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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. Cognor Holding's annualizedNet Income for the quarter that ended in Mar. 2026 was zł-4 Mil. Cognor Holding's average total tangible assets for the quarter that ended in Mar. 2026 was zł2,797 Mil. Therefore, Cognor Holding's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -0.15%.
The historical rank and industry rank for Cognor Holding's Return-on-Tangible-Asset or its related term are showing as below:
WAR:COG'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.68 Med: 4.2 Max: 32.47
Current: -4.03
During the past 13 years, Cognor Holding's highest Return-on-Tangible-Asset was 32.47%. The lowest was -4.68%. And the median was 4.20%.
WAR:COG's Return-on-Tangible-Asset is ranked worse than 85.02% of 634
companies
in the Steel industry
Industry Median: 1.995
vs WAR:COG: -4.03
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.
Cognor Holding Return-on-Tangible-Asset Related Terms
Cognor Holding Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Cognor Holding'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.
WAR:COG vs NUE, STLD, RS: Return-on-Tangible-Asset Comparison
For the Steel subindustry, Cognor Holding'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.
Cognor Holding Return-on-Tangible-Asset vs Steel Industry
For the Steel industry and Basic Materials sector, Cognor Holding's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Cognor Holding'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 -0.15% mean?
Cognor Holding (WAR:COG) has a Return-on-Tangible-Asset of -0.15% 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 Cognor Holding and its competitors. According to the industry distribution chart, Cognor Holding ranks #539 out of 634 companies in the Steel industry, placing it in the top 85%.
Is Cognor Holding's Return-on-Tangible-Asset too high?
Cognor Holding's current Return-on-Tangible-Asset is -0.15%. Based on the distribution chart, Cognor Holding ranks #539 out of 634 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Cognor Holding has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Cognor Holding's Return-on-Tangible-Asset compare to NUE and STLD?
According to the Steel industry distribution chart, Cognor Holding ranks #539 out of 634 companies for Return-on-Tangible-Asset. This places Cognor Holding in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.00. 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 Steel company?
The median Return-on-Tangible-Asset among Steel companies is 2.00, based on 634 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. 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 Cognor Holding and its competitors. For the Steel industry, the median Return-on-Tangible-Asset is 2.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cognor Holding's current Return-on-Tangible-Asset is -0.15%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cognor Holding stock overvalued right now?
Based on GuruFocus' analysis, Cognor Holding (WAR:COG) is currently considered Fairly Valued. The stock's GF Value™ is zł5.69, compared to a current price of zł5.80 — trading 1.9% above its estimated fair value. The current Return-on-Tangible-Asset is -0.15%. Cognor Holding's overall GF Score™ is 71/100 with 6 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 Cognor Holding (WAR:COG), the current Return-on-Tangible-Asset is -0.15% 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 Cognor Holding (WAR:COG) Overvalued in 2026?
Based on GuruFocus' analysis, Cognor Holding stock appears to be overvalued.
The current stock price of zł5.80 is trading 1.9% above its estimated GF Value™ of zł5.69.
GuruFocus considers Cognor Holding to be Fairly Valued.
Key valuation signals for WAR:COG:
Return-on-Tangible-Asset: -0.15%
GF Value™: zł5.69 vs. price of zł5.80 (1.9% above fair value)
No single metric tells the full story. See the WAR:COG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cognor Holding SA operates in the steel industry. Along with its subsidiaries, the company is engaged in the business of scrap collection, scrap processing into steel billets, and steel products. Its product portfolio comprises metal bars, steel scrap, steel slabs, flat plates, round bars, and steel alloys, among others. The group operates in the following business segments: Zlomrex Metal (ZLMET), HSJ, Ferrostal (FER), OMS, JAP, and Others. The majority of its revenue is generated from the Ferrostal (FER) segment, which is involved in the production and sale of semi-finished steel products (raw steel) and final steel products to external customers. Geographically, the group generates maximum revenue from Poland, followed by Germany, Czechia, and other countries.
71GF Score
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