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Emira Property FundJSE:EMI -1.16%54 Return-on-Tangible-Equity is 5.37% as of Mar. 2026, which is 30% below its 10-year median of 7.71. GuruFocus rates JSE:EMI with a GF Score™ of 54/100 and a GF Value™ of R8.63 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 928 REITs companies, Emira Property Fund ranks better than 58.62% 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. Emira Property Fund's annualized net income for the quarter that ended in Mar. 2026 was R525 Mil. Emira Property Fund's average shareholder tangible equity for the quarter that ended in Mar. 2026 was R9,787 Mil. Therefore, Emira Property Fund's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 5.37%.
The historical rank and industry rank for Emira Property Fund's Return-on-Tangible-Equity or its related term are showing as below:
JSE:EMI'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -8.94 Med: 7.71 Max: 26.18
Current: 7.39
During the past 13 years, Emira Property Fund's highest Return-on-Tangible-Equity was 26.18%. The lowest was -8.94%. And the median was 7.71%.
JSE:EMI's Return-on-Tangible-Equity is ranked better than 58.62% of 928
companies
in the REITs industry
Industry Median: 6.265
vs JSE:EMI: 7.39
Emira Property Fund (JSE:EMI) 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.
Emira Property Fund Return-on-Tangible-Equity Related Terms
Emira Property Fund Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Emira Property Fund'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.
Emira Property Fund Return-on-Tangible-Equity Chart
JSE:EMI vs VICI, WPC: Return-on-Tangible-Equity Comparison
For the REIT - Diversified subindustry, Emira Property Fund'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.
Emira Property Fund Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Emira Property Fund's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Emira Property Fund'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 (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 5.37% mean?
Emira Property Fund (JSE:EMI) has a Return-on-Tangible-Equity of 5.37% 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 Emira Property Fund and its competitors. This is 30% below median its historical median of 7.71. According to the industry distribution chart, Emira Property Fund ranks #384 out of 928 companies in the REITs industry, placing it in the top 41.4%.
Is Emira Property Fund's Return-on-Tangible-Equity too high?
Emira Property Fund's current Return-on-Tangible-Equity of 5.37% is 30% below median its 10-year median of 7.71. The REITs industry median Return-on-Tangible-Equity is 6.27. Emira Property Fund's value of 5.37% is 14.3% below this industry median. Based on the distribution chart, Emira Property Fund ranks #384 out of 928 companies in the REITs industry, which is above the industry midpoint. Overall, Emira Property Fund has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Emira Property Fund's Return-on-Tangible-Equity compare to VICI and WPC?
According to the REITs industry distribution chart, Emira Property Fund ranks #384 out of 928 companies for Return-on-Tangible-Equity. This puts Emira Property Fund in the upper half of its industry. The industry median Return-on-Tangible-Equity is 6.27. Emira Property Fund's value of 5.37% is 14.3% below this benchmark. While the company's 10-year median is 7.71 vs. the industry median of 6.27, Emira Property Fund has consistently been below 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 6.27, based on 928 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. Emira Property Fund's current Return-on-Tangible-Equity of 5.37% is 14.3% below 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 Emira Property Fund and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emira Property Fund's current Return-on-Tangible-Equity is 5.37%, which is 30% below median its own 10-year median of 7.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emira Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Emira Property Fund (JSE:EMI) is currently considered Significantly Overvalued. The stock's GF Value™ is R8.63, compared to a current price of R13.64 — trading 58.1% above its estimated fair value. The current Return-on-Tangible-Equity is 5.37%, which is 30% below median its 10-year median of 7.71 and 14.3% below the REITs industry median of 6.27. Emira Property Fund's overall GF Score™ is 54/100 with 6 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 Emira Property Fund (JSE:EMI), the current Return-on-Tangible-Equity is 5.37% 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 Emira Property Fund (JSE:EMI) Overvalued in 2026?
Based on GuruFocus' analysis, Emira Property Fund stock appears to be overvalued.
The current stock price of R13.64 is trading 58.1% above its estimated GF Value™ of R8.63.
GuruFocus considers Emira Property Fund to be Significantly Overvalued.
Key valuation signals for JSE:EMI:
Return-on-Tangible-Equity: 5.37% (30% below median its 10-year median of 7.71)
GF Value™: R8.63 vs. price of R13.64 (58.1% above fair value)
Industry Position: 14.3% below the REITs median (#384 of 928)
No single metric tells the full story. See the JSE:EMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Emira Property Fund Ltd is a South African real estate investment trust. The company's portfolio consists of office, retail, residential, and industrial properties. The majority of the properties are in Gauteng, with the others in the Western Cape and KwaZulu-Natal. The company operates through five segments, namely: Office; Retail; Industrial; Residential; and Corporate. The office segment comprises commercial properties. The retail segment includes shopping centers. The industrial segment consists of industrial properties. The residential segment comprises directly held residential property, and the corporate segment comprises the South African administration activities of the Group.
54GF Score
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Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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