Bega CheeseASX:BGA +1.54%71 Return-on-Tangible-Equity is 17.87% as of Dec. 2025, which is 177% above its 10-year median of 6.44. GuruFocus rates ASX:BGA with a GF Score™ of 71/100 and a GF Value™ of A$4.83 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,872 Consumer Packaged Goods companies, Bega Cheese ranks worse than 72.33% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Bega Cheese's annualized net income for the quarter that ended in Dec. 2025 was A$94 Mil. Bega Cheese's average shareholder tangible equity for the quarter that ended in Dec. 2025 was A$525 Mil. Therefore, Bega Cheese's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 17.87%.
The historical rank and industry rank for Bega Cheese's Return-on-Tangible-Equity or its related term are showing as below:
ASX:BGA'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -37.89 Med: 6.44 Max: 31.9
Current: 1.53
During the past 13 years, Bega Cheese's highest Return-on-Tangible-Equity was 31.90%. The lowest was -37.89%. And the median was 6.44%.
ASX:BGA's Return-on-Tangible-Equity is ranked worse than 72.33% of 1872
companies
in the Consumer Packaged Goods industry
Industry Median: 7.715
vs ASX:BGA: 1.53
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Bega Cheese Return-on-Tangible-Equity Related Terms
Bega Cheese Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Bega Cheese's Return-on-Tangible-Equity 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.
ASX:BGA vs KHC, GIS: Return-on-Tangible-Equity Comparison
For the Packaged Foods subindustry, Bega Cheese's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Bega Cheese Return-on-Tangible-Equity vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Bega Cheese's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Bega Cheese's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 17.87% mean?
Bega Cheese (ASX:BGA) has a Return-on-Tangible-Equity of 17.87% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Bega Cheese and its competitors. This is 177% above median its historical median of 6.44. According to the industry distribution chart, Bega Cheese ranks #1354 out of 1872 companies in the Consumer Packaged Goods industry, placing it in the top 72.3%.
Is Bega Cheese's Return-on-Tangible-Equity too high?
Bega Cheese's current Return-on-Tangible-Equity of 17.87% is 177% above median its 10-year median of 6.44. The Consumer Packaged Goods industry median Return-on-Tangible-Equity is 7.72. Bega Cheese's value of 17.87% is 131.6% above this industry median. Based on the distribution chart, Bega Cheese ranks #1354 out of 1872 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Bega Cheese has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bega Cheese's Return-on-Tangible-Equity compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Bega Cheese ranks #1354 out of 1872 companies for Return-on-Tangible-Equity. This places Bega Cheese in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.72. Bega Cheese's value of 17.87% is 131.6% above this benchmark. While the company's 10-year median is 6.44 vs. the industry median of 7.72, Bega Cheese 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-Equity for a Consumer Packaged Goods company?
The median Return-on-Tangible-Equity among Consumer Packaged Goods companies is 7.72, based on 1,872 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bega Cheese's current Return-on-Tangible-Equity of 17.87% is 131.6% 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Bega Cheese and its competitors. For the Consumer Packaged Goods industry, the median Return-on-Tangible-Equity is 7.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bega Cheese's current Return-on-Tangible-Equity is 17.87%, which is 177% above median its own 10-year median of 6.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bega Cheese stock overvalued right now?
Based on GuruFocus' analysis, Bega Cheese (ASX:BGA) is currently considered Modestly Overvalued. The stock's GF Value™ is A$4.83, compared to a current price of A$5.94 — trading 23% above its estimated fair value. The current Return-on-Tangible-Equity is 17.87%, which is 177% above median its 10-year median of 6.44 and 131.6% above the Consumer Packaged Goods industry median of 7.72. Bega Cheese's overall GF Score™ is 71/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Bega Cheese (ASX:BGA), the current Return-on-Tangible-Equity is 17.87% 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 Bega Cheese (ASX:BGA) Overvalued in 2026?
Based on GuruFocus' analysis, Bega Cheese stock appears to be overvalued.
The current stock price of A$5.94 is trading 23% above its estimated GF Value™ of A$4.83.
GuruFocus considers Bega Cheese to be Modestly Overvalued.
Key valuation signals for ASX:BGA:
Return-on-Tangible-Equity: 17.87% (177% above median its 10-year median of 6.44)
GF Value™: A$4.83 vs. price of A$5.94 (23% above fair value)
Industry Position: 131.6% above the Consumer Packaged Goods median (#1354 of 1872)
No single metric tells the full story. See the ASX:BGA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bega Group is an Australia-based dairy processor and food manufacturer of well-known brands including Bega Cheese and Vegemite. Bega operates two segments: The branded segment produces consumer packaged goods primarily sold through the supermarket and foodservice channels, while the bulk segment produces commodity dairy ingredients primarily sold through the business-to-business channel.
71GF Score
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