WAM LeadersASX:WLE -0.72%72 Return-on-Tangible-Asset is 10.71% as of Dec. 2025, which is 78% above its 10-year median of 6.02. GuruFocus rates ASX:WLE with a GF Score™ of 72/100 and a GF Value™ of A$2.31 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,635 Asset Management companies, WAM Leaders ranks better than 61.22% 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. WAM Leaders's annualizedNet Income for the quarter that ended in Dec. 2025 was A$199.9 Mil. WAM Leaders's average total tangible assets for the quarter that ended in Dec. 2025 was A$1,866.4 Mil. Therefore, WAM Leaders's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 10.71%.
The historical rank and industry rank for WAM Leaders's Return-on-Tangible-Asset or its related term are showing as below:
ASX:WLE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.53 Med: 6.02 Max: 20.49
Current: 6.74
During the past 8 years, WAM Leaders's highest Return-on-Tangible-Asset was 20.49%. The lowest was 0.53%. And the median was 6.02%.
ASX:WLE's Return-on-Tangible-Asset is ranked better than 61.22% of 1635
companies
in the Asset Management industry
Industry Median: 4.13
vs ASX:WLE: 6.74
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.
WAM Leaders Return-on-Tangible-Asset Related Terms
WAM Leaders Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for WAM Leaders'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:WLE vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, WAM Leaders'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.
WAM Leaders Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Leaders's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where WAM Leaders'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 10.71% mean?
WAM Leaders (ASX:WLE) has a Return-on-Tangible-Asset of 10.71% 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 WAM Leaders and its competitors. This is 78% above median its historical median of 6.02. Over the past decade, WAM Leaders' Return-on-Tangible-Asset has ranged from 0.53 to 20.49. According to the industry distribution chart, WAM Leaders ranks #634 out of 1635 companies in the Asset Management industry, placing it in the top 38.8%.
Is WAM Leaders' Return-on-Tangible-Asset too high?
WAM Leaders' current Return-on-Tangible-Asset of 10.71% is 78% above median its 10-year median of 6.02. Over the past 10 years, this metric has ranged from a low of 0.53 to a high of 20.49. The Asset Management industry median Return-on-Tangible-Asset is 4.13. WAM Leaders' value of 10.71% is 159.3% above this industry median. Based on the distribution chart, WAM Leaders ranks #634 out of 1635 companies in the Asset Management industry, which is above the industry midpoint. Overall, WAM Leaders has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WAM Leaders' Return-on-Tangible-Asset compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Leaders ranks #634 out of 1635 companies for Return-on-Tangible-Asset. This puts WAM Leaders in the upper half of its industry. The industry median Return-on-Tangible-Asset is 4.13. WAM Leaders' value of 10.71% is 159.3% above this benchmark. Historically, WAM Leaders' own Return-on-Tangible-Asset has ranged from 0.53 to 20.49 over the past decade. While the company's 10-year median is 6.02 vs. the industry median of 4.13, WAM Leaders 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 an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.13, based on 1,635 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. WAM Leaders's current Return-on-Tangible-Asset of 10.71% is 159.3% 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 WAM Leaders and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Leaders's current Return-on-Tangible-Asset is 10.71%, which is 78% above median its own 10-year median of 6.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Leaders stock overvalued right now?
Based on GuruFocus' analysis, WAM Leaders (ASX:WLE) is currently considered Significantly Undervalued. The stock's GF Value™ is A$2.31, compared to a current price of A$1.39 — trading 40% below its estimated fair value. The current Return-on-Tangible-Asset is 10.71%, which is 78% above median its 10-year median of 6.02 and 159.3% above the Asset Management industry median of 4.13. WAM Leaders' overall GF Score™ is 72/100 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 WAM Leaders (ASX:WLE), the current Return-on-Tangible-Asset is 10.71% 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 WAM Leaders (ASX:WLE) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Leaders stock appears to be undervalued.
The current stock price of A$1.39 is trading 40% below its estimated GF Value™ of A$2.31.
GuruFocus considers WAM Leaders to be Significantly Undervalued.
Key valuation signals for ASX:WLE:
Return-on-Tangible-Asset: 10.71% (78% above median its 10-year median of 6.02)
GF Value™: A$2.31 vs. price of A$1.39 (40% below fair value)
Industry Position: 159.3% above the Asset Management median (#634 of 1635)
No single metric tells the full story. See the ASX:WLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Leaders Ltd is an investment company. The company's investment objectives are to deliver a stream of fully franked dividends, provide capital growth over the medium-to-long term, and preserve capital. The company currently engages in investing activities, including cash, term deposits, and equity investments in listed companies. Its portfolio consists of securities of companies from various sectors such as Communication services, Financials, Consumer staples, Health care, and Information technology, among others.
72GF Score
Get the complete analysis for ASX:WLE
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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