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Onward Holdings CoTSE:8016 +0.41%77 Return-on-Tangible-Equity is 12.60% as of Feb. 2026, which is 186% above its 10-year median of 4.40. GuruFocus rates TSE:8016 with a GF Score™ of 77/100 and a GF Value™ of 円687.02 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,013 Manufacturing - Apparel & Accessories companies, Onward Holdings Co ranks better than 79.47% 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. Onward Holdings Co's annualized net income for the quarter that ended in Feb. 2026 was 円9,836 Mil. Onward Holdings Co's average shareholder tangible equity for the quarter that ended in Feb. 2026 was 円78,041 Mil. Therefore, Onward Holdings Co's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 12.60%.
The historical rank and industry rank for Onward Holdings Co's Return-on-Tangible-Equity or its related term are showing as below:
TSE:8016'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -47.4 Med: 4.4 Max: 16.5
Current: 14.31
During the past 13 years, Onward Holdings Co's highest Return-on-Tangible-Equity was 16.50%. The lowest was -47.40%. And the median was 4.40%.
TSE:8016's Return-on-Tangible-Equity is ranked better than 79.47% of 1013
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.43
vs TSE:8016: 14.31
Onward Holdings Co (TSE:8016) 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.
Onward Holdings Co Return-on-Tangible-Equity Related Terms
Onward Holdings Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Onward Holdings 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.
Onward Holdings Co Return-on-Tangible-Equity Chart
TSE:8016 vs RL, LEVI, VFC: Return-on-Tangible-Equity Comparison
For the Apparel Manufacturing subindustry, Onward Holdings 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.
Onward Holdings Co Return-on-Tangible-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Onward Holdings Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Onward Holdings 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 four times the quarterly (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 12.60% mean?
Onward Holdings Co (TSE:8016) has a Return-on-Tangible-Equity of 12.60% 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 Onward Holdings Co and its competitors. This is 186% above median its historical median of 4.40. According to the industry distribution chart, Onward Holdings Co ranks #208 out of 1013 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 20.5%.
Is Onward Holdings Co's Return-on-Tangible-Equity too high?
Onward Holdings Co's current Return-on-Tangible-Equity of 12.60% is 186% above median its 10-year median of 4.40. The Manufacturing - Apparel & Accessories industry median Return-on-Tangible-Equity is 4.43. Onward Holdings Co's value of 12.60% is 184.4% above this industry median. Based on the distribution chart, Onward Holdings Co ranks #208 out of 1013 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Onward Holdings Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Onward Holdings Co's Return-on-Tangible-Equity compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Onward Holdings Co ranks #208 out of 1013 companies for Return-on-Tangible-Equity. This places Onward Holdings Co in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 4.43. Onward Holdings Co's value of 12.60% is 184.4% above this benchmark. While the company's 10-year median is 4.40 vs. the industry median of 4.43, Onward Holdings 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 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. Onward Holdings Co's current Return-on-Tangible-Equity of 12.60% is 184.4% 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 Onward Holdings Co 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. Onward Holdings Co's current Return-on-Tangible-Equity is 12.60%, which is 186% above median its own 10-year median of 4.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Onward Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Onward Holdings Co (TSE:8016) is currently considered Fairly Valued. The stock's GF Value™ is 円687.02, compared to a current price of 円738.00 — trading 7.4% above its estimated fair value. The current Return-on-Tangible-Equity is 12.60%, which is 186% above median its 10-year median of 4.40 and 184.4% above the Manufacturing - Apparel & Accessories industry median of 4.43. Onward Holdings Co's overall GF Score™ is 77/100 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 Onward Holdings Co (TSE:8016), the current Return-on-Tangible-Equity is 12.60% 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.
Is Onward Holdings Co (TSE:8016) Overvalued in 2026?
Based on GuruFocus' analysis, Onward Holdings Co stock appears to be overvalued.
The current stock price of 円738.00 is trading 7.4% above its estimated GF Value™ of 円687.02.
GuruFocus considers Onward Holdings Co to be Fairly Valued.
Key valuation signals for TSE:8016:
Return-on-Tangible-Equity: 12.60% (186% above median its 10-year median of 4.40)
GF Value™: 円687.02 vs. price of 円738.00 (7.4% above fair value)
Industry Position: 184.4% above the Manufacturing - Apparel & Accessories median (#208 of 1013)
No single metric tells the full story. See the TSE:8016 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Onward Holdings Co Ltd manufactures and sells clothing, shoes, uniforms, bags, and other items. Women's clothing sales account for the majority of Onward's apparel revenue. The company's core brands include Nijyusanku, Kumikyoku, ICB, Jiyuku, J.Press, and Gotairiku. More than three-fourths of Onward's sales are through department stores. Remaining sales are through other retailers, directly managed stores, and e-commerce. More than three-fourths of Onward's sales are in Japan, and the majority of the company's remaining sales are in Europe. The company manufactures its products mainly in China.
77GF Score
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