Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Toplivo ADXBUL:TOPL 47 Return-on-Tangible-Equity is -4.44% as of Jun. 2025. GuruFocus rates XBUL:TOPL with a GF Score™ of 47/100 and a GF Value™ of €4.44 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 943 Oil & Gas companies, Toplivo AD ranks worse than 66.7% 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. Toplivo AD's annualized net income for the quarter that ended in Jun. 2025 was €-1.78 Mil. Toplivo AD's average shareholder tangible equity for the quarter that ended in Jun. 2025 was €40.16 Mil. Therefore, Toplivo AD's annualized Return-on-Tangible-Equity for the quarter that ended in Jun. 2025 was -4.44%.
The historical rank and industry rank for Toplivo AD's Return-on-Tangible-Equity or its related term are showing as below:
XBUL:TOPL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -8.67 Med: -5.55 Max: 0.19
Current: -0.06
During the past 13 years, Toplivo AD's highest Return-on-Tangible-Equity was 0.19%. The lowest was -8.67%. And the median was -5.55%.
XBUL:TOPL's Return-on-Tangible-Equity is ranked worse than 66.7% of 943
companies
in the Oil & Gas industry
Industry Median: 6.78
vs XBUL:TOPL: -0.06
Toplivo AD (XBUL:TOPL) 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.
Toplivo AD Return-on-Tangible-Equity Related Terms
Toplivo AD Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Toplivo AD'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.
XBUL:TOPL vs VLO, MPC, PSX: Return-on-Tangible-Equity Comparison
For the Oil & Gas Refining & Marketing subindustry, Toplivo AD'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.
Toplivo AD Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Toplivo AD's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Toplivo AD'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 (Jun. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -4.44% mean?
Toplivo AD (XBUL:TOPL) has a Return-on-Tangible-Equity of -4.44% as of Jun. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Toplivo AD and its competitors. According to the industry distribution chart, Toplivo AD ranks #629 out of 943 companies in the Oil & Gas industry, placing it in the top 66.7%.
Is Toplivo AD's Return-on-Tangible-Equity too high?
Toplivo AD's current Return-on-Tangible-Equity is -4.44%. Based on the distribution chart, Toplivo AD ranks #629 out of 943 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Toplivo AD has a GF Score™ of 47/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Toplivo AD's Return-on-Tangible-Equity compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Toplivo AD ranks #629 out of 943 companies for Return-on-Tangible-Equity. This places Toplivo AD in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.78. 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 Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.78, based on 943 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 Toplivo AD and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toplivo AD's current Return-on-Tangible-Equity is -4.44%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toplivo AD stock overvalued right now?
Based on GuruFocus' analysis, Toplivo AD (XBUL:TOPL) is currently considered Modestly Undervalued. The stock's GF Value™ is €4.44, compared to a current price of €3.90 — trading 12.2% below its estimated fair value. The current Return-on-Tangible-Equity is -4.44%. Toplivo AD's overall GF Score™ is 47/100 with 1 warning sign 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 Toplivo AD (XBUL:TOPL), the current Return-on-Tangible-Equity is -4.44% as of Jun. 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 Toplivo AD (XBUL:TOPL) Overvalued in 2026?
Based on GuruFocus' analysis, Toplivo AD stock appears to be undervalued.
The current stock price of €3.90 is trading 12.2% below its estimated GF Value™ of €4.44.
GuruFocus considers Toplivo AD to be Modestly Undervalued.
Key valuation signals for XBUL:TOPL:
Return-on-Tangible-Equity: -4.44%
GF Value™: €4.44 vs. price of €3.90 (12.2% below fair value)
No single metric tells the full story. See the XBUL:TOPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toplivo AD is engaged in the provision of petroleum products like propane-butane, liquid petrol and liquid petroleum gas. It also offers construction and heating materials like firewood, wooden materials, decorating tiles, briquettes, wood, and metals.
47GF Score
Get the complete analysis for XBUL:TOPL
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
XBUL:TOPL has been successfully added to your 
