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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. NGL Energy Partners LP's annualizedNet Income for the quarter that ended in Mar. 2026 was $-1,151 Mil. NGL Energy Partners LP's average total tangible assets for the quarter that ended in Mar. 2026 was $2,991 Mil. Therefore, NGL Energy Partners LP's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -38.47%.
The historical rank and industry rank for NGL Energy Partners LP's Return-on-Tangible-Asset or its related term are showing as below:
NGL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -16.34 Med: -2.93 Max: 8.97
Current: -4.82
During the past 13 years, NGL Energy Partners LP's highest Return-on-Tangible-Asset was 8.97%. The lowest was -16.34%. And the median was -2.93%.
NGL's Return-on-Tangible-Asset is ranked worse than 72.75% of 1024
companies
in the Oil & Gas industry
Industry Median: 2.08
vs NGL: -4.82
NGL Energy Partners LP (NYSE:NGL) 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.
NGL Energy Partners LP Return-on-Tangible-Asset Related Terms
NGL Energy Partners LP Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for NGL Energy Partners LP'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.
NGL Energy Partners LP Return-on-Tangible-Asset Chart
NGL vs GEL, TNK, FLNG: Return-on-Tangible-Asset Comparison
For the Oil & Gas Midstream subindustry, NGL Energy Partners LP'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.
NGL Energy Partners LP Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NGL Energy Partners LP's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NGL Energy Partners LP'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 -38.47% mean?
NGL Energy Partners LP (NGL) has a Return-on-Tangible-Asset of -38.47% 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 NGL Energy Partners LP and its competitors. According to the industry distribution chart, NGL Energy Partners LP ranks #745 out of 1024 companies in the Oil & Gas industry, placing it in the top 72.8%.
Is NGL Energy Partners LP's Return-on-Tangible-Asset too high?
NGL Energy Partners LP's current Return-on-Tangible-Asset is -38.47%. Based on the distribution chart, NGL Energy Partners LP ranks #745 out of 1024 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, NGL Energy Partners LP has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NGL Energy Partners LP's Return-on-Tangible-Asset compare to GEL and TNK?
According to the Oil & Gas industry distribution chart, NGL Energy Partners LP ranks #745 out of 1024 companies for Return-on-Tangible-Asset. This places NGL Energy Partners LP in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.08. 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 2.08, based on 1,024 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 NGL Energy Partners LP and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NGL Energy Partners LP's current Return-on-Tangible-Asset is -38.47%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NGL Energy Partners LP stock overvalued right now?
Based on GuruFocus' analysis, NGL Energy Partners LP (NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.39, compared to a current price of $15.30 — trading 248.5% above its estimated fair value. The current Return-on-Tangible-Asset is -38.47%. NGL Energy Partners LP's overall GF Score™ is 41/100 with 6 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 NGL Energy Partners LP (NGL), the current Return-on-Tangible-Asset is -38.47% 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 NGL Energy Partners LP (NGL) Overvalued in 2026?
Based on GuruFocus' analysis, NGL Energy Partners LP stock appears to be overvalued.
The current stock price of $15.30 is trading 248.5% above its estimated GF Value™ of $4.39.
GuruFocus considers NGL Energy Partners LP to be Significantly Overvalued.
Key valuation signals for NGL:
Return-on-Tangible-Asset: -38.47%
GF Value™: $4.39 vs. price of $15.30 (248.5% above fair value)
No single metric tells the full story. See the NGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NGL Energy Partners LP is a USA-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil Logistics, owns pipeline injection stations, and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, as well as for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants and sells propane and distillates.
41GF Score
Get the complete analysis for NGL
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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