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Goodman GroupFRA:MY4 +0.57%84 Return-on-Tangible-Asset is 5.51% as of Dec. 2025, which is 43% below its 10-year median of 9.59. GuruFocus rates FRA:MY4 with a GF Score™ of 84/100 and a GF Value™ of €26.97 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 932 REITs companies, Goodman Group ranks better than 72.1% 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. Goodman Group's annualizedNet Income for the quarter that ended in Dec. 2025 was €936 Mil. Goodman Group's average total tangible assets for the quarter that ended in Dec. 2025 was €16,999 Mil. Therefore, Goodman Group's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 5.51%.
The historical rank and industry rank for Goodman Group's Return-on-Tangible-Asset or its related term are showing as below:
FRA:MY4'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.43 Med: 9.59 Max: 18.61
Current: 5.86
During the past 13 years, Goodman Group's highest Return-on-Tangible-Asset was 18.61%. The lowest was -0.43%. And the median was 9.59%.
FRA:MY4's Return-on-Tangible-Asset is ranked better than 72.1% of 932
companies
in the REITs industry
Industry Median: 3.27
vs FRA:MY4: 5.86
Goodman Group (FRA:MY4) 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.
Goodman Group Return-on-Tangible-Asset Related Terms
Goodman Group Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Goodman Group'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:MY4 vs VICI, WPC, BNL: Return-on-Tangible-Asset Comparison
For the REIT - Diversified subindustry, Goodman Group'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.
Goodman Group Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Goodman Group's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Goodman Group'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 5.51% mean?
Goodman Group (FRA:MY4) has a Return-on-Tangible-Asset of 5.51% 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 Goodman Group and its competitors. This is 43% below median its historical median of 9.59. According to the industry distribution chart, Goodman Group ranks #260 out of 932 companies in the REITs industry, placing it in the top 27.9%.
Is Goodman Group's Return-on-Tangible-Asset too high?
Goodman Group's current Return-on-Tangible-Asset of 5.51% is 43% below median its 10-year median of 9.59. The REITs industry median Return-on-Tangible-Asset is 3.27. Goodman Group's value of 5.51% is 68.5% above this industry median. Based on the distribution chart, Goodman Group ranks #260 out of 932 companies in the REITs industry, which is above the industry midpoint. Overall, Goodman Group has a GF Score™ of 84/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Goodman Group's Return-on-Tangible-Asset compare to VICI and WPC?
According to the REITs industry distribution chart, Goodman Group ranks #260 out of 932 companies for Return-on-Tangible-Asset. This puts Goodman Group in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.27. Goodman Group's value of 5.51% is 68.5% above this benchmark. While the company's 10-year median is 9.59 vs. the industry median of 3.27, Goodman Group 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 3.27, based on 932 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. Goodman Group's current Return-on-Tangible-Asset of 5.51% is 68.5% 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 Goodman Group and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Goodman Group's current Return-on-Tangible-Asset is 5.51%, which is 43% below median its own 10-year median of 9.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Goodman Group stock overvalued right now?
Based on GuruFocus' analysis, Goodman Group (FRA:MY4) is currently considered Possible Value Trap. The stock's GF Value™ is €26.97, compared to a current price of €17.77 — trading 34.1% below its estimated fair value. The current Return-on-Tangible-Asset is 5.51%, which is 43% below median its 10-year median of 9.59 and 68.5% above the REITs industry median of 3.27. Goodman Group's overall GF Score™ is 84/100 with 6 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 Goodman Group (FRA:MY4), the current Return-on-Tangible-Asset is 5.51% 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 Goodman Group (FRA:MY4) Overvalued in 2026?
Based on GuruFocus' analysis, Goodman Group stock appears to be undervalued.
The current stock price of €17.77 is trading 34.1% below its estimated GF Value™ of €26.97.
GuruFocus considers Goodman Group to be Possible Value Trap.
Key valuation signals for FRA:MY4:
Return-on-Tangible-Asset: 5.51% (43% below median its 10-year median of 9.59)
GF Value™: €26.97 vs. price of €17.77 (34.1% below fair value)
Industry Position: 68.5% above the REITs median (#260 of 932)
No single metric tells the full story. See the FRA:MY4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Goodman Group owns, manages, and develops industrial properties in 13 countries, historically in Australia but increasingly worldwide. Around half of its operating earnings come from development, a third from management, and the rest from property investment. Most developments are undertaken on behalf of third parties or fund investors. Goodman earns fees in return for development management services. Completed projects are either sold or reside in one of Goodman's funds or partnerships. Goodman typically retains ownership stakes in the investment vehicles and continues to manage the sites after completion, collecting investment management base fees, performance fees, property services fees, and a share of rental income.
84GF Score
Get the complete analysis for FRA:MY4
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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