SALAFIN (Groupe BMCE)CAS:SLF 45 Return-on-Tangible-Asset is 2.80% as of Dec. 2025, which is 5% above its 10-year median of 2.67. GuruFocus rates CAS:SLF with a GF Score™ of 45/100 and a GF Value™ of MAD578.28 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 545 Credit Services companies, SALAFIN (Groupe BMCE) ranks better than 62.39% 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. SALAFIN (Groupe BMCE)'s annualizedNet Income for the quarter that ended in Dec. 2025 was MAD98.8 Mil. SALAFIN (Groupe BMCE)'s average total tangible assets for the quarter that ended in Dec. 2025 was MAD3,526.8 Mil. Therefore, SALAFIN (Groupe BMCE)'s annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 2.80%.
The historical rank and industry rank for SALAFIN (Groupe BMCE)'s Return-on-Tangible-Asset or its related term are showing as below:
CAS:SLF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.37 Med: 2.67 Max: 4.13
Current: 2.74
During the past 13 years, SALAFIN (Groupe BMCE)'s highest Return-on-Tangible-Asset was 4.13%. The lowest was -0.37%. And the median was 2.67%.
CAS:SLF's Return-on-Tangible-Asset is ranked better than 62.39% of 545
companies
in the Credit Services industry
Industry Median: 1.92
vs CAS:SLF: 2.74
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.
SALAFIN (Groupe BMCE) Return-on-Tangible-Asset Related Terms
SALAFIN (Groupe BMCE) Return-on-Tangible-Asset Historical Data
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The historical data trend for SALAFIN (Groupe BMCE)'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.
CAS:SLF vs V, MA, AXP: Return-on-Tangible-Asset Comparison
For the Credit Services subindustry, SALAFIN (Groupe BMCE)'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.
SALAFIN (Groupe BMCE) Return-on-Tangible-Asset vs Credit Services Industry
For the Credit Services industry and Financial Services sector, SALAFIN (Groupe BMCE)'s Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SALAFIN (Groupe BMCE)'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 2.80% mean?
SALAFIN (Groupe BMCE) (CAS:SLF) has a Return-on-Tangible-Asset of 2.80% 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 SALAFIN (Groupe BMCE) and its competitors. This is near median its historical median of 2.67. According to the industry distribution chart, SALAFIN (Groupe BMCE) ranks #205 out of 545 companies in the Credit Services industry, placing it in the top 37.6%.
Is SALAFIN (Groupe BMCE)'s Return-on-Tangible-Asset too high?
SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Asset of 2.80% is near median its 10-year median of 2.67. The Credit Services industry median Return-on-Tangible-Asset is 1.92. SALAFIN (Groupe BMCE)'s value of 2.80% is 45.8% above this industry median. Based on the distribution chart, SALAFIN (Groupe BMCE) ranks #205 out of 545 companies in the Credit Services industry, which is above the industry midpoint. Overall, SALAFIN (Groupe BMCE) has a GF Score™ of 45/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SALAFIN (Groupe BMCE)'s Return-on-Tangible-Asset compare to V and MA?
According to the Credit Services industry distribution chart, SALAFIN (Groupe BMCE) ranks #205 out of 545 companies for Return-on-Tangible-Asset. This puts SALAFIN (Groupe BMCE) in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.92. SALAFIN (Groupe BMCE)'s value of 2.80% is 45.8% above this benchmark. While the company's 10-year median is 2.67 vs. the industry median of 1.92, SALAFIN (Groupe BMCE) 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 Credit Services company?
The median Return-on-Tangible-Asset among Credit Services companies is 1.92, based on 545 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. SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Asset of 2.80% is 45.8% 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 SALAFIN (Groupe BMCE) and its competitors. For the Credit Services industry, the median Return-on-Tangible-Asset is 1.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Asset is 2.80%, which is near median its own 10-year median of 2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SALAFIN (Groupe BMCE) stock overvalued right now?
Based on GuruFocus' analysis, SALAFIN (Groupe BMCE) (CAS:SLF) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD578.28, compared to a current price of MAD430.00 — trading 25.6% below its estimated fair value. The current Return-on-Tangible-Asset is 2.80%, which is near median its 10-year median of 2.67 and 45.8% above the Credit Services industry median of 1.92. SALAFIN (Groupe BMCE)'s overall GF Score™ is 45/100 with 2 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 SALAFIN (Groupe BMCE) (CAS:SLF), the current Return-on-Tangible-Asset is 2.80% 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 SALAFIN (Groupe BMCE) (CAS:SLF) Overvalued in 2026?
Based on GuruFocus' analysis, SALAFIN (Groupe BMCE) stock appears to be undervalued.
The current stock price of MAD430.00 is trading 25.6% below its estimated GF Value™ of MAD578.28.
GuruFocus considers SALAFIN (Groupe BMCE) to be Modestly Undervalued.
Key valuation signals for CAS:SLF:
Return-on-Tangible-Asset: 2.80% (near median its 10-year median of 2.67)
GF Value™: MAD578.28 vs. price of MAD430.00 (25.6% below fair value)
Industry Position: 45.8% above the Credit Services median (#205 of 545)
No single metric tells the full story. See the CAS:SLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SALAFIN (Groupe BMCE) is a Morocco-based company. It is a finance company. It offers consumer credit services. The company operates through various business segments that are Personal Credit, which include personal loan, and mortgage credit; Auto Financing, which provides car loans; and Revolving Credit.
45GF Score
Get the complete analysis for CAS:SLF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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