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JSW SteelNSE:JSWSTEEL +0.83%88 Return-on-Tangible-Equity is 67.49% as of Mar. 2026, which is 255% above its 10-year median of 19.03. GuruFocus rates NSE:JSWSTEEL with a GF Score™ of 88/100 and a GF Value™ of ₹1,042.27 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 615 Steel companies, JSW Steel ranks better than 94.47% 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. JSW Steel's annualized net income for the quarter that ended in Mar. 2026 was ₹654,800 Mil. JSW Steel's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹970,210 Mil. Therefore, JSW Steel's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 67.49%.
The historical rank and industry rank for JSW Steel's Return-on-Tangible-Equity or its related term are showing as below:
NSE:JSWSTEEL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 4.65 Med: 19.03 Max: 38.05
Current: 26.45
During the past 13 years, JSW Steel's highest Return-on-Tangible-Equity was 38.05%. The lowest was 4.65%. And the median was 19.03%.
NSE:JSWSTEEL's Return-on-Tangible-Equity is ranked better than 94.47% of 615
companies
in the Steel industry
Industry Median: 3.97
vs NSE:JSWSTEEL: 26.45
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.
JSW Steel Return-on-Tangible-Equity Related Terms
JSW Steel Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for JSW Steel'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:JSWSTEEL vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, JSW Steel'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.
JSW Steel Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, JSW Steel's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where JSW Steel'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 67.49% mean?
JSW Steel (NSE:JSWSTEEL) has a Return-on-Tangible-Equity of 67.49% 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 JSW Steel and its competitors. This is 255% above median its historical median of 19.03. Over the past decade, JSW Steel's Return-on-Tangible-Equity has ranged from 4.65 to 38.05. According to the industry distribution chart, JSW Steel ranks #34 out of 615 companies in the Steel industry, placing it in the top 5.5%.
Is JSW Steel's Return-on-Tangible-Equity too high?
JSW Steel's current Return-on-Tangible-Equity of 67.49% is 255% above median its 10-year median of 19.03. Over the past 10 years, this metric has ranged from a low of 4.65 to a high of 38.05. The Steel industry median Return-on-Tangible-Equity is 3.97. JSW Steel's value of 67.49% is 1600% above this industry median. Based on the distribution chart, JSW Steel ranks #34 out of 615 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, JSW Steel has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JSW Steel's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, JSW Steel ranks #34 out of 615 companies for Return-on-Tangible-Equity. This places JSW Steel in the top 6% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 3.97. JSW Steel's value of 67.49% is 1600% above this benchmark. Historically, JSW Steel's own Return-on-Tangible-Equity has ranged from 4.65 to 38.05 over the past decade. While the company's 10-year median is 19.03 vs. the industry median of 3.97, JSW Steel 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 Steel company?
The median Return-on-Tangible-Equity among Steel companies is 3.97, based on 615 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. JSW Steel's current Return-on-Tangible-Equity of 67.49% is 1600% 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 JSW Steel and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 3.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JSW Steel's current Return-on-Tangible-Equity is 67.49%, which is 255% above median its own 10-year median of 19.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JSW Steel stock overvalued right now?
Based on GuruFocus' analysis, JSW Steel (NSE:JSWSTEEL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹1,042.27, compared to a current price of ₹1,247.70 — trading 19.7% above its estimated fair value. The current Return-on-Tangible-Equity is 67.49%, which is 255% above median its 10-year median of 19.03 and 1600% above the Steel industry median of 3.97. JSW Steel's overall GF Score™ is 88/100 with 7 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 JSW Steel (NSE:JSWSTEEL), the current Return-on-Tangible-Equity is 67.49% 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 JSW Steel (NSE:JSWSTEEL) Overvalued in 2026?
Based on GuruFocus' analysis, JSW Steel stock appears to be overvalued.
The current stock price of ₹1,247.70 is trading 19.7% above its estimated GF Value™ of ₹1,042.27.
GuruFocus considers JSW Steel to be Modestly Overvalued.
Key valuation signals for NSE:JSWSTEEL:
Return-on-Tangible-Equity: 67.49% (255% above median its 10-year median of 19.03)
GF Value™: ₹1,042.27 vs. price of ₹1,247.70 (19.7% above fair value)
Industry Position: 1600% above the Steel median (#34 of 615)
No single metric tells the full story. See the NSE:JSWSTEEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JSW Steel Ltd is an India-based company that is engaged in the business of manufacturing and selling steel products. Its steel products include semis, hot-rolled steel, cold-rolled steel, galvanized steel, color-coated steel, and long products. Its flat steel products (including hot-rolled, cold-rolled, and galvanized products), which account for the majority of the company's steel volume, are used in Indian automotive, construction, infrastructure, engineering, and consumer durable industries. Its long products are used in the Indian construction, infrastructure, and automotive industries. The company generates the majority of its revenue from the Indian domestic market.
88GF Score
Get the complete analysis for NSE:JSWSTEEL
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