Spar GroupJSE:SPP -4.02%52 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.98 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 300 Retail - Defensive companies, Spar Group ranks worse than 100% 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. Spar Group's annualized net income for the quarter that ended in Mar. 2026 was R295 Mil. Spar Group's average shareholder tangible equity for the quarter that ended in Mar. 2026 was R-1,105 Mil. Therefore, Spar Group's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for Spar Group's Return-on-Tangible-Equity or its related term are showing as below:
JSE:SPP'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -880.32 Med: 94.11 Max: 217.83
Current: -880.32
During the past 13 years, Spar Group's highest Return-on-Tangible-Equity was 217.83%. The lowest was -880.32%. And the median was 94.11%.
JSE:SPP's Return-on-Tangible-Equity is ranked worse than 100% of 300
companies
in the Retail - Defensive industry
Industry Median: 10.975
vs JSE:SPP: -880.32
Spar Group (JSE:SPP) 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.
Spar Group Return-on-Tangible-Equity Related Terms
Spar Group Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Spar 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:SPP vs SYY, USFD, PFGC: Return-on-Tangible-Equity Comparison
For the Food Distribution subindustry, Spar 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.
Spar Group Return-on-Tangible-Equity vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Spar 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 Negative Tangible Equity% mean?
Spar Group (JSE:SPP) has a Return-on-Tangible-Equity of Negative Tangible Equity% 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 Spar Group and its competitors. According to the industry distribution chart, Spar Group ranks #300 out of 300 companies in the Retail - Defensive industry.
Is Spar Group's Return-on-Tangible-Equity too high?
Spar Group's current Return-on-Tangible-Equity is Negative Tangible Equity%. Based on the distribution chart, Spar Group ranks #300 out of 300 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Spar Group has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spar Group's Return-on-Tangible-Equity compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #300 out of 300 companies for Return-on-Tangible-Equity. This places Spar Group in the lower half of its industry. The industry median Return-on-Tangible-Equity is 10.98. 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 - Defensive company?
The median Return-on-Tangible-Equity among Retail - Defensive companies is 10.98, based on 300 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. 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 Spar Group and its competitors. For the Retail - Defensive industry, the median Return-on-Tangible-Equity is 10.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current Return-on-Tangible-Equity is Negative Tangible Equity%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spar Group stock overvalued right now?
Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.98, compared to a current price of R47.51 — trading 56% below its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. Spar Group's overall GF Score™ is 52/100 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 Spar Group (JSE:SPP), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R47.51 is trading 56% below its estimated GF Value™ of R107.98.
GuruFocus considers Spar Group to be Significantly Undervalued.
No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.
52GF Score
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