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ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. ZEAL Associate's annualized net income for the quarter that ended in Feb. 2026 was 円65 Mil. ZEAL Associate's average Total Stockholders Equity over the quarter that ended in Feb. 2026 was 円313 Mil. Therefore, ZEAL Associate's annualized ROE % for the quarter that ended in Feb. 2026 was 20.73%.
The historical rank and industry rank for ZEAL Associate's ROE % or its related term are showing as below:
TSE:329A'
s ROE % Range Over the Past 10 Years
Min: 8.5 Med: 17.77 Max: 24.99
Current: 24.99
During the past 3 years, ZEAL Associate's highest ROE % was 24.99%. The lowest was 8.50%. And the median was 17.77%.
TSE:329A's ROE % is not ranked
in the Conglomerates industry.
Industry Median: 6.15
vs TSE:329A: 24.99
ZEAL Associate (TSE:329A) 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 two times the semi-annual (Feb. 2026) net income data. The Revenue data used here is two times the semi-annual (Feb. 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.
ZEAL Associate ROE % Related Terms
ZEAL Associate ROE % Historical Data
* Premium members only.
The historical data trend for ZEAL Associate'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.
ZEAL Associate ROE % Chart
ZEAL Associate Annual Data
Trend
Aug23
Aug24
Aug25
ROE %
8.50
17.77
19.86
ZEAL Associate Semi-Annual Data
Aug23
Aug24
Feb25
Aug25
Feb26
ROE %
0.00
0.00
11.43
29.38
20.73
TSE:329A vs HON, MMM: ROE % Comparison
For the Conglomerates subindustry, ZEAL Associate'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.
ZEAL Associate ROE % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, ZEAL Associate's ROE % distribution charts can be found below:
* The bar in red indicates where ZEAL Associate'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 two times the semi-annual (Feb. 2026) net income data.
ROE % is displayed in the 30-year financial page.
ZEAL Associate (TSE:329A) has a ROE % of 20.73% as of Feb. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on ZEAL Associate and its competitors. This is 17% above median its historical median of 17.77. Over the past decade, ZEAL Associate's ROE % has ranged from 8.50 to 24.99.
Is ZEAL Associate's ROE % too high?
ZEAL Associate's current ROE % of 20.73% is 17% above median its 10-year median of 17.77. Over the past 10 years, this metric has ranged from a low of 8.50 to a high of 24.99. The Conglomerates industry median ROE % is 6.15. ZEAL Associate's value of 20.73% is 237.1% above this industry median. Overall, ZEAL Associate has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does ZEAL Associate's ROE % compare to HON and MMM?
ZEAL Associate's ROE % of 20.73% can be compared against companies in the Conglomerates industry. The industry median ROE % is 6.15. ZEAL Associate's value of 20.73% is 237.1% above this benchmark. Historically, ZEAL Associate's own ROE % has ranged from 8.50 to 24.99 over the past decade. While the company's 10-year median is 17.77 vs. the industry median of 6.15, ZEAL Associate 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 561 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. ZEAL Associate's current ROE % of 20.73% is 237.1% 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 ZEAL Associate 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. ZEAL Associate's current ROE % is 20.73%, which is 17% above median its own 10-year median of 17.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZEAL Associate stock overvalued right now?
ZEAL Associate (TSE:329A) has a current ROE % of 20.73%. The current ROE % is 20.73%, which is 17% above median its 10-year median of 17.77 and 237.1% above the Conglomerates industry median of 6.15. ZEAL Associate's overall GF Score™ is 16/100 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 ZEAL Associate (TSE:329A), the current ROE % is 20.73% as of Feb. 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.
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