Northcoders GroupLSE:CODE 39 Return-on-Tangible-Equity is -432.97% as of Dec. 2025. GuruFocus rates LSE:CODE with a GF Score™ of 39/100 and a GF Value™ of £0.96 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 246 Education companies, Northcoders Group ranks worse than 96.34% 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. Northcoders Group's annualized net income for the quarter that ended in Dec. 2025 was £-6.20 Mil. Northcoders Group's average shareholder tangible equity for the quarter that ended in Dec. 2025 was £1.43 Mil. Therefore, Northcoders Group's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -432.97%.
The historical rank and industry rank for Northcoders Group's Return-on-Tangible-Equity or its related term are showing as below:
LSE:CODE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -223.71 Med: 13.27 Max: 450
Current: -188.86
During the past 8 years, Northcoders Group's highest Return-on-Tangible-Equity was 450.00%. The lowest was -223.71%. And the median was 13.27%.
LSE:CODE's Return-on-Tangible-Equity is ranked worse than 96.34% of 246
companies
in the Education industry
Industry Median: 11.395
vs LSE:CODE: -188.86
Northcoders Group (LSE:CODE) 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.
Northcoders Group Return-on-Tangible-Equity Related Terms
Northcoders Group Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Northcoders 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.
LSE:CODE vs EDU, TAL, LAUR: Return-on-Tangible-Equity Comparison
For the Education & Training Services subindustry, Northcoders 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.
Northcoders Group Return-on-Tangible-Equity vs Education Industry
For the Education industry and Consumer Defensive sector, Northcoders Group's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Northcoders 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 (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 -432.97% mean?
Northcoders Group (LSE:CODE) has a Return-on-Tangible-Equity of -432.97% 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 Northcoders Group and its competitors. According to the industry distribution chart, Northcoders Group ranks #237 out of 246 companies in the Education industry, placing it in the top 96.3%.
Is Northcoders Group's Return-on-Tangible-Equity too high?
Northcoders Group's current Return-on-Tangible-Equity is -432.97%. Based on the distribution chart, Northcoders Group ranks #237 out of 246 companies in the Education industry, which is in the bottom quartile relative to peers. Overall, Northcoders Group has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northcoders Group's Return-on-Tangible-Equity compare to EDU and TAL?
According to the Education industry distribution chart, Northcoders Group ranks #237 out of 246 companies for Return-on-Tangible-Equity. This places Northcoders Group in the lower half of its industry. The industry median Return-on-Tangible-Equity is 11.40. 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 Education company?
The median Return-on-Tangible-Equity among Education companies is 11.40, based on 246 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 Northcoders Group and its competitors. For the Education industry, the median Return-on-Tangible-Equity is 11.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northcoders Group's current Return-on-Tangible-Equity is -432.97%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northcoders Group stock overvalued right now?
Based on GuruFocus' analysis, Northcoders Group (LSE:CODE) is currently considered Possible Value Trap. The stock's GF Value™ is £0.96, compared to a current price of £0.26 — trading 73.4% below its estimated fair value. The current Return-on-Tangible-Equity is -432.97%. Northcoders Group's overall GF Score™ is 39/100 with 7 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 Northcoders Group (LSE:CODE), the current Return-on-Tangible-Equity is -432.97% 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 Northcoders Group (LSE:CODE) Overvalued in 2026?
Based on GuruFocus' analysis, Northcoders Group stock appears to be undervalued.
The current stock price of £0.26 is trading 73.4% below its estimated GF Value™ of £0.96.
GuruFocus considers Northcoders Group to be Possible Value Trap.
Key valuation signals for LSE:CODE:
Return-on-Tangible-Equity: -432.97%
GF Value™: £0.96 vs. price of £0.26 (73.4% below fair value)
No single metric tells the full story. See the LSE:CODE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northcoders Group PLC is an independent provider of training programs for software coding. It offers a range of training and software development solutions to individual and corporate customers. Its offering includes bootcamp training courses, government-funded apprenticeships, bespoke training courses, and software development solutions.
39GF Score
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