Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Bharat ForgeNSE:BHARATFORG +2.50%69 Return-on-Tangible-Asset is 4.27% as of Mar. 2026, which is 18% below its 10-year median of 5.18. GuruFocus rates NSE:BHARATFORG with a GF Score™ of 69/100 and a GF Value™ of ₹1,171.40 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,330 Vehicles & Parts companies, Bharat Forge ranks better than 65.86% 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 Forge's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹9,303 Mil. Bharat Forge's average total tangible assets for the quarter that ended in Mar. 2026 was ₹217,621 Mil. Therefore, Bharat Forge's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 4.27%.
The historical rank and industry rank for Bharat Forge's Return-on-Tangible-Asset or its related term are showing as below:
NSE:BHARATFORG'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.03 Med: 5.18 Max: 9.59
Current: 5.24
During the past 13 years, Bharat Forge's highest Return-on-Tangible-Asset was 9.59%. The lowest was -1.03%. And the median was 5.18%.
NSE:BHARATFORG's Return-on-Tangible-Asset is ranked better than 65.86% of 1330
companies
in the Vehicles & Parts industry
Industry Median: 3.26
vs NSE:BHARATFORG: 5.24
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 Forge Return-on-Tangible-Asset Related Terms
Bharat Forge Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Bharat Forge'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:BHARATFORG vs ORLY, AZO: Return-on-Tangible-Asset Comparison
For the Auto Parts subindustry, Bharat Forge'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 Forge Return-on-Tangible-Asset vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Bharat Forge's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Bharat Forge'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 4.27% mean?
Bharat Forge (NSE:BHARATFORG) has a Return-on-Tangible-Asset of 4.27% 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 Forge and its competitors. This is 18% below median its historical median of 5.18. According to the industry distribution chart, Bharat Forge ranks #454 out of 1330 companies in the Vehicles & Parts industry, placing it in the top 34.1%.
Is Bharat Forge's Return-on-Tangible-Asset too high?
Bharat Forge's current Return-on-Tangible-Asset of 4.27% is 18% below median its 10-year median of 5.18. The Vehicles & Parts industry median Return-on-Tangible-Asset is 3.26. Bharat Forge's value of 4.27% is 31% above this industry median. Based on the distribution chart, Bharat Forge ranks #454 out of 1330 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Bharat Forge has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bharat Forge's Return-on-Tangible-Asset compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Bharat Forge ranks #454 out of 1330 companies for Return-on-Tangible-Asset. This puts Bharat Forge in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.26. Bharat Forge's value of 4.27% is 31% above this benchmark. While the company's 10-year median is 5.18 vs. the industry median of 3.26, Bharat Forge 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 Vehicles & Parts company?
The median Return-on-Tangible-Asset among Vehicles & Parts companies is 3.26, based on 1,330 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 Forge's current Return-on-Tangible-Asset of 4.27% is 31% 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 Forge and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Asset is 3.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Forge's current Return-on-Tangible-Asset is 4.27%, which is 18% below median its own 10-year median of 5.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Forge stock overvalued right now?
Based on GuruFocus' analysis, Bharat Forge (NSE:BHARATFORG) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹1,171.40, compared to a current price of ₹2,265.20 — trading 93.4% above its estimated fair value. The current Return-on-Tangible-Asset is 4.27%, which is 18% below median its 10-year median of 5.18 and 31% above the Vehicles & Parts industry median of 3.26. Bharat Forge's overall GF Score™ is 69/100 with 6 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 Forge (NSE:BHARATFORG), the current Return-on-Tangible-Asset is 4.27% 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 Forge (NSE:BHARATFORG) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Forge stock appears to be overvalued.
The current stock price of ₹2,265.20 is trading 93.4% above its estimated GF Value™ of ₹1,171.40.
GuruFocus considers Bharat Forge to be Significantly Overvalued.
Key valuation signals for NSE:BHARATFORG:
Return-on-Tangible-Asset: 4.27% (18% below median its 10-year median of 5.18)
GF Value™: ₹1,171.40 vs. price of ₹2,265.20 (93.4% above fair value)
Industry Position: 31% above the Vehicles & Parts median (#454 of 1330)
No single metric tells the full story. See the NSE:BHARATFORG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Forge Ltd is an Indian multinational engaged in metal forging across different industries. The company has the following business units: automotive, power, oil and gas, construction and mining, rail, marine and aerospace. The automotive unit offers products including powertrain components, machines crankshafts, connecting rods, and piston. The Power business unit manufactures components for thermal, wind, hydro and nuclear applications. The Company divides its business into three reporting segments: "Forgings", "Defense", and "Others". The Forgings segment focuses on manufacturing forged components, while the Defense segment centers around defense-related activities. The "Others" segment encompasses all other businesses not covered by Forgings and Defense.
69GF Score
Get the complete analysis for NSE:BHARATFORG
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:BHARATFORG has been successfully added to your 
