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Happy SteelsNSE:HAPPY -0.32%12 Return-on-Tangible-Asset is 0.00% as of Mar. 2026. GuruFocus rates NSE:HAPPY with a GF Score™ of 12/100. Among 1,330 Vehicles & Parts companies, Happy Steels ranks worse than 75187.89% 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. Happy Steels's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹0.0 Mil. Happy Steels's average total tangible assets for the quarter that ended in Mar. 2026 was ₹903.0 Mil. Therefore, Happy Steels's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 0.00%.
The historical rank and industry rank for Happy Steels's Return-on-Tangible-Asset or its related term are showing as below:
During the past 4 years, Happy Steels's highest Return-on-Tangible-Asset was 8.49%. The lowest was 0.58%. And the median was 4.70%.
NSE:HAPPY's Return-on-Tangible-Asset is not ranked *
in the Vehicles & Parts industry.
Industry Median: 3.165 * Ranked among companies with meaningful Return-on-Tangible-Asset only.
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.
Happy Steels Return-on-Tangible-Asset Related Terms
Happy Steels Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Happy Steels'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.
Happy Steels Return-on-Tangible-Asset Chart
Happy Steels Annual Data
Trend
Mar23
Mar24
Mar25
Mar26
Return-on-Tangible-Asset
0.58
6.34
3.05
8.49
Happy Steels Quarterly Data
Mar23
Mar24
Mar25
Sep25
Mar26
Return-on-Tangible-Asset
0.00
0.00
0.00
0.00
0.00
NSE:HAPPY vs ORLY, AZO: Return-on-Tangible-Asset Comparison
For the Auto Parts subindustry, Happy Steels'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.
Happy Steels Return-on-Tangible-Asset vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Happy Steels's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Happy Steels'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 0.00% mean?
Happy Steels (NSE:HAPPY) has a Return-on-Tangible-Asset of 0.00% 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 Happy Steels and its competitors. Over the past decade, Happy Steels' Return-on-Tangible-Asset has ranged from 0.58 to 8.49. According to the industry distribution chart, Happy Steels ranks #999999 out of 1330 companies in the Vehicles & Parts industry.
Is Happy Steels' Return-on-Tangible-Asset too high?
Happy Steels' current Return-on-Tangible-Asset is 0.00%. Over the past 10 years, this metric has ranged from a low of 0.58 to a high of 8.49. Based on the distribution chart, Happy Steels ranks #999999 out of 1330 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Happy Steels has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Happy Steels' Return-on-Tangible-Asset compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Happy Steels ranks #999999 out of 1330 companies for Return-on-Tangible-Asset. This places Happy Steels in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.17. Historically, Happy Steels' own Return-on-Tangible-Asset has ranged from 0.58 to 8.49 over the past decade. 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 3.17, 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. 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 Happy Steels and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Asset is 3.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Steels's current Return-on-Tangible-Asset is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Steels stock overvalued right now?
Happy Steels (NSE:HAPPY) has a current Return-on-Tangible-Asset of 0.00%. The current Return-on-Tangible-Asset is 0.00%. Happy Steels' overall GF Score™ is 12/100. 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 Happy Steels (NSE:HAPPY), the current Return-on-Tangible-Asset is 0.00% 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.
Happy Steels Ltd is an integrated manufacturer of Forged and Machined Transmission and Driveline components for On-highway vehicles, Off-highway vehicles, EVs, and defence applications. The company's product portfolio consists of axles, long spline shafts, spindles, and other related components. The majority of the company's revenue is derived from the sale of its products, mainly Axles, in the domestic markets.
12GF Score
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