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AGF ManagementFRA:A3J -1.44%68 Return-on-Tangible-Equity is 106.71% as of May. 2026, which is 34% above its 10-year median of 79.74. GuruFocus rates FRA:A3J with a GF Score™ of 68/100 and a GF Value™ of €7.97 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,587 Asset Management companies, AGF Management ranks better than 96.53% 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. AGF Management's annualized net income for the quarter that ended in May. 2026 was €115.6 Mil. AGF Management's average shareholder tangible equity for the quarter that ended in May. 2026 was €108.3 Mil. Therefore, AGF Management's annualized Return-on-Tangible-Equity for the quarter that ended in May. 2026 was 106.71%.
The historical rank and industry rank for AGF Management's Return-on-Tangible-Equity or its related term are showing as below:
FRA:A3J'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 47.66 Med: 79.74 Max: 598.15
Current: 90.24
During the past 13 years, AGF Management's highest Return-on-Tangible-Equity was 598.15%. The lowest was 47.66%. And the median was 79.74%.
FRA:A3J's Return-on-Tangible-Equity is ranked better than 96.53% of 1587
companies
in the Asset Management industry
Industry Median: 7.4
vs FRA:A3J: 90.24
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.
AGF Management Return-on-Tangible-Equity Related Terms
AGF Management Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for AGF Management'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.
FRA:A3J vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, AGF Management'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.
AGF Management Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, AGF Management's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where AGF Management'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 (May. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 106.71% mean?
AGF Management (FRA:A3J) has a Return-on-Tangible-Equity of 106.71% as of May. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on AGF Management and its competitors. This is 34% above median its historical median of 79.74. Over the past decade, AGF Management's Return-on-Tangible-Equity has ranged from 47.66 to 598.15. According to the industry distribution chart, AGF Management ranks #55 out of 1587 companies in the Asset Management industry, placing it in the top 3.5%.
Is AGF Management's Return-on-Tangible-Equity too high?
AGF Management's current Return-on-Tangible-Equity of 106.71% is 34% above median its 10-year median of 79.74. Over the past 10 years, this metric has ranged from a low of 47.66 to a high of 598.15. The Asset Management industry median Return-on-Tangible-Equity is 7.40. AGF Management's value of 106.71% is 1342% above this industry median. Based on the distribution chart, AGF Management ranks #55 out of 1587 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, AGF Management has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does AGF Management's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, AGF Management ranks #55 out of 1587 companies for Return-on-Tangible-Equity. This places AGF Management in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.40. AGF Management's value of 106.71% is 1342% above this benchmark. Historically, AGF Management's own Return-on-Tangible-Equity has ranged from 47.66 to 598.15 over the past decade. While the company's 10-year median is 79.74 vs. the industry median of 7.40, AGF Management 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 7.40, based on 1,587 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. AGF Management's current Return-on-Tangible-Equity of 106.71% is 1342% 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 AGF Management and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AGF Management's current Return-on-Tangible-Equity is 106.71%, which is 34% above median its own 10-year median of 79.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AGF Management stock overvalued right now?
Based on GuruFocus' analysis, AGF Management (FRA:A3J) is currently considered Significantly Overvalued. The stock's GF Value™ is €7.97, compared to a current price of €13.70 — trading 71.9% above its estimated fair value. The current Return-on-Tangible-Equity is 106.71%, which is 34% above median its 10-year median of 79.74 and 1342% above the Asset Management industry median of 7.40. AGF Management's overall GF Score™ is 68/100 with 8 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 AGF Management (FRA:A3J), the current Return-on-Tangible-Equity is 106.71% as of May. 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 AGF Management (FRA:A3J) Overvalued in 2026?
Based on GuruFocus' analysis, AGF Management stock appears to be overvalued.
The current stock price of €13.70 is trading 71.9% above its estimated GF Value™ of €7.97.
GuruFocus considers AGF Management to be Significantly Overvalued.
Key valuation signals for FRA:A3J:
Return-on-Tangible-Equity: 106.71% (34% above median its 10-year median of 79.74)
GF Value™: €7.97 vs. price of €13.70 (71.9% above fair value)
Industry Position: 1342% above the Asset Management median (#55 of 1587)
No single metric tells the full story. See the FRA:A3J stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AGF Management is a Canadian-based independent asset manager. As of November 2025, the firm had CAD 60.4 billion in total assets under management with CAD 35.0 billion in retail mutual funds, CAD 9.5 billion in high net-worth private wealth, and the remaining in institutional, ETF, and private assets. AGF Management's funds are weighted toward equities with roughly three-quarters of the firm's retail AUM tied to equities.
68GF Score
Get the complete analysis for FRA:A3J
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