AppleCHIX:APCD 92 Return-on-Tangible-Equity is 137.39% as of Mar. 2026, which is 24% above its 10-year median of 110.57. GuruFocus rates CHIX:APCD with a GF Score™ of 92/100 and a GF Value™ of €244.91 (Fairly Valued). The stock has 3 warning signs investors should review. Among 2,381 Hardware companies, Apple ranks better than 97.52% 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. Apple's annualized net income for the quarter that ended in Mar. 2026 was €102,340 Mil. Apple's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €74,488 Mil. Therefore, Apple's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 137.39%.
The historical rank and industry rank for Apple's Return-on-Tangible-Equity or its related term are showing as below:
CHIX:APCd'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 38.12 Med: 110.57 Max: 175.46
Current: 161.41
During the past 13 years, Apple's highest Return-on-Tangible-Equity was 175.46%. The lowest was 38.12%. And the median was 110.57%.
CHIX:APCd's Return-on-Tangible-Equity is ranked better than 97.52% of 2381
companies
in the Hardware industry
Industry Median: 5.23
vs CHIX:APCd: 161.41
Apple (CHIX:APCd) 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.
Apple Return-on-Tangible-Equity Related Terms
Apple Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Apple'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.
CHIX:APCD vs SONO, TBCH, VUZI: Return-on-Tangible-Equity Comparison
For the Consumer Electronics subindustry, Apple'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.
Apple Return-on-Tangible-Equity vs Hardware Industry
For the Hardware industry and Technology sector, Apple's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Apple'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 four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 137.39% mean?
Apple (CHIX:APCD) has a Return-on-Tangible-Equity of 137.39% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Apple and its competitors. This is 24% above median its historical median of 110.57. Over the past decade, Apple's Return-on-Tangible-Equity has ranged from 38.12 to 175.46. According to the industry distribution chart, Apple ranks #59 out of 2381 companies in the Hardware industry, placing it in the top 2.5%.
Is Apple's Return-on-Tangible-Equity too high?
Apple's current Return-on-Tangible-Equity of 137.39% is 24% above median its 10-year median of 110.57. Over the past 10 years, this metric has ranged from a low of 38.12 to a high of 175.46. The Hardware industry median Return-on-Tangible-Equity is 5.23. Apple's value of 137.39% is 2527% above this industry median. Based on the distribution chart, Apple ranks #59 out of 2381 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Apple has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Apple's Return-on-Tangible-Equity compare to SONO and TBCH?
According to the Hardware industry distribution chart, Apple ranks #59 out of 2381 companies for Return-on-Tangible-Equity. This places Apple in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 5.23. Apple's value of 137.39% is 2527% above this benchmark. Historically, Apple's own Return-on-Tangible-Equity has ranged from 38.12 to 175.46 over the past decade. While the company's 10-year median is 110.57 vs. the industry median of 5.23, Apple 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 Hardware company?
The median Return-on-Tangible-Equity among Hardware companies is 5.23, based on 2,381 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. Apple's current Return-on-Tangible-Equity of 137.39% is 2527% 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 Apple and its competitors. For the Hardware industry, the median Return-on-Tangible-Equity is 5.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apple's current Return-on-Tangible-Equity is 137.39%, which is 24% above median its own 10-year median of 110.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apple stock overvalued right now?
Based on GuruFocus' analysis, Apple (CHIX:APCD) is currently considered Fairly Valued. The stock's GF Value™ is €244.91, compared to a current price of €259.15 — trading 5.8% above its estimated fair value. The current Return-on-Tangible-Equity is 137.39%, which is 24% above median its 10-year median of 110.57 and 2527% above the Hardware industry median of 5.23. Apple's overall GF Score™ is 92/100 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 Apple (CHIX:APCD), the current Return-on-Tangible-Equity is 137.39% as of Mar. 2026. 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 Apple (CHIX:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Apple stock appears to be overvalued.
The current stock price of €259.15 is trading 5.8% above its estimated GF Value™ of €244.91.
GuruFocus considers Apple to be Fairly Valued.
Key valuation signals for CHIX:APCD:
Return-on-Tangible-Equity: 137.39% (24% above median its 10-year median of 110.57)
GF Value™: €244.91 vs. price of €259.15 (5.8% above fair value)
Industry Position: 2527% above the Hardware median (#59 of 2381)
No single metric tells the full story. See the CHIX:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone accounts for the majority of the firm's sales, and Apple's other products, such as the Mac, iPad, and Watch, are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, such as streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors and works with subcontractors such as Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with the majority coming indirectly through partnerships and distribution.
92GF Score
Get the complete analysis for CHIX:APCD
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CHIX:APCD has been successfully added to your 
