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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. Asset Plus's annualized net income for the quarter that ended in Mar. 2026 was NZ$-9.54 Mil. Asset Plus's average shareholder tangible equity for the quarter that ended in Mar. 2026 was NZ$114.42 Mil. Therefore, Asset Plus's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -8.34%.
The historical rank and industry rank for Asset Plus's Return-on-Tangible-Equity or its related term are showing as below:
NZSE:APL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -14.39 Med: -0.48 Max: 12.55
Current: -2.74
During the past 13 years, Asset Plus's highest Return-on-Tangible-Equity was 12.55%. The lowest was -14.39%. And the median was -0.48%.
NZSE:APL's Return-on-Tangible-Equity is ranked worse than 85.44% of 934
companies
in the REITs industry
Industry Median: 6.225
vs NZSE:APL: -2.74
Asset Plus (NZSE:APL) 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.
Asset Plus Return-on-Tangible-Equity Related Terms
Asset Plus Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Asset Plus'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.
NZSE:APL vs VICI, WPC, BNL: Return-on-Tangible-Equity Comparison
For the REIT - Diversified subindustry, Asset Plus'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.
Asset Plus Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Asset Plus's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Asset Plus'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 two times the semi-annual (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 -8.34% mean?
Asset Plus (NZSE:APL) has a Return-on-Tangible-Equity of -8.34% 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 Asset Plus and its competitors. According to the industry distribution chart, Asset Plus ranks #798 out of 934 companies in the REITs industry, placing it in the top 85.4%.
Is Asset Plus' Return-on-Tangible-Equity too high?
Asset Plus' current Return-on-Tangible-Equity is -8.34%. Based on the distribution chart, Asset Plus ranks #798 out of 934 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Asset Plus has a GF Score™ of 43/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asset Plus' Return-on-Tangible-Equity compare to VICI and WPC?
According to the REITs industry distribution chart, Asset Plus ranks #798 out of 934 companies for Return-on-Tangible-Equity. This places Asset Plus in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.23. 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 REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.23, based on 934 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. 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 Asset Plus and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asset Plus's current Return-on-Tangible-Equity is -8.34%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asset Plus stock overvalued right now?
Based on GuruFocus' analysis, Asset Plus (NZSE:APL) is currently considered Modestly Undervalued. The stock's GF Value™ is NZ$0.23, compared to a current price of NZ$0.17 — trading 27.4% below its estimated fair value. The current Return-on-Tangible-Equity is -8.34%. Asset Plus' overall GF Score™ is 43/100 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 Asset Plus (NZSE:APL), the current Return-on-Tangible-Equity is -8.34% 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 Asset Plus (NZSE:APL) Overvalued in 2026?
Based on GuruFocus' analysis, Asset Plus stock appears to be undervalued.
The current stock price of NZ$0.17 is trading 27.4% below its estimated GF Value™ of NZ$0.23.
GuruFocus considers Asset Plus to be Modestly Undervalued.
Key valuation signals for NZSE:APL:
Return-on-Tangible-Equity: -8.34%
GF Value™: NZ$0.23 vs. price of NZ$0.17 (27.4% below fair value)
No single metric tells the full story. See the NZSE:APL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asset Plus Ltd is a commercial property investment company. Its principal activities include investing in commercial property in New Zealand. The company's investment portfolio consists of office properties in New Zealand including the Munroe Lane property, and the 35 Graham Street property which is currently held for sale.
43GF Score
Get the complete analysis for NZSE:APL
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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