CeresTSE:3696 +1.03%86 ROE % is 3.19% as of Dec. 2025, which is 69% below its 10-year median of 10.34. GuruFocus rates TSE:3696 with a GF Score™ of 86/100 and a GF Value™ of 円2,175.55 (Fairly Valued). The stock has 4 warning signs investors should review. Among 562 Conglomerates companies, Ceres ranks better than 94.66% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Ceres's annualized net income for the quarter that ended in Dec. 2025 was 円423 Mil. Ceres's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was 円13,247 Mil. Therefore, Ceres's annualized ROE % for the quarter that ended in Dec. 2025 was 3.19%.
The historical rank and industry rank for Ceres's ROE % or its related term are showing as below:
TSE:3696'
s ROE % Range Over the Past 10 Years
Min: -5.41 Med: 10.34 Max: 35.6
Current: 28.55
During the past 13 years, Ceres's highest ROE % was 35.60%. The lowest was -5.41%. And the median was 10.34%.
TSE:3696's ROE % is ranked better than 94.66% of 562
companies
in the Conglomerates industry
Industry Median: 6.28
vs TSE:3696: 28.55
Ceres (TSE:3696) 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 (Dec. 2025) net income data. The Revenue data used here is four times the quarterly (Dec. 2025) 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.
Ceres ROE % Related Terms
Ceres ROE % Historical Data
* Premium members only.
The historical data trend for Ceres'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 Conglomerates subindustry, Ceres'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.
Ceres ROE % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Ceres's ROE % distribution charts can be found below:
* The bar in red indicates where Ceres'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 (Dec. 2025) net income data.
ROE % is displayed in the 30-year financial page.
Ceres (TSE:3696) has a ROE % of 3.19% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Ceres and its competitors. This is 69% below median its historical median of 10.34. According to the industry distribution chart, Ceres ranks #30 out of 562 companies in the Conglomerates industry, placing it in the top 5.3%.
Is Ceres' ROE % too high?
Ceres' current ROE % of 3.19% is 69% below median its 10-year median of 10.34. The Conglomerates industry median ROE % is 6.28. Ceres' value of 3.19% is 49.2% below this industry median. Based on the distribution chart, Ceres ranks #30 out of 562 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Ceres has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ceres' ROE % compare to HON and MMM?
According to the Conglomerates industry distribution chart, Ceres ranks #30 out of 562 companies for ROE %. This places Ceres in the top 5% of its industry — outperforming the majority of peers. The industry median ROE % is 6.28. Ceres' value of 3.19% is 49.2% below this benchmark. While the company's 10-year median is 10.34 vs. the industry median of 6.28, Ceres 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 Conglomerates company?
The median ROE % among Conglomerates companies is 6.28, based on 562 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. Ceres's current ROE % of 3.19% is 49.2% 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 Ceres and its competitors. For the Conglomerates industry, the median ROE % is 6.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ceres's current ROE % is 3.19%, which is 69% below median its own 10-year median of 10.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ceres stock overvalued right now?
Based on GuruFocus' analysis, Ceres (TSE:3696) is currently considered Fairly Valued. The stock's GF Value™ is 円2,175.55, compared to a current price of 円2,156.00 — trading 0.9% below its estimated fair value. The current ROE % is 3.19%, which is 69% below median its 10-year median of 10.34 and 49.2% below the Conglomerates industry median of 6.28. Ceres' overall GF Score™ is 86/100 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 Ceres (TSE:3696), the current ROE % is 3.19% as of Dec. 2025. 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 Ceres (TSE:3696) Overvalued in 2026?
Based on GuruFocus' analysis, Ceres stock appears to be undervalued.
The current stock price of 円2,156.00 is trading 0.9% below its estimated GF Value™ of 円2,175.55.
GuruFocus considers Ceres to be Fairly Valued.
Key valuation signals for TSE:3696:
ROE %: 3.19% (69% below median its 10-year median of 10.34)
GF Value™: 円2,175.55 vs. price of 円2,156.00 (0.9% below fair value)
Industry Position: 49.2% below the Conglomerates median (#30 of 562)
No single metric tells the full story. See the TSE:3696 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ceres Inc is engaged in the mobile service business and the financial service business. The mobile segment includes Points (Moppy, AD.TRACK, etc.), D2C (planning, manufacturing, and sales of cosmetics, health foods, etc.), and DX (DX support at Yumemi, etc.); the financial service business includes blockchain, online factoring, investment incubation business.
86GF Score
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