Anglogold AshantiHAM:HT3 -0.75%72 Return-on-Tangible-Equity is 62.84% as of Mar. 2026, which is 958% above its 10-year median of 5.94. GuruFocus rates HAM:HT3 with a GF Score™ of 72/100 and a GF Value™ of €47.56 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,377 Metals & Mining companies, Anglogold Ashanti ranks better than 95.16% 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. Anglogold Ashanti's annualized net income for the quarter that ended in Mar. 2026 was €4,432 Mil. Anglogold Ashanti's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €7,053 Mil. Therefore, Anglogold Ashanti's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 62.84%.
The historical rank and industry rank for Anglogold Ashanti's Return-on-Tangible-Equity or its related term are showing as below:
HAM:HT3'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -6.71 Med: 5.94 Max: 45.73
Current: 45.73
During the past 13 years, Anglogold Ashanti's highest Return-on-Tangible-Equity was 45.73%. The lowest was -6.71%. And the median was 5.94%.
HAM:HT3's Return-on-Tangible-Equity is ranked better than 95.16% of 2377
companies
in the Metals & Mining industry
Industry Median: -16.19
vs HAM:HT3: 45.73
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.
Anglogold Ashanti Return-on-Tangible-Equity Related Terms
Anglogold Ashanti Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Anglogold Ashanti'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:HT3 vs RGLD, CDE, AUGO: Return-on-Tangible-Equity Comparison
For the Gold subindustry, Anglogold Ashanti'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.
Anglogold Ashanti Return-on-Tangible-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Anglogold Ashanti's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Anglogold Ashanti'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 62.84% mean?
Anglogold Ashanti (HAM:HT3) has a Return-on-Tangible-Equity of 62.84% 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 Anglogold Ashanti and its competitors. This is 958% above median its historical median of 5.94. According to the industry distribution chart, Anglogold Ashanti ranks #115 out of 2377 companies in the Metals & Mining industry, placing it in the top 4.8%.
Is Anglogold Ashanti's Return-on-Tangible-Equity too high?
Anglogold Ashanti's current Return-on-Tangible-Equity of 62.84% is 958% above median its 10-year median of 5.94. Based on the distribution chart, Anglogold Ashanti ranks #115 out of 2377 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Anglogold Ashanti has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Anglogold Ashanti's Return-on-Tangible-Equity compare to RGLD and CDE?
According to the Metals & Mining industry distribution chart, Anglogold Ashanti ranks #115 out of 2377 companies for Return-on-Tangible-Equity. This places Anglogold Ashanti in the top 5% of its industry — outperforming the majority of peers. 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 Metals & Mining company?
A good Return-on-Tangible-Equity depends on the Metals & Mining industry context. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Anglogold Ashanti and its competitors. Anglogold Ashanti's current Return-on-Tangible-Equity is 62.84%, which is 958% above median its own 10-year median of 5.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anglogold Ashanti stock overvalued right now?
Based on GuruFocus' analysis, Anglogold Ashanti (HAM:HT3) is currently considered Significantly Overvalued. The stock's GF Value™ is €47.56, compared to a current price of €71.28 — trading 49.9% above its estimated fair value. The current Return-on-Tangible-Equity is 62.84%, which is 958% above median its 10-year median of 5.94. Anglogold Ashanti's overall GF Score™ is 72/100 with 2 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 Anglogold Ashanti (HAM:HT3), the current Return-on-Tangible-Equity is 62.84% 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 Anglogold Ashanti (HAM:HT3) Overvalued in 2026?
Based on GuruFocus' analysis, Anglogold Ashanti stock appears to be overvalued.
The current stock price of €71.28 is trading 49.9% above its estimated GF Value™ of €47.56.
GuruFocus considers Anglogold Ashanti to be Significantly Overvalued.
Key valuation signals for HAM:HT3:
Return-on-Tangible-Equity: 62.84% (958% above median its 10-year median of 5.94)
GF Value™: €47.56 vs. price of €71.28 (49.9% above fair value)
No single metric tells the full story. See the HAM:HT3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anglogold Ashanti PLC is an independent gold mining company. It has a diversified asset portfolio, including production from operations in eight countries (Argentina, Australia, Brazil, Egypt, Ghana, Guinea, the DRC, and Tanzania), supported by greenfield projects in the United States and Colombia. The company's main product is gold, which once mined, is processed into dore (unrefined gold bars) on site and then dispatched to precious metals refineries. Geographically, Anglogold generates maximum revenue from its operations in Africa (comprising operations at Kibali, Iduapriem, Obuasi, Siguiri, Geita, and Sukari mines), followed by Australia (including Sunrise Dam and Tropicana), and the Americas (comprising Cerro Vanguardia, AngloGold Ashanti Mineracao, and Serra Grande operations).
72GF Score
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