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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.
True North CopperASX:TNC -3.70%29 Return-on-Tangible-Asset is -7.29% as of Dec. 2025. GuruFocus rates ASX:TNC with a GF Score™ of 29/100. The stock has 6 warning signs investors should review. Among 2,666 Metals & Mining companies, True North Copper ranks better than 63.28% 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. True North Copper's annualizedNet Income for the quarter that ended in Dec. 2025 was A$-7.33 Mil. True North Copper's average total tangible assets for the quarter that ended in Dec. 2025 was A$100.54 Mil. Therefore, True North Copper's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -7.29%.
The historical rank and industry rank for True North Copper's Return-on-Tangible-Asset or its related term are showing as below:
ASX:TNC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -72.33 Med: -26.8 Max: -6.98
Current: -6.98
During the past 6 years, True North Copper's highest Return-on-Tangible-Asset was -6.98%. The lowest was -72.33%. And the median was -26.80%.
ASX:TNC's Return-on-Tangible-Asset is ranked better than 63.28% of 2666
companies
in the Metals & Mining industry
Industry Median: -17.3
vs ASX:TNC: -6.98
True North Copper (ASX:TNC) 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.
True North Copper Return-on-Tangible-Asset Related Terms
True North Copper Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for True North Copper'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:TNC vs SCCO, FCX: Return-on-Tangible-Asset Comparison
For the Copper subindustry, True North Copper'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.
True North Copper Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, True North Copper's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where True North Copper'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 -7.29% mean?
True North Copper (ASX:TNC) has a Return-on-Tangible-Asset of -7.29% 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 True North Copper and its competitors. According to the industry distribution chart, True North Copper ranks #979 out of 2666 companies in the Metals & Mining industry, placing it in the top 36.7%.
Is True North Copper's Return-on-Tangible-Asset too high?
True North Copper's current Return-on-Tangible-Asset is -7.29%. Based on the distribution chart, True North Copper ranks #979 out of 2666 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, True North Copper has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does True North Copper's Return-on-Tangible-Asset compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, True North Copper ranks #979 out of 2666 companies for Return-on-Tangible-Asset. This puts True North Copper in the upper half of its industry. 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 Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. 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 True North Copper and its competitors. True North Copper's current Return-on-Tangible-Asset is -7.29%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is True North Copper stock overvalued right now?
True North Copper (ASX:TNC) has a current Return-on-Tangible-Asset of -7.29%. The current Return-on-Tangible-Asset is -7.29%. True North Copper's overall GF Score™ is 29/100 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 True North Copper (ASX:TNC), the current Return-on-Tangible-Asset is -7.29% 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.
True North Copper Ltd is an active mineral exploration company focused on land holdings in North and Central Queensland. It holds exploration tenements for copper, cobalt, gold, and silver, along with a free carried interest in three New South Wales copper-gold porphyry tenements. The company's main projects are the Cloncurry Copper Project, which targets IOCG and copper-gold deposits for open-pit mining, and the Mt Oxide Project, known for its high-grade copper, cobalt, and silver deposit. Its primary revenue comes from the sale of copper sulphate pentahydrate.
29GF Score
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