ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. SBM Offshore NV's annualized return on capital (ROC %) for the quarter that ended in Dec. 2025 was 12.17%.
As of today (2026-06-24), SBM Offshore NV's WACC % is 6.58%. SBM Offshore NV's ROC % is 9.74% (calculated using TTM income statement data).
SBM Offshore NV generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
SBM Offshore NV (HAM:IHCB) 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, SBM Offshore NV's WACC % is 6.58%. SBM Offshore NV's ROC % is 9.74% (calculated using TTM income statement data).
SBM Offshore NV generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
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.
SBM Offshore NV ROC % Related Terms
SBM Offshore NV ROC % Historical Data
* Premium members only.
The historical data trend for SBM Offshore NV'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.
Note:
The Operating Income data used here is two times the semi-annual (Dec. 2025) 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.
SBM Offshore NV (HAM:IHCB) has a ROC % of 12.17% as of Dec. 2025. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on SBM Offshore NV and its competitors.
Is SBM Offshore NV's ROC % too high?
SBM Offshore NV's current ROC % is 12.17%. The Oil & Gas industry median ROC % is 3.63. SBM Offshore NV's value of 12.17% is 235.7% above this industry median. Overall, SBM Offshore NV has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SBM Offshore NV's ROC % compare to SLB and BKR?
SBM Offshore NV's ROC % of 12.17% can be compared against companies in the Oil & Gas industry. The industry median ROC % is 3.63. SBM Offshore NV's value of 12.17% is 235.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC % for an Oil & Gas company?
The median ROC % among Oil & Gas companies is 3.63, based on 998 companies in the industry. Companies in the top quartile (top 25%) have a ROC % significantly above this median, while those in the bottom quartile fall well below. However, ROC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBM Offshore NV's current ROC % of 12.17% is 235.7% 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 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 SBM Offshore NV and its competitors. For the Oil & Gas industry, the median ROC % is 3.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBM Offshore NV's current ROC % is 12.17%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBM Offshore NV stock overvalued right now?
Based on GuruFocus' analysis, SBM Offshore NV (HAM:IHCB) is currently considered Significantly Overvalued. The stock's GF Value™ is €20.82, compared to a current price of €32.94 — trading 58.2% above its estimated fair value. The current ROC % is 12.17% and 235.7% above the Oil & Gas industry median of 3.63. SBM Offshore NV's overall GF Score™ is 73/100 with 2 warning signs 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 SBM Offshore NV (HAM:IHCB), the current ROC % is 12.17% as of Dec. 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 SBM Offshore NV (HAM:IHCB) Overvalued in 2026?
Based on GuruFocus' analysis, SBM Offshore NV stock appears to be overvalued.
The current stock price of €32.94 is trading 58.2% above its estimated GF Value™ of €20.82.
GuruFocus considers SBM Offshore NV to be Significantly Overvalued.
Key valuation signals for HAM:IHCB:
ROC %: 12.17%
GF Value™: €20.82 vs. price of €32.94 (58.2% above fair value)
Industry Position: 235.7% above the Oil & Gas median
No single metric tells the full story. See the HAM:IHCB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBM Offshore NV provides floating production solutions to the offshore energy industry both in hydrocarbon and renewable markets. Its main activities are the design, supply, installation, operation, and life extension of Floating Production Storage and Offloading (FPSO) vessels. The company is also working on floating offshore wind, wave energy, and research and development of products for future energy markets. It has dedicated product lines to provide specific floating equipment and products such as Turret Mooring Systems (TMS) and offshore (off)loading Terminals. The company has two segments: Lease and Operate segment includes all earned day rates on operating lease and operate contracts, and the turnkey segment includes revenues from Turnkey supply contracts and after-sales services.
73GF Score
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