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. National Gas CoOG's annualized net income for the quarter that ended in Dec. 2025 was ر.ع-1.46 Mil. National Gas CoOG's average shareholder tangible equity for the quarter that ended in Dec. 2025 was ر.ع10.89 Mil. Therefore, National Gas CoOG's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -13.45%.
The historical rank and industry rank for National Gas CoOG's Return-on-Tangible-Equity or its related term are showing as below:
MUS:NGCI'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -13.66 Med: 2.08 Max: 32.01
Current: -7.06
During the past 13 years, National Gas CoOG's highest Return-on-Tangible-Equity was 32.01%. The lowest was -13.66%. And the median was 2.08%.
MUS:NGCI's Return-on-Tangible-Equity is ranked worse than 93.75% of 496
companies
in the Utilities - Regulated industry
Industry Median: 10.935
vs MUS:NGCI: -7.06
National Gas CoOG (MUS:NGCI) 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.
National Gas CoOG Return-on-Tangible-Equity Related Terms
National Gas CoOG Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for National Gas CoOG'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.
MUS:NGCI vs ATO, NI, UGI: Return-on-Tangible-Equity Comparison
For the Utilities - Regulated Gas subindustry, National Gas CoOG'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.
National Gas CoOG Return-on-Tangible-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Gas CoOG's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where National Gas CoOG'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 (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 -13.45% mean?
National Gas CoOG (MUS:NGCI) has a Return-on-Tangible-Equity of -13.45% 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 National Gas CoOG and its competitors. According to the industry distribution chart, National Gas CoOG ranks #465 out of 496 companies in the Utilities - Regulated industry, placing it in the top 93.7%.
Is National Gas CoOG's Return-on-Tangible-Equity too high?
National Gas CoOG's current Return-on-Tangible-Equity is -13.45%. Based on the distribution chart, National Gas CoOG ranks #465 out of 496 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, National Gas CoOG has a GF Score™ of 34/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Gas CoOG's Return-on-Tangible-Equity compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, National Gas CoOG ranks #465 out of 496 companies for Return-on-Tangible-Equity. This places National Gas CoOG in the lower half of its industry. The industry median Return-on-Tangible-Equity is 10.94. 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 - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.94, based on 496 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. 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 National Gas CoOG and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Gas CoOG's current Return-on-Tangible-Equity is -13.45%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Gas CoOG stock overvalued right now?
Based on GuruFocus' analysis, National Gas CoOG (MUS:NGCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.09, compared to a current price of ر.ع0.11 — trading 22.2% above its estimated fair value. The current Return-on-Tangible-Equity is -13.45%. National Gas CoOG's overall GF Score™ is 34/100 with 9 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 National Gas CoOG (MUS:NGCI), the current Return-on-Tangible-Equity is -13.45% 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 National Gas CoOG (MUS:NGCI) Overvalued in 2026?
Based on GuruFocus' analysis, National Gas CoOG stock appears to be overvalued.
The current stock price of ر.ع0.11 is trading 22.2% above its estimated GF Value™ of ر.ع0.09.
GuruFocus considers National Gas CoOG to be Modestly Overvalued.
Key valuation signals for MUS:NGCI:
Return-on-Tangible-Equity: -13.45%
GF Value™: ر.ع0.09 vs. price of ر.ع0.11 (22.2% above fair value)
No single metric tells the full story. See the MUS:NGCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Gas Co SAOG operates as a Liquefied Petroleum Gas filling plant. The company is engaged in the marketing, selling, and distribution of LPG. The group's only business segment is the marketing and selling of LPG. It operates a large fleet of tankers to lift bulk LPG from refineries in the Sultanate to its plants where it is bottled into cylinders in safe and controlled conditions. The company has different sizes of tankers to meet customer demand and reduce distribution costs. The company has different departments for project and design which takes care of design, engineering, procurement, installation, commissioning and testing of all projects and post-sale services.
34GF Score
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