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North American Financial 15 SplitFNCSF 36 Return-on-Tangible-Asset is 40.03% as of Nov. 2025, which is 239% above its 10-year median of 11.82. GuruFocus rates FNCSF with a GF Score™ of 36/100. The stock has 7 warning signs investors should review. Among 1,636 Asset Management companies, North American Financial 15 Split ranks better than 86.8% on this metric.
The historical rank and industry rank for North American Financial 15 Split's Return-on-Tangible-Asset or its related term are showing as below:
FNCSF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -14.49 Med: 11.82 Max: 39.16
Current: 19.99
During the past 13 years, North American Financial 15 Split's highest Return-on-Tangible-Asset was 39.16%. The lowest was -14.49%. And the median was 11.82%.
FNCSF's Return-on-Tangible-Asset is ranked better than 86.8% of 1636
companies
in the Asset Management industry
Industry Median: 4.235
vs FNCSF: 19.99
North American Financial 15 Split (OTCPK:FNCSF) 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.
North American Financial 15 Split Return-on-Tangible-Asset Related Terms
North American Financial 15 Split 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.
North American Financial 15 Split Return-on-Tangible-Asset Chart
FNCSF vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, North American Financial 15 Split'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.
North American Financial 15 Split Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, North American Financial 15 Split's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where North American Financial 15 Split'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 (Nov. 2025) net income data.
What does a Return-on-Tangible-Asset of 40.03% mean?
North American Financial 15 Split (FNCSF) has a Return-on-Tangible-Asset of 40.03% as of Nov. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on North American Financial 15 Split and its competitors. This is 239% above median its historical median of 11.82. According to the industry distribution chart, North American Financial 15 Split ranks #216 out of 1636 companies in the Asset Management industry, placing it in the top 13.2%.
Is North American Financial 15 Split's Return-on-Tangible-Asset too high?
North American Financial 15 Split's current Return-on-Tangible-Asset of 40.03% is 239% above median its 10-year median of 11.82. The Asset Management industry median Return-on-Tangible-Asset is 4.24. North American Financial 15 Split's value of 40.03% is 845.2% above this industry median. Based on the distribution chart, North American Financial 15 Split ranks #216 out of 1636 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, North American Financial 15 Split has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does North American Financial 15 Split's Return-on-Tangible-Asset compare to BLK and BX?
According to the Asset Management industry distribution chart, North American Financial 15 Split ranks #216 out of 1636 companies for Return-on-Tangible-Asset. This places North American Financial 15 Split in the top 13% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 4.24. North American Financial 15 Split's value of 40.03% is 845.2% above this benchmark. While the company's 10-year median is 11.82 vs. the industry median of 4.24, North American Financial 15 Split 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 Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.24, based on 1,636 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. North American Financial 15 Split's current Return-on-Tangible-Asset of 40.03% is 845.2% 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 North American Financial 15 Split and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. North American Financial 15 Split's current Return-on-Tangible-Asset is 40.03%, which is 239% above median its own 10-year median of 11.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is North American Financial 15 Split stock overvalued right now?
North American Financial 15 Split (FNCSF) has a current Return-on-Tangible-Asset of 40.03%. The current Return-on-Tangible-Asset is 40.03%, which is 239% above median its 10-year median of 11.82 and 845.2% above the Asset Management industry median of 4.24. North American Financial 15 Split's overall GF Score™ is 36/100 with 7 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 North American Financial 15 Split (FNCSF), the current Return-on-Tangible-Asset is 40.03% as of Nov. 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.
North American Financial 15 Split Business Description
North American Financial 15 Split Corp is a mutual fund corporation. It invests in an actively managed portfolio of common shares comprised of core large-capitalization Canadian and United States financial services companies. It also invests in equity securities of issuers. The company's investment objective is to provide holders of Preferred Shares with cumulative preferential monthly cash dividends and to provide holders of Class A shares with regular monthly cash distributions.
36GF Score
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