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NOVFRA:NO8 -6.25%74 Return-on-Tangible-Asset is 4.91% as of Jun. 2026. GuruFocus rates FRA:NO8 with a GF Score™ of 74/100 and a GF Value™ of €16.03 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,027 Oil & Gas companies, NOV ranks worse than 56.48% 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. NOV's annualizedNet Income for the quarter that ended in Jun. 2026 was €389 Mil. NOV's average total tangible assets for the quarter that ended in Jun. 2026 was €7,926 Mil. Therefore, NOV's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 4.91%.
The historical rank and industry rank for NOV's Return-on-Tangible-Asset or its related term are showing as below:
FRA:NO8'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -60.94 Med: -1.21 Max: 11.4
Current: 1.03
During the past 13 years, NOV's highest Return-on-Tangible-Asset was 11.40%. The lowest was -60.94%. And the median was -1.21%.
FRA:NO8's Return-on-Tangible-Asset is ranked worse than 56.48% of 1027
companies
in the Oil & Gas industry
Industry Median: 2.04
vs FRA:NO8: 1.03
NOV (FRA:NO8) 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.
NOV Return-on-Tangible-Asset Related Terms
NOV Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for NOV'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:NO8 vs WFRD, AROC, KGS: Return-on-Tangible-Asset Comparison
For the Oil & Gas Equipment & Services subindustry, NOV'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.
NOV Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NOV's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NOV'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 (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 4.91% mean?
NOV (FRA:NO8) has a Return-on-Tangible-Asset of 4.91% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on NOV and its competitors. According to the industry distribution chart, NOV ranks #580 out of 1027 companies in the Oil & Gas industry, placing it in the top 56.5%.
Is NOV's Return-on-Tangible-Asset too high?
NOV's current Return-on-Tangible-Asset is 4.91%. The Oil & Gas industry median Return-on-Tangible-Asset is 2.04. NOV's value of 4.91% is 140.7% above this industry median. Based on the distribution chart, NOV ranks #580 out of 1027 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, NOV has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NOV's Return-on-Tangible-Asset compare to WFRD and AROC?
According to the Oil & Gas industry distribution chart, NOV ranks #580 out of 1027 companies for Return-on-Tangible-Asset. This places NOV in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.04. NOV's value of 4.91% is 140.7% above this benchmark. 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 an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.04, based on 1,027 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. NOV's current Return-on-Tangible-Asset of 4.91% is 140.7% 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 NOV and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NOV's current Return-on-Tangible-Asset is 4.91%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NOV stock overvalued right now?
Based on GuruFocus' analysis, NOV (FRA:NO8) is currently considered Fairly Valued. The stock's GF Value™ is €16.03, compared to a current price of €16.50 — trading 2.9% above its estimated fair value. The current Return-on-Tangible-Asset is 4.91% and 140.7% above the Oil & Gas industry median of 2.04. NOV's overall GF Score™ is 74/100 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 NOV (FRA:NO8), the current Return-on-Tangible-Asset is 4.91% as of Jun. 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 NOV (FRA:NO8) Overvalued in 2026?
Based on GuruFocus' analysis, NOV stock appears to be overvalued.
The current stock price of €16.50 is trading 2.9% above its estimated GF Value™ of €16.03.
GuruFocus considers NOV to be Fairly Valued.
Key valuation signals for FRA:NO8:
Return-on-Tangible-Asset: 4.91%
GF Value™: €16.03 vs. price of €16.50 (2.9% above fair value)
Industry Position: 140.7% above the Oil & Gas median (#580 of 1027)
No single metric tells the full story. See the FRA:NO8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NOV (formerly National Oilwell Varco) designs, manufactures, and sells a wide range of equipment and components supplying the oil and gas industry, including rig equipment, downhole tools, drill pipe, and well casing. NOV's customers include major integrated oil companies, national oil companies, independent oil and gas companies, and drilling contractors. Its operations are organized into two reportable segments: energy products and services and energy equipment. NOV operates on a global scale, with international markets contributing nearly two-thirds of its annual revenue.
74GF Score
Get the complete analysis for FRA:NO8
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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