Dipula PropertiesJSE:DIB 46 Return-on-Tangible-Equity is 8.03% as of Feb. 2026, which is 28% below its 10-year median of 11.15. GuruFocus rates JSE:DIB with a GF Score™ of 46/100 and a GF Value™ of R3.26 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 931 REITs companies, Dipula Properties ranks better than 85.18% 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. Dipula Properties's annualized net income for the quarter that ended in Feb. 2026 was R571 Mil. Dipula Properties's average shareholder tangible equity for the quarter that ended in Feb. 2026 was R7,117 Mil. Therefore, Dipula Properties's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 8.03%.
The historical rank and industry rank for Dipula Properties's Return-on-Tangible-Equity or its related term are showing as below:
JSE:DIB'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.24 Med: 11.15 Max: 18.99
Current: 14.07
During the past 13 years, Dipula Properties's highest Return-on-Tangible-Equity was 18.99%. The lowest was 2.24%. And the median was 11.15%.
JSE:DIB's Return-on-Tangible-Equity is ranked better than 85.18% of 931
companies
in the REITs industry
Industry Median: 6.25
vs JSE:DIB: 14.07
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.
Dipula Properties Return-on-Tangible-Equity Related Terms
Dipula Properties Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Dipula Properties'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:DIB vs SPG, O, KIM: Return-on-Tangible-Equity Comparison
For the REIT - Retail subindustry, Dipula Properties'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.
Dipula Properties Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Dipula Properties's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Dipula Properties'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 8.03% mean?
Dipula Properties (JSE:DIB) has a Return-on-Tangible-Equity of 8.03% 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 Dipula Properties and its competitors. This is 28% below median its historical median of 11.15. Over the past decade, Dipula Properties' Return-on-Tangible-Equity has ranged from 2.24 to 18.99. According to the industry distribution chart, Dipula Properties ranks #138 out of 931 companies in the REITs industry, placing it in the top 14.8%.
Is Dipula Properties' Return-on-Tangible-Equity too high?
Dipula Properties' current Return-on-Tangible-Equity of 8.03% is 28% below median its 10-year median of 11.15. Over the past 10 years, this metric has ranged from a low of 2.24 to a high of 18.99. The REITs industry median Return-on-Tangible-Equity is 6.25. Dipula Properties' value of 8.03% is 28.5% above this industry median. Based on the distribution chart, Dipula Properties ranks #138 out of 931 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Dipula Properties has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dipula Properties' Return-on-Tangible-Equity compare to SPG and O?
According to the REITs industry distribution chart, Dipula Properties ranks #138 out of 931 companies for Return-on-Tangible-Equity. This places Dipula Properties in the top 15% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.25. Dipula Properties' value of 8.03% is 28.5% above this benchmark. Historically, Dipula Properties' own Return-on-Tangible-Equity has ranged from 2.24 to 18.99 over the past decade. While the company's 10-year median is 11.15 vs. the industry median of 6.25, Dipula Properties 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 REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.25, based on 931 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. Dipula Properties's current Return-on-Tangible-Equity of 8.03% is 28.5% 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 Dipula Properties and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dipula Properties's current Return-on-Tangible-Equity is 8.03%, which is 28% below median its own 10-year median of 11.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dipula Properties stock overvalued right now?
Based on GuruFocus' analysis, Dipula Properties (JSE:DIB) is currently considered Significantly Overvalued. The stock's GF Value™ is R3.26, compared to a current price of R7.10 — trading 117.8% above its estimated fair value. The current Return-on-Tangible-Equity is 8.03%, which is 28% below median its 10-year median of 11.15 and 28.5% above the REITs industry median of 6.25. Dipula Properties' overall GF Score™ is 46/100 with 11 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 Dipula Properties (JSE:DIB), the current Return-on-Tangible-Equity is 8.03% 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 Dipula Properties (JSE:DIB) Overvalued in 2026?
Based on GuruFocus' analysis, Dipula Properties stock appears to be overvalued.
The current stock price of R7.10 is trading 117.8% above its estimated GF Value™ of R3.26.
GuruFocus considers Dipula Properties to be Significantly Overvalued.
Key valuation signals for JSE:DIB:
Return-on-Tangible-Equity: 8.03% (28% below median its 10-year median of 11.15)
GF Value™: R3.26 vs. price of R7.10 (117.8% above fair value)
Industry Position: 28.5% above the REITs median (#138 of 931)
No single metric tells the full story. See the JSE:DIB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dipula Properties Ltd is a South Africa-based real estate investment trust that owns a diversified property portfolio comprising defensive urban, township, and rural community retail centres. In addition to retail assets, the company also owns mid-sized industrial and logistics properties, office properties in urban areas, and affordable residential rental assets located in economically active regions across South Africa. The company's operating segments include Retail, Offices, Industrial, Land, Residential, and Corporate. The majority of its revenue is derived from the Retail segment, which represents income generated from its portfolio of shopping centres. The majority of its properties are located in Gauteng.
46GF Score
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