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Hokkaido Gas CoTSE:9534 +0.26%74 ROE % is 24.34% as of Mar. 2026, which is 169% above its 10-year median of 9.06. GuruFocus rates TSE:9534 with a GF Score™ of 74/100 and a GF Value™ of 円568.93 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 503 Utilities - Regulated companies, Hokkaido Gas Co ranks better than 72.56% on this metric.
The historical rank and industry rank for Hokkaido Gas Co's ROE % or its related term are showing as below:
TSE:9534'
s ROE % Range Over the Past 10 Years
Min: 3.29 Med: 9.06 Max: 16.29
Current: 12.63
During the past 13 years, Hokkaido Gas Co's highest ROE % was 16.29%. The lowest was 3.29%. And the median was 9.06%.
TSE:9534's ROE % is ranked better than 72.56% of 503
companies
in the Utilities - Regulated industry
Industry Median: 8.69
vs TSE:9534: 12.63
Hokkaido Gas Co (TSE:9534) 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.
Hokkaido Gas Co ROE % Related Terms
Hokkaido Gas Co ROE % Historical Data
* Premium members only.
The historical data trend for Hokkaido Gas 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 Utilities - Regulated Gas subindustry, Hokkaido Gas 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.
Hokkaido Gas Co ROE % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hokkaido Gas Co's ROE % distribution charts can be found below:
* The bar in red indicates where Hokkaido Gas 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.
Hokkaido Gas Co (TSE:9534) has a ROE % of 24.34% 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 Hokkaido Gas Co and its competitors. This is 169% above median its historical median of 9.06. Over the past decade, Hokkaido Gas Co's ROE % has ranged from 3.29 to 16.29. According to the industry distribution chart, Hokkaido Gas Co ranks #138 out of 503 companies in the Utilities - Regulated industry, placing it in the top 27.4%.
Is Hokkaido Gas Co's ROE % too high?
Hokkaido Gas Co's current ROE % of 24.34% is 169% above median its 10-year median of 9.06. Over the past 10 years, this metric has ranged from a low of 3.29 to a high of 16.29. The Utilities - Regulated industry median ROE % is 8.69. Hokkaido Gas Co's value of 24.34% is 180.1% above this industry median. Based on the distribution chart, Hokkaido Gas Co ranks #138 out of 503 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Hokkaido Gas Co has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hokkaido Gas Co's ROE % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hokkaido Gas Co ranks #138 out of 503 companies for ROE %. This puts Hokkaido Gas Co in the upper half of its industry. The industry median ROE % is 8.69. Hokkaido Gas Co's value of 24.34% is 180.1% above this benchmark. Historically, Hokkaido Gas Co's own ROE % has ranged from 3.29 to 16.29 over the past decade. While the company's 10-year median is 9.06 vs. the industry median of 8.69, Hokkaido Gas 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 Utilities - Regulated company?
The median ROE % among Utilities - Regulated companies is 8.69, based on 503 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. Hokkaido Gas Co's current ROE % of 24.34% is 180.1% 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 Hokkaido Gas Co and its competitors. For the Utilities - Regulated industry, the median ROE % is 8.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hokkaido Gas Co's current ROE % is 24.34%, which is 169% above median its own 10-year median of 9.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hokkaido Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hokkaido Gas Co (TSE:9534) is currently considered Significantly Overvalued. The stock's GF Value™ is 円568.93, compared to a current price of 円776.00 — trading 36.4% above its estimated fair value. The current ROE % is 24.34%, which is 169% above median its 10-year median of 9.06 and 180.1% above the Utilities - Regulated industry median of 8.69. Hokkaido Gas Co's overall GF Score™ is 74/100 with 2 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 Hokkaido Gas Co (TSE:9534), the current ROE % is 24.34% 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 Hokkaido Gas Co (TSE:9534) Overvalued in 2026?
Based on GuruFocus' analysis, Hokkaido Gas Co stock appears to be overvalued.
The current stock price of 円776.00 is trading 36.4% above its estimated GF Value™ of 円568.93.
GuruFocus considers Hokkaido Gas Co to be Significantly Overvalued.
Key valuation signals for TSE:9534:
ROE %: 24.34% (169% above median its 10-year median of 9.06)
GF Value™: 円568.93 vs. price of 円776.00 (36.4% above fair value)
Industry Position: 180.1% above the Utilities - Regulated median (#138 of 503)
No single metric tells the full story. See the TSE:9534 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hokkaido Gas Co Ltd is a Japan-based company operating in the utility sector. Its business activities included gas, heat supply, power supply, and sale of gas by-products. The company is also engaged in the production and sale of gas appliances and related construction work. Hokkaido serves to individual and corporate customers in areas throughout Japan including Sapporo, Otaru, Hakodate, Chitose, Ishikari, Kitahiroshima, Eniwa, Hokuto, and Kitami.
74GF Score
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