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First Brothers CoTSE:3454 +0.08%65 ROE % is 28.71% as of May. 2026, which is 103% above its 10-year median of 14.12. GuruFocus rates TSE:3454 with a GF Score™ of 65/100 and a GF Value™ of 円1,541.44 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,610 Asset Management companies, First Brothers Co ranks better than 74.97% on this metric.
The historical rank and industry rank for First Brothers Co's ROE % or its related term are showing as below:
TSE:3454'
s ROE % Range Over the Past 10 Years
Min: 5.59 Med: 14.12 Max: 25.72
Current: 15.21
During the past 13 years, First Brothers Co's highest ROE % was 25.72%. The lowest was 5.59%. And the median was 14.12%.
TSE:3454's ROE % is ranked better than 74.97% of 1610
companies
in the Asset Management industry
Industry Median: 6.645
vs TSE:3454: 15.21
First Brothers Co (TSE:3454) 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 (May. 2026) net income data. The Revenue data used here is four times the quarterly (May. 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.
First Brothers Co ROE % Related Terms
First Brothers Co ROE % Historical Data
* Premium members only.
The historical data trend for First Brothers Co'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 Asset Management subindustry, First Brothers Co'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.
First Brothers Co ROE % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, First Brothers Co's ROE % distribution charts can be found below:
* The bar in red indicates where First Brothers Co'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 (May. 2026) net income data.
ROE % is displayed in the 30-year financial page.
First Brothers Co (TSE:3454) has a ROE % of 28.71% as of May. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on First Brothers Co and its competitors. This is 103% above median its historical median of 14.12. Over the past decade, First Brothers Co's ROE % has ranged from 5.59 to 25.72. According to the industry distribution chart, First Brothers Co ranks #403 out of 1610 companies in the Asset Management industry, placing it in the top 25%.
Is First Brothers Co's ROE % too high?
First Brothers Co's current ROE % of 28.71% is 103% above median its 10-year median of 14.12. Over the past 10 years, this metric has ranged from a low of 5.59 to a high of 25.72. The Asset Management industry median ROE % is 6.65. First Brothers Co's value of 28.71% is 332.1% above this industry median. Based on the distribution chart, First Brothers Co ranks #403 out of 1610 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, First Brothers Co has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does First Brothers Co's ROE % compare to BLK and BX?
According to the Asset Management industry distribution chart, First Brothers Co ranks #403 out of 1610 companies for ROE %. This places First Brothers Co in the top 25% of its industry — outperforming the majority of peers. The industry median ROE % is 6.65. First Brothers Co's value of 28.71% is 332.1% above this benchmark. Historically, First Brothers Co's own ROE % has ranged from 5.59 to 25.72 over the past decade. While the company's 10-year median is 14.12 vs. the industry median of 6.65, First Brothers Co 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 an Asset Management company?
The median ROE % among Asset Management companies is 6.65, based on 1,610 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. First Brothers Co's current ROE % of 28.71% is 332.1% 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 First Brothers Co and its competitors. For the Asset Management industry, the median ROE % is 6.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Brothers Co's current ROE % is 28.71%, which is 103% above median its own 10-year median of 14.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Brothers Co stock overvalued right now?
Based on GuruFocus' analysis, First Brothers Co (TSE:3454) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,541.44, compared to a current price of 円1,277.00 — trading 17.2% below its estimated fair value. The current ROE % is 28.71%, which is 103% above median its 10-year median of 14.12 and 332.1% above the Asset Management industry median of 6.65. First Brothers Co's overall GF Score™ is 65/100 with 4 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 First Brothers Co (TSE:3454), the current ROE % is 28.71% as of May. 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 First Brothers Co (TSE:3454) Overvalued in 2026?
Based on GuruFocus' analysis, First Brothers Co stock appears to be undervalued.
The current stock price of 円1,277.00 is trading 17.2% below its estimated GF Value™ of 円1,541.44.
GuruFocus considers First Brothers Co to be Modestly Undervalued.
Key valuation signals for TSE:3454:
ROE %: 28.71% (103% above median its 10-year median of 14.12)
GF Value™: 円1,541.44 vs. price of 円1,277.00 (17.2% below fair value)
Industry Position: 332.1% above the Asset Management median (#403 of 1610)
No single metric tells the full story. See the TSE:3454 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Brothers Co Ltd engages in the investment management business. It operates through the Investment Management, Investment Banking, and Facility Management divisions. The Investment Management division invests in real estate or real estate trust beneficiary rights by performing asset management in a private fund format. The Investment Banking division provides various advisory services for real estate and other investments. The Facility Management operates accommodation facilities to provide hospitality services from a medium-to long-term perspective.
65GF Score
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