Western Asset Municipal Highome FundMHF 51 Return-on-Tangible-Equity is 2.81% as of Apr. 2026, which is 19% above its 10-year median of 2.36. GuruFocus rates MHF with a GF Score™ of 51/100 and a GF Value™ of $13.27 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,588 Asset Management companies, Western Asset Municipal Highome Fund ranks worse than 56.42% on this metric.
The historical rank and industry rank for Western Asset Municipal Highome Fund's Return-on-Tangible-Equity or its related term are showing as below:
MHF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -12.96 Med: 2.36 Max: 12.01
Current: 5.36
During the past 9 years, Western Asset Municipal Highome Fund's highest Return-on-Tangible-Equity was 12.01%. The lowest was -12.96%. And the median was 2.36%.
MHF's Return-on-Tangible-Equity is ranked worse than 56.42% of 1588
companies
in the Asset Management industry
Industry Median: 7.205
vs MHF: 5.36
Western Asset Municipal Highome Fund (NYSE:MHF) 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.
Western Asset Municipal Highome Fund Return-on-Tangible-Equity Related Terms
Western Asset Municipal Highome Fund 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.
Western Asset Municipal Highome Fund Return-on-Tangible-Equity Chart
MHF vs PIM, MSD, IGA: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Western Asset Municipal Highome Fund'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.
Western Asset Municipal Highome Fund Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Western Asset Municipal Highome Fund's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Western Asset Municipal Highome Fund'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 (Apr. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 2.81% mean?
Western Asset Municipal Highome Fund (MHF) has a Return-on-Tangible-Equity of 2.81% as of Apr. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Western Asset Municipal Highome Fund and its competitors. This is 19% above median its historical median of 2.36. According to the industry distribution chart, Western Asset Municipal Highome Fund ranks #896 out of 1588 companies in the Asset Management industry, placing it in the top 56.4%.
Is Western Asset Municipal Highome Fund's Return-on-Tangible-Equity too high?
Western Asset Municipal Highome Fund's current Return-on-Tangible-Equity of 2.81% is 19% above median its 10-year median of 2.36. The Asset Management industry median Return-on-Tangible-Equity is 7.21. Western Asset Municipal Highome Fund's value of 2.81% is 61% below this industry median. Based on the distribution chart, Western Asset Municipal Highome Fund ranks #896 out of 1588 companies in the Asset Management industry, which is below the industry midpoint. Overall, Western Asset Municipal Highome Fund has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Western Asset Municipal Highome Fund's Return-on-Tangible-Equity compare to PIM and MSD?
According to the Asset Management industry distribution chart, Western Asset Municipal Highome Fund ranks #896 out of 1588 companies for Return-on-Tangible-Equity. This places Western Asset Municipal Highome Fund in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.21. Western Asset Municipal Highome Fund's value of 2.81% is 61% below this benchmark. While the company's 10-year median is 2.36 vs. the industry median of 7.21, Western Asset Municipal Highome Fund 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 7.21, 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. Western Asset Municipal Highome Fund's current Return-on-Tangible-Equity of 2.81% is 61% 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 Western Asset Municipal Highome Fund and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Western Asset Municipal Highome Fund's current Return-on-Tangible-Equity is 2.81%, which is 19% above median its own 10-year median of 2.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Asset Municipal Highome Fund stock overvalued right now?
Based on GuruFocus' analysis, Western Asset Municipal Highome Fund (MHF) is currently considered Significantly Undervalued. The stock's GF Value™ is $13.27, compared to a current price of $7.03 — trading 47% below its estimated fair value. The current Return-on-Tangible-Equity is 2.81%, which is 19% above median its 10-year median of 2.36 and 61% below the Asset Management industry median of 7.21. Western Asset Municipal Highome Fund's overall GF Score™ is 51/100 with 4 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 Western Asset Municipal Highome Fund (MHF), the current Return-on-Tangible-Equity is 2.81% as of Apr. 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 Western Asset Municipal Highome Fund (MHF) Overvalued in 2026?
Based on GuruFocus' analysis, Western Asset Municipal Highome Fund stock appears to be undervalued.
The current stock price of $7.03 is trading 47% below its estimated GF Value™ of $13.27.
GuruFocus considers Western Asset Municipal Highome Fund to be Significantly Undervalued.
Key valuation signals for MHF:
Return-on-Tangible-Equity: 2.81% (19% above median its 10-year median of 2.36)
GF Value™: $13.27 vs. price of $7.03 (47% below fair value)
Industry Position: 61% below the Asset Management median (#896 of 1588)
No single metric tells the full story. See the MHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Western Asset Municipal Highome Fund Business Description
Western Asset Municipal High Income Fund Inc is a diversified closed-end management investment company. The company's objective is to seek high current income exempt from federal income taxes. It invests predominantly in intermediate and long-term municipal debt securities issued by state and local governments.
51GF Score
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