Fidelity Emerging MarketsCHIX:FEMLL +0.20%35 Return-on-Tangible-Equity is 47.21% as of Dec. 2025, which is 702% above its 10-year median of 5.89. GuruFocus rates CHIX:FEMLL with a GF Score™ of 35/100 and a GF Value™ of £32.36 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,588 Asset Management companies, Fidelity Emerging Markets ranks better than 92.13% 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. Fidelity Emerging Markets's annualized net income for the quarter that ended in Dec. 2025 was £256.3 Mil. Fidelity Emerging Markets's average shareholder tangible equity for the quarter that ended in Dec. 2025 was £543.0 Mil. Therefore, Fidelity Emerging Markets's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 47.21%.
The historical rank and industry rank for Fidelity Emerging Markets's Return-on-Tangible-Equity or its related term are showing as below:
CHIX:FEMLl'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -43.47 Med: 5.89 Max: 42.94
Current: 42.94
During the past 13 years, Fidelity Emerging Markets's highest Return-on-Tangible-Equity was 42.94%. The lowest was -43.47%. And the median was 5.89%.
CHIX:FEMLl's Return-on-Tangible-Equity is ranked better than 92.13% of 1588
companies
in the Asset Management industry
Industry Median: 7.19
vs CHIX:FEMLl: 42.94
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.
Fidelity Emerging Markets Return-on-Tangible-Equity Related Terms
Fidelity Emerging Markets Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Fidelity Emerging Markets'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:FEMLL vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Fidelity Emerging Markets'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.
Fidelity Emerging Markets Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Fidelity Emerging Markets's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Fidelity Emerging Markets'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 47.21% mean?
Fidelity Emerging Markets (CHIX:FEMLL) has a Return-on-Tangible-Equity of 47.21% 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 Fidelity Emerging Markets and its competitors. This is 702% above median its historical median of 5.89. According to the industry distribution chart, Fidelity Emerging Markets ranks #125 out of 1588 companies in the Asset Management industry, placing it in the top 7.9%.
Is Fidelity Emerging Markets' Return-on-Tangible-Equity too high?
Fidelity Emerging Markets' current Return-on-Tangible-Equity of 47.21% is 702% above median its 10-year median of 5.89. The Asset Management industry median Return-on-Tangible-Equity is 7.19. Fidelity Emerging Markets' value of 47.21% is 556.6% above this industry median. Based on the distribution chart, Fidelity Emerging Markets ranks #125 out of 1588 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Fidelity Emerging Markets has a GF Score™ of 35/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fidelity Emerging Markets' Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, Fidelity Emerging Markets ranks #125 out of 1588 companies for Return-on-Tangible-Equity. This places Fidelity Emerging Markets in the top 8% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.19. Fidelity Emerging Markets' value of 47.21% is 556.6% above this benchmark. While the company's 10-year median is 5.89 vs. the industry median of 7.19, Fidelity Emerging Markets 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 7.19, 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. Fidelity Emerging Markets's current Return-on-Tangible-Equity of 47.21% is 556.6% 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 Fidelity Emerging Markets and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fidelity Emerging Markets's current Return-on-Tangible-Equity is 47.21%, which is 702% above median its own 10-year median of 5.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fidelity Emerging Markets stock overvalued right now?
Based on GuruFocus' analysis, Fidelity Emerging Markets (CHIX:FEMLL) is currently considered Significantly Undervalued. The stock's GF Value™ is £32.36, compared to a current price of £15.39 — trading 52.4% below its estimated fair value. The current Return-on-Tangible-Equity is 47.21%, which is 702% above median its 10-year median of 5.89 and 556.6% above the Asset Management industry median of 7.19. Fidelity Emerging Markets' overall GF Score™ is 35/100 with 4 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 Fidelity Emerging Markets (CHIX:FEMLL), the current Return-on-Tangible-Equity is 47.21% 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 Fidelity Emerging Markets (CHIX:FEMLL) Overvalued in 2026?
Based on GuruFocus' analysis, Fidelity Emerging Markets stock appears to be undervalued.
The current stock price of £15.39 is trading 52.4% below its estimated GF Value™ of £32.36.
GuruFocus considers Fidelity Emerging Markets to be Significantly Undervalued.
Key valuation signals for CHIX:FEMLL:
Return-on-Tangible-Equity: 47.21% (702% above median its 10-year median of 5.89)
GF Value™: £32.36 vs. price of £15.39 (52.4% below fair value)
Industry Position: 556.6% above the Asset Management median (#125 of 1588)
No single metric tells the full story. See the CHIX:FEMLL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fidelity Emerging Markets Ltd is a closed-ended investment fund. Its investment objective is to achieve long-term capital growth from an actively managed portfolio made up of securities and financial instruments providing exposure to Emerging Market companies, both listed and unlisted.
35GF Score
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