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ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Asset Plus's annualized net income for the quarter that ended in Mar. 2026 was NZ$-9.54 Mil. Asset Plus's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was NZ$114.42 Mil. Therefore, Asset Plus's annualized ROE % for the quarter that ended in Mar. 2026 was -8.34%.
The historical rank and industry rank for Asset Plus's ROE % or its related term are showing as below:
NZSE:APL'
s ROE % Range Over the Past 10 Years
Min: -14.39 Med: -0.48 Max: 12.55
Current: -2.74
During the past 13 years, Asset Plus's highest ROE % was 12.55%. The lowest was -14.39%. And the median was -0.48%.
NZSE:APL's ROE % is ranked worse than 85.56% of 935
companies
in the REITs industry
Industry Median: 6.12
vs NZSE:APL: -2.74
Asset Plus (NZSE:APL) 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 (Mar. 2026) net income data. The Revenue data used here is two times the semi-annual (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.
Asset Plus ROE % Related Terms
Asset Plus ROE % Historical Data
* Premium members only.
The historical data trend for Asset Plus'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 REIT - Diversified subindustry, Asset Plus'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.
Asset Plus ROE % vs REITs Industry
For the REITs industry and Real Estate sector, Asset Plus's ROE % distribution charts can be found below:
* The bar in red indicates where Asset Plus'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 (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Asset Plus (NZSE:APL) has a ROE % of -8.34% 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 Asset Plus and its competitors. According to the industry distribution chart, Asset Plus ranks #800 out of 935 companies in the REITs industry, placing it in the top 85.6%.
Is Asset Plus' ROE % too high?
Asset Plus' current ROE % is -8.34%. Based on the distribution chart, Asset Plus ranks #800 out of 935 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Asset Plus has a GF Score™ of 43/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asset Plus' ROE % compare to VICI and WPC?
According to the REITs industry distribution chart, Asset Plus ranks #800 out of 935 companies for ROE %. This places Asset Plus in the lower half of its industry. The industry median ROE % is 6.12. 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 REITs company?
The median ROE % among REITs companies is 6.12, based on 935 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. 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 Asset Plus and its competitors. For the REITs industry, the median ROE % is 6.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asset Plus's current ROE % is -8.34%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asset Plus stock overvalued right now?
Based on GuruFocus' analysis, Asset Plus (NZSE:APL) is currently considered Modestly Undervalued. The stock's GF Value™ is NZ$0.23, compared to a current price of NZ$0.17 — trading 27.4% below its estimated fair value. The current ROE % is -8.34%. Asset Plus' overall GF Score™ is 43/100 with 2 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 Asset Plus (NZSE:APL), the current ROE % is -8.34% 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 Asset Plus (NZSE:APL) Overvalued in 2026?
Based on GuruFocus' analysis, Asset Plus stock appears to be undervalued.
The current stock price of NZ$0.17 is trading 27.4% below its estimated GF Value™ of NZ$0.23.
GuruFocus considers Asset Plus to be Modestly Undervalued.
Key valuation signals for NZSE:APL:
ROE %: -8.34%
GF Value™: NZ$0.23 vs. price of NZ$0.17 (27.4% below fair value)
No single metric tells the full story. See the NZSE:APL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asset Plus Ltd is a commercial property investment company. Its principal activities include investing in commercial property in New Zealand. The company's investment portfolio consists of office properties in New Zealand including the Munroe Lane property, and the 35 Graham Street property which is currently held for sale.
43GF Score
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