Dangote CementNSA:DCP 100 Return-on-Tangible-Asset is 21.25% as of Mar. 2026, which is 51% above its 10-year median of 14.11. GuruFocus rates NSA:DCP with a GF Score™ of 100/100 and a GF Value™ of ₦815.25 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 410 Building Materials companies, Dangote Cement ranks better than 95.12% 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. Dangote Cement's annualizedNet Income for the quarter that ended in Mar. 2026 was ₦1,282,596 Mil. Dangote Cement's average total tangible assets for the quarter that ended in Mar. 2026 was ₦6,035,028 Mil. Therefore, Dangote Cement's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 21.25%.
The historical rank and industry rank for Dangote Cement's Return-on-Tangible-Asset or its related term are showing as below:
NSA:DCP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 9.64 Med: 14.11 Max: 23.18
Current: 18.1
During the past 13 years, Dangote Cement's highest Return-on-Tangible-Asset was 23.18%. The lowest was 9.64%. And the median was 14.11%.
NSA:DCP's Return-on-Tangible-Asset is ranked better than 95.12% of 410
companies
in the Building Materials industry
Industry Median: 2.345
vs NSA:DCP: 18.10
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.
Dangote Cement Return-on-Tangible-Asset Related Terms
Dangote Cement Return-on-Tangible-Asset Historical Data
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The historical data trend for Dangote Cement'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.
NSA:DCP vs CRH, VMC, MLM: Return-on-Tangible-Asset Comparison
For the Building Materials subindustry, Dangote Cement'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.
Dangote Cement Return-on-Tangible-Asset vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Dangote Cement's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Dangote Cement'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 21.25% mean?
Dangote Cement (NSA:DCP) has a Return-on-Tangible-Asset of 21.25% 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 Dangote Cement and its competitors. This is 51% above median its historical median of 14.11. Over the past decade, Dangote Cement's Return-on-Tangible-Asset has ranged from 9.64 to 23.18. According to the industry distribution chart, Dangote Cement ranks #20 out of 410 companies in the Building Materials industry, placing it in the top 4.9%.
Is Dangote Cement's Return-on-Tangible-Asset too high?
Dangote Cement's current Return-on-Tangible-Asset of 21.25% is 51% above median its 10-year median of 14.11. Over the past 10 years, this metric has ranged from a low of 9.64 to a high of 23.18. The Building Materials industry median Return-on-Tangible-Asset is 2.35. Dangote Cement's value of 21.25% is 806.2% above this industry median. Based on the distribution chart, Dangote Cement ranks #20 out of 410 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Dangote Cement has a GF Score™ of 100/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dangote Cement's Return-on-Tangible-Asset compare to CRH and VMC?
According to the Building Materials industry distribution chart, Dangote Cement ranks #20 out of 410 companies for Return-on-Tangible-Asset. This places Dangote Cement in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.35. Dangote Cement's value of 21.25% is 806.2% above this benchmark. Historically, Dangote Cement's own Return-on-Tangible-Asset has ranged from 9.64 to 23.18 over the past decade. While the company's 10-year median is 14.11 vs. the industry median of 2.35, Dangote Cement 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 Building Materials company?
The median Return-on-Tangible-Asset among Building Materials companies is 2.35, based on 410 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. Dangote Cement's current Return-on-Tangible-Asset of 21.25% is 806.2% 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 Dangote Cement and its competitors. For the Building Materials industry, the median Return-on-Tangible-Asset is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dangote Cement's current Return-on-Tangible-Asset is 21.25%, which is 51% above median its own 10-year median of 14.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dangote Cement stock overvalued right now?
Based on GuruFocus' analysis, Dangote Cement (NSA:DCP) is currently considered Modestly Overvalued. The stock's GF Value™ is ₦815.25, compared to a current price of ₦1,047.00 — trading 28.4% above its estimated fair value. The current Return-on-Tangible-Asset is 21.25%, which is 51% above median its 10-year median of 14.11 and 806.2% above the Building Materials industry median of 2.35. Dangote Cement's overall GF Score™ is 100/100 with 1 warning sign 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 Dangote Cement (NSA:DCP), the current Return-on-Tangible-Asset is 21.25% 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 Dangote Cement (NSA:DCP) Overvalued in 2026?
Based on GuruFocus' analysis, Dangote Cement stock appears to be overvalued.
The current stock price of ₦1,047.00 is trading 28.4% above its estimated GF Value™ of ₦815.25.
GuruFocus considers Dangote Cement to be Modestly Overvalued.
Key valuation signals for NSA:DCP:
Return-on-Tangible-Asset: 21.25% (51% above median its 10-year median of 14.11)
GF Value™: ₦815.25 vs. price of ₦1,047.00 (28.4% above fair value)
Industry Position: 806.2% above the Building Materials median (#20 of 410)
No single metric tells the full story. See the NSA:DCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dangote Cement PLC is a cement manufacturer. It manufactures and markets cement and related products through its 'Dangote' brand. The principal activity of the Company and its subsidiaries is to operate plants for the preparation, manufacture and distribution of cement and related products. The Company's production activities are undertaken at Obajana town in Kogi State, Gboko in Benue State and Ibese in Ogun State; all in Nigeria. Its geographical segment includes Nigeria and Pan Africa. The company derives a majority of revenue from Nigeria segment.
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