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Ray Sigorta ASIST:RAYSG +0.18%54 Return-on-Tangible-Equity is 41.14% as of Mar. 2026, which is 66% above its 10-year median of 24.79. GuruFocus rates IST:RAYSG with a GF Score™ of 54/100 and a GF Value™ of ₺625.62 (Significantly Undervalued). Among 496 Insurance companies, Ray Sigorta AS ranks better than 92.54% 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. Ray Sigorta AS's annualized net income for the quarter that ended in Mar. 2026 was ₺3,648 Mil. Ray Sigorta AS's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₺8,868 Mil. Therefore, Ray Sigorta AS's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 41.14%.
The historical rank and industry rank for Ray Sigorta AS's Return-on-Tangible-Equity or its related term are showing as below:
IST:RAYSG'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 13.14 Med: 24.79 Max: 70.28
Current: 52.08
During the past 13 years, Ray Sigorta AS's highest Return-on-Tangible-Equity was 70.28%. The lowest was 13.14%. And the median was 24.79%.
IST:RAYSG's Return-on-Tangible-Equity is ranked better than 92.54% of 496
companies
in the Insurance industry
Industry Median: 13.43
vs IST:RAYSG: 52.08
Ray Sigorta AS (IST:RAYSG) 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.
Ray Sigorta AS Return-on-Tangible-Equity Related Terms
Ray Sigorta AS Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Ray Sigorta 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.
IST:RAYSG vs BRK.A, AIG, HIG: Return-on-Tangible-Equity Comparison
For the Insurance - Diversified subindustry, Ray Sigorta 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.
Ray Sigorta AS Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, Ray Sigorta AS's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Ray Sigorta 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 41.14% mean?
Ray Sigorta AS (IST:RAYSG) has a Return-on-Tangible-Equity of 41.14% 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 Ray Sigorta AS and its competitors. This is 66% above median its historical median of 24.79. Over the past decade, Ray Sigorta AS's Return-on-Tangible-Equity has ranged from 13.14 to 70.28. According to the industry distribution chart, Ray Sigorta AS ranks #37 out of 496 companies in the Insurance industry, placing it in the top 7.5%.
Is Ray Sigorta AS's Return-on-Tangible-Equity too high?
Ray Sigorta AS's current Return-on-Tangible-Equity of 41.14% is 66% above median its 10-year median of 24.79. Over the past 10 years, this metric has ranged from a low of 13.14 to a high of 70.28. The Insurance industry median Return-on-Tangible-Equity is 13.43. Ray Sigorta AS's value of 41.14% is 206.3% above this industry median. Based on the distribution chart, Ray Sigorta AS ranks #37 out of 496 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Ray Sigorta AS has a GF Score™ of 54/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ray Sigorta AS's Return-on-Tangible-Equity compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Ray Sigorta AS ranks #37 out of 496 companies for Return-on-Tangible-Equity. This places Ray Sigorta AS in the top 8% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 13.43. Ray Sigorta AS's value of 41.14% is 206.3% above this benchmark. Historically, Ray Sigorta AS's own Return-on-Tangible-Equity has ranged from 13.14 to 70.28 over the past decade. While the company's 10-year median is 24.79 vs. the industry median of 13.43, Ray Sigorta 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 Insurance company?
The median Return-on-Tangible-Equity among Insurance companies is 13.43, based on 496 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. Ray Sigorta AS's current Return-on-Tangible-Equity of 41.14% is 206.3% 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 Ray Sigorta AS and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ray Sigorta AS's current Return-on-Tangible-Equity is 41.14%, which is 66% above median its own 10-year median of 24.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ray Sigorta AS stock overvalued right now?
Based on GuruFocus' analysis, Ray Sigorta AS (IST:RAYSG) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺625.62, compared to a current price of ₺171.40 — trading 72.6% below its estimated fair value. The current Return-on-Tangible-Equity is 41.14%, which is 66% above median its 10-year median of 24.79 and 206.3% above the Insurance industry median of 13.43. Ray Sigorta AS's overall GF Score™ is 54/100. 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 Ray Sigorta AS (IST:RAYSG), the current Return-on-Tangible-Equity is 41.14% 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 Ray Sigorta AS (IST:RAYSG) Overvalued in 2026?
Based on GuruFocus' analysis, Ray Sigorta AS stock appears to be undervalued.
The current stock price of ₺171.40 is trading 72.6% below its estimated GF Value™ of ₺625.62.
GuruFocus considers Ray Sigorta AS to be Significantly Undervalued.
Key valuation signals for IST:RAYSG:
Return-on-Tangible-Equity: 41.14% (66% above median its 10-year median of 24.79)
GF Value™: ₺625.62 vs. price of ₺171.40 (72.6% below fair value)
Industry Position: 206.3% above the Insurance median (#37 of 496)
No single metric tells the full story. See the IST:RAYSG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ray Sigorta AS is a Turkey-based insurance company. It offers motor, household and health insurances. The motor insurance covers accidents such as the collision of the car with other motor or no-motor vehicles used on the road or railroad. Its household insurance secures house and goods against many risks such as fire, robbery, earthquake, and floods. The health insurance product consists of emergency health insurance, complementary health insurance, health insurance for foreigners and travel health insurance. Additionally, it also provides contracted health institutions and contracted auto services.
54GF Score
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