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Rai Way SpAMIL:RWAY -0.11%82 Return-on-Tangible-Asset is 19.60% as of Mar. 2026, which is 1% below its 10-year median of 19.84. GuruFocus rates MIL:RWAY with a GF Score™ of 82/100 and a GF Value™ of €5.68 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,783 Construction companies, Rai Way SpA ranks better than 96.75% 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. Rai Way SpA's annualizedNet Income for the quarter that ended in Mar. 2026 was €86.3 Mil. Rai Way SpA's average total tangible assets for the quarter that ended in Mar. 2026 was €440.5 Mil. Therefore, Rai Way SpA's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 19.60%.
The historical rank and industry rank for Rai Way SpA's Return-on-Tangible-Asset or its related term are showing as below:
MIL:RWAY'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 11.15 Med: 19.84 Max: 20.77
Current: 19.9
During the past 13 years, Rai Way SpA's highest Return-on-Tangible-Asset was 20.77%. The lowest was 11.15%. And the median was 19.84%.
MIL:RWAY's Return-on-Tangible-Asset is ranked better than 96.75% of 1783
companies
in the Construction industry
Industry Median: 3.04
vs MIL:RWAY: 19.90
Rai Way SpA (MIL:RWAY) 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.
Rai Way SpA Return-on-Tangible-Asset Related Terms
Rai Way SpA Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Rai Way SpA'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.
MIL:RWAY vs PWR, FIX, EME: Return-on-Tangible-Asset Comparison
For the Engineering & Construction subindustry, Rai Way SpA'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.
Rai Way SpA Return-on-Tangible-Asset vs Construction Industry
For the Construction industry and Industrials sector, Rai Way SpA's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Rai Way SpA'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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 19.60% mean?
Rai Way SpA (MIL:RWAY) has a Return-on-Tangible-Asset of 19.60% 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 Rai Way SpA and its competitors. This is near median its historical median of 19.84. Over the past decade, Rai Way SpA's Return-on-Tangible-Asset has ranged from 11.15 to 20.77. According to the industry distribution chart, Rai Way SpA ranks #58 out of 1783 companies in the Construction industry, placing it in the top 3.3%.
Is Rai Way SpA's Return-on-Tangible-Asset too high?
Rai Way SpA's current Return-on-Tangible-Asset of 19.60% is near median its 10-year median of 19.84. Over the past 10 years, this metric has ranged from a low of 11.15 to a high of 20.77. The Construction industry median Return-on-Tangible-Asset is 3.04. Rai Way SpA's value of 19.60% is 544.7% above this industry median. Based on the distribution chart, Rai Way SpA ranks #58 out of 1783 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Rai Way SpA has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Rai Way SpA's Return-on-Tangible-Asset compare to PWR and FIX?
According to the Construction industry distribution chart, Rai Way SpA ranks #58 out of 1783 companies for Return-on-Tangible-Asset. This places Rai Way SpA in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.04. Rai Way SpA's value of 19.60% is 544.7% above this benchmark. Historically, Rai Way SpA's own Return-on-Tangible-Asset has ranged from 11.15 to 20.77 over the past decade. While the company's 10-year median is 19.84 vs. the industry median of 3.04, Rai Way SpA 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 a Construction company?
The median Return-on-Tangible-Asset among Construction companies is 3.04, based on 1,783 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. Rai Way SpA's current Return-on-Tangible-Asset of 19.60% is 544.7% 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 Rai Way SpA and its competitors. For the Construction industry, the median Return-on-Tangible-Asset is 3.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rai Way SpA's current Return-on-Tangible-Asset is 19.60%, which is near median its own 10-year median of 19.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rai Way SpA stock overvalued right now?
Based on GuruFocus' analysis, Rai Way SpA (MIL:RWAY) is currently considered Modestly Undervalued. The stock's GF Value™ is €5.68, compared to a current price of €4.65 — trading 18.2% below its estimated fair value. The current Return-on-Tangible-Asset is 19.60%, which is near median its 10-year median of 19.84 and 544.7% above the Construction industry median of 3.04. Rai Way SpA's overall GF Score™ is 82/100 with 2 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 Rai Way SpA (MIL:RWAY), the current Return-on-Tangible-Asset is 19.60% 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 Rai Way SpA (MIL:RWAY) Overvalued in 2026?
Based on GuruFocus' analysis, Rai Way SpA stock appears to be undervalued.
The current stock price of €4.65 is trading 18.2% below its estimated GF Value™ of €5.68.
GuruFocus considers Rai Way SpA to be Modestly Undervalued.
Key valuation signals for MIL:RWAY:
Return-on-Tangible-Asset: 19.60% (near median its 10-year median of 19.84)
GF Value™: €5.68 vs. price of €4.65 (18.2% below fair value)
Industry Position: 544.7% above the Construction median (#58 of 1783)
No single metric tells the full story. See the MIL:RWAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rai Way SpA is an Italy-based company which operates activity of signal transmission and a broadcasting network of RAI group. The services provided by the company include broadcasting services, transmission services, tower Rental Services and network Services. The company serves its customer by providing implementation and management of the main broadcasting processes which include analog and digital, terrestrial and satellite, for audio, video and data signals, television signals through connecting network. The company allows its clients to have the availability of tower and civil infrastructures to install radio transmitters, planning, construction, installation, management of electronic and telecommunications networks. It provides services throughout Italy.
82GF Score
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