Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Taiheiyo Cement's annualizedNet Income for the quarter that ended in Dec. 2023 was 円60,716 Mil. Taiheiyo Cement's average total tangible assets for the quarter that ended in Dec. 2023 was 円1,309,259 Mil. Therefore, Taiheiyo Cement's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 4.64%.
The historical rank and industry rank for Taiheiyo Cement's Return-on-Tangible-Asset or its related term are showing as below:
TSE:5233'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -2.88 Med: 3.91 Max: 4.89
Current: 3.39
During the past 13 years, Taiheiyo Cement's highest Return-on-Tangible-Asset was 4.89%. The lowest was -2.88%. And the median was 3.91%.
TSE:5233's Return-on-Tangible-Asset is ranked better than 50.26% of 388
companies
in the Building Materials industry
Industry Median: 3.375
vs TSE:5233: 3.39
Taiheiyo Cement Return-on-Tangible-Asset Historical Data
The historical data trend for Taiheiyo Cement's Return-on-Tangible-Asset 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.
Competitive Comparison of Taiheiyo Cement's Return-on-Tangible-Asset
For the Building Materials subindustry, Taiheiyo Cement's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
Taiheiyo Cement's Return-on-Tangible-Asset Distribution in the Building Materials Industry
For the Building Materials industry and Basic Materials sector, Taiheiyo Cement's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Taiheiyo Cement's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Taiheiyo Cement Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Taiheiyo Cement's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Taiheiyo Cement Corp manufactures and sells construction materials to the building, construction, and infrastructure industries. The company also generates biomass power. The firm organizes itself in six segments based on function and location: Cement, Mineral Resources, Environmental, Construction Materials, Ceramics, and Electronics. The Cement segment, which generates the majority of revenue, sells cement, ready-mix concrete. The Mineral Resources segment extracts and sells limestone and construction materials. The Environmental segment turns waste into power and cement and sells desulfurization products to coal power plants. The majority of revenue is generated in Asia and the United States.
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