Vicinity CentresASX:VCX +2.33%63 Return-on-Tangible-Asset is 9.78% as of Dec. 2025, which is 98% above its 10-year median of 4.93. GuruFocus rates ASX:VCX with a GF Score™ of 63/100 and a GF Value™ of A$1.80 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 938 REITs companies, Vicinity Centres ranks better than 80.28% 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. Vicinity Centres's annualizedNet Income for the quarter that ended in Dec. 2025 was A$1,611 Mil. Vicinity Centres's average total tangible assets for the quarter that ended in Dec. 2025 was A$16,467 Mil. Therefore, Vicinity Centres's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 9.78%.
The historical rank and industry rank for Vicinity Centres's Return-on-Tangible-Asset or its related term are showing as below:
ASX:VCX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -11.44 Med: 4.93 Max: 10.12
Current: 8.04
During the past 13 years, Vicinity Centres's highest Return-on-Tangible-Asset was 10.12%. The lowest was -11.44%. And the median was 4.93%.
ASX:VCX's Return-on-Tangible-Asset is ranked better than 80.28% of 938
companies
in the REITs industry
Industry Median: 3.265
vs ASX:VCX: 8.04
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.
Vicinity Centres Return-on-Tangible-Asset Related Terms
Vicinity Centres Return-on-Tangible-Asset Historical Data
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The historical data trend for Vicinity Centres'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:VCX vs SPG, O, KIM: Return-on-Tangible-Asset Comparison
For the REIT - Retail subindustry, Vicinity Centres'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.
Vicinity Centres Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Vicinity Centres's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Vicinity Centres'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 9.78% mean?
Vicinity Centres (ASX:VCX) has a Return-on-Tangible-Asset of 9.78% 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 Vicinity Centres and its competitors. This is 98% above median its historical median of 4.93. According to the industry distribution chart, Vicinity Centres ranks #185 out of 938 companies in the REITs industry, placing it in the top 19.7%.
Is Vicinity Centres' Return-on-Tangible-Asset too high?
Vicinity Centres' current Return-on-Tangible-Asset of 9.78% is 98% above median its 10-year median of 4.93. The REITs industry median Return-on-Tangible-Asset is 3.27. Vicinity Centres' value of 9.78% is 199.5% above this industry median. Based on the distribution chart, Vicinity Centres ranks #185 out of 938 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Vicinity Centres has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vicinity Centres' Return-on-Tangible-Asset compare to SPG and O?
According to the REITs industry distribution chart, Vicinity Centres ranks #185 out of 938 companies for Return-on-Tangible-Asset. This places Vicinity Centres in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.27. Vicinity Centres' value of 9.78% is 199.5% above this benchmark. While the company's 10-year median is 4.93 vs. the industry median of 3.27, Vicinity Centres 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.27, based on 938 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. Vicinity Centres's current Return-on-Tangible-Asset of 9.78% is 199.5% 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 Vicinity Centres and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vicinity Centres's current Return-on-Tangible-Asset is 9.78%, which is 98% above median its own 10-year median of 4.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vicinity Centres stock overvalued right now?
Based on GuruFocus' analysis, Vicinity Centres (ASX:VCX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.80, compared to a current price of A$2.64 — trading 46.7% above its estimated fair value. The current Return-on-Tangible-Asset is 9.78%, which is 98% above median its 10-year median of 4.93 and 199.5% above the REITs industry median of 3.27. Vicinity Centres' overall GF Score™ is 63/100 with 9 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 Vicinity Centres (ASX:VCX), the current Return-on-Tangible-Asset is 9.78% 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 Vicinity Centres (ASX:VCX) Overvalued in 2026?
Based on GuruFocus' analysis, Vicinity Centres stock appears to be overvalued.
The current stock price of A$2.64 is trading 46.7% above its estimated GF Value™ of A$1.80.
GuruFocus considers Vicinity Centres to be Significantly Overvalued.
Key valuation signals for ASX:VCX:
Return-on-Tangible-Asset: 9.78% (98% above median its 10-year median of 4.93)
GF Value™: A$1.80 vs. price of A$2.64 (46.7% above fair value)
Industry Position: 199.5% above the REITs median (#185 of 938)
No single metric tells the full story. See the ASX:VCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vicinity Centres operates about 50 shopping malls in Australia. They include several iconic city centers, like Queen Victoria Building, The Strand Arcade and The Galeries in Sydney, which are frequented by tourists and office workers nearby. Melbourne's Chadstone, Vicinity's crown jewel, is Australia's largest and highest turnover shopping mall. Smaller regional and neighborhood centers, to which Vicinity is consciously trimming exposure, account for around 15% of the portfolio. Vast majority of Vicinity's income is derived from rents. The group also earns small management fees for managing properties and development projects on behalf of capital partners.
63GF Score
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