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Polar Capital Technology TrustLSE:PCT -2.27%54 Return-on-Tangible-Asset is 37.74% as of Apr. 2026, which is 86% above its 10-year median of 20.32. GuruFocus rates LSE:PCT with a GF Score™ of 54/100 and a GF Value™ of £12.15 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,633 Asset Management companies, Polar Capital Technology Trust ranks better than 98.78% on this metric.
The historical rank and industry rank for Polar Capital Technology Trust's Return-on-Tangible-Asset or its related term are showing as below:
LSE:PCT'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -7.77 Med: 20.32 Max: 65.72
Current: 63.78
During the past 13 years, Polar Capital Technology Trust's highest Return-on-Tangible-Asset was 65.72%. The lowest was -7.77%. And the median was 20.32%.
LSE:PCT's Return-on-Tangible-Asset is ranked better than 98.78% of 1633
companies
in the Asset Management industry
Industry Median: 4.24
vs LSE:PCT: 63.78
Polar Capital Technology Trust (LSE:PCT) 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.
Polar Capital Technology Trust Return-on-Tangible-Asset Related Terms
Polar Capital Technology 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.
Polar Capital Technology Trust Return-on-Tangible-Asset Chart
LSE:PCT vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Polar Capital Technology 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.
Polar Capital Technology Trust Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Polar Capital Technology Trust's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Polar Capital Technology 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 (Apr. 2026) net income data.
What does a Return-on-Tangible-Asset of 37.74% mean?
Polar Capital Technology Trust (LSE:PCT) has a Return-on-Tangible-Asset of 37.74% as of Apr. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Polar Capital Technology Trust and its competitors. This is 86% above median its historical median of 20.32. According to the industry distribution chart, Polar Capital Technology Trust ranks #20 out of 1633 companies in the Asset Management industry, placing it in the top 1.2%.
Is Polar Capital Technology Trust's Return-on-Tangible-Asset too high?
Polar Capital Technology Trust's current Return-on-Tangible-Asset of 37.74% is 86% above median its 10-year median of 20.32. The Asset Management industry median Return-on-Tangible-Asset is 4.24. Polar Capital Technology Trust's value of 37.74% is 790.1% above this industry median. Based on the distribution chart, Polar Capital Technology Trust ranks #20 out of 1633 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Polar Capital Technology Trust has a GF Score™ of 54/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Polar Capital Technology Trust's Return-on-Tangible-Asset compare to BLK and BX?
According to the Asset Management industry distribution chart, Polar Capital Technology Trust ranks #20 out of 1633 companies for Return-on-Tangible-Asset. This places Polar Capital Technology Trust in the top 1% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 4.24. Polar Capital Technology Trust's value of 37.74% is 790.1% above this benchmark. While the company's 10-year median is 20.32 vs. the industry median of 4.24, Polar Capital Technology 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. Polar Capital Technology Trust's current Return-on-Tangible-Asset of 37.74% is 790.1% 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 Polar Capital Technology 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. Polar Capital Technology Trust's current Return-on-Tangible-Asset is 37.74%, which is 86% above median its own 10-year median of 20.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Polar Capital Technology Trust stock overvalued right now?
Based on GuruFocus' analysis, Polar Capital Technology Trust (LSE:PCT) is currently considered Possible Value Trap. The stock's GF Value™ is £12.15, compared to a current price of £6.46 — trading 46.8% below its estimated fair value. The current Return-on-Tangible-Asset is 37.74%, which is 86% above median its 10-year median of 20.32 and 790.1% above the Asset Management industry median of 4.24. Polar Capital Technology Trust's overall GF Score™ is 54/100 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 Polar Capital Technology Trust (LSE:PCT), the current Return-on-Tangible-Asset is 37.74% as of Apr. 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 Polar Capital Technology Trust (LSE:PCT) Overvalued in 2026?
Based on GuruFocus' analysis, Polar Capital Technology Trust stock appears to be undervalued.
The current stock price of £6.46 is trading 46.8% below its estimated GF Value™ of £12.15.
GuruFocus considers Polar Capital Technology Trust to be Possible Value Trap.
Key valuation signals for LSE:PCT:
Return-on-Tangible-Asset: 37.74% (86% above median its 10-year median of 20.32)
GF Value™: £12.15 vs. price of £6.46 (46.8% below fair value)
Industry Position: 790.1% above the Asset Management median (#20 of 1633)
No single metric tells the full story. See the LSE:PCT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Polar Capital Technology Trust Business Description
Polar Capital Technology Trust PLC is a UK-based investment trust company. The company has an investment objective to achieve long-term capital growth by investing in a diversified portfolio of technology companies world-wide. Geographically, the company generates investment income from North America, Europe, and the Asia Pacific region. It invests in sectors such as Software, Interactive Media and Services, Semiconductors and Semiconductor Equipment, Technology Hardware, Storage and Peripherals, Internet and Direct Marketing Retail, IT Services, Entertainment, and others.
54GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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