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.
Veolia EnvironnementVEOEY +0.51%80 Return-on-Tangible-Asset is 2.24% as of Dec. 2025, which is 48% above its 10-year median of 1.51. GuruFocus rates VEOEY with a GF Score™ of 80/100 and a GF Value™ of $16.87 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 245 Waste Management companies, Veolia Environnement ranks better than 52.65% 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. Veolia Environnement's annualizedNet Income for the quarter that ended in Dec. 2025 was $1,311 Mil. Veolia Environnement's average total tangible assets for the quarter that ended in Dec. 2025 was $58,549 Mil. Therefore, Veolia Environnement's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 2.24%.
The historical rank and industry rank for Veolia Environnement's Return-on-Tangible-Asset or its related term are showing as below:
VEOEY'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.27 Med: 1.51 Max: 2.37
Current: 2.37
During the past 13 years, Veolia Environnement's highest Return-on-Tangible-Asset was 2.37%. The lowest was 0.27%. And the median was 1.51%.
VEOEY's Return-on-Tangible-Asset is ranked better than 52.65% of 245
companies
in the Waste Management industry
Industry Median: 1.94
vs VEOEY: 2.37
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.
Veolia Environnement Return-on-Tangible-Asset Related Terms
Veolia Environnement Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Veolia Environnement'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.
VEOEY vs WM, RSG, WCN: Return-on-Tangible-Asset Comparison
For the Waste Management subindustry, Veolia Environnement'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.
Veolia Environnement Return-on-Tangible-Asset vs Waste Management Industry
For the Waste Management industry and Industrials sector, Veolia Environnement's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Veolia Environnement'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 (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 2.24% mean?
Veolia Environnement (VEOEY) has a Return-on-Tangible-Asset of 2.24% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Veolia Environnement and its competitors. This is 48% above median its historical median of 1.51. Over the past decade, Veolia Environnement's Return-on-Tangible-Asset has ranged from 0.27 to 2.37. According to the industry distribution chart, Veolia Environnement ranks #116 out of 245 companies in the Waste Management industry, placing it in the top 47.3%.
Is Veolia Environnement's Return-on-Tangible-Asset too high?
Veolia Environnement's current Return-on-Tangible-Asset of 2.24% is 48% above median its 10-year median of 1.51. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 2.37. The Waste Management industry median Return-on-Tangible-Asset is 1.94. Veolia Environnement's value of 2.24% is 15.5% above this industry median. Based on the distribution chart, Veolia Environnement ranks #116 out of 245 companies in the Waste Management industry, which is above the industry midpoint. Overall, Veolia Environnement has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Veolia Environnement's Return-on-Tangible-Asset compare to WM and RSG?
According to the Waste Management industry distribution chart, Veolia Environnement ranks #116 out of 245 companies for Return-on-Tangible-Asset. This puts Veolia Environnement in the upper half of its industry. The industry median Return-on-Tangible-Asset is 1.94. Veolia Environnement's value of 2.24% is 15.5% above this benchmark. Historically, Veolia Environnement's own Return-on-Tangible-Asset has ranged from 0.27 to 2.37 over the past decade. While the company's 10-year median is 1.51 vs. the industry median of 1.94, Veolia Environnement 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 Waste Management company?
The median Return-on-Tangible-Asset among Waste Management companies is 1.94, based on 245 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. Veolia Environnement's current Return-on-Tangible-Asset of 2.24% is 15.5% 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 Veolia Environnement and its competitors. For the Waste Management industry, the median Return-on-Tangible-Asset is 1.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Veolia Environnement's current Return-on-Tangible-Asset is 2.24%, which is 48% above median its own 10-year median of 1.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Veolia Environnement stock overvalued right now?
Based on GuruFocus' analysis, Veolia Environnement (VEOEY) is currently considered Modestly Overvalued. The stock's GF Value™ is $16.87, compared to a current price of $21.35 — trading 26.6% above its estimated fair value. The current Return-on-Tangible-Asset is 2.24%, which is 48% above median its 10-year median of 1.51 and 15.5% above the Waste Management industry median of 1.94. Veolia Environnement's overall GF Score™ is 80/100 with 10 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 Veolia Environnement (VEOEY), the current Return-on-Tangible-Asset is 2.24% as of Dec. 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 Veolia Environnement (VEOEY) Overvalued in 2026?
Based on GuruFocus' analysis, Veolia Environnement stock appears to be overvalued.
The current stock price of $21.35 is trading 26.6% above its estimated GF Value™ of $16.87.
GuruFocus considers Veolia Environnement to be Modestly Overvalued.
Key valuation signals for VEOEY:
Return-on-Tangible-Asset: 2.24% (48% above median its 10-year median of 1.51)
GF Value™: $16.87 vs. price of $21.35 (26.6% above fair value)
Industry Position: 15.5% above the Waste Management median (#116 of 245)
No single metric tells the full story. See the VEOEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with significant exposure to France, the United Kingdom, Germany, the United States, and Australia. The third pillar of the group is energy services, giving the group significant exposure to Central Europe. Veolia started to refocus its activities in 2011, leading to the exit of almost half of its countries and its transport activity The integration of most activities of Suez in 2022 drove an EBITDA increase of nearly 40%.
80GF Score
Get the complete analysis for VEOEY
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
VEOEY has been successfully added to your 
