Gapwaves AB (FRA:GW3) ROCE %: -67.00% (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:GW3 Gapwaves AB FRA:GW3
80 GF Score
Price €1.09
GF Value €1.69
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Gapwaves AB ROCE %?

Gapwaves AB FRA:GW3 -1.27% 80 ROCE % is -67.00% as of Jun. 2026. GuruFocus rates FRA:GW3 with a GF Score™ of 80/100 and a GF Value™ of €1.69 (Possible Value Trap). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Gapwaves AB's annualized ROCE % for the quarter that ended in Jun. 2026 was -67.00%.

Gapwaves AB  (FRA:GW3) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Gapwaves AB ROCE % Related Terms

Gapwaves AB ROCE % Historical Data

* Premium members only.

The historical data trend for Gapwaves AB's ROCE % 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.

Gapwaves AB ROCE % Chart

Gapwaves AB Annual Data
Trend Apr16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -23.50 -7.64 -35.95 -39.19 -52.53

Gapwaves AB Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -33.28 -95.58 -89.85 -44.62 -67.00
FRA:GW3
80GF Score
Gapwaves AB FRA:GW3
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Gapwaves AB ROCE % Calculation

Gapwaves AB's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=-5.244/( ( (11.388 - 2.304) + (15.235 - 4.353) )/ 2 )
=-5.244/( (9.084+10.882)/ 2 )
=-5.244/9.983
=-52.53 %

Gapwaves AB's ROCE % of for the quarter that ended in Jun. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Jun. 2026 )  (Q: Mar. 2026 )(Q: Jun. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Jun. 2026 )  (Q: Mar. 2026 )(Q: Jun. 2026 )
=-6.232/( ( (13.947 - 3.724) + (11.262 - 2.882) )/ 2 )
=-6.232/( ( 10.223 + 8.38 )/ 2 )
=-6.232/9.3015
=-67.00 %

(1) Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of -67.00% mean?
Gapwaves AB (FRA:GW3) has a ROCE % of -67.00% as of Jun. 2026.
Is Gapwaves AB's ROCE % too high?
Gapwaves AB's current ROCE % is -67.00%. Overall, Gapwaves AB has a GF Score™ of 80/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Gapwaves AB's ROCE % compare to CSCO and MSI?
Gapwaves AB's ROCE % of -67.00% can be compared against companies in the Hardware industry. The industry median ROCE % is 6.73. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Hardware company?
The median ROCE % among Hardware companies is 6.73, based on 2,451 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Hardware industry, the median ROCE % is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gapwaves AB's current ROCE % is -67.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gapwaves AB stock overvalued right now?
Based on GuruFocus' analysis, Gapwaves AB (FRA:GW3) is currently considered Possible Value Trap. The stock's GF Value™ is €1.69, compared to a current price of €1.09 — trading 35.6% below its estimated fair value. The current ROCE % is -67.00%. Gapwaves AB's overall GF Score™ is 80/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Gapwaves AB (FRA:GW3), the current ROCE % is -67.00% as of Jun. 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 Gapwaves AB (FRA:GW3) Overvalued in 2026?

Based on GuruFocus' analysis, Gapwaves AB stock appears to be undervalued. The current stock price of €1.09 is trading 35.6% below its estimated GF Value™ of €1.69. GuruFocus considers Gapwaves AB to be Possible Value Trap.

Key valuation signals for FRA:GW3:

  • ROCE %: -67.00%
  • GF Value™: €1.69 vs. price of €1.09 (35.6% below fair value)
  • GF Score™: 80/100 with 4 warning signs

No single metric tells the full story. See the FRA:GW3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Gapwaves AB Business Description

Other Exchanges GAPW B:Sweden0GF1:UK
Address Nellickevagen 22, Goteborg, SWE, SE- 412 63
Gapwaves AB is a Swedish technology company that develops, designs, manufactures, and delivers wireless solutions based on its patented waveguide technology for millimeter wave applications. Its products are mainly used in antennas for radar systems that support driver assistance, autonomous driving, and automotive safety solutions, along with applications in industrial automation, telecom, smart cities, and civil military sectors. It focuses on two key markets for waveguide antennas, namely radar and wireless communication, and is expanding the use of its technology in both areas. Its segments are Automotive, Smart Cities, Mobility, and Defense, each covering a range of growing application areas, and it has a geographic presence in Sweden, the European Union, and the rest of the world.
80GF Score

Get the complete analysis for FRA:GW3

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€1.09
Price
€1.69
GF Value