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Emira Property FundJSE:EMI +1.92%58 Return-on-Tangible-Asset is 3.20% as of Mar. 2026, which is 32% below its 10-year median of 4.73. GuruFocus rates JSE:EMI with a GF Score™ of 58/100 and a GF Value™ of R8.62 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 925 REITs companies, Emira Property Fund ranks better than 61.51% 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. Emira Property Fund's annualizedNet Income for the quarter that ended in Mar. 2026 was R525 Mil. Emira Property Fund's average total tangible assets for the quarter that ended in Mar. 2026 was R16,424 Mil. Therefore, Emira Property Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.20%.
The historical rank and industry rank for Emira Property Fund's Return-on-Tangible-Asset or its related term are showing as below:
JSE:EMI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -5.12 Med: 4.73 Max: 14.62
Current: 4.38
During the past 13 years, Emira Property Fund's highest Return-on-Tangible-Asset was 14.62%. The lowest was -5.12%. And the median was 4.73%.
JSE:EMI's Return-on-Tangible-Asset is ranked better than 61.51% of 925
companies
in the REITs industry
Industry Median: 3.3
vs JSE:EMI: 4.38
Emira Property Fund (JSE:EMI) 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.
Emira Property Fund Return-on-Tangible-Asset Related Terms
Emira Property Fund Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Emira Property Fund'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.
Emira Property Fund Return-on-Tangible-Asset Chart
JSE:EMI vs VICI, WPC: Return-on-Tangible-Asset Comparison
For the REIT - Diversified subindustry, Emira Property Fund'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.
Emira Property Fund Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Emira Property Fund's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Emira Property Fund'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 (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.20% mean?
Emira Property Fund (JSE:EMI) has a Return-on-Tangible-Asset of 3.20% 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 Emira Property Fund and its competitors. This is 32% below median its historical median of 4.73. According to the industry distribution chart, Emira Property Fund ranks #356 out of 925 companies in the REITs industry, placing it in the top 38.5%.
Is Emira Property Fund's Return-on-Tangible-Asset too high?
Emira Property Fund's current Return-on-Tangible-Asset of 3.20% is 32% below median its 10-year median of 4.73. The REITs industry median Return-on-Tangible-Asset is 3.30. Emira Property Fund's value of 3.20% is 3% below this industry median. Based on the distribution chart, Emira Property Fund ranks #356 out of 925 companies in the REITs industry, which is above the industry midpoint. Overall, Emira Property Fund has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Emira Property Fund's Return-on-Tangible-Asset compare to VICI and WPC?
According to the REITs industry distribution chart, Emira Property Fund ranks #356 out of 925 companies for Return-on-Tangible-Asset. This puts Emira Property Fund in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.30. Emira Property Fund's value of 3.20% is 3% below this benchmark. While the company's 10-year median is 4.73 vs. the industry median of 3.30, Emira Property Fund has consistently been below 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.30, based on 925 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. Emira Property Fund's current Return-on-Tangible-Asset of 3.20% is 3% below 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 Emira Property Fund and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emira Property Fund's current Return-on-Tangible-Asset is 3.20%, which is 32% below median its own 10-year median of 4.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emira Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Emira Property Fund (JSE:EMI) is currently considered Significantly Overvalued. The stock's GF Value™ is R8.62, compared to a current price of R13.30 — trading 54.3% above its estimated fair value. The current Return-on-Tangible-Asset is 3.20%, which is 32% below median its 10-year median of 4.73 and 3% below the REITs industry median of 3.30. Emira Property Fund's overall GF Score™ is 58/100 with 6 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 Emira Property Fund (JSE:EMI), the current Return-on-Tangible-Asset is 3.20% 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 Emira Property Fund (JSE:EMI) Overvalued in 2026?
Based on GuruFocus' analysis, Emira Property Fund stock appears to be overvalued.
The current stock price of R13.30 is trading 54.3% above its estimated GF Value™ of R8.62.
GuruFocus considers Emira Property Fund to be Significantly Overvalued.
Key valuation signals for JSE:EMI:
Return-on-Tangible-Asset: 3.20% (32% below median its 10-year median of 4.73)
GF Value™: R8.62 vs. price of R13.30 (54.3% above fair value)
Industry Position: 3% below the REITs median (#356 of 925)
No single metric tells the full story. See the JSE:EMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Emira Property Fund Ltd is a South African real estate investment trust. The company's portfolio consists of office, retail, residential, and industrial properties. The majority of the properties are in Gauteng, with the others in the Western Cape and KwaZulu-Natal. The company operates through five segments, namely: Office; Retail; Industrial; Residential; and Corporate. The office segment comprises commercial properties. The retail segment includes shopping centers. The industrial segment consists of industrial properties. The residential segment comprises directly held residential property, and the corporate segment comprises the South African administration activities of the Group.
58GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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