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Singapore ExchangeFRA:SOU +1.27%88 Return-on-Tangible-Asset is 20.67% as of Dec. 2025, which is 2% above its 10-year median of 20.31. GuruFocus rates FRA:SOU with a GF Score™ of 88/100 and a GF Value™ of €8.77 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 819 Capital Markets companies, Singapore Exchange ranks better than 93.04% 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. Singapore Exchange's annualizedNet Income for the quarter that ended in Dec. 2025 was €453.5 Mil. Singapore Exchange's average total tangible assets for the quarter that ended in Dec. 2025 was €2,193.8 Mil. Therefore, Singapore Exchange's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 20.67%.
The historical rank and industry rank for Singapore Exchange's Return-on-Tangible-Asset or its related term are showing as below:
FRA:SOU'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 17.88 Med: 20.31 Max: 24.31
Current: 20.19
During the past 13 years, Singapore Exchange's highest Return-on-Tangible-Asset was 24.31%. The lowest was 17.88%. And the median was 20.31%.
FRA:SOU's Return-on-Tangible-Asset is ranked better than 93.04% of 819
companies
in the Capital Markets industry
Industry Median: 1.54
vs FRA:SOU: 20.19
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.
Singapore Exchange Return-on-Tangible-Asset Related Terms
Singapore Exchange Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Singapore Exchange'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:SOU vs SPGI, CME, MCO: Return-on-Tangible-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, Singapore Exchange'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.
Singapore Exchange Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Singapore Exchange's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Singapore Exchange'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 20.67% mean?
Singapore Exchange (FRA:SOU) has a Return-on-Tangible-Asset of 20.67% 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 Singapore Exchange and its competitors. This is near median its historical median of 20.31. Over the past decade, Singapore Exchange's Return-on-Tangible-Asset has ranged from 17.88 to 24.31. According to the industry distribution chart, Singapore Exchange ranks #57 out of 819 companies in the Capital Markets industry, placing it in the top 7%.
Is Singapore Exchange's Return-on-Tangible-Asset too high?
Singapore Exchange's current Return-on-Tangible-Asset of 20.67% is near median its 10-year median of 20.31. Over the past 10 years, this metric has ranged from a low of 17.88 to a high of 24.31. The Capital Markets industry median Return-on-Tangible-Asset is 1.54. Singapore Exchange's value of 20.67% is 1242.2% above this industry median. Based on the distribution chart, Singapore Exchange ranks #57 out of 819 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Singapore Exchange has a GF Score™ of 88/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Singapore Exchange's Return-on-Tangible-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Singapore Exchange ranks #57 out of 819 companies for Return-on-Tangible-Asset. This places Singapore Exchange in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.54. Singapore Exchange's value of 20.67% is 1242.2% above this benchmark. Historically, Singapore Exchange's own Return-on-Tangible-Asset has ranged from 17.88 to 24.31 over the past decade. While the company's 10-year median is 20.31 vs. the industry median of 1.54, Singapore Exchange 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.54, based on 819 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. Singapore Exchange's current Return-on-Tangible-Asset of 20.67% is 1242.2% 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 Singapore Exchange and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Singapore Exchange's current Return-on-Tangible-Asset is 20.67%, which is near median its own 10-year median of 20.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Singapore Exchange stock overvalued right now?
Based on GuruFocus' analysis, Singapore Exchange (FRA:SOU) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.77, compared to a current price of €16.00 — trading 82.4% above its estimated fair value. The current Return-on-Tangible-Asset is 20.67%, which is near median its 10-year median of 20.31 and 1242.2% above the Capital Markets industry median of 1.54. Singapore Exchange's overall GF Score™ is 88/100 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 Singapore Exchange (FRA:SOU), the current Return-on-Tangible-Asset is 20.67% 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 Singapore Exchange (FRA:SOU) Overvalued in 2026?
Based on GuruFocus' analysis, Singapore Exchange stock appears to be overvalued.
The current stock price of €16.00 is trading 82.4% above its estimated GF Value™ of €8.77.
GuruFocus considers Singapore Exchange to be Significantly Overvalued.
Key valuation signals for FRA:SOU:
Return-on-Tangible-Asset: 20.67% (near median its 10-year median of 20.31)
GF Value™: €8.77 vs. price of €16.00 (82.4% above fair value)
Industry Position: 1242.2% above the Capital Markets median (#57 of 819)
No single metric tells the full story. See the FRA:SOU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Singapore Exchange is a vertically integrated securities exchange business, offering listing-, data-, trading-, clearing- and settlement services across equities, debt and derivatives. Singapore Exchange, like Singapore itself, is remarkably outward-facing and offers some of the most liquid and widely traded equity derivative products for various regional markets, including the FTSE China A50 Index Futures.
88GF Score
Get the complete analysis for FRA:SOU
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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