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 (Sep. 2025) net income data. The Revenue data used here is four times the quarterly (Sep. 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.
* 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 Conglomerates subindustry, Steel Partners Holdings LP'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.
Steel Partners Holdings LP ROE % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's ROE % distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings LP'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 (Sep. 2025) net income data.
ROE % is displayed in the 30-year financial page.
Steel Partners Holdings LP (SPLP) has a ROE % of 22.16% as of Sep. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Steel Partners Holdings LP and its competitors. This is 29% above median its historical median of 17.15.
Is Steel Partners Holdings LP's ROE % too high?
Steel Partners Holdings LP's current ROE % of 22.16% is 29% above median its 10-year median of 17.15. The Conglomerates industry median ROE % is 6.15. Steel Partners Holdings LP's value of 22.16% is 260.3% above this industry median. Overall, Steel Partners Holdings LP has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's ROE % compare to MATW and DLX?
Steel Partners Holdings LP's ROE % of 22.16% can be compared against companies in the Conglomerates industry. The industry median ROE % is 6.15. Steel Partners Holdings LP's value of 22.16% is 260.3% above this benchmark. While the company's 10-year median is 17.15 vs. the industry median of 6.15, Steel Partners Holdings LP 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 Conglomerates company?
The median ROE % among Conglomerates companies is 6.15, based on 557 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. Steel Partners Holdings LP's current ROE % of 22.16% is 260.3% 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 Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median ROE % is 6.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current ROE % is 22.16%, which is 29% above median its own 10-year median of 17.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current ROE % of 22.16%. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current ROE % is 22.16%, which is 29% above median its 10-year median of 17.15 and 260.3% above the Conglomerates industry median of 6.15. Steel Partners Holdings LP's overall GF Score™ is 66/100 with 4 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 Steel Partners Holdings LP (SPLP), the current ROE % is 22.16% as of Sep. 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 Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
ROE %: 22.16% (29% above median its 10-year median of 17.15)
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
Industry Position: 260.3% above the Conglomerates median
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
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