Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Freehold RoyaltiesFRHLF -2.00%77 Return-on-Tangible-Asset is 10.19% as of Mar. 2026, which is 156% above its 10-year median of 3.98. GuruFocus rates FRHLF with a GF Score™ of 77/100 and a GF Value™ of $9.22 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,028 Oil & Gas companies, Freehold Royalties ranks better than 74.12% 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. Freehold Royalties's annualizedNet Income for the quarter that ended in Mar. 2026 was $102.4 Mil. Freehold Royalties's average total tangible assets for the quarter that ended in Mar. 2026 was $1,004.6 Mil. Therefore, Freehold Royalties's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 10.19%.
The historical rank and industry rank for Freehold Royalties's Return-on-Tangible-Asset or its related term are showing as below:
FRHLF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.67 Med: 3.98 Max: 18.33
Current: 6.36
During the past 13 years, Freehold Royalties's highest Return-on-Tangible-Asset was 18.33%. The lowest was -1.67%. And the median was 3.98%.
FRHLF's Return-on-Tangible-Asset is ranked better than 74.12% of 1028
companies
in the Oil & Gas industry
Industry Median: 2.055
vs FRHLF: 6.36
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.
Freehold Royalties Return-on-Tangible-Asset Related Terms
Freehold Royalties Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Freehold Royalties'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.
FRHLF vs COP, EOG, FANG: Return-on-Tangible-Asset Comparison
For the Oil & Gas E&P subindustry, Freehold Royalties'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.
Freehold Royalties Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Freehold Royalties's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Freehold Royalties'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 10.19% mean?
Freehold Royalties (FRHLF) has a Return-on-Tangible-Asset of 10.19% 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 Freehold Royalties and its competitors. This is 156% above median its historical median of 3.98. According to the industry distribution chart, Freehold Royalties ranks #266 out of 1028 companies in the Oil & Gas industry, placing it in the top 25.9%.
Is Freehold Royalties' Return-on-Tangible-Asset too high?
Freehold Royalties' current Return-on-Tangible-Asset of 10.19% is 156% above median its 10-year median of 3.98. The Oil & Gas industry median Return-on-Tangible-Asset is 2.06. Freehold Royalties' value of 10.19% is 395.9% above this industry median. Based on the distribution chart, Freehold Royalties ranks #266 out of 1028 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Freehold Royalties has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Freehold Royalties' Return-on-Tangible-Asset compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Freehold Royalties ranks #266 out of 1028 companies for Return-on-Tangible-Asset. This puts Freehold Royalties in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.06. Freehold Royalties' value of 10.19% is 395.9% above this benchmark. While the company's 10-year median is 3.98 vs. the industry median of 2.06, Freehold Royalties 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 an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.06, based on 1,028 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. Freehold Royalties's current Return-on-Tangible-Asset of 10.19% is 395.9% 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 Freehold Royalties and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Freehold Royalties's current Return-on-Tangible-Asset is 10.19%, which is 156% above median its own 10-year median of 3.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Freehold Royalties stock overvalued right now?
Based on GuruFocus' analysis, Freehold Royalties (FRHLF) is currently considered Modestly Overvalued. The stock's GF Value™ is $9.22, compared to a current price of $11.79 — trading 27.9% above its estimated fair value. The current Return-on-Tangible-Asset is 10.19%, which is 156% above median its 10-year median of 3.98 and 395.9% above the Oil & Gas industry median of 2.06. Freehold Royalties' overall GF Score™ is 77/100 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 Freehold Royalties (FRHLF), the current Return-on-Tangible-Asset is 10.19% 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 Freehold Royalties (FRHLF) Overvalued in 2026?
Based on GuruFocus' analysis, Freehold Royalties stock appears to be overvalued.
The current stock price of $11.79 is trading 27.9% above its estimated GF Value™ of $9.22.
GuruFocus considers Freehold Royalties to be Modestly Overvalued.
Key valuation signals for FRHLF:
Return-on-Tangible-Asset: 10.19% (156% above median its 10-year median of 3.98)
GF Value™: $9.22 vs. price of $11.79 (27.9% above fair value)
Industry Position: 395.9% above the Oil & Gas median (#266 of 1028)
No single metric tells the full story. See the FRHLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville, and Bakken basins located in the states of Texas, New Mexico, and North Dakota. The maximum revenue is generated from the Canada Segment.
77GF Score
Get the complete analysis for FRHLF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRHLF has been successfully added to your 
