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ManagemCAS:MNG -3.12%68 Return-on-Tangible-Equity is 96.17% as of Dec. 2025, which is 478% above its 10-year median of 16.63. GuruFocus rates CAS:MNG with a GF Score™ of 68/100 and a GF Value™ of MAD5,286.63 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,381 Metals & Mining companies, Managem ranks better than 95.88% 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. Managem's annualized net income for the quarter that ended in Dec. 2025 was MAD5,243 Mil. Managem's average shareholder tangible equity for the quarter that ended in Dec. 2025 was MAD5,452 Mil. Therefore, Managem's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 96.17%.
The historical rank and industry rank for Managem's Return-on-Tangible-Equity or its related term are showing as below:
CAS:MNG'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -17.73 Med: 16.63 Max: 53.75
Current: 53.75
During the past 13 years, Managem's highest Return-on-Tangible-Equity was 53.75%. The lowest was -17.73%. And the median was 16.63%.
CAS:MNG's Return-on-Tangible-Equity is ranked better than 95.88% of 2381
companies
in the Metals & Mining industry
Industry Median: -16.33
vs CAS:MNG: 53.75
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.
Managem Return-on-Tangible-Equity Related Terms
Managem Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Managem'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.
For the Other Industrial Metals & Mining subindustry, Managem'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.
Managem Return-on-Tangible-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Managem's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Managem'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 96.17% mean?
Managem (CAS:MNG) has a Return-on-Tangible-Equity of 96.17% 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 Managem and its competitors. This is 478% above median its historical median of 16.63. According to the industry distribution chart, Managem ranks #98 out of 2381 companies in the Metals & Mining industry, placing it in the top 4.1%.
Is Managem's Return-on-Tangible-Equity too high?
Managem's current Return-on-Tangible-Equity of 96.17% is 478% above median its 10-year median of 16.63. Based on the distribution chart, Managem ranks #98 out of 2381 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Managem has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Managem's Return-on-Tangible-Equity compare to competitors?
According to the Metals & Mining industry distribution chart, Managem ranks #98 out of 2381 companies for Return-on-Tangible-Equity. This places Managem in the top 4% 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 Managem and its competitors. Managem's current Return-on-Tangible-Equity is 96.17%, which is 478% above median its own 10-year median of 16.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Managem stock overvalued right now?
Based on GuruFocus' analysis, Managem (CAS:MNG) is currently considered Significantly Overvalued. The stock's GF Value™ is MAD5,286.63, compared to a current price of MAD12,500.00 — trading 136.4% above its estimated fair value. The current Return-on-Tangible-Equity is 96.17%, which is 478% above median its 10-year median of 16.63. Managem's overall GF Score™ is 68/100 with 2 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 Managem (CAS:MNG), the current Return-on-Tangible-Equity is 96.17% 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 Managem (CAS:MNG) Overvalued in 2026?
Based on GuruFocus' analysis, Managem stock appears to be overvalued.
The current stock price of MAD12,500.00 is trading 136.4% above its estimated GF Value™ of MAD5,286.63.
GuruFocus considers Managem to be Significantly Overvalued.
Key valuation signals for CAS:MNG:
Return-on-Tangible-Equity: 96.17% (478% above median its 10-year median of 16.63)
GF Value™: MAD5,286.63 vs. price of MAD12,500.00 (136.4% above fair value)
No single metric tells the full story. See the CAS:MNG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Managem SA operates as an integrated mining group. The business operations include managing a portfolio of properties targeting precious metals such as gold and silver, and base metals which include copper, zinc, lead, cobalt and fluorite.
68GF Score
Get the complete analysis for CAS:MNG
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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