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ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Oil and Gas Exploration and Production AD's annualized return on capital (ROC %) for the quarter that ended in Dec. 2025 was -4.67%.
Oil and Gas Exploration and Production AD (XBUL:NGAZ) 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, Oil and Gas Exploration and Production AD's WACC % is 11.34%. Oil and Gas Exploration and Production AD's ROC % is -4.67% (calculated using TTM income statement data).
Oil and Gas Exploration and Production AD 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.
Oil and Gas Exploration and Production AD ROC % Related Terms
Oil and Gas Exploration and Production AD 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.
Oil and Gas Exploration and Production AD ROC % Chart
Oil and Gas Exploration and Production AD Annual Data
Note:
The Operating Income data used here is one times the 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.
Oil and Gas Exploration and Production AD (XBUL:NGAZ) has a ROC % of -4.67% as of Dec. 2025. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Oil and Gas Exploration and Production AD and its competitors.
Is Oil and Gas Exploration and Production AD's ROC % too high?
Oil and Gas Exploration and Production AD's current ROC % is -4.67%. Overall, Oil and Gas Exploration and Production AD has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Oil and Gas Exploration and Production AD's ROC % compare to COP and EOG?
Oil and Gas Exploration and Production AD's ROC % of -4.67% can be compared against companies in the Oil & Gas industry. The industry median ROC % is 3.79. 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 3.79, based on 997 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. 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 Oil and Gas Exploration and Production AD and its competitors. For the Oil & Gas industry, the median ROC % is 3.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Oil and Gas Exploration and Production AD's current ROC % is -4.67%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oil and Gas Exploration and Production AD stock overvalued right now?
Based on GuruFocus' analysis, Oil and Gas Exploration and Production AD (XBUL:NGAZ) is currently considered Significantly Undervalued. The stock's GF Value™ is €3.69, compared to a current price of €1.97 — trading 46.6% below its estimated fair value. The current ROC % is -4.67%. Oil and Gas Exploration and Production AD's overall GF Score™ is 63/100 with 4 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 Oil and Gas Exploration and Production AD (XBUL:NGAZ), the current ROC % is -4.67% 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 Oil and Gas Exploration and Production AD (XBUL:NGAZ) Overvalued in 2026?
Based on GuruFocus' analysis, Oil and Gas Exploration and Production AD stock appears to be undervalued.
The current stock price of €1.97 is trading 46.6% below its estimated GF Value™ of €3.69.
GuruFocus considers Oil and Gas Exploration and Production AD to be Significantly Undervalued.
Key valuation signals for XBUL:NGAZ:
ROC %: -4.67%
GF Value™: €3.69 vs. price of €1.97 (46.6% below fair value)
No single metric tells the full story. See the XBUL:NGAZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oil and Gas Exploration and Production AD Business Description
Oil and Gas Exploration and Production AD is engaged in prospecting, exploration, development and exploitation of oil and gas fields, as well as processing of crude oil. Some of the services provided by the company - design and conducting of 2D and 3D seismic data acquisition, geological and geophysical data processing and interpretation, mud logging, drilling of exploration and production wells for mineralized water and geothermal energy, well logging, among others.
63GF Score
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