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Mazagon Dock ShipbuildersNSE:MAZDOCK -1.98%93 Return-on-Tangible-Equity is 27.91% as of Mar. 2026, which is 47% above its 10-year median of 18.96. GuruFocus rates NSE:MAZDOCK with a GF Score™ of 93/100 and a GF Value™ of ₹2,817.24 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 336 Aerospace & Defense companies, Mazagon Dock Shipbuilders ranks better than 80.06% 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. Mazagon Dock Shipbuilders's annualized net income for the quarter that ended in Mar. 2026 was ₹27,167 Mil. Mazagon Dock Shipbuilders's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹97,345 Mil. Therefore, Mazagon Dock Shipbuilders's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 27.91%.
The historical rank and industry rank for Mazagon Dock Shipbuilders's Return-on-Tangible-Equity or its related term are showing as below:
NSE:MAZDOCK'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 15.1 Med: 18.96 Max: 35.33
Current: 31.2
During the past 10 years, Mazagon Dock Shipbuilders's highest Return-on-Tangible-Equity was 35.33%. The lowest was 15.10%. And the median was 18.96%.
NSE:MAZDOCK's Return-on-Tangible-Equity is ranked better than 80.06% of 336
companies
in the Aerospace & Defense industry
Industry Median: 8
vs NSE:MAZDOCK: 31.20
Mazagon Dock Shipbuilders (NSE:MAZDOCK) 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.
Mazagon Dock Shipbuilders Return-on-Tangible-Equity Related Terms
Mazagon Dock Shipbuilders Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Mazagon Dock Shipbuilders'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.
Mazagon Dock Shipbuilders Return-on-Tangible-Equity Chart
NSE:MAZDOCK vs SPCX, GE, RTX: Return-on-Tangible-Equity Comparison
For the Aerospace & Defense subindustry, Mazagon Dock Shipbuilders'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.
Mazagon Dock Shipbuilders Return-on-Tangible-Equity vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Mazagon Dock Shipbuilders's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Mazagon Dock Shipbuilders'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 27.91% mean?
Mazagon Dock Shipbuilders (NSE:MAZDOCK) has a Return-on-Tangible-Equity of 27.91% 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 Mazagon Dock Shipbuilders and its competitors. This is 47% above median its historical median of 18.96. Over the past decade, Mazagon Dock Shipbuilders' Return-on-Tangible-Equity has ranged from 15.10 to 35.33. According to the industry distribution chart, Mazagon Dock Shipbuilders ranks #67 out of 336 companies in the Aerospace & Defense industry, placing it in the top 19.9%.
Is Mazagon Dock Shipbuilders' Return-on-Tangible-Equity too high?
Mazagon Dock Shipbuilders' current Return-on-Tangible-Equity of 27.91% is 47% above median its 10-year median of 18.96. Over the past 10 years, this metric has ranged from a low of 15.10 to a high of 35.33. The Aerospace & Defense industry median Return-on-Tangible-Equity is 8.00. Mazagon Dock Shipbuilders' value of 27.91% is 248.9% above this industry median. Based on the distribution chart, Mazagon Dock Shipbuilders ranks #67 out of 336 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Mazagon Dock Shipbuilders has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mazagon Dock Shipbuilders' Return-on-Tangible-Equity compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Mazagon Dock Shipbuilders ranks #67 out of 336 companies for Return-on-Tangible-Equity. This places Mazagon Dock Shipbuilders in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.00. Mazagon Dock Shipbuilders' value of 27.91% is 248.9% above this benchmark. Historically, Mazagon Dock Shipbuilders' own Return-on-Tangible-Equity has ranged from 15.10 to 35.33 over the past decade. While the company's 10-year median is 18.96 vs. the industry median of 8.00, Mazagon Dock Shipbuilders 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 Aerospace & Defense company?
The median Return-on-Tangible-Equity among Aerospace & Defense companies is 8.00, based on 336 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. Mazagon Dock Shipbuilders's current Return-on-Tangible-Equity of 27.91% is 248.9% 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 Mazagon Dock Shipbuilders and its competitors. For the Aerospace & Defense industry, the median Return-on-Tangible-Equity is 8.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mazagon Dock Shipbuilders's current Return-on-Tangible-Equity is 27.91%, which is 47% above median its own 10-year median of 18.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mazagon Dock Shipbuilders stock overvalued right now?
Based on GuruFocus' analysis, Mazagon Dock Shipbuilders (NSE:MAZDOCK) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹2,817.24, compared to a current price of ₹2,307.40 — trading 18.1% below its estimated fair value. The current Return-on-Tangible-Equity is 27.91%, which is 47% above median its 10-year median of 18.96 and 248.9% above the Aerospace & Defense industry median of 8.00. Mazagon Dock Shipbuilders' overall GF Score™ is 93/100 with 2 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 Mazagon Dock Shipbuilders (NSE:MAZDOCK), the current Return-on-Tangible-Equity is 27.91% 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 Mazagon Dock Shipbuilders (NSE:MAZDOCK) Overvalued in 2026?
Based on GuruFocus' analysis, Mazagon Dock Shipbuilders stock appears to be undervalued.
The current stock price of ₹2,307.40 is trading 18.1% below its estimated GF Value™ of ₹2,817.24.
GuruFocus considers Mazagon Dock Shipbuilders to be Modestly Undervalued.
Key valuation signals for NSE:MAZDOCK:
Return-on-Tangible-Equity: 27.91% (47% above median its 10-year median of 18.96)
GF Value™: ₹2,817.24 vs. price of ₹2,307.40 (18.1% below fair value)
Industry Position: 248.9% above the Aerospace & Defense median (#67 of 336)
No single metric tells the full story. See the NSE:MAZDOCK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mazagon Dock Shipbuilders Ltd is a defense public sector undertaking shipyard under the Ministry of Defence. The company is engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers. The company's activities are the construction of warships, ferries, tugs, dredgers, barges, submarines, merchant ships, etc., with facilities situated in Mumbai and Nhava. It also offers ship designing, ship repairs and refit, tug support, and other related services. The company is organized into two segments: Shipbuilding and Submarine (New Construction and Repairs) and others.
93GF 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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