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VZ Holding AGWBO:VZN +1.16%70 Return-on-Tangible-Equity is 23.12% as of Dec. 2025, which is 7% above its 10-year median of 21.68. GuruFocus rates WBO:VZN with a GF Score™ of 70/100 and a GF Value™ of €159.44 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,589 Asset Management companies, VZ Holding AG ranks better than 80.11% 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. VZ Holding AG's annualized net income for the quarter that ended in Dec. 2025 was €265.9 Mil. VZ Holding AG's average shareholder tangible equity for the quarter that ended in Dec. 2025 was €1,150.0 Mil. Therefore, VZ Holding AG's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 23.12%.
The historical rank and industry rank for VZ Holding AG's Return-on-Tangible-Equity or its related term are showing as below:
WBO:VZN'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 19.56 Med: 21.68 Max: 23.32
Current: 22.33
During the past 13 years, VZ Holding AG's highest Return-on-Tangible-Equity was 23.32%. The lowest was 19.56%. And the median was 21.68%.
WBO:VZN's Return-on-Tangible-Equity is ranked better than 80.11% of 1589
companies
in the Asset Management industry
Industry Median: 7.21
vs WBO:VZN: 22.33
VZ Holding AG (WBO:VZN) 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.
VZ Holding AG Return-on-Tangible-Equity Related Terms
VZ Holding AG Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for VZ Holding AG'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.
WBO:VZN vs BLK, BX, KKR: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, VZ Holding AG'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.
VZ Holding AG Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, VZ Holding AG's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where VZ Holding AG'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 (Dec. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 23.12% mean?
VZ Holding AG (WBO:VZN) has a Return-on-Tangible-Equity of 23.12% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on VZ Holding AG and its competitors. This is near median its historical median of 21.68. Over the past decade, VZ Holding AG's Return-on-Tangible-Equity has ranged from 19.56 to 23.32. According to the industry distribution chart, VZ Holding AG ranks #316 out of 1589 companies in the Asset Management industry, placing it in the top 19.9%.
Is VZ Holding AG's Return-on-Tangible-Equity too high?
VZ Holding AG's current Return-on-Tangible-Equity of 23.12% is near median its 10-year median of 21.68. Over the past 10 years, this metric has ranged from a low of 19.56 to a high of 23.32. The Asset Management industry median Return-on-Tangible-Equity is 7.21. VZ Holding AG's value of 23.12% is 220.7% above this industry median. Based on the distribution chart, VZ Holding AG ranks #316 out of 1589 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, VZ Holding AG has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does VZ Holding AG's Return-on-Tangible-Equity compare to BLK and BX?
According to the Asset Management industry distribution chart, VZ Holding AG ranks #316 out of 1589 companies for Return-on-Tangible-Equity. This places VZ Holding AG in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.21. VZ Holding AG's value of 23.12% is 220.7% above this benchmark. Historically, VZ Holding AG's own Return-on-Tangible-Equity has ranged from 19.56 to 23.32 over the past decade. While the company's 10-year median is 21.68 vs. the industry median of 7.21, VZ Holding AG 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 an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.21, based on 1,589 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. VZ Holding AG's current Return-on-Tangible-Equity of 23.12% is 220.7% 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 VZ Holding AG and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VZ Holding AG's current Return-on-Tangible-Equity is 23.12%, which is near median its own 10-year median of 21.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VZ Holding AG stock overvalued right now?
Based on GuruFocus' analysis, VZ Holding AG (WBO:VZN) is currently considered Fairly Valued. The stock's GF Value™ is €159.44, compared to a current price of €174.00 — trading 9.1% above its estimated fair value. The current Return-on-Tangible-Equity is 23.12%, which is near median its 10-year median of 21.68 and 220.7% above the Asset Management industry median of 7.21. VZ Holding AG's overall GF Score™ is 70/100 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 VZ Holding AG (WBO:VZN), the current Return-on-Tangible-Equity is 23.12% as of Dec. 2025. 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 VZ Holding AG (WBO:VZN) Overvalued in 2026?
Based on GuruFocus' analysis, VZ Holding AG stock appears to be overvalued.
The current stock price of €174.00 is trading 9.1% above its estimated GF Value™ of €159.44.
GuruFocus considers VZ Holding AG to be Fairly Valued.
Key valuation signals for WBO:VZN:
Return-on-Tangible-Equity: 23.12% (near median its 10-year median of 21.68)
GF Value™: €159.44 vs. price of €174.00 (9.1% above fair value)
Industry Position: 220.7% above the Asset Management median (#316 of 1589)
No single metric tells the full story. See the WBO:VZN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VZ Holding AG offers financial advisory services for individuals and companies in many areas. It provides Independent, transparent advice, a Consultation process, and wide-ranging advice such as retirement, real estate, mortgages, shareholdings, and insurance advice. It generates the majority of its revenue from management fees on assets under management.
70GF Score
Get the complete analysis for WBO:VZN
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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