Forth PCLBKK:FORTH +11.03%84 ROE % is 23.53% as of Mar. 2026, which is 17% below its 10-year median of 28.39. GuruFocus rates BKK:FORTH with a GF Score™ of 84/100 and a GF Value™ of ฿13.77 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 557 Conglomerates companies, Forth PCL ranks better than 96.59% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Forth PCL's annualized net income for the quarter that ended in Mar. 2026 was ฿671 Mil. Forth PCL's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ฿2,853 Mil. Therefore, Forth PCL's annualized ROE % for the quarter that ended in Mar. 2026 was 23.53%.
The historical rank and industry rank for Forth PCL's ROE % or its related term are showing as below:
BKK:FORTH'
s ROE % Range Over the Past 10 Years
Min: 10.98 Med: 28.39 Max: 48.26
Current: 37.61
During the past 13 years, Forth PCL's highest ROE % was 48.26%. The lowest was 10.98%. And the median was 28.39%.
BKK:FORTH's ROE % is ranked better than 96.59% of 557
companies
in the Conglomerates industry
Industry Median: 6.15
vs BKK:FORTH: 37.61
Forth PCL (BKK:FORTH) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
Forth PCL ROE % Related Terms
Forth PCL ROE % Historical Data
* Premium members only.
The historical data trend for Forth PCL's ROE % 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.
For the Conglomerates subindustry, Forth PCL's ROE %, along with its competitors' market caps and ROE % 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.
Forth PCL ROE % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Forth PCL's ROE % distribution charts can be found below:
* The bar in red indicates where Forth PCL's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
Forth PCL (BKK:FORTH) has a ROE % of 23.53% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Forth PCL and its competitors. This is 17% below median its historical median of 28.39. Over the past decade, Forth PCL's ROE % has ranged from 10.98 to 48.26. According to the industry distribution chart, Forth PCL ranks #19 out of 557 companies in the Conglomerates industry, placing it in the top 3.4%.
Is Forth PCL's ROE % too high?
Forth PCL's current ROE % of 23.53% is 17% below median its 10-year median of 28.39. Over the past 10 years, this metric has ranged from a low of 10.98 to a high of 48.26. The Conglomerates industry median ROE % is 6.15. Forth PCL's value of 23.53% is 282.6% above this industry median. Based on the distribution chart, Forth PCL ranks #19 out of 557 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Forth PCL has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth PCL's ROE % compare to HON and MMM?
According to the Conglomerates industry distribution chart, Forth PCL ranks #19 out of 557 companies for ROE %. This places Forth PCL in the top 3% of its industry — outperforming the majority of peers. The industry median ROE % is 6.15. Forth PCL's value of 23.53% is 282.6% above this benchmark. Historically, Forth PCL's own ROE % has ranged from 10.98 to 48.26 over the past decade. While the company's 10-year median is 28.39 vs. the industry median of 6.15, Forth PCL 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 ROE % for a Conglomerates company?
The median ROE % among Conglomerates companies is 6.15, based on 557 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forth PCL's current ROE % of 23.53% is 282.6% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Forth PCL and its competitors. For the Conglomerates industry, the median ROE % is 6.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth PCL's current ROE % is 23.53%, which is 17% below median its own 10-year median of 28.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth PCL (BKK:FORTH) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿13.77, compared to a current price of ฿16.10 — trading 16.9% above its estimated fair value. The current ROE % is 23.53%, which is 17% below median its 10-year median of 28.39 and 282.6% above the Conglomerates industry median of 6.15. Forth PCL's overall GF Score™ is 84/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Forth PCL (BKK:FORTH), the current ROE % is 23.53% 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 Forth PCL (BKK:FORTH) Overvalued in 2026?
Based on GuruFocus' analysis, Forth PCL stock appears to be overvalued.
The current stock price of ฿16.10 is trading 16.9% above its estimated GF Value™ of ฿13.77.
GuruFocus considers Forth PCL to be Modestly Overvalued.
Key valuation signals for BKK:FORTH:
ROE %: 23.53% (17% below median its 10-year median of 28.39)
GF Value™: ฿13.77 vs. price of ฿16.10 (16.9% above fair value)
Industry Position: 282.6% above the Conglomerates median (#19 of 557)
No single metric tells the full story. See the BKK:FORTH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Corp PCL manufactures and distributes electronic equipment and project work relating to design and install telecommunication equipment. The company's segments include Electronics manufacturing service business sources, manufactures and distributes electronics parts, both work manufactured order and general equipment; Enterprise solutions business bids for project work, sources, subcontracts and install various systems for the government and private sectors; Smart service business provides online financial transaction service and sells products and service through vending machines and provides lending services. The Enterprise solutions business derives the majority of the revenue. Geographically it operates in Thailand, Netherlands, United States of America, and Others.
84GF Score
Get the complete analysis for BKK:FORTH
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:FORTH has been successfully added to your 
