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.
Mishra Dhatu NigamNSE:MIDHANI +2.86%83 Return-on-Tangible-Asset is 2.05% as of Jun. 2026, which is 70% below its 10-year median of 6.81. GuruFocus rates NSE:MIDHANI with a GF Score™ of 83/100 and a GF Value™ of ₹470.56 (Fairly Valued). The stock has 5 warning signs investors should review. Among 633 Steel companies, Mishra Dhatu Nigam ranks better than 70.77% 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. Mishra Dhatu Nigam's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹659 Mil. Mishra Dhatu Nigam's average total tangible assets for the quarter that ended in Jun. 2026 was ₹32,174 Mil. Therefore, Mishra Dhatu Nigam's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 2.05%.
The historical rank and industry rank for Mishra Dhatu Nigam's Return-on-Tangible-Asset or its related term are showing as below:
NSE:MIDHANI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.19 Med: 6.81 Max: 11.38
Current: 4.46
During the past 13 years, Mishra Dhatu Nigam's highest Return-on-Tangible-Asset was 11.38%. The lowest was 3.19%. And the median was 6.81%.
NSE:MIDHANI's Return-on-Tangible-Asset is ranked better than 70.77% of 633
companies
in the Steel industry
Industry Median: 2.12
vs NSE:MIDHANI: 4.46
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.
Mishra Dhatu Nigam Return-on-Tangible-Asset Related Terms
Mishra Dhatu Nigam Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Mishra Dhatu Nigam'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:MIDHANI vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Mishra Dhatu Nigam'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.
Mishra Dhatu Nigam Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Mishra Dhatu Nigam's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Mishra Dhatu Nigam'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 2.05% mean?
Mishra Dhatu Nigam (NSE:MIDHANI) has a Return-on-Tangible-Asset of 2.05% 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 Mishra Dhatu Nigam and its competitors. This is 70% below median its historical median of 6.81. Over the past decade, Mishra Dhatu Nigam's Return-on-Tangible-Asset has ranged from 3.19 to 11.38. According to the industry distribution chart, Mishra Dhatu Nigam ranks #185 out of 633 companies in the Steel industry, placing it in the top 29.2%.
Is Mishra Dhatu Nigam's Return-on-Tangible-Asset too high?
Mishra Dhatu Nigam's current Return-on-Tangible-Asset of 2.05% is 70% below median its 10-year median of 6.81. Over the past 10 years, this metric has ranged from a low of 3.19 to a high of 11.38. The Steel industry median Return-on-Tangible-Asset is 2.12. Mishra Dhatu Nigam's value of 2.05% is 3.3% below this industry median. Based on the distribution chart, Mishra Dhatu Nigam ranks #185 out of 633 companies in the Steel industry, which is above the industry midpoint. Overall, Mishra Dhatu Nigam has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mishra Dhatu Nigam's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Mishra Dhatu Nigam ranks #185 out of 633 companies for Return-on-Tangible-Asset. This puts Mishra Dhatu Nigam in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.12. Mishra Dhatu Nigam's value of 2.05% is 3.3% below this benchmark. Historically, Mishra Dhatu Nigam's own Return-on-Tangible-Asset has ranged from 3.19 to 11.38 over the past decade. While the company's 10-year median is 6.81 vs. the industry median of 2.12, Mishra Dhatu Nigam has consistently been below 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 2.12, based on 633 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. Mishra Dhatu Nigam's current Return-on-Tangible-Asset of 2.05% is 3.3% below 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 Mishra Dhatu Nigam and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mishra Dhatu Nigam's current Return-on-Tangible-Asset is 2.05%, which is 70% below median its own 10-year median of 6.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mishra Dhatu Nigam stock overvalued right now?
Based on GuruFocus' analysis, Mishra Dhatu Nigam (NSE:MIDHANI) is currently considered Fairly Valued. The stock's GF Value™ is ₹470.56, compared to a current price of ₹428.60 — trading 8.9% below its estimated fair value. The current Return-on-Tangible-Asset is 2.05%, which is 70% below median its 10-year median of 6.81 and 3.3% below the Steel industry median of 2.12. Mishra Dhatu Nigam's overall GF Score™ is 83/100 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 Mishra Dhatu Nigam (NSE:MIDHANI), the current Return-on-Tangible-Asset is 2.05% 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 Mishra Dhatu Nigam (NSE:MIDHANI) Overvalued in 2026?
Based on GuruFocus' analysis, Mishra Dhatu Nigam stock appears to be undervalued.
The current stock price of ₹428.60 is trading 8.9% below its estimated GF Value™ of ₹470.56.
GuruFocus considers Mishra Dhatu Nigam to be Fairly Valued.
Key valuation signals for NSE:MIDHANI:
Return-on-Tangible-Asset: 2.05% (70% below median its 10-year median of 6.81)
GF Value™: ₹470.56 vs. price of ₹428.60 (8.9% below fair value)
Industry Position: 3.3% below the Steel median (#185 of 633)
No single metric tells the full story. See the NSE:MIDHANI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mishra Dhatu Nigam Ltd is engaged in the business of manufacturing superalloys, titanium, special purpose steel, and other special metals. Its product portfolio includes titanium and titanium alloys, special steel, fasteners, investment castings, open-die forgings, and others. Geographically, the company caters to both Indian and international markets, of which, a majority of its revenue is derived from its business in India.
83GF Score
Get the complete analysis for NSE:MIDHANI
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:MIDHANI has been successfully added to your 
