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West African ResourcesASX:WAF -0.70%96 Return-on-Tangible-Asset is 23.13% as of Dec. 2025, which is 65% above its 10-year median of 14.00. GuruFocus rates ASX:WAF with a GF Score™ of 96/100 and a GF Value™ of A$4.59 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,667 Metals & Mining companies, West African Resources ranks better than 94.19% 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. West African Resources's annualizedNet Income for the quarter that ended in Dec. 2025 was A$576 Mil. West African Resources's average total tangible assets for the quarter that ended in Dec. 2025 was A$2,491 Mil. Therefore, West African Resources's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 23.13%.
The historical rank and industry rank for West African Resources's Return-on-Tangible-Asset or its related term are showing as below:
ASX:WAF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -228.93 Med: 14 Max: 28.31
Current: 20.44
During the past 13 years, West African Resources's highest Return-on-Tangible-Asset was 28.31%. The lowest was -228.93%. And the median was 14.00%.
ASX:WAF's Return-on-Tangible-Asset is ranked better than 94.19% of 2667
companies
in the Metals & Mining industry
Industry Median: -17.27
vs ASX:WAF: 20.44
West African Resources (ASX:WAF) 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.
West African Resources Return-on-Tangible-Asset Related Terms
West African Resources Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for West African Resources'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.
West African Resources Return-on-Tangible-Asset Chart
ASX:WAF vs NEM, AU: Return-on-Tangible-Asset Comparison
For the Gold subindustry, West African Resources'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.
West African Resources Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, West African Resources's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where West African Resources'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 23.13% mean?
West African Resources (ASX:WAF) has a Return-on-Tangible-Asset of 23.13% 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 West African Resources and its competitors. This is 65% above median its historical median of 14.00. According to the industry distribution chart, West African Resources ranks #155 out of 2667 companies in the Metals & Mining industry, placing it in the top 5.8%.
Is West African Resources' Return-on-Tangible-Asset too high?
West African Resources' current Return-on-Tangible-Asset of 23.13% is 65% above median its 10-year median of 14.00. Based on the distribution chart, West African Resources ranks #155 out of 2667 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, West African Resources has a GF Score™ of 96/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does West African Resources' Return-on-Tangible-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, West African Resources ranks #155 out of 2667 companies for Return-on-Tangible-Asset. This places West African Resources in the top 6% of its industry — outperforming the majority of peers. 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 West African Resources and its competitors. West African Resources's current Return-on-Tangible-Asset is 23.13%, which is 65% above median its own 10-year median of 14.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is West African Resources stock overvalued right now?
Based on GuruFocus' analysis, West African Resources (ASX:WAF) is currently considered Significantly Undervalued. The stock's GF Value™ is A$4.59, compared to a current price of A$2.82 — trading 38.6% below its estimated fair value. The current Return-on-Tangible-Asset is 23.13%, which is 65% above median its 10-year median of 14.00. West African Resources' overall GF Score™ is 96/100 with 3 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 West African Resources (ASX:WAF), the current Return-on-Tangible-Asset is 23.13% 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 West African Resources (ASX:WAF) Overvalued in 2026?
Based on GuruFocus' analysis, West African Resources stock appears to be undervalued.
The current stock price of A$2.82 is trading 38.6% below its estimated GF Value™ of A$4.59.
GuruFocus considers West African Resources to be Significantly Undervalued.
Key valuation signals for ASX:WAF:
Return-on-Tangible-Asset: 23.13% (65% above median its 10-year median of 14.00)
GF Value™: A$4.59 vs. price of A$2.82 (38.6% below fair value)
No single metric tells the full story. See the ASX:WAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. The Group's mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso. The operating segments of the Company that includes Mining Operations: comprise the Sanbrado Gold Project operation located in Burkina Faso. Construction and E&E segment comprises mines under construction andexploration and evaluation (E&E) projects in locations other than Sanbrado.
96GF Score
Get the complete analysis for ASX:WAF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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