NICO HoldingsMSW:NICO -0.10%77 Return-on-Tangible-Asset is 5.08% as of Dec. 2025, which is 70% above its 10-year median of 2.99. GuruFocus rates MSW:NICO with a GF Score™ of 77/100 and a GF Value™ of MWK1,257.59 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 507 Insurance companies, NICO Holdings ranks better than 73.96% 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. NICO Holdings's annualizedNet Income for the quarter that ended in Dec. 2025 was MWK167,833 Mil. NICO Holdings's average total tangible assets for the quarter that ended in Dec. 2025 was MWK3,300,686 Mil. Therefore, NICO Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 5.08%.
The historical rank and industry rank for NICO Holdings's Return-on-Tangible-Asset or its related term are showing as below:
MSW:NICO'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.04 Med: 2.99 Max: 5.08
Current: 5.08
During the past 5 years, NICO Holdings's highest Return-on-Tangible-Asset was 5.08%. The lowest was 1.04%. And the median was 2.99%.
MSW:NICO's Return-on-Tangible-Asset is ranked better than 73.96% of 507
companies
in the Insurance industry
Industry Median: 2.78
vs MSW:NICO: 5.08
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.
NICO Holdings Return-on-Tangible-Asset Related Terms
NICO Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for NICO Holdings'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.
NICO Holdings Return-on-Tangible-Asset Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
Return-on-Tangible-Asset
0.00
1.04
1.92
4.05
5.08
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
Return-on-Tangible-Asset
0.00
1.04
1.92
4.05
5.08
MSW:NICO vs BRK.A, AIG, HIG: Return-on-Tangible-Asset Comparison
For the Insurance - Diversified subindustry, NICO Holdings'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.
NICO Holdings Return-on-Tangible-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NICO Holdings'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 one times the annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 5.08% mean?
NICO Holdings (MSW:NICO) has a Return-on-Tangible-Asset of 5.08% 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 NICO Holdings and its competitors. This is 70% above median its historical median of 2.99. Over the past decade, NICO Holdings' Return-on-Tangible-Asset has ranged from 1.04 to 5.08. According to the industry distribution chart, NICO Holdings ranks #132 out of 507 companies in the Insurance industry, placing it in the top 26%.
Is NICO Holdings' Return-on-Tangible-Asset too high?
NICO Holdings' current Return-on-Tangible-Asset of 5.08% is 70% above median its 10-year median of 2.99. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 5.08. The Insurance industry median Return-on-Tangible-Asset is 2.78. NICO Holdings' value of 5.08% is 82.7% above this industry median. Based on the distribution chart, NICO Holdings ranks #132 out of 507 companies in the Insurance industry, which is above the industry midpoint. Overall, NICO Holdings has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' Return-on-Tangible-Asset compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #132 out of 507 companies for Return-on-Tangible-Asset. This puts NICO Holdings in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.78. NICO Holdings' value of 5.08% is 82.7% above this benchmark. Historically, NICO Holdings' own Return-on-Tangible-Asset has ranged from 1.04 to 5.08 over the past decade. While the company's 10-year median is 2.99 vs. the industry median of 2.78, NICO Holdings 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 Insurance company?
The median Return-on-Tangible-Asset among Insurance companies is 2.78, based on 507 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. NICO Holdings's current Return-on-Tangible-Asset of 5.08% is 82.7% 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 NICO Holdings and its competitors. For the Insurance industry, the median Return-on-Tangible-Asset is 2.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current Return-on-Tangible-Asset is 5.08%, which is 70% above median its own 10-year median of 2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Modestly Overvalued. The stock's GF Value™ is MWK1,257.59, compared to a current price of MWK1,498.42 — trading 19.2% above its estimated fair value. The current Return-on-Tangible-Asset is 5.08%, which is 70% above median its 10-year median of 2.99 and 82.7% above the Insurance industry median of 2.78. NICO Holdings' overall GF Score™ is 77/100 with 3 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 NICO Holdings (MSW:NICO), the current Return-on-Tangible-Asset is 5.08% 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,498.42 is trading 19.2% above its estimated GF Value™ of MWK1,257.59.
GuruFocus considers NICO Holdings to be Modestly Overvalued.
Key valuation signals for MSW:NICO:
Return-on-Tangible-Asset: 5.08% (70% above median its 10-year median of 2.99)
GF Value™: MWK1,257.59 vs. price of MWK1,498.42 (19.2% above fair value)
Industry Position: 82.7% above the Insurance median (#132 of 507)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
77GF Score
Get the complete analysis for MSW:NICO
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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