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Goodman New Zealand and Goodman Property Services (FRA:NJK) 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 New Zealand and Goodman Property Services Return-on-Tangible-Asset Related Terms
Goodman New Zealand and Goodman Property Services 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.
Goodman New Zealand and Goodman Property Services Return-on-Tangible-Asset Chart
Goodman New Zealand and Goodman Property Services Annual Data
FRA:NJK vs PLD, PSA, EXR: Return-on-Tangible-Asset Comparison
For the REIT - Industrial subindustry, Goodman New Zealand and Goodman Property Services'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 New Zealand and Goodman Property Services Return-on-Tangible-Asset vs REITs Industry
* 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 (Sep. 2025) net income data.
What does a Return-on-Tangible-Asset of 2.71% mean?
Goodman New Zealand and Goodman Property Services (FRA:NJK) has a Return-on-Tangible-Asset of 2.71% as of Sep. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Goodman New Zealand and Goodman Property Services and its competitors. This is 69% below median its historical median of 8.78. According to the industry distribution chart, Goodman New Zealand and Goodman Property Services ranks #526 out of 921 companies in the REITs industry, placing it in the top 57.1%.
Is Goodman New Zealand and Goodman Property Services' Return-on-Tangible-Asset too high?
Goodman New Zealand and Goodman Property Services' current Return-on-Tangible-Asset of 2.71% is 69% below median its 10-year median of 8.78. The REITs industry median Return-on-Tangible-Asset is 3.31. Goodman New Zealand and Goodman Property Services' value of 2.71% is 18.1% below this industry median. Based on the distribution chart, Goodman New Zealand and Goodman Property Services ranks #526 out of 921 companies in the REITs industry, which is below the industry midpoint. Overall, Goodman New Zealand and Goodman Property Services has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Goodman New Zealand and Goodman Property Services' Return-on-Tangible-Asset compare to PLD and PSA?
According to the REITs industry distribution chart, Goodman New Zealand and Goodman Property Services ranks #526 out of 921 companies for Return-on-Tangible-Asset. This places Goodman New Zealand and Goodman Property Services in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.31. Goodman New Zealand and Goodman Property Services' value of 2.71% is 18.1% below this benchmark. While the company's 10-year median is 8.78 vs. the industry median of 3.31, Goodman New Zealand and Goodman Property Services has consistently been below 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 3.31, based on 921 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 New Zealand and Goodman Property Services's current Return-on-Tangible-Asset of 2.71% is 18.1% below 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 New Zealand and Goodman Property Services and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Goodman New Zealand and Goodman Property Services's current Return-on-Tangible-Asset is 2.71%, which is 69% below median its own 10-year median of 8.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Goodman New Zealand and Goodman Property Services stock overvalued right now?
Goodman New Zealand and Goodman Property Services (FRA:NJK) has a current Return-on-Tangible-Asset of 2.71%. The stock's GF Value™ is €0.74, compared to a current price of €0.98 — trading 31.8% above its estimated fair value. The current Return-on-Tangible-Asset is 2.71%, which is 69% below median its 10-year median of 8.78 and 18.1% below the REITs industry median of 3.31. Goodman New Zealand and Goodman Property Services' overall GF Score™ is 79/100 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 Goodman New Zealand and Goodman Property Services (FRA:NJK), the current Return-on-Tangible-Asset is 2.71% as of Sep. 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 New Zealand and Goodman Property Services (FRA:NJK) Overvalued in 2026?
Based on GuruFocus' analysis, Goodman New Zealand and Goodman Property Services stock appears to be overvalued.
The current stock price of €0.98 is trading 31.8% above its estimated GF Value™ of €0.74.
Key valuation signals for FRA:NJK:
Return-on-Tangible-Asset: 2.71% (69% below median its 10-year median of 8.78)
GF Value™: €0.74 vs. price of €0.98 (31.8% above fair value)
Industry Position: 18.1% below the REITs median (#526 of 921)
No single metric tells the full story. See the FRA:NJK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Goodman New Zealand Ltd and Goodman Property Services Ltd, formerly known as Goodman Property Trust, is one of New Zealand's property trusts, with a portfolio composed of industrial estates, businesses, and a development bank. After selling its Christchurch assets, Goodman is 100% Auckland-centric. The focus over the next few years will be on selling lower-quality assets and redeploying capital to industrial property in strategically important locations. The investment is premised on management's view that industrial assets in premium locations will generate superior long-term returns from lower average vacancy and higher rent growth.
79GF Score
Get the complete analysis for FRA:NJK
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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