SBI HoldingsFRA:ZOF +3.45%80 Return-on-Tangible-Asset is 0.84% as of Mar. 2026, which is 21% below its 10-year median of 1.06. GuruFocus rates FRA:ZOF with a GF Score™ of 80/100 and a GF Value™ of €13.53 (Fairly Valued). The stock has 7 warning signs investors should review. Among 561 Diversified Financial Services companies, SBI Holdings ranks better than 55.26% 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. SBI Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was €1,710 Mil. SBI Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was €204,226 Mil. Therefore, SBI Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.84%.
The historical rank and industry rank for SBI Holdings's Return-on-Tangible-Asset or its related term are showing as below:
FRA:ZOF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.18 Med: 1.06 Max: 2.99
Current: 1.23
During the past 13 years, SBI Holdings's highest Return-on-Tangible-Asset was 2.99%. The lowest was 0.18%. And the median was 1.06%.
FRA:ZOF's Return-on-Tangible-Asset is ranked better than 55.26% of 561
companies
in the Diversified Financial Services industry
Industry Median: 0.9
vs FRA:ZOF: 1.23
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.
SBI Holdings Return-on-Tangible-Asset Related Terms
SBI Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for SBI 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:ZOF vs VOYA, FRHC: Return-on-Tangible-Asset Comparison
For the Financial Conglomerates subindustry, SBI 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.
SBI Holdings Return-on-Tangible-Asset vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, SBI Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SBI 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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 0.84% mean?
SBI Holdings (FRA:ZOF) has a Return-on-Tangible-Asset of 0.84% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SBI Holdings and its competitors. This is 21% below median its historical median of 1.06. Over the past decade, SBI Holdings' Return-on-Tangible-Asset has ranged from 0.18 to 2.99. According to the industry distribution chart, SBI Holdings ranks #251 out of 561 companies in the Diversified Financial Services industry, placing it in the top 44.7%.
Is SBI Holdings' Return-on-Tangible-Asset too high?
SBI Holdings' current Return-on-Tangible-Asset of 0.84% is 21% below median its 10-year median of 1.06. Over the past 10 years, this metric has ranged from a low of 0.18 to a high of 2.99. The Diversified Financial Services industry median Return-on-Tangible-Asset is 0.90. SBI Holdings' value of 0.84% is 6.7% below this industry median. Based on the distribution chart, SBI Holdings ranks #251 out of 561 companies in the Diversified Financial Services industry, which is above the industry midpoint. Overall, SBI Holdings has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SBI Holdings' Return-on-Tangible-Asset compare to VOYA and FRHC?
According to the Diversified Financial Services industry distribution chart, SBI Holdings ranks #251 out of 561 companies for Return-on-Tangible-Asset. This puts SBI Holdings in the upper half of its industry. The industry median Return-on-Tangible-Asset is 0.90. SBI Holdings' value of 0.84% is 6.7% below this benchmark. Historically, SBI Holdings' own Return-on-Tangible-Asset has ranged from 0.18 to 2.99 over the past decade. While the company's 10-year median is 1.06 vs. the industry median of 0.90, SBI Holdings 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 Diversified Financial Services company?
The median Return-on-Tangible-Asset among Diversified Financial Services companies is 0.90, based on 561 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. SBI Holdings's current Return-on-Tangible-Asset of 0.84% is 6.7% 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 SBI Holdings and its competitors. For the Diversified Financial Services industry, the median Return-on-Tangible-Asset is 0.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBI Holdings's current Return-on-Tangible-Asset is 0.84%, which is 21% below median its own 10-year median of 1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBI Holdings stock overvalued right now?
Based on GuruFocus' analysis, SBI Holdings (FRA:ZOF) is currently considered Fairly Valued. The stock's GF Value™ is €13.53, compared to a current price of €14.84 — trading 9.7% above its estimated fair value. The current Return-on-Tangible-Asset is 0.84%, which is 21% below median its 10-year median of 1.06 and 6.7% below the Diversified Financial Services industry median of 0.90. SBI Holdings' overall GF Score™ is 80/100 with 7 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 SBI Holdings (FRA:ZOF), the current Return-on-Tangible-Asset is 0.84% as of Mar. 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 SBI Holdings (FRA:ZOF) Overvalued in 2026?
Based on GuruFocus' analysis, SBI Holdings stock appears to be overvalued.
The current stock price of €14.84 is trading 9.7% above its estimated GF Value™ of €13.53.
GuruFocus considers SBI Holdings to be Fairly Valued.
Key valuation signals for FRA:ZOF:
Return-on-Tangible-Asset: 0.84% (21% below median its 10-year median of 1.06)
GF Value™: €13.53 vs. price of €14.84 (9.7% above fair value)
Industry Position: 6.7% below the Diversified Financial Services median (#251 of 561)
No single metric tells the full story. See the FRA:ZOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBI Holdings Inc is a financial conglomerate that offers a variety of services in securities, banking, and insurance. The company operates through five segments. The Asset Management segment provides investment management, advice, and financial product information. The Crypto Asset segment offers crypto exchange and trading services. The Financial Services segment covers securities, banking, and insurance activities in Japan and abroad. The Investment segment invests in IT, fintech, blockchain, finance, and biotech ventures. The Next Generation Business develops and sells pharmaceuticals, health foods, and cosmetics, conducts R&D in cancer and immunology, offers digital medical solutions, and engages in medical finance. It generates majority of its revenue from Financial services segment.
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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