Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
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. Commerce Split's annualizedNet Income for the quarter that ended in May. 2024 was C$3.27 Mil. Commerce Split's average total tangible assets for the quarter that ended in May. 2024 was C$10.37 Mil. Therefore, Commerce Split's annualized Return-on-Tangible-Asset for the quarter that ended in May. 2024 was 31.55%.
The historical rank and industry rank for Commerce Split's Return-on-Tangible-Asset or its related term are showing as below:
TSX:YCM's Return-on-Tangible-Asset is not ranked *
in the Asset Management industry.
Industry Median: 4.23 * Ranked among companies with meaningful Return-on-Tangible-Asset only.
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.
Commerce Split Return-on-Tangible-Asset Related Terms
Commerce Split Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Commerce Split'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.
TSX:YCM vs BLK, BX, KKR: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Commerce Split'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.
Commerce Split Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Commerce Split's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Commerce Split'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 two times the semi-annual (May. 2024) net income data.
What does a Return-on-Tangible-Asset of 31.55% mean?
Commerce Split (TSX:YCM) has a Return-on-Tangible-Asset of 31.55% as of May. 2024. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Commerce Split and its competitors.
Is Commerce Split's Return-on-Tangible-Asset too high?
Commerce Split's current Return-on-Tangible-Asset is 31.55%. The Asset Management industry median Return-on-Tangible-Asset is 4.23. Commerce Split's value of 31.55% is 645.9% above this industry median. Overall, Commerce Split has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does Commerce Split's Return-on-Tangible-Asset compare to BLK and BX?
Commerce Split's Return-on-Tangible-Asset of 31.55% can be compared against companies in the Asset Management industry. The industry median Return-on-Tangible-Asset is 4.23. Commerce Split's value of 31.55% is 645.9% above this benchmark. 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 Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.23, based on 1,638 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. Commerce Split's current Return-on-Tangible-Asset of 31.55% is 645.9% 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 Commerce Split and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Commerce Split's current Return-on-Tangible-Asset is 31.55%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Commerce Split stock overvalued right now?
Commerce Split (TSX:YCM) has a current Return-on-Tangible-Asset of 31.55%. The current Return-on-Tangible-Asset is 31.55% and 645.9% above the Asset Management industry median of 4.23. Commerce Split's overall GF Score™ is 10/100. 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 Commerce Split (TSX:YCM), the current Return-on-Tangible-Asset is 31.55% as of May. 2024. 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.
Commerce Split Corp is a mutual fund company. It invests in common shares of the Canadian Imperial Bank of Commerce. The corporation offers three types of shares, a Capital share, a Class I Preferred, and a Class II Preferred.
10GF Score
Get the complete analysis for TSX:YCM
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:YCM has been successfully added to your 
