NICO HoldingsMSW:NICO -0.27%57 Return-on-Tangible-Equity is 59.43% as of Dec. 2025, which is 20% above its 10-year median of 49.37. GuruFocus rates MSW:NICO with a GF Score™ of 57/100 and a GF Value™ of MWK731.54 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 500 Insurance companies, NICO Holdings ranks better than 93.4% 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. NICO Holdings's annualized net income for the quarter that ended in Dec. 2025 was MWK167,833 Mil. NICO Holdings's average shareholder tangible equity for the quarter that ended in Dec. 2025 was MWK282,403 Mil. Therefore, NICO Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 59.43%.
The historical rank and industry rank for NICO Holdings's Return-on-Tangible-Equity or its related term are showing as below:
MSW:NICO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 23.38 Med: 49.37 Max: 120.52
Current: 59.43
During the past 5 years, NICO Holdings's highest Return-on-Tangible-Equity was 120.52%. The lowest was 23.38%. And the median was 49.37%.
MSW:NICO's Return-on-Tangible-Equity is ranked better than 93.4% of 500
companies
in the Insurance industry
Industry Median: 13.515
vs MSW:NICO: 59.43
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.
NICO Holdings Return-on-Tangible-Equity Related Terms
NICO Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for NICO Holdings'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.
NICO Holdings Return-on-Tangible-Equity Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
Return-on-Tangible-Equity
0.00
23.38
39.31
120.52
59.43
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
Return-on-Tangible-Equity
0.00
23.38
39.31
120.52
59.43
MSW:NICO vs BRK.A, AIG, HIG: Return-on-Tangible-Equity Comparison
For the Insurance - Diversified subindustry, NICO Holdings'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.
NICO Holdings Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where NICO Holdings'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 one times the 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 59.43% mean?
NICO Holdings (MSW:NICO) has a Return-on-Tangible-Equity of 59.43% 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 NICO Holdings and its competitors. This is 20% above median its historical median of 49.37. Over the past decade, NICO Holdings' Return-on-Tangible-Equity has ranged from 23.38 to 120.52. According to the industry distribution chart, NICO Holdings ranks #33 out of 500 companies in the Insurance industry, placing it in the top 6.6%.
Is NICO Holdings' Return-on-Tangible-Equity too high?
NICO Holdings' current Return-on-Tangible-Equity of 59.43% is 20% above median its 10-year median of 49.37. Over the past 10 years, this metric has ranged from a low of 23.38 to a high of 120.52. The Insurance industry median Return-on-Tangible-Equity is 13.52. NICO Holdings' value of 59.43% is 339.7% above this industry median. Based on the distribution chart, NICO Holdings ranks #33 out of 500 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, NICO Holdings has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' Return-on-Tangible-Equity compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #33 out of 500 companies for Return-on-Tangible-Equity. This places NICO Holdings in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 13.52. NICO Holdings' value of 59.43% is 339.7% above this benchmark. Historically, NICO Holdings' own Return-on-Tangible-Equity has ranged from 23.38 to 120.52 over the past decade. While the company's 10-year median is 49.37 vs. the industry median of 13.52, NICO Holdings 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 an Insurance company?
The median Return-on-Tangible-Equity among Insurance companies is 13.52, based on 500 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. NICO Holdings's current Return-on-Tangible-Equity of 59.43% is 339.7% 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 NICO Holdings and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current Return-on-Tangible-Equity is 59.43%, which is 20% above median its own 10-year median of 49.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Significantly Overvalued. The stock's GF Value™ is MWK731.54, compared to a current price of MWK1,584.05 — trading 116.5% above its estimated fair value. The current Return-on-Tangible-Equity is 59.43%, which is 20% above median its 10-year median of 49.37 and 339.7% above the Insurance industry median of 13.52. NICO Holdings' overall GF Score™ is 57/100 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 NICO Holdings (MSW:NICO), the current Return-on-Tangible-Equity is 59.43% 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,584.05 is trading 116.5% above its estimated GF Value™ of MWK731.54.
GuruFocus considers NICO Holdings to be Significantly Overvalued.
Key valuation signals for MSW:NICO:
Return-on-Tangible-Equity: 59.43% (20% above median its 10-year median of 49.37)
GF Value™: MWK731.54 vs. price of MWK1,584.05 (116.5% above fair value)
Industry Position: 339.7% above the Insurance median (#33 of 500)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
57GF Score
Get the complete analysis for MSW:NICO
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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