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CogstateASX:CGS +0.73%75 Return-on-Tangible-Equity is 23.50% as of Dec. 2025, which is 38% above its 10-year median of 17.08. GuruFocus rates ASX:CGS with a GF Score™ of 75/100 and a GF Value™ of A$2.11 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 577 Healthcare Providers & Services companies, Cogstate ranks better than 75.91% 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. Cogstate's annualized net income for the quarter that ended in Dec. 2025 was A$13.65 Mil. Cogstate's average shareholder tangible equity for the quarter that ended in Dec. 2025 was A$58.09 Mil. Therefore, Cogstate's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 23.50%.
The historical rank and industry rank for Cogstate's Return-on-Tangible-Equity or its related term are showing as below:
ASX:CGS'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -36.97 Med: 17.08 Max: 45.51
Current: 28.89
During the past 13 years, Cogstate's highest Return-on-Tangible-Equity was 45.51%. The lowest was -36.97%. And the median was 17.08%.
ASX:CGS's Return-on-Tangible-Equity is ranked better than 75.91% of 577
companies
in the Healthcare Providers & Services industry
Industry Median: 10.13
vs ASX:CGS: 28.89
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.
Cogstate Return-on-Tangible-Equity Related Terms
Cogstate Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Cogstate'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:CGS vs VEEV, BTSG, TEM: Return-on-Tangible-Equity Comparison
For the Health Information Services subindustry, Cogstate'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.
Cogstate Return-on-Tangible-Equity vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Cogstate's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Cogstate'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 23.50% mean?
Cogstate (ASX:CGS) has a Return-on-Tangible-Equity of 23.50% 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 Cogstate and its competitors. This is 38% above median its historical median of 17.08. According to the industry distribution chart, Cogstate ranks #139 out of 577 companies in the Healthcare Providers & Services industry, placing it in the top 24.1%.
Is Cogstate's Return-on-Tangible-Equity too high?
Cogstate's current Return-on-Tangible-Equity of 23.50% is 38% above median its 10-year median of 17.08. The Healthcare Providers & Services industry median Return-on-Tangible-Equity is 10.13. Cogstate's value of 23.50% is 132% above this industry median. Based on the distribution chart, Cogstate ranks #139 out of 577 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Cogstate has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cogstate's Return-on-Tangible-Equity compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Cogstate ranks #139 out of 577 companies for Return-on-Tangible-Equity. This places Cogstate in the top 24% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 10.13. Cogstate's value of 23.50% is 132% above this benchmark. While the company's 10-year median is 17.08 vs. the industry median of 10.13, Cogstate 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 Healthcare Providers & Services company?
The median Return-on-Tangible-Equity among Healthcare Providers & Services companies is 10.13, based on 577 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. Cogstate's current Return-on-Tangible-Equity of 23.50% is 132% 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 Cogstate and its competitors. For the Healthcare Providers & Services industry, the median Return-on-Tangible-Equity is 10.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cogstate's current Return-on-Tangible-Equity is 23.50%, which is 38% above median its own 10-year median of 17.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cogstate stock overvalued right now?
Based on GuruFocus' analysis, Cogstate (ASX:CGS) is currently considered Modestly Overvalued. The stock's GF Value™ is A$2.11, compared to a current price of A$2.75 — trading 30.3% above its estimated fair value. The current Return-on-Tangible-Equity is 23.50%, which is 38% above median its 10-year median of 17.08 and 132% above the Healthcare Providers & Services industry median of 10.13. Cogstate's overall GF Score™ is 75/100 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 Cogstate (ASX:CGS), the current Return-on-Tangible-Equity is 23.50% 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 Cogstate (ASX:CGS) Overvalued in 2026?
Based on GuruFocus' analysis, Cogstate stock appears to be overvalued.
The current stock price of A$2.75 is trading 30.3% above its estimated GF Value™ of A$2.11.
GuruFocus considers Cogstate to be Modestly Overvalued.
Key valuation signals for ASX:CGS:
Return-on-Tangible-Equity: 23.50% (38% above median its 10-year median of 17.08)
GF Value™: A$2.11 vs. price of A$2.75 (30.3% above fair value)
Industry Position: 132% above the Healthcare Providers & Services median (#139 of 577)
No single metric tells the full story. See the ASX:CGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cogstate Ltd is a cognitive science company. The principal activity of the group is the Creation, validation, and commercialisation of digital brain health assessments; and the Design and provision of quality assurance services in clinical trials, focused on the administration, scoring, and recording of conventional brain health assessments and reporting. Its operating segment includes Clinical Trials, Healthcare, and Administration. The company generates maximum revenue from the Clinical Trials segment. In the clinical trials segment, technology and services are sold to pharmaceutical and biotechnology companies. The company derives revenue from the sale of licensed software and cognitive testing services.
75GF Score
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