Northcoders GroupLSE:CODE 39 Return-on-Tangible-Asset is -176.10% as of Dec. 2025. GuruFocus rates LSE:CODE with a GF Score™ of 39/100 and a GF Value™ of £0.96 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 263 Education companies, Northcoders Group ranks worse than 98.1% 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. Northcoders Group's annualizedNet Income for the quarter that ended in Dec. 2025 was £-6.20 Mil. Northcoders Group's average total tangible assets for the quarter that ended in Dec. 2025 was £3.52 Mil. Therefore, Northcoders Group's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -176.10%.
The historical rank and industry rank for Northcoders Group's Return-on-Tangible-Asset or its related term are showing as below:
LSE:CODE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -98.34 Med: -4.47 Max: 41.82
Current: -85.21
During the past 8 years, Northcoders Group's highest Return-on-Tangible-Asset was 41.82%. The lowest was -98.34%. And the median was -4.47%.
LSE:CODE's Return-on-Tangible-Asset is ranked worse than 98.1% of 263
companies
in the Education industry
Industry Median: 4.31
vs LSE:CODE: -85.21
Northcoders Group (LSE:CODE) 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.
Northcoders Group Return-on-Tangible-Asset Related Terms
Northcoders Group Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Northcoders Group'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:CODE vs EDU, TAL, LAUR: Return-on-Tangible-Asset Comparison
For the Education & Training Services subindustry, Northcoders Group'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.
Northcoders Group Return-on-Tangible-Asset vs Education Industry
For the Education industry and Consumer Defensive sector, Northcoders Group's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Northcoders Group'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 -176.10% mean?
Northcoders Group (LSE:CODE) has a Return-on-Tangible-Asset of -176.10% 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 Northcoders Group and its competitors. According to the industry distribution chart, Northcoders Group ranks #258 out of 263 companies in the Education industry, placing it in the top 98.1%.
Is Northcoders Group's Return-on-Tangible-Asset too high?
Northcoders Group's current Return-on-Tangible-Asset is -176.10%. Based on the distribution chart, Northcoders Group ranks #258 out of 263 companies in the Education industry, which is in the bottom quartile relative to peers. Overall, Northcoders Group has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northcoders Group's Return-on-Tangible-Asset compare to EDU and TAL?
According to the Education industry distribution chart, Northcoders Group ranks #258 out of 263 companies for Return-on-Tangible-Asset. This places Northcoders Group in the lower half of its industry. The industry median Return-on-Tangible-Asset is 4.31. 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 Education company?
The median Return-on-Tangible-Asset among Education companies is 4.31, based on 263 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. 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 Northcoders Group and its competitors. For the Education industry, the median Return-on-Tangible-Asset is 4.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northcoders Group's current Return-on-Tangible-Asset is -176.10%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northcoders Group stock overvalued right now?
Based on GuruFocus' analysis, Northcoders Group (LSE:CODE) is currently considered Possible Value Trap. The stock's GF Value™ is £0.96, compared to a current price of £0.20 — trading 79.7% below its estimated fair value. The current Return-on-Tangible-Asset is -176.10%. Northcoders Group's overall GF Score™ is 39/100 with 7 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 Northcoders Group (LSE:CODE), the current Return-on-Tangible-Asset is -176.10% 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 Northcoders Group (LSE:CODE) Overvalued in 2026?
Based on GuruFocus' analysis, Northcoders Group stock appears to be undervalued.
The current stock price of £0.20 is trading 79.7% below its estimated GF Value™ of £0.96.
GuruFocus considers Northcoders Group to be Possible Value Trap.
Key valuation signals for LSE:CODE:
Return-on-Tangible-Asset: -176.10%
GF Value™: £0.96 vs. price of £0.20 (79.7% below fair value)
No single metric tells the full story. See the LSE:CODE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northcoders Group PLC is an independent provider of training programs for software coding. It offers a range of training and software development solutions to individual and corporate customers. Its offering includes bootcamp training courses, government-funded apprenticeships, bespoke training courses, and software development solutions.
39GF Score
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