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ANA HoldingsLTS:0Q09 81 Return-on-Tangible-Equity is 8.91% as of Mar. 2026, which is 30% below its 10-year median of 12.65. GuruFocus rates LTS:0Q09 with a GF Score™ of 81/100 and a GF Value™ of CHF26.26. The stock has 2 warning signs investors should review. Among 978 Transportation companies, ANA Holdings ranks better than 69.94% 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. ANA Holdings's annualized net income for the quarter that ended in Mar. 2026 was CHF592 Mil. ANA Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was CHF6,650 Mil. Therefore, ANA Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 8.91%.
The historical rank and industry rank for ANA Holdings's Return-on-Tangible-Equity or its related term are showing as below:
LTS:0Q09'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -44.16 Med: 12.65 Max: 18.32
Current: 14.94
During the past 13 years, ANA Holdings's highest Return-on-Tangible-Equity was 18.32%. The lowest was -44.16%. And the median was 12.65%.
LTS:0Q09's Return-on-Tangible-Equity is ranked better than 69.94% of 978
companies
in the Transportation industry
Industry Median: 8.995
vs LTS:0Q09: 14.94
ANA Holdings (LTS:0Q09) 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.
ANA Holdings Return-on-Tangible-Equity Related Terms
ANA Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for ANA Holdings'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.
LTS:0Q09 vs DAL, UAL, LUV: Return-on-Tangible-Equity Comparison
For the Airlines subindustry, ANA Holdings'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.
ANA Holdings Return-on-Tangible-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, ANA Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where ANA Holdings'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 four times the quarterly (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 8.91% mean?
ANA Holdings (LTS:0Q09) has a Return-on-Tangible-Equity of 8.91% 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 ANA Holdings and its competitors. This is 30% below median its historical median of 12.65. According to the industry distribution chart, ANA Holdings ranks #294 out of 978 companies in the Transportation industry, placing it in the top 30.1%.
Is ANA Holdings' Return-on-Tangible-Equity too high?
ANA Holdings' current Return-on-Tangible-Equity of 8.91% is 30% below median its 10-year median of 12.65. The Transportation industry median Return-on-Tangible-Equity is 9.00. ANA Holdings' value of 8.91% is 0.9% below this industry median. Based on the distribution chart, ANA Holdings ranks #294 out of 978 companies in the Transportation industry, which is above the industry midpoint. Overall, ANA Holdings has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does ANA Holdings' Return-on-Tangible-Equity compare to DAL and UAL?
According to the Transportation industry distribution chart, ANA Holdings ranks #294 out of 978 companies for Return-on-Tangible-Equity. This puts ANA Holdings in the upper half of its industry. The industry median Return-on-Tangible-Equity is 9.00. ANA Holdings' value of 8.91% is 0.9% below this benchmark. While the company's 10-year median is 12.65 vs. the industry median of 9.00, ANA Holdings 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 a Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 9.00, based on 978 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. ANA Holdings's current Return-on-Tangible-Equity of 8.91% is 0.9% 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 ANA Holdings and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 9.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ANA Holdings's current Return-on-Tangible-Equity is 8.91%, which is 30% below median its own 10-year median of 12.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ANA Holdings stock overvalued right now?
ANA Holdings (LTS:0Q09) has a current Return-on-Tangible-Equity of 8.91%. The stock's GF Value™ is CHF26.26, compared to a current price of CHF23.47 — trading 10.6% below its estimated fair value. The current Return-on-Tangible-Equity is 8.91%, which is 30% below median its 10-year median of 12.65 and 0.9% below the Transportation industry median of 9.00. ANA Holdings' overall GF Score™ is 81/100 with 2 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 ANA Holdings (LTS:0Q09), the current Return-on-Tangible-Equity is 8.91% 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 ANA Holdings (LTS:0Q09) Overvalued in 2026?
Based on GuruFocus' analysis, ANA Holdings stock appears to be undervalued.
The current stock price of CHF23.47 is trading 10.6% below its estimated GF Value™ of CHF26.26.
Key valuation signals for LTS:0Q09:
Return-on-Tangible-Equity: 8.91% (30% below median its 10-year median of 12.65)
GF Value™: CHF26.26 vs. price of CHF23.47 (10.6% below fair value)
Industry Position: 0.9% below the Transportation median (#294 of 978)
No single metric tells the full story. See the LTS:0Q09 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ANA Holdings is the holding firm of Japan's largest airline, All Nippon Airways. Besides the flagship carrier, ANA also owns discount airline Peach Aviation, Hokkaido-based Air Do, and airfreight carrier Nippon Cargo Airlines. Air Japan, which was launched to provide discount flights to Southeast Asia, will cease in 2026. Prior to covid-19, passenger transport made up over 50% of group revenue, split almost equally between domestic and international passenger routes while cargo revenue made up 4%-5%. Its primary hub is Tokyo's Narita International Airport, but it is also expanding routes from Haneda Airport. ANA has minor stakes in Philippine Airlines, Vietnam Airlines, and IHG ANA Hotels Group Japan. The latter is a hotel chain in Japan owned and operated by InterContinental Hotels Group.
81GF Score
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