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AJ BellLSE:AJB -0.08%98 Return-on-Tangible-Asset is 48.20% as of Mar. 2026, which is 48% above its 10-year median of 32.50. GuruFocus rates LSE:AJB with a GF Score™ of 98/100 and a GF Value™ of £5.93 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,637 Asset Management companies, AJ Bell ranks better than 97.43% 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. AJ Bell's annualizedNet Income for the quarter that ended in Mar. 2026 was £138.3 Mil. AJ Bell's average total tangible assets for the quarter that ended in Mar. 2026 was £287.0 Mil. Therefore, AJ Bell's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 48.20%.
The historical rank and industry rank for AJ Bell's Return-on-Tangible-Asset or its related term are showing as below:
LSE:AJB'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 22.95 Med: 32.5 Max: 44.15
Current: 44.15
During the past 10 years, AJ Bell's highest Return-on-Tangible-Asset was 44.15%. The lowest was 22.95%. And the median was 32.50%.
LSE:AJB's Return-on-Tangible-Asset is ranked better than 97.43% of 1637
companies
in the Asset Management industry
Industry Median: 4.23
vs LSE:AJB: 44.15
AJ Bell (LSE:AJB) 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.
AJ Bell Return-on-Tangible-Asset Related Terms
AJ Bell Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for AJ Bell'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.
LSE:AJB vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, AJ Bell'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.
AJ Bell Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, AJ Bell's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where AJ Bell'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 48.20% mean?
AJ Bell (LSE:AJB) has a Return-on-Tangible-Asset of 48.20% 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 AJ Bell and its competitors. This is 48% above median its historical median of 32.50. Over the past decade, AJ Bell's Return-on-Tangible-Asset has ranged from 22.95 to 44.15. According to the industry distribution chart, AJ Bell ranks #42 out of 1637 companies in the Asset Management industry, placing it in the top 2.6%.
Is AJ Bell's Return-on-Tangible-Asset too high?
AJ Bell's current Return-on-Tangible-Asset of 48.20% is 48% above median its 10-year median of 32.50. Over the past 10 years, this metric has ranged from a low of 22.95 to a high of 44.15. The Asset Management industry median Return-on-Tangible-Asset is 4.23. AJ Bell's value of 48.20% is 1039.5% above this industry median. Based on the distribution chart, AJ Bell ranks #42 out of 1637 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, AJ Bell has a GF Score™ of 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does AJ Bell's Return-on-Tangible-Asset compare to BLK and BX?
According to the Asset Management industry distribution chart, AJ Bell ranks #42 out of 1637 companies for Return-on-Tangible-Asset. This places AJ Bell in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 4.23. AJ Bell's value of 48.20% is 1039.5% above this benchmark. Historically, AJ Bell's own Return-on-Tangible-Asset has ranged from 22.95 to 44.15 over the past decade. While the company's 10-year median is 32.50 vs. the industry median of 4.23, AJ Bell 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 an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.23, based on 1,637 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. AJ Bell's current Return-on-Tangible-Asset of 48.20% is 1039.5% 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 AJ Bell and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AJ Bell's current Return-on-Tangible-Asset is 48.20%, which is 48% above median its own 10-year median of 32.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AJ Bell stock overvalued right now?
Based on GuruFocus' analysis, AJ Bell (LSE:AJB) is currently considered Fairly Valued. The stock's GF Value™ is £5.93, compared to a current price of £5.96 — trading 0.5% above its estimated fair value. The current Return-on-Tangible-Asset is 48.20%, which is 48% above median its 10-year median of 32.50 and 1039.5% above the Asset Management industry median of 4.23. AJ Bell's overall GF Score™ is 98/100 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 AJ Bell (LSE:AJB), the current Return-on-Tangible-Asset is 48.20% 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 AJ Bell (LSE:AJB) Overvalued in 2026?
Based on GuruFocus' analysis, AJ Bell stock appears to be overvalued.
The current stock price of £5.96 is trading 0.5% above its estimated GF Value™ of £5.93.
GuruFocus considers AJ Bell to be Fairly Valued.
Key valuation signals for LSE:AJB:
Return-on-Tangible-Asset: 48.20% (48% above median its 10-year median of 32.50)
GF Value™: £5.93 vs. price of £5.96 (0.5% above fair value)
Industry Position: 1039.5% above the Asset Management median (#42 of 1637)
No single metric tells the full story. See the LSE:AJB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AJ Bell PLC is an investment platform in the United Kingdom. The Group has a single operating segment, being investment services in the advised and D2C space, administering investments in SIPPs, ISAs, and General Investment / Dealing Accounts. SIPPs and ISAs, Lifetime ISA, and junior products. The company generates revenue from recurring ad valorem, which includes custody fees, interest income, and investment management fees, and transactional. The company earns its revenue from its domicile country United Kingdom.
98GF Score
Get the complete analysis for LSE:AJB
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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