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SHSE:600999's Return-on-Tangible-Asset is ranked better than 57.27% of 812
companies
in the Capital Markets industry
Industry Median: 1.585
vs SHSE:600999: 2.32
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) 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 companyÂ’s 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 companyÂ’s 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.
China Merchants Securities Asset Management Co.,Ltd Return-on-Tangible-Asset Related Terms
China Merchants Securities Asset Management Co.,Ltd Return-on-Tangible-Asset Historical Data
* 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.
China Merchants Securities Asset Management Co.,Ltd Return-on-Tangible-Asset Chart
China Merchants Securities Asset Management Co.,Ltd Annual Data
SHSE:600999 vs MS, GS, SCHW: Return-on-Tangible-Asset Comparison
For the Capital Markets subindustry, China Merchants Securities Asset Management Co.,Ltd'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.
China Merchants Securities Asset Management Co.,Ltd Return-on-Tangible-Asset vs Capital Markets Industry
* 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 3.55% mean?
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) has a Return-on-Tangible-Asset of 3.55% 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 China Merchants Securities Asset Management Co.,Ltd and its competitors. This is 92% above median its historical median of 1.85. Over the past decade, China Merchants Securities Asset Management Co.,Ltd's Return-on-Tangible-Asset has ranged from 1.34 to 2.32. According to the industry distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #347 out of 812 companies in the Capital Markets industry, placing it in the top 42.7%.
Is China Merchants Securities Asset Management Co.,Ltd's Return-on-Tangible-Asset too high?
China Merchants Securities Asset Management Co.,Ltd's current Return-on-Tangible-Asset of 3.55% is 92% above median its 10-year median of 1.85. Over the past 10 years, this metric has ranged from a low of 1.34 to a high of 2.32. The Capital Markets industry median Return-on-Tangible-Asset is 1.59. China Merchants Securities Asset Management Co.,Ltd's value of 3.55% is 124% above this industry median. Based on the distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #347 out of 812 companies in the Capital Markets industry, which is above the industry midpoint. Overall, China Merchants Securities Asset Management Co.,Ltd has a GF Scoreâ„¢ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Merchants Securities Asset Management Co.,Ltd's Return-on-Tangible-Asset compare to MS and GS?
According to the Capital Markets industry distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #347 out of 812 companies for Return-on-Tangible-Asset. This puts China Merchants Securities Asset Management Co.,Ltd in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.59. China Merchants Securities Asset Management Co.,Ltd's value of 3.55% is 124% above this benchmark. Historically, China Merchants Securities Asset Management Co.,Ltd's own Return-on-Tangible-Asset has ranged from 1.34 to 2.32 over the past decade. While the company's 10-year median is 1.85 vs. the industry median of 1.59, China Merchants Securities Asset Management Co.,Ltd 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 1.59, based on 812 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. China Merchants Securities Asset Management Co.,Ltd's current Return-on-Tangible-Asset of 3.55% is 124% 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 China Merchants Securities Asset Management Co.,Ltd and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Asset is 1.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Merchants Securities Asset Management Co.,Ltd's current Return-on-Tangible-Asset is 3.55%, which is 92% above median its own 10-year median of 1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Merchants Securities Asset Management Co.,Ltd stock overvalued right now?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥31.09, compared to a current price of ¥18.54 — trading 40.4% below its estimated fair value. The current Return-on-Tangible-Asset is 3.55%, which is 92% above median its 10-year median of 1.85 and 124% above the Capital Markets industry median of 1.59. China Merchants Securities Asset Management Co.,Ltd's overall GF Score™ is 57/100 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 China Merchants Securities Asset Management Co.,Ltd (SHSE:600999), the current Return-on-Tangible-Asset is 3.55% 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 China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) Overvalued in 2026?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd stock appears to be undervalued.
The current stock price of Â¥18.54 is trading 40.4% below its estimated GF Value™ of Â¥31.09.
GuruFocus considers China Merchants Securities Asset Management Co.,Ltd to be Significantly Undervalued.
Key valuation signals for SHSE:600999:
Return-on-Tangible-Asset: 3.55% (92% above median its 10-year median of 1.85)
GF Value™: Â¥31.09 vs. price of Â¥18.54 (40.4% below fair value)
Industry Position: 124% above the Capital Markets median (#347 of 812)
No single metric tells the full story. See the SHSE:600999 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Merchants Securities Asset Management Co.,Ltd is a financial service provider. The company provides services like investment banking, financial advisory, equity underwriting, asset management, investment advisory, and trading equity securities, among others. Its business is divided into four segments: Wealth management and institutional business; Investment banking; Investment management; and Investment and trading. The Wealth management and institutional business segment, which generates key revenue, engages in the trading of stocks and futures contracts on behalf of clients and includes margin financing, securities lending, and selling financial and other wealth management products.
57GF Score
Get the complete analysis for SHSE:600999
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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