ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. TRX Gold's annualized net income for the quarter that ended in Feb. 2026 was C$-111.2 Mil. TRX Gold's average Total Stockholders Equity over the quarter that ended in Feb. 2026 was C$95.9 Mil. Therefore, TRX Gold's annualized ROE % for the quarter that ended in Feb. 2026 was -115.97%.
The historical rank and industry rank for TRX Gold's ROE % or its related term are showing as below:
TSX:TRX'
s ROE % Range Over the Past 10 Years
Min: -118.88 Med: -15.16 Max: 4.47
Current: -36
During the past 13 years, TRX Gold's highest ROE % was 4.47%. The lowest was -118.88%. And the median was -15.16%.
TSX:TRX's ROE % is ranked worse than 64.92% of 2389
companies
in the Metals & Mining industry
Industry Median: -16.14
vs TSX:TRX: -36.00
TRX Gold (TSX:TRX) 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 (Feb. 2026) net income data. The Revenue data used here is four times the quarterly (Feb. 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.
TRX Gold ROE % Related Terms
TRX Gold ROE % Historical Data
* Premium members only.
The historical data trend for TRX Gold'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 Gold subindustry, TRX Gold'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.
TRX Gold ROE % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, TRX Gold's ROE % distribution charts can be found below:
* The bar in red indicates where TRX Gold'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 (Feb. 2026) net income data.
ROE % is displayed in the 30-year financial page.
TRX Gold (TSX:TRX) has a ROE % of -115.97% as of Feb. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on TRX Gold and its competitors. According to the industry distribution chart, TRX Gold ranks #1551 out of 2389 companies in the Metals & Mining industry, placing it in the top 64.9%.
Is TRX Gold's ROE % too high?
TRX Gold's current ROE % is -115.97%. Based on the distribution chart, TRX Gold ranks #1551 out of 2389 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, TRX Gold has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TRX Gold's ROE % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, TRX Gold ranks #1551 out of 2389 companies for ROE %. This places TRX Gold in the lower half of its industry. 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 TRX Gold and its competitors. TRX Gold's current ROE % is -115.97%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TRX Gold stock overvalued right now?
Based on GuruFocus' analysis, TRX Gold (TSX:TRX) is currently considered Modestly Undervalued. The stock's GF Value™ is C$1.63, compared to a current price of C$1.22 — trading 25.2% below its estimated fair value. The current ROE % is -115.97%. TRX Gold's overall GF Score™ is 61/100 with 1 warning sign 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 TRX Gold (TSX:TRX), the current ROE % is -115.97% as of Feb. 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 TRX Gold (TSX:TRX) Overvalued in 2026?
Based on GuruFocus' analysis, TRX Gold stock appears to be undervalued.
The current stock price of C$1.22 is trading 25.2% below its estimated GF Value™ of C$1.63.
GuruFocus considers TRX Gold to be Modestly Undervalued.
Key valuation signals for TSX:TRX:
ROE %: -115.97%
GF Value™: C$1.63 vs. price of C$1.22 (25.2% below fair value)
No single metric tells the full story. See the TSX:TRX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TRX Gold Corp is engaged in the exploration, development, and production of mineral property interests in the United Republic of Tanzania, focused on development and mining operations, and on exploring and evaluating its mineral properties. The business of exploring and mining for minerals involves a high degree of risk, and the underlying value of the mineral properties depends on the existence and economic recovery of mineral resources and reserves, as well as the ability to raise long-term financing to continue development. The company is focused on the Buckreef Gold Project, which comprises five prospects: Buckreef, Bingwa, Tembo, Eastern Porphyry, and Buziba, and includes three main mineralized zones: Buckreef South, Buckreef Main, and Buckreef North.
61GF Score
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