Anglogold AshantiFRA:HT3 -1.22%85 Return-on-Tangible-Asset is 33.74% as of Mar. 2026, which is 1208% above its 10-year median of 2.58. GuruFocus rates FRA:HT3 with a GF Score™ of 85/100 and a GF Value™ of €48.63 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,657 Metals & Mining companies, Anglogold Ashanti ranks better than 95.3% 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. Anglogold Ashanti's annualizedNet Income for the quarter that ended in Mar. 2026 was €4,432 Mil. Anglogold Ashanti's average total tangible assets for the quarter that ended in Mar. 2026 was €13,138 Mil. Therefore, Anglogold Ashanti's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 33.74%.
The historical rank and industry rank for Anglogold Ashanti's Return-on-Tangible-Asset or its related term are showing as below:
FRA:HT3'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -2.93 Med: 2.58 Max: 23.92
Current: 23.92
During the past 13 years, Anglogold Ashanti's highest Return-on-Tangible-Asset was 23.92%. The lowest was -2.93%. And the median was 2.58%.
FRA:HT3's Return-on-Tangible-Asset is ranked better than 95.3% of 2657
companies
in the Metals & Mining industry
Industry Median: -17.41
vs FRA:HT3: 23.92
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.
Anglogold Ashanti Return-on-Tangible-Asset Related Terms
Anglogold Ashanti Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Anglogold Ashanti'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.
FRA:HT3 vs RGLD, CDE, AUGO: Return-on-Tangible-Asset Comparison
For the Gold subindustry, Anglogold Ashanti'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.
Anglogold Ashanti Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Anglogold Ashanti's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Anglogold Ashanti'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 33.74% mean?
Anglogold Ashanti (FRA:HT3) has a Return-on-Tangible-Asset of 33.74% 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 Anglogold Ashanti and its competitors. This is 1208% above median its historical median of 2.58. According to the industry distribution chart, Anglogold Ashanti ranks #125 out of 2657 companies in the Metals & Mining industry, placing it in the top 4.7%.
Is Anglogold Ashanti's Return-on-Tangible-Asset too high?
Anglogold Ashanti's current Return-on-Tangible-Asset of 33.74% is 1208% above median its 10-year median of 2.58. Based on the distribution chart, Anglogold Ashanti ranks #125 out of 2657 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Anglogold Ashanti has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Anglogold Ashanti's Return-on-Tangible-Asset compare to RGLD and CDE?
According to the Metals & Mining industry distribution chart, Anglogold Ashanti ranks #125 out of 2657 companies for Return-on-Tangible-Asset. This places Anglogold Ashanti in the top 5% of its industry — outperforming the majority of peers. 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 Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. 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 Anglogold Ashanti and its competitors. Anglogold Ashanti's current Return-on-Tangible-Asset is 33.74%, which is 1208% above median its own 10-year median of 2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anglogold Ashanti stock overvalued right now?
Based on GuruFocus' analysis, Anglogold Ashanti (FRA:HT3) is currently considered Significantly Overvalued. The stock's GF Value™ is €48.63, compared to a current price of €74.40 — trading 53% above its estimated fair value. The current Return-on-Tangible-Asset is 33.74%, which is 1208% above median its 10-year median of 2.58. Anglogold Ashanti's overall GF Score™ is 85/100 with 2 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 Anglogold Ashanti (FRA:HT3), the current Return-on-Tangible-Asset is 33.74% 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 Anglogold Ashanti (FRA:HT3) Overvalued in 2026?
Based on GuruFocus' analysis, Anglogold Ashanti stock appears to be overvalued.
The current stock price of €74.40 is trading 53% above its estimated GF Value™ of €48.63.
GuruFocus considers Anglogold Ashanti to be Significantly Overvalued.
Key valuation signals for FRA:HT3:
Return-on-Tangible-Asset: 33.74% (1208% above median its 10-year median of 2.58)
GF Value™: €48.63 vs. price of €74.40 (53% above fair value)
No single metric tells the full story. See the FRA:HT3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anglogold Ashanti PLC is an independent gold mining company. It has a diversified asset portfolio, including production from operations in eight countries (Argentina, Australia, Brazil, Egypt, Ghana, Guinea, the DRC, and Tanzania), supported by greenfield projects in the United States and Colombia. The company's main product is gold, which once mined, is processed into dore (unrefined gold bars) on site and then dispatched to precious metals refineries. Geographically, Anglogold generates maximum revenue from its operations in Africa (comprising operations at Kibali, Iduapriem, Obuasi, Siguiri, Geita, and Sukari mines), followed by Australia (including Sunrise Dam and Tropicana), and the Americas (comprising Cerro Vanguardia, AngloGold Ashanti Mineracao, and Serra Grande operations).
85GF Score
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