Implenia AGXSWX:IMPN -2.03%58 Return-on-Tangible-Asset is 3.53% as of Dec. 2025, which is 51% above its 10-year median of 2.34. GuruFocus rates XSWX:IMPN with a GF Score™ of 58/100 and a GF Value™ of CHF35.34 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,780 Construction companies, Implenia AG ranks worse than 50.34% 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. Implenia AG's annualizedNet Income for the quarter that ended in Dec. 2025 was CHF101 Mil. Implenia AG's average total tangible assets for the quarter that ended in Dec. 2025 was CHF2,870 Mil. Therefore, Implenia AG's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 3.53%.
The historical rank and industry rank for Implenia AG's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:IMPN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.94 Med: 2.34 Max: 5.64
Current: 2.99
During the past 13 years, Implenia AG's highest Return-on-Tangible-Asset was 5.64%. The lowest was -4.94%. And the median was 2.34%.
XSWX:IMPN's Return-on-Tangible-Asset is ranked worse than 50.34% of 1780
companies
in the Construction industry
Industry Median: 3.025
vs XSWX:IMPN: 2.99
Implenia AG (XSWX:IMPN) 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.
Implenia AG Return-on-Tangible-Asset Related Terms
Implenia AG Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Implenia AG'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.
XSWX:IMPN vs PWR, FIX, EME: Return-on-Tangible-Asset Comparison
For the Engineering & Construction subindustry, Implenia AG'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.
Implenia AG Return-on-Tangible-Asset vs Construction Industry
For the Construction industry and Industrials sector, Implenia AG's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Implenia AG'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 3.53% mean?
Implenia AG (XSWX:IMPN) has a Return-on-Tangible-Asset of 3.53% 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 Implenia AG and its competitors. This is 51% above median its historical median of 2.34. According to the industry distribution chart, Implenia AG ranks #896 out of 1780 companies in the Construction industry, placing it in the top 50.3%.
Is Implenia AG's Return-on-Tangible-Asset too high?
Implenia AG's current Return-on-Tangible-Asset of 3.53% is 51% above median its 10-year median of 2.34. The Construction industry median Return-on-Tangible-Asset is 3.03. Implenia AG's value of 3.53% is 16.7% above this industry median. Based on the distribution chart, Implenia AG ranks #896 out of 1780 companies in the Construction industry, which is below the industry midpoint. Overall, Implenia AG has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Implenia AG's Return-on-Tangible-Asset compare to PWR and FIX?
According to the Construction industry distribution chart, Implenia AG ranks #896 out of 1780 companies for Return-on-Tangible-Asset. This places Implenia AG in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.03. Implenia AG's value of 3.53% is 16.7% above this benchmark. While the company's 10-year median is 2.34 vs. the industry median of 3.03, Implenia AG 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 Construction company?
The median Return-on-Tangible-Asset among Construction companies is 3.03, based on 1,780 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. Implenia AG's current Return-on-Tangible-Asset of 3.53% is 16.7% 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 Implenia AG and its competitors. For the Construction industry, the median Return-on-Tangible-Asset is 3.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Implenia AG's current Return-on-Tangible-Asset is 3.53%, which is 51% above median its own 10-year median of 2.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Implenia AG stock overvalued right now?
Based on GuruFocus' analysis, Implenia AG (XSWX:IMPN) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF35.34, compared to a current price of CHF67.50 — trading 91% above its estimated fair value. The current Return-on-Tangible-Asset is 3.53%, which is 51% above median its 10-year median of 2.34 and 16.7% above the Construction industry median of 3.03. Implenia AG's overall GF Score™ is 58/100 with 3 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 Implenia AG (XSWX:IMPN), the current Return-on-Tangible-Asset is 3.53% 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 Implenia AG (XSWX:IMPN) Overvalued in 2026?
Based on GuruFocus' analysis, Implenia AG stock appears to be overvalued.
The current stock price of CHF67.50 is trading 91% above its estimated GF Value™ of CHF35.34.
GuruFocus considers Implenia AG to be Significantly Overvalued.
Key valuation signals for XSWX:IMPN:
Return-on-Tangible-Asset: 3.53% (51% above median its 10-year median of 2.34)
GF Value™: CHF35.34 vs. price of CHF67.50 (91% above fair value)
Industry Position: 16.7% above the Construction median (#896 of 1780)
No single metric tells the full story. See the XSWX:IMPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Implenia AG is a construction service company. The company operates through four business segments: Buildings, Civil engineering, and Service Solutions. The company's projects include complex new construction, modernization work on existing properties, tunnel construction, civil engineering, and others. The company generates majority of its revenue from Civil engineering segments, and more than half of its revenue is earned in Switzerland.
58GF Score
Get the complete analysis for XSWX:IMPN
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
XSWX:IMPN has been successfully added to your 
