Note (TSE:5243) ROE % Adjusted to Book Value: 3.32% (As of Nov. 2025)

Note TSE:5243 +2.52% 60 ROE % Adjusted to Book Value is 3.32% as of Nov. 2025. GuruFocus rates TSE:5243 with a GF Score™ of 60/100 and a GF Value™ of 円999.29 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Note's ROE % for the quarter that ended in Nov. 2025 was 32.14%. Note's PB Ratio for the quarter that ended in Nov. 2025 was 9.67. Note's ROE % Adjusted to Book Value for the quarter that ended in Nov. 2025 was 3.32%.

Note ROE % Adjusted to Book Value Related Terms

Note ROE % Adjusted to Book Value Historical Data

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The historical data trend for Note's ROE % Adjusted to Book Value 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.

Note ROE % Adjusted to Book Value Chart

Note Annual Data

Trend

Nov20

Nov21

Nov22

Nov23

Nov24

Nov25

ROE % Adjusted to Book Value

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0.00

-4.08

1.38

1.98

Note Quarterly Data
	Nov20	Nov21	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24	Nov24	Feb25	May25	Aug25	Nov25	Feb26
ROE % Adjusted to Book Value	Get a 7-Day Free Trial												0.10	1.05	2.76	3.32	3.70

TSE:5243 vs UBER, SHOP, CRM: ROE % Adjusted to Book Value Comparison

For the Software - Application subindustry, Note's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book Value 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.

Note ROE % Adjusted to Book Value vs Software Industry

For the Software industry and Technology sector, Note's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where Note's ROE % Adjusted to Book Value falls into.

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Note Inc TSE:5243

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Note ROE % Adjusted to Book Value Calculation

Note's ROE % Adjusted to Book Value for the fiscal year that ended in Nov. 2025 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	19.15%	/	9.67
	=	1.98%

Note's ROE % Adjusted to Book Value for the quarter that ended in Nov. 2025 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	32.14%	/	9.67
	=	3.32%

Frequently Asked Questions Learn more about ROE % Adjusted to Book Value →

What does a ROE % Adjusted to Book Value of 3.32% mean?

Note (TSE:5243) has a ROE % Adjusted to Book Value of 3.32% as of Nov. 2025. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Note and its competitors.

Is Note's ROE % Adjusted to Book Value too high?

Note's current ROE % Adjusted to Book Value is 3.32%. Overall, Note has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Note's ROE % Adjusted to Book Value compare to UBER and SHOP?

Note's ROE % Adjusted to Book Value of 3.32% can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROE % Adjusted to Book Value for a Software company?

A good ROE % Adjusted to Book Value depends on the Software industry context. However, ROE % Adjusted to Book Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROE % Adjusted to Book Value mean?

A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Note and its competitors. Note's current ROE % Adjusted to Book Value is 3.32%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Note stock overvalued right now?

Based on GuruFocus' analysis, Note (TSE:5243) is currently considered Significantly Overvalued. The stock's GF Value™ is 円999.29, compared to a current price of 円2,075.00 — trading 107.6% above its estimated fair value. The current ROE % Adjusted to Book Value is 3.32%. Note's overall GF Score™ is 60/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROE % Adjusted to Book Value calculated?

ROE % Adjusted to Book Value is calculated from a company's financial statements. For Note (TSE:5243), the current ROE % Adjusted to Book Value is 3.32% as of Nov. 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 Note (TSE:5243) Overvalued in 2026?

Based on GuruFocus' analysis, Note stock appears to be overvalued. The current stock price of 円2,075.00 is trading 107.6% above its estimated GF Value™ of 円999.29. GuruFocus considers Note to be Significantly Overvalued.

Key valuation signals for TSE:5243:

ROE % Adjusted to Book Value: 3.32%
GF Value™: 円999.29 vs. price of 円2,075.00 (107.6% above fair value)
GF Score™: 60/100 with 3 warning signs

No single metric tells the full story. See the TSE:5243 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Note Business Description

Industry Technology Software

Comparable Companies TSE:4375 TSE:3692 TSE:4323 TSE:3983 TSE:3836 TSE:4477 TSE:3771 TSE:4826 TSE:9702 TSE:9687 XTER:SAP UBER SHOP CRM CDNS NOW ADP SNOW DDOG ADBE

Address 3-1-2 Kitaaoyama, Minato-ku, Tokyo, JPN, 107-0061

Website https://note.jp

Note Inc is engaged in the operation of C2C content platform.

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円2,075.00

Price

円999.29

GF Value

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