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A2A SpACHIX:A2AM 83 Return-on-Tangible-Asset is 4.86% as of Mar. 2026, which is 18% above its 10-year median of 4.11. GuruFocus rates CHIX:A2AM with a GF Score™ of 83/100 and a GF Value™ of €2.38 (Fairly Valued). The stock has 2 warning signs investors should review. Among 510 Utilities - Regulated companies, A2A SpA ranks better than 61.57% 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. A2A SpA's annualizedNet Income for the quarter that ended in Mar. 2026 was €864 Mil. A2A SpA's average total tangible assets for the quarter that ended in Mar. 2026 was €17,764 Mil. Therefore, A2A SpA's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 4.86%.
The historical rank and industry rank for A2A SpA's Return-on-Tangible-Asset or its related term are showing as below:
CHIX:A2Am'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.45 Med: 4.11 Max: 5.63
Current: 4.31
During the past 13 years, A2A SpA's highest Return-on-Tangible-Asset was 5.63%. The lowest was 2.45%. And the median was 4.11%.
CHIX:A2Am's Return-on-Tangible-Asset is ranked better than 61.57% of 510
companies
in the Utilities - Regulated industry
Industry Median: 3.305
vs CHIX:A2Am: 4.31
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.
A2A SpA Return-on-Tangible-Asset Related Terms
A2A SpA Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for A2A SpA'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.
CHIX:A2AM vs SRE: Return-on-Tangible-Asset Comparison
For the Utilities - Diversified subindustry, A2A SpA'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.
A2A SpA Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, A2A SpA's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where A2A SpA'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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 4.86% mean?
A2A SpA (CHIX:A2AM) has a Return-on-Tangible-Asset of 4.86% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on A2A SpA and its competitors. This is 18% above median its historical median of 4.11. Over the past decade, A2A SpA's Return-on-Tangible-Asset has ranged from 2.45 to 5.63. According to the industry distribution chart, A2A SpA ranks #196 out of 510 companies in the Utilities - Regulated industry, placing it in the top 38.4%.
Is A2A SpA's Return-on-Tangible-Asset too high?
A2A SpA's current Return-on-Tangible-Asset of 4.86% is 18% above median its 10-year median of 4.11. Over the past 10 years, this metric has ranged from a low of 2.45 to a high of 5.63. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.31. A2A SpA's value of 4.86% is 47% above this industry median. Based on the distribution chart, A2A SpA ranks #196 out of 510 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, A2A SpA has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does A2A SpA's Return-on-Tangible-Asset compare to SRE?
According to the Utilities - Regulated industry distribution chart, A2A SpA ranks #196 out of 510 companies for Return-on-Tangible-Asset. This puts A2A SpA in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.31. A2A SpA's value of 4.86% is 47% above this benchmark. Historically, A2A SpA's own Return-on-Tangible-Asset has ranged from 2.45 to 5.63 over the past decade. While the company's 10-year median is 4.11 vs. the industry median of 3.31, A2A SpA 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 Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.31, based on 510 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. A2A SpA's current Return-on-Tangible-Asset of 4.86% is 47% 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 A2A SpA and its competitors. For the Utilities - Regulated 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. A2A SpA's current Return-on-Tangible-Asset is 4.86%, which is 18% above median its own 10-year median of 4.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is A2A SpA stock overvalued right now?
Based on GuruFocus' analysis, A2A SpA (CHIX:A2AM) is currently considered Fairly Valued. The stock's GF Value™ is €2.38, compared to a current price of €2.33 — trading 2.1% below its estimated fair value. The current Return-on-Tangible-Asset is 4.86%, which is 18% above median its 10-year median of 4.11 and 47% above the Utilities - Regulated industry median of 3.31. A2A SpA's overall GF Score™ is 83/100 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 A2A SpA (CHIX:A2AM), the current Return-on-Tangible-Asset is 4.86% as of Mar. 2026. 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 A2A SpA (CHIX:A2AM) Overvalued in 2026?
Based on GuruFocus' analysis, A2A SpA stock appears to be undervalued.
The current stock price of €2.33 is trading 2.1% below its estimated GF Value™ of €2.38.
GuruFocus considers A2A SpA to be Fairly Valued.
Key valuation signals for CHIX:A2AM:
Return-on-Tangible-Asset: 4.86% (18% above median its 10-year median of 4.11)
GF Value™: €2.38 vs. price of €2.33 (2.1% below fair value)
Industry Position: 47% above the Utilities - Regulated median (#196 of 510)
No single metric tells the full story. See the CHIX:A2AM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
A2A SpA together with its subsidiaries is engaged in the production, sale, and distribution of electricity; sale and distribution of gas; production, distribution, and sale of heat through district heating networks, technical consultancy relating to energy efficiency certificates, waste management (from collection and sweeping to disposal) and the construction and management of integrated waste disposal plants and systems, also making these available for other operators, and integrated water cycle management.
83GF Score
Get the complete analysis for CHIX:A2AM
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