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Royce Micro-Cap TrustRMT -1.34%52 Return-on-Tangible-Asset is 13.86% as of Dec. 2025, which is 4% above its 10-year median of 13.37. GuruFocus rates RMT with a GF Score™ of 52/100 and a GF Value™ of $10.44 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,633 Asset Management companies, Royce Micro-Cap Trust ranks better than 79.18% 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. Royce Micro-Cap Trust's annualizedNet Income for the quarter that ended in Dec. 2025 was $85.14 Mil. Royce Micro-Cap Trust's average total tangible assets for the quarter that ended in Dec. 2025 was $614.37 Mil. Therefore, Royce Micro-Cap Trust's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 13.86%.
The historical rank and industry rank for Royce Micro-Cap Trust's Return-on-Tangible-Asset or its related term are showing as below:
RMT'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -18.44 Med: 13.37 Max: 18.76
Current: 14.64
During the past 9 years, Royce Micro-Cap Trust's highest Return-on-Tangible-Asset was 18.76%. The lowest was -18.44%. And the median was 13.37%.
RMT's Return-on-Tangible-Asset is ranked better than 79.18% of 1633
companies
in the Asset Management industry
Industry Median: 4.25
vs RMT: 14.64
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.
Royce Micro-Cap Trust Return-on-Tangible-Asset Related Terms
Royce Micro-Cap Trust Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Royce Micro-Cap Trust'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.
RMT vs GGN, CGBD, GCMG: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Royce Micro-Cap Trust'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.
Royce Micro-Cap Trust Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Royce Micro-Cap Trust's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Royce Micro-Cap Trust'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 two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 13.86% mean?
Royce Micro-Cap Trust (RMT) has a Return-on-Tangible-Asset of 13.86% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Royce Micro-Cap Trust and its competitors. This is near median its historical median of 13.37. According to the industry distribution chart, Royce Micro-Cap Trust ranks #340 out of 1633 companies in the Asset Management industry, placing it in the top 20.8%.
Is Royce Micro-Cap Trust's Return-on-Tangible-Asset too high?
Royce Micro-Cap Trust's current Return-on-Tangible-Asset of 13.86% is near median its 10-year median of 13.37. The Asset Management industry median Return-on-Tangible-Asset is 4.25. Royce Micro-Cap Trust's value of 13.86% is 226.1% above this industry median. Based on the distribution chart, Royce Micro-Cap Trust ranks #340 out of 1633 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Royce Micro-Cap Trust has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Royce Micro-Cap Trust's Return-on-Tangible-Asset compare to GGN and CGBD?
According to the Asset Management industry distribution chart, Royce Micro-Cap Trust ranks #340 out of 1633 companies for Return-on-Tangible-Asset. This places Royce Micro-Cap Trust in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 4.25. Royce Micro-Cap Trust's value of 13.86% is 226.1% above this benchmark. While the company's 10-year median is 13.37 vs. the industry median of 4.25, Royce Micro-Cap Trust 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 an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.25, based on 1,633 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. Royce Micro-Cap Trust's current Return-on-Tangible-Asset of 13.86% is 226.1% 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 Royce Micro-Cap Trust and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Royce Micro-Cap Trust's current Return-on-Tangible-Asset is 13.86%, which is near median its own 10-year median of 13.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Royce Micro-Cap Trust stock overvalued right now?
Based on GuruFocus' analysis, Royce Micro-Cap Trust (RMT) is currently considered Significantly Overvalued. The stock's GF Value™ is $10.44, compared to a current price of $13.96 — trading 33.7% above its estimated fair value. The current Return-on-Tangible-Asset is 13.86%, which is near median its 10-year median of 13.37 and 226.1% above the Asset Management industry median of 4.25. Royce Micro-Cap Trust's overall GF Score™ is 52/100 with 8 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 Royce Micro-Cap Trust (RMT), the current Return-on-Tangible-Asset is 13.86% as of Dec. 2025. 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 Royce Micro-Cap Trust (RMT) Overvalued in 2026?
Based on GuruFocus' analysis, Royce Micro-Cap Trust stock appears to be overvalued.
The current stock price of $13.96 is trading 33.7% above its estimated GF Value™ of $10.44.
GuruFocus considers Royce Micro-Cap Trust to be Significantly Overvalued.
Key valuation signals for RMT:
Return-on-Tangible-Asset: 13.86% (near median its 10-year median of 13.37)
GF Value™: $10.44 vs. price of $13.96 (33.7% above fair value)
Industry Position: 226.1% above the Asset Management median (#340 of 1633)
No single metric tells the full story. See the RMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Royce Micro-Cap Trust Inc is a diversified closed-end investment company. The company is engaged in investing in micro-cap securities. It invests in the consumer discretionary sector, including diversified consumer services, hotels, household durables, leisure products, and luxury goods. Consumer staples sector, including beverages, food, and staples retailing, food products, and personal products, Energy sector, including energy equipment and services, and oil, gas, and consumable fuels. The company also invests in other sectors, including healthcare, financials, industrials, IT, telecommunications, and materials.
52GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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