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Suburban Propane Partners LPSPH +0.27%57 Return-on-Tangible-Asset is 47.55% as of Mar. 2026, which is 440% above its 10-year median of 8.81. GuruFocus rates SPH with a GF Score™ of 57/100 and a GF Value™ of $18.09 (Fairly Valued). The stock has 3 warning signs investors should review. Among 509 Utilities - Regulated companies, Suburban Propane Partners LP ranks better than 91.55% on this metric.
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.
Suburban Propane Partners LP Return-on-Tangible-Asset Related Terms
Suburban Propane Partners LP 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.
SPH vs NWN, RGCO, OPAL: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Gas subindustry, Suburban Propane Partners LP'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.
Suburban Propane Partners LP Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Suburban Propane Partners LP's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Suburban Propane Partners LP'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 (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 47.55% mean?
Suburban Propane Partners LP (SPH) has a Return-on-Tangible-Asset of 47.55% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Suburban Propane Partners LP and its competitors. This is 440% above median its historical median of 8.81. Over the past decade, Suburban Propane Partners LP's Return-on-Tangible-Asset has ranged from 1.44 to 15.06. According to the industry distribution chart, Suburban Propane Partners LP ranks #43 out of 509 companies in the Utilities - Regulated industry, placing it in the top 8.4%.
Is Suburban Propane Partners LP's Return-on-Tangible-Asset too high?
Suburban Propane Partners LP's current Return-on-Tangible-Asset of 47.55% is 440% above median its 10-year median of 8.81. Over the past 10 years, this metric has ranged from a low of 1.44 to a high of 15.06. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.30. Suburban Propane Partners LP's value of 47.55% is 1340.9% above this industry median. Based on the distribution chart, Suburban Propane Partners LP ranks #43 out of 509 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Suburban Propane Partners LP has a GF Score™ of 57/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Suburban Propane Partners LP's Return-on-Tangible-Asset compare to NWN and RGCO?
According to the Utilities - Regulated industry distribution chart, Suburban Propane Partners LP ranks #43 out of 509 companies for Return-on-Tangible-Asset. This places Suburban Propane Partners LP in the top 8% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.30. Suburban Propane Partners LP's value of 47.55% is 1340.9% above this benchmark. Historically, Suburban Propane Partners LP's own Return-on-Tangible-Asset has ranged from 1.44 to 15.06 over the past decade. While the company's 10-year median is 8.81 vs. the industry median of 3.30, Suburban Propane Partners LP 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 Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.30, based on 509 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. Suburban Propane Partners LP's current Return-on-Tangible-Asset of 47.55% is 1340.9% 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 Suburban Propane Partners LP and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Suburban Propane Partners LP's current Return-on-Tangible-Asset is 47.55%, which is 440% above median its own 10-year median of 8.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Suburban Propane Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Suburban Propane Partners LP (SPH) is currently considered Fairly Valued. The stock's GF Value™ is $18.09, compared to a current price of $18.66 — trading 3.2% above its estimated fair value. The current Return-on-Tangible-Asset is 47.55%, which is 440% above median its 10-year median of 8.81 and 1340.9% above the Utilities - Regulated industry median of 3.30. Suburban Propane Partners LP'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 Suburban Propane Partners LP (SPH), the current Return-on-Tangible-Asset is 47.55% as of Mar. 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 Suburban Propane Partners LP (SPH) Overvalued in 2026?
Based on GuruFocus' analysis, Suburban Propane Partners LP stock appears to be overvalued.
The current stock price of $18.66 is trading 3.2% above its estimated GF Value™ of $18.09.
GuruFocus considers Suburban Propane Partners LP to be Fairly Valued.
Key valuation signals for SPH:
Return-on-Tangible-Asset: 47.55% (440% above median its 10-year median of 8.81)
GF Value™: $18.09 vs. price of $18.66 (3.2% above fair value)
Industry Position: 1340.9% above the Utilities - Regulated median (#43 of 509)
No single metric tells the full story. See the SPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Suburban Propane Partners LP distributes propane, renewable propane, renewable natural gas (RNG), fuel oil, refined fuels, and markets natural gas and electricity in deregulated markets. It produces and invests in low-carbon fuel alternatives. The company installs and services home comfort heating and ventilation equipment and distributes fuel oil, kerosene, diesel, and gasoline to about 25,000 residential and commercial customers mainly in the U.S. northeast. It operates three segments: Propane, Fuel Oil and Refined Fuels, and Natural Gas and Electricity, with the Propane segment generating the majority of revenue. Propane, a by-product of natural gas processing and petroleum refining, is a clean-burning energy source known for transportability and ease of use.
57GF Score
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