Enapter AG (HAM:H2O) ROCE %: -32.96% (As of Dec. 2025)


HAM:H2O Enapter AG HAM:H2O
55 GF Score
Price €1.25
GF Value €3.64
Valuation Possible Value Trap
! 8 Warning Signs
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What is Enapter AG ROCE %?

Enapter AG HAM:H2O +4.62% 55 ROCE % is -32.96% as of Dec. 2025. GuruFocus rates HAM:H2O with a GF Score™ of 55/100 and a GF Value™ of €3.64 (Possible Value Trap). The stock has 8 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. Enapter AG's annualized ROCE % for the quarter that ended in Dec. 2025 was -32.96%.

Enapter AG  (HAM:H2O) 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.

Enapter AG ROCE % Related Terms

Enapter AG ROCE % Historical Data

* Premium members only.

The historical data trend for Enapter AG'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.

Enapter AG ROCE % Chart

Enapter AG Annual Data
Trend Dec07 Dec08 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -27.88 -17.92 -2.22 -13.49 -27.33

Enapter AG Semi-Annual Data
Jun09 Jun11 Jan17 Jul17 Jan18 Jul18 Jan19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 10.67 -8.67 -18.20 -22.23 -32.96
HAM:H2O
55GF Score
Enapter AG HAM:H2O
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Enapter AG ROCE % Calculation

Enapter AG'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 )
=-26.08/( ( (143.237 - 39.935) + (141.331 - 53.792) )/ 2 )
=-26.08/( (103.302+87.539)/ 2 )
=-26.08/95.4205
=-27.33 %

Enapter AG's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=-30.108/( ( (145.562 - 50.421) + (141.331 - 53.792) )/ 2 )
=-30.108/( ( 95.141 + 87.539 )/ 2 )
=-30.108/91.34
=-32.96 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) 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 -32.96% mean?
Enapter AG (HAM:H2O) has a ROCE % of -32.96% as of Dec. 2025.
Is Enapter AG's ROCE % too high?
Enapter AG's current ROCE % is -32.96%. Overall, Enapter AG has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Enapter AG's ROCE % compare to GEV and ETN?
Enapter AG's ROCE % of -32.96% can be compared against companies in the Industrial Products industry. The industry median ROCE % is 7.10. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Industrial Products company?
The median ROCE % among Industrial Products companies is 7.10, based on 3,032 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 Industrial Products industry, the median ROCE % is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Enapter AG's current ROCE % is -32.96%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enapter AG stock overvalued right now?
Based on GuruFocus' analysis, Enapter AG (HAM:H2O) is currently considered Possible Value Trap. The stock's GF Value™ is €3.64, compared to a current price of €1.25 — trading 65.8% below its estimated fair value. The current ROCE % is -32.96%. Enapter AG's overall GF Score™ is 55/100 with 8 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 Enapter AG (HAM:H2O), the current ROCE % is -32.96% 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 Enapter AG (HAM:H2O) Overvalued in 2026?

Based on GuruFocus' analysis, Enapter AG stock appears to be undervalued. The current stock price of €1.25 is trading 65.8% below its estimated GF Value™ of €3.64. GuruFocus considers Enapter AG to be Possible Value Trap.

Key valuation signals for HAM:H2O:

  • ROCE %: -32.96%
  • GF Value™: €3.64 vs. price of €1.25 (65.8% below fair value)
  • GF Score™: 55/100 with 8 warning signs

No single metric tells the full story. See the HAM:H2O stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Enapter AG Business Description

Other Exchanges H2O:Germany
Address Reinhardtstr. 35, Berlin, BB, DEU, 10117
Enapter AG is engaged in research and development in the field of hydrogen systems with a focus on electrolysis, project management in Renewable Energy Systems and Smart-Grid Technology, software development for Smart Grid, Smart Energy and Industry 4.0 and Internet of Things (IoT), and manufacturing and production, design, planning, trading and resale of electrolysers and similar products and related software and control systems. Specifically, the Enapter Group develops and manufactures patented electrolysers based on Anion Exchange Membrane (AEM) technology. the Group had only one reportable segment which is the design and production of hydrogen generators based on patented anion exchange membrane electrolysis (AEM electrolysis) and pursues.
55GF Score

Get the complete analysis for HAM:H2O

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

€1.25
Price
€3.64
GF Value