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.
Independent Capital AGHAM:I8CK +1.28%46 Return-on-Tangible-Equity is 29.63% as of Dec. 2024, which is 529% above its 10-year median of 4.71. GuruFocus rates HAM:I8CK with a GF Score™ of 46/100 and a GF Value™ of €5.13 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,589 Asset Management companies, Independent Capital AG ranks better than 86.28% 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. Independent Capital AG's annualized net income for the quarter that ended in Dec. 2024 was €0.50 Mil. Independent Capital AG's average shareholder tangible equity for the quarter that ended in Dec. 2024 was €1.70 Mil. Therefore, Independent Capital AG's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2024 was 29.63%.
The historical rank and industry rank for Independent Capital AG's Return-on-Tangible-Equity or its related term are showing as below:
HAM:I8CK'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -71.73 Med: 4.71 Max: 116.51
Current: 29.63
During the past 11 years, Independent Capital AG's highest Return-on-Tangible-Equity was 116.51%. The lowest was -71.73%. And the median was 4.71%.
HAM:I8CK's Return-on-Tangible-Equity is ranked better than 86.28% of 1589
companies
in the Asset Management industry
Industry Median: 7.21
vs HAM:I8CK: 29.63
Independent Capital AG (HAM:I8CK) 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.
Independent Capital AG Return-on-Tangible-Equity Related Terms
Independent Capital AG Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Independent Capital 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.
Independent Capital AG Return-on-Tangible-Equity Chart
HAM:I8CK vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Independent Capital 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.
Independent Capital AG Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Independent Capital AG's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Independent Capital 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. 2024) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 29.63% mean?
Independent Capital AG (HAM:I8CK) has a Return-on-Tangible-Equity of 29.63% as of Dec. 2024. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Independent Capital AG and its competitors. This is 529% above median its historical median of 4.71. According to the industry distribution chart, Independent Capital AG ranks #218 out of 1589 companies in the Asset Management industry, placing it in the top 13.7%.
Is Independent Capital AG's Return-on-Tangible-Equity too high?
Independent Capital AG's current Return-on-Tangible-Equity of 29.63% is 529% above median its 10-year median of 4.71. The Asset Management industry median Return-on-Tangible-Equity is 7.21. Independent Capital AG's value of 29.63% is 311% above this industry median. Based on the distribution chart, Independent Capital AG ranks #218 out of 1589 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Independent Capital AG has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Independent Capital AG's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, Independent Capital AG ranks #218 out of 1589 companies for Return-on-Tangible-Equity. This places Independent Capital AG in the top 14% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.21. Independent Capital AG's value of 29.63% is 311% above this benchmark. While the company's 10-year median is 4.71 vs. the industry median of 7.21, Independent Capital AG 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 7.21, based on 1,589 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. Independent Capital AG's current Return-on-Tangible-Equity of 29.63% is 311% 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 Independent Capital AG and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Independent Capital AG's current Return-on-Tangible-Equity is 29.63%, which is 529% above median its own 10-year median of 4.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Independent Capital AG stock overvalued right now?
Based on GuruFocus' analysis, Independent Capital AG (HAM:I8CK) is currently considered Possible Value Trap. The stock's GF Value™ is €5.13, compared to a current price of €0.79 — trading 84.6% below its estimated fair value. The current Return-on-Tangible-Equity is 29.63%, which is 529% above median its 10-year median of 4.71 and 311% above the Asset Management industry median of 7.21. Independent Capital AG's overall GF Score™ is 46/100 with 5 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 Independent Capital AG (HAM:I8CK), the current Return-on-Tangible-Equity is 29.63% as of Dec. 2024. 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 Independent Capital AG (HAM:I8CK) Overvalued in 2026?
Based on GuruFocus' analysis, Independent Capital AG stock appears to be undervalued.
The current stock price of €0.79 is trading 84.6% below its estimated GF Value™ of €5.13.
GuruFocus considers Independent Capital AG to be Possible Value Trap.
Key valuation signals for HAM:I8CK:
Return-on-Tangible-Equity: 29.63% (529% above median its 10-year median of 4.71)
GF Value™: €5.13 vs. price of €0.79 (84.6% below fair value)
Industry Position: 311% above the Asset Management median (#218 of 1589)
No single metric tells the full story. See the HAM:I8CK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Independent Capital AG is a financing solutions provider. The company follows the crowd-solution principle and supports financing projects across the world by providing comprehensive advice on country-specific funding opportunities.
46GF Score
Get the complete analysis for HAM:I8CK
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:I8CK has been successfully added to your 
