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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. NCS Multistage Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was $-1.5 Mil. NCS Multistage Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was $155.7 Mil. Therefore, NCS Multistage Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -0.95%.
The historical rank and industry rank for NCS Multistage Holdings's Return-on-Tangible-Asset or its related term are showing as below:
NCSM'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -126.61 Med: -3.25 Max: 16.23
Current: 13.3
During the past 11 years, NCS Multistage Holdings's highest Return-on-Tangible-Asset was 16.23%. The lowest was -126.61%. And the median was -3.25%.
NCSM's Return-on-Tangible-Asset is ranked better than 90.36% of 1027
companies
in the Oil & Gas industry
Industry Median: 2.04
vs NCSM: 13.30
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.
NCS Multistage Holdings Return-on-Tangible-Asset Related Terms
NCS Multistage Holdings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for NCS Multistage 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.
NCSM vs DWSN, GEOS, DTI: Return-on-Tangible-Asset Comparison
For the Oil & Gas Equipment & Services subindustry, NCS Multistage 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.
NCS Multistage Holdings Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NCS Multistage Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NCS Multistage 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 four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -0.95% mean?
NCS Multistage Holdings (NCSM) has a Return-on-Tangible-Asset of -0.95% 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 NCS Multistage Holdings and its competitors. According to the industry distribution chart, NCS Multistage Holdings ranks #99 out of 1027 companies in the Oil & Gas industry, placing it in the top 9.6%.
Is NCS Multistage Holdings' Return-on-Tangible-Asset too high?
NCS Multistage Holdings' current Return-on-Tangible-Asset is -0.95%. Based on the distribution chart, NCS Multistage Holdings ranks #99 out of 1027 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, NCS Multistage Holdings has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NCS Multistage Holdings' Return-on-Tangible-Asset compare to DWSN and GEOS?
According to the Oil & Gas industry distribution chart, NCS Multistage Holdings ranks #99 out of 1027 companies for Return-on-Tangible-Asset. This places NCS Multistage Holdings in the top 10% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.04. 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 Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.04, based on 1,027 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. 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 NCS Multistage Holdings and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NCS Multistage Holdings's current Return-on-Tangible-Asset is -0.95%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NCS Multistage Holdings stock overvalued right now?
Based on GuruFocus' analysis, NCS Multistage Holdings (NCSM) is currently considered Significantly Overvalued. The stock's GF Value™ is $26.26, compared to a current price of $44.55 — trading 69.6% above its estimated fair value. The current Return-on-Tangible-Asset is -0.95%. NCS Multistage Holdings' overall GF Score™ is 64/100 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 NCS Multistage Holdings (NCSM), the current Return-on-Tangible-Asset is -0.95% 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 NCS Multistage Holdings (NCSM) Overvalued in 2026?
Based on GuruFocus' analysis, NCS Multistage Holdings stock appears to be overvalued.
The current stock price of $44.55 is trading 69.6% above its estimated GF Value™ of $26.26.
GuruFocus considers NCS Multistage Holdings to be Significantly Overvalued.
Key valuation signals for NCSM:
Return-on-Tangible-Asset: -0.95%
GF Value™: $26.26 vs. price of $44.55 (69.6% above fair value)
No single metric tells the full story. See the NCSM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NCS Multistage Holdings Inc is a provider of engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completion, and field development strategies. The company provides its products and services to E&P companies for use in onshore and offshore wells, predominantly those drilled with horizontal laterals in unconventional and conventional oil and natural gas formations. It also provides tracer diagnostics services and sells products for well construction including casing buoyancy systems, liner hanger systems and toe initiation sleeves, along with certain complementary products from third parties. The company operates in the United States, Canada and other countries, with the majority of its revenue generated from Canada.
64GF Score
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