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Aena SMEXMAD:AENA -0.81%99 Return-on-Tangible-Asset is 7.80% as of Mar. 2026, which is 10% below its 10-year median of 8.68. GuruFocus rates XMAD:AENA with a GF Score™ of 99/100 and a GF Value™ of €24.19 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,011 Transportation companies, Aena SME ranks better than 95.85% 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. Aena SME's annualizedNet Income for the quarter that ended in Mar. 2026 was €1,318 Mil. Aena SME's average total tangible assets for the quarter that ended in Mar. 2026 was €16,898 Mil. Therefore, Aena SME's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 7.80%.
The historical rank and industry rank for Aena SME's Return-on-Tangible-Asset or its related term are showing as below:
XMAD:AENA'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -3.15 Med: 8.68 Max: 17.76
Current: 17.76
During the past 13 years, Aena SME's highest Return-on-Tangible-Asset was 17.76%. The lowest was -3.15%. And the median was 8.68%.
XMAD:AENA's Return-on-Tangible-Asset is ranked better than 95.85% of 1011
companies
in the Transportation industry
Industry Median: 3.76
vs XMAD:AENA: 17.76
Aena SME (XMAD:AENA) 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.
Aena SME Return-on-Tangible-Asset Related Terms
Aena SME Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Aena SME'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.
XMAD:AENA vs JOBY, CAAP: Return-on-Tangible-Asset Comparison
For the Airports & Air Services subindustry, Aena SME'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.
Aena SME Return-on-Tangible-Asset vs Transportation Industry
For the Transportation industry and Industrials sector, Aena SME's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Aena SME'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 7.80% mean?
Aena SME (XMAD:AENA) has a Return-on-Tangible-Asset of 7.80% 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 Aena SME and its competitors. This is 10% below median its historical median of 8.68. According to the industry distribution chart, Aena SME ranks #42 out of 1011 companies in the Transportation industry, placing it in the top 4.2%.
Is Aena SME's Return-on-Tangible-Asset too high?
Aena SME's current Return-on-Tangible-Asset of 7.80% is 10% below median its 10-year median of 8.68. The Transportation industry median Return-on-Tangible-Asset is 3.76. Aena SME's value of 7.80% is 107.4% above this industry median. Based on the distribution chart, Aena SME ranks #42 out of 1011 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Aena SME has a GF Score™ of 99/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aena SME's Return-on-Tangible-Asset compare to JOBY and CAAP?
According to the Transportation industry distribution chart, Aena SME ranks #42 out of 1011 companies for Return-on-Tangible-Asset. This places Aena SME in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.76. Aena SME's value of 7.80% is 107.4% above this benchmark. While the company's 10-year median is 8.68 vs. the industry median of 3.76, Aena SME 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 Transportation company?
The median Return-on-Tangible-Asset among Transportation companies is 3.76, based on 1,011 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. Aena SME's current Return-on-Tangible-Asset of 7.80% is 107.4% 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 Aena SME and its competitors. For the Transportation industry, the median Return-on-Tangible-Asset is 3.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aena SME's current Return-on-Tangible-Asset is 7.80%, which is 10% below median its own 10-year median of 8.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aena SME stock overvalued right now?
Based on GuruFocus' analysis, Aena SME (XMAD:AENA) is currently considered Modestly Overvalued. The stock's GF Value™ is €24.19, compared to a current price of €26.98 — trading 11.5% above its estimated fair value. The current Return-on-Tangible-Asset is 7.80%, which is 10% below median its 10-year median of 8.68 and 107.4% above the Transportation industry median of 3.76. Aena SME's overall GF Score™ is 99/100 with 5 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 Aena SME (XMAD:AENA), the current Return-on-Tangible-Asset is 7.80% 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 Aena SME (XMAD:AENA) Overvalued in 2026?
Based on GuruFocus' analysis, Aena SME stock appears to be overvalued.
The current stock price of €26.98 is trading 11.5% above its estimated GF Value™ of €24.19.
GuruFocus considers Aena SME to be Modestly Overvalued.
Key valuation signals for XMAD:AENA:
Return-on-Tangible-Asset: 7.80% (10% below median its 10-year median of 8.68)
GF Value™: €24.19 vs. price of €26.98 (11.5% above fair value)
Industry Position: 107.4% above the Transportation median (#42 of 1011)
No single metric tells the full story. See the XMAD:AENA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aena's 46 airports in Spain handle 99.9% of the country's air traffic. Its three busiest airports—Madrid-Barajas, Barcelona-El Prat, and Palma de Mallorca—account for roughly half of Spain's passengers. The dual-till framework in Spain leaves its commercial and real estate businesses completely unregulated, allowing the group to monetize its passenger flow and earn economic rents. It is launching a transformational EUR 13 billion DORA III investment cycle (2027-31) to expand capacity across its Spanish network. The group also controls three airports in the UK (Luton, Leeds Bradford, and Newcastle) and 18 airports in Brazil. It has minority holdings in 12 airports in Mexico and two in Jamaica through its 6.4% look-through stake in Grupo Aeroportuario del Pacifico.
99GF Score
Get the complete analysis for XMAD:AENA
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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