Frendy Energy SpAMIL:FRE 28 Return-on-Tangible-Equity is 0.75% as of Dec. 2025, which is 200% above its 10-year median of 0.25. GuruFocus rates MIL:FRE with a GF Score™ of 28/100 and a GF Value™ of €0.22 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 426 Utilities - Independent Power Producers companies, Frendy Energy SpA ranks worse than 66.2% 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. Frendy Energy SpA's annualized net income for the quarter that ended in Dec. 2025 was €0.08 Mil. Frendy Energy SpA's average shareholder tangible equity for the quarter that ended in Dec. 2025 was €10.98 Mil. Therefore, Frendy Energy SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 0.75%.
The historical rank and industry rank for Frendy Energy SpA's Return-on-Tangible-Equity or its related term are showing as below:
MIL:FRE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -29.21 Med: 0.25 Max: 3.89
Current: 0.47
During the past 13 years, Frendy Energy SpA's highest Return-on-Tangible-Equity was 3.89%. The lowest was -29.21%. And the median was 0.25%.
MIL:FRE's Return-on-Tangible-Equity is ranked worse than 66.2% of 426
companies
in the Utilities - Independent Power Producers industry
Industry Median: 4.85
vs MIL:FRE: 0.47
Frendy Energy SpA (MIL:FRE) 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.
Frendy Energy SpA Return-on-Tangible-Equity Related Terms
Frendy Energy SpA Return-on-Tangible-Equity Historical Data
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The historical data trend for Frendy Energy 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.
Frendy Energy SpA Return-on-Tangible-Equity Competitor Comparison
For the Utilities - Renewable subindustry, Frendy Energy 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.
Frendy Energy SpA Return-on-Tangible-Equity vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Frendy Energy SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Frendy Energy 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 0.75% mean?
Frendy Energy SpA (MIL:FRE) has a Return-on-Tangible-Equity of 0.75% 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 Frendy Energy SpA and its competitors. This is 200% above median its historical median of 0.25. According to the industry distribution chart, Frendy Energy SpA ranks #282 out of 426 companies in the Utilities - Independent Power Producers industry, placing it in the top 66.2%.
Is Frendy Energy SpA's Return-on-Tangible-Equity too high?
Frendy Energy SpA's current Return-on-Tangible-Equity of 0.75% is 200% above median its 10-year median of 0.25. The Utilities - Independent Power Producers industry median Return-on-Tangible-Equity is 4.85. Frendy Energy SpA's value of 0.75% is 84.5% below this industry median. Based on the distribution chart, Frendy Energy SpA ranks #282 out of 426 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Frendy Energy SpA has a GF Score™ of 28/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Frendy Energy SpA's Return-on-Tangible-Equity compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Frendy Energy SpA ranks #282 out of 426 companies for Return-on-Tangible-Equity. This places Frendy Energy SpA in the lower half of its industry. The industry median Return-on-Tangible-Equity is 4.85. Frendy Energy SpA's value of 0.75% is 84.5% below this benchmark. While the company's 10-year median is 0.25 vs. the industry median of 4.85, Frendy Energy SpA 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 Utilities - Independent Power Producers company?
The median Return-on-Tangible-Equity among Utilities - Independent Power Producers companies is 4.85, based on 426 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. Frendy Energy SpA's current Return-on-Tangible-Equity of 0.75% is 84.5% 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 Frendy Energy SpA and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Equity is 4.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frendy Energy SpA's current Return-on-Tangible-Equity is 0.75%, which is 200% above median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frendy Energy SpA stock overvalued right now?
Based on GuruFocus' analysis, Frendy Energy SpA (MIL:FRE) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.22, compared to a current price of €0.19 — trading 14.5% below its estimated fair value. The current Return-on-Tangible-Equity is 0.75%, which is 200% above median its 10-year median of 0.25 and 84.5% below the Utilities - Independent Power Producers industry median of 4.85. Frendy Energy SpA's overall GF Score™ is 28/100 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 Frendy Energy SpA (MIL:FRE), the current Return-on-Tangible-Equity is 0.75% 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 Frendy Energy SpA (MIL:FRE) Overvalued in 2026?
Based on GuruFocus' analysis, Frendy Energy SpA stock appears to be undervalued.
The current stock price of €0.19 is trading 14.5% below its estimated GF Value™ of €0.22.
GuruFocus considers Frendy Energy SpA to be Modestly Undervalued.
Key valuation signals for MIL:FRE:
Return-on-Tangible-Equity: 0.75% (200% above median its 10-year median of 0.25)
GF Value™: €0.22 vs. price of €0.19 (14.5% below fair value)
Industry Position: 84.5% below the Utilities - Independent Power Producers median (#282 of 426)
No single metric tells the full story. See the MIL:FRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Frendy Energy SpA is an Italian company. It is engaged in building and operating mini hydropower plants towards the production and sale of electricity.
28GF Score
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