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Paul MerchantsNSE:PML -0.33%50 Return-on-Tangible-Asset is 3.79% as of Jun. 2026, which is 37% below its 10-year median of 5.97. GuruFocus rates NSE:PML with a GF Score™ of 50/100 and a GF Value™ of ₹356.93 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 816 Capital Markets companies, Paul Merchants ranks better than 93.87% 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. Paul Merchants's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹356 Mil. Paul Merchants's average total tangible assets for the quarter that ended in Jun. 2026 was ₹9,391 Mil. Therefore, Paul Merchants's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 3.79%.
The historical rank and industry rank for Paul Merchants's Return-on-Tangible-Asset or its related term are showing as below:
NSE:PML'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.65 Med: 5.97 Max: 60.96
Current: 22.97
During the past 13 years, Paul Merchants's highest Return-on-Tangible-Asset was 60.96%. The lowest was 4.65%. And the median was 5.97%.
NSE:PML's Return-on-Tangible-Asset is ranked better than 93.87% of 816
companies
in the Capital Markets industry
Industry Median: 1.54
vs NSE:PML: 22.97
Paul Merchants (NSE:PML) 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.
Paul Merchants Return-on-Tangible-Asset Related Terms
Paul Merchants Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Paul Merchants'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.
For the Capital Markets subindustry, Paul Merchants'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.
Paul Merchants Return-on-Tangible-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Paul Merchants's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Paul Merchants'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 3.79% mean?
Paul Merchants (NSE:PML) has a Return-on-Tangible-Asset of 3.79% 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 Paul Merchants and its competitors. This is 37% below median its historical median of 5.97. Over the past decade, Paul Merchants' Return-on-Tangible-Asset has ranged from 4.65 to 60.96. According to the industry distribution chart, Paul Merchants ranks #50 out of 816 companies in the Capital Markets industry, placing it in the top 6.1%.
Is Paul Merchants' Return-on-Tangible-Asset too high?
Paul Merchants' current Return-on-Tangible-Asset of 3.79% is 37% below median its 10-year median of 5.97. Over the past 10 years, this metric has ranged from a low of 4.65 to a high of 60.96. The Capital Markets industry median Return-on-Tangible-Asset is 1.54. Paul Merchants' value of 3.79% is 146.1% above this industry median. Based on the distribution chart, Paul Merchants ranks #50 out of 816 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Paul Merchants has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Paul Merchants' Return-on-Tangible-Asset compare to ?
According to the Capital Markets industry distribution chart, Paul Merchants ranks #50 out of 816 companies for Return-on-Tangible-Asset. This places Paul Merchants in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.54. Paul Merchants' value of 3.79% is 146.1% above this benchmark. Historically, Paul Merchants' own Return-on-Tangible-Asset has ranged from 4.65 to 60.96 over the past decade. While the company's 10-year median is 5.97 vs. the industry median of 1.54, Paul Merchants 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 Capital Markets company?
The median Return-on-Tangible-Asset among Capital Markets companies is 1.54, based on 816 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. Paul Merchants's current Return-on-Tangible-Asset of 3.79% is 146.1% 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 Paul Merchants and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Paul Merchants's current Return-on-Tangible-Asset is 3.79%, which is 37% below median its own 10-year median of 5.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Paul Merchants stock overvalued right now?
Based on GuruFocus' analysis, Paul Merchants (NSE:PML) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹356.93, compared to a current price of ₹490.50 — trading 37.4% above its estimated fair value. The current Return-on-Tangible-Asset is 3.79%, which is 37% below median its 10-year median of 5.97 and 146.1% above the Capital Markets industry median of 1.54. Paul Merchants' overall GF Score™ is 50/100 with 4 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 Paul Merchants (NSE:PML), the current Return-on-Tangible-Asset is 3.79% 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 Paul Merchants (NSE:PML) Overvalued in 2026?
Based on GuruFocus' analysis, Paul Merchants stock appears to be overvalued.
The current stock price of ₹490.50 is trading 37.4% above its estimated GF Value™ of ₹356.93.
GuruFocus considers Paul Merchants to be Significantly Overvalued.
Key valuation signals for NSE:PML:
Return-on-Tangible-Asset: 3.79% (37% below median its 10-year median of 5.97)
GF Value™: ₹356.93 vs. price of ₹490.50 (37.4% above fair value)
Industry Position: 146.1% above the Capital Markets median (#50 of 816)
No single metric tells the full story. See the NSE:PML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Paul Merchants Ltd offers financial services. The company provides foreign exchange, business payment solutions, tours and travels, ticketing, wealth management services, and gold loans. The company's business segments include Forex, Travels, and Others. The company derives key revenue from the Forex segment.
50GF Score
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