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Magnitogorsk Iron & Steel Works PJSC (MIC:MAGN) Return-on-Tangible-Asset : 15.45% (As of Dec. 2023)


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What is Magnitogorsk Iron & Steel Works PJSC Return-on-Tangible-Asset?

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. Magnitogorsk Iron & Steel Works PJSC's annualized Net Income for the quarter that ended in Dec. 2023 was ₽132,888 Mil. Magnitogorsk Iron & Steel Works PJSC's average total tangible assets for the quarter that ended in Dec. 2023 was ₽860,101 Mil. Therefore, Magnitogorsk Iron & Steel Works PJSC's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 15.45%.

The historical rank and industry rank for Magnitogorsk Iron & Steel Works PJSC's Return-on-Tangible-Asset or its related term are showing as below:

MIC:MAGN's Return-on-Tangible-Asset is not ranked *
in the Steel industry.
Industry Median: 2.02
* Ranked among companies with meaningful Return-on-Tangible-Asset only.

Magnitogorsk Iron & Steel Works PJSC Return-on-Tangible-Asset Historical Data

The historical data trend for Magnitogorsk Iron & Steel Works PJSC'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.

* Premium members only.

Magnitogorsk Iron & Steel Works PJSC Return-on-Tangible-Asset Chart

Magnitogorsk Iron & Steel Works PJSC Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Return-on-Tangible-Asset
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.44 8.17 36.13 9.65 14.47

Magnitogorsk Iron & Steel Works PJSC Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Return-on-Tangible-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 35.73 15.75 3.69 13.29 15.45

Competitive Comparison of Magnitogorsk Iron & Steel Works PJSC's Return-on-Tangible-Asset

For the Steel subindustry, Magnitogorsk Iron & Steel Works PJSC'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.


Magnitogorsk Iron & Steel Works PJSC's Return-on-Tangible-Asset Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Magnitogorsk Iron & Steel Works PJSC's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Magnitogorsk Iron & Steel Works PJSC's Return-on-Tangible-Asset falls into.


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Magnitogorsk Iron & Steel Works PJSC Return-on-Tangible-Asset Calculation

Magnitogorsk Iron & Steel Works PJSC's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=118177/( (735140+898178)/ 2 )
=118177/816659
=14.47 %

Magnitogorsk Iron & Steel Works PJSC's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Jun. 2023 )(Q: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Jun. 2023 )(Q: Dec. 2023 )
=132888/( (822023+898178)/ 2 )
=132888/860100.5
=15.45 %

* 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. 2023) net income data.


Magnitogorsk Iron & Steel Works PJSC  (MIC:MAGN) 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 company’s 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 company’s 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.


Magnitogorsk Iron & Steel Works PJSC Return-on-Tangible-Asset Related Terms

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Magnitogorsk Iron & Steel Works PJSC Business Description

Traded in Other Exchanges
N/A
Address
93, Kirov Street, Chelyabinsk region, Magnitogorsk, RUS, 455000
Magnitogorsk Iron & Steel Works PJSC is a steel producer in Russia. The company's output includes a broad range of steel products with a portion being high-value-added. In Russia, the company operates a large steel-producing complex encompassing the entire production chain from iron-ore processing to downstream production of rolled steel. The company sells the majority of its metal products in Russia. The company's financial results are divided into three segments: the Russian steel segment; the Turkish steel segment; and the coal segment. The steel segment accounts for the vast majority of the company's revenue.