Implenia AGXSWX:IMPN +1.56%58 Return-on-Tangible-Equity is 37.99% as of Dec. 2025, which is 67% above its 10-year median of 22.75. GuruFocus rates XSWX:IMPN with a GF Score™ of 58/100 and a GF Value™ of CHF35.34 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,704 Construction companies, Implenia AG ranks better than 85.68% 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. Implenia AG's annualized net income for the quarter that ended in Dec. 2025 was CHF101 Mil. Implenia AG's average shareholder tangible equity for the quarter that ended in Dec. 2025 was CHF267 Mil. Therefore, Implenia AG's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 37.99%.
The historical rank and industry rank for Implenia AG's Return-on-Tangible-Equity or its related term are showing as below:
XSWX:IMPN'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -99.64 Med: 22.75 Max: 131.98
Current: 33.45
During the past 13 years, Implenia AG's highest Return-on-Tangible-Equity was 131.98%. The lowest was -99.64%. And the median was 22.75%.
XSWX:IMPN's Return-on-Tangible-Equity is ranked better than 85.68% of 1704
companies
in the Construction industry
Industry Median: 8.245
vs XSWX:IMPN: 33.45
Implenia AG (XSWX:IMPN) 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.
Implenia AG Return-on-Tangible-Equity Related Terms
Implenia AG Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Implenia 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.
XSWX:IMPN vs PWR, FIX, EME: Return-on-Tangible-Equity Comparison
For the Engineering & Construction subindustry, Implenia 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.
Implenia AG Return-on-Tangible-Equity vs Construction Industry
For the Construction industry and Industrials sector, Implenia AG's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Implenia 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 37.99% mean?
Implenia AG (XSWX:IMPN) has a Return-on-Tangible-Equity of 37.99% 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 Implenia AG and its competitors. This is 67% above median its historical median of 22.75. According to the industry distribution chart, Implenia AG ranks #244 out of 1704 companies in the Construction industry, placing it in the top 14.3%.
Is Implenia AG's Return-on-Tangible-Equity too high?
Implenia AG's current Return-on-Tangible-Equity of 37.99% is 67% above median its 10-year median of 22.75. The Construction industry median Return-on-Tangible-Equity is 8.25. Implenia AG's value of 37.99% is 360.8% above this industry median. Based on the distribution chart, Implenia AG ranks #244 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Implenia AG has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Implenia AG's Return-on-Tangible-Equity compare to PWR and FIX?
According to the Construction industry distribution chart, Implenia AG ranks #244 out of 1704 companies for Return-on-Tangible-Equity. This places Implenia AG in the top 14% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.25. Implenia AG's value of 37.99% is 360.8% above this benchmark. While the company's 10-year median is 22.75 vs. the industry median of 8.25, Implenia 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 a Construction company?
The median Return-on-Tangible-Equity among Construction companies is 8.25, based on 1,704 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. Implenia AG's current Return-on-Tangible-Equity of 37.99% is 360.8% 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 Implenia AG and its competitors. For the Construction industry, the median Return-on-Tangible-Equity is 8.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Implenia AG's current Return-on-Tangible-Equity is 37.99%, which is 67% above median its own 10-year median of 22.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Implenia AG stock overvalued right now?
Based on GuruFocus' analysis, Implenia AG (XSWX:IMPN) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF35.34, compared to a current price of CHF71.80 — trading 103.2% above its estimated fair value. The current Return-on-Tangible-Equity is 37.99%, which is 67% above median its 10-year median of 22.75 and 360.8% above the Construction industry median of 8.25. Implenia AG's overall GF Score™ is 58/100 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 Implenia AG (XSWX:IMPN), the current Return-on-Tangible-Equity is 37.99% 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 Implenia AG (XSWX:IMPN) Overvalued in 2026?
Based on GuruFocus' analysis, Implenia AG stock appears to be overvalued.
The current stock price of CHF71.80 is trading 103.2% above its estimated GF Value™ of CHF35.34.
GuruFocus considers Implenia AG to be Significantly Overvalued.
Key valuation signals for XSWX:IMPN:
Return-on-Tangible-Equity: 37.99% (67% above median its 10-year median of 22.75)
GF Value™: CHF35.34 vs. price of CHF71.80 (103.2% above fair value)
Industry Position: 360.8% above the Construction median (#244 of 1704)
No single metric tells the full story. See the XSWX:IMPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Implenia AG is a construction service company. The company operates through four business segments: Buildings, Civil engineering, and Service Solutions. The company's projects include complex new construction, modernization work on existing properties, tunnel construction, civil engineering, and others. The company generates majority of its revenue from Civil engineering segments, and more than half of its revenue is earned in Switzerland.
58GF Score
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