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.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. National Company KazMunayGaz JSC's annualizedNet Income for the quarter that ended in Jun. 2026 was ₸714,160 Mil.
National Company KazMunayGaz JSC's average Total Assets over the quarter that ended in Jun. 2026 was ₸18,986,737 Mil. Therefore, National Company KazMunayGaz JSC's annualized ROA % for the quarter that ended in Jun. 2026 was 3.76%.
National Company KazMunayGaz JSC (XKAZ:KMGZ) 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 (Jun. 2026) net income data. The Revenue data used here is four times the quarterly (Jun. 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.
National Company KazMunayGaz JSC ROA % Related Terms
National Company KazMunayGaz JSC ROA % Historical 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.
For the Oil & Gas Refining & Marketing subindustry, National Company KazMunayGaz JSC'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.
National Company KazMunayGaz JSC ROA % vs Oil & Gas Industry
* 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 (Jun. 2026) net income data.
ROA % is displayed in the 30-year financial page.
National Company KazMunayGaz JSC (XKAZ:KMGZ) has a ROA % of 3.76% as of Jun. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on National Company KazMunayGaz JSC and its competitors. This is 33% below median its historical median of 5.62. Over the past decade, National Company KazMunayGaz JSC's ROA % has ranged from 1.90 to 8.55. According to the industry distribution chart, National Company KazMunayGaz JSC ranks #250 out of 1035 companies in the Oil & Gas industry, placing it in the top 24.2%.
Is National Company KazMunayGaz JSC's ROA % too high?
National Company KazMunayGaz JSC's current ROA % of 3.76% is 33% below median its 10-year median of 5.62. Over the past 10 years, this metric has ranged from a low of 1.90 to a high of 8.55. The Oil & Gas industry median ROA % is 2.55. National Company KazMunayGaz JSC's value of 3.76% is 47.5% above this industry median. Based on the distribution chart, National Company KazMunayGaz JSC ranks #250 out of 1035 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, National Company KazMunayGaz JSC has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Company KazMunayGaz JSC's ROA % compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, National Company KazMunayGaz JSC ranks #250 out of 1035 companies for ROA %. This places National Company KazMunayGaz JSC in the top 24% of its industry — outperforming the majority of peers. The industry median ROA % is 2.55. National Company KazMunayGaz JSC's value of 3.76% is 47.5% above this benchmark. Historically, National Company KazMunayGaz JSC's own ROA % has ranged from 1.90 to 8.55 over the past decade. While the company's 10-year median is 5.62 vs. the industry median of 2.55, National Company KazMunayGaz JSC 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 Oil & Gas company?
The median ROA % among Oil & Gas companies is 2.55, based on 1,035 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. National Company KazMunayGaz JSC's current ROA % of 3.76% is 47.5% 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 National Company KazMunayGaz JSC and its competitors. For the Oil & Gas industry, the median ROA % is 2.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Company KazMunayGaz JSC's current ROA % is 3.76%, which is 33% below median its own 10-year median of 5.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Company KazMunayGaz JSC stock overvalued right now?
Based on GuruFocus' analysis, National Company KazMunayGaz JSC (XKAZ:KMGZ) is currently considered Significantly Overvalued. The stock's GF Value™ is ₸19,777.96, compared to a current price of ₸35,560.00 — trading 79.8% above its estimated fair value. The current ROA % is 3.76%, which is 33% below median its 10-year median of 5.62 and 47.5% above the Oil & Gas industry median of 2.55. National Company KazMunayGaz JSC's overall GF Score™ is 65/100 with 7 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 National Company KazMunayGaz JSC (XKAZ:KMGZ), the current ROA % is 3.76% as of Jun. 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 National Company KazMunayGaz JSC (XKAZ:KMGZ) Overvalued in 2026?
Based on GuruFocus' analysis, National Company KazMunayGaz JSC stock appears to be overvalued.
The current stock price of ₸35,560.00 is trading 79.8% above its estimated GF Value™ of ₸19,777.96.
GuruFocus considers National Company KazMunayGaz JSC to be Significantly Overvalued.
Key valuation signals for XKAZ:KMGZ:
ROA %: 3.76% (33% below median its 10-year median of 5.62)
GF Value™: ₸19,777.96 vs. price of ₸35,560.00 (79.8% above fair value)
Industry Position: 47.5% above the Oil & Gas median (#250 of 1035)
No single metric tells the full story. See the XKAZ:KMGZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Company KazMunayGaz JSC Group's activities comprise the exploration and production of oil and gas, transportation, refining, and marketing of hydrocarbons and petroleum products, with trading activities carried out in the Republic of Kazakhstan. The Group's activity consists of three main operating segments: exploration and production of oil and gas, oil transportation, and refining and trading of crude oil and refined products, which generates maximum revenue. It operates in the UAE, which generates maximum revenue, as well as in Kazakhstan, Romania, Switzerland, the Netherlands, and other countries.
65GF Score
Get the complete analysis for XKAZ:KMGZ
ROA % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKAZ:KMGZ has been successfully added to your 
