WAM LeadersASX:WLE +0.38%68 Return-on-Tangible-Equity is 11.15% as of Dec. 2025, which is 70% above its 10-year median of 6.54. GuruFocus rates ASX:WLE with a GF Score™ of 68/100 and a GF Value™ of A$2.32 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,588 Asset Management companies, WAM Leaders ranks worse than 50.63% 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. WAM Leaders's annualized net income for the quarter that ended in Dec. 2025 was A$199.9 Mil. WAM Leaders's average shareholder tangible equity for the quarter that ended in Dec. 2025 was A$1,793.4 Mil. Therefore, WAM Leaders's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 11.15%.
The historical rank and industry rank for WAM Leaders's Return-on-Tangible-Equity or its related term are showing as below:
ASX:WLE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 0.57 Med: 6.54 Max: 22.1
Current: 6.95
During the past 8 years, WAM Leaders's highest Return-on-Tangible-Equity was 22.10%. The lowest was 0.57%. And the median was 6.54%.
ASX:WLE's Return-on-Tangible-Equity is ranked worse than 50.63% of 1588
companies
in the Asset Management industry
Industry Median: 7.165
vs ASX:WLE: 6.95
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.
WAM Leaders Return-on-Tangible-Equity Related Terms
WAM Leaders Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for WAM Leaders'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:WLE vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, WAM Leaders'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.
WAM Leaders Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Leaders's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where WAM Leaders'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 11.15% mean?
WAM Leaders (ASX:WLE) has a Return-on-Tangible-Equity of 11.15% 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 WAM Leaders and its competitors. This is 70% above median its historical median of 6.54. Over the past decade, WAM Leaders' Return-on-Tangible-Equity has ranged from 0.57 to 22.10. According to the industry distribution chart, WAM Leaders ranks #804 out of 1588 companies in the Asset Management industry, placing it in the top 50.6%.
Is WAM Leaders' Return-on-Tangible-Equity too high?
WAM Leaders' current Return-on-Tangible-Equity of 11.15% is 70% above median its 10-year median of 6.54. Over the past 10 years, this metric has ranged from a low of 0.57 to a high of 22.10. The Asset Management industry median Return-on-Tangible-Equity is 7.17. WAM Leaders' value of 11.15% is 55.6% above this industry median. Based on the distribution chart, WAM Leaders ranks #804 out of 1588 companies in the Asset Management industry, which is below the industry midpoint. Overall, WAM Leaders has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WAM Leaders' Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Leaders ranks #804 out of 1588 companies for Return-on-Tangible-Equity. This places WAM Leaders in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.17. WAM Leaders' value of 11.15% is 55.6% above this benchmark. Historically, WAM Leaders' own Return-on-Tangible-Equity has ranged from 0.57 to 22.10 over the past decade. While the company's 10-year median is 6.54 vs. the industry median of 7.17, WAM Leaders 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 an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.17, based on 1,588 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. WAM Leaders's current Return-on-Tangible-Equity of 11.15% is 55.6% 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 WAM Leaders and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Leaders's current Return-on-Tangible-Equity is 11.15%, which is 70% above median its own 10-year median of 6.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Leaders stock overvalued right now?
Based on GuruFocus' analysis, WAM Leaders (ASX:WLE) is currently considered Significantly Undervalued. The stock's GF Value™ is A$2.32, compared to a current price of A$1.34 — trading 42.5% below its estimated fair value. The current Return-on-Tangible-Equity is 11.15%, which is 70% above median its 10-year median of 6.54 and 55.6% above the Asset Management industry median of 7.17. WAM Leaders' overall GF Score™ is 68/100 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 WAM Leaders (ASX:WLE), the current Return-on-Tangible-Equity is 11.15% 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 WAM Leaders (ASX:WLE) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Leaders stock appears to be undervalued.
The current stock price of A$1.34 is trading 42.5% below its estimated GF Value™ of A$2.32.
GuruFocus considers WAM Leaders to be Significantly Undervalued.
Key valuation signals for ASX:WLE:
Return-on-Tangible-Equity: 11.15% (70% above median its 10-year median of 6.54)
GF Value™: A$2.32 vs. price of A$1.34 (42.5% below fair value)
Industry Position: 55.6% above the Asset Management median (#804 of 1588)
No single metric tells the full story. See the ASX:WLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Leaders Ltd is an investment company. The company's investment objectives are to deliver a stream of fully franked dividends, provide capital growth over the medium-to-long term, and preserve capital. The company currently engages in investing activities, including cash, term deposits, and equity investments in listed companies. Its portfolio consists of securities of companies from various sectors such as Communication services, Financials, Consumer staples, Health care, and Information technology, among others.
68GF Score
Get the complete analysis for ASX:WLE
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