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Carel Industries SpAMIL:CRL +1.26%97 Return-on-Tangible-Equity is 60.06% as of Mar. 2026, which is 32% below its 10-year median of 88.57. GuruFocus rates MIL:CRL with a GF Score™ of 97/100 and a GF Value™ of €24.02 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,385 Hardware companies, Carel Industries SpA ranks better than 96.94% 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. Carel Industries SpA's annualized net income for the quarter that ended in Mar. 2026 was €73.6 Mil. Carel Industries SpA's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €122.5 Mil. Therefore, Carel Industries SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 60.06%.
The historical rank and industry rank for Carel Industries SpA's Return-on-Tangible-Equity or its related term are showing as below:
MIL:CRL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 27.27 Med: 88.57 Max: 3455.53
Current: 91.78
During the past 12 years, Carel Industries SpA's highest Return-on-Tangible-Equity was 3,455.53%. The lowest was 27.27%. And the median was 88.57%.
MIL:CRL's Return-on-Tangible-Equity is ranked better than 96.94% of 2385
companies
in the Hardware industry
Industry Median: 5.32
vs MIL:CRL: 91.78
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.
Carel Industries SpA Return-on-Tangible-Equity Related Terms
Carel Industries SpA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Carel Industries SpA'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.
MIL:CRL vs APH, GLW, TEL: Return-on-Tangible-Equity Comparison
For the Electronic Components subindustry, Carel Industries SpA'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.
Carel Industries SpA Return-on-Tangible-Equity vs Hardware Industry
For the Hardware industry and Technology sector, Carel Industries SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Carel Industries SpA'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 60.06% mean?
Carel Industries SpA (MIL:CRL) has a Return-on-Tangible-Equity of 60.06% 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 Carel Industries SpA and its competitors. This is 32% below median its historical median of 88.57. Over the past decade, Carel Industries SpA's Return-on-Tangible-Equity has ranged from 27.27 to 3,455.53. According to the industry distribution chart, Carel Industries SpA ranks #73 out of 2385 companies in the Hardware industry, placing it in the top 3.1%.
Is Carel Industries SpA's Return-on-Tangible-Equity too high?
Carel Industries SpA's current Return-on-Tangible-Equity of 60.06% is 32% below median its 10-year median of 88.57. Over the past 10 years, this metric has ranged from a low of 27.27 to a high of 3,455.53. The Hardware industry median Return-on-Tangible-Equity is 5.32. Carel Industries SpA's value of 60.06% is 1028.9% above this industry median. Based on the distribution chart, Carel Industries SpA ranks #73 out of 2385 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Carel Industries SpA has a GF Score™ of 97/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Carel Industries SpA's Return-on-Tangible-Equity compare to APH and GLW?
According to the Hardware industry distribution chart, Carel Industries SpA ranks #73 out of 2385 companies for Return-on-Tangible-Equity. This places Carel Industries SpA in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 5.32. Carel Industries SpA's value of 60.06% is 1028.9% above this benchmark. Historically, Carel Industries SpA's own Return-on-Tangible-Equity has ranged from 27.27 to 3,455.53 over the past decade. While the company's 10-year median is 88.57 vs. the industry median of 5.32, Carel Industries SpA has consistently been above 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 Hardware company?
The median Return-on-Tangible-Equity among Hardware companies is 5.32, based on 2,385 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. Carel Industries SpA's current Return-on-Tangible-Equity of 60.06% is 1028.9% above 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 Carel Industries SpA and its competitors. For the Hardware industry, the median Return-on-Tangible-Equity is 5.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carel Industries SpA's current Return-on-Tangible-Equity is 60.06%, which is 32% below median its own 10-year median of 88.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carel Industries SpA stock overvalued right now?
Based on GuruFocus' analysis, Carel Industries SpA (MIL:CRL) is currently considered Modestly Overvalued. The stock's GF Value™ is €24.02, compared to a current price of €28.05 — trading 16.8% above its estimated fair value. The current Return-on-Tangible-Equity is 60.06%, which is 32% below median its 10-year median of 88.57 and 1028.9% above the Hardware industry median of 5.32. Carel Industries SpA's overall GF Score™ is 97/100 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 Carel Industries SpA (MIL:CRL), the current Return-on-Tangible-Equity is 60.06% 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 Carel Industries SpA (MIL:CRL) Overvalued in 2026?
Based on GuruFocus' analysis, Carel Industries SpA stock appears to be overvalued.
The current stock price of €28.05 is trading 16.8% above its estimated GF Value™ of €24.02.
GuruFocus considers Carel Industries SpA to be Modestly Overvalued.
Key valuation signals for MIL:CRL:
Return-on-Tangible-Equity: 60.06% (32% below median its 10-year median of 88.57)
GF Value™: €24.02 vs. price of €28.05 (16.8% above fair value)
Industry Position: 1028.9% above the Hardware median (#73 of 2385)
No single metric tells the full story. See the MIL:CRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carel Industries SpA manufactures control systems and humidification for air conditioning and refrigeration. The group provides control solutions for the commercial, industrial, and residential air-conditioning and refrigeration (HVAC/R) markets. Its geographical segments are Europe, the Middle East and Africa, North America, South America, and APAC. The company's industrial applications for the air-conditioning sector are designed for data centers. Its products include programmable controls, room terminals, Isothermal Humidifiers, Sensors and protection devices, Sensors and protection devices, and others. The company derives maximum revenue from Europe, the Middle East, and Africa segment.
97GF Score
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