National FertilizersNSE:NFL -0.36%72 Return-on-Tangible-Equity is 21.64% as of Mar. 2026, which is 128% above its 10-year median of 9.48. GuruFocus rates NSE:NFL with a GF Score™ of 72/100 and a GF Value™ of ₹302.94 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 248 Agriculture companies, National Fertilizers ranks better than 50% 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. National Fertilizers's annualized net income for the quarter that ended in Mar. 2026 was ₹6,062 Mil. National Fertilizers's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹28,014 Mil. Therefore, National Fertilizers's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 21.64%.
The historical rank and industry rank for National Fertilizers's Return-on-Tangible-Equity or its related term are showing as below:
NSE:NFL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -8.82 Med: 9.48 Max: 20.14
Current: 7.94
During the past 13 years, National Fertilizers's highest Return-on-Tangible-Equity was 20.14%. The lowest was -8.82%. And the median was 9.48%.
NSE:NFL's Return-on-Tangible-Equity is ranked better than 50% of 248
companies
in the Agriculture industry
Industry Median: 7.89
vs NSE:NFL: 7.94
National Fertilizers (NSE:NFL) 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.
National Fertilizers Return-on-Tangible-Equity Related Terms
National Fertilizers Return-on-Tangible-Equity Historical Data
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The historical data trend for National Fertilizers'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.
National Fertilizers Return-on-Tangible-Equity Chart
NSE:NFL vs CTVA, CF, MOS: Return-on-Tangible-Equity Comparison
For the Agricultural Inputs subindustry, National Fertilizers'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.
National Fertilizers Return-on-Tangible-Equity vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, National Fertilizers's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where National Fertilizers'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 21.64% mean?
National Fertilizers (NSE:NFL) has a Return-on-Tangible-Equity of 21.64% 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 National Fertilizers and its competitors. This is 128% above median its historical median of 9.48. According to the industry distribution chart, National Fertilizers ranks #124 out of 248 companies in the Agriculture industry, placing it in the top 50%.
Is National Fertilizers' Return-on-Tangible-Equity too high?
National Fertilizers' current Return-on-Tangible-Equity of 21.64% is 128% above median its 10-year median of 9.48. The Agriculture industry median Return-on-Tangible-Equity is 7.89. National Fertilizers' value of 21.64% is 174.3% above this industry median. Based on the distribution chart, National Fertilizers ranks #124 out of 248 companies in the Agriculture industry, which is above the industry midpoint. Overall, National Fertilizers has a GF Score™ of 72/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does National Fertilizers' Return-on-Tangible-Equity compare to CTVA and CF?
According to the Agriculture industry distribution chart, National Fertilizers ranks #124 out of 248 companies for Return-on-Tangible-Equity. This puts National Fertilizers in the upper half of its industry. The industry median Return-on-Tangible-Equity is 7.89. National Fertilizers' value of 21.64% is 174.3% above this benchmark. While the company's 10-year median is 9.48 vs. the industry median of 7.89, National Fertilizers 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 Agriculture company?
The median Return-on-Tangible-Equity among Agriculture companies is 7.89, based on 248 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. National Fertilizers's current Return-on-Tangible-Equity of 21.64% is 174.3% 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 National Fertilizers and its competitors. For the Agriculture industry, the median Return-on-Tangible-Equity is 7.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fertilizers's current Return-on-Tangible-Equity is 21.64%, which is 128% above median its own 10-year median of 9.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Fertilizers stock overvalued right now?
Based on GuruFocus' analysis, National Fertilizers (NSE:NFL) is currently considered Possible Value Trap. The stock's GF Value™ is ₹302.94, compared to a current price of ₹74.42 — trading 75.4% below its estimated fair value. The current Return-on-Tangible-Equity is 21.64%, which is 128% above median its 10-year median of 9.48 and 174.3% above the Agriculture industry median of 7.89. National Fertilizers' overall GF Score™ is 72/100 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 National Fertilizers (NSE:NFL), the current Return-on-Tangible-Equity is 21.64% 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 National Fertilizers (NSE:NFL) Overvalued in 2026?
Based on GuruFocus' analysis, National Fertilizers stock appears to be undervalued.
The current stock price of ₹74.42 is trading 75.4% below its estimated GF Value™ of ₹302.94.
GuruFocus considers National Fertilizers to be Possible Value Trap.
Key valuation signals for NSE:NFL:
Return-on-Tangible-Equity: 21.64% (128% above median its 10-year median of 9.48)
GF Value™: ₹302.94 vs. price of ₹74.42 (75.4% below fair value)
Industry Position: 174.3% above the Agriculture median (#124 of 248)
No single metric tells the full story. See the NSE:NFL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Fertilizers Ltd is engaged in the business of manufacturing agro chemicals. Its product portfolio includes Neem Coated Urea, four strains of Bio-Fertilizers (solid & liquid), Bentonite Sulphur, and other allied Industrial products like Ammonia, Nitric Acid, Ammonium Nitrate, Sodium Nitrite and Sodium Nitrate. The brand name of the company is known in the market as KISAN. The company also provides agriculture extension services to educate farmers on fertilizers and the know-how on scientific methods of cultivation. Its operating segments include Manufactured Fertilizers which derive key revenue, Manufactured Chemicals, Traded Imported Fertilizers, and Others. Geographically, the company caters only to the Indian market.
72GF Score
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