SALAFIN (Groupe BMCE)CAS:SLF +2.48%45 Return-on-Tangible-Equity is 16.45% as of Dec. 2025, which is 8% above its 10-year median of 15.28. GuruFocus rates CAS:SLF with a GF Score™ of 45/100 and a GF Value™ of MAD578.36 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 525 Credit Services companies, SALAFIN (Groupe BMCE) ranks better than 78.86% 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. SALAFIN (Groupe BMCE)'s annualized net income for the quarter that ended in Dec. 2025 was MAD98.8 Mil. SALAFIN (Groupe BMCE)'s average shareholder tangible equity for the quarter that ended in Dec. 2025 was MAD600.6 Mil. Therefore, SALAFIN (Groupe BMCE)'s annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 16.45%.
The historical rank and industry rank for SALAFIN (Groupe BMCE)'s Return-on-Tangible-Equity or its related term are showing as below:
CAS:SLF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -2.1 Med: 15.28 Max: 22.13
Current: 15.83
During the past 13 years, SALAFIN (Groupe BMCE)'s highest Return-on-Tangible-Equity was 22.13%. The lowest was -2.10%. And the median was 15.28%.
CAS:SLF's Return-on-Tangible-Equity is ranked better than 78.86% of 525
companies
in the Credit Services industry
Industry Median: 7.01
vs CAS:SLF: 15.83
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.
SALAFIN (Groupe BMCE) Return-on-Tangible-Equity Related Terms
SALAFIN (Groupe BMCE) Return-on-Tangible-Equity Historical Data
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The historical data trend for SALAFIN (Groupe BMCE)'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.
CAS:SLF vs V, MA, AXP: Return-on-Tangible-Equity Comparison
For the Credit Services subindustry, SALAFIN (Groupe BMCE)'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.
SALAFIN (Groupe BMCE) Return-on-Tangible-Equity vs Credit Services Industry
For the Credit Services industry and Financial Services sector, SALAFIN (Groupe BMCE)'s Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where SALAFIN (Groupe BMCE)'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 16.45% mean?
SALAFIN (Groupe BMCE) (CAS:SLF) has a Return-on-Tangible-Equity of 16.45% 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 SALAFIN (Groupe BMCE) and its competitors. This is near median its historical median of 15.28. According to the industry distribution chart, SALAFIN (Groupe BMCE) ranks #111 out of 525 companies in the Credit Services industry, placing it in the top 21.1%.
Is SALAFIN (Groupe BMCE)'s Return-on-Tangible-Equity too high?
SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Equity of 16.45% is near median its 10-year median of 15.28. The Credit Services industry median Return-on-Tangible-Equity is 7.01. SALAFIN (Groupe BMCE)'s value of 16.45% is 134.7% above this industry median. Based on the distribution chart, SALAFIN (Groupe BMCE) ranks #111 out of 525 companies in the Credit Services industry, which is in the top quartile — a strong position relative to peers. Overall, SALAFIN (Groupe BMCE) has a GF Score™ of 45/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SALAFIN (Groupe BMCE)'s Return-on-Tangible-Equity compare to V and MA?
According to the Credit Services industry distribution chart, SALAFIN (Groupe BMCE) ranks #111 out of 525 companies for Return-on-Tangible-Equity. This places SALAFIN (Groupe BMCE) in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.01. SALAFIN (Groupe BMCE)'s value of 16.45% is 134.7% above this benchmark. While the company's 10-year median is 15.28 vs. the industry median of 7.01, SALAFIN (Groupe BMCE) 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 Credit Services company?
The median Return-on-Tangible-Equity among Credit Services companies is 7.01, based on 525 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. SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Equity of 16.45% is 134.7% 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 SALAFIN (Groupe BMCE) and its competitors. For the Credit Services industry, the median Return-on-Tangible-Equity is 7.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SALAFIN (Groupe BMCE)'s current Return-on-Tangible-Equity is 16.45%, which is near median its own 10-year median of 15.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SALAFIN (Groupe BMCE) stock overvalued right now?
Based on GuruFocus' analysis, SALAFIN (Groupe BMCE) (CAS:SLF) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD578.36, compared to a current price of MAD449.90 — trading 22.2% below its estimated fair value. The current Return-on-Tangible-Equity is 16.45%, which is near median its 10-year median of 15.28 and 134.7% above the Credit Services industry median of 7.01. SALAFIN (Groupe BMCE)'s overall GF Score™ is 45/100 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 SALAFIN (Groupe BMCE) (CAS:SLF), the current Return-on-Tangible-Equity is 16.45% 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 SALAFIN (Groupe BMCE) (CAS:SLF) Overvalued in 2026?
Based on GuruFocus' analysis, SALAFIN (Groupe BMCE) stock appears to be undervalued.
The current stock price of MAD449.90 is trading 22.2% below its estimated GF Value™ of MAD578.36.
GuruFocus considers SALAFIN (Groupe BMCE) to be Modestly Undervalued.
Key valuation signals for CAS:SLF:
Return-on-Tangible-Equity: 16.45% (near median its 10-year median of 15.28)
GF Value™: MAD578.36 vs. price of MAD449.90 (22.2% below fair value)
Industry Position: 134.7% above the Credit Services median (#111 of 525)
No single metric tells the full story. See the CAS:SLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SALAFIN (Groupe BMCE) is a Morocco-based company. It is a finance company. It offers consumer credit services. The company operates through various business segments that are Personal Credit, which include personal loan, and mortgage credit; Auto Financing, which provides car loans; and Revolving Credit.
45GF Score
Get the complete analysis for CAS:SLF
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