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Zenith BankNSA:ZENITH +1.31%86 Return-on-Tangible-Asset is 3.96% as of Mar. 2026, which is 18% above its 10-year median of 3.36. GuruFocus rates NSA:ZENITH with a GF Score™ of 86/100 and a GF Value™ of ₦60.75 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,529 Banks companies, Zenith Bank ranks better than 95.75% 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. Zenith Bank's annualizedNet Income for the quarter that ended in Mar. 2026 was ₦1,254,896 Mil. Zenith Bank's average total tangible assets for the quarter that ended in Mar. 2026 was ₦31,658,074 Mil. Therefore, Zenith Bank's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.96%.
The historical rank and industry rank for Zenith Bank's Return-on-Tangible-Asset or its related term are showing as below:
NSA:ZENITH'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.07 Med: 3.36 Max: 4.15
Current: 3.3
During the past 13 years, Zenith Bank's highest Return-on-Tangible-Asset was 4.15%. The lowest was 2.07%. And the median was 3.36%.
NSA:ZENITH's Return-on-Tangible-Asset is ranked better than 95.75% of 1529
companies
in the Banks industry
Industry Median: 0.99
vs NSA:ZENITH: 3.30
Zenith Bank (NSA:ZENITH) 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.
Zenith Bank Return-on-Tangible-Asset Related Terms
Zenith Bank Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Zenith Bank'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.
Zenith Bank Return-on-Tangible-Asset Competitor Comparison
For the Banks - Regional subindustry, Zenith Bank'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.
Zenith Bank Return-on-Tangible-Asset vs Banks Industry
For the Banks industry and Financial Services sector, Zenith Bank's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Zenith Bank'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 3.96% mean?
Zenith Bank (NSA:ZENITH) has a Return-on-Tangible-Asset of 3.96% 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 Zenith Bank and its competitors. This is 18% above median its historical median of 3.36. Over the past decade, Zenith Bank's Return-on-Tangible-Asset has ranged from 2.07 to 4.15. According to the industry distribution chart, Zenith Bank ranks #65 out of 1529 companies in the Banks industry, placing it in the top 4.3%.
Is Zenith Bank's Return-on-Tangible-Asset too high?
Zenith Bank's current Return-on-Tangible-Asset of 3.96% is 18% above median its 10-year median of 3.36. Over the past 10 years, this metric has ranged from a low of 2.07 to a high of 4.15. The Banks industry median Return-on-Tangible-Asset is 0.99. Zenith Bank's value of 3.96% is 300% above this industry median. Based on the distribution chart, Zenith Bank ranks #65 out of 1529 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Zenith Bank has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zenith Bank's Return-on-Tangible-Asset compare to competitors?
According to the Banks industry distribution chart, Zenith Bank ranks #65 out of 1529 companies for Return-on-Tangible-Asset. This places Zenith Bank in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 0.99. Zenith Bank's value of 3.96% is 300% above this benchmark. Historically, Zenith Bank's own Return-on-Tangible-Asset has ranged from 2.07 to 4.15 over the past decade. While the company's 10-year median is 3.36 vs. the industry median of 0.99, Zenith Bank 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 Banks company?
The median Return-on-Tangible-Asset among Banks companies is 0.99, based on 1,529 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. Zenith Bank's current Return-on-Tangible-Asset of 3.96% is 300% 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 Zenith Bank and its competitors. For the Banks industry, the median Return-on-Tangible-Asset is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zenith Bank's current Return-on-Tangible-Asset is 3.96%, which is 18% above median its own 10-year median of 3.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zenith Bank stock overvalued right now?
Based on GuruFocus' analysis, Zenith Bank (NSA:ZENITH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦60.75, compared to a current price of ₦108.60 — trading 78.8% above its estimated fair value. The current Return-on-Tangible-Asset is 3.96%, which is 18% above median its 10-year median of 3.36 and 300% above the Banks industry median of 0.99. Zenith Bank's overall GF Score™ is 86/100 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 Zenith Bank (NSA:ZENITH), the current Return-on-Tangible-Asset is 3.96% 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 Zenith Bank (NSA:ZENITH) Overvalued in 2026?
Based on GuruFocus' analysis, Zenith Bank stock appears to be overvalued.
The current stock price of ₦108.60 is trading 78.8% above its estimated GF Value™ of ₦60.75.
GuruFocus considers Zenith Bank to be Significantly Overvalued.
Key valuation signals for NSA:ZENITH:
Return-on-Tangible-Asset: 3.96% (18% above median its 10-year median of 3.36)
GF Value™: ₦60.75 vs. price of ₦108.60 (78.8% above fair value)
Industry Position: 300% above the Banks median (#65 of 1529)
No single metric tells the full story. See the NSA:ZENITH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zenith Bank PLC is a Nigeria- based company. Its core business is the provision of banking and other financial services to corporate and individual customers. The bank provides services such as granting of loans and advances, corporate finance and money market activities. It also provides banking and pension custodial services to a diverse group of corporations, financial institutions, investment funds, governments and individuals; provision of investment advisory, financial planning services and investment product offerings; providing brokerage services, financing services and securities lending services to institutional clients, including mutual funds, pension funds and to high-net-worth individuals. Revenue generated by bank consists of interest income, fees and commission received.
86GF Score
Get the complete analysis for NSA:ZENITH
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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