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Combined Motor HoldingsJSE:CMH -0.03%90 Return-on-Tangible-Equity is 32.04% as of Feb. 2026, which is 3% above its 10-year median of 31.03. GuruFocus rates JSE:CMH with a GF Score™ of 90/100 and a GF Value™ of R38.97 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,283 Vehicles & Parts companies, Combined Motor Holdings ranks better than 89.79% 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. Combined Motor Holdings's annualized net income for the quarter that ended in Feb. 2026 was R453 Mil. Combined Motor Holdings's average shareholder tangible equity for the quarter that ended in Feb. 2026 was R1,413 Mil. Therefore, Combined Motor Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 32.04%.
The historical rank and industry rank for Combined Motor Holdings's Return-on-Tangible-Equity or its related term are showing as below:
JSE:CMH'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 20.47 Med: 31.03 Max: 40.03
Current: 27.91
During the past 13 years, Combined Motor Holdings's highest Return-on-Tangible-Equity was 40.03%. The lowest was 20.47%. And the median was 31.03%.
JSE:CMH's Return-on-Tangible-Equity is ranked better than 89.79% of 1283
companies
in the Vehicles & Parts industry
Industry Median: 7.47
vs JSE:CMH: 27.91
Combined Motor Holdings (JSE:CMH) 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.
Combined Motor Holdings Return-on-Tangible-Equity Related Terms
Combined Motor Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Combined Motor Holdings'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.
Combined Motor Holdings Return-on-Tangible-Equity Chart
JSE:CMH vs CVNA, PAG, ALTB: Return-on-Tangible-Equity Comparison
For the Auto & Truck Dealerships subindustry, Combined Motor Holdings'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.
Combined Motor Holdings Return-on-Tangible-Equity vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Combined Motor Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Combined Motor Holdings'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 (Feb. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 32.04% mean?
Combined Motor Holdings (JSE:CMH) has a Return-on-Tangible-Equity of 32.04% as of Feb. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Combined Motor Holdings and its competitors. This is near median its historical median of 31.03. Over the past decade, Combined Motor Holdings' Return-on-Tangible-Equity has ranged from 20.47 to 40.03. According to the industry distribution chart, Combined Motor Holdings ranks #131 out of 1283 companies in the Vehicles & Parts industry, placing it in the top 10.2%.
Is Combined Motor Holdings' Return-on-Tangible-Equity too high?
Combined Motor Holdings' current Return-on-Tangible-Equity of 32.04% is near median its 10-year median of 31.03. Over the past 10 years, this metric has ranged from a low of 20.47 to a high of 40.03. The Vehicles & Parts industry median Return-on-Tangible-Equity is 7.47. Combined Motor Holdings' value of 32.04% is 328.9% above this industry median. Based on the distribution chart, Combined Motor Holdings ranks #131 out of 1283 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Combined Motor Holdings has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Combined Motor Holdings' Return-on-Tangible-Equity compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Combined Motor Holdings ranks #131 out of 1283 companies for Return-on-Tangible-Equity. This places Combined Motor Holdings in the top 10% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.47. Combined Motor Holdings' value of 32.04% is 328.9% above this benchmark. Historically, Combined Motor Holdings' own Return-on-Tangible-Equity has ranged from 20.47 to 40.03 over the past decade. While the company's 10-year median is 31.03 vs. the industry median of 7.47, Combined Motor Holdings 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 a Vehicles & Parts company?
The median Return-on-Tangible-Equity among Vehicles & Parts companies is 7.47, based on 1,283 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. Combined Motor Holdings's current Return-on-Tangible-Equity of 32.04% is 328.9% 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 Combined Motor Holdings and its competitors. For the Vehicles & Parts industry, the median Return-on-Tangible-Equity is 7.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Combined Motor Holdings's current Return-on-Tangible-Equity is 32.04%, which is near median its own 10-year median of 31.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Combined Motor Holdings stock overvalued right now?
Based on GuruFocus' analysis, Combined Motor Holdings (JSE:CMH) is currently considered Fairly Valued. The stock's GF Value™ is R38.97, compared to a current price of R39.70 — trading 1.9% above its estimated fair value. The current Return-on-Tangible-Equity is 32.04%, which is near median its 10-year median of 31.03 and 328.9% above the Vehicles & Parts industry median of 7.47. Combined Motor Holdings' overall GF Score™ is 90/100 with 3 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 Combined Motor Holdings (JSE:CMH), the current Return-on-Tangible-Equity is 32.04% as of Feb. 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 Combined Motor Holdings (JSE:CMH) Overvalued in 2026?
Based on GuruFocus' analysis, Combined Motor Holdings stock appears to be overvalued.
The current stock price of R39.70 is trading 1.9% above its estimated GF Value™ of R38.97.
GuruFocus considers Combined Motor Holdings to be Fairly Valued.
Key valuation signals for JSE:CMH:
Return-on-Tangible-Equity: 32.04% (near median its 10-year median of 31.03)
GF Value™: R38.97 vs. price of R39.70 (1.9% above fair value)
Industry Position: 328.9% above the Vehicles & Parts median (#131 of 1283)
No single metric tells the full story. See the JSE:CMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Combined Motor Holdings Ltd is a South Africa-based investment holding company engaged in motor retail and distribution, car hire, and financial services. The Company operates through four business segments: Motor Retail and Distribution, which generates maximum revenue and covers passenger, light commercial, and heavy commercial vehicles in both the volume and luxury categories; Car Hire, which offers a range of well-maintained vehicles for short- and long-term hire; Financial Services, which provides insurance underwriting facilities for products sold with new and used vehicles, including coverage for death, disability, dread disease, retrenchment, vehicle and component warranties, and vehicle financing through joint ventures with two finance houses; and Corporate Services and Other.
90GF Score
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