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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. Ratnamani Metals & Tubes's annualizedNet Income for the quarter that ended in Jun. 2026 was ₹3,287 Mil. Ratnamani Metals & Tubes's average total tangible assets for the quarter that ended in Jun. 2026 was ₹53,664 Mil. Therefore, Ratnamani Metals & Tubes's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 6.12%.
The historical rank and industry rank for Ratnamani Metals & Tubes's Return-on-Tangible-Asset or its related term are showing as below:
NSE:RATNAMANI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 8.54 Med: 11.91 Max: 16.05
Current: 8.54
During the past 13 years, Ratnamani Metals & Tubes's highest Return-on-Tangible-Asset was 16.05%. The lowest was 8.54%. And the median was 11.91%.
NSE:RATNAMANI's Return-on-Tangible-Asset is ranked better than 89.59% of 634
companies
in the Steel industry
Industry Median: 2.095
vs NSE:RATNAMANI: 8.54
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.
Ratnamani Metals & Tubes Return-on-Tangible-Asset Related Terms
Ratnamani Metals & Tubes Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Ratnamani Metals & Tubes'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:RATNAMANI vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Ratnamani Metals & Tubes'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.
Ratnamani Metals & Tubes Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Ratnamani Metals & Tubes's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Ratnamani Metals & Tubes'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 6.12% mean?
Ratnamani Metals & Tubes (NSE:RATNAMANI) has a Return-on-Tangible-Asset of 6.12% 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 Ratnamani Metals & Tubes and its competitors. This is 49% below median its historical median of 11.91. Over the past decade, Ratnamani Metals & Tubes' Return-on-Tangible-Asset has ranged from 8.54 to 16.05. According to the industry distribution chart, Ratnamani Metals & Tubes ranks #66 out of 634 companies in the Steel industry, placing it in the top 10.4%.
Is Ratnamani Metals & Tubes' Return-on-Tangible-Asset too high?
Ratnamani Metals & Tubes' current Return-on-Tangible-Asset of 6.12% is 49% below median its 10-year median of 11.91. Over the past 10 years, this metric has ranged from a low of 8.54 to a high of 16.05. The Steel industry median Return-on-Tangible-Asset is 2.10. Ratnamani Metals & Tubes' value of 6.12% is 192.1% above this industry median. Based on the distribution chart, Ratnamani Metals & Tubes ranks #66 out of 634 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Ratnamani Metals & Tubes has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ratnamani Metals & Tubes' Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Ratnamani Metals & Tubes ranks #66 out of 634 companies for Return-on-Tangible-Asset. This places Ratnamani Metals & Tubes in the top 10% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.10. Ratnamani Metals & Tubes' value of 6.12% is 192.1% above this benchmark. Historically, Ratnamani Metals & Tubes' own Return-on-Tangible-Asset has ranged from 8.54 to 16.05 over the past decade. While the company's 10-year median is 11.91 vs. the industry median of 2.10, Ratnamani Metals & Tubes 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 2.10, based on 634 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. Ratnamani Metals & Tubes's current Return-on-Tangible-Asset of 6.12% is 192.1% 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 Ratnamani Metals & Tubes and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ratnamani Metals & Tubes's current Return-on-Tangible-Asset is 6.12%, which is 49% below median its own 10-year median of 11.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ratnamani Metals & Tubes stock overvalued right now?
Based on GuruFocus' analysis, Ratnamani Metals & Tubes (NSE:RATNAMANI) is currently considered Fairly Valued. The stock's GF Value™ is ₹2,449.11, compared to a current price of ₹2,255.00 — trading 7.9% below its estimated fair value. The current Return-on-Tangible-Asset is 6.12%, which is 49% below median its 10-year median of 11.91 and 192.1% above the Steel industry median of 2.10. Ratnamani Metals & Tubes' overall GF Score™ is 93/100 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 Ratnamani Metals & Tubes (NSE:RATNAMANI), the current Return-on-Tangible-Asset is 6.12% 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 Ratnamani Metals & Tubes (NSE:RATNAMANI) Overvalued in 2026?
Based on GuruFocus' analysis, Ratnamani Metals & Tubes stock appears to be undervalued.
The current stock price of ₹2,255.00 is trading 7.9% below its estimated GF Value™ of ₹2,449.11.
GuruFocus considers Ratnamani Metals & Tubes to be Fairly Valued.
Key valuation signals for NSE:RATNAMANI:
Return-on-Tangible-Asset: 6.12% (49% below median its 10-year median of 11.91)
GF Value™: ₹2,449.11 vs. price of ₹2,255.00 (7.9% below fair value)
Industry Position: 192.1% above the Steel median (#66 of 634)
No single metric tells the full story. See the NSE:RATNAMANI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressThe First Avenue Road, Off 132 Ft Ring Road, The First, A & B Wing, 9th Floor, Behind Keshav Baug Party Plot, Vastrapur, Ahmedabad, GJ, IND, 380015
Ratnamani Metals & Tubes Ltd is a manufacturer of stainless steel pipes, tubes, and carbon steel pipes. The company's product mix consists of stainless steel tubes and pipes, carbon steel pipes, and external and internal coating solutions. It operates in the Steel Tubes and Pipes segment. The company's end market by revenue is India. The firm's manufacturing facilities are located in Kutch, Indrad, and Chhatral in the state of Gujarat.
93GF Score
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