ClienteleJSE:CLI 48 Return-on-Tangible-Equity is 17.04% as of Dec. 2025, which is 51% below its 10-year median of 34.48. GuruFocus rates JSE:CLI with a GF Score™ of 48/100 and a GF Value™ of R18.50 (Fairly Valued). The stock has 8 warning signs investors should review. Among 499 Insurance companies, Clientele ranks better than 56.91% 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. Clientele's annualized net income for the quarter that ended in Dec. 2025 was R939 Mil. Clientele's average shareholder tangible equity for the quarter that ended in Dec. 2025 was R5,508 Mil. Therefore, Clientele's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 17.04%.
The historical rank and industry rank for Clientele's Return-on-Tangible-Equity or its related term are showing as below:
JSE:CLI'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 10.29 Med: 34.48 Max: 53.17
Current: 15.26
During the past 13 years, Clientele's highest Return-on-Tangible-Equity was 53.17%. The lowest was 10.29%. And the median was 34.48%.
JSE:CLI's Return-on-Tangible-Equity is ranked better than 56.91% of 499
companies
in the Insurance industry
Industry Median: 13.32
vs JSE:CLI: 15.26
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.
Clientele Return-on-Tangible-Equity Related Terms
Clientele Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Clientele'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.
JSE:CLI vs BRK.A, AIG, HIG: Return-on-Tangible-Equity Comparison
For the Insurance - Diversified subindustry, Clientele'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.
Clientele Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, Clientele's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Clientele'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 two times the semi-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 17.04% mean?
Clientele (JSE:CLI) has a Return-on-Tangible-Equity of 17.04% 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 Clientele and its competitors. This is 51% below median its historical median of 34.48. Over the past decade, Clientele's Return-on-Tangible-Equity has ranged from 10.29 to 53.17. According to the industry distribution chart, Clientele ranks #215 out of 499 companies in the Insurance industry, placing it in the top 43.1%.
Is Clientele's Return-on-Tangible-Equity too high?
Clientele's current Return-on-Tangible-Equity of 17.04% is 51% below median its 10-year median of 34.48. Over the past 10 years, this metric has ranged from a low of 10.29 to a high of 53.17. The Insurance industry median Return-on-Tangible-Equity is 13.32. Clientele's value of 17.04% is 27.9% above this industry median. Based on the distribution chart, Clientele ranks #215 out of 499 companies in the Insurance industry, which is above the industry midpoint. Overall, Clientele has a GF Score™ of 48/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Clientele's Return-on-Tangible-Equity compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Clientele ranks #215 out of 499 companies for Return-on-Tangible-Equity. This puts Clientele in the upper half of its industry. The industry median Return-on-Tangible-Equity is 13.32. Clientele's value of 17.04% is 27.9% above this benchmark. Historically, Clientele's own Return-on-Tangible-Equity has ranged from 10.29 to 53.17 over the past decade. While the company's 10-year median is 34.48 vs. the industry median of 13.32, Clientele 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 13.32, based on 499 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. Clientele's current Return-on-Tangible-Equity of 17.04% is 27.9% 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 Clientele and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Clientele's current Return-on-Tangible-Equity is 17.04%, which is 51% below median its own 10-year median of 34.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clientele stock overvalued right now?
Based on GuruFocus' analysis, Clientele (JSE:CLI) is currently considered Fairly Valued. The stock's GF Value™ is R18.50, compared to a current price of R19.71 — trading 6.5% above its estimated fair value. The current Return-on-Tangible-Equity is 17.04%, which is 51% below median its 10-year median of 34.48 and 27.9% above the Insurance industry median of 13.32. Clientele's overall GF Score™ is 48/100 with 8 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 Clientele (JSE:CLI), the current Return-on-Tangible-Equity is 17.04% 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 Clientele (JSE:CLI) Overvalued in 2026?
Based on GuruFocus' analysis, Clientele stock appears to be overvalued.
The current stock price of R19.71 is trading 6.5% above its estimated GF Value™ of R18.50.
GuruFocus considers Clientele to be Fairly Valued.
Key valuation signals for JSE:CLI:
Return-on-Tangible-Equity: 17.04% (51% below median its 10-year median of 34.48)
GF Value™: R18.50 vs. price of R19.71 (6.5% above fair value)
Industry Position: 27.9% above the Insurance median (#215 of 499)
No single metric tells the full story. See the JSE:CLI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Clientele Ltd is a diversified financial services group. It markets, distributes, and underwrites insurance and investment products. The company's operating segment includes Clientele Life Insurance, 1Life Insurance, Non-Life Insurance, Emerald Life Insurance, and CBC Rewards, Mobile & Direct Rewards. Its insurance products and services include Legal, Mobile, Wealth, Credit Life, Investments, and others. It generates maximum revenue from the 1Life insurance segment, which involves the sale and administration of long-term insurance risk policies. The group currently operates in the South African market only.
48GF Score
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