Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Contango Ore's annualizedNet Income for the quarter that ended in Dec. 2023 was $-110.47 Mil. Contango Ore's average total tangible assets for the quarter that ended in Dec. 2023 was $56.72 Mil. Therefore, Contango Ore's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was -194.75%.
The historical rank and industry rank for Contango Ore's Return-on-Tangible-Asset or its related term are showing as below:
CTGO'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -164.27 Med: -79.22 Max: 122.23
Current: -164.27
During the past 13 years, Contango Ore's highest Return-on-Tangible-Asset was 122.23%. The lowest was -164.27%. And the median was -79.22%.
CTGO's Return-on-Tangible-Asset is ranked worse than 91.34% of 2703
companies
in the Metals & Mining industry
Industry Median: -15.16
vs CTGO: -164.27
Contango Ore Return-on-Tangible-Asset Historical Data
The historical data trend for Contango Ore's Return-on-Tangible-Asset 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.
Competitive Comparison of Contango Ore's Return-on-Tangible-Asset
For the Gold subindustry, Contango Ore's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
Contango Ore's Return-on-Tangible-Asset Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Contango Ore's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Contango Ore's Return-on-Tangible-Asset falls into.
Contango Ore Return-on-Tangible-Asset Calculation
Contango Ore's annualized Return-on-Tangible-Asset for the fiscal year that ended in Jun. 2023 is calculated as:
* 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Contango Ore Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Contango Ore's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Contango Ore Inc operates in the United States. The company is engaged in the exploration of gold, silver, and copper ores in the State of Alaska. The company's primary focus is the exploration of a mineral lease with the Native Village of Tetlin whose governmental entity is the Tetlin Tribal Council for the exploration of minerals near Tok, Alaska. It has formed a joint venture to advance exploration of the Tetlin Property, which is prospective for gold and associated minerals. The Tetlin Property is located in the Tetlin Hills and Mentasta Mountains of eastern interior Alaska.
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