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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. Harboes Bryggeri AS's annualizedNet Income for the quarter that ended in Apr. 2026 was €-0.3 Mil. Harboes Bryggeri AS's average total tangible assets for the quarter that ended in Apr. 2026 was €193.6 Mil. Therefore, Harboes Bryggeri AS's annualized Return-on-Tangible-Asset for the quarter that ended in Apr. 2026 was -0.15%.
The historical rank and industry rank for Harboes Bryggeri AS's Return-on-Tangible-Asset or its related term are showing as below:
FRA:DX4'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -2.65 Med: 0.45 Max: 4.36
Current: 1.6
During the past 13 years, Harboes Bryggeri AS's highest Return-on-Tangible-Asset was 4.36%. The lowest was -2.65%. And the median was 0.45%.
FRA:DX4's Return-on-Tangible-Asset is ranked worse than 60.38% of 212
companies
in the Beverages - Alcoholic industry
Industry Median: 3.1
vs FRA:DX4: 1.60
Harboes Bryggeri AS (FRA:DX4) 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.
Harboes Bryggeri AS Return-on-Tangible-Asset Related Terms
Harboes Bryggeri AS Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Harboes Bryggeri AS'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.
Harboes Bryggeri AS Return-on-Tangible-Asset Chart
FRA:DX4 vs BUD, STZ, TAP: Return-on-Tangible-Asset Comparison
For the Beverages - Brewers subindustry, Harboes Bryggeri AS'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.
Harboes Bryggeri AS Return-on-Tangible-Asset vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Harboes Bryggeri AS's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Harboes Bryggeri AS'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 (Apr. 2026) net income data.
What does a Return-on-Tangible-Asset of -0.15% mean?
Harboes Bryggeri AS (FRA:DX4) has a Return-on-Tangible-Asset of -0.15% as of Apr. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Harboes Bryggeri AS and its competitors. According to the industry distribution chart, Harboes Bryggeri AS ranks #128 out of 212 companies in the Beverages - Alcoholic industry, placing it in the top 60.4%.
Is Harboes Bryggeri AS's Return-on-Tangible-Asset too high?
Harboes Bryggeri AS's current Return-on-Tangible-Asset is -0.15%. Based on the distribution chart, Harboes Bryggeri AS ranks #128 out of 212 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Harboes Bryggeri AS has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.
How does Harboes Bryggeri AS's Return-on-Tangible-Asset compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Harboes Bryggeri AS ranks #128 out of 212 companies for Return-on-Tangible-Asset. This places Harboes Bryggeri AS in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.10. 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 Beverages - Alcoholic company?
The median Return-on-Tangible-Asset among Beverages - Alcoholic companies is 3.10, based on 212 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 Harboes Bryggeri AS and its competitors. For the Beverages - Alcoholic industry, the median Return-on-Tangible-Asset is 3.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harboes Bryggeri AS's current Return-on-Tangible-Asset is -0.15%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harboes Bryggeri AS stock overvalued right now?
Harboes Bryggeri AS (FRA:DX4) has a current Return-on-Tangible-Asset of -0.15%. The stock's GF Value™ is €15.97, compared to a current price of €14.46 — trading 9.5% below its estimated fair value. The current Return-on-Tangible-Asset is -0.15%. Harboes Bryggeri AS's overall GF Score™ is 67/100 with 5 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 Harboes Bryggeri AS (FRA:DX4), the current Return-on-Tangible-Asset is -0.15% as of Apr. 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 Harboes Bryggeri AS (FRA:DX4) Overvalued in 2026?
Based on GuruFocus' analysis, Harboes Bryggeri AS stock appears to be undervalued.
The current stock price of €14.46 is trading 9.5% below its estimated GF Value™ of €15.97.
Key valuation signals for FRA:DX4:
Return-on-Tangible-Asset: -0.15%
GF Value™: €15.97 vs. price of €14.46 (9.5% below fair value)
No single metric tells the full story. See the FRA:DX4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harboes Bryggeri AS is a Denmark-based company which is engaged in the production and sale of alcoholic and non-alcoholic beverages. The product portfolio of the company includes beer, soft drinks, non-alcoholic malt and dark malt, energy drinks, juices, ciders, water, and others. Harboes has its presence in Denmark, Germany, and other countries. The majority of the company's revenue comes from Germany.
67GF Score
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