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. Japan Tobacco's annualizedNet Income for the quarter that ended in Mar. 2024 was 円629,060 Mil. Japan Tobacco's average total tangible assets for the quarter that ended in Mar. 2024 was 円4,346,163 Mil. Therefore, Japan Tobacco's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2024 was 14.47%.
The historical rank and industry rank for Japan Tobacco's Return-on-Tangible-Asset or its related term are showing as below:
TSE:2914'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 9.98 Med: 12.75 Max: 17.84
Current: 12.03
During the past 13 years, Japan Tobacco's highest Return-on-Tangible-Asset was 17.84%. The lowest was 9.98%. And the median was 12.75%.
TSE:2914's Return-on-Tangible-Asset is ranked better than 59.62% of 52
companies
in the Tobacco Products industry
Industry Median: 6.255
vs TSE:2914: 12.03
Japan Tobacco Return-on-Tangible-Asset Historical Data
The historical data trend for Japan Tobacco'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 Japan Tobacco's Return-on-Tangible-Asset
For the Tobacco subindustry, Japan Tobacco'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.
Japan Tobacco's Return-on-Tangible-Asset Distribution in the Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Japan Tobacco's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Japan Tobacco's Return-on-Tangible-Asset falls into.
Japan Tobacco Return-on-Tangible-Asset Calculation
Japan Tobacco's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:
* 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 (Mar. 2024) net income data.
Japan Tobacco (TSE:2914) Return-on-Tangible-Asset Explanation
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.
Japan Tobacco Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Japan Tobacco's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Japan Tobacco is the third-largest tobacco company globally. It owns a rich brand portfolio including Winston (non-U.S.), Camel (non-U.S.), and Mevius, and holds leading shares in many core markets including Japan, Russia, and the U.K. It has added Logic as a vaping brand and Ploom heated tobacco lines into its reduced-risk-product portfolio. The tobacco business contributes 90% of group sales and nearly all profits, with more than half generated by the overseas tobacco operations. JTI was created through the acquisition of R.J. Reynolds' non-U.S. operations in 1999 and further expanded through multiple acquisitions, of which the purchase of Gallaher in 2007 was the most notable, doubling JTI's sales. Pharmaceutical and processed food operations are the other businesses.
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