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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. Horizon Kinetics Holding's annualizedNet Income for the quarter that ended in Mar. 2026 was $290.13 Mil. Horizon Kinetics Holding's average total tangible assets for the quarter that ended in Mar. 2026 was $2,040.09 Mil. Therefore, Horizon Kinetics Holding's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 14.22%.
The historical rank and industry rank for Horizon Kinetics Holding's Return-on-Tangible-Asset or its related term are showing as below:
HKHC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -72.88 Med: -0.3 Max: 29.91
Current: 2.7
During the past 13 years, Horizon Kinetics Holding's highest Return-on-Tangible-Asset was 29.91%. The lowest was -72.88%. And the median was -0.30%.
HKHC's Return-on-Tangible-Asset is ranked worse than 58.53% of 1635
companies
in the Asset Management industry
Industry Median: 4.24
vs HKHC: 2.70
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.
Horizon Kinetics Holding Return-on-Tangible-Asset Related Terms
Horizon Kinetics Holding Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Horizon Kinetics Holding'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.
HKHC vs VINP, PDT, NCDL: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Horizon Kinetics Holding'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.
Horizon Kinetics Holding Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Horizon Kinetics Holding's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Horizon Kinetics Holding'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 14.22% mean?
Horizon Kinetics Holding (HKHC) has a Return-on-Tangible-Asset of 14.22% 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 Horizon Kinetics Holding and its competitors. According to the industry distribution chart, Horizon Kinetics Holding ranks #957 out of 1635 companies in the Asset Management industry, placing it in the top 58.5%.
Is Horizon Kinetics Holding's Return-on-Tangible-Asset too high?
Horizon Kinetics Holding's current Return-on-Tangible-Asset is 14.22%. The Asset Management industry median Return-on-Tangible-Asset is 4.24. Horizon Kinetics Holding's value of 14.22% is 235.4% above this industry median. Based on the distribution chart, Horizon Kinetics Holding ranks #957 out of 1635 companies in the Asset Management industry, which is below the industry midpoint. Overall, Horizon Kinetics Holding has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Horizon Kinetics Holding's Return-on-Tangible-Asset compare to VINP and PDT?
According to the Asset Management industry distribution chart, Horizon Kinetics Holding ranks #957 out of 1635 companies for Return-on-Tangible-Asset. This places Horizon Kinetics Holding in the lower half of its industry. The industry median Return-on-Tangible-Asset is 4.24. Horizon Kinetics Holding's value of 14.22% is 235.4% 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 Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.24, based on 1,635 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. Horizon Kinetics Holding's current Return-on-Tangible-Asset of 14.22% is 235.4% 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 Horizon Kinetics Holding and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Horizon Kinetics Holding's current Return-on-Tangible-Asset is 14.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Horizon Kinetics Holding stock overvalued right now?
Based on GuruFocus' analysis, Horizon Kinetics Holding (HKHC) is currently considered Fairly Valued. The stock's GF Value™ is $27.74, compared to a current price of $28.00 — trading 0.9% above its estimated fair value. The current Return-on-Tangible-Asset is 14.22% and 235.4% above the Asset Management industry median of 4.24. Horizon Kinetics Holding's overall GF Score™ is 58/100 with 4 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 Horizon Kinetics Holding (HKHC), the current Return-on-Tangible-Asset is 14.22% 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 Horizon Kinetics Holding (HKHC) Overvalued in 2026?
Based on GuruFocus' analysis, Horizon Kinetics Holding stock appears to be overvalued.
The current stock price of $28.00 is trading 0.9% above its estimated GF Value™ of $27.74.
GuruFocus considers Horizon Kinetics Holding to be Fairly Valued.
Key valuation signals for HKHC:
Return-on-Tangible-Asset: 14.22%
GF Value™: $27.74 vs. price of $28.00 (0.9% above fair value)
Industry Position: 235.4% above the Asset Management median (#957 of 1635)
No single metric tells the full story. See the HKHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Horizon Kinetics Holding Corp offers investment advisory services. The company provides proprietary research and investment advisory services for alternative value-based investing strategies. The fees earned, which include both management and performance fees, depend upon several factors, including the investment strategies, size of account and servicing needs. Geographically, the company operates in United States.
58GF Score
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