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Happy ForgingsNSE:HAPPYFORGE -0.07%47 Return-on-Tangible-Equity is 15.85% as of Mar. 2026, which is 8% below its 10-year median of 17.14. GuruFocus rates NSE:HAPPYFORGE with a GF Score™ of 47/100. The stock has 6 warning signs investors should review. Among 2,972 Industrial Products companies, Happy Forgings ranks better than 78.23% 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. Happy Forgings's annualized net income for the quarter that ended in Mar. 2026 was ₹3,342 Mil. Happy Forgings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹21,090 Mil. Therefore, Happy Forgings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 15.85%.
The historical rank and industry rank for Happy Forgings's Return-on-Tangible-Equity or its related term are showing as below:
NSE:HAPPYFORGE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 13.42 Med: 17.14 Max: 23.54
Current: 15.37
During the past 6 years, Happy Forgings's highest Return-on-Tangible-Equity was 23.54%. The lowest was 13.42%. And the median was 17.14%.
NSE:HAPPYFORGE's Return-on-Tangible-Equity is ranked better than 78.23% of 2972
companies
in the Industrial Products industry
Industry Median: 6.72
vs NSE:HAPPYFORGE: 15.37
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.
Happy Forgings Return-on-Tangible-Equity Related Terms
Happy Forgings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Happy Forgings'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.
NSE:HAPPYFORGE vs CRS, ATI, MLI: Return-on-Tangible-Equity Comparison
For the Metal Fabrication subindustry, Happy Forgings'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.
Happy Forgings Return-on-Tangible-Equity vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Happy Forgings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Happy Forgings'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 15.85% mean?
Happy Forgings (NSE:HAPPYFORGE) has a Return-on-Tangible-Equity of 15.85% 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 Happy Forgings and its competitors. This is near median its historical median of 17.14. Over the past decade, Happy Forgings' Return-on-Tangible-Equity has ranged from 13.42 to 23.54. According to the industry distribution chart, Happy Forgings ranks #647 out of 2972 companies in the Industrial Products industry, placing it in the top 21.8%.
Is Happy Forgings' Return-on-Tangible-Equity too high?
Happy Forgings' current Return-on-Tangible-Equity of 15.85% is near median its 10-year median of 17.14. Over the past 10 years, this metric has ranged from a low of 13.42 to a high of 23.54. The Industrial Products industry median Return-on-Tangible-Equity is 6.72. Happy Forgings' value of 15.85% is 135.9% above this industry median. Based on the distribution chart, Happy Forgings ranks #647 out of 2972 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Happy Forgings has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does Happy Forgings' Return-on-Tangible-Equity compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Happy Forgings ranks #647 out of 2972 companies for Return-on-Tangible-Equity. This places Happy Forgings in the top 22% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.72. Happy Forgings' value of 15.85% is 135.9% above this benchmark. Historically, Happy Forgings' own Return-on-Tangible-Equity has ranged from 13.42 to 23.54 over the past decade. While the company's 10-year median is 17.14 vs. the industry median of 6.72, Happy Forgings 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 Industrial Products company?
The median Return-on-Tangible-Equity among Industrial Products companies is 6.72, based on 2,972 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. Happy Forgings's current Return-on-Tangible-Equity of 15.85% is 135.9% 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 Happy Forgings and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Equity is 6.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Forgings's current Return-on-Tangible-Equity is 15.85%, which is near median its own 10-year median of 17.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Forgings stock overvalued right now?
Happy Forgings (NSE:HAPPYFORGE) has a current Return-on-Tangible-Equity of 15.85%. The current Return-on-Tangible-Equity is 15.85%, which is near median its 10-year median of 17.14 and 135.9% above the Industrial Products industry median of 6.72. Happy Forgings' overall GF Score™ is 47/100 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 Happy Forgings (NSE:HAPPYFORGE), the current Return-on-Tangible-Equity is 15.85% 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.
Happy Forgings Ltd is a manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. The company manufactures, designs, and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies for different industries and customers. The Company business comprises only the Forging segment where the company sells forged products comprising of forgings and machined components for the automotive and industrial sectors. The company generates the majority of its revenue within India.
47GF Score
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