Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Kitex Garments's annualized net income for the quarter that ended in Mar. 2024 was ₹805 Mil. Kitex Garments's average shareholder tangible equity for the quarter that ended in Mar. 2024 was ₹9,045 Mil. Therefore, Kitex Garments's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2024 was 8.90%.
The historical rank and industry rank for Kitex Garments's Return-on-Tangible-Equity or its related term are showing as below:
NSE:KITEX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 6.39 Med: 15.08 Max: 45.05
Current: 6.42
During the past 13 years, Kitex Garments's highest Return-on-Tangible-Equity was 45.05%. The lowest was 6.39%. And the median was 15.08%.
NSE:KITEX's Return-on-Tangible-Equity is ranked better than 56.56% of 1006
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.75
vs NSE:KITEX: 6.42
Kitex Garments Return-on-Tangible-Equity Historical Data
The historical data trend for Kitex Garments's Return-on-Tangible-Equity 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 Kitex Garments's Return-on-Tangible-Equity
For the Apparel Manufacturing subindustry, Kitex Garments's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Kitex Garments's Return-on-Tangible-Equity Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Kitex Garments's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Kitex Garments's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity 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 Return-on-Tangible-Equitys can be extremely high.
Kitex Garments Return-on-Tangible-Equity Related Terms
Thank you for viewing the detailed overview of Kitex Garments's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
Kitex Garments Ltd manufactures cotton garments and fabrics. Garments account for the company's revenue and focus on infant wear such as body suits, sleepwear, rompers, burps, bibs, and training pants. Kitex manufactures the products for companies such as Carters, Gerber, Mothercare, Jockey, Children's Place, Kohl's, and Toys R. The company also owns the Little Star brand and licenses the Lamaze brand for distribution in the United States and Canada. Kitex exports almost all the garments it produces, which it manufactures in India, to the United States and Europe.
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