Piquadro SpAMIL:PQ -1.77%77 Return-on-Tangible-Equity is 24.25% as of Mar. 2026, which is 74% above its 10-year median of 13.95. GuruFocus rates MIL:PQ with a GF Score™ of 77/100 and a GF Value™ of €2.21 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,012 Manufacturing - Apparel & Accessories companies, Piquadro SpA ranks better than 88.24% 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. Piquadro SpA's annualized net income for the quarter that ended in Mar. 2026 was €15.5 Mil. Piquadro SpA's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €64.1 Mil. Therefore, Piquadro SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 24.25%.
The historical rank and industry rank for Piquadro SpA's Return-on-Tangible-Equity or its related term are showing as below:
MIL:PQ'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -12.77 Med: 13.95 Max: 70.61
Current: 20.32
During the past 13 years, Piquadro SpA's highest Return-on-Tangible-Equity was 70.61%. The lowest was -12.77%. And the median was 13.95%.
MIL:PQ's Return-on-Tangible-Equity is ranked better than 88.24% of 1012
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.45
vs MIL:PQ: 20.32
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.
Piquadro SpA Return-on-Tangible-Equity Related Terms
Piquadro SpA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Piquadro 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:PQ vs NKE, DECK, ONON: Return-on-Tangible-Equity Comparison
For the Footwear & Accessories subindustry, Piquadro 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.
Piquadro SpA Return-on-Tangible-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Piquadro SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Piquadro 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 (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 24.25% mean?
Piquadro SpA (MIL:PQ) has a Return-on-Tangible-Equity of 24.25% 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 Piquadro SpA and its competitors. This is 74% above median its historical median of 13.95. According to the industry distribution chart, Piquadro SpA ranks #119 out of 1012 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 11.8%.
Is Piquadro SpA's Return-on-Tangible-Equity too high?
Piquadro SpA's current Return-on-Tangible-Equity of 24.25% is 74% above median its 10-year median of 13.95. The Manufacturing - Apparel & Accessories industry median Return-on-Tangible-Equity is 4.45. Piquadro SpA's value of 24.25% is 444.9% above this industry median. Based on the distribution chart, Piquadro SpA ranks #119 out of 1012 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Piquadro SpA has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Piquadro SpA's Return-on-Tangible-Equity compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Piquadro SpA ranks #119 out of 1012 companies for Return-on-Tangible-Equity. This places Piquadro SpA in the top 12% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 4.45. Piquadro SpA's value of 24.25% is 444.9% above this benchmark. While the company's 10-year median is 13.95 vs. the industry median of 4.45, Piquadro 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 Manufacturing - Apparel & Accessories company?
The median Return-on-Tangible-Equity among Manufacturing - Apparel & Accessories companies is 4.45, based on 1,012 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. Piquadro SpA's current Return-on-Tangible-Equity of 24.25% is 444.9% 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 Piquadro SpA and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Return-on-Tangible-Equity is 4.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Piquadro SpA's current Return-on-Tangible-Equity is 24.25%, which is 74% above median its own 10-year median of 13.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Piquadro SpA stock overvalued right now?
Based on GuruFocus' analysis, Piquadro SpA (MIL:PQ) is currently considered Modestly Overvalued. The stock's GF Value™ is €2.21, compared to a current price of €2.78 — trading 25.8% above its estimated fair value. The current Return-on-Tangible-Equity is 24.25%, which is 74% above median its 10-year median of 13.95 and 444.9% above the Manufacturing - Apparel & Accessories industry median of 4.45. Piquadro SpA's overall GF Score™ is 77/100 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 Piquadro SpA (MIL:PQ), the current Return-on-Tangible-Equity is 24.25% 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 Piquadro SpA (MIL:PQ) Overvalued in 2026?
Based on GuruFocus' analysis, Piquadro SpA stock appears to be overvalued.
The current stock price of €2.78 is trading 25.8% above its estimated GF Value™ of €2.21.
GuruFocus considers Piquadro SpA to be Modestly Overvalued.
Key valuation signals for MIL:PQ:
Return-on-Tangible-Equity: 24.25% (74% above median its 10-year median of 13.95)
GF Value™: €2.21 vs. price of €2.78 (25.8% above fair value)
Industry Position: 444.9% above the Manufacturing - Apparel & Accessories median (#119 of 1012)
No single metric tells the full story. See the MIL:PQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Piquadro SpA operates in the leather goods market. It is engaged in the design, manufacturing, and marketing of leather goods. The company's product portfolio includes bags and briefcases, women's purses, small leather articles such as wallets, billfolds, key holders, etc., sneakers, jackets, and others. The products are marketed through Piquadro, The Bridge, and Lancel brands which are also the company's reportable segments. Maximum revenue is generated from the Piquadro segment. Geographically, the company derives maximum revenue from Europe (excluding Italy) followed by Italy, and other regions.
77GF Score
Get the complete analysis for MIL:PQ
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:PQ has been successfully added to your 
