 21.11% as of Feb. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on ZEAL Associate and its competitors. This is 11% above median its historical median of 18.98. Over the past decade, ZEAL Associate's Return-on-Tangible-Equity has ranged from 9.28 to 25.58.
Is ZEAL Associate's Return-on-Tangible-Equity too high?
ZEAL Associate's current Return-on-Tangible-Equity of 21.11% is 11% above median its 10-year median of 18.98. Over the past 10 years, this metric has ranged from a low of 9.28 to a high of 25.58. The Conglomerates industry median Return-on-Tangible-Equity is 7.47. ZEAL Associate's value of 21.11% is 182.8% above this industry median. Overall, ZEAL Associate has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does ZEAL Associate's Return-on-Tangible-Equity compare to HON and MMM?
ZEAL Associate's Return-on-Tangible-Equity of 21.11% can be compared against companies in the Conglomerates industry. The industry median Return-on-Tangible-Equity is 7.47. ZEAL Associate's value of 21.11% is 182.8% above this benchmark. Historically, ZEAL Associate's own Return-on-Tangible-Equity has ranged from 9.28 to 25.58 over the past decade. While the company's 10-year median is 18.98 vs. the industry median of 7.47, ZEAL Associate 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 Conglomerates company?
The median Return-on-Tangible-Equity among Conglomerates companies is 7.47, based on 550 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. ZEAL Associate's current Return-on-Tangible-Equity of 21.11% is 182.8% 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 ZEAL Associate and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Equity is 7.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZEAL Associate's current Return-on-Tangible-Equity is 21.11%, which is 11% above median its own 10-year median of 18.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZEAL Associate stock overvalued right now?
ZEAL Associate (TSE:329A) has a current Return-on-Tangible-Equity of 21.11%. The current Return-on-Tangible-Equity is 21.11%, which is 11% above median its 10-year median of 18.98 and 182.8% above the Conglomerates industry median of 7.47. ZEAL Associate's overall GF Score™ is 16/100 with 3 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 ZEAL Associate (TSE:329A), the current Return-on-Tangible-Equity is 21.11% as of Feb. 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.
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