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.
Multi Commodity Exchange of IndiaNSE:MCX -2.42%97 Return-on-Tangible-Equity is 79.50% as of Mar. 2026, which is 610% above its 10-year median of 11.20. GuruFocus rates NSE:MCX with a GF Score™ of 97/100 and a GF Value™ of ₹3,363.08 (Modestly Undervalued). Among 784 Capital Markets companies, Multi Commodity Exchange of India ranks better than 93.24% on this metric.
The historical rank and industry rank for Multi Commodity Exchange of India's Return-on-Tangible-Equity or its related term are showing as below:
NSE:MCX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 6.6 Med: 11.2 Max: 63.95
Current: 63.95
During the past 13 years, Multi Commodity Exchange of India's highest Return-on-Tangible-Equity was 63.95%. The lowest was 6.60%. And the median was 11.20%.
NSE:MCX's Return-on-Tangible-Equity is ranked better than 93.24% of 784
companies
in the Capital Markets industry
Industry Median: 6.485
vs NSE:MCX: 63.95
Multi Commodity Exchange of India (NSE:MCX) 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.
Multi Commodity Exchange of India Return-on-Tangible-Equity Related Terms
Multi Commodity Exchange of India Return-on-Tangible-Equity Historical Data
* 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.
Multi Commodity Exchange of India Return-on-Tangible-Equity Chart
NSE:MCX vs SPGI, CME, MCO: Return-on-Tangible-Equity Comparison
For the Financial Data & Stock Exchanges subindustry, Multi Commodity Exchange of India'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.
Multi Commodity Exchange of India Return-on-Tangible-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Multi Commodity Exchange of India's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Multi Commodity Exchange of India'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 79.50% mean?
Multi Commodity Exchange of India (NSE:MCX) has a Return-on-Tangible-Equity of 79.50% 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 Multi Commodity Exchange of India and its competitors. This is 610% above median its historical median of 11.20. Over the past decade, Multi Commodity Exchange of India's Return-on-Tangible-Equity has ranged from 6.60 to 63.95. According to the industry distribution chart, Multi Commodity Exchange of India ranks #53 out of 784 companies in the Capital Markets industry, placing it in the top 6.8%.
Is Multi Commodity Exchange of India's Return-on-Tangible-Equity too high?
Multi Commodity Exchange of India's current Return-on-Tangible-Equity of 79.50% is 610% above median its 10-year median of 11.20. Over the past 10 years, this metric has ranged from a low of 6.60 to a high of 63.95. The Capital Markets industry median Return-on-Tangible-Equity is 6.49. Multi Commodity Exchange of India's value of 79.50% is 1125.9% above this industry median. Based on the distribution chart, Multi Commodity Exchange of India ranks #53 out of 784 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Multi Commodity Exchange of India has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Multi Commodity Exchange of India's Return-on-Tangible-Equity compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Multi Commodity Exchange of India ranks #53 out of 784 companies for Return-on-Tangible-Equity. This places Multi Commodity Exchange of India in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.49. Multi Commodity Exchange of India's value of 79.50% is 1125.9% above this benchmark. Historically, Multi Commodity Exchange of India's own Return-on-Tangible-Equity has ranged from 6.60 to 63.95 over the past decade. While the company's 10-year median is 11.20 vs. the industry median of 6.49, Multi Commodity Exchange of India 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 Capital Markets company?
The median Return-on-Tangible-Equity among Capital Markets companies is 6.49, based on 784 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. Multi Commodity Exchange of India's current Return-on-Tangible-Equity of 79.50% is 1125.9% 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 Multi Commodity Exchange of India and its competitors. For the Capital Markets industry, the median Return-on-Tangible-Equity is 6.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Multi Commodity Exchange of India's current Return-on-Tangible-Equity is 79.50%, which is 610% above median its own 10-year median of 11.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Multi Commodity Exchange of India stock overvalued right now?
Based on GuruFocus' analysis, Multi Commodity Exchange of India (NSE:MCX) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹3,363.08, compared to a current price of ₹2,747.50 — trading 18.3% below its estimated fair value. The current Return-on-Tangible-Equity is 79.50%, which is 610% above median its 10-year median of 11.20 and 1125.9% above the Capital Markets industry median of 6.49. Multi Commodity Exchange of India's overall GF Score™ is 97/100. 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 Multi Commodity Exchange of India (NSE:MCX), the current Return-on-Tangible-Equity is 79.50% 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 Multi Commodity Exchange of India (NSE:MCX) Overvalued in 2026?
Based on GuruFocus' analysis, Multi Commodity Exchange of India stock appears to be undervalued.
The current stock price of ₹2,747.50 is trading 18.3% below its estimated GF Value™ of ₹3,363.08.
GuruFocus considers Multi Commodity Exchange of India to be Modestly Undervalued.
Key valuation signals for NSE:MCX:
Return-on-Tangible-Equity: 79.50% (610% above median its 10-year median of 11.20)
GF Value™: ₹3,363.08 vs. price of ₹2,747.50 (18.3% below fair value)
Industry Position: 1125.9% above the Capital Markets median (#53 of 784)
No single metric tells the full story. See the NSE:MCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Multi Commodity Exchange of India Business Description
Multi Commodity Exchange of India Ltd is an India-based deemed Stock Exchange recognized under the Securities Contracts (Regulation) Act, 1956. The company facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. The company is a demutualized Exchange and has permanent recognition from the Government of India to facilitate nationwide online trading, clearing, and settlement operations of commodity derivatives. The company derives its revenues from transaction fees, admission fees, annual subscription fees, terminal charges, connectivity income, interest income, dividends from and gains on the sale of investments and other miscellaneous income.
97GF Score
Get the complete analysis for NSE:MCX
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
NSE:MCX has been successfully added to your 
