Denison MinesTSX:DML +0.44%62 Return-on-Tangible-Equity is -146.22% as of Mar. 2026. GuruFocus rates TSX:DML with a GF Score™ of 62/100 and a GF Value™ of C$2.65 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 177 Other Energy Sources companies, Denison Mines ranks worse than 87.01% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Denison Mines's annualized net income for the quarter that ended in Mar. 2026 was C$-459.52 Mil. Denison Mines's average shareholder tangible equity for the quarter that ended in Mar. 2026 was C$314.26 Mil. Therefore, Denison Mines's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -146.22%.
The historical rank and industry rank for Denison Mines's Return-on-Tangible-Equity or its related term are showing as below:
TSX:DML'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -69.07 Med: -8.04 Max: 16.77
Current: -69.07
During the past 13 years, Denison Mines's highest Return-on-Tangible-Equity was 16.77%. The lowest was -69.07%. And the median was -8.04%.
TSX:DML's Return-on-Tangible-Equity is ranked worse than 87.01% of 177
companies
in the Other Energy Sources industry
Industry Median: 0.88
vs TSX:DML: -69.07
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.
Denison Mines Return-on-Tangible-Equity Related Terms
Denison Mines Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Denison Mines'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.
TSX:DML vs UEC, LEU: Return-on-Tangible-Equity Comparison
For the Uranium subindustry, Denison Mines'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.
Denison Mines Return-on-Tangible-Equity vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Denison Mines's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Denison Mines'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 -146.22% mean?
Denison Mines (TSX:DML) has a Return-on-Tangible-Equity of -146.22% 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 Denison Mines and its competitors. According to the industry distribution chart, Denison Mines ranks #154 out of 177 companies in the Other Energy Sources industry, placing it in the top 87%.
Is Denison Mines' Return-on-Tangible-Equity too high?
Denison Mines' current Return-on-Tangible-Equity is -146.22%. Based on the distribution chart, Denison Mines ranks #154 out of 177 companies in the Other Energy Sources industry, which is in the bottom quartile relative to peers. Overall, Denison Mines has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Denison Mines' Return-on-Tangible-Equity compare to UEC and LEU?
According to the Other Energy Sources industry distribution chart, Denison Mines ranks #154 out of 177 companies for Return-on-Tangible-Equity. This places Denison Mines in the lower half of its industry. The industry median Return-on-Tangible-Equity is 0.88. 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 Other Energy Sources company?
The median Return-on-Tangible-Equity among Other Energy Sources companies is 0.88, based on 177 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 Denison Mines and its competitors. For the Other Energy Sources industry, the median Return-on-Tangible-Equity is 0.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Denison Mines's current Return-on-Tangible-Equity is -146.22%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Denison Mines stock overvalued right now?
Based on GuruFocus' analysis, Denison Mines (TSX:DML) is currently considered Significantly Overvalued. The stock's GF Value™ is C$2.65, compared to a current price of C$4.54 — trading 71.3% above its estimated fair value. The current Return-on-Tangible-Equity is -146.22%. Denison Mines' overall GF Score™ is 62/100 with 8 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 Denison Mines (TSX:DML), the current Return-on-Tangible-Equity is -146.22% 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 Denison Mines (TSX:DML) Overvalued in 2026?
Based on GuruFocus' analysis, Denison Mines stock appears to be overvalued.
The current stock price of C$4.54 is trading 71.3% above its estimated GF Value™ of C$2.65.
GuruFocus considers Denison Mines to be Significantly Overvalued.
Key valuation signals for TSX:DML:
Return-on-Tangible-Equity: -146.22%
GF Value™: C$2.65 vs. price of C$4.54 (71.3% above fair value)
No single metric tells the full story. See the TSX:DML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Denison Mines Corp is engaged in uranium mining-related activities, including the acquisition, exploration, development, and mining of uranium-bearing properties, as well as the processing, sale, and investment in uranium. The company's key properties include Wheeler River, Waterbury Lake, McClean Lake, Midwest, and others. It operates through two segments: the Mining segment and the Corporate and Other segment. The majority of the company's revenue is generated from the Mining segment, which includes activities related to exploration, evaluation, and development, mining, milling (including toll milling), and the sale of mineral concentrates.
62GF Score
Get the complete analysis for TSX:DML
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSX:DML has been successfully added to your 
