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First HoldcoNSA:FIRSTHOLDCO -5.20%63 ROA % is 3.94% as of Mar. 2026, which is 220% above its 10-year median of 1.23. GuruFocus rates NSA:FIRSTHOLDCO with a GF Score™ of 63/100 and a GF Value™ of ₦36.61 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,532 Banks companies, First Holdco ranks worse than 77.81% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. First Holdco's annualizedNet Income for the quarter that ended in Mar. 2026 was ₦1,066,688 Mil.
First Holdco's average Total Assets over the quarter that ended in Mar. 2026 was ₦27,064,930 Mil. Therefore, First Holdco's annualized ROA % for the quarter that ended in Mar. 2026 was 3.94%.
The historical rank and industry rank for First Holdco's ROA % or its related term are showing as below:
NSA:FIRSTHOLDCO'
s ROA % Range Over the Past 10 Years
Min: 0.26 Med: 1.23 Max: 3.09
Current: 0.5
During the past 13 years, First Holdco's highest ROA % was 3.09%. The lowest was 0.26%. And the median was 1.23%.
NSA:FIRSTHOLDCO's ROA % is ranked worse than 77.81% of 1532
companies
in the Banks industry
Industry Median: 0.98
vs NSA:FIRSTHOLDCO: 0.50
First Holdco (NSA:FIRSTHOLDCO) 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 four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) 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.
First Holdco ROA % Related Terms
First Holdco ROA % Historical Data
* Premium members only.
The historical data trend for First Holdco'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.
For the Banks - Regional subindustry, First Holdco'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.
First Holdco ROA % vs Banks Industry
For the Banks industry and Financial Services sector, First Holdco's ROA % distribution charts can be found below:
* The bar in red indicates where First Holdco'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 four times the quarterly (Mar. 2026) net income data.
ROA % is displayed in the 30-year financial page.
First Holdco (NSA:FIRSTHOLDCO) has a ROA % of 3.94% as of Mar. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on First Holdco and its competitors. This is 220% above median its historical median of 1.23. Over the past decade, First Holdco's ROA % has ranged from 0.26 to 3.09. According to the industry distribution chart, First Holdco ranks #1192 out of 1532 companies in the Banks industry, placing it in the top 77.8%.
Is First Holdco's ROA % too high?
First Holdco's current ROA % of 3.94% is 220% above median its 10-year median of 1.23. Over the past 10 years, this metric has ranged from a low of 0.26 to a high of 3.09. The Banks industry median ROA % is 0.98. First Holdco's value of 3.94% is 302% above this industry median. Based on the distribution chart, First Holdco ranks #1192 out of 1532 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, First Holdco has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Holdco's ROA % compare to competitors?
According to the Banks industry distribution chart, First Holdco ranks #1192 out of 1532 companies for ROA %. This places First Holdco in the lower half of its industry. The industry median ROA % is 0.98. First Holdco's value of 3.94% is 302% above this benchmark. Historically, First Holdco's own ROA % has ranged from 0.26 to 3.09 over the past decade. While the company's 10-year median is 1.23 vs. the industry median of 0.98, First Holdco 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 a Banks company?
The median ROA % among Banks companies is 0.98, based on 1,532 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. First Holdco's current ROA % of 3.94% is 302% 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 First Holdco and its competitors. For the Banks industry, the median ROA % is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Holdco's current ROA % is 3.94%, which is 220% above median its own 10-year median of 1.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Holdco stock overvalued right now?
Based on GuruFocus' analysis, First Holdco (NSA:FIRSTHOLDCO) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦36.61, compared to a current price of ₦65.60 — trading 79.2% above its estimated fair value. The current ROA % is 3.94%, which is 220% above median its 10-year median of 1.23 and 302% above the Banks industry median of 0.98. First Holdco's overall GF Score™ is 63/100 with 5 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 First Holdco (NSA:FIRSTHOLDCO), the current ROA % is 3.94% 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 First Holdco (NSA:FIRSTHOLDCO) Overvalued in 2026?
Based on GuruFocus' analysis, First Holdco stock appears to be overvalued.
The current stock price of ₦65.60 is trading 79.2% above its estimated GF Value™ of ₦36.61.
GuruFocus considers First Holdco to be Significantly Overvalued.
Key valuation signals for NSA:FIRSTHOLDCO:
ROA %: 3.94% (220% above median its 10-year median of 1.23)
GF Value™: ₦36.61 vs. price of ₦65.60 (79.2% above fair value)
Industry Position: 302% above the Banks median (#1192 of 1532)
No single metric tells the full story. See the NSA:FIRSTHOLDCO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Holdco PLC is a Nigerian financial services Group. The principal activities of the company are mainly the provision of Commercial Banking, Investment Banking, Asset Management, Trusteeship, Securities Brokerage and Insurance Brokerage. Its reportable segments are 1. Commercial Banking Business Group: It provides both individual and corporate clients/ customers with financial intermediation services, 2 Investment Banking and Asset Management Business Group: It provides advisory, asset management, markets and private equity services to a large institutional (corporations and governments) clientele, as well as merchant banking services., and 3. Others. The majority of revenue is derived from the Commercial Banking Business Group. Geographically, key revenue is derived from Nigeria.
63GF Score
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