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KAL GroupJSE:KAL 93 Return-on-Tangible-Equity is 39.26% as of Mar. 2026, which is 111% above its 10-year median of 18.60. GuruFocus rates JSE:KAL with a GF Score™ of 93/100 and a GF Value™ of R43.66 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,065 Retail - Cyclical companies, KAL Group ranks better than 77.56% 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. KAL Group's annualized net income for the quarter that ended in Mar. 2026 was R726 Mil. KAL Group's average shareholder tangible equity for the quarter that ended in Mar. 2026 was R1,849 Mil. Therefore, KAL Group's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 39.26%.
The historical rank and industry rank for KAL Group's Return-on-Tangible-Equity or its related term are showing as below:
JSE:KAL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 16.12 Med: 18.6 Max: 34.97
Current: 26.78
During the past 12 years, KAL Group's highest Return-on-Tangible-Equity was 34.97%. The lowest was 16.12%. And the median was 18.60%.
JSE:KAL's Return-on-Tangible-Equity is ranked better than 77.56% of 1065
companies
in the Retail - Cyclical industry
Industry Median: 8.48
vs JSE:KAL: 26.78
KAL Group (JSE:KAL) 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.
KAL Group Return-on-Tangible-Equity Related Terms
KAL Group Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for KAL Group'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:KAL vs CASY, WSM, ULTA: Return-on-Tangible-Equity Comparison
For the Specialty Retail subindustry, KAL Group'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.
KAL Group Return-on-Tangible-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, KAL Group's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where KAL Group'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 39.26% mean?
KAL Group (JSE:KAL) has a Return-on-Tangible-Equity of 39.26% 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 KAL Group and its competitors. This is 111% above median its historical median of 18.60. Over the past decade, KAL Group's Return-on-Tangible-Equity has ranged from 16.12 to 34.97. According to the industry distribution chart, KAL Group ranks #239 out of 1065 companies in the Retail - Cyclical industry, placing it in the top 22.4%.
Is KAL Group's Return-on-Tangible-Equity too high?
KAL Group's current Return-on-Tangible-Equity of 39.26% is 111% above median its 10-year median of 18.60. Over the past 10 years, this metric has ranged from a low of 16.12 to a high of 34.97. The Retail - Cyclical industry median Return-on-Tangible-Equity is 8.48. KAL Group's value of 39.26% is 363% above this industry median. Based on the distribution chart, KAL Group ranks #239 out of 1065 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, KAL Group has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KAL Group's Return-on-Tangible-Equity compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, KAL Group ranks #239 out of 1065 companies for Return-on-Tangible-Equity. This places KAL Group in the top 22% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.48. KAL Group's value of 39.26% is 363% above this benchmark. Historically, KAL Group's own Return-on-Tangible-Equity has ranged from 16.12 to 34.97 over the past decade. While the company's 10-year median is 18.60 vs. the industry median of 8.48, KAL Group 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 Retail - Cyclical company?
The median Return-on-Tangible-Equity among Retail - Cyclical companies is 8.48, based on 1,065 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. KAL Group's current Return-on-Tangible-Equity of 39.26% is 363% 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 KAL Group and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Equity is 8.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KAL Group's current Return-on-Tangible-Equity is 39.26%, which is 111% above median its own 10-year median of 18.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KAL Group stock overvalued right now?
Based on GuruFocus' analysis, KAL Group (JSE:KAL) is currently considered Modestly Overvalued. The stock's GF Value™ is R43.66, compared to a current price of R50.00 — trading 14.5% above its estimated fair value. The current Return-on-Tangible-Equity is 39.26%, which is 111% above median its 10-year median of 18.60 and 363% above the Retail - Cyclical industry median of 8.48. KAL Group's overall GF Score™ is 93/100 with 5 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 KAL Group (JSE:KAL), the current Return-on-Tangible-Equity is 39.26% 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 KAL Group (JSE:KAL) Overvalued in 2026?
Based on GuruFocus' analysis, KAL Group stock appears to be overvalued.
The current stock price of R50.00 is trading 14.5% above its estimated GF Value™ of R43.66.
GuruFocus considers KAL Group to be Modestly Overvalued.
Key valuation signals for JSE:KAL:
Return-on-Tangible-Equity: 39.26% (111% above median its 10-year median of 18.60)
GF Value™: R43.66 vs. price of R50.00 (14.5% above fair value)
Industry Position: 363% above the Retail - Cyclical median (#239 of 1065)
No single metric tells the full story. See the JSE:KAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KAL Group Ltd is a lifestyle retailer offering agricultural inputs, fuel (farm and retail), and general and convenience retail products to consumers across Southern Africa. Its segments include Agrimark, PEG, Agrimark Grain and Manufacturing. The majority of the company's revenue is derived from the PEG segment, which operates retail fuel outlets, including convenience stores and quick-service restaurant locations, serving a broad customer base. Geographically, it generates the maximum revenue from South Africa and the rest from Namibia.
93GF Score
Get the complete analysis for JSE:KAL
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