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.
JPMorgan American Investment TrustLSE:JAM -1.64%49 Return-on-Tangible-Asset is 17.65% as of Dec. 2025, which is 6% below its 10-year median of 18.80. GuruFocus rates LSE:JAM with a GF Score™ of 49/100 and a GF Value™ of £2.72 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,633 Asset Management companies, JPMorgan American Investment Trust ranks worse than 51.13% on this metric.
The historical rank and industry rank for JPMorgan American Investment Trust's Return-on-Tangible-Asset or its related term are showing as below:
LSE:JAM'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -9.53 Med: 18.8 Max: 25.42
Current: 4.02
During the past 13 years, JPMorgan American Investment Trust's highest Return-on-Tangible-Asset was 25.42%. The lowest was -9.53%. And the median was 18.80%.
LSE:JAM's Return-on-Tangible-Asset is ranked worse than 51.13% of 1633
companies
in the Asset Management industry
Industry Median: 4.24
vs LSE:JAM: 4.02
JPMorgan American Investment Trust (LSE:JAM) 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.
JPMorgan American Investment Trust Return-on-Tangible-Asset Related Terms
JPMorgan American Investment Trust Return-on-Tangible-Asset Historical Data
* 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.
JPMorgan American Investment Trust Return-on-Tangible-Asset Chart
LSE:JAM vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, JPMorgan American Investment Trust'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.
JPMorgan American Investment Trust Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, JPMorgan American Investment Trust's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where JPMorgan American Investment Trust'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 17.65% mean?
JPMorgan American Investment Trust (LSE:JAM) has a Return-on-Tangible-Asset of 17.65% 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 JPMorgan American Investment Trust and its competitors. This is near median its historical median of 18.80. According to the industry distribution chart, JPMorgan American Investment Trust ranks #835 out of 1633 companies in the Asset Management industry, placing it in the top 51.1%.
Is JPMorgan American Investment Trust's Return-on-Tangible-Asset too high?
JPMorgan American Investment Trust's current Return-on-Tangible-Asset of 17.65% is near median its 10-year median of 18.80. The Asset Management industry median Return-on-Tangible-Asset is 4.24. JPMorgan American Investment Trust's value of 17.65% is 316.3% above this industry median. Based on the distribution chart, JPMorgan American Investment Trust ranks #835 out of 1633 companies in the Asset Management industry, which is below the industry midpoint. Overall, JPMorgan American Investment Trust has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JPMorgan American Investment Trust's Return-on-Tangible-Asset compare to BLK and BX?
According to the Asset Management industry distribution chart, JPMorgan American Investment Trust ranks #835 out of 1633 companies for Return-on-Tangible-Asset. This places JPMorgan American Investment Trust in the lower half of its industry. The industry median Return-on-Tangible-Asset is 4.24. JPMorgan American Investment Trust's value of 17.65% is 316.3% above this benchmark. While the company's 10-year median is 18.80 vs. the industry median of 4.24, JPMorgan American Investment Trust 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 4.24, based on 1,633 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. JPMorgan American Investment Trust's current Return-on-Tangible-Asset of 17.65% is 316.3% 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 JPMorgan American Investment Trust and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JPMorgan American Investment Trust's current Return-on-Tangible-Asset is 17.65%, which is near median its own 10-year median of 18.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JPMorgan American Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, JPMorgan American Investment Trust (LSE:JAM) is currently considered Significantly Overvalued. The stock's GF Value™ is £2.72, compared to a current price of £12.02 — trading 341.9% above its estimated fair value. The current Return-on-Tangible-Asset is 17.65%, which is near median its 10-year median of 18.80 and 316.3% above the Asset Management industry median of 4.24. JPMorgan American Investment Trust's overall GF Score™ is 49/100 with 6 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 JPMorgan American Investment Trust (LSE:JAM), the current Return-on-Tangible-Asset is 17.65% 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 JPMorgan American Investment Trust (LSE:JAM) Overvalued in 2026?
Based on GuruFocus' analysis, JPMorgan American Investment Trust stock appears to be overvalued.
The current stock price of £12.02 is trading 341.9% above its estimated GF Value™ of £2.72.
GuruFocus considers JPMorgan American Investment Trust to be Significantly Overvalued.
Key valuation signals for LSE:JAM:
Return-on-Tangible-Asset: 17.65% (near median its 10-year median of 18.80)
GF Value™: £2.72 vs. price of £12.02 (341.9% above fair value)
Industry Position: 316.3% above the Asset Management median (#835 of 1633)
No single metric tells the full story. See the LSE:JAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JPMorgan American Investment Trust Business Description
JPMorgan American Investment Trust PLC is a UK-based investment trust company. Its investment objective is to provide shareholders with capital growth from North American investments. The company seeks to achieve determined objectives and to manage risk by investing in the diversified portfolio of quoted companies, including smaller capitalization stocks and pooled funds. The company reviews its performance against its benchmark S&P 500 Index, expressed in sterling total return terms.
49GF Score
Get the complete analysis for LSE:JAM
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
LSE:JAM has been successfully added to your 
