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First HoldcoNSA:FIRSTHOLDCO +9.96%56 Return-on-Tangible-Equity is 32.44% as of Mar. 2026, which is 157% above its 10-year median of 12.64. GuruFocus rates NSA:FIRSTHOLDCO with a GF Score™ of 56/100 and a GF Value™ of ₦36.67 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,523 Banks companies, First Holdco ranks worse than 85.95% 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. First Holdco's annualized net income for the quarter that ended in Mar. 2026 was ₦1,066,688 Mil. First Holdco's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₦3,288,070 Mil. Therefore, First Holdco's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 32.44%.
The historical rank and industry rank for First Holdco's Return-on-Tangible-Equity or its related term are showing as below:
NSA:FIRSTHOLDCO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.12 Med: 12.64 Max: 30.58
Current: 4.44
During the past 13 years, First Holdco's highest Return-on-Tangible-Equity was 30.58%. The lowest was 2.12%. And the median was 12.64%.
NSA:FIRSTHOLDCO's Return-on-Tangible-Equity is ranked worse than 85.95% of 1523
companies
in the Banks industry
Industry Median: 11.23
vs NSA:FIRSTHOLDCO: 4.44
First Holdco (NSA:FIRSTHOLDCO) 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.
First Holdco Return-on-Tangible-Equity Related Terms
First Holdco Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for First Holdco'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.
First Holdco Return-on-Tangible-Equity Competitor Comparison
For the Banks - Regional subindustry, First Holdco'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.
First Holdco Return-on-Tangible-Equity vs Banks Industry
For the Banks industry and Financial Services sector, First Holdco's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where First Holdco'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 32.44% mean?
First Holdco (NSA:FIRSTHOLDCO) has a Return-on-Tangible-Equity of 32.44% 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 First Holdco and its competitors. This is 157% above median its historical median of 12.64. Over the past decade, First Holdco's Return-on-Tangible-Equity has ranged from 2.12 to 30.58. According to the industry distribution chart, First Holdco ranks #1309 out of 1523 companies in the Banks industry, placing it in the top 85.9%.
Is First Holdco's Return-on-Tangible-Equity too high?
First Holdco's current Return-on-Tangible-Equity of 32.44% is 157% above median its 10-year median of 12.64. Over the past 10 years, this metric has ranged from a low of 2.12 to a high of 30.58. The Banks industry median Return-on-Tangible-Equity is 11.23. First Holdco's value of 32.44% is 188.9% above this industry median. Based on the distribution chart, First Holdco ranks #1309 out of 1523 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, First Holdco has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Holdco's Return-on-Tangible-Equity compare to competitors?
According to the Banks industry distribution chart, First Holdco ranks #1309 out of 1523 companies for Return-on-Tangible-Equity. This places First Holdco in the lower half of its industry. The industry median Return-on-Tangible-Equity is 11.23. First Holdco's value of 32.44% is 188.9% above this benchmark. Historically, First Holdco's own Return-on-Tangible-Equity has ranged from 2.12 to 30.58 over the past decade. While the company's 10-year median is 12.64 vs. the industry median of 11.23, First Holdco 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 Banks company?
The median Return-on-Tangible-Equity among Banks companies is 11.23, based on 1,523 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. First Holdco's current Return-on-Tangible-Equity of 32.44% is 188.9% 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 First Holdco and its competitors. For the Banks industry, the median Return-on-Tangible-Equity is 11.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Holdco's current Return-on-Tangible-Equity is 32.44%, which is 157% above median its own 10-year median of 12.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Holdco stock overvalued right now?
Based on GuruFocus' analysis, First Holdco (NSA:FIRSTHOLDCO) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦36.67, compared to a current price of ₦87.25 — trading 137.9% above its estimated fair value. The current Return-on-Tangible-Equity is 32.44%, which is 157% above median its 10-year median of 12.64 and 188.9% above the Banks industry median of 11.23. First Holdco's overall GF Score™ is 56/100 with 6 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 First Holdco (NSA:FIRSTHOLDCO), the current Return-on-Tangible-Equity is 32.44% 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 First Holdco (NSA:FIRSTHOLDCO) Overvalued in 2026?
Based on GuruFocus' analysis, First Holdco stock appears to be overvalued.
The current stock price of ₦87.25 is trading 137.9% above its estimated GF Value™ of ₦36.67.
GuruFocus considers First Holdco to be Significantly Overvalued.
Key valuation signals for NSA:FIRSTHOLDCO:
Return-on-Tangible-Equity: 32.44% (157% above median its 10-year median of 12.64)
GF Value™: ₦36.67 vs. price of ₦87.25 (137.9% above fair value)
Industry Position: 188.9% above the Banks median (#1309 of 1523)
No single metric tells the full story. See the NSA:FIRSTHOLDCO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Holdco PLC is a Nigerian financial services Group. The principal activities of the company are mainly the provision of Commercial Banking, Investment Banking, Asset Management, Trusteeship, Securities Brokerage and Insurance Brokerage. Its reportable segments are 1. Commercial Banking Business Group: It provides both individual and corporate clients/ customers with financial intermediation services, 2 Investment Banking and Asset Management Business Group: It provides advisory, asset management, markets and private equity services to a large institutional (corporations and governments) clientele, as well as merchant banking services., and 3. Others. The majority of revenue is derived from the Commercial Banking Business Group. Geographically, key revenue is derived from Nigeria.
56GF Score
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Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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