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. Steel Partners Holdings LP's annualizedNet Income for the quarter that ended in Sep. 2025 was $285 Mil. Steel Partners Holdings LP's average total tangible assets for the quarter that ended in Sep. 2025 was $3,518 Mil. Therefore, Steel Partners Holdings LP's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2025 was 8.10%.
The historical rank and industry rank for Steel Partners Holdings LP's Return-on-Tangible-Asset or its related term are showing as below:
SPLP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.72 Med: 4.34 Max: 9.87
Current: 7.39
During the past 13 years, Steel Partners Holdings LP's highest Return-on-Tangible-Asset was 9.87%. The lowest was -1.72%. And the median was 4.34%.
SPLP's Return-on-Tangible-Asset is not ranked
in the Conglomerates industry.
Industry Median: 2.69
vs SPLP: 7.39
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.
Steel Partners Holdings LP Return-on-Tangible-Asset Related Terms
Steel Partners Holdings 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.
SPLP vs MATW, DLX, FIP: Return-on-Tangible-Asset Comparison
For the Conglomerates subindustry, Steel Partners Holdings 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.
Steel Partners Holdings LP Return-on-Tangible-Asset vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings 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 (Sep. 2025) net income data.
What does a Return-on-Tangible-Asset of 8.10% mean?
Steel Partners Holdings LP (SPLP) has a Return-on-Tangible-Asset of 8.10% as of Sep. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Steel Partners Holdings LP and its competitors. This is 87% above median its historical median of 4.34.
Is Steel Partners Holdings LP's Return-on-Tangible-Asset too high?
Steel Partners Holdings LP's current Return-on-Tangible-Asset of 8.10% is 87% above median its 10-year median of 4.34. The Conglomerates industry median Return-on-Tangible-Asset is 2.69. Steel Partners Holdings LP's value of 8.10% is 201.1% above this industry median. Overall, Steel Partners Holdings LP has a GF Scoreâ„¢ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's Return-on-Tangible-Asset compare to MATW and DLX?
Steel Partners Holdings LP's Return-on-Tangible-Asset of 8.10% can be compared against companies in the Conglomerates industry. The industry median Return-on-Tangible-Asset is 2.69. Steel Partners Holdings LP's value of 8.10% is 201.1% above this benchmark. While the company's 10-year median is 4.34 vs. the industry median of 2.69, Steel Partners Holdings 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 a Conglomerates company?
The median Return-on-Tangible-Asset among Conglomerates companies is 2.69, based on 565 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. Steel Partners Holdings LP's current Return-on-Tangible-Asset of 8.10% is 201.1% 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 Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Asset is 2.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current Return-on-Tangible-Asset is 8.10%, which is 87% above median its own 10-year median of 4.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current Return-on-Tangible-Asset of 8.10%. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current Return-on-Tangible-Asset is 8.10%, which is 87% above median its 10-year median of 4.34 and 201.1% above the Conglomerates industry median of 2.69. Steel Partners Holdings LP's overall GF Score™ is 66/100 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 Steel Partners Holdings LP (SPLP), the current Return-on-Tangible-Asset is 8.10% as of Sep. 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 Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
Return-on-Tangible-Asset: 8.10% (87% above median its 10-year median of 4.34)
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
Industry Position: 201.1% above the Conglomerates median
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
Get the complete analysis for SPLP
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SPLP has been successfully added to your 
