ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. ANA Holdings's annualized return on capital (ROC %) for the quarter that ended in Mar. 2026 was 4.92%.
As of today (2026-06-27), ANA Holdings's WACC % is 3.41%. ANA Holdings's ROC % is 5.56% (calculated using TTM income statement data).
ANA Holdings 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.
ANA Holdings (LTS:0Q09) 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, ANA Holdings's WACC % is 3.41%. ANA Holdings's ROC % is 5.56% (calculated using TTM income statement data).
ANA Holdings 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.
ANA Holdings ROC % Related Terms
ANA Holdings ROC % Historical Data
* Premium members only.
The historical data trend for ANA Holdings'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 four times the quarterly (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.
ANA Holdings (LTS:0Q09) has a ROC % of 4.92% as of Mar. 2026. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on ANA Holdings and its competitors.
Is ANA Holdings' ROC % too high?
ANA Holdings' current ROC % is 4.92%. The Transportation industry median ROC % is 4.69. ANA Holdings' value of 4.92% is 4.9% above this industry median. Overall, ANA Holdings has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does ANA Holdings' ROC % compare to DAL and UAL?
ANA Holdings' ROC % of 4.92% can be compared against companies in the Transportation industry. The industry median ROC % is 4.69. ANA Holdings' value of 4.92% is 4.9% 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 a Transportation company?
The median ROC % among Transportation companies is 4.69, based on 994 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. ANA Holdings's current ROC % of 4.92% is 4.9% 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 ANA Holdings and its competitors. For the Transportation industry, the median ROC % is 4.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ANA Holdings's current ROC % is 4.92%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ANA Holdings stock overvalued right now?
ANA Holdings (LTS:0Q09) has a current ROC % of 4.92%. The stock's GF Value™ is CHF26.45, compared to a current price of CHF23.47 — trading 11.3% below its estimated fair value. The current ROC % is 4.92% and 4.9% above the Transportation industry median of 4.69. ANA Holdings' overall GF Score™ is 82/100 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 ANA Holdings (LTS:0Q09), the current ROC % is 4.92% 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 ANA Holdings (LTS:0Q09) Overvalued in 2026?
Based on GuruFocus' analysis, ANA Holdings stock appears to be undervalued.
The current stock price of CHF23.47 is trading 11.3% below its estimated GF Value™ of CHF26.45.
Key valuation signals for LTS:0Q09:
ROC %: 4.92%
GF Value™: CHF26.45 vs. price of CHF23.47 (11.3% below fair value)
Industry Position: 4.9% above the Transportation median
No single metric tells the full story. See the LTS:0Q09 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ANA Holdings is the holding firm of Japan's largest airline, All Nippon Airways. Besides the flagship carrier, ANA also owns discount airline Peach Aviation, Hokkaido-based Air Do, and airfreight carrier Nippon Cargo Airlines. Air Japan, which was launched to provide discount flights to Southeast Asia, will cease in 2026. Prior to covid-19, passenger transport made up over 50% of group revenue, split almost equally between domestic and international passenger routes while cargo revenue made up 4%-5%. Its primary hub is Tokyo's Narita International Airport, but it is also expanding routes from Haneda Airport. ANA has minor stakes in Philippine Airlines, Vietnam Airlines, and IHG ANA Hotels Group Japan. The latter is a hotel chain in Japan owned and operated by InterContinental Hotels Group.
82GF Score
Get the complete analysis for LTS:0Q09
ROC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LTS:0Q09 has been successfully added to your 
