Vulcan SteelASX:VSL -4.47%58 Return-on-Tangible-Asset is 1.72% as of Dec. 2025, which is 76% below its 10-year median of 7.12. GuruFocus rates ASX:VSL with a GF Score™ of 58/100 and a GF Value™ of A$6.17 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 633 Steel companies, Vulcan Steel ranks worse than 52.45% 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. Vulcan Steel's annualizedNet Income for the quarter that ended in Dec. 2025 was A$14.4 Mil. Vulcan Steel's average total tangible assets for the quarter that ended in Dec. 2025 was A$839.6 Mil. Therefore, Vulcan Steel's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 1.72%.
The historical rank and industry rank for Vulcan Steel's Return-on-Tangible-Asset or its related term are showing as below:
ASX:VSL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.62 Med: 7.12 Max: 15.84
Current: 1.62
During the past 4 years, Vulcan Steel's highest Return-on-Tangible-Asset was 15.84%. The lowest was 1.62%. And the median was 7.12%.
ASX:VSL's Return-on-Tangible-Asset is ranked worse than 52.45% of 633
companies
in the Steel industry
Industry Median: 1.97
vs ASX:VSL: 1.62
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.
Vulcan Steel Return-on-Tangible-Asset Related Terms
Vulcan Steel Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Vulcan Steel'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:VSL vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Vulcan Steel'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.
Vulcan Steel Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Vulcan Steel's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Vulcan Steel'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 1.72% mean?
Vulcan Steel (ASX:VSL) has a Return-on-Tangible-Asset of 1.72% 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 Vulcan Steel and its competitors. This is 76% below median its historical median of 7.12. Over the past decade, Vulcan Steel's Return-on-Tangible-Asset has ranged from 1.62 to 15.84. According to the industry distribution chart, Vulcan Steel ranks #332 out of 633 companies in the Steel industry, placing it in the top 52.4%.
Is Vulcan Steel's Return-on-Tangible-Asset too high?
Vulcan Steel's current Return-on-Tangible-Asset of 1.72% is 76% below median its 10-year median of 7.12. Over the past 10 years, this metric has ranged from a low of 1.62 to a high of 15.84. The Steel industry median Return-on-Tangible-Asset is 1.97. Vulcan Steel's value of 1.72% is 12.7% below this industry median. Based on the distribution chart, Vulcan Steel ranks #332 out of 633 companies in the Steel industry, which is below the industry midpoint. Overall, Vulcan Steel has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Vulcan Steel ranks #332 out of 633 companies for Return-on-Tangible-Asset. This places Vulcan Steel in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.97. Vulcan Steel's value of 1.72% is 12.7% below this benchmark. Historically, Vulcan Steel's own Return-on-Tangible-Asset has ranged from 1.62 to 15.84 over the past decade. While the company's 10-year median is 7.12 vs. the industry median of 1.97, Vulcan Steel has consistently been below 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 1.97, based on 633 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. Vulcan Steel's current Return-on-Tangible-Asset of 1.72% is 12.7% below 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 Vulcan Steel and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Steel's current Return-on-Tangible-Asset is 1.72%, which is 76% below median its own 10-year median of 7.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.17, compared to a current price of A$4.70 — trading 23.8% below its estimated fair value. The current Return-on-Tangible-Asset is 1.72%, which is 76% below median its 10-year median of 7.12 and 12.7% below the Steel industry median of 1.97. Vulcan Steel's overall GF Score™ is 58/100 with 5 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 Vulcan Steel (ASX:VSL), the current Return-on-Tangible-Asset is 1.72% 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued.
The current stock price of A$4.70 is trading 23.8% below its estimated GF Value™ of A$6.17.
GuruFocus considers Vulcan Steel to be Modestly Undervalued.
Key valuation signals for ASX:VSL:
Return-on-Tangible-Asset: 1.72% (76% below median its 10-year median of 7.12)
GF Value™: A$6.17 vs. price of A$4.70 (23.8% below fair value)
Industry Position: 12.7% below the Steel median (#332 of 633)
No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
58GF Score
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