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HashKey HoldingsFRA:QO1 -0.68%11 Return-on-Tangible-Asset is -41.09% as of Dec. 2025. GuruFocus rates FRA:QO1 with a GF Score™ of 11/100. The stock has 5 warning signs investors should review. Among 811 Capital Markets companies, HashKey Holdings ranks worse than 92.36% 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. HashKey Holdings's annualizedNet Income for the quarter that ended in Dec. 2025 was €-127.44 Mil. HashKey Holdings's average total tangible assets for the quarter that ended in Dec. 2025 was €310.14 Mil. Therefore, HashKey Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -41.09%.
The historical rank and industry rank for HashKey Holdings's Return-on-Tangible-Asset or its related term are showing as below:
FRA:QO1'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -77.81 Med: -49.49 Max: -38.54
Current: -40.87
During the past 4 years, HashKey Holdings's highest Return-on-Tangible-Asset was -38.54%. The lowest was -77.81%. And the median was -49.49%.
FRA:QO1's Return-on-Tangible-Asset is ranked worse than 92.36% of 811
companies
in the Capital Markets industry
Industry Median: 1.6
vs FRA:QO1: -40.87
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.
HashKey Holdings Return-on-Tangible-Asset Related Terms
HashKey Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for HashKey Holdings'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:QO1 vs SPGI, CME, ICE: Return-on-Tangible-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, HashKey Holdings'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.
HashKey Holdings Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, HashKey Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where HashKey Holdings'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 -41.09% mean?
HashKey Holdings (FRA:QO1) has a Return-on-Tangible-Asset of -41.09% 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 HashKey Holdings and its competitors. According to the industry distribution chart, HashKey Holdings ranks #749 out of 811 companies in the Capital Markets industry, placing it in the top 92.4%.
Is HashKey Holdings' Return-on-Tangible-Asset too high?
HashKey Holdings' current Return-on-Tangible-Asset is -41.09%. Based on the distribution chart, HashKey Holdings ranks #749 out of 811 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, HashKey Holdings has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does HashKey Holdings' Return-on-Tangible-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, HashKey Holdings ranks #749 out of 811 companies for Return-on-Tangible-Asset. This places HashKey Holdings in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.60. 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.60, based on 811 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 HashKey Holdings and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HashKey Holdings's current Return-on-Tangible-Asset is -41.09%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HashKey Holdings stock overvalued right now?
HashKey Holdings (FRA:QO1) has a current Return-on-Tangible-Asset of -41.09%. The current Return-on-Tangible-Asset is -41.09%. HashKey Holdings' overall GF Score™ is 11/100 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 HashKey Holdings (FRA:QO1), the current Return-on-Tangible-Asset is -41.09% 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.
HashKey Holdings Ltd is an investment holding company, principally engaged in digital asset exchange custody, asset management, and related blockchain infrastructure services. The Group's business includes licensed digital asset trading platforms, brokerage services, custody solutions, asset management products, and technology services provided to institutional and professional clients. The company's business segments are: Transaction facilitation services, On-chain services, and Asset management services. It derived the majority of revenue from the Transaction facilitation services segment, covering digital asset exchange services, brokerage services, and custody services. Geographically, it derived the maximum revenue from Hong Kong.
11GF Score
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