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. Metalpha Technology Holding's annualized net income for the quarter that ended in Sep. 2025 was $-5.77 Mil. Metalpha Technology Holding's average shareholder tangible equity for the quarter that ended in Sep. 2025 was $35.81 Mil. Therefore, Metalpha Technology Holding's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2025 was -16.11%.
The historical rank and industry rank for Metalpha Technology Holding's Return-on-Tangible-Equity or its related term are showing as below:
MATH'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -192.24 Med: -13.07 Max: 108.65
Current: 21.55
During the past 11 years, Metalpha Technology Holding's highest Return-on-Tangible-Equity was 108.65%. The lowest was -192.24%. And the median was -13.07%.
MATH's Return-on-Tangible-Equity is ranked better than 77.27% of 783
companies
in the Capital Markets industry
Industry Median: 6.45
vs MATH: 21.55
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.
Metalpha Technology Holding Return-on-Tangible-Equity Related Terms
Metalpha Technology Holding Return-on-Tangible-Equity Historical Data
* 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.
MATH vs HGBL, GSIW, PLUT: Return-on-Tangible-Equity Comparison
For the Capital Markets subindustry, Metalpha Technology Holding'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.
Metalpha Technology Holding Return-on-Tangible-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Metalpha Technology Holding's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Metalpha Technology Holding'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 (Sep. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -16.11% mean?
Metalpha Technology Holding (MATH) has a Return-on-Tangible-Equity of -16.11% as of Sep. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Metalpha Technology Holding and its competitors. According to the industry distribution chart, Metalpha Technology Holding ranks #178 out of 783 companies in the Capital Markets industry, placing it in the top 22.7%.
Is Metalpha Technology Holding's Return-on-Tangible-Equity too high?
Metalpha Technology Holding's current Return-on-Tangible-Equity is -16.11%. Based on the distribution chart, Metalpha Technology Holding ranks #178 out of 783 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Metalpha Technology Holding has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Metalpha Technology Holding's Return-on-Tangible-Equity compare to HGBL and GSIW?
According to the Capital Markets industry distribution chart, Metalpha Technology Holding ranks #178 out of 783 companies for Return-on-Tangible-Equity. This places Metalpha Technology Holding in the top 23% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.45. 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 Capital Markets company?
The median Return-on-Tangible-Equity among Capital Markets companies is 6.45, based on 783 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 Metalpha Technology Holding and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Equity is 6.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Metalpha Technology Holding's current Return-on-Tangible-Equity is -16.11%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Metalpha Technology Holding stock overvalued right now?
Based on GuruFocus' analysis, Metalpha Technology Holding (MATH) is currently considered Possible Value Trap. The stock's GF Value™ is $2.30, compared to a current price of $0.99 — trading 56.9% below its estimated fair value. The current Return-on-Tangible-Equity is -16.11%. Metalpha Technology Holding's overall GF Score™ is 42/100 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 Metalpha Technology Holding (MATH), the current Return-on-Tangible-Equity is -16.11% as of Sep. 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 Metalpha Technology Holding (MATH) Overvalued in 2026?
Based on GuruFocus' analysis, Metalpha Technology Holding stock appears to be undervalued.
The current stock price of $0.99 is trading 56.9% below its estimated GF Value™ of $2.30.
GuruFocus considers Metalpha Technology Holding to be Possible Value Trap.
Key valuation signals for MATH:
Return-on-Tangible-Equity: -16.11%
GF Value™: $2.30 vs. price of $0.99 (56.9% below fair value)
No single metric tells the full story. See the MATH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Metalpha Technology Holding Ltd is a digital asset focused wealth management company. The company predominantly generates revenue from the execution of cryptocurrency-related transactions, which includes the issuance of derivative products to over-the-counter (OTC) clients and its proprietary trading activities. It has partnered with a crypto exchange to provide crypto derivative market-making services for its clients, facilitating the trading of crypto derivative products. In addition, the company also engages in providing traditional financial derivative products, and asset management services. It operates in a single segment which is the trading of proprietary digital assets and derivative contracts, and generates majority of its revenue from Hong Kong.
42GF Score
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