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.
Pakistan Stock ExchangeKAR:PSX +1.63%72 Return-on-Tangible-Asset is 13.42% as of Mar. 2026, which is 494% above its 10-year median of 2.26. GuruFocus rates KAR:PSX with a GF Score™ of 72/100 and a GF Value™ of ₨28.44 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 816 Capital Markets companies, Pakistan Stock Exchange ranks better than 88.24% 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. Pakistan Stock Exchange's annualizedNet Income for the quarter that ended in Mar. 2026 was ₨1,942 Mil. Pakistan Stock Exchange's average total tangible assets for the quarter that ended in Mar. 2026 was ₨14,476 Mil. Therefore, Pakistan Stock Exchange's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 13.42%.
The historical rank and industry rank for Pakistan Stock Exchange's Return-on-Tangible-Asset or its related term are showing as below:
KAR:PSX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.57 Med: 2.26 Max: 13.93
Current: 13.93
During the past 13 years, Pakistan Stock Exchange's highest Return-on-Tangible-Asset was 13.93%. The lowest was 0.57%. And the median was 2.26%.
KAR:PSX's Return-on-Tangible-Asset is ranked better than 88.24% of 816
companies
in the Capital Markets industry
Industry Median: 1.545
vs KAR:PSX: 13.93
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.
Pakistan Stock Exchange Return-on-Tangible-Asset Related Terms
Pakistan Stock Exchange Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Pakistan Stock Exchange'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.
KAR:PSX vs SPGI, CME, ICE: Return-on-Tangible-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, Pakistan Stock Exchange'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.
Pakistan Stock Exchange Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Pakistan Stock Exchange's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Pakistan Stock Exchange'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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 13.42% mean?
Pakistan Stock Exchange (KAR:PSX) has a Return-on-Tangible-Asset of 13.42% 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 Pakistan Stock Exchange and its competitors. This is 494% above median its historical median of 2.26. Over the past decade, Pakistan Stock Exchange's Return-on-Tangible-Asset has ranged from 0.57 to 13.93. According to the industry distribution chart, Pakistan Stock Exchange ranks #96 out of 816 companies in the Capital Markets industry, placing it in the top 11.8%.
Is Pakistan Stock Exchange's Return-on-Tangible-Asset too high?
Pakistan Stock Exchange's current Return-on-Tangible-Asset of 13.42% is 494% above median its 10-year median of 2.26. Over the past 10 years, this metric has ranged from a low of 0.57 to a high of 13.93. The Capital Markets industry median Return-on-Tangible-Asset is 1.55. Pakistan Stock Exchange's value of 13.42% is 768.6% above this industry median. Based on the distribution chart, Pakistan Stock Exchange ranks #96 out of 816 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Pakistan Stock Exchange has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pakistan Stock Exchange's Return-on-Tangible-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Pakistan Stock Exchange ranks #96 out of 816 companies for Return-on-Tangible-Asset. This places Pakistan Stock Exchange in the top 12% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.55. Pakistan Stock Exchange's value of 13.42% is 768.6% above this benchmark. Historically, Pakistan Stock Exchange's own Return-on-Tangible-Asset has ranged from 0.57 to 13.93 over the past decade. While the company's 10-year median is 2.26 vs. the industry median of 1.55, Pakistan Stock Exchange 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.55, based on 816 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. Pakistan Stock Exchange's current Return-on-Tangible-Asset of 13.42% is 768.6% 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 Pakistan Stock Exchange and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pakistan Stock Exchange's current Return-on-Tangible-Asset is 13.42%, which is 494% above median its own 10-year median of 2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pakistan Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, Pakistan Stock Exchange (KAR:PSX) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨28.44, compared to a current price of ₨49.82 — trading 75.2% above its estimated fair value. The current Return-on-Tangible-Asset is 13.42%, which is 494% above median its 10-year median of 2.26 and 768.6% above the Capital Markets industry median of 1.55. Pakistan Stock Exchange's overall GF Score™ is 72/100 with 4 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 Pakistan Stock Exchange (KAR:PSX), the current Return-on-Tangible-Asset is 13.42% 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 Pakistan Stock Exchange (KAR:PSX) Overvalued in 2026?
Based on GuruFocus' analysis, Pakistan Stock Exchange stock appears to be overvalued.
The current stock price of ₨49.82 is trading 75.2% above its estimated GF Value™ of ₨28.44.
GuruFocus considers Pakistan Stock Exchange to be Significantly Overvalued.
Key valuation signals for KAR:PSX:
Return-on-Tangible-Asset: 13.42% (494% above median its 10-year median of 2.26)
GF Value™: ₨28.44 vs. price of ₨49.82 (75.2% above fair value)
Industry Position: 768.6% above the Capital Markets median (#96 of 816)
No single metric tells the full story. See the KAR:PSX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pakistan Stock Exchange Ltd is engaged in conducting, regulating and controlling the trade or business of purchasing, selling and trading in debentures stock, government papers, shares, scrips, stocks, bonds, loans, and any other instruments and securities. The products of the company involve Equity Segments, known as Ready Market (T+2), Bills & Bonds (for trading in government debt securities & corporate debt), Futures Counter, Deliverable Futures Contracts, Stock Index Futures, Negotiated Deal Market, REIT, Exchange Traded Funds and GEM Board.
72GF Score
Get the complete analysis for KAR:PSX
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
KAR:PSX has been successfully added to your 
