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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. Netwealth Group's annualizedNet Income for the quarter that ended in Dec. 2025 was A$-4.3 Mil. Netwealth Group's average total tangible assets for the quarter that ended in Dec. 2025 was A$254.9 Mil. Therefore, Netwealth Group's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -1.70%.
The historical rank and industry rank for Netwealth Group's Return-on-Tangible-Asset or its related term are showing as below:
ASX:NWL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 23.89 Med: 45.03 Max: 56.68
Current: 23.89
During the past 8 years, Netwealth Group's highest Return-on-Tangible-Asset was 56.68%. The lowest was 23.89%. And the median was 45.03%.
ASX:NWL's Return-on-Tangible-Asset is ranked better than 93.63% of 2890
companies
in the Software industry
Industry Median: 2.07
vs ASX:NWL: 23.89
Netwealth Group (ASX:NWL) 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.
Netwealth Group Return-on-Tangible-Asset Related Terms
Netwealth Group Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Netwealth Group'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:NWL vs UBER, SHOP, CRM: Return-on-Tangible-Asset Comparison
For the Software - Application subindustry, Netwealth Group'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.
Netwealth Group Return-on-Tangible-Asset vs Software Industry
For the Software industry and Technology sector, Netwealth Group's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Netwealth Group'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 -1.70% mean?
Netwealth Group (ASX:NWL) has a Return-on-Tangible-Asset of -1.70% 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 Netwealth Group and its competitors. Over the past decade, Netwealth Group's Return-on-Tangible-Asset has ranged from 23.89 to 56.68. According to the industry distribution chart, Netwealth Group ranks #184 out of 2890 companies in the Software industry, placing it in the top 6.4%.
Is Netwealth Group's Return-on-Tangible-Asset too high?
Netwealth Group's current Return-on-Tangible-Asset is -1.70%. Over the past 10 years, this metric has ranged from a low of 23.89 to a high of 56.68. Based on the distribution chart, Netwealth Group ranks #184 out of 2890 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netwealth Group has a GF Score™ of 86/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netwealth Group's Return-on-Tangible-Asset compare to UBER and SHOP?
According to the Software industry distribution chart, Netwealth Group ranks #184 out of 2890 companies for Return-on-Tangible-Asset. This places Netwealth Group in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.07. Historically, Netwealth Group's own Return-on-Tangible-Asset has ranged from 23.89 to 56.68 over the past decade. 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 Software company?
The median Return-on-Tangible-Asset among Software companies is 2.07, based on 2,890 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 Netwealth Group and its competitors. For the Software industry, the median Return-on-Tangible-Asset is 2.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netwealth Group's current Return-on-Tangible-Asset is -1.70%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netwealth Group stock overvalued right now?
Based on GuruFocus' analysis, Netwealth Group (ASX:NWL) is currently considered Significantly Undervalued. The stock's GF Value™ is A$35.71, compared to a current price of A$22.96 — trading 35.7% below its estimated fair value. The current Return-on-Tangible-Asset is -1.70%. Netwealth Group's overall GF Score™ is 86/100 with 2 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 Netwealth Group (ASX:NWL), the current Return-on-Tangible-Asset is -1.70% 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 Netwealth Group (ASX:NWL) Overvalued in 2026?
Based on GuruFocus' analysis, Netwealth Group stock appears to be undervalued.
The current stock price of A$22.96 is trading 35.7% below its estimated GF Value™ of A$35.71.
GuruFocus considers Netwealth Group to be Significantly Undervalued.
Key valuation signals for ASX:NWL:
Return-on-Tangible-Asset: -1.70%
GF Value™: A$35.71 vs. price of A$22.96 (35.7% below fair value)
No single metric tells the full story. See the ASX:NWL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netwealth provides cloud-based investment administration software as a service in Australia via its proprietary platform. Netwealth's platform provides portfolio administration, investment management tools, and investment and managed account services to financial intermediaries and directly to clients. The company charges SaaS fees based on funds under administration and management on its platform. Netwealth also offers Netwealth-branded investment products on its platform, which are managed by third-party investment managers.
86GF Score
Get the complete analysis for ASX:NWL
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