ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Tharisa's annualized return on capital (ROC %) for the quarter that ended in Mar. 2026 was 8.74%.
As of today (2026-06-26), Tharisa's WACC % is 10.67%. Tharisa's ROC % is 12.05% (calculated using TTM income statement data).
Tharisa 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.
Tharisa (JSE:THA) 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, Tharisa's WACC % is 10.67%. Tharisa's ROC % is 12.05% (calculated using TTM income statement data).
Tharisa 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.
Tharisa ROC % Related Terms
Tharisa ROC % Historical Data
* Premium members only.
The historical data trend for Tharisa'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 (Mar. 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.
Tharisa (JSE:THA) has a ROC % of 8.74% as of Mar. 2026. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Tharisa and its competitors.
Is Tharisa's ROC % too high?
Tharisa's current ROC % is 8.74%. Overall, Tharisa has a GF Score™ of 88/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tharisa's ROC % compare to HL?
Tharisa's ROC % of 8.74% 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 Tharisa and its competitors. Tharisa's current ROC % is 8.74%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tharisa stock overvalued right now?
Based on GuruFocus' analysis, Tharisa (JSE:THA) is currently considered Significantly Overvalued. The stock's GF Value™ is R17.83, compared to a current price of R24.30 — trading 36.3% above its estimated fair value. The current ROC % is 8.74%. Tharisa's overall GF Score™ is 88/100 with 7 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 Tharisa (JSE:THA), the current ROC % is 8.74% as of Mar. 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 Tharisa (JSE:THA) Overvalued in 2026?
Based on GuruFocus' analysis, Tharisa stock appears to be overvalued.
The current stock price of R24.30 is trading 36.3% above its estimated GF Value™ of R17.83.
GuruFocus considers Tharisa to be Significantly Overvalued.
Key valuation signals for JSE:THA:
ROC %: 8.74%
GF Value™: R17.83 vs. price of R24.30 (36.3% above fair value)
No single metric tells the full story. See the JSE:THA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tharisa PLC is an investment holding company. The company, along with its subsidiaries, is engaged in the exploitation of metals and minerals, principally PGMs and chrome and associated sales and logistics operations. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. The company operates through the following four segments: PGM segment, Chrome segment, Agency and trading segment, and Manufacturing segment. The majority of the revenue is derived from the Chrome segment. Geographically, it generates the maximum revenue from South Africa.
88GF Score
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