Northland PowerTSX:NPI +0.97%73 Return-on-Tangible-Asset is 2.88% as of Mar. 2026, which is 45% above its 10-year median of 1.99. GuruFocus rates TSX:NPI with a GF Score™ of 73/100 and a GF Value™ of C$24.26 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 448 Utilities - Independent Power Producers companies, Northland Power ranks worse than 69.87% 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. Northland Power's annualizedNet Income for the quarter that ended in Mar. 2026 was C$354 Mil. Northland Power's average total tangible assets for the quarter that ended in Mar. 2026 was C$12,296 Mil. Therefore, Northland Power's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.88%.
The historical rank and industry rank for Northland Power's Return-on-Tangible-Asset or its related term are showing as below:
TSX:NPI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.37 Med: 1.99 Max: 6.73
Current: -1.13
During the past 13 years, Northland Power's highest Return-on-Tangible-Asset was 6.73%. The lowest was -1.37%. And the median was 1.99%.
TSX:NPI's Return-on-Tangible-Asset is ranked worse than 69.87% of 448
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.295
vs TSX:NPI: -1.13
Northland Power (TSX:NPI) 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 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.
Northland Power Return-on-Tangible-Asset Related Terms
Northland Power Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Northland Power'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.
Northland Power Return-on-Tangible-Asset Competitor Comparison
For the Utilities - Renewable subindustry, Northland Power'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.
Northland Power Return-on-Tangible-Asset vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Northland Power's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Northland Power'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 2.88% mean?
Northland Power (TSX:NPI) has a Return-on-Tangible-Asset of 2.88% 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 Northland Power and its competitors. This is 45% above median its historical median of 1.99. According to the industry distribution chart, Northland Power ranks #313 out of 448 companies in the Utilities - Independent Power Producers industry, placing it in the top 69.9%.
Is Northland Power's Return-on-Tangible-Asset too high?
Northland Power's current Return-on-Tangible-Asset of 2.88% is 45% above median its 10-year median of 1.99. The Utilities - Independent Power Producers industry median Return-on-Tangible-Asset is 1.30. Northland Power's value of 2.88% is 122.4% above this industry median. Based on the distribution chart, Northland Power ranks #313 out of 448 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Northland Power has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Northland Power's Return-on-Tangible-Asset compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Northland Power ranks #313 out of 448 companies for Return-on-Tangible-Asset. This places Northland Power in the lower half of its industry. The industry median Return-on-Tangible-Asset is 1.30. Northland Power's value of 2.88% is 122.4% above this benchmark. While the company's 10-year median is 1.99 vs. the industry median of 1.30, Northland Power 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 - Independent Power Producers company?
The median Return-on-Tangible-Asset among Utilities - Independent Power Producers companies is 1.30, based on 448 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. Northland Power's current Return-on-Tangible-Asset of 2.88% is 122.4% 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 Northland Power and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Asset is 1.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northland Power's current Return-on-Tangible-Asset is 2.88%, which is 45% above median its own 10-year median of 1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northland Power stock overvalued right now?
Based on GuruFocus' analysis, Northland Power (TSX:NPI) is currently considered Modestly Undervalued. The stock's GF Value™ is C$24.26, compared to a current price of C$21.92 — trading 9.6% below its estimated fair value. The current Return-on-Tangible-Asset is 2.88%, which is 45% above median its 10-year median of 1.99 and 122.4% above the Utilities - Independent Power Producers industry median of 1.30. Northland Power's overall GF Score™ is 73/100 with 7 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 Northland Power (TSX:NPI), the current Return-on-Tangible-Asset is 2.88% 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 Northland Power (TSX:NPI) Overvalued in 2026?
Based on GuruFocus' analysis, Northland Power stock appears to be undervalued.
The current stock price of C$21.92 is trading 9.6% below its estimated GF Value™ of C$24.26.
GuruFocus considers Northland Power to be Modestly Undervalued.
Key valuation signals for TSX:NPI:
Return-on-Tangible-Asset: 2.88% (45% above median its 10-year median of 1.99)
GF Value™: C$24.26 vs. price of C$21.92 (9.6% below fair value)
Industry Position: 122.4% above the Utilities - Independent Power Producers median (#313 of 448)
No single metric tells the full story. See the TSX:NPI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northland Power develops, constructs, and operates sustainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company's largest segment over the long term. Northland's growth opportunities are global and span North America, Europe, Latin America, and Asia.
73GF Score
Get the complete analysis for TSX:NPI
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
TSX:NPI has been successfully added to your 
