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. Nova Eye Medical's annualizedNet Income for the quarter that ended in Dec. 2025 was $-4.47 Mil. Nova Eye Medical's average total tangible assets for the quarter that ended in Dec. 2025 was $12.14 Mil. Therefore, Nova Eye Medical's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -36.85%.
The historical rank and industry rank for Nova Eye Medical's Return-on-Tangible-Asset or its related term are showing as below:
ELXMF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -59.56 Med: -5.83 Max: 34.07
Current: -38.29
During the past 13 years, Nova Eye Medical's highest Return-on-Tangible-Asset was 34.07%. The lowest was -59.56%. And the median was -5.83%.
ELXMF's Return-on-Tangible-Asset is ranked worse than 78.1% of 854
companies
in the Medical Devices & Instruments industry
Industry Median: 0.595
vs ELXMF: -38.29
Nova Eye Medical (OTCPK:ELXMF) 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.
Nova Eye Medical Return-on-Tangible-Asset Related Terms
Nova Eye Medical Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Nova Eye Medical'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.
ELXMF vs ABT, SYK, MDT: Return-on-Tangible-Asset Comparison
For the Medical Devices subindustry, Nova Eye Medical'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.
Nova Eye Medical Return-on-Tangible-Asset vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Nova Eye Medical's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Nova Eye Medical'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 -36.85% mean?
Nova Eye Medical (ELXMF) has a Return-on-Tangible-Asset of -36.85% 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 Nova Eye Medical and its competitors. According to the industry distribution chart, Nova Eye Medical ranks #667 out of 854 companies in the Medical Devices & Instruments industry, placing it in the top 78.1%.
Is Nova Eye Medical's Return-on-Tangible-Asset too high?
Nova Eye Medical's current Return-on-Tangible-Asset is -36.85%. Based on the distribution chart, Nova Eye Medical ranks #667 out of 854 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Nova Eye Medical has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Nova Eye Medical's Return-on-Tangible-Asset compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Nova Eye Medical ranks #667 out of 854 companies for Return-on-Tangible-Asset. This places Nova Eye Medical in the lower half of its industry. The industry median Return-on-Tangible-Asset is 0.60. 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 Medical Devices & Instruments company?
The median Return-on-Tangible-Asset among Medical Devices & Instruments companies is 0.60, based on 854 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. 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 Nova Eye Medical and its competitors. For the Medical Devices & Instruments industry, the median Return-on-Tangible-Asset is 0.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nova Eye Medical's current Return-on-Tangible-Asset is -36.85%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nova Eye Medical stock overvalued right now?
Nova Eye Medical (ELXMF) has a current Return-on-Tangible-Asset of -36.85%. The stock's GF Value™ is $0.02, compared to a current price of $0.01 — trading 28.5% below its estimated fair value. The current Return-on-Tangible-Asset is -36.85%. Nova Eye Medical's overall GF Score™ is 55/100 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 Nova Eye Medical (ELXMF), the current Return-on-Tangible-Asset is -36.85% 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 Nova Eye Medical (ELXMF) Overvalued in 2026?
Based on GuruFocus' analysis, Nova Eye Medical stock appears to be undervalued.
The current stock price of $0.01 is trading 28.5% below its estimated GF Value™ of $0.02.
Key valuation signals for ELXMF:
Return-on-Tangible-Asset: -36.85%
GF Value™: $0.02 vs. price of $0.01 (28.5% below fair value)
No single metric tells the full story. See the ELXMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nova Eye Medical Ltd develops and sells surgical devices for the treatment of glaucoma, a cause of blindness. In addition, the company is involved in the commercialisation of the subthreshold nano-pulse ophthalmic laser, 2RT, for the treatment of retinal disease via the AlphaRET segment. The company's reportable segments are: Glaucoma Surgical Devices and AlphaRET. The majority of its revenue is generated from the Glaucoma Surgical Devices segment, which is involved in the design, manufacture, marketing, and sale of the iTrack, iTrack Advance, and the Molteno3 glaucoma surgical device. These are all single-use surgical devices. Geographically, the company generates maximum revenue from the United States of America, followed by Europe, the Asia Pacific, Other regions, and Australia.
55GF Score
Get the complete analysis for ELXMF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ELXMF has been successfully added to your 
