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Bharat DynamicsNSE:BDL -0.38%86 Return-on-Tangible-Asset is 3.23% as of Mar. 2026, which is 48% below its 10-year median of 6.22. GuruFocus rates NSE:BDL with a GF Score™ of 86/100 and a GF Value™ of ₹1,307.91 (Fairly Valued). The stock has 7 warning signs investors should review. Among 361 Aerospace & Defense companies, Bharat Dynamics ranks better than 52.35% 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. Bharat Dynamics's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹4,527 Mil. Bharat Dynamics's average total tangible assets for the quarter that ended in Mar. 2026 was ₹140,083 Mil. Therefore, Bharat Dynamics's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.23%.
The historical rank and industry rank for Bharat Dynamics's Return-on-Tangible-Asset or its related term are showing as below:
NSE:BDL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.29 Med: 6.22 Max: 9.84
Current: 3.29
During the past 13 years, Bharat Dynamics's highest Return-on-Tangible-Asset was 9.84%. The lowest was 3.29%. And the median was 6.22%.
NSE:BDL's Return-on-Tangible-Asset is ranked better than 52.35% of 361
companies
in the Aerospace & Defense industry
Industry Median: 3.05
vs NSE:BDL: 3.29
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.
Bharat Dynamics Return-on-Tangible-Asset Related Terms
Bharat Dynamics Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Bharat Dynamics'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.
NSE:BDL vs SPCX, GE, RTX: Return-on-Tangible-Asset Comparison
For the Aerospace & Defense subindustry, Bharat Dynamics'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.
Bharat Dynamics Return-on-Tangible-Asset vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Bharat Dynamics's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Bharat Dynamics'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 3.23% mean?
Bharat Dynamics (NSE:BDL) has a Return-on-Tangible-Asset of 3.23% 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 Bharat Dynamics and its competitors. This is 48% below median its historical median of 6.22. Over the past decade, Bharat Dynamics' Return-on-Tangible-Asset has ranged from 3.29 to 9.84. According to the industry distribution chart, Bharat Dynamics ranks #172 out of 361 companies in the Aerospace & Defense industry, placing it in the top 47.6%.
Is Bharat Dynamics' Return-on-Tangible-Asset too high?
Bharat Dynamics' current Return-on-Tangible-Asset of 3.23% is 48% below median its 10-year median of 6.22. Over the past 10 years, this metric has ranged from a low of 3.29 to a high of 9.84. The Aerospace & Defense industry median Return-on-Tangible-Asset is 3.05. Bharat Dynamics' value of 3.23% is 5.9% above this industry median. Based on the distribution chart, Bharat Dynamics ranks #172 out of 361 companies in the Aerospace & Defense industry, which is above the industry midpoint. Overall, Bharat Dynamics has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bharat Dynamics' Return-on-Tangible-Asset compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Bharat Dynamics ranks #172 out of 361 companies for Return-on-Tangible-Asset. This puts Bharat Dynamics in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.05. Bharat Dynamics' value of 3.23% is 5.9% above this benchmark. Historically, Bharat Dynamics' own Return-on-Tangible-Asset has ranged from 3.29 to 9.84 over the past decade. While the company's 10-year median is 6.22 vs. the industry median of 3.05, Bharat Dynamics 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 an Aerospace & Defense company?
The median Return-on-Tangible-Asset among Aerospace & Defense companies is 3.05, based on 361 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. Bharat Dynamics's current Return-on-Tangible-Asset of 3.23% is 5.9% 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 Bharat Dynamics and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Asset is 3.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Dynamics's current Return-on-Tangible-Asset is 3.23%, which is 48% below median its own 10-year median of 6.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Dynamics stock overvalued right now?
Based on GuruFocus' analysis, Bharat Dynamics (NSE:BDL) is currently considered Fairly Valued. The stock's GF Value™ is ₹1,307.91, compared to a current price of ₹1,294.00 — trading 1.1% below its estimated fair value. The current Return-on-Tangible-Asset is 3.23%, which is 48% below median its 10-year median of 6.22 and 5.9% above the Aerospace & Defense industry median of 3.05. Bharat Dynamics' overall GF Score™ is 86/100 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 Bharat Dynamics (NSE:BDL), the current Return-on-Tangible-Asset is 3.23% 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 Bharat Dynamics (NSE:BDL) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Dynamics stock appears to be undervalued.
The current stock price of ₹1,294.00 is trading 1.1% below its estimated GF Value™ of ₹1,307.91.
GuruFocus considers Bharat Dynamics to be Fairly Valued.
Key valuation signals for NSE:BDL:
Return-on-Tangible-Asset: 3.23% (48% below median its 10-year median of 6.22)
GF Value™: ₹1,307.91 vs. price of ₹1,294.00 (1.1% below fair value)
Industry Position: 5.9% above the Aerospace & Defense median (#172 of 361)
No single metric tells the full story. See the NSE:BDL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Dynamics Ltd is engaged in the manufacturing of Missiles and allied Defence equipment. The Company provides the majority of its goods and services to the Indian Armed Forces and the Government of India. Its products comprise Milan-2T ATGM, Helina, Astra Weapon System, FLAME, Anti-Submarine Warfare Suite (ASW SUITE), Astra Weapon Systemothers, and Others.
86GF Score
Get the complete analysis for NSE:BDL
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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