Usha MartinNSE:USHAMART +2.33%79 Return-on-Tangible-Equity is 18.26% as of Mar. 2026, which is 14% above its 10-year median of 16.01. GuruFocus rates NSE:USHAMART with a GF Score™ of 79/100 and a GF Value™ of ₹416.26 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 614 Steel companies, Usha Martin ranks better than 80.62% 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. Usha Martin's annualized net income for the quarter that ended in Mar. 2026 was ₹5,912 Mil. Usha Martin's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹32,383 Mil. Therefore, Usha Martin's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 18.26%.
The historical rank and industry rank for Usha Martin's Return-on-Tangible-Equity or its related term are showing as below:
NSE:USHAMART'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -36.97 Med: 16.01 Max: 44.6
Current: 12.02
During the past 13 years, Usha Martin's highest Return-on-Tangible-Equity was 44.60%. The lowest was -36.97%. And the median was 16.01%.
NSE:USHAMART's Return-on-Tangible-Equity is ranked better than 80.62% of 614
companies
in the Steel industry
Industry Median: 3.95
vs NSE:USHAMART: 12.02
Usha Martin (NSE:USHAMART) 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.
Usha Martin Return-on-Tangible-Equity Related Terms
Usha Martin Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Usha Martin'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:USHAMART vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, Usha Martin'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.
Usha Martin Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, Usha Martin's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Usha Martin'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 18.26% mean?
Usha Martin (NSE:USHAMART) has a Return-on-Tangible-Equity of 18.26% 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 Usha Martin and its competitors. This is 14% above median its historical median of 16.01. According to the industry distribution chart, Usha Martin ranks #119 out of 614 companies in the Steel industry, placing it in the top 19.4%.
Is Usha Martin's Return-on-Tangible-Equity too high?
Usha Martin's current Return-on-Tangible-Equity of 18.26% is 14% above median its 10-year median of 16.01. The Steel industry median Return-on-Tangible-Equity is 3.95. Usha Martin's value of 18.26% is 362.3% above this industry median. Based on the distribution chart, Usha Martin ranks #119 out of 614 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Usha Martin has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Usha Martin's Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, Usha Martin ranks #119 out of 614 companies for Return-on-Tangible-Equity. This places Usha Martin in the top 19% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 3.95. Usha Martin's value of 18.26% is 362.3% above this benchmark. While the company's 10-year median is 16.01 vs. the industry median of 3.95, Usha Martin 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 3.95, based on 614 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. Usha Martin's current Return-on-Tangible-Equity of 18.26% is 362.3% 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 Usha Martin and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 3.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Usha Martin's current Return-on-Tangible-Equity is 18.26%, which is 14% above median its own 10-year median of 16.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Usha Martin stock overvalued right now?
Based on GuruFocus' analysis, Usha Martin (NSE:USHAMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹416.26, compared to a current price of ₹514.10 — trading 23.5% above its estimated fair value. The current Return-on-Tangible-Equity is 18.26%, which is 14% above median its 10-year median of 16.01 and 362.3% above the Steel industry median of 3.95. Usha Martin's overall GF Score™ is 79/100 with 3 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 Usha Martin (NSE:USHAMART), the current Return-on-Tangible-Equity is 18.26% 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 Usha Martin (NSE:USHAMART) Overvalued in 2026?
Based on GuruFocus' analysis, Usha Martin stock appears to be overvalued.
The current stock price of ₹514.10 is trading 23.5% above its estimated GF Value™ of ₹416.26.
GuruFocus considers Usha Martin to be Modestly Overvalued.
Key valuation signals for NSE:USHAMART:
Return-on-Tangible-Equity: 18.26% (14% above median its 10-year median of 16.01)
GF Value™: ₹416.26 vs. price of ₹514.10 (23.5% above fair value)
Industry Position: 362.3% above the Steel median (#119 of 614)
No single metric tells the full story. See the NSE:USHAMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Usha Martin Ltd is engaged in the business of the production of wire rope. The company's operating segment includes Wire and wire ropes and others. It generates maximum revenue from the Wire and wire ropes segment. The wire and wire ropes segment manufactures and sells steel wires, strands, wire ropes, cords, related accessories, and others. Its Others segment includes the manufacturing and selling of wire drawing and allied machines and corporate office. Geographically, it derives a majority of revenue from India and also has its presence outside India.
79GF Score
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