Pan African ResourcesASX:PAF 76 Return-on-Tangible-Equity is 48.80% as of Dec. 2025, which is 86% above its 10-year median of 26.25. GuruFocus rates ASX:PAF with a GF Score™ of 76/100 and a GF Value™ of A$1.64. The stock has 3 warning signs investors should review. Among 2,378 Metals & Mining companies, Pan African Resources ranks better than 94.83% 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. Pan African Resources's annualized net income for the quarter that ended in Dec. 2025 was A$445 Mil. Pan African Resources's average shareholder tangible equity for the quarter that ended in Dec. 2025 was A$913 Mil. Therefore, Pan African Resources's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 48.80%.
The historical rank and industry rank for Pan African Resources's Return-on-Tangible-Equity or its related term are showing as below:
ASX:PAF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -63.19 Med: 26.25 Max: 44.37
Current: 44.37
During the past 13 years, Pan African Resources's highest Return-on-Tangible-Equity was 44.37%. The lowest was -63.19%. And the median was 26.25%.
ASX:PAF's Return-on-Tangible-Equity is ranked better than 94.83% of 2378
companies
in the Metals & Mining industry
Industry Median: -16.21
vs ASX:PAF: 44.37
Pan African Resources (ASX:PAF) Return-on-Tangible-Equity Explanation
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.
Pan African Resources Return-on-Tangible-Equity Related Terms
Pan African Resources Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Pan African Resources'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.
Pan African Resources Return-on-Tangible-Equity Chart
For the Gold subindustry, Pan African Resources'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.
Pan African Resources Return-on-Tangible-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Pan African Resources's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Pan African Resources'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 48.80% mean?
Pan African Resources (ASX:PAF) has a Return-on-Tangible-Equity of 48.80% 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 Pan African Resources and its competitors. This is 86% above median its historical median of 26.25. According to the industry distribution chart, Pan African Resources ranks #123 out of 2378 companies in the Metals & Mining industry, placing it in the top 5.2%.
Is Pan African Resources' Return-on-Tangible-Equity too high?
Pan African Resources' current Return-on-Tangible-Equity of 48.80% is 86% above median its 10-year median of 26.25. Based on the distribution chart, Pan African Resources ranks #123 out of 2378 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Pan African Resources has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Pan African Resources' Return-on-Tangible-Equity compare to ?
According to the Metals & Mining industry distribution chart, Pan African Resources ranks #123 out of 2378 companies for Return-on-Tangible-Equity. This places Pan African Resources in the top 5% 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 Pan African Resources and its competitors. Pan African Resources's current Return-on-Tangible-Equity is 48.80%, which is 86% above median its own 10-year median of 26.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan African Resources stock overvalued right now?
Pan African Resources (ASX:PAF) has a current Return-on-Tangible-Equity of 48.80%. The stock's GF Value™ is A$1.64, compared to a current price of A$1.96 — trading 19.5% above its estimated fair value. The current Return-on-Tangible-Equity is 48.80%, which is 86% above median its 10-year median of 26.25. Pan African Resources' overall GF Score™ is 76/100 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Pan African Resources (ASX:PAF), the current Return-on-Tangible-Equity is 48.80% 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 Pan African Resources (ASX:PAF) Overvalued in 2026?
Based on GuruFocus' analysis, Pan African Resources stock appears to be overvalued.
The current stock price of A$1.96 is trading 19.5% above its estimated GF Value™ of A$1.64.
Key valuation signals for ASX:PAF:
Return-on-Tangible-Equity: 48.80% (86% above median its 10-year median of 26.25)
GF Value™: A$1.64 vs. price of A$1.96 (19.5% above fair value)
No single metric tells the full story. See the ASX:PAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pan African Resources PLC is engaged in gold mining and exploration activities. The group owns and operates a portfolio of projects located in South Africa, Australia, and an exploration project in Sudan. Its project portfolio comprises Fairview Mine, Sheba and Consort Mines, BTRP, Elikhulu, MTR, Evander Mines, and Tennant Mines. The group's reporting segments are: Mining operations and Other operations. Maximum revenue is generated from the Mining operations segment, which generates revenue from mining, extraction, production, and the sale of gold. The Other operations segment represents its exploration assets in Sudan, Agricultural ESG projects, and other activities. Geographically, the group generates maximum revenue from South Africa, followed by Australia, and UK and Europe.
76GF Score
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