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. Ray Go Solar Holdings Bhd's annualized net income for the quarter that ended in Apr. 2026 was RM1.39 Mil. Ray Go Solar Holdings Bhd's average shareholder tangible equity for the quarter that ended in Apr. 2026 was RM10.25 Mil. Therefore, Ray Go Solar Holdings Bhd's annualized Return-on-Tangible-Equity for the quarter that ended in Apr. 2026 was 13.58%.
The historical rank and industry rank for Ray Go Solar Holdings Bhd's Return-on-Tangible-Equity or its related term are showing as below:
XKLS:03052'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -21.67 Med: 12.9 Max: 42.01
Current: 11.13
During the past 7 years, Ray Go Solar Holdings Bhd's highest Return-on-Tangible-Equity was 42.01%. The lowest was -21.67%. And the median was 12.90%.
XKLS:03052's Return-on-Tangible-Equity is not ranked
in the Semiconductors industry.
Industry Median: 5.24
vs XKLS:03052: 11.13
Ray Go Solar Holdings Bhd (XKLS:03052) 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.
Ray Go Solar Holdings Bhd Return-on-Tangible-Equity Related Terms
Ray Go Solar Holdings Bhd Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Ray Go Solar Holdings Bhd'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.
Ray Go Solar Holdings Bhd Return-on-Tangible-Equity Chart
XKLS:03052 vs FSLR, NXT, ENPH: Return-on-Tangible-Equity Comparison
For the Solar subindustry, Ray Go Solar Holdings Bhd'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.
Ray Go Solar Holdings Bhd Return-on-Tangible-Equity vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Ray Go Solar Holdings Bhd's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Ray Go Solar Holdings Bhd'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 (Apr. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 13.58% mean?
Ray Go Solar Holdings Bhd (XKLS:03052) has a Return-on-Tangible-Equity of 13.58% as of Apr. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Ray Go Solar Holdings Bhd and its competitors. This is near median its historical median of 12.90.
Is Ray Go Solar Holdings Bhd's Return-on-Tangible-Equity too high?
Ray Go Solar Holdings Bhd's current Return-on-Tangible-Equity of 13.58% is near median its 10-year median of 12.90. The Semiconductors industry median Return-on-Tangible-Equity is 5.24. Ray Go Solar Holdings Bhd's value of 13.58% is 159.2% above this industry median. Overall, Ray Go Solar Holdings Bhd has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.
How does Ray Go Solar Holdings Bhd's Return-on-Tangible-Equity compare to FSLR and NXT?
Ray Go Solar Holdings Bhd's Return-on-Tangible-Equity of 13.58% can be compared against companies in the Semiconductors industry. The industry median Return-on-Tangible-Equity is 5.24. Ray Go Solar Holdings Bhd's value of 13.58% is 159.2% above this benchmark. While the company's 10-year median is 12.90 vs. the industry median of 5.24, Ray Go Solar Holdings Bhd 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 Semiconductors company?
The median Return-on-Tangible-Equity among Semiconductors companies is 5.24, based on 984 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. Ray Go Solar Holdings Bhd's current Return-on-Tangible-Equity of 13.58% is 159.2% 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 Ray Go Solar Holdings Bhd and its competitors. For the Semiconductors industry, the median Return-on-Tangible-Equity is 5.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ray Go Solar Holdings Bhd's current Return-on-Tangible-Equity is 13.58%, which is near median its own 10-year median of 12.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ray Go Solar Holdings Bhd stock overvalued right now?
Ray Go Solar Holdings Bhd (XKLS:03052) has a current Return-on-Tangible-Equity of 13.58%. The stock's GF Value™ is RM0.24, compared to a current price of RM0.17 — trading 29.2% below its estimated fair value. The current Return-on-Tangible-Equity is 13.58%, which is near median its 10-year median of 12.90 and 159.2% above the Semiconductors industry median of 5.24. Ray Go Solar Holdings Bhd's overall GF Score™ is 43/100 with 7 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 Ray Go Solar Holdings Bhd (XKLS:03052), the current Return-on-Tangible-Equity is 13.58% as of Apr. 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 Ray Go Solar Holdings Bhd (XKLS:03052) Overvalued in 2026?
Based on GuruFocus' analysis, Ray Go Solar Holdings Bhd stock appears to be undervalued.
The current stock price of RM0.17 is trading 29.2% below its estimated GF Value™ of RM0.24.
Key valuation signals for XKLS:03052:
Return-on-Tangible-Equity: 13.58% (near median its 10-year median of 12.90)
GF Value™: RM0.24 vs. price of RM0.17 (29.2% below fair value)
Industry Position: 159.2% above the Semiconductors median
No single metric tells the full story. See the XKLS:03052 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ray Go Solar Holdings Bhd is a solar engineering procurement construction (EPC) company providing integrated solar services throughout the entire process of installing a photovoltaic (PV) system. Its business segments include Sales of energy generated from solar projects; and Engineering, Procurement, Construction, and Commissions (EPCC) in solar projects; and operations and maintenance for solar projects. Maximum revenue for the company is derived from its EPCC segment. Geographically, it operates only in Malaysia.
43GF Score
Get the complete analysis for XKLS:03052
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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