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NewLake Capital PartnersNLCP -0.21%83 Return-on-Tangible-Asset is 5.72% as of Mar. 2026, which is 5% above its 10-year median of 5.44. GuruFocus rates NLCP with a GF Score™ of 83/100 and a GF Value™ of $14.85 (Fairly Valued). The stock has 7 warning signs investors should review. Among 926 REITs companies, NewLake Capital Partners ranks better than 74.3% 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. NewLake Capital Partners's annualizedNet Income for the quarter that ended in Mar. 2026 was $23.10 Mil. NewLake Capital Partners's average total tangible assets for the quarter that ended in Mar. 2026 was $403.77 Mil. Therefore, NewLake Capital Partners's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 5.72%.
The historical rank and industry rank for NewLake Capital Partners's Return-on-Tangible-Asset or its related term are showing as below:
NLCP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -7.4 Med: 5.44 Max: 6.43
Current: 6.34
During the past 6 years, NewLake Capital Partners's highest Return-on-Tangible-Asset was 6.43%. The lowest was -7.40%. And the median was 5.44%.
NLCP's Return-on-Tangible-Asset is ranked better than 74.3% of 926
companies
in the REITs industry
Industry Median: 3.28
vs NLCP: 6.34
NewLake Capital Partners (OTCPK:NLCP) 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.
NewLake Capital Partners Return-on-Tangible-Asset Related Terms
NewLake Capital Partners Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for NewLake Capital Partners'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.
NewLake Capital Partners Return-on-Tangible-Asset Chart
NLCP vs LAND, FPI, SELF: Return-on-Tangible-Asset Comparison
For the REIT - Specialty subindustry, NewLake Capital Partners'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.
NewLake Capital Partners Return-on-Tangible-Asset vs REITs Industry
For the REITs industry and Real Estate sector, NewLake Capital Partners's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where NewLake Capital Partners'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 5.72% mean?
NewLake Capital Partners (NLCP) has a Return-on-Tangible-Asset of 5.72% 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 NewLake Capital Partners and its competitors. This is near median its historical median of 5.44. According to the industry distribution chart, NewLake Capital Partners ranks #238 out of 926 companies in the REITs industry, placing it in the top 25.7%.
Is NewLake Capital Partners' Return-on-Tangible-Asset too high?
NewLake Capital Partners' current Return-on-Tangible-Asset of 5.72% is near median its 10-year median of 5.44. The REITs industry median Return-on-Tangible-Asset is 3.28. NewLake Capital Partners' value of 5.72% is 74.4% above this industry median. Based on the distribution chart, NewLake Capital Partners ranks #238 out of 926 companies in the REITs industry, which is above the industry midpoint. Overall, NewLake Capital Partners has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NewLake Capital Partners' Return-on-Tangible-Asset compare to LAND and FPI?
According to the REITs industry distribution chart, NewLake Capital Partners ranks #238 out of 926 companies for Return-on-Tangible-Asset. This puts NewLake Capital Partners in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.28. NewLake Capital Partners' value of 5.72% is 74.4% above this benchmark. While the company's 10-year median is 5.44 vs. the industry median of 3.28, NewLake Capital Partners 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 REITs company?
The median Return-on-Tangible-Asset among REITs companies is 3.28, based on 926 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. NewLake Capital Partners's current Return-on-Tangible-Asset of 5.72% is 74.4% 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 NewLake Capital Partners and its competitors. For the REITs industry, the median Return-on-Tangible-Asset is 3.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NewLake Capital Partners's current Return-on-Tangible-Asset is 5.72%, which is near median its own 10-year median of 5.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NewLake Capital Partners stock overvalued right now?
Based on GuruFocus' analysis, NewLake Capital Partners (NLCP) is currently considered Fairly Valued. The stock's GF Value™ is $14.85, compared to a current price of $15.67 — trading 5.5% above its estimated fair value. The current Return-on-Tangible-Asset is 5.72%, which is near median its 10-year median of 5.44 and 74.4% above the REITs industry median of 3.28. NewLake Capital Partners' overall GF Score™ is 83/100 with 7 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 NewLake Capital Partners (NLCP), the current Return-on-Tangible-Asset is 5.72% 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 NewLake Capital Partners (NLCP) Overvalued in 2026?
Based on GuruFocus' analysis, NewLake Capital Partners stock appears to be overvalued.
The current stock price of $15.67 is trading 5.5% above its estimated GF Value™ of $14.85.
GuruFocus considers NewLake Capital Partners to be Fairly Valued.
Key valuation signals for NLCP:
Return-on-Tangible-Asset: 5.72% (near median its 10-year median of 5.44)
GF Value™: $14.85 vs. price of $15.67 (5.5% above fair value)
Industry Position: 74.4% above the REITs median (#238 of 926)
No single metric tells the full story. See the NLCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NewLake Capital Partners Inc is an internally managed real estate investment trust (REIT) focused on providing real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects. properties are leased to single tenants on a long-term, triple-net basis, which obligates the tenant to be responsible for the ongoing expenses of a property, in addition to its rent obligations. Its tenants operate in the fast-growing cannabis industry.
83GF Score
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