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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Air New ZealandASX:AIZ 32 Return-on-Tangible-Asset is -0.89% as of Dec. 2025. GuruFocus rates ASX:AIZ with a GF Score™ of 32/100 and a GF Value™ of A$0.52 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,012 Transportation companies, Air New Zealand ranks worse than 80.93% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Air New Zealand's annualizedNet Income for the quarter that ended in Dec. 2025 was A$-70 Mil. Air New Zealand's average total tangible assets for the quarter that ended in Dec. 2025 was A$7,856 Mil. Therefore, Air New Zealand's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -0.89%.
The historical rank and industry rank for Air New Zealand's Return-on-Tangible-Asset or its related term are showing as below:
ASX:AIZ'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -8.03 Med: 2.61 Max: 6.71
Current: -0.23
During the past 13 years, Air New Zealand's highest Return-on-Tangible-Asset was 6.71%. The lowest was -8.03%. And the median was 2.61%.
ASX:AIZ's Return-on-Tangible-Asset is ranked worse than 80.93% of 1012
companies
in the Transportation industry
Industry Median: 3.755
vs ASX:AIZ: -0.23
Air New Zealand (ASX:AIZ) 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.
Air New Zealand Return-on-Tangible-Asset Related Terms
Air New Zealand Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Air New Zealand'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.
ASX:AIZ vs DAL, UAL, LUV: Return-on-Tangible-Asset Comparison
For the Airlines subindustry, Air New Zealand'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.
Air New Zealand Return-on-Tangible-Asset vs Transportation Industry
For the Transportation industry and Industrials sector, Air New Zealand's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Air New Zealand'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 two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of -0.89% mean?
Air New Zealand (ASX:AIZ) has a Return-on-Tangible-Asset of -0.89% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Air New Zealand and its competitors. According to the industry distribution chart, Air New Zealand ranks #819 out of 1012 companies in the Transportation industry, placing it in the top 80.9%.
Is Air New Zealand's Return-on-Tangible-Asset too high?
Air New Zealand's current Return-on-Tangible-Asset is -0.89%. Based on the distribution chart, Air New Zealand ranks #819 out of 1012 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Air New Zealand has a GF Score™ of 32/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Air New Zealand's Return-on-Tangible-Asset compare to DAL and UAL?
According to the Transportation industry distribution chart, Air New Zealand ranks #819 out of 1012 companies for Return-on-Tangible-Asset. This places Air New Zealand in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.76. 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 Transportation company?
The median Return-on-Tangible-Asset among Transportation companies is 3.76, based on 1,012 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 Air New Zealand and its competitors. For the Transportation industry, the median Return-on-Tangible-Asset is 3.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air New Zealand's current Return-on-Tangible-Asset is -0.89%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air New Zealand stock overvalued right now?
Based on GuruFocus' analysis, Air New Zealand (ASX:AIZ) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.52, compared to a current price of A$0.35 — trading 32.7% below its estimated fair value. The current Return-on-Tangible-Asset is -0.89%. Air New Zealand's overall GF Score™ is 32/100 with 6 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 Air New Zealand (ASX:AIZ), the current Return-on-Tangible-Asset is -0.89% as of Dec. 2025. 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 Air New Zealand (ASX:AIZ) Overvalued in 2026?
Based on GuruFocus' analysis, Air New Zealand stock appears to be undervalued.
The current stock price of A$0.35 is trading 32.7% below its estimated GF Value™ of A$0.52.
GuruFocus considers Air New Zealand to be Possible Value Trap.
Key valuation signals for ASX:AIZ:
Return-on-Tangible-Asset: -0.89%
GF Value™: A$0.52 vs. price of A$0.35 (32.7% below fair value)
No single metric tells the full story. See the ASX:AIZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air New Zealand, majority owned by the New Zealand government, provides air passenger and cargo transport services within New Zealand as well as to and from Australia, the Southwest Pacific, Asia, North America, the United Kingdom, and South America. Air New Zealand also encompasses business units providing engineering and ground handling services. Air New Zealand dominates the local market with around 80% share, although the majority of revenue is derived from international and trans-Tasman activity.
32GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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