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.
JIG-SAWTSE:3914 -0.91%74 Return-on-Tangible-Equity is 14.49% as of Dec. 2025, which is 31% below its 10-year median of 20.91. GuruFocus rates TSE:3914 with a GF Score™ of 74/100 and a GF Value™ of 円4,538.86 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 2,481 Software companies, JIG-SAW ranks better than 59.81% 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. JIG-SAW's annualized net income for the quarter that ended in Dec. 2025 was 円471 Mil. JIG-SAW's average shareholder tangible equity for the quarter that ended in Dec. 2025 was 円3,248 Mil. Therefore, JIG-SAW's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 14.49%.
The historical rank and industry rank for JIG-SAW's Return-on-Tangible-Equity or its related term are showing as below:
TSE:3914'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 13 Med: 20.91 Max: 29.4
Current: 14.74
During the past 12 years, JIG-SAW's highest Return-on-Tangible-Equity was 29.40%. The lowest was 13.00%. And the median was 20.91%.
TSE:3914's Return-on-Tangible-Equity is ranked better than 59.81% of 2481
companies
in the Software industry
Industry Median: 8.86
vs TSE:3914: 14.74
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.
JIG-SAW Return-on-Tangible-Equity Related Terms
JIG-SAW Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for JIG-SAW'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:3914 vs MSFT, ORCL, PLTR: Return-on-Tangible-Equity Comparison
For the Software - Infrastructure subindustry, JIG-SAW'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.
JIG-SAW Return-on-Tangible-Equity vs Software Industry
For the Software industry and Technology sector, JIG-SAW's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where JIG-SAW'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 14.49% mean?
JIG-SAW (TSE:3914) has a Return-on-Tangible-Equity of 14.49% 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 JIG-SAW and its competitors. This is 31% below median its historical median of 20.91. Over the past decade, JIG-SAW's Return-on-Tangible-Equity has ranged from 13.00 to 29.40. According to the industry distribution chart, JIG-SAW ranks #997 out of 2481 companies in the Software industry, placing it in the top 40.2%.
Is JIG-SAW's Return-on-Tangible-Equity too high?
JIG-SAW's current Return-on-Tangible-Equity of 14.49% is 31% below median its 10-year median of 20.91. Over the past 10 years, this metric has ranged from a low of 13.00 to a high of 29.40. The Software industry median Return-on-Tangible-Equity is 8.86. JIG-SAW's value of 14.49% is 63.5% above this industry median. Based on the distribution chart, JIG-SAW ranks #997 out of 2481 companies in the Software industry, which is above the industry midpoint. Overall, JIG-SAW has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does JIG-SAW's Return-on-Tangible-Equity compare to MSFT and ORCL?
According to the Software industry distribution chart, JIG-SAW ranks #997 out of 2481 companies for Return-on-Tangible-Equity. This puts JIG-SAW in the upper half of its industry. The industry median Return-on-Tangible-Equity is 8.86. JIG-SAW's value of 14.49% is 63.5% above this benchmark. Historically, JIG-SAW's own Return-on-Tangible-Equity has ranged from 13.00 to 29.40 over the past decade. While the company's 10-year median is 20.91 vs. the industry median of 8.86, JIG-SAW 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 Software company?
The median Return-on-Tangible-Equity among Software companies is 8.86, based on 2,481 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. JIG-SAW's current Return-on-Tangible-Equity of 14.49% is 63.5% 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 JIG-SAW and its competitors. For the Software industry, the median Return-on-Tangible-Equity is 8.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JIG-SAW's current Return-on-Tangible-Equity is 14.49%, which is 31% below median its own 10-year median of 20.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JIG-SAW stock overvalued right now?
Based on GuruFocus' analysis, JIG-SAW (TSE:3914) is currently considered Significantly Undervalued. The stock's GF Value™ is 円4,538.86, compared to a current price of 円2,391.00 — trading 47.3% below its estimated fair value. The current Return-on-Tangible-Equity is 14.49%, which is 31% below median its 10-year median of 20.91 and 63.5% above the Software industry median of 8.86. JIG-SAW's overall GF Score™ is 74/100 with 1 warning sign 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 JIG-SAW (TSE:3914), the current Return-on-Tangible-Equity is 14.49% 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 JIG-SAW (TSE:3914) Overvalued in 2026?
Based on GuruFocus' analysis, JIG-SAW stock appears to be undervalued.
The current stock price of 円2,391.00 is trading 47.3% below its estimated GF Value™ of 円4,538.86.
GuruFocus considers JIG-SAW to be Significantly Undervalued.
Key valuation signals for TSE:3914:
Return-on-Tangible-Equity: 14.49% (31% below median its 10-year median of 20.91)
GF Value™: 円4,538.86 vs. price of 円2,391.00 (47.3% below fair value)
Industry Position: 63.5% above the Software median (#997 of 2481)
No single metric tells the full story. See the TSE:3914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JIG-SAW Inc is a Japan-based company engaged in the software-infrastructure business sector. It provides managed services using automatic operation and control AI robot technology. The services offered by the company include Monitoring, Data Control, embedded, selecting cloud, infrastructure, and Module/Chip, among others. The company operates in a single segment, the Data Control Business.
74GF Score
Get the complete analysis for TSE:3914
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:3914 has been successfully added to your 
