CEZ ASFRA:CEZ +0.10%94 Return-on-Tangible-Equity is 25.49% as of Mar. 2026, which is 238% above its 10-year median of 7.54. GuruFocus rates FRA:CEZ with a GF Score™ of 94/100 and a GF Value™ of €44.82 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 498 Utilities - Regulated companies, CEZ AS ranks better than 61.85% 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. CEZ AS's annualized net income for the quarter that ended in Mar. 2026 was €2,209 Mil. CEZ AS's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €8,667 Mil. Therefore, CEZ AS's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 25.49%.
The historical rank and industry rank for CEZ AS's Return-on-Tangible-Equity or its related term are showing as below:
FRA:CEZ'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.57 Med: 7.54 Max: 43.47
Current: 13.85
During the past 13 years, CEZ AS's highest Return-on-Tangible-Equity was 43.47%. The lowest was 2.57%. And the median was 7.54%.
FRA:CEZ's Return-on-Tangible-Equity is ranked better than 61.85% of 498
companies
in the Utilities - Regulated industry
Industry Median: 10.91
vs FRA:CEZ: 13.85
CEZ AS (FRA:CEZ) 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.
CEZ AS Return-on-Tangible-Equity Related Terms
CEZ AS Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for CEZ AS'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:CEZ vs NEE, SO, DUK: Return-on-Tangible-Equity Comparison
For the Utilities - Regulated Electric subindustry, CEZ AS'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.
CEZ AS Return-on-Tangible-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, CEZ AS's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where CEZ AS'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 25.49% mean?
CEZ AS (FRA:CEZ) has a Return-on-Tangible-Equity of 25.49% 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 CEZ AS and its competitors. This is 238% above median its historical median of 7.54. Over the past decade, CEZ AS's Return-on-Tangible-Equity has ranged from 2.57 to 43.47. According to the industry distribution chart, CEZ AS ranks #190 out of 498 companies in the Utilities - Regulated industry, placing it in the top 38.2%.
Is CEZ AS's Return-on-Tangible-Equity too high?
CEZ AS's current Return-on-Tangible-Equity of 25.49% is 238% above median its 10-year median of 7.54. Over the past 10 years, this metric has ranged from a low of 2.57 to a high of 43.47. The Utilities - Regulated industry median Return-on-Tangible-Equity is 10.91. CEZ AS's value of 25.49% is 133.6% above this industry median. Based on the distribution chart, CEZ AS ranks #190 out of 498 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, CEZ AS has a GF Score™ of 94/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CEZ AS's Return-on-Tangible-Equity compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, CEZ AS ranks #190 out of 498 companies for Return-on-Tangible-Equity. This puts CEZ AS in the upper half of its industry. The industry median Return-on-Tangible-Equity is 10.91. CEZ AS's value of 25.49% is 133.6% above this benchmark. Historically, CEZ AS's own Return-on-Tangible-Equity has ranged from 2.57 to 43.47 over the past decade. While the company's 10-year median is 7.54 vs. the industry median of 10.91, CEZ AS 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 Utilities - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.91, based on 498 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. CEZ AS's current Return-on-Tangible-Equity of 25.49% is 133.6% 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 CEZ AS and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CEZ AS's current Return-on-Tangible-Equity is 25.49%, which is 238% above median its own 10-year median of 7.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CEZ AS stock overvalued right now?
Based on GuruFocus' analysis, CEZ AS (FRA:CEZ) is currently considered Modestly Overvalued. The stock's GF Value™ is €44.82, compared to a current price of €51.05 — trading 13.9% above its estimated fair value. The current Return-on-Tangible-Equity is 25.49%, which is 238% above median its 10-year median of 7.54 and 133.6% above the Utilities - Regulated industry median of 10.91. CEZ AS's overall GF Score™ is 94/100 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 CEZ AS (FRA:CEZ), the current Return-on-Tangible-Equity is 25.49% 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 CEZ AS (FRA:CEZ) Overvalued in 2026?
Based on GuruFocus' analysis, CEZ AS stock appears to be overvalued.
The current stock price of €51.05 is trading 13.9% above its estimated GF Value™ of €44.82.
GuruFocus considers CEZ AS to be Modestly Overvalued.
Key valuation signals for FRA:CEZ:
Return-on-Tangible-Equity: 25.49% (238% above median its 10-year median of 7.54)
GF Value™: €44.82 vs. price of €51.05 (13.9% above fair value)
Industry Position: 133.6% above the Utilities - Regulated median (#190 of 498)
No single metric tells the full story. See the FRA:CEZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CEZ AS is a Czech energy company of which the government of the Czech Republic is the majority shareholder. The core business of the company is the generation, distribution, trade, and sale of electricity and heat, coal mining, trading in commodities and provision of complex energy services, distribution, trade, and sale of natural gas, and the provision of telecommunications services. Total energy production is mainly split between facilities utilizing thermal and nuclear inputs. CEZ segments comprise Generation; Distribution; Sales and Mining. The group operates mainly in Czechia and in Central and Western European markets.
94GF Score
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