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Fortress MineralsSGX:OAJ -2.22%54 Return-on-Tangible-Asset is 9.71% as of May. 2026, which is 20% below its 10-year median of 12.17. GuruFocus rates SGX:OAJ with a GF Score™ of 54/100 and a GF Value™ of S$0.32 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 633 Steel companies, Fortress Minerals ranks better than 85.78% 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. Fortress Minerals's annualizedNet Income for the quarter that ended in May. 2026 was S$16.85 Mil. Fortress Minerals's average total tangible assets for the quarter that ended in May. 2026 was S$173.55 Mil. Therefore, Fortress Minerals's annualized Return-on-Tangible-Asset for the quarter that ended in May. 2026 was 9.71%.
The historical rank and industry rank for Fortress Minerals's Return-on-Tangible-Asset or its related term are showing as below:
SGX:OAJ'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -3.87 Med: 12.17 Max: 36.13
Current: 8.8
During the past 11 years, Fortress Minerals's highest Return-on-Tangible-Asset was 36.13%. The lowest was -3.87%. And the median was 12.17%.
SGX:OAJ's Return-on-Tangible-Asset is ranked better than 85.78% of 633
companies
in the Steel industry
Industry Median: 2.35
vs SGX:OAJ: 8.80
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.
Fortress Minerals Return-on-Tangible-Asset Related Terms
Fortress Minerals Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Fortress Minerals'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.
SGX:OAJ vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Fortress Minerals'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.
Fortress Minerals Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Fortress Minerals's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Fortress Minerals'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 (May. 2026) net income data.
What does a Return-on-Tangible-Asset of 9.71% mean?
Fortress Minerals (SGX:OAJ) has a Return-on-Tangible-Asset of 9.71% as of May. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Fortress Minerals and its competitors. This is 20% below median its historical median of 12.17. According to the industry distribution chart, Fortress Minerals ranks #90 out of 633 companies in the Steel industry, placing it in the top 14.2%.
Is Fortress Minerals' Return-on-Tangible-Asset too high?
Fortress Minerals' current Return-on-Tangible-Asset of 9.71% is 20% below median its 10-year median of 12.17. The Steel industry median Return-on-Tangible-Asset is 2.35. Fortress Minerals' value of 9.71% is 313.2% above this industry median. Based on the distribution chart, Fortress Minerals ranks #90 out of 633 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Fortress Minerals has a GF Score™ of 54/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Fortress Minerals' Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Fortress Minerals ranks #90 out of 633 companies for Return-on-Tangible-Asset. This places Fortress Minerals in the top 14% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.35. Fortress Minerals' value of 9.71% is 313.2% above this benchmark. While the company's 10-year median is 12.17 vs. the industry median of 2.35, Fortress Minerals 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 2.35, based on 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. Fortress Minerals's current Return-on-Tangible-Asset of 9.71% is 313.2% 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 Fortress Minerals and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fortress Minerals's current Return-on-Tangible-Asset is 9.71%, which is 20% below median its own 10-year median of 12.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fortress Minerals stock overvalued right now?
Based on GuruFocus' analysis, Fortress Minerals (SGX:OAJ) is currently considered Possible Value Trap. The stock's GF Value™ is S$0.32, compared to a current price of S$0.22 — trading 31.3% below its estimated fair value. The current Return-on-Tangible-Asset is 9.71%, which is 20% below median its 10-year median of 12.17 and 313.2% above the Steel industry median of 2.35. Fortress Minerals' overall GF Score™ is 54/100 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 Fortress Minerals (SGX:OAJ), the current Return-on-Tangible-Asset is 9.71% as of May. 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 Fortress Minerals (SGX:OAJ) Overvalued in 2026?
Based on GuruFocus' analysis, Fortress Minerals stock appears to be undervalued.
The current stock price of S$0.22 is trading 31.3% below its estimated GF Value™ of S$0.32.
GuruFocus considers Fortress Minerals to be Possible Value Trap.
Key valuation signals for SGX:OAJ:
Return-on-Tangible-Asset: 9.71% (20% below median its 10-year median of 12.17)
GF Value™: S$0.32 vs. price of S$0.22 (31.3% below fair value)
Industry Position: 313.2% above the Steel median (#90 of 633)
No single metric tells the full story. See the SGX:OAJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fortress Minerals Ltd is an iron ore concentrate miner and exporter in Malaysia. The company engages in the exploration, mining, production, and sale of iron ore with low levels of impurities. It mines the iron ore from its East, Valley, and West Deposits of Bukit Besi Mine situated in the district of Dungun, state of Terengganu in Malaysia. It derives revenue from the sale of iron ore.
54GF Score
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