TSI Holdings CoTSE:3608 +0.52%84 ROE % is 2.08% as of Feb. 2026, which is 34% below its 10-year median of 3.17. GuruFocus rates TSE:3608 with a GF Score™ of 84/100 and a GF Value™ of 円1,308.79 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,023 Manufacturing - Apparel & Accessories companies, TSI Holdings Co ranks worse than 51.22% on this metric.
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 (Feb. 2026) net income data. The Revenue data used here is four times the quarterly (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.
TSI Holdings Co ROE % Related Terms
TSI Holdings Co ROE % Historical Data
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The historical data trend for TSI Holdings 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 Apparel Manufacturing subindustry, TSI Holdings 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.
TSI Holdings Co ROE % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, TSI Holdings Co's ROE % distribution charts can be found below:
* The bar in red indicates where TSI Holdings 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 (Feb. 2026) net income data.
ROE % is displayed in the 30-year financial page.
TSI Holdings Co (TSE:3608) has a ROE % of 2.08% 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 TSI Holdings Co and its competitors. This is 34% below median its historical median of 3.17. According to the industry distribution chart, TSI Holdings Co ranks #524 out of 1023 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 51.2%.
Is TSI Holdings Co's ROE % too high?
TSI Holdings Co's current ROE % of 2.08% is 34% below median its 10-year median of 3.17. The Manufacturing - Apparel & Accessories industry median ROE % is 4.04. TSI Holdings Co's value of 2.08% is 48.5% below this industry median. Based on the distribution chart, TSI Holdings Co ranks #524 out of 1023 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, TSI Holdings Co has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TSI Holdings Co's ROE % compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, TSI Holdings Co ranks #524 out of 1023 companies for ROE %. This places TSI Holdings Co in the lower half of its industry. The industry median ROE % is 4.04. TSI Holdings Co's value of 2.08% is 48.5% below this benchmark. While the company's 10-year median is 3.17 vs. the industry median of 4.04, TSI Holdings 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 Manufacturing - Apparel & Accessories company?
The median ROE % among Manufacturing - Apparel & Accessories companies is 4.04, based on 1,023 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. TSI Holdings Co's current ROE % of 2.08% is 48.5% 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 TSI Holdings Co and its competitors. For the Manufacturing - Apparel & Accessories industry, the median ROE % is 4.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSI Holdings Co's current ROE % is 2.08%, which is 34% below median its own 10-year median of 3.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSI Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, TSI Holdings Co (TSE:3608) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,308.79, compared to a current price of 円1,155.00 — trading 11.8% below its estimated fair value. The current ROE % is 2.08%, which is 34% below median its 10-year median of 3.17 and 48.5% below the Manufacturing - Apparel & Accessories industry median of 4.04. TSI Holdings Co's overall GF Score™ is 84/100 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 TSI Holdings Co (TSE:3608), the current ROE % is 2.08% 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.
Is TSI Holdings Co (TSE:3608) Overvalued in 2026?
Based on GuruFocus' analysis, TSI Holdings Co stock appears to be undervalued.
The current stock price of 円1,155.00 is trading 11.8% below its estimated GF Value™ of 円1,308.79.
GuruFocus considers TSI Holdings Co to be Modestly Undervalued.
Key valuation signals for TSE:3608:
ROE %: 2.08% (34% below median its 10-year median of 3.17)
GF Value™: 円1,308.79 vs. price of 円1,155.00 (11.8% below fair value)
Industry Position: 48.5% below the Manufacturing - Apparel & Accessories median (#524 of 1023)
No single metric tells the full story. See the TSE:3608 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSI Holdings Co Ltd is an apparel manufacturer that owns and licenses dozens of brands that it sells through department stores, other retail stores and shopping centers, and e-commerce channels. The majority of the company's sales are in Japan, with the remainder coming from China and other parts of Asia. TSI's highest-selling brands, which collectively account for more than half of the company's total revenue, include nano, Natural Beauty Basic, Margaret Howell, Pearly Gates, Rose Bud, Stussy, Proportion Body Dressing, Free's Mart, Human Woman, and Callaway Apparel.
84GF Score
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