Focus MineralsASX:FML -6.10%60 Return-on-Tangible-Equity is 29.81% as of Dec. 2025. GuruFocus rates ASX:FML with a GF Score™ of 60/100 and a GF Value™ of A$1.80 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 2,377 Metals & Mining companies, Focus Minerals ranks better than 97.6% 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. Focus Minerals's annualized net income for the quarter that ended in Dec. 2025 was A$102.1 Mil. Focus Minerals's average shareholder tangible equity for the quarter that ended in Dec. 2025 was A$342.5 Mil. Therefore, Focus Minerals's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 29.81%.
The historical rank and industry rank for Focus Minerals's Return-on-Tangible-Equity or its related term are showing as below:
ASX:FML'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -9.33 Med: -3.68 Max: 117.51
Current: 104.69
During the past 13 years, Focus Minerals's highest Return-on-Tangible-Equity was 117.51%. The lowest was -9.33%. And the median was -3.68%.
ASX:FML's Return-on-Tangible-Equity is ranked better than 97.6% of 2377
companies
in the Metals & Mining industry
Industry Median: -16.19
vs ASX:FML: 104.69
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.
Focus Minerals Return-on-Tangible-Equity Related Terms
Focus Minerals Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Focus Minerals'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:FML vs NEM, AU: Return-on-Tangible-Equity Comparison
For the Gold subindustry, Focus Minerals'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.
Focus Minerals Return-on-Tangible-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Focus Minerals's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Focus Minerals'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 29.81% mean?
Focus Minerals (ASX:FML) has a Return-on-Tangible-Equity of 29.81% 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 Focus Minerals and its competitors. According to the industry distribution chart, Focus Minerals ranks #57 out of 2377 companies in the Metals & Mining industry, placing it in the top 2.4%.
Is Focus Minerals' Return-on-Tangible-Equity too high?
Focus Minerals' current Return-on-Tangible-Equity is 29.81%. Based on the distribution chart, Focus Minerals ranks #57 out of 2377 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Focus Minerals has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Focus Minerals' Return-on-Tangible-Equity compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Focus Minerals ranks #57 out of 2377 companies for Return-on-Tangible-Equity. This places Focus Minerals in the top 2% of its industry — outperforming the majority of peers. 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 Metals & Mining company?
A good Return-on-Tangible-Equity depends on the Metals & Mining industry context. However, Return-on-Tangible-Equity 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-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 Focus Minerals and its competitors. Focus Minerals's current Return-on-Tangible-Equity is 29.81%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Focus Minerals stock overvalued right now?
Based on GuruFocus' analysis, Focus Minerals (ASX:FML) is currently considered Modestly Undervalued. The stock's GF Value™ is A$1.80, compared to a current price of A$1.54 — trading 14.4% below its estimated fair value. The current Return-on-Tangible-Equity is 29.81%. Focus Minerals' overall GF Score™ is 60/100 with 1 warning sign 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 Focus Minerals (ASX:FML), the current Return-on-Tangible-Equity is 29.81% 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 Focus Minerals (ASX:FML) Overvalued in 2026?
Based on GuruFocus' analysis, Focus Minerals stock appears to be undervalued.
The current stock price of A$1.54 is trading 14.4% below its estimated GF Value™ of A$1.80.
GuruFocus considers Focus Minerals to be Modestly Undervalued.
Key valuation signals for ASX:FML:
Return-on-Tangible-Equity: 29.81%
GF Value™: A$1.80 vs. price of A$1.54 (14.4% below fair value)
No single metric tells the full story. See the ASX:FML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Focus Minerals Ltd is engaged in gold exploration and production in Western Australia. The company's projects include Three Mile Hill Processing plant, Varischetti Village, and Coolgardie Gold Project which generates key revenue.
60GF Score
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