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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.
Kennametal IndiaNSE:KENNAMET +2.86%86 Return-on-Tangible-Asset is 28.08% as of Jun. 2026, which is 163% above its 10-year median of 10.66. GuruFocus rates NSE:KENNAMET with a GF Score™ of 86/100 and a GF Value™ of ₹3,235.15 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 3,080 Industrial Products companies, Kennametal India ranks better than 96.1% 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. Kennametal India's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹3,552 Mil. Kennametal India's average total tangible assets for the quarter that ended in Jun. 2026 was ₹12,649 Mil. Therefore, Kennametal India's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 28.08%.
The historical rank and industry rank for Kennametal India's Return-on-Tangible-Asset or its related term are showing as below:
NSE:KENNAMET'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.63 Med: 10.66 Max: 18.03
Current: 18.03
During the past 13 years, Kennametal India's highest Return-on-Tangible-Asset was 18.03%. The lowest was 4.63%. And the median was 10.66%.
NSE:KENNAMET's Return-on-Tangible-Asset is ranked better than 96.1% of 3080
companies
in the Industrial Products industry
Industry Median: 3.395
vs NSE:KENNAMET: 18.03
Kennametal India (NSE:KENNAMET) 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.
Kennametal India Return-on-Tangible-Asset Related Terms
Kennametal India Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Kennametal India'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:KENNAMET vs SNA, RBC, SWK: Return-on-Tangible-Asset Comparison
For the Tools & Accessories subindustry, Kennametal India'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.
Kennametal India Return-on-Tangible-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kennametal India's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Kennametal India'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 (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 28.08% mean?
Kennametal India (NSE:KENNAMET) has a Return-on-Tangible-Asset of 28.08% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Kennametal India and its competitors. This is 163% above median its historical median of 10.66. Over the past decade, Kennametal India's Return-on-Tangible-Asset has ranged from 4.63 to 18.03. According to the industry distribution chart, Kennametal India ranks #120 out of 3080 companies in the Industrial Products industry, placing it in the top 3.9%.
Is Kennametal India's Return-on-Tangible-Asset too high?
Kennametal India's current Return-on-Tangible-Asset of 28.08% is 163% above median its 10-year median of 10.66. Over the past 10 years, this metric has ranged from a low of 4.63 to a high of 18.03. The Industrial Products industry median Return-on-Tangible-Asset is 3.40. Kennametal India's value of 28.08% is 727.1% above this industry median. Based on the distribution chart, Kennametal India ranks #120 out of 3080 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Kennametal India has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kennametal India's Return-on-Tangible-Asset compare to SNA and RBC?
According to the Industrial Products industry distribution chart, Kennametal India ranks #120 out of 3080 companies for Return-on-Tangible-Asset. This places Kennametal India in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.40. Kennametal India's value of 28.08% is 727.1% above this benchmark. Historically, Kennametal India's own Return-on-Tangible-Asset has ranged from 4.63 to 18.03 over the past decade. While the company's 10-year median is 10.66 vs. the industry median of 3.40, Kennametal India 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 3.40, based on 3,080 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. Kennametal India's current Return-on-Tangible-Asset of 28.08% is 727.1% 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 Kennametal India and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Asset is 3.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kennametal India's current Return-on-Tangible-Asset is 28.08%, which is 163% above median its own 10-year median of 10.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kennametal India stock overvalued right now?
Based on GuruFocus' analysis, Kennametal India (NSE:KENNAMET) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹3,235.15, compared to a current price of ₹3,719.60 — trading 15% above its estimated fair value. The current Return-on-Tangible-Asset is 28.08%, which is 163% above median its 10-year median of 10.66 and 727.1% above the Industrial Products industry median of 3.40. Kennametal India's overall GF Score™ is 86/100 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 Kennametal India (NSE:KENNAMET), the current Return-on-Tangible-Asset is 28.08% as of Jun. 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 Kennametal India (NSE:KENNAMET) Overvalued in 2026?
Based on GuruFocus' analysis, Kennametal India stock appears to be overvalued.
The current stock price of ₹3,719.60 is trading 15% above its estimated GF Value™ of ₹3,235.15.
GuruFocus considers Kennametal India to be Modestly Overvalued.
Key valuation signals for NSE:KENNAMET:
Return-on-Tangible-Asset: 28.08% (163% above median its 10-year median of 10.66)
GF Value™: ₹3,235.15 vs. price of ₹3,719.60 (15% above fair value)
Industry Position: 727.1% above the Industrial Products median (#120 of 3080)
No single metric tells the full story. See the NSE:KENNAMET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kennametal India Ltd is engaged in the manufacturing and trading of hard metal products and machine tools, also known as machining solutions, serving both domestic and international markets. It operates through two main segments, the Machining Solutions Group and Hard Metal Products. The Machining Solutions Group's sales include machines, fixtures, spare parts, and after-sales services. The Hard Metal Products segment is the key revenue driver, offering metal cutting tools, tooling systems, and wear-resistant components for various industries such as automotive, aerospace, energy, and engineering. The company's operations are mainly based in India, with a presence in Germany, the USA, and China, and the majority of its revenue comes from India.
86GF Score
Get the complete analysis for NSE:KENNAMET
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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