CogstateASX:CGS +1.11%77 Return-on-Tangible-Asset is 16.37% as of Dec. 2025, which is 62% above its 10-year median of 10.10. GuruFocus rates ASX:CGS with a GF Score™ of 77/100 and a GF Value™ of A$2.09 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 681 Healthcare Providers & Services companies, Cogstate ranks better than 94.86% 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. Cogstate's annualizedNet Income for the quarter that ended in Dec. 2025 was A$13.65 Mil. Cogstate's average total tangible assets for the quarter that ended in Dec. 2025 was A$83.41 Mil. Therefore, Cogstate's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 16.37%.
The historical rank and industry rank for Cogstate's Return-on-Tangible-Asset or its related term are showing as below:
ASX:CGS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -17.09 Med: 10.1 Max: 20.21
Current: 19.95
During the past 13 years, Cogstate's highest Return-on-Tangible-Asset was 20.21%. The lowest was -17.09%. And the median was 10.10%.
ASX:CGS's Return-on-Tangible-Asset is ranked better than 94.86% of 681
companies
in the Healthcare Providers & Services industry
Industry Median: 2.43
vs ASX:CGS: 19.95
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.
Cogstate Return-on-Tangible-Asset Related Terms
Cogstate Return-on-Tangible-Asset Historical Data
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The historical data trend for Cogstate'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:CGS vs VEEV, BTSG, TEM: Return-on-Tangible-Asset Comparison
For the Health Information Services subindustry, Cogstate'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.
Cogstate Return-on-Tangible-Asset vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Cogstate's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Cogstate'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 16.37% mean?
Cogstate (ASX:CGS) has a Return-on-Tangible-Asset of 16.37% 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 Cogstate and its competitors. This is 62% above median its historical median of 10.10. According to the industry distribution chart, Cogstate ranks #35 out of 681 companies in the Healthcare Providers & Services industry, placing it in the top 5.1%.
Is Cogstate's Return-on-Tangible-Asset too high?
Cogstate's current Return-on-Tangible-Asset of 16.37% is 62% above median its 10-year median of 10.10. The Healthcare Providers & Services industry median Return-on-Tangible-Asset is 2.43. Cogstate's value of 16.37% is 573.7% above this industry median. Based on the distribution chart, Cogstate ranks #35 out of 681 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Cogstate has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cogstate's Return-on-Tangible-Asset compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Cogstate ranks #35 out of 681 companies for Return-on-Tangible-Asset. This places Cogstate in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.43. Cogstate's value of 16.37% is 573.7% above this benchmark. While the company's 10-year median is 10.10 vs. the industry median of 2.43, Cogstate 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 Healthcare Providers & Services company?
The median Return-on-Tangible-Asset among Healthcare Providers & Services companies is 2.43, based on 681 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. Cogstate's current Return-on-Tangible-Asset of 16.37% is 573.7% 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 Cogstate and its competitors. For the Healthcare Providers & Services 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. Cogstate's current Return-on-Tangible-Asset is 16.37%, which is 62% above median its own 10-year median of 10.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cogstate stock overvalued right now?
Based on GuruFocus' analysis, Cogstate (ASX:CGS) is currently considered Significantly Overvalued. The stock's GF Value™ is A$2.09, compared to a current price of A$2.74 — trading 31.1% above its estimated fair value. The current Return-on-Tangible-Asset is 16.37%, which is 62% above median its 10-year median of 10.10 and 573.7% above the Healthcare Providers & Services industry median of 2.43. Cogstate's overall GF Score™ is 77/100 with 4 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 Cogstate (ASX:CGS), the current Return-on-Tangible-Asset is 16.37% 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 Cogstate (ASX:CGS) Overvalued in 2026?
Based on GuruFocus' analysis, Cogstate stock appears to be overvalued.
The current stock price of A$2.74 is trading 31.1% above its estimated GF Value™ of A$2.09.
GuruFocus considers Cogstate to be Significantly Overvalued.
Key valuation signals for ASX:CGS:
Return-on-Tangible-Asset: 16.37% (62% above median its 10-year median of 10.10)
GF Value™: A$2.09 vs. price of A$2.74 (31.1% above fair value)
Industry Position: 573.7% above the Healthcare Providers & Services median (#35 of 681)
No single metric tells the full story. See the ASX:CGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cogstate Ltd is a cognitive science company. The principal activity of the group is the Creation, validation, and commercialisation of digital brain health assessments; and the Design and provision of quality assurance services in clinical trials, focused on the administration, scoring, and recording of conventional brain health assessments and reporting. Its operating segment includes Clinical Trials, Healthcare, and Administration. The company generates maximum revenue from the Clinical Trials segment. In the clinical trials segment, technology and services are sold to pharmaceutical and biotechnology companies. The company derives revenue from the sale of licensed software and cognitive testing services.
77GF Score
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