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Happy ForgingsNSE:HAPPYFORGE -2.19%46 Return-on-Tangible-Asset is 12.79% as of Mar. 2026, which is 6% below its 10-year median of 13.66. GuruFocus rates NSE:HAPPYFORGE with a GF Score™ of 46/100. The stock has 5 warning signs investors should review. Among 3,078 Industrial Products companies, Happy Forgings ranks better than 91% 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 Forgings's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹3,342 Mil. Happy Forgings's average total tangible assets for the quarter that ended in Mar. 2026 was ₹26,137 Mil. Therefore, Happy Forgings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 12.79%.
The historical rank and industry rank for Happy Forgings's Return-on-Tangible-Asset or its related term are showing as below:
NSE:HAPPYFORGE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 9.88 Med: 13.66 Max: 17.02
Current: 12.75
During the past 6 years, Happy Forgings's highest Return-on-Tangible-Asset was 17.02%. The lowest was 9.88%. And the median was 13.66%.
NSE:HAPPYFORGE's Return-on-Tangible-Asset is ranked better than 91% of 3078
companies
in the Industrial Products industry
Industry Median: 3.26
vs NSE:HAPPYFORGE: 12.75
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 Forgings Return-on-Tangible-Asset Related Terms
Happy Forgings Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Happy Forgings'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:HAPPYFORGE vs CRS, ATI, MLI: Return-on-Tangible-Asset Comparison
For the Metal Fabrication subindustry, Happy Forgings'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 Forgings Return-on-Tangible-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Happy Forgings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Happy Forgings'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 12.79% mean?
Happy Forgings (NSE:HAPPYFORGE) has a Return-on-Tangible-Asset of 12.79% 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 Forgings and its competitors. This is near median its historical median of 13.66. Over the past decade, Happy Forgings' Return-on-Tangible-Asset has ranged from 9.88 to 17.02. According to the industry distribution chart, Happy Forgings ranks #277 out of 3078 companies in the Industrial Products industry, placing it in the top 9%.
Is Happy Forgings' Return-on-Tangible-Asset too high?
Happy Forgings' current Return-on-Tangible-Asset of 12.79% is near median its 10-year median of 13.66. Over the past 10 years, this metric has ranged from a low of 9.88 to a high of 17.02. The Industrial Products industry median Return-on-Tangible-Asset is 3.26. Happy Forgings' value of 12.79% is 292.3% above this industry median. Based on the distribution chart, Happy Forgings ranks #277 out of 3078 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Happy Forgings has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Happy Forgings' Return-on-Tangible-Asset compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Happy Forgings ranks #277 out of 3078 companies for Return-on-Tangible-Asset. This places Happy Forgings in the top 9% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.26. Happy Forgings' value of 12.79% is 292.3% above this benchmark. Historically, Happy Forgings' own Return-on-Tangible-Asset has ranged from 9.88 to 17.02 over the past decade. While the company's 10-year median is 13.66 vs. the industry median of 3.26, Happy Forgings 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 Industrial Products company?
The median Return-on-Tangible-Asset among Industrial Products companies is 3.26, based on 3,078 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. Happy Forgings's current Return-on-Tangible-Asset of 12.79% is 292.3% 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 Happy Forgings and its competitors. For the Industrial Products 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. Happy Forgings's current Return-on-Tangible-Asset is 12.79%, which is near median its own 10-year median of 13.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Forgings stock overvalued right now?
Happy Forgings (NSE:HAPPYFORGE) has a current Return-on-Tangible-Asset of 12.79%. The current Return-on-Tangible-Asset is 12.79%, which is near median its 10-year median of 13.66 and 292.3% above the Industrial Products industry median of 3.26. Happy Forgings' overall GF Score™ is 46/100 with 5 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 Happy Forgings (NSE:HAPPYFORGE), the current Return-on-Tangible-Asset is 12.79% 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 Forgings Ltd is a manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. The company manufactures, designs, and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies for different industries and customers. The Company business comprises only the Forging segment where the company sells forged products comprising of forgings and machined components for the automotive and industrial sectors. The company generates the majority of its revenue within India.
46GF Score
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