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. Pender Growth Fund's annualized net income for the quarter that ended in Mar. 2026 was $-1.54 Mil. Pender Growth Fund's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $83.41 Mil. Therefore, Pender Growth Fund's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -1.85%.
The historical rank and industry rank for Pender Growth Fund's Return-on-Tangible-Equity or its related term are showing as below:
PNDDF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -95.09 Med: 5.66 Max: 123.71
Current: 1.16
During the past 13 years, Pender Growth Fund's highest Return-on-Tangible-Equity was 123.71%. The lowest was -95.09%. And the median was 5.66%.
PNDDF's Return-on-Tangible-Equity is ranked worse than 71.9% of 1587
companies
in the Asset Management industry
Industry Median: 7.18
vs PNDDF: 1.16
Pender Growth Fund (OTCPK:PNDDF) 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.
Pender Growth Fund Return-on-Tangible-Equity Related Terms
Pender Growth Fund Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Pender Growth Fund'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.
Pender Growth Fund Return-on-Tangible-Equity Chart
PNDDF vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Pender Growth Fund'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.
Pender Growth Fund Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Pender Growth Fund's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Pender Growth Fund'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 -1.85% mean?
Pender Growth Fund (PNDDF) has a Return-on-Tangible-Equity of -1.85% 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 Pender Growth Fund and its competitors. According to the industry distribution chart, Pender Growth Fund ranks #1141 out of 1587 companies in the Asset Management industry, placing it in the top 71.9%.
Is Pender Growth Fund's Return-on-Tangible-Equity too high?
Pender Growth Fund's current Return-on-Tangible-Equity is -1.85%. Based on the distribution chart, Pender Growth Fund ranks #1141 out of 1587 companies in the Asset Management industry, which is below the industry midpoint. Overall, Pender Growth Fund has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does Pender Growth Fund's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, Pender Growth Fund ranks #1141 out of 1587 companies for Return-on-Tangible-Equity. This places Pender Growth Fund in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.18. 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 Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.18, based on 1,587 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 Pender Growth Fund and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pender Growth Fund's current Return-on-Tangible-Equity is -1.85%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pender Growth Fund stock overvalued right now?
Pender Growth Fund (PNDDF) has a current Return-on-Tangible-Equity of -1.85%. The stock's GF Value™ is $0.55, compared to a current price of $6.78 — trading 1133.5% above its estimated fair value. The current Return-on-Tangible-Equity is -1.85%. Pender Growth Fund's overall GF Score™ is 47/100 with 4 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 Pender Growth Fund (PNDDF), the current Return-on-Tangible-Equity is -1.85% 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 Pender Growth Fund (PNDDF) Overvalued in 2026?
Based on GuruFocus' analysis, Pender Growth Fund stock appears to be overvalued.
The current stock price of $6.78 is trading 1133.5% above its estimated GF Value™ of $0.55.
Key valuation signals for PNDDF:
Return-on-Tangible-Equity: -1.85%
GF Value™: $0.55 vs. price of $6.78 (1133.5% above fair value)
No single metric tells the full story. See the PNDDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pender Growth Fund Inc is an asset management firm. The investment objective of the company is to achieve long-term capital growth from investment in opportunities identified by the Manager. The company generates its revenue in the form of dividends and interest. Its solutions include: All Fund Solutions; Equity; Fixed Income; Multi-Asset; Liquid Alternative; and Venture Capital.
47GF Score
Get the complete analysis for PNDDF
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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