MainfreightNZSE:MFT -1.88%94 Return-on-Tangible-Equity is 17.63% as of Mar. 2026, which is 32% below its 10-year median of 25.92. GuruFocus rates NZSE:MFT with a GF Score™ of 94/100 and a GF Value™ of NZ$71.04 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 978 Transportation companies, Mainfreight ranks better than 67.79% 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. Mainfreight's annualized net income for the quarter that ended in Mar. 2026 was NZ$315 Mil. Mainfreight's average shareholder tangible equity for the quarter that ended in Mar. 2026 was NZ$1,788 Mil. Therefore, Mainfreight's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 17.63%.
The historical rank and industry rank for Mainfreight's Return-on-Tangible-Equity or its related term are showing as below:
NZSE:MFT'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 13.81 Med: 25.92 Max: 35.14
Current: 14.27
During the past 13 years, Mainfreight's highest Return-on-Tangible-Equity was 35.14%. The lowest was 13.81%. And the median was 25.92%.
NZSE:MFT's Return-on-Tangible-Equity is ranked better than 67.79% of 978
companies
in the Transportation industry
Industry Median: 8.985
vs NZSE:MFT: 14.27
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.
Mainfreight Return-on-Tangible-Equity Related Terms
Mainfreight Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Mainfreight'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:MFT vs UPS, FDX, JBHT: Return-on-Tangible-Equity Comparison
For the Integrated Freight & Logistics subindustry, Mainfreight'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.
Mainfreight Return-on-Tangible-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, Mainfreight's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Mainfreight'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 17.63% mean?
Mainfreight (NZSE:MFT) has a Return-on-Tangible-Equity of 17.63% 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 Mainfreight and its competitors. This is 32% below median its historical median of 25.92. Over the past decade, Mainfreight's Return-on-Tangible-Equity has ranged from 13.81 to 35.14. According to the industry distribution chart, Mainfreight ranks #315 out of 978 companies in the Transportation industry, placing it in the top 32.2%.
Is Mainfreight's Return-on-Tangible-Equity too high?
Mainfreight's current Return-on-Tangible-Equity of 17.63% is 32% below median its 10-year median of 25.92. Over the past 10 years, this metric has ranged from a low of 13.81 to a high of 35.14. The Transportation industry median Return-on-Tangible-Equity is 8.99. Mainfreight's value of 17.63% is 96.2% above this industry median. Based on the distribution chart, Mainfreight ranks #315 out of 978 companies in the Transportation industry, which is above the industry midpoint. Overall, Mainfreight has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mainfreight's Return-on-Tangible-Equity compare to UPS and FDX?
According to the Transportation industry distribution chart, Mainfreight ranks #315 out of 978 companies for Return-on-Tangible-Equity. This puts Mainfreight in the upper half of its industry. The industry median Return-on-Tangible-Equity is 8.99. Mainfreight's value of 17.63% is 96.2% above this benchmark. Historically, Mainfreight's own Return-on-Tangible-Equity has ranged from 13.81 to 35.14 over the past decade. While the company's 10-year median is 25.92 vs. the industry median of 8.99, Mainfreight 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 Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 8.99, based on 978 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. Mainfreight's current Return-on-Tangible-Equity of 17.63% is 96.2% 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 Mainfreight and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 8.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mainfreight's current Return-on-Tangible-Equity is 17.63%, which is 32% below median its own 10-year median of 25.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mainfreight stock overvalued right now?
Based on GuruFocus' analysis, Mainfreight (NZSE:MFT) is currently considered Modestly Undervalued. The stock's GF Value™ is NZ$71.04, compared to a current price of NZ$62.00 — trading 12.7% below its estimated fair value. The current Return-on-Tangible-Equity is 17.63%, which is 32% below median its 10-year median of 25.92 and 96.2% above the Transportation industry median of 8.99. Mainfreight's overall GF Score™ is 94/100 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 Mainfreight (NZSE:MFT), the current Return-on-Tangible-Equity is 17.63% 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 Mainfreight (NZSE:MFT) Overvalued in 2026?
Based on GuruFocus' analysis, Mainfreight stock appears to be undervalued.
The current stock price of NZ$62.00 is trading 12.7% below its estimated GF Value™ of NZ$71.04.
GuruFocus considers Mainfreight to be Modestly Undervalued.
Key valuation signals for NZSE:MFT:
Return-on-Tangible-Equity: 17.63% (32% below median its 10-year median of 25.92)
GF Value™: NZ$71.04 vs. price of NZ$62.00 (12.7% below fair value)
Industry Position: 96.2% above the Transportation median (#315 of 978)
No single metric tells the full story. See the NZSE:MFT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mainfreight Ltd is in the supply chain logistics business. It provides the full spectrum of warehousing, Transport, and international air and ocean freight services. Geographically, it operates businesses in New Zealand, Australia, Europe, The Americas, Asia, and others.
94GF Score
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