ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Air Water's annualized net income for the quarter that ended in Sep. 2025 was 円-127,616 Mil. Air Water's average Total Stockholders Equity over the quarter that ended in Sep. 2025 was 円479,206 Mil. Therefore, Air Water's annualized ROE % for the quarter that ended in Sep. 2025 was -26.63%.
The historical rank and industry rank for Air Water's ROE % or its related term are showing as below:
TSE:4088'
s ROE % Range Over the Past 10 Years
Min: 2.16 Med: 9.71 Max: 11.48
Current: 2.16
During the past 13 years, Air Water's highest ROE % was 11.48%. The lowest was 2.16%. And the median was 9.71%.
TSE:4088's ROE % is ranked worse than 65.2% of 1586
companies
in the Chemicals industry
Industry Median: 5.185
vs TSE:4088: 2.16
Air Water (TSE:4088) 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 (Sep. 2025) net income data. The Revenue data used here is four times the quarterly (Sep. 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.
Air Water ROE % Related Terms
Air Water ROE % Historical Data
* Premium members only.
The historical data trend for Air Water'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 Specialty Chemicals subindustry, Air Water'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.
Air Water ROE % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Water's ROE % distribution charts can be found below:
* The bar in red indicates where Air Water'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 (Sep. 2025) net income data.
ROE % is displayed in the 30-year financial page.
Air Water (TSE:4088) has a ROE % of -26.63% as of Sep. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Air Water and its competitors. Over the past decade, Air Water's ROE % has ranged from 2.16 to 11.48. According to the industry distribution chart, Air Water ranks #1034 out of 1586 companies in the Chemicals industry, placing it in the top 65.2%.
Is Air Water's ROE % too high?
Air Water's current ROE % is -26.63%. Over the past 10 years, this metric has ranged from a low of 2.16 to a high of 11.48. Based on the distribution chart, Air Water ranks #1034 out of 1586 companies in the Chemicals industry, which is below the industry midpoint. Overall, Air Water has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Air Water's ROE % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Air Water ranks #1034 out of 1586 companies for ROE %. This places Air Water in the lower half of its industry. The industry median ROE % is 5.19. Historically, Air Water's own ROE % has ranged from 2.16 to 11.48 over the past decade. 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 Chemicals company?
The median ROE % among Chemicals companies is 5.19, based on 1,586 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. 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 Air Water and its competitors. For the Chemicals industry, the median ROE % is 5.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Water's current ROE % is -26.63%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Water stock overvalued right now?
Based on GuruFocus' analysis, Air Water (TSE:4088) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,209.90, compared to a current price of 円2,778.00 — trading 25.7% above its estimated fair value. The current ROE % is -26.63%. Air Water's overall GF Score™ is 83/100 with 14 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 Air Water (TSE:4088), the current ROE % is -26.63% as of Sep. 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 Air Water (TSE:4088) Overvalued in 2026?
Based on GuruFocus' analysis, Air Water stock appears to be overvalued.
The current stock price of 円2,778.00 is trading 25.7% above its estimated GF Value™ of 円2,209.90.
GuruFocus considers Air Water to be Modestly Overvalued.
Key valuation signals for TSE:4088:
ROE %: -26.63%
GF Value™: 円2,209.90 vs. price of 円2,778.00 (25.7% above fair value)
No single metric tells the full story. See the TSE:4088 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air Water Inc is a diversified conglomerate engaged in the supply of industrial gases and various other businesses and services. The company operates through five segments. The Agri & Foods segment covers the processing and distribution of fruits and vegetables, frozen foods, meat products, and contract manufacturing of beverages. The Digital & Industry segment focuses on industrial gases, electrical, and functional materials. The Energy Solutions segment deals with LP gas, kerosene, and related equipment. The Health & Safety segment provides medical gases, dental and protective materials, hospital equipment, and home medical care services. The Other Businesses segment includes logistics, salt production, overseas industrial gas operations, biomass power, and high-output UPS solutions.
83GF Score
Get the complete analysis for TSE:4088
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:4088 has been successfully added to your 
