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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
TRX GoldTRX +6.32%44 Return-on-Tangible-Asset is 6.83% as of May. 2026. GuruFocus rates TRX with a GF Score™ of 44/100 and a GF Value™ of $1.17 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 2,664 Metals & Mining companies, TRX Gold ranks better than 53.94% 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. TRX Gold's annualizedNet Income for the quarter that ended in May. 2026 was $11.4 Mil. TRX Gold's average total tangible assets for the quarter that ended in May. 2026 was $166.2 Mil. Therefore, TRX Gold's annualized Return-on-Tangible-Asset for the quarter that ended in May. 2026 was 6.83%.
The historical rank and industry rank for TRX Gold's Return-on-Tangible-Asset or its related term are showing as below:
TRX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -66.69 Med: -10.81 Max: 2.94
Current: -13.83
During the past 13 years, TRX Gold's highest Return-on-Tangible-Asset was 2.94%. The lowest was -66.69%. And the median was -10.81%.
TRX's Return-on-Tangible-Asset is ranked better than 53.94% of 2664
companies
in the Metals & Mining industry
Industry Median: -17.41
vs TRX: -13.83
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.
TRX Gold Return-on-Tangible-Asset Related Terms
TRX Gold Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for TRX Gold'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.
TRX vs NEM, AU: Return-on-Tangible-Asset Comparison
For the Gold subindustry, TRX Gold'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.
TRX Gold Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, TRX Gold's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where TRX Gold'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 6.83% mean?
TRX Gold (TRX) has a Return-on-Tangible-Asset of 6.83% 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 TRX Gold and its competitors. According to the industry distribution chart, TRX Gold ranks #1227 out of 2664 companies in the Metals & Mining industry, placing it in the top 46.1%.
Is TRX Gold's Return-on-Tangible-Asset too high?
TRX Gold's current Return-on-Tangible-Asset is 6.83%. Based on the distribution chart, TRX Gold ranks #1227 out of 2664 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, TRX Gold has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does TRX Gold's Return-on-Tangible-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, TRX Gold ranks #1227 out of 2664 companies for Return-on-Tangible-Asset. This puts TRX Gold in the upper 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 Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining 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 TRX Gold and its competitors. TRX Gold's current Return-on-Tangible-Asset is 6.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TRX Gold stock overvalued right now?
Based on GuruFocus' analysis, TRX Gold (TRX) is currently considered Possible Value Trap. The stock's GF Value™ is $1.17, compared to a current price of $0.82 — trading 30.1% below its estimated fair value. The current Return-on-Tangible-Asset is 6.83%. TRX Gold's overall GF Score™ is 44/100 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 TRX Gold (TRX), the current Return-on-Tangible-Asset is 6.83% 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 TRX Gold (TRX) Overvalued in 2026?
Based on GuruFocus' analysis, TRX Gold stock appears to be undervalued.
The current stock price of $0.82 is trading 30.1% below its estimated GF Value™ of $1.17.
GuruFocus considers TRX Gold to be Possible Value Trap.
Key valuation signals for TRX:
Return-on-Tangible-Asset: 6.83%
GF Value™: $1.17 vs. price of $0.82 (30.1% below fair value)
No single metric tells the full story. See the TRX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TRX Gold Corp is engaged in the exploration, development, and production of mineral property interests in the United Republic of Tanzania, focused on development and mining operations, and on exploring and evaluating its mineral properties. The business of exploring and mining for minerals involves a high degree of risk, and the underlying value of the mineral properties depends on the existence and economic recovery of mineral resources and reserves, as well as the ability to raise long-term financing to continue development. The company is focused on the Buckreef Gold Project, which comprises five prospects: Buckreef, Bingwa, Tembo, Eastern Porphyry, and Buziba, and includes three main mineralized zones: Buckreef South, Buckreef Main, and Buckreef North.
44GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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