AppleCHIX:APCD +3.24%92 Return-on-Tangible-Asset is 32.67% as of Mar. 2026, which is 50% above its 10-year median of 21.73. GuruFocus rates CHIX:APCD with a GF Score™ of 92/100 and a GF Value™ of €231.52 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 2,496 Hardware companies, Apple ranks better than 99% 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. Apple's annualizedNet Income for the quarter that ended in Mar. 2026 was €102,340 Mil. Apple's average total tangible assets for the quarter that ended in Mar. 2026 was €313,226 Mil. Therefore, Apple's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 32.67%.
The historical rank and industry rank for Apple's Return-on-Tangible-Asset or its related term are showing as below:
CHIX:APCd'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 14.05 Med: 21.73 Max: 35
Current: 35
During the past 13 years, Apple's highest Return-on-Tangible-Asset was 35.00%. The lowest was 14.05%. And the median was 21.73%.
CHIX:APCd's Return-on-Tangible-Asset is ranked better than 99% of 2496
companies
in the Hardware industry
Industry Median: 2.425
vs CHIX:APCd: 35.00
Apple (CHIX:APCd) 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.
Apple Return-on-Tangible-Asset Related Terms
Apple Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Apple'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:APCD vs SONO, TBCH, VUZI: Return-on-Tangible-Asset Comparison
For the Consumer Electronics subindustry, Apple'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.
Apple Return-on-Tangible-Asset vs Hardware Industry
For the Hardware industry and Technology sector, Apple's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Apple'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 32.67% mean?
Apple (CHIX:APCD) has a Return-on-Tangible-Asset of 32.67% 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 Apple and its competitors. This is 50% above median its historical median of 21.73. Over the past decade, Apple's Return-on-Tangible-Asset has ranged from 14.05 to 35.00. According to the industry distribution chart, Apple ranks #25 out of 2496 companies in the Hardware industry, placing it in the top 1%.
Is Apple's Return-on-Tangible-Asset too high?
Apple's current Return-on-Tangible-Asset of 32.67% is 50% above median its 10-year median of 21.73. Over the past 10 years, this metric has ranged from a low of 14.05 to a high of 35.00. The Hardware industry median Return-on-Tangible-Asset is 2.43. Apple's value of 32.67% is 1247.2% above this industry median. Based on the distribution chart, Apple ranks #25 out of 2496 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Apple has a GF Score™ of 92/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Apple's Return-on-Tangible-Asset compare to SONO and TBCH?
According to the Hardware industry distribution chart, Apple ranks #25 out of 2496 companies for Return-on-Tangible-Asset. This places Apple in the top 1% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.43. Apple's value of 32.67% is 1247.2% above this benchmark. Historically, Apple's own Return-on-Tangible-Asset has ranged from 14.05 to 35.00 over the past decade. While the company's 10-year median is 21.73 vs. the industry median of 2.43, Apple 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 Hardware company?
The median Return-on-Tangible-Asset among Hardware companies is 2.43, based on 2,496 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. Apple's current Return-on-Tangible-Asset of 32.67% is 1247.2% 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 Apple and its competitors. For the Hardware industry, the median Return-on-Tangible-Asset is 2.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apple's current Return-on-Tangible-Asset is 32.67%, which is 50% above median its own 10-year median of 21.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apple stock overvalued right now?
Based on GuruFocus' analysis, Apple (CHIX:APCD) is currently considered Modestly Overvalued. The stock's GF Value™ is €231.52, compared to a current price of €267.55 — trading 15.6% above its estimated fair value. The current Return-on-Tangible-Asset is 32.67%, which is 50% above median its 10-year median of 21.73 and 1247.2% above the Hardware industry median of 2.43. Apple's overall GF Score™ is 92/100 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 Apple (CHIX:APCD), the current Return-on-Tangible-Asset is 32.67% 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 Apple (CHIX:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Apple stock appears to be overvalued.
The current stock price of €267.55 is trading 15.6% above its estimated GF Value™ of €231.52.
GuruFocus considers Apple to be Modestly Overvalued.
Key valuation signals for CHIX:APCD:
Return-on-Tangible-Asset: 32.67% (50% above median its 10-year median of 21.73)
GF Value™: €231.52 vs. price of €267.55 (15.6% above fair value)
Industry Position: 1247.2% above the Hardware median (#25 of 2496)
No single metric tells the full story. See the CHIX:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone accounts for the majority of the firm's sales, and Apple's other products, such as the Mac, iPad, and Watch, are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, such as streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors and works with subcontractors such as Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with the majority coming indirectly through partnerships and distribution.
92GF Score
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