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.
HBM NigeriaNSA:HBMNG -1.49%78 Return-on-Tangible-Equity is 52.74% as of Mar. 2026, which is 285% above its 10-year median of 13.70. GuruFocus rates NSA:HBMNG with a GF Score™ of 78/100 and a GF Value™ of ₦128.59 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 397 Building Materials companies, HBM Nigeria ranks better than 95.72% 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. HBM Nigeria's annualized net income for the quarter that ended in Mar. 2026 was ₦391,818 Mil. HBM Nigeria's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₦742,949 Mil. Therefore, HBM Nigeria's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 52.74%.
The historical rank and industry rank for HBM Nigeria's Return-on-Tangible-Equity or its related term are showing as below:
NSA:HBMNG'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -33.29 Med: 13.7 Max: 50.04
Current: 50.04
During the past 13 years, HBM Nigeria's highest Return-on-Tangible-Equity was 50.04%. The lowest was -33.29%. And the median was 13.70%.
NSA:HBMNG's Return-on-Tangible-Equity is ranked better than 95.72% of 397
companies
in the Building Materials industry
Industry Median: 5.06
vs NSA:HBMNG: 50.04
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.
HBM Nigeria Return-on-Tangible-Equity Related Terms
HBM Nigeria Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for HBM Nigeria'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:HBMNG vs CRH, VMC, MLM: Return-on-Tangible-Equity Comparison
For the Building Materials subindustry, HBM Nigeria'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.
HBM Nigeria Return-on-Tangible-Equity vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, HBM Nigeria's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where HBM Nigeria'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 52.74% mean?
HBM Nigeria (NSA:HBMNG) has a Return-on-Tangible-Equity of 52.74% 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 HBM Nigeria and its competitors. This is 285% above median its historical median of 13.70. According to the industry distribution chart, HBM Nigeria ranks #17 out of 397 companies in the Building Materials industry, placing it in the top 4.3%.
Is HBM Nigeria's Return-on-Tangible-Equity too high?
HBM Nigeria's current Return-on-Tangible-Equity of 52.74% is 285% above median its 10-year median of 13.70. The Building Materials industry median Return-on-Tangible-Equity is 5.06. HBM Nigeria's value of 52.74% is 942.3% above this industry median. Based on the distribution chart, HBM Nigeria ranks #17 out of 397 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, HBM Nigeria has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does HBM Nigeria's Return-on-Tangible-Equity compare to CRH and VMC?
According to the Building Materials industry distribution chart, HBM Nigeria ranks #17 out of 397 companies for Return-on-Tangible-Equity. This places HBM Nigeria in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 5.06. HBM Nigeria's value of 52.74% is 942.3% above this benchmark. While the company's 10-year median is 13.70 vs. the industry median of 5.06, HBM Nigeria 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 Building Materials company?
The median Return-on-Tangible-Equity among Building Materials companies is 5.06, based on 397 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. HBM Nigeria's current Return-on-Tangible-Equity of 52.74% is 942.3% 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 HBM Nigeria and its competitors. For the Building Materials industry, the median Return-on-Tangible-Equity is 5.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HBM Nigeria's current Return-on-Tangible-Equity is 52.74%, which is 285% above median its own 10-year median of 13.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HBM Nigeria stock overvalued right now?
Based on GuruFocus' analysis, HBM Nigeria (NSA:HBMNG) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦128.59, compared to a current price of ₦330.00 — trading 156.6% above its estimated fair value. The current Return-on-Tangible-Equity is 52.74%, which is 285% above median its 10-year median of 13.70 and 942.3% above the Building Materials industry median of 5.06. HBM Nigeria's overall GF Score™ is 78/100 with 5 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 HBM Nigeria (NSA:HBMNG), the current Return-on-Tangible-Equity is 52.74% 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 HBM Nigeria (NSA:HBMNG) Overvalued in 2026?
Based on GuruFocus' analysis, HBM Nigeria stock appears to be overvalued.
The current stock price of ₦330.00 is trading 156.6% above its estimated GF Value™ of ₦128.59.
GuruFocus considers HBM Nigeria to be Significantly Overvalued.
Key valuation signals for NSA:HBMNG:
Return-on-Tangible-Equity: 52.74% (285% above median its 10-year median of 13.70)
GF Value™: ₦128.59 vs. price of ₦330.00 (156.6% above fair value)
Industry Position: 942.3% above the Building Materials median (#17 of 397)
No single metric tells the full story. See the NSA:HBMNG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lafarge Africa PLC through its subsidiaries is engaged in manufacturing and marketing of cement, concrete, and aggregates products, including the provision of building solutions. The brands in products portfolio of the company includes ECOPlanet Unicem, Elephant cement, ThermoSet, Watershield, Powermax, and Supaset cement among others. It has two segments Cement & Readymix products. The majority of the revenue is generated from the cement segment.
78GF Score
Get the complete analysis for NSA:HBMNG
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
NSA:HBMNG has been successfully added to your 
