Exemplar REITailJSE:EXP 73 Return-on-Tangible-Equity is 32.58% as of Feb. 2026, which is 54% above its 10-year median of 21.09. GuruFocus rates JSE:EXP with a GF Score™ of 73/100 and a GF Value™ of R15.69 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 933 REITs companies, Exemplar REITail ranks better than 94.96% 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. Exemplar REITail's annualized net income for the quarter that ended in Feb. 2026 was R1,988 Mil. Exemplar REITail's average shareholder tangible equity for the quarter that ended in Feb. 2026 was R6,103 Mil. Therefore, Exemplar REITail's annualized Return-on-Tangible-Equity for the quarter that ended in Feb. 2026 was 32.58%.
The historical rank and industry rank for Exemplar REITail's Return-on-Tangible-Equity or its related term are showing as below:
JSE:EXP'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 6.4 Med: 21.09 Max: 23.9
Current: 23.9
During the past 11 years, Exemplar REITail's highest Return-on-Tangible-Equity was 23.90%. The lowest was 6.40%. And the median was 21.09%.
JSE:EXP's Return-on-Tangible-Equity is ranked better than 94.96% of 933
companies
in the REITs industry
Industry Median: 6.26
vs JSE:EXP: 23.90
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.
Exemplar REITail Return-on-Tangible-Equity Related Terms
Exemplar REITail Return-on-Tangible-Equity Historical Data
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The historical data trend for Exemplar REITail'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:EXP vs SPG, O, KIM: Return-on-Tangible-Equity Comparison
For the REIT - Retail subindustry, Exemplar REITail'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.
Exemplar REITail Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Exemplar REITail's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Exemplar REITail'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 32.58% mean?
Exemplar REITail (JSE:EXP) has a Return-on-Tangible-Equity of 32.58% 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 Exemplar REITail and its competitors. This is 54% above median its historical median of 21.09. Over the past decade, Exemplar REITail's Return-on-Tangible-Equity has ranged from 6.40 to 23.90. According to the industry distribution chart, Exemplar REITail ranks #47 out of 933 companies in the REITs industry, placing it in the top 5%.
Is Exemplar REITail's Return-on-Tangible-Equity too high?
Exemplar REITail's current Return-on-Tangible-Equity of 32.58% is 54% above median its 10-year median of 21.09. Over the past 10 years, this metric has ranged from a low of 6.40 to a high of 23.90. The REITs industry median Return-on-Tangible-Equity is 6.26. Exemplar REITail's value of 32.58% is 420.4% above this industry median. Based on the distribution chart, Exemplar REITail ranks #47 out of 933 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Exemplar REITail has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Exemplar REITail's Return-on-Tangible-Equity compare to SPG and O?
According to the REITs industry distribution chart, Exemplar REITail ranks #47 out of 933 companies for Return-on-Tangible-Equity. This places Exemplar REITail in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.26. Exemplar REITail's value of 32.58% is 420.4% above this benchmark. Historically, Exemplar REITail's own Return-on-Tangible-Equity has ranged from 6.40 to 23.90 over the past decade. While the company's 10-year median is 21.09 vs. the industry median of 6.26, Exemplar REITail 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 6.26, based on 933 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. Exemplar REITail's current Return-on-Tangible-Equity of 32.58% is 420.4% 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 Exemplar REITail and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Exemplar REITail's current Return-on-Tangible-Equity is 32.58%, which is 54% above median its own 10-year median of 21.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exemplar REITail stock overvalued right now?
Based on GuruFocus' analysis, Exemplar REITail (JSE:EXP) is currently considered Modestly Overvalued. The stock's GF Value™ is R15.69, compared to a current price of R18.00 — trading 14.7% above its estimated fair value. The current Return-on-Tangible-Equity is 32.58%, which is 54% above median its 10-year median of 21.09 and 420.4% above the REITs industry median of 6.26. Exemplar REITail's overall GF Score™ is 73/100 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 Exemplar REITail (JSE:EXP), the current Return-on-Tangible-Equity is 32.58% 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 Exemplar REITail (JSE:EXP) Overvalued in 2026?
Based on GuruFocus' analysis, Exemplar REITail stock appears to be overvalued.
The current stock price of R18.00 is trading 14.7% above its estimated GF Value™ of R15.69.
GuruFocus considers Exemplar REITail to be Modestly Overvalued.
Key valuation signals for JSE:EXP:
Return-on-Tangible-Equity: 32.58% (54% above median its 10-year median of 21.09)
GF Value™: R15.69 vs. price of R18.00 (14.7% above fair value)
Industry Position: 420.4% above the REITs median (#47 of 933)
No single metric tells the full story. See the JSE:EXP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Exemplar REITail Ltd is a real estate investment trust which develops, owns and manages township and rural retail real estate. The company is the only fund in the country focused purely on retail in under-serviced areas that offers stakeholders investment opportunities. The company's retail segments based on geography consist of Gauteng, Mpumalanga, KwaZulu-Natal, Limpopo, Eastern and Western Cape.
73GF Score
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