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. Mutual Benefits Assurance's annualized net income for the quarter that ended in Dec. 2025 was ₦-33,912.23 Mil. Mutual Benefits Assurance's average shareholder tangible equity for the quarter that ended in Dec. 2025 was ₦36,367.94 Mil. Therefore, Mutual Benefits Assurance's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was -93.25%.
The historical rank and industry rank for Mutual Benefits Assurance's Return-on-Tangible-Equity or its related term are showing as below:
NSA:MBAS'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -26.95 Med: 16.35 Max: 32.72
Current: -14.42
During the past 11 years, Mutual Benefits Assurance's highest Return-on-Tangible-Equity was 32.72%. The lowest was -26.95%. And the median was 16.35%.
NSA:MBAS's Return-on-Tangible-Equity is ranked worse than 96.02% of 502
companies
in the Insurance industry
Industry Median: 13.515
vs NSA:MBAS: -14.42
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.
Mutual Benefits Assurance Return-on-Tangible-Equity Related Terms
Mutual Benefits Assurance Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Mutual Benefits Assurance'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.
NSA:MBAS vs BRK.A, AIG, HIG: Return-on-Tangible-Equity Comparison
For the Insurance - Diversified subindustry, Mutual Benefits Assurance'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.
Mutual Benefits Assurance Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, Mutual Benefits Assurance's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Mutual Benefits Assurance'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 -93.25% mean?
Mutual Benefits Assurance (NSA:MBAS) has a Return-on-Tangible-Equity of -93.25% 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 Mutual Benefits Assurance and its competitors. According to the industry distribution chart, Mutual Benefits Assurance ranks #482 out of 502 companies in the Insurance industry, placing it in the top 96%.
Is Mutual Benefits Assurance's Return-on-Tangible-Equity too high?
Mutual Benefits Assurance's current Return-on-Tangible-Equity is -93.25%. Based on the distribution chart, Mutual Benefits Assurance ranks #482 out of 502 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Mutual Benefits Assurance has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Benefits Assurance's Return-on-Tangible-Equity compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Mutual Benefits Assurance ranks #482 out of 502 companies for Return-on-Tangible-Equity. This places Mutual Benefits Assurance in the lower half of its industry. The industry median Return-on-Tangible-Equity is 13.52. 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 502 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 Mutual Benefits Assurance 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. Mutual Benefits Assurance's current Return-on-Tangible-Equity is -93.25%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Benefits Assurance stock overvalued right now?
Based on GuruFocus' analysis, Mutual Benefits Assurance (NSA:MBAS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.25, compared to a current price of ₦3.39 — trading 50.7% above its estimated fair value. The current Return-on-Tangible-Equity is -93.25%. Mutual Benefits Assurance's overall GF Score™ is 61/100 with 1 warning sign 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 Mutual Benefits Assurance (NSA:MBAS), the current Return-on-Tangible-Equity is -93.25% 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 Mutual Benefits Assurance (NSA:MBAS) Overvalued in 2026?
Based on GuruFocus' analysis, Mutual Benefits Assurance stock appears to be overvalued.
The current stock price of ₦3.39 is trading 50.7% above its estimated GF Value™ of ₦2.25.
GuruFocus considers Mutual Benefits Assurance to be Significantly Overvalued.
Key valuation signals for NSA:MBAS:
Return-on-Tangible-Equity: -93.25%
GF Value™: ₦2.25 vs. price of ₦3.39 (50.7% above fair value)
No single metric tells the full story. See the NSA:MBAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mutual Benefits Assurance PLC is a financial and wealth protection company in Nigeria. The principal objective of the Company is to render qualitative life related insurance & risks management services. It is a premium provider of life insurance, annuity and investment products and services. It has four reportable operating segments; assurance business, real estate, microfinance bank, and oil and gas exploration and production. The majority of revenue comes from Assurance business which covers the protection of customers' assets (Particularly their properties, both for personal and commercial business) and indemnification of other parties that have suffered damage as a result of customers accident. It has presence in Nigeria, and Liberia.
61GF 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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