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.
Novartis IndiaNSE:NOVARTIND -1.06%69 Return-on-Tangible-Asset is 13.17% as of Jun. 2026, which is 122% above its 10-year median of 5.94. GuruFocus rates NSE:NOVARTIND with a GF Score™ of 69/100 and a GF Value™ of ₹1,040.75 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,006 Drug Manufacturers companies, Novartis India ranks better than 78.43% 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. Novartis India's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹1,288 Mil. Novartis India's average total tangible assets for the quarter that ended in Jun. 2026 was ₹9,783 Mil. Therefore, Novartis India's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 13.17%.
The historical rank and industry rank for Novartis India's Return-on-Tangible-Asset or its related term are showing as below:
NSE:NOVARTIND'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -0.38 Med: 5.94 Max: 10.78
Current: 10.26
During the past 13 years, Novartis India's highest Return-on-Tangible-Asset was 10.78%. The lowest was -0.38%. And the median was 5.94%.
NSE:NOVARTIND's Return-on-Tangible-Asset is ranked better than 78.43% of 1006
companies
in the Drug Manufacturers industry
Industry Median: 2.935
vs NSE:NOVARTIND: 10.26
Novartis India (NSE:NOVARTIND) 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.
Novartis India Return-on-Tangible-Asset Related Terms
Novartis India Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Novartis 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:NOVARTIND vs ZTS: Return-on-Tangible-Asset Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Novartis 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.
Novartis India Return-on-Tangible-Asset vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novartis India's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Novartis 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 13.17% mean?
Novartis India (NSE:NOVARTIND) has a Return-on-Tangible-Asset of 13.17% 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 Novartis India and its competitors. This is 122% above median its historical median of 5.94. According to the industry distribution chart, Novartis India ranks #217 out of 1006 companies in the Drug Manufacturers industry, placing it in the top 21.6%.
Is Novartis India's Return-on-Tangible-Asset too high?
Novartis India's current Return-on-Tangible-Asset of 13.17% is 122% above median its 10-year median of 5.94. The Drug Manufacturers industry median Return-on-Tangible-Asset is 2.94. Novartis India's value of 13.17% is 348.7% above this industry median. Based on the distribution chart, Novartis India ranks #217 out of 1006 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, Novartis India has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Novartis India's Return-on-Tangible-Asset compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Novartis India ranks #217 out of 1006 companies for Return-on-Tangible-Asset. This places Novartis India in the top 22% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.94. Novartis India's value of 13.17% is 348.7% above this benchmark. While the company's 10-year median is 5.94 vs. the industry median of 2.94, Novartis 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 a Drug Manufacturers company?
The median Return-on-Tangible-Asset among Drug Manufacturers companies is 2.94, based on 1,006 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. Novartis India's current Return-on-Tangible-Asset of 13.17% is 348.7% 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 Novartis India and its competitors. For the Drug Manufacturers industry, the median Return-on-Tangible-Asset is 2.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novartis India's current Return-on-Tangible-Asset is 13.17%, which is 122% above median its own 10-year median of 5.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novartis India stock overvalued right now?
Based on GuruFocus' analysis, Novartis India (NSE:NOVARTIND) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹1,040.75, compared to a current price of ₹1,486.30 — trading 42.8% above its estimated fair value. The current Return-on-Tangible-Asset is 13.17%, which is 122% above median its 10-year median of 5.94 and 348.7% above the Drug Manufacturers industry median of 2.94. Novartis India's overall GF Score™ is 69/100 with 3 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 Novartis India (NSE:NOVARTIND), the current Return-on-Tangible-Asset is 13.17% 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 Novartis India (NSE:NOVARTIND) Overvalued in 2026?
Based on GuruFocus' analysis, Novartis India stock appears to be overvalued.
The current stock price of ₹1,486.30 is trading 42.8% above its estimated GF Value™ of ₹1,040.75.
GuruFocus considers Novartis India to be Significantly Overvalued.
Key valuation signals for NSE:NOVARTIND:
Return-on-Tangible-Asset: 13.17% (122% above median its 10-year median of 5.94)
GF Value™: ₹1,040.75 vs. price of ₹1,486.30 (42.8% above fair value)
Industry Position: 348.7% above the Drug Manufacturers median (#217 of 1006)
No single metric tells the full story. See the NSE:NOVARTIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Novartis India Ltd is an Indian-based pharmaceutical company. The company is engaged in the trading of Drugs and Pharmaceuticals. It derives revenue from operations in India. The company operates in a single business segment, namely Pharmaceutical Business. Its Pharmaceutical business focuses on Bone and Pain, Transplantation Immunology, and Neurosciences.
69GF Score
Get the complete analysis for NSE:NOVARTIND
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:NOVARTIND has been successfully added to your 
