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Spruce BiosciencesSPRB -3.38%40 Return-on-Tangible-Asset is -89.87% as of Mar. 2026. GuruFocus rates SPRB with a GF Score™ of 40/100 and a GF Value™ of $4.08 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,416 Biotechnology companies, Spruce Biosciences ranks worse than 79.87% 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. Spruce Biosciences's annualizedNet Income for the quarter that ended in Mar. 2026 was $-49.06 Mil. Spruce Biosciences's average total tangible assets for the quarter that ended in Mar. 2026 was $54.59 Mil. Therefore, Spruce Biosciences's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -89.87%.
The historical rank and industry rank for Spruce Biosciences's Return-on-Tangible-Asset or its related term are showing as below:
SPRB'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -276.5 Med: -60.84 Max: -29.23
Current: -104.49
During the past 8 years, Spruce Biosciences's highest Return-on-Tangible-Asset was -29.23%. The lowest was -276.50%. And the median was -60.84%.
SPRB's Return-on-Tangible-Asset is ranked worse than 79.87% of 1416
companies
in the Biotechnology industry
Industry Median: -35.76
vs SPRB: -104.49
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.
Spruce Biosciences Return-on-Tangible-Asset Related Terms
Spruce Biosciences Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Spruce Biosciences'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.
SPRB vs TLSA, MIST, TNYA: Return-on-Tangible-Asset Comparison
For the Biotechnology subindustry, Spruce Biosciences'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.
Spruce Biosciences Return-on-Tangible-Asset vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Spruce Biosciences's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Spruce Biosciences'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 -89.87% mean?
Spruce Biosciences (SPRB) has a Return-on-Tangible-Asset of -89.87% 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 Spruce Biosciences and its competitors. According to the industry distribution chart, Spruce Biosciences ranks #1131 out of 1416 companies in the Biotechnology industry, placing it in the top 79.9%.
Is Spruce Biosciences' Return-on-Tangible-Asset too high?
Spruce Biosciences' current Return-on-Tangible-Asset is -89.87%. Based on the distribution chart, Spruce Biosciences ranks #1131 out of 1416 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Spruce Biosciences has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spruce Biosciences' Return-on-Tangible-Asset compare to TLSA and MIST?
According to the Biotechnology industry distribution chart, Spruce Biosciences ranks #1131 out of 1416 companies for Return-on-Tangible-Asset. This places Spruce Biosciences in the lower half of its industry. 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 Biotechnology company?
A good Return-on-Tangible-Asset depends on the Biotechnology industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Spruce Biosciences and its competitors. Spruce Biosciences's current Return-on-Tangible-Asset is -89.87%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spruce Biosciences stock overvalued right now?
Based on GuruFocus' analysis, Spruce Biosciences (SPRB) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.08, compared to a current price of $48.45 — trading 1087.5% above its estimated fair value. The current Return-on-Tangible-Asset is -89.87%. Spruce Biosciences' overall GF Score™ is 40/100 with 1 warning sign 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 Spruce Biosciences (SPRB), the current Return-on-Tangible-Asset is -89.87% 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 Spruce Biosciences (SPRB) Overvalued in 2026?
Based on GuruFocus' analysis, Spruce Biosciences stock appears to be overvalued.
The current stock price of $48.45 is trading 1087.5% above its estimated GF Value™ of $4.08.
GuruFocus considers Spruce Biosciences to be Significantly Overvalued.
Key valuation signals for SPRB:
Return-on-Tangible-Asset: -89.87%
GF Value™: $4.08 vs. price of $48.45 (1087.5% above fair value)
No single metric tells the full story. See the SPRB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spruce Biosciences Inc is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with unmet medical needs. The company develops biologics and small-molecule product candidates aimed at addressing diseases with unmet medical needs and limited or no approved therapies. Its product candidate, TA-ERT for the treatment of Mucopolysaccharidosis Type IIIB (MPS IIIB), is a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase (rhNAGLU) intended as an enzyme replacement therapy for patients who lack rhNAGLU enzyme activity. TA-ERT is designed to restore rhNAGLU enzyme activity in the central nervous system following intracerebroventricular injection and promote clearance of heparan sulfate in the brain.
40GF Score
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