Keyence (FRA:KEE) ROCE %: 20.96% (As of Mar. 2026)

What is Keyence ROCE %?

Keyence FRA:KEE +0.89% 99 ROCE % is 20.96% as of Mar. 2026. GuruFocus rates FRA:KEE with a GF Score™ of 99/100 and a GF Value™ of €405.37 (Fairly Valued). 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. Keyence's annualized ROCE % for the quarter that ended in Mar. 2026 was 20.96%.

Keyence (FRA:KEE) 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.

Keyence ROCE % Related Terms

Keyence ROCE % Historical Data

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The historical data trend for Keyence'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.

Keyence ROCE % Chart

Keyence Annual Data

Trend

Mar15

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

ROCE %

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20.34

20.42

17.47

18.60

16.93

Keyence Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															19.88	16.16	17.34	16.95	20.96

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Keyence Corp FRA:KEE

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Keyence ROCE % Calculation

Keyence's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	3247.56	/	( ( (20411.788 - 1042.798)	+	(20009.217 - 1023.891) )	/ 2 )
	=	3247.56	/	( (19368.99	+	18985.326)	/ 2 )
	=	3247.56	/	19177.158
	=	16.93 %

Keyence's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	3911.252	/	( ( (19053.733 - 720.249)	+	(20009.217 - 1023.891) )	/ 2 )
	=	3911.252	/	( ( 18333.484	+	18985.326 )	/ 2 )
	=	3911.252	/	18659.405
	=	20.96 %

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

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 20.96% mean?

Keyence (FRA:KEE) has a ROCE % of 20.96% as of Mar. 2026.

Is Keyence's ROCE % too high?

Keyence's current ROCE % is 20.96%. The Hardware industry median ROCE % is 5.83. Keyence's value of 20.96% is 259.5% above this industry median. Overall, Keyence has a GF Score™ of 99/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Keyence's ROCE % compare to COHR and KEYS?

Keyence's ROCE % of 20.96% can be compared against companies in the Hardware industry. The industry median ROCE % is 5.83. Keyence's value of 20.96% is 259.5% 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 ROCE % for a Hardware company?

The median ROCE % among Hardware companies is 5.83, based on 2,445 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. Keyence's current ROCE % of 20.96% is 259.5% 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 ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Hardware industry, the median ROCE % is 5.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Keyence's current ROCE % is 20.96%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Keyence stock overvalued right now?

Based on GuruFocus' analysis, Keyence (FRA:KEE) is currently considered Fairly Valued. The stock's GF Value™ is €405.37, compared to a current price of €419.00 — trading 3.4% above its estimated fair value. The current ROCE % is 20.96% and 259.5% above the Hardware industry median of 5.83. Keyence's overall GF Score™ is 99/100 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 Keyence (FRA:KEE), the current ROCE % is 20.96% 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 Keyence (FRA:KEE) Overvalued in 2026?

Based on GuruFocus' analysis, Keyence stock appears to be overvalued. The current stock price of €419.00 is trading 3.4% above its estimated GF Value™ of €405.37. GuruFocus considers Keyence to be Fairly Valued.

Key valuation signals for FRA:KEE:

ROCE %: 20.96%
GF Value™: €405.37 vs. price of €419.00 (3.4% above fair value)
GF Score™: 99/100 with 4 warning signs
Industry Position: 259.5% above the Hardware median

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

Keyence Business Description

Industry Technology Hardware

Comparable Companies TSE:6856 TSE:7701 TSE:268A TSE:6754 TSE:6951 TSE:6777 TSE:6436 TSE:6814 TSE:6866 TSE:7721 COHR KEYS GRMN TPE:2360 TDY OSTO:HEXA B MKSI FTV TRMB CGNX

Other Exchanges KYCCF:USA KEYN:Mexico 6861:Japan KEE:Germany

Address 1-3-14 Higashinakajima, Higashiyodogawa-ku, Osaka, JPN, 533-8555

Website https://www.keyence.co.jp

Keyence Corporation, founded in May 1974 by Takemitsu Takizaki and headquartered in Osaka, Japan, began as Lead Electric Co., Ltd. before rebranding to Keyence (derived from "KEY of sciENCE") in 1986. As a global leader in industrial automation, the company designs and manufactures a comprehensive range of high-precision products, including sensors (photoelectric, laser, proximity), machine vision systems, measurement instruments (laser displacement sensors, 3D scanners), control systems (PLCs, HMIs), laser markers, digital microscopes, and safety equipment.

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€419.00

Price

€405.37

GF Value

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