FMANF (Freeman Gold) ROC %: -9.12% (As of Feb. 2026)


FMANF Freeman Gold Corp FMANF
24 GF Score
Price $0.21
! 1 Warning Sign
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What is Freeman Gold ROC %?

Freeman Gold FMANF +0.26% 24 ROC % is -9.12% as of Feb. 2026. GuruFocus rates FMANF with a GF Score™ of 24/100. The stock has 1 warning sign investors should review.

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Freeman Gold's annualized return on capital (ROC %) for the quarter that ended in Feb. 2026 was -9.12%.

As of today (2026-06-26), Freeman Gold's WACC % is 2.94%. Freeman Gold's ROC % is -16.14% (calculated using TTM income statement data). Freeman Gold earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Freeman Gold  (OTCPK:FMANF) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Freeman Gold's WACC % is 2.94%. Freeman Gold's ROC % is -16.14% (calculated using TTM income statement data). Freeman Gold earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Freeman Gold ROC % Related Terms

Freeman Gold ROC % Historical Data

* Premium members only.

The historical data trend for Freeman Gold's ROC % 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.

Freeman Gold ROC % Chart

Freeman Gold Annual Data
Trend Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
ROC %
Get a 7-Day Free Trial -28.42 -15.03 -6.70 -5.01 -15.17

Freeman Gold Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
ROC % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.64 -9.97 -33.37 -13.19 -9.12
FMANF
24GF Score
Freeman Gold Corp FMANF
ROC % is just one metric. See GF Score™, valuation, warning signs, and more.
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Freeman Gold ROC % Calculation

Freeman Gold's annualized Return on Capital (ROC %) for the fiscal year that ended in Nov. 2025 is calculated as:

ROC % (A: Nov. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (A: Nov. 2024 ) + Invested Capital (A: Nov. 2025 ))/ count )
=-3.227 * ( 1 - 0% )/( (19.011 + 23.538)/ 2 )
=-3.227/21.2745
=-15.17 %

where

Invested Capital(A: Nov. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=22.128 - 0.246 - ( 3.157 - max(0, 0.342 - 3.213+3.157))
=19.011

Invested Capital(A: Nov. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=31.505 - 0.484 - ( 8.316 - max(0, 1.054 - 8.537+8.316))
=23.538

Freeman Gold's annualized Return on Capital (ROC %) for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=-2.252 * ( 1 - 0% )/( (23.538 + 25.862)/ 2 )
=-2.252/24.7
=-9.12 %

where

Invested Capital(Q: Nov. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=31.505 - 0.484 - ( 8.316 - max(0, 1.054 - 8.537+8.316))
=23.538

Invested Capital(Q: Feb. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=32.565 - 1.06 - ( 7.444 - max(0, 1.921 - 7.564+7.444))
=25.862

Note: The Operating Income data used here is four times the quarterly (Feb. 2026) data. The tax rate is limited to between 0% and 100%.

* 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.

Frequently Asked Questions Learn more about ROC % →
What does a ROC % of -9.12% mean?
Freeman Gold (FMANF) has a ROC % of -9.12% as of Feb. 2026. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Freeman Gold and its competitors.
Is Freeman Gold's ROC % too high?
Freeman Gold's current ROC % is -9.12%. Overall, Freeman Gold has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Freeman Gold's ROC % compare to NEM and AU?
Freeman Gold's ROC % of -9.12% can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC % for a Metals & Mining company?
A good ROC % depends on the Metals & Mining industry context. However, ROC % 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 ROC % mean?
A high ROC % can signal that a stock is expensive relative to its fundamentals. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Freeman Gold and its competitors. Freeman Gold's current ROC % is -9.12%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Freeman Gold stock overvalued right now?
Freeman Gold (FMANF) has a current ROC % of -9.12%. The current ROC % is -9.12%. Freeman Gold's overall GF Score™ is 24/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC % calculated?
ROC % is calculated from a company's financial statements. For Freeman Gold (FMANF), the current ROC % is -9.12% 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.

Freeman Gold Business Description

Other Exchanges 3WU:GermanyFMAN:Canada
Address 1055 West Georgia Street, Suite 2125, Vancouver, BC, CAN, V6E 3P3
Freeman Gold Corp is a Canada-based mineral exploration and development company. The company mainly explores for gold. It is focused on the Lemhi gold project.
24GF Score

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ROC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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