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MRFNSE:MRF -1.55%90 Return-on-Tangible-Asset is 8.80% as of Mar. 2026, which is 27% above its 10-year median of 6.91. GuruFocus rates NSE:MRF with a GF Score™ of 90/100 and a GF Value™ of ₹161,099.02 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,331 Vehicles & Parts companies, MRF ranks better than 80.09% 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. MRF's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹28,090 Mil. MRF's average total tangible assets for the quarter that ended in Mar. 2026 was ₹319,316 Mil. Therefore, MRF's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 8.80%.
The historical rank and industry rank for MRF's Return-on-Tangible-Asset or its related term are showing as below:
NSE:MRF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.94 Med: 6.91 Max: 11.86
Current: 7.9
During the past 13 years, MRF's highest Return-on-Tangible-Asset was 11.86%. The lowest was 2.94%. And the median was 6.91%.
NSE:MRF's Return-on-Tangible-Asset is ranked better than 80.09% of 1331
companies
in the Vehicles & Parts industry
Industry Median: 3.19
vs NSE:MRF: 7.90
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.
MRF Return-on-Tangible-Asset Related Terms
MRF Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for MRF'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:MRF vs ORLY, AZO: Return-on-Tangible-Asset Comparison
For the Auto Parts subindustry, MRF'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.
MRF Return-on-Tangible-Asset vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, MRF's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where MRF'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 8.80% mean?
MRF (NSE:MRF) has a Return-on-Tangible-Asset of 8.80% 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 MRF and its competitors. This is 27% above median its historical median of 6.91. Over the past decade, MRF's Return-on-Tangible-Asset has ranged from 2.94 to 11.86. According to the industry distribution chart, MRF ranks #265 out of 1331 companies in the Vehicles & Parts industry, placing it in the top 19.9%.
Is MRF's Return-on-Tangible-Asset too high?
MRF's current Return-on-Tangible-Asset of 8.80% is 27% above median its 10-year median of 6.91. Over the past 10 years, this metric has ranged from a low of 2.94 to a high of 11.86. The Vehicles & Parts industry median Return-on-Tangible-Asset is 3.19. MRF's value of 8.80% is 175.9% above this industry median. Based on the distribution chart, MRF ranks #265 out of 1331 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, MRF has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MRF's Return-on-Tangible-Asset compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, MRF ranks #265 out of 1331 companies for Return-on-Tangible-Asset. This places MRF in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.19. MRF's value of 8.80% is 175.9% above this benchmark. Historically, MRF's own Return-on-Tangible-Asset has ranged from 2.94 to 11.86 over the past decade. While the company's 10-year median is 6.91 vs. the industry median of 3.19, MRF 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 3.19, based on 1,331 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. MRF's current Return-on-Tangible-Asset of 8.80% is 175.9% 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 MRF and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Asset is 3.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MRF's current Return-on-Tangible-Asset is 8.80%, which is 27% above median its own 10-year median of 6.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MRF stock overvalued right now?
Based on GuruFocus' analysis, MRF (NSE:MRF) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹161,099.02, compared to a current price of ₹132,770.00 — trading 17.6% below its estimated fair value. The current Return-on-Tangible-Asset is 8.80%, which is 27% above median its 10-year median of 6.91 and 175.9% above the Vehicles & Parts industry median of 3.19. MRF's overall GF Score™ is 90/100 with 1 warning sign 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 MRF (NSE:MRF), the current Return-on-Tangible-Asset is 8.80% 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 MRF (NSE:MRF) Overvalued in 2026?
Based on GuruFocus' analysis, MRF stock appears to be undervalued.
The current stock price of ₹132,770.00 is trading 17.6% below its estimated GF Value™ of ₹161,099.02.
GuruFocus considers MRF to be Modestly Undervalued.
Key valuation signals for NSE:MRF:
Return-on-Tangible-Asset: 8.80% (27% above median its 10-year median of 6.91)
GF Value™: ₹161,099.02 vs. price of ₹132,770.00 (17.6% below fair value)
Industry Position: 175.9% above the Vehicles & Parts median (#265 of 1331)
No single metric tells the full story. See the NSE:MRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MRF Ltd makes and sells rubber products, including tires, tubes, tread rubber, conveyor belts, and building and floor coatings. The firm's tires are used for automobiles, commercial trucks, and farm equipment. The company sells tires under the MRF brand name. MRF also operates multiple retail stores that sell tires and offer services. Stores under the MRF TireRok brand offer wheel alignment and air conditioning repair. MRF Musclezone stores offer tire servicing for commercial vehicles. MRF Tyredom stores offer a wheel alignment and car washes. The majority of revenue comes from India.
90GF Score
Get the complete analysis for NSE:MRF
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