NICO HoldingsMSW:NICO -0.67%57 ROA % is 3.99% as of Dec. 2025, which is 35% above its 10-year median of 2.95. GuruFocus rates MSW:NICO with a GF Score™ of 57/100 and a GF Value™ of MWK728.26 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 508 Insurance companies, NICO Holdings ranks better than 66.34% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. NICO Holdings's annualizedNet Income for the quarter that ended in Dec. 2025 was MWK167,833 Mil.
NICO Holdings's average Total Assets over the quarter that ended in Dec. 2025 was MWK4,207,412 Mil. Therefore, NICO Holdings's annualized ROA % for the quarter that ended in Dec. 2025 was 3.99%.
The historical rank and industry rank for NICO Holdings's ROA % or its related term are showing as below:
MSW:NICO'
s ROA % Range Over the Past 10 Years
Min: 1.04 Med: 2.95 Max: 6.25
Current: 3.99
During the past 5 years, NICO Holdings's highest ROA % was 6.25%. The lowest was 1.04%. And the median was 2.95%.
MSW:NICO's ROA % is ranked better than 66.34% of 508
companies
in the Insurance industry
Industry Median: 2.7
vs MSW:NICO: 3.99
NICO Holdings (MSW:NICO) ROA % Explanation
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is one times the annual (Dec. 2025) net income data. The Revenue data used here is one times the annual (Dec. 2025) revenue data.
* 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
NICO Holdings ROA % Related Terms
NICO Holdings ROA % Historical Data
* Premium members only.
The historical data trend for NICO Holdings's ROA % 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.
NICO Holdings ROA % Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
ROA %
0.00
1.04
1.91
6.25
3.99
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
ROA %
0.00
1.04
1.91
6.25
3.99
MSW:NICO vs BRK.A, AIG, HIG: ROA % Comparison
For the Insurance - Diversified subindustry, NICO Holdings's ROA %, along with its competitors' market caps and ROA % 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.
NICO Holdings ROA % vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's ROA % distribution charts can be found below:
* The bar in red indicates where NICO Holdings's ROA % 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 ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is one times the annual (Dec. 2025) net income data.
ROA % is displayed in the 30-year financial page.
NICO Holdings (MSW:NICO) has a ROA % of 3.99% as of Dec. 2025. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on NICO Holdings and its competitors. This is 35% above median its historical median of 2.95. Over the past decade, NICO Holdings' ROA % has ranged from 1.04 to 6.25. According to the industry distribution chart, NICO Holdings ranks #171 out of 508 companies in the Insurance industry, placing it in the top 33.7%.
Is NICO Holdings' ROA % too high?
NICO Holdings' current ROA % of 3.99% is 35% above median its 10-year median of 2.95. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 6.25. The Insurance industry median ROA % is 2.70. NICO Holdings' value of 3.99% is 47.8% above this industry median. Based on the distribution chart, NICO Holdings ranks #171 out of 508 companies in the Insurance industry, which is above the industry midpoint. Overall, NICO Holdings has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' ROA % compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #171 out of 508 companies for ROA %. This puts NICO Holdings in the upper half of its industry. The industry median ROA % is 2.70. NICO Holdings' value of 3.99% is 47.8% above this benchmark. Historically, NICO Holdings' own ROA % has ranged from 1.04 to 6.25 over the past decade. While the company's 10-year median is 2.95 vs. the industry median of 2.70, NICO Holdings 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 ROA % for an Insurance company?
The median ROA % among Insurance companies is 2.70, based on 508 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NICO Holdings's current ROA % of 3.99% is 47.8% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on NICO Holdings and its competitors. For the Insurance industry, the median ROA % is 2.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current ROA % is 3.99%, which is 35% above median its own 10-year median of 2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Significantly Overvalued. The stock's GF Value™ is MWK728.26, compared to a current price of MWK1,600.16 — trading 119.7% above its estimated fair value. The current ROA % is 3.99%, which is 35% above median its 10-year median of 2.95 and 47.8% above the Insurance industry median of 2.70. NICO Holdings' overall GF Score™ is 57/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROA % calculated?
ROA % is calculated from a company's financial statements. For NICO Holdings (MSW:NICO), the current ROA % is 3.99% 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,600.16 is trading 119.7% above its estimated GF Value™ of MWK728.26.
GuruFocus considers NICO Holdings to be Significantly Overvalued.
Key valuation signals for MSW:NICO:
ROA %: 3.99% (35% above median its 10-year median of 2.95)
GF Value™: MWK728.26 vs. price of MWK1,600.16 (119.7% above fair value)
Industry Position: 47.8% above the Insurance median (#171 of 508)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
57GF Score
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