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.
KAPJSE:KAP +1.48%73 Return-on-Tangible-Asset is 3.64% as of Dec. 2025, which is 19% below its 10-year median of 4.48. GuruFocus rates JSE:KAP with a GF Score™ of 73/100 and a GF Value™ of R2.62 (Fairly Valued). The stock has 11 warning signs investors should review. Among 568 Conglomerates companies, KAP ranks worse than 70.95% 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. KAP's annualizedNet Income for the quarter that ended in Dec. 2025 was R1,042 Mil. KAP's average total tangible assets for the quarter that ended in Dec. 2025 was R28,616 Mil. Therefore, KAP's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 3.64%.
The historical rank and industry rank for KAP's Return-on-Tangible-Asset or its related term are showing as below:
JSE:KAP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -9.83 Med: 4.48 Max: 7.36
Current: 0.44
During the past 13 years, KAP's highest Return-on-Tangible-Asset was 7.36%. The lowest was -9.83%. And the median was 4.48%.
JSE:KAP's Return-on-Tangible-Asset is ranked worse than 70.95% of 568
companies
in the Conglomerates industry
Industry Median: 2.735
vs JSE:KAP: 0.44
KAP (JSE:KAP) 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.
KAP Return-on-Tangible-Asset Related Terms
KAP Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for KAP'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:KAP vs HON, MMM: Return-on-Tangible-Asset Comparison
For the Conglomerates subindustry, KAP'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.
KAP Return-on-Tangible-Asset vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, KAP's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where KAP'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 3.64% mean?
KAP (JSE:KAP) has a Return-on-Tangible-Asset of 3.64% 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 KAP and its competitors. This is 19% below median its historical median of 4.48. According to the industry distribution chart, KAP ranks #403 out of 568 companies in the Conglomerates industry, placing it in the top 71%.
Is KAP's Return-on-Tangible-Asset too high?
KAP's current Return-on-Tangible-Asset of 3.64% is 19% below median its 10-year median of 4.48. The Conglomerates industry median Return-on-Tangible-Asset is 2.74. KAP's value of 3.64% is 33.1% above this industry median. Based on the distribution chart, KAP ranks #403 out of 568 companies in the Conglomerates industry, which is below the industry midpoint. Overall, KAP has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KAP's Return-on-Tangible-Asset compare to HON and MMM?
According to the Conglomerates industry distribution chart, KAP ranks #403 out of 568 companies for Return-on-Tangible-Asset. This places KAP in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.74. KAP's value of 3.64% is 33.1% above this benchmark. While the company's 10-year median is 4.48 vs. the industry median of 2.74, KAP 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 Conglomerates company?
The median Return-on-Tangible-Asset among Conglomerates companies is 2.74, based on 568 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. KAP's current Return-on-Tangible-Asset of 3.64% is 33.1% 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 KAP and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Asset is 2.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KAP's current Return-on-Tangible-Asset is 3.64%, which is 19% below median its own 10-year median of 4.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KAP stock overvalued right now?
Based on GuruFocus' analysis, KAP (JSE:KAP) is currently considered Fairly Valued. The stock's GF Value™ is R2.62, compared to a current price of R2.75 — trading 5% above its estimated fair value. The current Return-on-Tangible-Asset is 3.64%, which is 19% below median its 10-year median of 4.48 and 33.1% above the Conglomerates industry median of 2.74. KAP's overall GF Score™ is 73/100 with 11 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 KAP (JSE:KAP), the current Return-on-Tangible-Asset is 3.64% 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 KAP (JSE:KAP) Overvalued in 2026?
Based on GuruFocus' analysis, KAP stock appears to be overvalued.
The current stock price of R2.75 is trading 5% above its estimated GF Value™ of R2.62.
GuruFocus considers KAP to be Fairly Valued.
Key valuation signals for JSE:KAP:
Return-on-Tangible-Asset: 3.64% (19% below median its 10-year median of 4.48)
GF Value™: R2.62 vs. price of R2.75 (5% above fair value)
Industry Position: 33.1% above the Conglomerates median (#403 of 568)
No single metric tells the full story. See the JSE:KAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KAP Ltd is a diversified group consisting of industrial, chemical, and logistics businesses, and road safety segments in sub-Saharan Africa. It operates through the following segments: PG Bison, Safripol, Unitrans, Feltex, Restonic, Optix, and Corporate. It generates the majority of its revenue from the Unitrans segment which is involved in a supply chain and operational services business providing customized solutions to customers in a diverse range of sectors, including consumer, agriculture, petrochemical, mining, and passenger transport.
73GF Score
Get the complete analysis for JSE:KAP
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
JSE:KAP has been successfully added to your 
