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.
New Horizon AircraftHOVR -4.02%14 Return-on-Tangible-Asset is -50.38% as of May. 2026. GuruFocus rates HOVR with a GF Score™ of 14/100. The stock has 1 warning sign investors should review. Among 360 Aerospace & Defense companies, New Horizon Aircraft ranks worse than 95% 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. New Horizon Aircraft's annualizedNet Income for the quarter that ended in May. 2026 was $-19.38 Mil. New Horizon Aircraft's average total tangible assets for the quarter that ended in May. 2026 was $38.46 Mil. Therefore, New Horizon Aircraft's annualized Return-on-Tangible-Asset for the quarter that ended in May. 2026 was -50.38%.
The historical rank and industry rank for New Horizon Aircraft's Return-on-Tangible-Asset or its related term are showing as below:
HOVR'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -262.4 Med: -88.82 Max: 79.26
Current: -105.76
During the past 5 years, New Horizon Aircraft's highest Return-on-Tangible-Asset was 79.26%. The lowest was -262.40%. And the median was -88.82%.
HOVR's Return-on-Tangible-Asset is ranked worse than 95% of 360
companies
in the Aerospace & Defense industry
Industry Median: 3.04
vs HOVR: -105.76
New Horizon Aircraft (NAS:HOVR) Return-on-Tangible-Asset Explanation
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.
New Horizon Aircraft Return-on-Tangible-Asset Related Terms
New Horizon Aircraft Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for New Horizon Aircraft'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.
New Horizon Aircraft Return-on-Tangible-Asset Chart
HOVR vs VWAV, CODA, BYRN: Return-on-Tangible-Asset Comparison
For the Aerospace & Defense subindustry, New Horizon Aircraft'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.
New Horizon Aircraft Return-on-Tangible-Asset vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, New Horizon Aircraft's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where New Horizon Aircraft'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 (May. 2026) net income data.
What does a Return-on-Tangible-Asset of -50.38% mean?
New Horizon Aircraft (HOVR) has a Return-on-Tangible-Asset of -50.38% as of May. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on New Horizon Aircraft and its competitors. According to the industry distribution chart, New Horizon Aircraft ranks #342 out of 360 companies in the Aerospace & Defense industry, placing it in the top 95%.
Is New Horizon Aircraft's Return-on-Tangible-Asset too high?
New Horizon Aircraft's current Return-on-Tangible-Asset is -50.38%. Based on the distribution chart, New Horizon Aircraft ranks #342 out of 360 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, New Horizon Aircraft has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does New Horizon Aircraft's Return-on-Tangible-Asset compare to VWAV and CODA?
According to the Aerospace & Defense industry distribution chart, New Horizon Aircraft ranks #342 out of 360 companies for Return-on-Tangible-Asset. This places New Horizon Aircraft in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.04. 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 Aerospace & Defense company?
The median Return-on-Tangible-Asset among Aerospace & Defense companies is 3.04, based on 360 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 New Horizon Aircraft and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Asset is 3.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Horizon Aircraft's current Return-on-Tangible-Asset is -50.38%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Horizon Aircraft stock overvalued right now?
New Horizon Aircraft (HOVR) has a current Return-on-Tangible-Asset of -50.38%. The current Return-on-Tangible-Asset is -50.38%. New Horizon Aircraft's overall GF Score™ is 14/100 with 1 warning sign 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 New Horizon Aircraft (HOVR), the current Return-on-Tangible-Asset is -50.38% as of May. 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.
New Horizon Aircraft Ltd is an aerospace Original Equipment Manufacturer that is designing and building a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities, and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, floods, and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.
14GF Score
Get the complete analysis for HOVR
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
HOVR has been successfully added to your 
