CodanASX:CDA -1.58%85 Return-on-Tangible-Asset is 24.91% as of Dec. 2025, which is 5% below its 10-year median of 26.13. GuruFocus rates ASX:CDA with a GF Score™ of 85/100 and a GF Value™ of A$20.89 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,497 Hardware companies, Codan ranks better than 97.8% 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. Codan's annualizedNet Income for the quarter that ended in Dec. 2025 was A$142.3 Mil. Codan's average total tangible assets for the quarter that ended in Dec. 2025 was A$571.5 Mil. Therefore, Codan's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 24.91%.
The historical rank and industry rank for Codan's Return-on-Tangible-Asset or its related term are showing as below:
ASX:CDA'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 12.69 Med: 26.13 Max: 33.4
Current: 22.92
During the past 13 years, Codan's highest Return-on-Tangible-Asset was 33.40%. The lowest was 12.69%. And the median was 26.13%.
ASX:CDA's Return-on-Tangible-Asset is ranked better than 97.8% of 2497
companies
in the Hardware industry
Industry Median: 2.43
vs ASX:CDA: 22.92
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.
Codan Return-on-Tangible-Asset Related Terms
Codan Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Codan'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:CDA vs COHR, KEYS, GRMN: Return-on-Tangible-Asset Comparison
For the Scientific & Technical Instruments subindustry, Codan'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.
Codan Return-on-Tangible-Asset vs Hardware Industry
For the Hardware industry and Technology sector, Codan's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Codan'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 24.91% mean?
Codan (ASX:CDA) has a Return-on-Tangible-Asset of 24.91% 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 Codan and its competitors. This is near median its historical median of 26.13. Over the past decade, Codan's Return-on-Tangible-Asset has ranged from 12.69 to 33.40. According to the industry distribution chart, Codan ranks #55 out of 2497 companies in the Hardware industry, placing it in the top 2.2%.
Is Codan's Return-on-Tangible-Asset too high?
Codan's current Return-on-Tangible-Asset of 24.91% is near median its 10-year median of 26.13. Over the past 10 years, this metric has ranged from a low of 12.69 to a high of 33.40. The Hardware industry median Return-on-Tangible-Asset is 2.43. Codan's value of 24.91% is 925.1% above this industry median. Based on the distribution chart, Codan ranks #55 out of 2497 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Codan has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Codan's Return-on-Tangible-Asset compare to COHR and KEYS?
According to the Hardware industry distribution chart, Codan ranks #55 out of 2497 companies for Return-on-Tangible-Asset. This places Codan in the top 2% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.43. Codan's value of 24.91% is 925.1% above this benchmark. Historically, Codan's own Return-on-Tangible-Asset has ranged from 12.69 to 33.40 over the past decade. While the company's 10-year median is 26.13 vs. the industry median of 2.43, Codan has consistently been above the industry average. 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 Hardware company?
The median Return-on-Tangible-Asset among Hardware companies is 2.43, based on 2,497 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. Codan's current Return-on-Tangible-Asset of 24.91% is 925.1% above the industry median. 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 Codan and its competitors. For the Hardware industry, the median Return-on-Tangible-Asset is 2.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Codan's current Return-on-Tangible-Asset is 24.91%, which is near median its own 10-year median of 26.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Codan stock overvalued right now?
Based on GuruFocus' analysis, Codan (ASX:CDA) is currently considered Significantly Overvalued. The stock's GF Value™ is A$20.89, compared to a current price of A$43.00 — trading 105.8% above its estimated fair value. The current Return-on-Tangible-Asset is 24.91%, which is near median its 10-year median of 26.13 and 925.1% above the Hardware industry median of 2.43. Codan's overall GF Score™ is 85/100 with 7 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 Codan (ASX:CDA), the current Return-on-Tangible-Asset is 24.91% 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 Codan (ASX:CDA) Overvalued in 2026?
Based on GuruFocus' analysis, Codan stock appears to be overvalued.
The current stock price of A$43.00 is trading 105.8% above its estimated GF Value™ of A$20.89.
GuruFocus considers Codan to be Significantly Overvalued.
Key valuation signals for ASX:CDA:
Return-on-Tangible-Asset: 24.91% (near median its 10-year median of 26.13)
GF Value™: A$20.89 vs. price of A$43.00 (105.8% above fair value)
Industry Position: 925.1% above the Hardware median (#55 of 2497)
No single metric tells the full story. See the ASX:CDA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Codan designs and sells communications products and metal detection devices. Its global customer base includes military, security, emergency responders, broadcasters, government, humanitarian organizations, utilities, and mining. Earnings are skewed to its communications business. This business provides command center technology used to coordinate public transport, emergency services, utilities, and broadcasting. Codan also produces lightweight radios suitable for attaching to drones. In metal detection, it produces hand-held metal detection devices, sold to organizations and individuals such as gold prospectors and hobbyist treasure hunters. Customers also use this equipment for safety and security. About half of group revenue comes from North America, and one-fourth is from Europe.
85GF Score
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