Patrimoine et CommerceFRA:6DN +2.80%50 Return-on-Tangible-Asset is 6.12% as of Dec. 2025, which is 70% above its 10-year median of 3.59. GuruFocus rates FRA:6DN with a GF Score™ of 50/100 and a GF Value™ of €20.42 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 936 REITs companies, Patrimoine et Commerce ranks better than 60.04% 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. Patrimoine et Commerce's annualizedNet Income for the quarter that ended in Dec. 2025 was €59.69 Mil. Patrimoine et Commerce's average total tangible assets for the quarter that ended in Dec. 2025 was €975.28 Mil. Therefore, Patrimoine et Commerce's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 6.12%.
The historical rank and industry rank for Patrimoine et Commerce's Return-on-Tangible-Asset or its related term are showing as below:
FRA:6DN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2 Med: 3.59 Max: 5.3
Current: 4.32
During the past 13 years, Patrimoine et Commerce's highest Return-on-Tangible-Asset was 5.30%. The lowest was 2.00%. And the median was 3.59%.
FRA:6DN's Return-on-Tangible-Asset is ranked better than 60.04% of 936
companies
in the REITs industry
Industry Median: 3.25
vs FRA:6DN: 4.32
Patrimoine et Commerce (FRA:6DN) 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.
Patrimoine et Commerce Return-on-Tangible-Asset Related Terms
Patrimoine et Commerce Return-on-Tangible-Asset Historical Data
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The historical data trend for Patrimoine et Commerce'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.
Patrimoine et Commerce Return-on-Tangible-Asset Chart
FRA:6DN vs SPG, O, KIM: Return-on-Tangible-Asset Comparison
For the REIT - Retail subindustry, Patrimoine et Commerce'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.
Patrimoine et Commerce Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Patrimoine et Commerce's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Patrimoine et Commerce'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 6.12% mean?
Patrimoine et Commerce (FRA:6DN) has a Return-on-Tangible-Asset of 6.12% 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 Patrimoine et Commerce and its competitors. This is 70% above median its historical median of 3.59. Over the past decade, Patrimoine et Commerce's Return-on-Tangible-Asset has ranged from 2.00 to 5.30. According to the industry distribution chart, Patrimoine et Commerce ranks #374 out of 936 companies in the REITs industry, placing it in the top 40%.
Is Patrimoine et Commerce's Return-on-Tangible-Asset too high?
Patrimoine et Commerce's current Return-on-Tangible-Asset of 6.12% is 70% above median its 10-year median of 3.59. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 5.30. The REITs industry median Return-on-Tangible-Asset is 3.25. Patrimoine et Commerce's value of 6.12% is 88.3% above this industry median. Based on the distribution chart, Patrimoine et Commerce ranks #374 out of 936 companies in the REITs industry, which is above the industry midpoint. Overall, Patrimoine et Commerce has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Patrimoine et Commerce's Return-on-Tangible-Asset compare to SPG and O?
According to the REITs industry distribution chart, Patrimoine et Commerce ranks #374 out of 936 companies for Return-on-Tangible-Asset. This puts Patrimoine et Commerce in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.25. Patrimoine et Commerce's value of 6.12% is 88.3% above this benchmark. Historically, Patrimoine et Commerce's own Return-on-Tangible-Asset has ranged from 2.00 to 5.30 over the past decade. While the company's 10-year median is 3.59 vs. the industry median of 3.25, Patrimoine et Commerce 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.25, based on 936 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. Patrimoine et Commerce's current Return-on-Tangible-Asset of 6.12% is 88.3% 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 Patrimoine et Commerce and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Patrimoine et Commerce's current Return-on-Tangible-Asset is 6.12%, which is 70% above median its own 10-year median of 3.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Patrimoine et Commerce stock overvalued right now?
Based on GuruFocus' analysis, Patrimoine et Commerce (FRA:6DN) is currently considered Modestly Overvalued. The stock's GF Value™ is €20.42, compared to a current price of €25.70 — trading 25.9% above its estimated fair value. The current Return-on-Tangible-Asset is 6.12%, which is 70% above median its 10-year median of 3.59 and 88.3% above the REITs industry median of 3.25. Patrimoine et Commerce's overall GF Score™ is 50/100 with 8 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 Patrimoine et Commerce (FRA:6DN), the current Return-on-Tangible-Asset is 6.12% 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 Patrimoine et Commerce (FRA:6DN) Overvalued in 2026?
Based on GuruFocus' analysis, Patrimoine et Commerce stock appears to be overvalued.
The current stock price of €25.70 is trading 25.9% above its estimated GF Value™ of €20.42.
GuruFocus considers Patrimoine et Commerce to be Modestly Overvalued.
Key valuation signals for FRA:6DN:
Return-on-Tangible-Asset: 6.12% (70% above median its 10-year median of 3.59)
GF Value™: €20.42 vs. price of €25.70 (25.9% above fair value)
Industry Position: 88.3% above the REITs median (#374 of 936)
No single metric tells the full story. See the FRA:6DN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Patrimoine et Commerce is a real estate company engaged in the acquisition, development, and operation of commercial real estate properties in France. It operates a portfolio of real estate assets located in high-attraction areas in the suburbs or centers of medium-sized cities. The company's property portfolio includes shopping malls, supermarkets, shops, and business parks.
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