Aberforth Smaller TrustLSE:ASL +0.48%55 Return-on-Tangible-Equity is 2.66% as of Dec. 2025, which is 64% below its 10-year median of 7.34. GuruFocus rates LSE:ASL with a GF Score™ of 55/100 and a GF Value™ of £13.48 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,588 Asset Management companies, Aberforth Smaller Trust ranks worse than 50.94% 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. Aberforth Smaller Trust's annualized net income for the quarter that ended in Dec. 2025 was £37.26 Mil. Aberforth Smaller Trust's average shareholder tangible equity for the quarter that ended in Dec. 2025 was £1,402.67 Mil. Therefore, Aberforth Smaller Trust's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 2.66%.
The historical rank and industry rank for Aberforth Smaller Trust's Return-on-Tangible-Equity or its related term are showing as below:
LSE:ASL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -17.17 Med: 7.34 Max: 28.05
Current: 6.87
During the past 13 years, Aberforth Smaller Trust's highest Return-on-Tangible-Equity was 28.05%. The lowest was -17.17%. And the median was 7.34%.
LSE:ASL's Return-on-Tangible-Equity is ranked worse than 50.94% of 1588
companies
in the Asset Management industry
Industry Median: 7.19
vs LSE:ASL: 6.87
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.
Aberforth Smaller Trust Return-on-Tangible-Equity Related Terms
Aberforth Smaller Trust Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Aberforth Smaller Trust'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.
LSE:ASL vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Aberforth Smaller Trust'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.
Aberforth Smaller Trust Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Aberforth Smaller Trust's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Aberforth Smaller Trust'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 (Dec. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 2.66% mean?
Aberforth Smaller Trust (LSE:ASL) has a Return-on-Tangible-Equity of 2.66% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Aberforth Smaller Trust and its competitors. This is 64% below median its historical median of 7.34. According to the industry distribution chart, Aberforth Smaller Trust ranks #809 out of 1588 companies in the Asset Management industry, placing it in the top 50.9%.
Is Aberforth Smaller Trust's Return-on-Tangible-Equity too high?
Aberforth Smaller Trust's current Return-on-Tangible-Equity of 2.66% is 64% below median its 10-year median of 7.34. The Asset Management industry median Return-on-Tangible-Equity is 7.19. Aberforth Smaller Trust's value of 2.66% is 63% below this industry median. Based on the distribution chart, Aberforth Smaller Trust ranks #809 out of 1588 companies in the Asset Management industry, which is below the industry midpoint. Overall, Aberforth Smaller Trust has a GF Score™ of 55/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aberforth Smaller Trust's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, Aberforth Smaller Trust ranks #809 out of 1588 companies for Return-on-Tangible-Equity. This places Aberforth Smaller Trust in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.19. Aberforth Smaller Trust's value of 2.66% is 63% below this benchmark. While the company's 10-year median is 7.34 vs. the industry median of 7.19, Aberforth Smaller Trust 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 an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.19, based on 1,588 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. Aberforth Smaller Trust's current Return-on-Tangible-Equity of 2.66% is 63% 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 Aberforth Smaller Trust and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aberforth Smaller Trust's current Return-on-Tangible-Equity is 2.66%, which is 64% below median its own 10-year median of 7.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aberforth Smaller Trust stock overvalued right now?
Based on GuruFocus' analysis, Aberforth Smaller Trust (LSE:ASL) is currently considered Modestly Overvalued. The stock's GF Value™ is £13.48, compared to a current price of £16.78 — trading 24.5% above its estimated fair value. The current Return-on-Tangible-Equity is 2.66%, which is 64% below median its 10-year median of 7.34 and 63% below the Asset Management industry median of 7.19. Aberforth Smaller Trust's overall GF Score™ is 55/100 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 Aberforth Smaller Trust (LSE:ASL), the current Return-on-Tangible-Equity is 2.66% as of Dec. 2025. 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 Aberforth Smaller Trust (LSE:ASL) Overvalued in 2026?
Based on GuruFocus' analysis, Aberforth Smaller Trust stock appears to be overvalued.
The current stock price of £16.78 is trading 24.5% above its estimated GF Value™ of £13.48.
GuruFocus considers Aberforth Smaller Trust to be Modestly Overvalued.
Key valuation signals for LSE:ASL:
Return-on-Tangible-Equity: 2.66% (64% below median its 10-year median of 7.34)
GF Value™: £13.48 vs. price of £16.78 (24.5% above fair value)
Industry Position: 63% below the Asset Management median (#809 of 1588)
No single metric tells the full story. See the LSE:ASL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aberforth Smaller Companies Trust PLC is a UK based closed-ended investment trust. Its objective is to achieve a net asset value total return (with dividends reinvested) greater than that of the Numis Smaller Companies Index (excluding Investment Companies) over the long term. The Company also aims to achieve its objective by investing in small United Kingdom quoted companies. It invests in various sectors, such as technology, telecommunications, health care, financials, real estate, consumer discretionary, consumer staples, industrials, basic materials and energy.
55GF Score
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