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.
NOFNOFCF 89 Return-on-Tangible-Equity is 20.70% as of Mar. 2026, which is 62% above its 10-year median of 12.74. GuruFocus rates NOFCF with a GF Score™ of 89/100 and a GF Value™ of $19.18. Among 1,570 Chemicals companies, NOF ranks better than 81.21% 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. NOF's annualized net income for the quarter that ended in Mar. 2026 was $378 Mil. NOF's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $1,825 Mil. Therefore, NOF's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 20.70%.
The historical rank and industry rank for NOF's Return-on-Tangible-Equity or its related term are showing as below:
NOFCF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 11.97 Med: 12.74 Max: 14.84
Current: 14.4
During the past 13 years, NOF's highest Return-on-Tangible-Equity was 14.84%. The lowest was 11.97%. And the median was 12.74%.
NOFCF's Return-on-Tangible-Equity is ranked better than 81.21% of 1570
companies
in the Chemicals industry
Industry Median: 5.745
vs NOFCF: 14.40
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.
NOF Return-on-Tangible-Equity Related Terms
NOF Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for NOF'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.
NOFCF vs LIN, SHW, ECL: Return-on-Tangible-Equity Comparison
For the Specialty Chemicals subindustry, NOF'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.
NOF Return-on-Tangible-Equity vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, NOF's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where NOF'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 (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 20.70% mean?
NOF (NOFCF) has a Return-on-Tangible-Equity of 20.70% 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 NOF and its competitors. This is 62% above median its historical median of 12.74. Over the past decade, NOF's Return-on-Tangible-Equity has ranged from 11.97 to 14.84. According to the industry distribution chart, NOF ranks #295 out of 1570 companies in the Chemicals industry, placing it in the top 18.8%.
Is NOF's Return-on-Tangible-Equity too high?
NOF's current Return-on-Tangible-Equity of 20.70% is 62% above median its 10-year median of 12.74. Over the past 10 years, this metric has ranged from a low of 11.97 to a high of 14.84. The Chemicals industry median Return-on-Tangible-Equity is 5.75. NOF's value of 20.70% is 260.3% above this industry median. Based on the distribution chart, NOF ranks #295 out of 1570 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, NOF has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does NOF's Return-on-Tangible-Equity compare to LIN and SHW?
According to the Chemicals industry distribution chart, NOF ranks #295 out of 1570 companies for Return-on-Tangible-Equity. This places NOF in the top 19% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 5.75. NOF's value of 20.70% is 260.3% above this benchmark. Historically, NOF's own Return-on-Tangible-Equity has ranged from 11.97 to 14.84 over the past decade. While the company's 10-year median is 12.74 vs. the industry median of 5.75, NOF 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 Chemicals company?
The median Return-on-Tangible-Equity among Chemicals companies is 5.75, based on 1,570 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. NOF's current Return-on-Tangible-Equity of 20.70% is 260.3% 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 NOF and its competitors. For the Chemicals industry, the median Return-on-Tangible-Equity is 5.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NOF's current Return-on-Tangible-Equity is 20.70%, which is 62% above median its own 10-year median of 12.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NOF stock overvalued right now?
NOF (NOFCF) has a current Return-on-Tangible-Equity of 20.70%. The stock's GF Value™ is $19.18, compared to a current price of $17.86 — trading 6.9% below its estimated fair value. The current Return-on-Tangible-Equity is 20.70%, which is 62% above median its 10-year median of 12.74 and 260.3% above the Chemicals industry median of 5.75. NOF's overall GF Score™ is 89/100. 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 NOF (NOFCF), the current Return-on-Tangible-Equity is 20.70% 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 NOF (NOFCF) Overvalued in 2026?
Based on GuruFocus' analysis, NOF stock appears to be undervalued.
The current stock price of $17.86 is trading 6.9% below its estimated GF Value™ of $19.18.
Key valuation signals for NOFCF:
Return-on-Tangible-Equity: 20.70% (62% above median its 10-year median of 12.74)
GF Value™: $19.18 vs. price of $17.86 (6.9% below fair value)
Industry Position: 260.3% above the Chemicals median (#295 of 1570)
No single metric tells the full story. See the NOFCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NOF Corp is engaged in the chemical manufacturing business. The Group has three reportable segments: Functional Chemicals Business, Pharmaceuticals, Medical and Healthcare Business, & Chemicals Business. The Functional Chemicals segment manufactures and sells fatty acids, surfactants, ethylene oxide/propylene oxide derivatives, organic peroxides, petrochemicals, functional polymers, electronic materials, and special rust prevention agents. The Pharmaceuticals, Medical and Healthcare segment produces pharmaceutical and functional food ingredients, health-related products, biocompatible materials, and raw materials for DDS pharmaceutical formulations. The Chemicals segment manufactures and sells industrial explosives, space-related products, defense-related products, and functional products.
89GF Score
Get the complete analysis for NOFCF
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
NOFCF has been successfully added to your 
