Millat TractorsKAR:MTL 78 ROE % is 148.97% as of Mar. 2026, which is 144% above its 10-year median of 61.02. GuruFocus rates KAR:MTL with a GF Score™ of 78/100 and a GF Value™ of ₨211.73 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 204 Farm & Heavy Construction Machinery companies, Millat Tractors ranks better than 99.51% on this metric.
The historical rank and industry rank for Millat Tractors's ROE % or its related term are showing as below:
KAR:MTL'
s ROE % Range Over the Past 10 Years
Min: 35.9 Med: 61.02 Max: 101.82
Current: 88.42
During the past 13 years, Millat Tractors's highest ROE % was 101.82%. The lowest was 35.90%. And the median was 61.02%.
KAR:MTL's ROE % is ranked better than 99.51% of 204
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 7.315
vs KAR:MTL: 88.42
Millat Tractors (KAR:MTL) 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 four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) 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.
Millat Tractors ROE % Related Terms
Millat Tractors ROE % Historical Data
* Premium members only.
The historical data trend for Millat Tractors'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 Farm & Heavy Construction Machinery subindustry, Millat Tractors'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.
Millat Tractors ROE % vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Millat Tractors's ROE % distribution charts can be found below:
* The bar in red indicates where Millat Tractors'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 four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Millat Tractors (KAR:MTL) has a ROE % of 148.97% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Millat Tractors and its competitors. This is 144% above median its historical median of 61.02. Over the past decade, Millat Tractors' ROE % has ranged from 35.90 to 101.82. According to the industry distribution chart, Millat Tractors ranks #1 out of 204 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 0.5%.
Is Millat Tractors' ROE % too high?
Millat Tractors' current ROE % of 148.97% is 144% above median its 10-year median of 61.02. Over the past 10 years, this metric has ranged from a low of 35.90 to a high of 101.82. The Farm & Heavy Construction Machinery industry median ROE % is 7.32. Millat Tractors' value of 148.97% is 1936.5% above this industry median. Based on the distribution chart, Millat Tractors ranks #1 out of 204 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Millat Tractors has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Millat Tractors' ROE % compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Millat Tractors ranks #1 out of 204 companies for ROE %. This places Millat Tractors in the top 1% of its industry — outperforming the majority of peers. The industry median ROE % is 7.32. Millat Tractors' value of 148.97% is 1936.5% above this benchmark. Historically, Millat Tractors' own ROE % has ranged from 35.90 to 101.82 over the past decade. While the company's 10-year median is 61.02 vs. the industry median of 7.32, Millat Tractors 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 ROE % for a Farm & Heavy Construction Machinery company?
The median ROE % among Farm & Heavy Construction Machinery companies is 7.32, based on 204 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Millat Tractors's current ROE % of 148.97% is 1936.5% 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 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 Millat Tractors and its competitors. For the Farm & Heavy Construction Machinery industry, the median ROE % is 7.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Millat Tractors's current ROE % is 148.97%, which is 144% above median its own 10-year median of 61.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Millat Tractors stock overvalued right now?
Based on GuruFocus' analysis, Millat Tractors (KAR:MTL) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨211.73, compared to a current price of ₨310.22 — trading 46.5% above its estimated fair value. The current ROE % is 148.97%, which is 144% above median its 10-year median of 61.02 and 1936.5% above the Farm & Heavy Construction Machinery industry median of 7.32. Millat Tractors' overall GF Score™ is 78/100 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 Millat Tractors (KAR:MTL), the current ROE % is 148.97% 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 Millat Tractors (KAR:MTL) Overvalued in 2026?
Based on GuruFocus' analysis, Millat Tractors stock appears to be overvalued.
The current stock price of ₨310.22 is trading 46.5% above its estimated GF Value™ of ₨211.73.
GuruFocus considers Millat Tractors to be Significantly Overvalued.
Key valuation signals for KAR:MTL:
ROE %: 148.97% (144% above median its 10-year median of 61.02)
GF Value™: ₨211.73 vs. price of ₨310.22 (46.5% above fair value)
Industry Position: 1936.5% above the Farm & Heavy Construction Machinery median (#1 of 204)
No single metric tells the full story. See the KAR:MTL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Millat Tractors Ltd operates in the automobile sector. It is engaged in assembling and manufacturing of agricultural tractors, implements and multi-application products. The Company is also involved in the sale, implementation and support of IFS applications in Pakistan and abroad. The company's operating segment includes Tractors; Tractor components; Castings and Others. It generates maximum revenue from the Tractors segment. The tractor components segment is engaged in the business of manufacturing automotive, agricultural and industrial vehicle parts and components.
78GF Score
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