Zero CoTSE:9028 -0.14%75 Return-on-Tangible-Equity is 20.50% as of Mar. 2026, which is 60% above its 10-year median of 12.79. GuruFocus rates TSE:9028 with a GF Score™ of 75/100 and a GF Value™ of 円2,580.84 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,282 Vehicles & Parts companies, Zero Co ranks better than 72.93% 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. Zero Co's annualized net income for the quarter that ended in Mar. 2026 was 円8,220 Mil. Zero Co's average shareholder tangible equity for the quarter that ended in Mar. 2026 was 円40,104 Mil. Therefore, Zero Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 20.50%.
The historical rank and industry rank for Zero Co's Return-on-Tangible-Equity or its related term are showing as below:
TSE:9028'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 8.4 Med: 12.79 Max: 22.28
Current: 14.48
During the past 13 years, Zero Co's highest Return-on-Tangible-Equity was 22.28%. The lowest was 8.40%. And the median was 12.79%.
TSE:9028's Return-on-Tangible-Equity is ranked better than 72.93% of 1282
companies
in the Vehicles & Parts industry
Industry Median: 7.5
vs TSE:9028: 14.48
Zero Co (TSE:9028) 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.
Zero Co Return-on-Tangible-Equity Related Terms
Zero Co Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Zero 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.
TSE:9028 vs CVNA, PAG, ALTB: Return-on-Tangible-Equity Comparison
For the Auto & Truck Dealerships subindustry, Zero 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.
Zero Co Return-on-Tangible-Equity vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Zero Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Zero 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 (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 20.50% mean?
Zero Co (TSE:9028) has a Return-on-Tangible-Equity of 20.50% 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 Zero Co and its competitors. This is 60% above median its historical median of 12.79. Over the past decade, Zero Co's Return-on-Tangible-Equity has ranged from 8.40 to 22.28. According to the industry distribution chart, Zero Co ranks #347 out of 1282 companies in the Vehicles & Parts industry, placing it in the top 27.1%.
Is Zero Co's Return-on-Tangible-Equity too high?
Zero Co's current Return-on-Tangible-Equity of 20.50% is 60% above median its 10-year median of 12.79. Over the past 10 years, this metric has ranged from a low of 8.40 to a high of 22.28. The Vehicles & Parts industry median Return-on-Tangible-Equity is 7.50. Zero Co's value of 20.50% is 173.3% above this industry median. Based on the distribution chart, Zero Co ranks #347 out of 1282 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Zero Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zero Co's Return-on-Tangible-Equity compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Zero Co ranks #347 out of 1282 companies for Return-on-Tangible-Equity. This puts Zero Co in the upper half of its industry. The industry median Return-on-Tangible-Equity is 7.50. Zero Co's value of 20.50% is 173.3% above this benchmark. Historically, Zero Co's own Return-on-Tangible-Equity has ranged from 8.40 to 22.28 over the past decade. While the company's 10-year median is 12.79 vs. the industry median of 7.50, Zero 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 Vehicles & Parts company?
The median Return-on-Tangible-Equity among Vehicles & Parts companies is 7.50, based on 1,282 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. Zero Co's current Return-on-Tangible-Equity of 20.50% is 173.3% 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 Zero Co and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Equity is 7.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zero Co's current Return-on-Tangible-Equity is 20.50%, which is 60% above median its own 10-year median of 12.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zero Co stock overvalued right now?
Based on GuruFocus' analysis, Zero Co (TSE:9028) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,580.84, compared to a current price of 円3,670.00 — trading 42.2% above its estimated fair value. The current Return-on-Tangible-Equity is 20.50%, which is 60% above median its 10-year median of 12.79 and 173.3% above the Vehicles & Parts industry median of 7.50. Zero Co's overall GF Score™ is 75/100 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 Zero Co (TSE:9028), the current Return-on-Tangible-Equity is 20.50% 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 Zero Co (TSE:9028) Overvalued in 2026?
Based on GuruFocus' analysis, Zero Co stock appears to be overvalued.
The current stock price of 円3,670.00 is trading 42.2% above its estimated GF Value™ of 円2,580.84.
GuruFocus considers Zero Co to be Significantly Overvalued.
Key valuation signals for TSE:9028:
Return-on-Tangible-Equity: 20.50% (60% above median its 10-year median of 12.79)
GF Value™: 円2,580.84 vs. price of 円3,670.00 (42.2% above fair value)
Industry Position: 173.3% above the Vehicles & Parts median (#347 of 1282)
No single metric tells the full story. See the TSE:9028 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zero Co Ltd provides transportation services including new and used vehicle transportation, door-to-door transportation of private cars and motorbikes, new and heavy vehicle maintenance, handling and vehicle inspection at the auto auction.
75GF Score
Get the complete analysis for TSE:9028
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:9028 has been successfully added to your 
