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.
Spiltan InvestNGM:SPLTN -0.22%75 Return-on-Tangible-Equity is 10.76% as of Jun. 2026, which is 170% above its 10-year median of 3.98. GuruFocus rates NGM:SPLTN with a GF Score™ of 75/100 and a GF Value™ of kr351.45 (Significantly Undervalued). Among 1,590 Asset Management companies, Spiltan Invest ranks worse than 86.54% 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. Spiltan Invest's annualized net income for the quarter that ended in Jun. 2026 was kr809.3 Mil. Spiltan Invest's average shareholder tangible equity for the quarter that ended in Jun. 2026 was kr7,524.3 Mil. Therefore, Spiltan Invest's annualized Return-on-Tangible-Equity for the quarter that ended in Jun. 2026 was 10.76%.
The historical rank and industry rank for Spiltan Invest's Return-on-Tangible-Equity or its related term are showing as below:
NGM:SPLTN'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -10.18 Med: 3.98 Max: 39.04
Current: -10.18
During the past 7 years, Spiltan Invest's highest Return-on-Tangible-Equity was 39.04%. The lowest was -10.18%. And the median was 3.98%.
NGM:SPLTN's Return-on-Tangible-Equity is ranked worse than 86.54% of 1590
companies
in the Asset Management industry
Industry Median: 7.21
vs NGM:SPLTN: -10.18
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.
Spiltan Invest Return-on-Tangible-Equity Related Terms
Spiltan Invest Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Spiltan Invest'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.
NGM:SPLTN vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Spiltan Invest'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.
Spiltan Invest Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Spiltan Invest's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Spiltan Invest'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 (Jun. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 10.76% mean?
Spiltan Invest (NGM:SPLTN) has a Return-on-Tangible-Equity of 10.76% as of Jun. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Spiltan Invest and its competitors. This is 170% above median its historical median of 3.98. According to the industry distribution chart, Spiltan Invest ranks #1376 out of 1590 companies in the Asset Management industry, placing it in the top 86.5%.
Is Spiltan Invest's Return-on-Tangible-Equity too high?
Spiltan Invest's current Return-on-Tangible-Equity of 10.76% is 170% above median its 10-year median of 3.98. The Asset Management industry median Return-on-Tangible-Equity is 7.21. Spiltan Invest's value of 10.76% is 49.2% above this industry median. Based on the distribution chart, Spiltan Invest ranks #1376 out of 1590 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Spiltan Invest has a GF Score™ of 75/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spiltan Invest's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, Spiltan Invest ranks #1376 out of 1590 companies for Return-on-Tangible-Equity. This places Spiltan Invest in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.21. Spiltan Invest's value of 10.76% is 49.2% above this benchmark. While the company's 10-year median is 3.98 vs. the industry median of 7.21, Spiltan Invest 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 Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.21, based on 1,590 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. Spiltan Invest's current Return-on-Tangible-Equity of 10.76% is 49.2% 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 Spiltan Invest and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spiltan Invest's current Return-on-Tangible-Equity is 10.76%, which is 170% above median its own 10-year median of 3.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spiltan Invest stock overvalued right now?
Based on GuruFocus' analysis, Spiltan Invest (NGM:SPLTN) is currently considered Significantly Undervalued. The stock's GF Value™ is kr351.45, compared to a current price of kr176.60 — trading 49.8% below its estimated fair value. The current Return-on-Tangible-Equity is 10.76%, which is 170% above median its 10-year median of 3.98 and 49.2% above the Asset Management industry median of 7.21. Spiltan Invest's overall GF Score™ is 75/100. 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 Spiltan Invest (NGM:SPLTN), the current Return-on-Tangible-Equity is 10.76% as of Jun. 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 Spiltan Invest (NGM:SPLTN) Overvalued in 2026?
Based on GuruFocus' analysis, Spiltan Invest stock appears to be undervalued.
The current stock price of kr176.60 is trading 49.8% below its estimated GF Value™ of kr351.45.
GuruFocus considers Spiltan Invest to be Significantly Undervalued.
Key valuation signals for NGM:SPLTN:
Return-on-Tangible-Equity: 10.76% (170% above median its 10-year median of 3.98)
GF Value™: kr351.45 vs. price of kr176.60 (49.8% below fair value)
Industry Position: 49.2% above the Asset Management median (#1376 of 1590)
No single metric tells the full story. See the NGM:SPLTN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Investment AB Spiltan is an investment company that invests in listed and unlisted Swedish growth companies. It currently owns a portfolio consisting of tech, finance, real estate and industry.
75GF Score
Get the complete analysis for NGM:SPLTN
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
NGM:SPLTN has been successfully added to your 
