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ClienteleJSE:CLI 49 Return-on-Tangible-Asset is 4.64% as of Dec. 2025, which is 6% below its 10-year median of 4.93. GuruFocus rates JSE:CLI with a GF Score™ of 49/100 and a GF Value™ of R18.58 (Fairly Valued). The stock has 8 warning signs investors should review. Among 506 Insurance companies, Clientele ranks better than 67.79% 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. Clientele's annualizedNet Income for the quarter that ended in Dec. 2025 was R939 Mil. Clientele's average total tangible assets for the quarter that ended in Dec. 2025 was R20,237 Mil. Therefore, Clientele's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 4.64%.
The historical rank and industry rank for Clientele's Return-on-Tangible-Asset or its related term are showing as below:
JSE:CLI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.41 Med: 4.93 Max: 15.2
Current: 4.22
During the past 13 years, Clientele's highest Return-on-Tangible-Asset was 15.20%. The lowest was 2.41%. And the median was 4.93%.
JSE:CLI's Return-on-Tangible-Asset is ranked better than 67.79% of 506
companies
in the Insurance industry
Industry Median: 2.745
vs JSE:CLI: 4.22
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.
Clientele Return-on-Tangible-Asset Related Terms
Clientele Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Clientele'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.
JSE:CLI vs BRK.A, AIG, HIG: Return-on-Tangible-Asset Comparison
For the Insurance - Diversified subindustry, Clientele'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.
Clientele Return-on-Tangible-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, Clientele's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Clientele'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 4.64% mean?
Clientele (JSE:CLI) has a Return-on-Tangible-Asset of 4.64% 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 Clientele and its competitors. This is near median its historical median of 4.93. Over the past decade, Clientele's Return-on-Tangible-Asset has ranged from 2.41 to 15.20. According to the industry distribution chart, Clientele ranks #163 out of 506 companies in the Insurance industry, placing it in the top 32.2%.
Is Clientele's Return-on-Tangible-Asset too high?
Clientele's current Return-on-Tangible-Asset of 4.64% is near median its 10-year median of 4.93. Over the past 10 years, this metric has ranged from a low of 2.41 to a high of 15.20. The Insurance industry median Return-on-Tangible-Asset is 2.75. Clientele's value of 4.64% is 69% above this industry median. Based on the distribution chart, Clientele ranks #163 out of 506 companies in the Insurance industry, which is above the industry midpoint. Overall, Clientele has a GF Score™ of 49/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Clientele's Return-on-Tangible-Asset compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Clientele ranks #163 out of 506 companies for Return-on-Tangible-Asset. This puts Clientele in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.75. Clientele's value of 4.64% is 69% above this benchmark. Historically, Clientele's own Return-on-Tangible-Asset has ranged from 2.41 to 15.20 over the past decade. While the company's 10-year median is 4.93 vs. the industry median of 2.75, Clientele 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 Insurance company?
The median Return-on-Tangible-Asset among Insurance companies is 2.75, based on 506 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. Clientele's current Return-on-Tangible-Asset of 4.64% is 69% 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 Clientele and its competitors. For the Insurance industry, the median Return-on-Tangible-Asset is 2.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Clientele's current Return-on-Tangible-Asset is 4.64%, which is near median its own 10-year median of 4.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clientele stock overvalued right now?
Based on GuruFocus' analysis, Clientele (JSE:CLI) is currently considered Fairly Valued. The stock's GF Value™ is R18.58, compared to a current price of R19.71 — trading 6.1% above its estimated fair value. The current Return-on-Tangible-Asset is 4.64%, which is near median its 10-year median of 4.93 and 69% above the Insurance industry median of 2.75. Clientele's overall GF Score™ is 49/100 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 Clientele (JSE:CLI), the current Return-on-Tangible-Asset is 4.64% 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 Clientele (JSE:CLI) Overvalued in 2026?
Based on GuruFocus' analysis, Clientele stock appears to be overvalued.
The current stock price of R19.71 is trading 6.1% above its estimated GF Value™ of R18.58.
GuruFocus considers Clientele to be Fairly Valued.
Key valuation signals for JSE:CLI:
Return-on-Tangible-Asset: 4.64% (near median its 10-year median of 4.93)
GF Value™: R18.58 vs. price of R19.71 (6.1% above fair value)
Industry Position: 69% above the Insurance median (#163 of 506)
No single metric tells the full story. See the JSE:CLI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Clientele Ltd is a diversified financial services group. It markets, distributes, and underwrites insurance and investment products. The company's operating segment includes Clientele Life Insurance, 1Life Insurance, Non-Life Insurance, Emerald Life Insurance, and CBC Rewards, Mobile & Direct Rewards. Its insurance products and services include Legal, Mobile, Wealth, Credit Life, Investments, and others. It generates maximum revenue from the 1Life insurance segment, which involves the sale and administration of long-term insurance risk policies. The group currently operates in the South African market only.
49GF Score
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