Aqua MetalsAQMS -1.82%21 Return-on-Tangible-Asset is -86.22% as of Mar. 2026. GuruFocus rates AQMS with a GF Score™ of 21/100. The stock has 3 warning signs investors should review. Among 247 Waste Management companies, Aqua Metals ranks worse than 96.76% on this metric.
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. Aqua Metals's annualizedNet Income for the quarter that ended in Mar. 2026 was $-15.82 Mil. Aqua Metals's average total tangible assets for the quarter that ended in Mar. 2026 was $18.34 Mil. Therefore, Aqua Metals's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -86.22%.
The historical rank and industry rank for Aqua Metals's Return-on-Tangible-Asset or its related term are showing as below:
AQMS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -123.26 Med: -55.31 Max: -23.25
Current: -123.26
During the past 12 years, Aqua Metals's highest Return-on-Tangible-Asset was -23.25%. The lowest was -123.26%. And the median was -55.31%.
AQMS's Return-on-Tangible-Asset is ranked worse than 96.76% of 247
companies
in the Waste Management industry
Industry Median: 1.92
vs AQMS: -123.26
Aqua Metals (NAS:AQMS) 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.
Aqua Metals Return-on-Tangible-Asset Related Terms
Aqua Metals Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Aqua Metals'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.
AQMS vs AWX, OCLN, CDTG: Return-on-Tangible-Asset Comparison
For the Waste Management subindustry, Aqua Metals'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.
Aqua Metals Return-on-Tangible-Asset vs Waste Management Industry
For the Waste Management industry and Industrials sector, Aqua Metals's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Aqua Metals'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 (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -86.22% mean?
Aqua Metals (AQMS) has a Return-on-Tangible-Asset of -86.22% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Aqua Metals and its competitors. According to the industry distribution chart, Aqua Metals ranks #239 out of 247 companies in the Waste Management industry, placing it in the top 96.8%.
Is Aqua Metals' Return-on-Tangible-Asset too high?
Aqua Metals' current Return-on-Tangible-Asset is -86.22%. Based on the distribution chart, Aqua Metals ranks #239 out of 247 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Aqua Metals has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Aqua Metals' Return-on-Tangible-Asset compare to AWX and OCLN?
According to the Waste Management industry distribution chart, Aqua Metals ranks #239 out of 247 companies for Return-on-Tangible-Asset. This places Aqua Metals in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.92. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Waste Management company?
The median Return-on-Tangible-Asset among Waste Management companies is 1.92, based on 247 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Aqua Metals and its competitors. For the Waste Management industry, the median Return-on-Tangible-Asset is 1.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aqua Metals's current Return-on-Tangible-Asset is -86.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aqua Metals stock overvalued right now?
Aqua Metals (AQMS) has a current Return-on-Tangible-Asset of -86.22%. The current Return-on-Tangible-Asset is -86.22%. Aqua Metals' overall GF Score™ is 21/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Aqua Metals (AQMS), the current Return-on-Tangible-Asset is -86.22% 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.
Aqua Metals Inc is developing and seeking to commercialize proprietary recycling and refining technologies for the recovery of critical minerals and metals. Its patented and patent-pending AquaRefining process is an electro-hydrometallurgical method designed to recover high-purity materials from battery and other metal-bearing feedstocks using a closed-loop system powered by electricity. Its idea is to reduce CAPEX and OPEX costs, reduce emissions, hazardous waste, and reliance on conventional smelting and chemical-intensive refining processes. It has one operating segment: sustainable metals recycling. It focused on the development and commercialization of AquaRefining technology for the clean and efficient recovery of valuable metals from lead-acid and lithium-ion batteries.
21GF Score
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