Ichikawa CoTSE:3513 +1.30%56 ROE % is 2.05% as of Mar. 2026, which is 16% below its 10-year median of 2.43. GuruFocus rates TSE:3513 with a GF Score™ of 56/100 and a GF Value™ of 円1,956.07 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 280 Forest Products companies, Ichikawa Co ranks better than 66.43% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Ichikawa Co's annualized net income for the quarter that ended in Mar. 2026 was 円488 Mil. Ichikawa Co's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was 円23,839 Mil. Therefore, Ichikawa Co's annualized ROE % for the quarter that ended in Mar. 2026 was 2.05%.
The historical rank and industry rank for Ichikawa Co's ROE % or its related term are showing as below:
TSE:3513'
s ROE % Range Over the Past 10 Years
Min: 1.32 Med: 2.43 Max: 5.08
Current: 5.08
During the past 13 years, Ichikawa Co's highest ROE % was 5.08%. The lowest was 1.32%. And the median was 2.43%.
TSE:3513's ROE % is ranked better than 66.43% of 280
companies
in the Forest Products industry
Industry Median: 2.07
vs TSE:3513: 5.08
Ichikawa Co (TSE:3513) 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.
Ichikawa Co ROE % Related Terms
Ichikawa Co ROE % Historical Data
* Premium members only.
The historical data trend for Ichikawa 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 Paper & Paper Products subindustry, Ichikawa 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.
Ichikawa Co ROE % vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Ichikawa Co's ROE % distribution charts can be found below:
* The bar in red indicates where Ichikawa 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 (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Ichikawa Co (TSE:3513) has a ROE % of 2.05% 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 Ichikawa Co and its competitors. This is 16% below median its historical median of 2.43. Over the past decade, Ichikawa Co's ROE % has ranged from 1.32 to 5.08. According to the industry distribution chart, Ichikawa Co ranks #94 out of 280 companies in the Forest Products industry, placing it in the top 33.6%.
Is Ichikawa Co's ROE % too high?
Ichikawa Co's current ROE % of 2.05% is 16% below median its 10-year median of 2.43. Over the past 10 years, this metric has ranged from a low of 1.32 to a high of 5.08. The Forest Products industry median ROE % is 2.07. Ichikawa Co's value of 2.05% is 1% below this industry median. Based on the distribution chart, Ichikawa Co ranks #94 out of 280 companies in the Forest Products industry, which is above the industry midpoint. Overall, Ichikawa Co has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ichikawa Co's ROE % compare to competitors?
According to the Forest Products industry distribution chart, Ichikawa Co ranks #94 out of 280 companies for ROE %. This puts Ichikawa Co in the upper half of its industry. The industry median ROE % is 2.07. Ichikawa Co's value of 2.05% is 1% below this benchmark. Historically, Ichikawa Co's own ROE % has ranged from 1.32 to 5.08 over the past decade. While the company's 10-year median is 2.43 vs. the industry median of 2.07, Ichikawa Co has consistently been below 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 Forest Products company?
The median ROE % among Forest Products companies is 2.07, based on 280 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. Ichikawa Co's current ROE % of 2.05% is 1% below 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 Ichikawa Co and its competitors. For the Forest Products industry, the median ROE % is 2.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ichikawa Co's current ROE % is 2.05%, which is 16% below median its own 10-year median of 2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ichikawa Co stock overvalued right now?
Based on GuruFocus' analysis, Ichikawa Co (TSE:3513) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,956.07, compared to a current price of 円3,110.00 — trading 59% above its estimated fair value. The current ROE % is 2.05%, which is 16% below median its 10-year median of 2.43 and 1% below the Forest Products industry median of 2.07. Ichikawa Co's overall GF Score™ is 56/100 with 1 warning sign 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 Ichikawa Co (TSE:3513), the current ROE % is 2.05% 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 Ichikawa Co (TSE:3513) Overvalued in 2026?
Based on GuruFocus' analysis, Ichikawa Co stock appears to be overvalued.
The current stock price of 円3,110.00 is trading 59% above its estimated GF Value™ of 円1,956.07.
GuruFocus considers Ichikawa Co to be Significantly Overvalued.
Key valuation signals for TSE:3513:
ROE %: 2.05% (16% below median its 10-year median of 2.43)
GF Value™: 円1,956.07 vs. price of 円3,110.00 (59% above fair value)
Industry Position: 1% below the Forest Products median (#94 of 280)
No single metric tells the full story. See the TSE:3513 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ichikawa Co Ltd is engaged in the manufacture and distribution of papermaking felts, papermaking belts, felts for slate and industrial felts in Japan. It offers papermaking press felts and belts, and shoe press and transfer belts; industrial products, such as heat-resistant conveyance equipment and cushioning material for use in the manufacture of car bodies, aluminum parts, and others.
56GF Score
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