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.
GAG Immobilien AGHAM:GWK3 +3.98%66 Return-on-Tangible-Equity is 4.05% as of Dec. 2025, which is 25% below its 10-year median of 5.42. GuruFocus rates HAM:GWK3 with a GF Score™ of 66/100 and a GF Value™ of €54.70 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,713 Real Estate companies, GAG Immobilien AG ranks worse than 50.61% 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. GAG Immobilien AG's annualized net income for the quarter that ended in Dec. 2025 was €35.0 Mil. GAG Immobilien AG's average shareholder tangible equity for the quarter that ended in Dec. 2025 was €864.6 Mil. Therefore, GAG Immobilien AG's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 4.05%.
The historical rank and industry rank for GAG Immobilien AG's Return-on-Tangible-Equity or its related term are showing as below:
HAM:GWK3'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.24 Med: 5.42 Max: 10.69
Current: 4.05
During the past 13 years, GAG Immobilien AG's highest Return-on-Tangible-Equity was 10.69%. The lowest was 2.24%. And the median was 5.42%.
HAM:GWK3's Return-on-Tangible-Equity is ranked worse than 50.61% of 1713
companies
in the Real Estate industry
Industry Median: 4.26
vs HAM:GWK3: 4.05
GAG Immobilien AG (HAM:GWK3) 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.
GAG Immobilien AG Return-on-Tangible-Equity Related Terms
GAG Immobilien AG Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for GAG Immobilien AG'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.
HAM:GWK3 vs CBRE, BEKE, JLL: Return-on-Tangible-Equity Comparison
For the Real Estate Services subindustry, GAG Immobilien AG'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.
GAG Immobilien AG Return-on-Tangible-Equity vs Real Estate Industry
For the Real Estate industry and Real Estate sector, GAG Immobilien AG's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where GAG Immobilien AG'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 one times the 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 4.05% mean?
GAG Immobilien AG (HAM:GWK3) has a Return-on-Tangible-Equity of 4.05% 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 GAG Immobilien AG and its competitors. This is 25% below median its historical median of 5.42. Over the past decade, GAG Immobilien AG's Return-on-Tangible-Equity has ranged from 2.24 to 10.69. According to the industry distribution chart, GAG Immobilien AG ranks #867 out of 1713 companies in the Real Estate industry, placing it in the top 50.6%.
Is GAG Immobilien AG's Return-on-Tangible-Equity too high?
GAG Immobilien AG's current Return-on-Tangible-Equity of 4.05% is 25% below median its 10-year median of 5.42. Over the past 10 years, this metric has ranged from a low of 2.24 to a high of 10.69. The Real Estate industry median Return-on-Tangible-Equity is 4.26. GAG Immobilien AG's value of 4.05% is 4.9% below this industry median. Based on the distribution chart, GAG Immobilien AG ranks #867 out of 1713 companies in the Real Estate industry, which is below the industry midpoint. Overall, GAG Immobilien AG has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does GAG Immobilien AG's Return-on-Tangible-Equity compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, GAG Immobilien AG ranks #867 out of 1713 companies for Return-on-Tangible-Equity. This places GAG Immobilien AG in the lower half of its industry. The industry median Return-on-Tangible-Equity is 4.26. GAG Immobilien AG's value of 4.05% is 4.9% below this benchmark. Historically, GAG Immobilien AG's own Return-on-Tangible-Equity has ranged from 2.24 to 10.69 over the past decade. While the company's 10-year median is 5.42 vs. the industry median of 4.26, GAG Immobilien AG has consistently been below 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 Real Estate company?
The median Return-on-Tangible-Equity among Real Estate companies is 4.26, based on 1,713 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. GAG Immobilien AG's current Return-on-Tangible-Equity of 4.05% is 4.9% below 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 GAG Immobilien AG and its competitors. For the Real Estate industry, the median Return-on-Tangible-Equity is 4.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GAG Immobilien AG's current Return-on-Tangible-Equity is 4.05%, which is 25% below median its own 10-year median of 5.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GAG Immobilien AG stock overvalued right now?
Based on GuruFocus' analysis, GAG Immobilien AG (HAM:GWK3) is currently considered Modestly Undervalued. The stock's GF Value™ is €54.70, compared to a current price of €47.00 — trading 14.1% below its estimated fair value. The current Return-on-Tangible-Equity is 4.05%, which is 25% below median its 10-year median of 5.42 and 4.9% below the Real Estate industry median of 4.26. GAG Immobilien AG's overall GF Score™ is 66/100 with 6 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 GAG Immobilien AG (HAM:GWK3), the current Return-on-Tangible-Equity is 4.05% 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 GAG Immobilien AG (HAM:GWK3) Overvalued in 2026?
Based on GuruFocus' analysis, GAG Immobilien AG stock appears to be undervalued.
The current stock price of €47.00 is trading 14.1% below its estimated GF Value™ of €54.70.
GuruFocus considers GAG Immobilien AG to be Modestly Undervalued.
Key valuation signals for HAM:GWK3:
Return-on-Tangible-Equity: 4.05% (25% below median its 10-year median of 5.42)
GF Value™: €54.70 vs. price of €47.00 (14.1% below fair value)
Industry Position: 4.9% below the Real Estate median (#867 of 1713)
No single metric tells the full story. See the HAM:GWK3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GAG Immobilien AG is a Germany based provider of real-estate services and consultation in the city of Cologne. The company operates as a landlord, and is focused on the business of Leasing, Selling and Managing properties. In the leasing business, the company focuses on leasing the properties it owns. The organization apart from being involved in the provision of leasing services, also sells homes, condominiums, flats and buildings. In the Managing business, the entity undertakes the management and administration of third-party apartments for their owners or owner associations.
66GF Score
Get the complete analysis for HAM:GWK3
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
HAM:GWK3 has been successfully added to your 
