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Redefine PropertiesJSE:RDF +0.47%61 Return-on-Tangible-Asset is 6.85% as of Feb. 2026, which is 73% above its 10-year median of 3.96. GuruFocus rates JSE:RDF with a GF Score™ of 61/100 and a GF Value™ of R3.80 (Significantly Overvalued). The stock has 12 warning signs investors should review. Among 939 REITs companies, Redefine Properties ranks better than 72.52% 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. Redefine Properties's annualizedNet Income for the quarter that ended in Feb. 2026 was R7,206 Mil. Redefine Properties's average total tangible assets for the quarter that ended in Feb. 2026 was R105,181 Mil. Therefore, Redefine Properties's annualized Return-on-Tangible-Asset for the quarter that ended in Feb. 2026 was 6.85%.
The historical rank and industry rank for Redefine Properties's Return-on-Tangible-Asset or its related term are showing as below:
JSE:RDF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -18.55 Med: 3.96 Max: 10.34
Current: 5.98
During the past 13 years, Redefine Properties's highest Return-on-Tangible-Asset was 10.34%. The lowest was -18.55%. And the median was 3.96%.
JSE:RDF's Return-on-Tangible-Asset is ranked better than 72.52% of 939
companies
in the REITs industry
Industry Median: 3.24
vs JSE:RDF: 5.98
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.
Redefine Properties Return-on-Tangible-Asset Related Terms
Redefine Properties Return-on-Tangible-Asset Historical Data
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The historical data trend for Redefine Properties'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:RDF vs VICI, WPC: Return-on-Tangible-Asset Comparison
For the REIT - Diversified subindustry, Redefine Properties'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.
Redefine Properties Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, Redefine Properties's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Redefine Properties'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 6.85% mean?
Redefine Properties (JSE:RDF) has a Return-on-Tangible-Asset of 6.85% 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 Redefine Properties and its competitors. This is 73% above median its historical median of 3.96. According to the industry distribution chart, Redefine Properties ranks #258 out of 939 companies in the REITs industry, placing it in the top 27.5%.
Is Redefine Properties' Return-on-Tangible-Asset too high?
Redefine Properties' current Return-on-Tangible-Asset of 6.85% is 73% above median its 10-year median of 3.96. The REITs industry median Return-on-Tangible-Asset is 3.24. Redefine Properties' value of 6.85% is 111.4% above this industry median. Based on the distribution chart, Redefine Properties ranks #258 out of 939 companies in the REITs industry, which is above the industry midpoint. Overall, Redefine Properties has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Redefine Properties' Return-on-Tangible-Asset compare to VICI and WPC?
According to the REITs industry distribution chart, Redefine Properties ranks #258 out of 939 companies for Return-on-Tangible-Asset. This puts Redefine Properties in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.24. Redefine Properties' value of 6.85% is 111.4% above this benchmark. While the company's 10-year median is 3.96 vs. the industry median of 3.24, Redefine Properties 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.24, based on 939 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. Redefine Properties's current Return-on-Tangible-Asset of 6.85% is 111.4% 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 Redefine Properties and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Redefine Properties's current Return-on-Tangible-Asset is 6.85%, which is 73% above median its own 10-year median of 3.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Redefine Properties stock overvalued right now?
Based on GuruFocus' analysis, Redefine Properties (JSE:RDF) is currently considered Significantly Overvalued. The stock's GF Value™ is R3.80, compared to a current price of R6.44 — trading 69.5% above its estimated fair value. The current Return-on-Tangible-Asset is 6.85%, which is 73% above median its 10-year median of 3.96 and 111.4% above the REITs industry median of 3.24. Redefine Properties' overall GF Score™ is 61/100 with 12 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 Redefine Properties (JSE:RDF), the current Return-on-Tangible-Asset is 6.85% 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 Redefine Properties (JSE:RDF) Overvalued in 2026?
Based on GuruFocus' analysis, Redefine Properties stock appears to be overvalued.
The current stock price of R6.44 is trading 69.5% above its estimated GF Value™ of R3.80.
GuruFocus considers Redefine Properties to be Significantly Overvalued.
Key valuation signals for JSE:RDF:
Return-on-Tangible-Asset: 6.85% (73% above median its 10-year median of 3.96)
GF Value™: R3.80 vs. price of R6.44 (69.5% above fair value)
Industry Position: 111.4% above the REITs median (#258 of 939)
No single metric tells the full story. See the JSE:RDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Redefine Properties Ltd is a South African real estate investment trust involved in the ownership of office, retail, and industrial properties. The vast majority of Redefine's real estate portfolio is located in South Africa and Poland. Within South Africa, over half of the Company's properties by total value are situated in the province of Gauteng. The Group comprises the South Africa portfolio segment, including office, retail, industrial, specialised, and head office. Its international portfolio includes EPP, which is mainly retail; Redefine Europe, which is mainly industrial; Self Storage Investments, which is mainly self-storage; and Lango Real Estate, which represents the head office, along with head office funding related to international investments.
61GF Score
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