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Forth Smart Service PCLBKK:FSMART -2.53%68 ROE % is 29.94% as of Mar. 2026, which is 21% below its 10-year median of 37.82. GuruFocus rates BKK:FSMART with a GF Score™ of 68/100 and a GF Value™ of ฿6.73 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 347 Telecommunication Services companies, Forth Smart Service PCL ranks better than 91.07% on this metric.
The historical rank and industry rank for Forth Smart Service PCL's ROE % or its related term are showing as below:
BKK:FSMART'
s ROE % Range Over the Past 10 Years
Min: 26.05 Med: 37.82 Max: 45.36
Current: 34.44
During the past 13 years, Forth Smart Service PCL's highest ROE % was 45.36%. The lowest was 26.05%. And the median was 37.82%.
BKK:FSMART's ROE % is ranked better than 91.07% of 347
companies
in the Telecommunication Services industry
Industry Median: 7.35
vs BKK:FSMART: 34.44
Forth Smart Service PCL (BKK:FSMART) 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.
* 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 Telecom Services subindustry, Forth Smart Service 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 Smart Service PCL ROE % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forth Smart Service PCL's ROE % distribution charts can be found below:
* The bar in red indicates where Forth Smart Service 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 Smart Service PCL (BKK:FSMART) has a ROE % of 29.94% 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 Smart Service PCL and its competitors. This is 21% below median its historical median of 37.82. Over the past decade, Forth Smart Service PCL's ROE % has ranged from 26.05 to 45.36. According to the industry distribution chart, Forth Smart Service PCL ranks #31 out of 347 companies in the Telecommunication Services industry, placing it in the top 8.9%.
Is Forth Smart Service PCL's ROE % too high?
Forth Smart Service PCL's current ROE % of 29.94% is 21% below median its 10-year median of 37.82. Over the past 10 years, this metric has ranged from a low of 26.05 to a high of 45.36. The Telecommunication Services industry median ROE % is 7.35. Forth Smart Service PCL's value of 29.94% is 307.3% above this industry median. Based on the distribution chart, Forth Smart Service PCL ranks #31 out of 347 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Forth Smart Service PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth Smart Service PCL's ROE % compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forth Smart Service PCL ranks #31 out of 347 companies for ROE %. This places Forth Smart Service PCL in the top 9% of its industry — outperforming the majority of peers. The industry median ROE % is 7.35. Forth Smart Service PCL's value of 29.94% is 307.3% above this benchmark. Historically, Forth Smart Service PCL's own ROE % has ranged from 26.05 to 45.36 over the past decade. While the company's 10-year median is 37.82 vs. the industry median of 7.35, Forth Smart Service 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 Telecommunication Services company?
The median ROE % among Telecommunication Services companies is 7.35, based on 347 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 Smart Service PCL's current ROE % of 29.94% is 307.3% 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 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 Smart Service PCL and its competitors. For the Telecommunication Services industry, the median ROE % is 7.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth Smart Service PCL's current ROE % is 29.94%, which is 21% below median its own 10-year median of 37.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth Smart Service PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth Smart Service PCL (BKK:FSMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.73, compared to a current price of ฿7.70 — trading 14.4% above its estimated fair value. The current ROE % is 29.94%, which is 21% below median its 10-year median of 37.82 and 307.3% above the Telecommunication Services industry median of 7.35. Forth Smart Service PCL's overall GF Score™ is 68/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Forth Smart Service PCL (BKK:FSMART), the current ROE % is 29.94% 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 Smart Service PCL (BKK:FSMART) Overvalued in 2026?
Based on GuruFocus' analysis, Forth Smart Service PCL stock appears to be overvalued.
The current stock price of ฿7.70 is trading 14.4% above its estimated GF Value™ of ฿6.73.
GuruFocus considers Forth Smart Service PCL to be Modestly Overvalued.
Key valuation signals for BKK:FSMART:
ROE %: 29.94% (21% below median its 10-year median of 37.82)
GF Value™: ฿6.73 vs. price of ฿7.70 (14.4% above fair value)
Industry Position: 307.3% above the Telecommunication Services median (#31 of 347)
No single metric tells the full story. See the BKK:FSMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Smart Service PCL is a Thailand-based company engaged in providing prepaid mobile top-up services, money transfer services, and online payment receipt services through electronic top-up machines. The company also provides advertising services through its online top-up machine network. It operates through two reportable segments: Top-up Machine, which provides mobile top-up, payment, and related services through automated machines; and Lending, which provides personal loans and nano finance services. It generates the majority of its revenue from the Top-up machine segment.
68GF Score
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