ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. VNE SpA's annualized return on capital (ROC %) for the quarter that ended in Dec. 2025 was 0.57%.
As of today (2026-06-24), VNE SpA's WACC % is 6.87%. VNE SpA's ROC % is 4.33% (calculated using TTM income statement data).
VNE SpA earns returns that do not match up to its cost of capital. It will destroy value as it grows.
VNE SpA (MIL:VNE) 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, VNE SpA's WACC % is 6.87%. VNE SpA's ROC % is 4.33% (calculated using TTM income statement data).
VNE SpA 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.
VNE SpA ROC % Related Terms
VNE SpA ROC % Historical Data
* Premium members only.
The historical data trend for VNE SpA'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.
VNE SpA (MIL:VNE) has a ROC % of 0.57% as of Dec. 2025. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on VNE SpA and its competitors.
Is VNE SpA's ROC % too high?
VNE SpA's current ROC % is 0.57%. The Industrial Products industry median ROC % is 5.23. VNE SpA's value of 0.57% is 89.1% below this industry median. Overall, VNE SpA has a GF Score™ of 33/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does VNE SpA's ROC % compare to GEV and ETN?
VNE SpA's ROC % of 0.57% can be compared against companies in the Industrial Products industry. The industry median ROC % is 5.23. VNE SpA's value of 0.57% is 89.1% below 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 Industrial Products company?
The median ROC % among Industrial Products companies is 5.23, based on 3,039 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. VNE SpA's current ROC % of 0.57% is 89.1% below 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 VNE SpA and its competitors. For the Industrial Products industry, the median ROC % is 5.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNE SpA's current ROC % is 0.57%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VNE SpA stock overvalued right now?
Based on GuruFocus' analysis, VNE SpA (MIL:VNE) is currently considered Possible Value Trap. The stock's GF Value™ is €3.72, compared to a current price of €2.40 — trading 35.5% below its estimated fair value. The current ROC % is 0.57% and 89.1% below the Industrial Products industry median of 5.23. VNE SpA's overall GF Score™ is 33/100 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 VNE SpA (MIL:VNE), the current ROC % is 0.57% 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 VNE SpA (MIL:VNE) Overvalued in 2026?
Based on GuruFocus' analysis, VNE SpA stock appears to be undervalued.
The current stock price of €2.40 is trading 35.5% below its estimated GF Value™ of €3.72.
GuruFocus considers VNE SpA to be Possible Value Trap.
Key valuation signals for MIL:VNE:
ROC %: 0.57%
GF Value™: €3.72 vs. price of €2.40 (35.5% below fair value)
Industry Position: 89.1% below the Industrial Products median
No single metric tells the full story. See the MIL:VNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VNE SpA produces hardware and software for the management of banknotes, coins, and, more generally, payments and transactions through cash and cashless systems, offering a wide range of customized products. It creates, samples, and produces all its appliances internally. The company offers consulting and commercial assistance all over the world through a stable and efficient operating network; moreover, it guarantees qualified and immediate maintenance and technical assistance anywhere on every type of machine. The main markets where the company operates internationally are gambling, retail & vending, casino & ticket, and wherever there is a need to manage payments or automated transactions.
33GF Score
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