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Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) 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.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Return-on-Tangible-Asset Related Terms
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Return-on-Tangible-Asset Historical Data
* 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.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Return-on-Tangible-Asset Chart
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Annual Data
* 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.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario Return-on-Tangible-Asset vs REITs Industry
* 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 one times the annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 4.37% mean?
Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) has a Return-on-Tangible-Asset of 4.37% 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 Hedge Brasil Shopping Fundo DE Investimento Imobiliario and its competitors. This is 35% below median its historical median of 6.72. According to the industry distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #354 out of 916 companies in the REITs industry, placing it in the top 38.6%.
Is Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Return-on-Tangible-Asset too high?
Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Return-on-Tangible-Asset of 4.37% is 35% below median its 10-year median of 6.72. The REITs industry median Return-on-Tangible-Asset is 3.31. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's value of 4.37% is 32% above this industry median. Based on the distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #354 out of 916 companies in the REITs industry, which is above the industry midpoint. Overall, Hedge Brasil Shopping Fundo DE Investimento Imobiliario has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hedge Brasil Shopping Fundo DE Investimento Imobiliario's Return-on-Tangible-Asset compare to SPG and O?
According to the REITs industry distribution chart, Hedge Brasil Shopping Fundo DE Investimento Imobiliario ranks #354 out of 916 companies for Return-on-Tangible-Asset. This puts Hedge Brasil Shopping Fundo DE Investimento Imobiliario in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.31. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's value of 4.37% is 32% above this benchmark. While the company's 10-year median is 6.72 vs. the industry median of 3.31, Hedge Brasil Shopping Fundo DE Investimento Imobiliario 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 3.31, based on 916 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. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Return-on-Tangible-Asset of 4.37% is 32% 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 Hedge Brasil Shopping Fundo DE Investimento Imobiliario and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's current Return-on-Tangible-Asset is 4.37%, which is 35% below median its own 10-year median of 6.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hedge Brasil Shopping Fundo DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) is currently considered Fairly Valued. The stock's GF Value™ is R$17.35, compared to a current price of R$18.74 — trading 8% above its estimated fair value. The current Return-on-Tangible-Asset is 4.37%, which is 35% below median its 10-year median of 6.72 and 32% above the REITs industry median of 3.31. Hedge Brasil Shopping Fundo DE Investimento Imobiliario's overall GF Score™ is 65/100 with 4 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 Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11), the current Return-on-Tangible-Asset is 4.37% 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 Hedge Brasil Shopping Fundo DE Investimento Imobiliario (BSP:HGBS11) Overvalued in 2026?
Based on GuruFocus' analysis, Hedge Brasil Shopping Fundo DE Investimento Imobiliario stock appears to be overvalued.
The current stock price of R$18.74 is trading 8% above its estimated GF Value™ of R$17.35.
GuruFocus considers Hedge Brasil Shopping Fundo DE Investimento Imobiliario to be Fairly Valued.
Key valuation signals for BSP:HGBS11:
Return-on-Tangible-Asset: 4.37% (35% below median its 10-year median of 6.72)
GF Value™: R$17.35 vs. price of R$18.74 (8% above fair value)
Industry Position: 32% above the REITs median (#354 of 916)
No single metric tells the full story. See the BSP:HGBS11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hedge Brasil Shopping Fundo DE Investimento Imobiliario is a Brazilian real estate investment fund with objective to obtain capital appreciation by acquisition of interests in shopping centers. The objective of the Fund is the acquisition for commercial exploitation of commercial real estate projects, which are duly built or are subject to renovations, improvements or expansions, through the acquisition of portions and/or the entirety of real estate projects, directly or indirectly, through the assets provided for in the Regulation, for subsequent sale, rental or leasing, including assets and rights related to them.
65GF Score
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