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. Mutual Benefits Assurance's annualizedNet Income for the quarter that ended in Dec. 2025 was ₦-33,912.23 Mil. Mutual Benefits Assurance's average total tangible assets for the quarter that ended in Dec. 2025 was ₦129,548.88 Mil. Therefore, Mutual Benefits Assurance's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -26.18%.
The historical rank and industry rank for Mutual Benefits Assurance's Return-on-Tangible-Asset or its related term are showing as below:
NSA:MBAS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.71 Med: 4.16 Max: 6.82
Current: -4.57
During the past 11 years, Mutual Benefits Assurance's highest Return-on-Tangible-Asset was 6.82%. The lowest was -6.71%. And the median was 4.16%.
NSA:MBAS's Return-on-Tangible-Asset is ranked worse than 95.48% of 509
companies
in the Insurance industry
Industry Median: 2.76
vs NSA:MBAS: -4.57
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.
Mutual Benefits Assurance Return-on-Tangible-Asset Related Terms
Mutual Benefits Assurance Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Mutual Benefits Assurance'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:MBAS vs BRK.A, AIG, HIG: Return-on-Tangible-Asset Comparison
For the Insurance - Diversified subindustry, Mutual Benefits Assurance'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.
Mutual Benefits Assurance Return-on-Tangible-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, Mutual Benefits Assurance's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Mutual Benefits Assurance'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 (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of -26.18% mean?
Mutual Benefits Assurance (NSA:MBAS) has a Return-on-Tangible-Asset of -26.18% 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 Mutual Benefits Assurance and its competitors. According to the industry distribution chart, Mutual Benefits Assurance ranks #486 out of 509 companies in the Insurance industry, placing it in the top 95.5%.
Is Mutual Benefits Assurance's Return-on-Tangible-Asset too high?
Mutual Benefits Assurance's current Return-on-Tangible-Asset is -26.18%. Based on the distribution chart, Mutual Benefits Assurance ranks #486 out of 509 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Mutual Benefits Assurance has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Benefits Assurance's Return-on-Tangible-Asset compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Mutual Benefits Assurance ranks #486 out of 509 companies for Return-on-Tangible-Asset. This places Mutual Benefits Assurance in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.76. 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 2.76, based on 509 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 Mutual Benefits Assurance and its competitors. For the Insurance industry, the median Return-on-Tangible-Asset is 2.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mutual Benefits Assurance's current Return-on-Tangible-Asset is -26.18%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Benefits Assurance stock overvalued right now?
Based on GuruFocus' analysis, Mutual Benefits Assurance (NSA:MBAS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.26, compared to a current price of ₦3.20 — trading 41.6% above its estimated fair value. The current Return-on-Tangible-Asset is -26.18%. Mutual Benefits Assurance's overall GF Score™ is 62/100 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 Mutual Benefits Assurance (NSA:MBAS), the current Return-on-Tangible-Asset is -26.18% 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 Mutual Benefits Assurance (NSA:MBAS) Overvalued in 2026?
Based on GuruFocus' analysis, Mutual Benefits Assurance stock appears to be overvalued.
The current stock price of ₦3.20 is trading 41.6% above its estimated GF Value™ of ₦2.26.
GuruFocus considers Mutual Benefits Assurance to be Significantly Overvalued.
Key valuation signals for NSA:MBAS:
Return-on-Tangible-Asset: -26.18%
GF Value™: ₦2.26 vs. price of ₦3.20 (41.6% above fair value)
No single metric tells the full story. See the NSA:MBAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mutual Benefits Assurance PLC is a financial and wealth protection company in Nigeria. The principal objective of the Company is to render qualitative life related insurance & risks management services. It is a premium provider of life insurance, annuity and investment products and services. It has four reportable operating segments; assurance business, real estate, microfinance bank, and oil and gas exploration and production. The majority of revenue comes from Assurance business which covers the protection of customers' assets (Particularly their properties, both for personal and commercial business) and indemnification of other parties that have suffered damage as a result of customers accident. It has presence in Nigeria, and Liberia.
62GF Score
Get the complete analysis for NSA:MBAS
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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