Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
FOPE SpAMIL:FPE +6.87%92 Return-on-Tangible-Equity is 23.48% as of Dec. 2025, which is 8% below its 10-year median of 25.46. GuruFocus rates MIL:FPE with a GF Score™ of 92/100 and a GF Value™ of €45.03 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,060 Retail - Cyclical companies, FOPE SpA ranks better than 76.42% 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. FOPE SpA's annualized net income for the quarter that ended in Dec. 2025 was €11.55 Mil. FOPE SpA's average shareholder tangible equity for the quarter that ended in Dec. 2025 was €49.20 Mil. Therefore, FOPE SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 23.48%.
The historical rank and industry rank for FOPE SpA's Return-on-Tangible-Equity or its related term are showing as below:
MIL:FPE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 9.47 Med: 25.46 Max: 40.46
Current: 24.3
During the past 11 years, FOPE SpA's highest Return-on-Tangible-Equity was 40.46%. The lowest was 9.47%. And the median was 25.46%.
MIL:FPE's Return-on-Tangible-Equity is ranked better than 76.42% of 1060
companies
in the Retail - Cyclical industry
Industry Median: 8.34
vs MIL:FPE: 24.30
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.
FOPE SpA Return-on-Tangible-Equity Related Terms
FOPE SpA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for FOPE 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:FPE vs TPR, SIG, CPRI: Return-on-Tangible-Equity Comparison
For the Luxury Goods subindustry, FOPE 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.
FOPE SpA Return-on-Tangible-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, FOPE SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where FOPE 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 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 23.48% mean?
FOPE SpA (MIL:FPE) has a Return-on-Tangible-Equity of 23.48% 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 FOPE SpA and its competitors. This is near median its historical median of 25.46. Over the past decade, FOPE SpA's Return-on-Tangible-Equity has ranged from 9.47 to 40.46. According to the industry distribution chart, FOPE SpA ranks #250 out of 1060 companies in the Retail - Cyclical industry, placing it in the top 23.6%.
Is FOPE SpA's Return-on-Tangible-Equity too high?
FOPE SpA's current Return-on-Tangible-Equity of 23.48% is near median its 10-year median of 25.46. Over the past 10 years, this metric has ranged from a low of 9.47 to a high of 40.46. The Retail - Cyclical industry median Return-on-Tangible-Equity is 8.34. FOPE SpA's value of 23.48% is 181.5% above this industry median. Based on the distribution chart, FOPE SpA ranks #250 out of 1060 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, FOPE SpA has a GF Score™ of 92/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does FOPE SpA's Return-on-Tangible-Equity compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, FOPE SpA ranks #250 out of 1060 companies for Return-on-Tangible-Equity. This places FOPE SpA in the top 24% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.34. FOPE SpA's value of 23.48% is 181.5% above this benchmark. Historically, FOPE SpA's own Return-on-Tangible-Equity has ranged from 9.47 to 40.46 over the past decade. While the company's 10-year median is 25.46 vs. the industry median of 8.34, FOPE 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 Retail - Cyclical company?
The median Return-on-Tangible-Equity among Retail - Cyclical companies is 8.34, based on 1,060 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. FOPE SpA's current Return-on-Tangible-Equity of 23.48% is 181.5% 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 FOPE SpA and its competitors. For the Retail - Cyclical industry, the median Return-on-Tangible-Equity is 8.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FOPE SpA's current Return-on-Tangible-Equity is 23.48%, which is near median its own 10-year median of 25.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FOPE SpA stock overvalued right now?
Based on GuruFocus' analysis, FOPE SpA (MIL:FPE) is currently considered Significantly Overvalued. The stock's GF Value™ is €45.03, compared to a current price of €70.00 — trading 55.5% above its estimated fair value. The current Return-on-Tangible-Equity is 23.48%, which is near median its 10-year median of 25.46 and 181.5% above the Retail - Cyclical industry median of 8.34. FOPE SpA's overall GF Score™ is 92/100 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 FOPE SpA (MIL:FPE), the current Return-on-Tangible-Equity is 23.48% 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 FOPE SpA (MIL:FPE) Overvalued in 2026?
Based on GuruFocus' analysis, FOPE SpA stock appears to be overvalued.
The current stock price of €70.00 is trading 55.5% above its estimated GF Value™ of €45.03.
GuruFocus considers FOPE SpA to be Significantly Overvalued.
Key valuation signals for MIL:FPE:
Return-on-Tangible-Equity: 23.48% (near median its 10-year median of 25.46)
GF Value™: €45.03 vs. price of €70.00 (55.5% above fair value)
Industry Position: 181.5% above the Retail - Cyclical median (#250 of 1060)
No single metric tells the full story. See the MIL:FPE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FOPE SpA is an Italy-based company engaged in the fashion industry. The Company designs, manufactures and markets jewelry. Its product's portfolio encompasses bracelets, necklaces, rings, earrings. The Company sells its products through jewelers from Europe and the United States to The United Arab Emirates, South Africa and Hong Kong.
92GF Score
Get the complete analysis for MIL:FPE
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MIL:FPE has been successfully added to your 
