ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. 29Metals's annualized net income for the quarter that ended in Dec. 2025 was A$-22.3 Mil. 29Metals's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was A$451.0 Mil. Therefore, 29Metals's annualized ROE % for the quarter that ended in Dec. 2025 was -4.94%.
The historical rank and industry rank for 29Metals's ROE % or its related term are showing as below:
ASX:29M'
s ROE % Range Over the Past 10 Years
Min: -77.41 Med: -6.36 Max: 16.28
Current: 5.49
During the past 6 years, 29Metals's highest ROE % was 16.28%. The lowest was -77.41%. And the median was -6.36%.
ASX:29M's ROE % is ranked better than 78.15% of 2389
companies
in the Metals & Mining industry
Industry Median: -16.11
vs ASX:29M: 5.49
29Metals (ASX:29M) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is two times the semi-annual (Dec. 2025) net income data. The Revenue data used here is two times the semi-annual (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
29Metals ROE % Related Terms
29Metals ROE % Historical Data
* Premium members only.
The historical data trend for 29Metals's ROE % 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 Other Precious Metals & Mining subindustry, 29Metals's ROE %, along with its competitors' market caps and ROE % 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.
29Metals ROE % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, 29Metals's ROE % distribution charts can be found below:
* The bar in red indicates where 29Metals's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
29Metals (ASX:29M) has a ROE % of -4.94% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on 29Metals and its competitors. According to the industry distribution chart, 29Metals ranks #522 out of 2389 companies in the Metals & Mining industry, placing it in the top 21.9%.
Is 29Metals' ROE % too high?
29Metals' current ROE % is -4.94%. Based on the distribution chart, 29Metals ranks #522 out of 2389 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, 29Metals has a GF Score™ of 35/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does 29Metals' ROE % compare to HL?
According to the Metals & Mining industry distribution chart, 29Metals ranks #522 out of 2389 companies for ROE %. This places 29Metals in the top 22% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Metals & Mining company?
A good ROE % depends on the Metals & Mining industry context. However, ROE % 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on 29Metals and its competitors. 29Metals's current ROE % is -4.94%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 29Metals stock overvalued right now?
Based on GuruFocus' analysis, 29Metals (ASX:29M) is currently considered Modestly Overvalued. The stock's GF Value™ is A$0.19, compared to a current price of A$0.25 — trading 28.9% above its estimated fair value. The current ROE % is -4.94%. 29Metals' overall GF Score™ is 35/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For 29Metals (ASX:29M), the current ROE % is -4.94% 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 29Metals (ASX:29M) Overvalued in 2026?
Based on GuruFocus' analysis, 29Metals stock appears to be overvalued.
The current stock price of A$0.25 is trading 28.9% above its estimated GF Value™ of A$0.19.
GuruFocus considers 29Metals to be Modestly Overvalued.
Key valuation signals for ASX:29M:
ROE %: -4.94%
GF Value™: A$0.19 vs. price of A$0.25 (28.9% above fair value)
No single metric tells the full story. See the ASX:29M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver). The group has three reportable segments which are Golden Grove, Capricorn Copper, and Exploration (which includes Redhill and regional exploration activities at Golden Grove and Capricorn Copper), and the majority of company's revenue is generated from golden grove.
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