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Combined Motor HoldingsJSE:CMH 92 Return-on-Tangible-Asset is 8.13% as of Feb. 2026, which is 16% above its 10-year median of 7.02. GuruFocus rates JSE:CMH with a GF Score™ of 92/100 and a GF Value™ of R39.15 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,331 Vehicles & Parts companies, Combined Motor Holdings ranks better than 76.78% 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. Combined Motor Holdings's annualizedNet Income for the quarter that ended in Feb. 2026 was R453 Mil. Combined Motor Holdings's average total tangible assets for the quarter that ended in Feb. 2026 was R5,571 Mil. Therefore, Combined Motor Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Feb. 2026 was 8.13%.
The historical rank and industry rank for Combined Motor Holdings's Return-on-Tangible-Asset or its related term are showing as below:
JSE:CMH'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.93 Med: 7.02 Max: 10.78
Current: 7.08
During the past 13 years, Combined Motor Holdings's highest Return-on-Tangible-Asset was 10.78%. The lowest was 4.93%. And the median was 7.02%.
JSE:CMH's Return-on-Tangible-Asset is ranked better than 76.78% of 1331
companies
in the Vehicles & Parts industry
Industry Median: 3.19
vs JSE:CMH: 7.08
Combined Motor Holdings (JSE:CMH) 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.
Combined Motor Holdings Return-on-Tangible-Asset Related Terms
Combined Motor Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Combined Motor 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.
Combined Motor Holdings Return-on-Tangible-Asset Chart
JSE:CMH vs CVNA, PAG, KMX: Return-on-Tangible-Asset Comparison
For the Auto & Truck Dealerships subindustry, Combined Motor 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.
Combined Motor Holdings Return-on-Tangible-Asset vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Combined Motor Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Combined Motor 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 two times the semi-annual (Feb. 2026) net income data.
What does a Return-on-Tangible-Asset of 8.13% mean?
Combined Motor Holdings (JSE:CMH) has a Return-on-Tangible-Asset of 8.13% as of Feb. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Combined Motor Holdings and its competitors. This is 16% above median its historical median of 7.02. Over the past decade, Combined Motor Holdings' Return-on-Tangible-Asset has ranged from 4.93 to 10.78. According to the industry distribution chart, Combined Motor Holdings ranks #309 out of 1331 companies in the Vehicles & Parts industry, placing it in the top 23.2%.
Is Combined Motor Holdings' Return-on-Tangible-Asset too high?
Combined Motor Holdings' current Return-on-Tangible-Asset of 8.13% is 16% above median its 10-year median of 7.02. Over the past 10 years, this metric has ranged from a low of 4.93 to a high of 10.78. The Vehicles & Parts industry median Return-on-Tangible-Asset is 3.19. Combined Motor Holdings' value of 8.13% is 154.9% above this industry median. Based on the distribution chart, Combined Motor Holdings ranks #309 out of 1331 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Combined Motor Holdings has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Combined Motor Holdings' Return-on-Tangible-Asset compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Combined Motor Holdings ranks #309 out of 1331 companies for Return-on-Tangible-Asset. This places Combined Motor Holdings in the top 23% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.19. Combined Motor Holdings' value of 8.13% is 154.9% above this benchmark. Historically, Combined Motor Holdings' own Return-on-Tangible-Asset has ranged from 4.93 to 10.78 over the past decade. While the company's 10-year median is 7.02 vs. the industry median of 3.19, Combined Motor Holdings 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 a Vehicles & Parts company?
The median Return-on-Tangible-Asset among Vehicles & Parts companies is 3.19, based on 1,331 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. Combined Motor Holdings's current Return-on-Tangible-Asset of 8.13% is 154.9% 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 Combined Motor Holdings and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Asset is 3.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Combined Motor Holdings's current Return-on-Tangible-Asset is 8.13%, which is 16% above median its own 10-year median of 7.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Combined Motor Holdings stock overvalued right now?
Based on GuruFocus' analysis, Combined Motor Holdings (JSE:CMH) is currently considered Fairly Valued. The stock's GF Value™ is R39.15, compared to a current price of R39.00 — trading 0.4% below its estimated fair value. The current Return-on-Tangible-Asset is 8.13%, which is 16% above median its 10-year median of 7.02 and 154.9% above the Vehicles & Parts industry median of 3.19. Combined Motor Holdings' overall GF Score™ is 92/100 with 2 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 Combined Motor Holdings (JSE:CMH), the current Return-on-Tangible-Asset is 8.13% as of Feb. 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 Combined Motor Holdings (JSE:CMH) Overvalued in 2026?
Based on GuruFocus' analysis, Combined Motor Holdings stock appears to be undervalued.
The current stock price of R39.00 is trading 0.4% below its estimated GF Value™ of R39.15.
GuruFocus considers Combined Motor Holdings to be Fairly Valued.
Key valuation signals for JSE:CMH:
Return-on-Tangible-Asset: 8.13% (16% above median its 10-year median of 7.02)
GF Value™: R39.15 vs. price of R39.00 (0.4% below fair value)
Industry Position: 154.9% above the Vehicles & Parts median (#309 of 1331)
No single metric tells the full story. See the JSE:CMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Combined Motor Holdings Ltd is a South Africa-based investment holding company engaged in motor retail and distribution, car hire, and financial services. The Company operates through four business segments: Motor Retail and Distribution, which generates maximum revenue and covers passenger, light commercial, and heavy commercial vehicles in both the volume and luxury categories; Car Hire, which offers a range of well-maintained vehicles for short- and long-term hire; Financial Services, which provides insurance underwriting facilities for products sold with new and used vehicles, including coverage for death, disability, dread disease, retrenchment, vehicle and component warranties, and vehicle financing through joint ventures with two finance houses; and Corporate Services and Other.
92GF Score
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