ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Bulgarian Real Estate Fund REIT's annualized return on capital (ROC %) for the quarter that ended in Mar. 2026 was 4.48%.
As of today (2026-06-27), Bulgarian Real Estate Fund REIT's WACC % is 9.73%. Bulgarian Real Estate Fund REIT's ROC % is 6.75% (calculated using TTM income statement data).
Bulgarian Real Estate Fund REIT earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Bulgarian Real Estate Fund REIT (XBUL:BREF) 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, Bulgarian Real Estate Fund REIT's WACC % is 9.73%. Bulgarian Real Estate Fund REIT's ROC % is 6.75% (calculated using TTM income statement data).
Bulgarian Real Estate Fund REIT 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.
Bulgarian Real Estate Fund REIT ROC % Related Terms
Bulgarian Real Estate Fund REIT ROC % Historical Data
* 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.
Bulgarian Real Estate Fund REIT (XBUL:BREF) has a ROC % of 4.48% as of Mar. 2026. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Bulgarian Real Estate Fund REIT and its competitors.
Is Bulgarian Real Estate Fund REIT's ROC % too high?
Bulgarian Real Estate Fund REIT's current ROC % is 4.48%. The REITs industry median ROC % is 3.74. Bulgarian Real Estate Fund REIT's value of 4.48% is 19.8% above this industry median. Overall, Bulgarian Real Estate Fund REIT has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bulgarian Real Estate Fund REIT's ROC % compare to VICI and WPC?
Bulgarian Real Estate Fund REIT's ROC % of 4.48% can be compared against companies in the REITs industry. The industry median ROC % is 3.74. Bulgarian Real Estate Fund REIT's value of 4.48% is 19.8% 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 REITs company?
The median ROC % among REITs companies is 3.74, based on 749 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. Bulgarian Real Estate Fund REIT's current ROC % of 4.48% is 19.8% 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 Bulgarian Real Estate Fund REIT and its competitors. For the REITs industry, the median ROC % is 3.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bulgarian Real Estate Fund REIT's current ROC % is 4.48%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bulgarian Real Estate Fund REIT stock overvalued right now?
Based on GuruFocus' analysis, Bulgarian Real Estate Fund REIT (XBUL:BREF) is currently considered Possible Value Trap. The stock's GF Value™ is €15.70, compared to a current price of €2.74 — trading 82.5% below its estimated fair value. The current ROC % is 4.48% and 19.8% above the REITs industry median of 3.74. Bulgarian Real Estate Fund REIT's overall GF Score™ is 71/100 with 5 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 Bulgarian Real Estate Fund REIT (XBUL:BREF), the current ROC % is 4.48% 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 Bulgarian Real Estate Fund REIT (XBUL:BREF) Overvalued in 2026?
Based on GuruFocus' analysis, Bulgarian Real Estate Fund REIT stock appears to be undervalued.
The current stock price of €2.74 is trading 82.5% below its estimated GF Value™ of €15.70.
GuruFocus considers Bulgarian Real Estate Fund REIT to be Possible Value Trap.
Key valuation signals for XBUL:BREF:
ROC %: 4.48%
GF Value™: €15.70 vs. price of €2.74 (82.5% below fair value)
No single metric tells the full story. See the XBUL:BREF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bulgarian Real Estate Fund REIT Business Description
Bulgarian Real Estate Fund REIT is a special investment purpose joint-stock entity seated in the Republic of Bulgaria. The main activity of the fund is investing the cash funds raised through securities issuance in real property /securitization of real property/ through the purchase of ownership rights and other real rights over real property, carrying out construction and improvements therein for the purpose of making it available for management, renting, leasing and/or sale. Its investment objective is to achieve capital appreciation by means of diversified investments in business buildings, residential and other high-class properties, retail premises and agricultural land on the territory of Bulgaria.
71GF Score
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