Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Shelly Group SEFRA:SLYG +1.07%96 Return-on-Tangible-Equity is 30.22% as of Mar. 2026, which is 19% below its 10-year median of 37.26. GuruFocus rates FRA:SLYG with a GF Score™ of 96/100 and a GF Value™ of €67.25 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 552 Conglomerates companies, Shelly Group SE ranks better than 88.04% 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. Shelly Group SE's annualized net income for the quarter that ended in Mar. 2026 was €29.8 Mil. Shelly Group SE's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €98.7 Mil. Therefore, Shelly Group SE's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 30.22%.
The historical rank and industry rank for Shelly Group SE's Return-on-Tangible-Equity or its related term are showing as below:
FRA:SLYG'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 25.4 Med: 37.26 Max: 42.93
Current: 31.44
During the past 9 years, Shelly Group SE's highest Return-on-Tangible-Equity was 42.93%. The lowest was 25.40%. And the median was 37.26%.
FRA:SLYG's Return-on-Tangible-Equity is ranked better than 88.04% of 552
companies
in the Conglomerates industry
Industry Median: 7.465
vs FRA:SLYG: 31.44
Shelly Group SE (FRA:SLYG) 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.
Shelly Group SE Return-on-Tangible-Equity Related Terms
Shelly Group SE Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Shelly Group SE'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:SLYG vs HON, MMM: Return-on-Tangible-Equity Comparison
For the Conglomerates subindustry, Shelly Group SE'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.
Shelly Group SE Return-on-Tangible-Equity vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Shelly Group SE's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Shelly Group SE'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 30.22% mean?
Shelly Group SE (FRA:SLYG) has a Return-on-Tangible-Equity of 30.22% 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 Shelly Group SE and its competitors. This is 19% below median its historical median of 37.26. Over the past decade, Shelly Group SE's Return-on-Tangible-Equity has ranged from 25.40 to 42.93. According to the industry distribution chart, Shelly Group SE ranks #66 out of 552 companies in the Conglomerates industry, placing it in the top 12%.
Is Shelly Group SE's Return-on-Tangible-Equity too high?
Shelly Group SE's current Return-on-Tangible-Equity of 30.22% is 19% below median its 10-year median of 37.26. Over the past 10 years, this metric has ranged from a low of 25.40 to a high of 42.93. The Conglomerates industry median Return-on-Tangible-Equity is 7.47. Shelly Group SE's value of 30.22% is 304.8% above this industry median. Based on the distribution chart, Shelly Group SE ranks #66 out of 552 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Shelly Group SE has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shelly Group SE's Return-on-Tangible-Equity compare to HON and MMM?
According to the Conglomerates industry distribution chart, Shelly Group SE ranks #66 out of 552 companies for Return-on-Tangible-Equity. This places Shelly Group SE in the top 12% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.47. Shelly Group SE's value of 30.22% is 304.8% above this benchmark. Historically, Shelly Group SE's own Return-on-Tangible-Equity has ranged from 25.40 to 42.93 over the past decade. While the company's 10-year median is 37.26 vs. the industry median of 7.47, Shelly Group SE 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 Conglomerates company?
The median Return-on-Tangible-Equity among Conglomerates companies is 7.47, based on 552 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. Shelly Group SE's current Return-on-Tangible-Equity of 30.22% is 304.8% 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 Shelly Group SE and its competitors. For the Conglomerates industry, the median Return-on-Tangible-Equity is 7.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shelly Group SE's current Return-on-Tangible-Equity is 30.22%, which is 19% below median its own 10-year median of 37.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shelly Group SE stock overvalued right now?
Based on GuruFocus' analysis, Shelly Group SE (FRA:SLYG) is currently considered Modestly Undervalued. The stock's GF Value™ is €67.25, compared to a current price of €56.60 — trading 15.8% below its estimated fair value. The current Return-on-Tangible-Equity is 30.22%, which is 19% below median its 10-year median of 37.26 and 304.8% above the Conglomerates industry median of 7.47. Shelly Group SE's overall GF Score™ is 96/100 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 Shelly Group SE (FRA:SLYG), the current Return-on-Tangible-Equity is 30.22% 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 Shelly Group SE (FRA:SLYG) Overvalued in 2026?
Based on GuruFocus' analysis, Shelly Group SE stock appears to be undervalued.
The current stock price of €56.60 is trading 15.8% below its estimated GF Value™ of €67.25.
GuruFocus considers Shelly Group SE to be Modestly Undervalued.
Key valuation signals for FRA:SLYG:
Return-on-Tangible-Equity: 30.22% (19% below median its 10-year median of 37.26)
GF Value™: €67.25 vs. price of €56.60 (15.8% below fair value)
Industry Position: 304.8% above the Conglomerates median (#66 of 552)
No single metric tells the full story. See the FRA:SLYG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shelly Group SE is engaged in the acquisition, management, evaluation, and sale of participations in Bulgarian & foreign companies; acquisition, management, and sale of bonds; acquisition, evaluation, sale, and patents. The company delivers innovation through designing, producing, and distributing high-quality IoT products. The group manages the business with electronic devices as one operating segment. It derives the majority of its revenue from the sale of smart devices.
96GF Score
Get the complete analysis for FRA:SLYG
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
FRA:SLYG has been successfully added to your 
