Combined Motor Holdings (JSE:CMH) ROCE %: 41.90% (As of Feb. 2026)

What is Combined Motor Holdings ROCE %?

Combined Motor Holdings JSE:CMH -0.46% 92 ROCE % is 41.90% as of Feb. 2026. GuruFocus rates JSE:CMH with a GF Score™ of 92/100 and a GF Value™ of R38.80 (Fairly Valued). The stock has 2 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. Combined Motor Holdings's annualized ROCE % for the quarter that ended in Feb. 2026 was 41.90%.

Combined Motor Holdings (JSE:CMH) 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.

Combined Motor Holdings ROCE % Related Terms

Combined Motor Holdings ROCE % Historical Data

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The historical data trend for Combined Motor Holdings'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.

Combined Motor Holdings ROCE % Chart

Combined Motor Holdings Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

ROCE %

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39.51

42.35

39.46

31.42

35.02

Combined Motor Holdings Semi-Annual Data
	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24	Aug24	Feb25	Aug25	Feb26
ROCE %	Get a 7-Day Free Trial															44.09	31.14	37.08	33.21	41.90

92GF Score

Combined Motor Holdings Ltd JSE:CMH

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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Combined Motor Holdings ROCE % Calculation

Combined Motor Holdings's annualized ROCE % for the fiscal year that ended in Feb. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Feb. 2026 )		(A: Feb. 2025 )		(A: Feb. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Feb. 2026 )		(A: Feb. 2025 )		(A: Feb. 2026 )
	=	810.934	/	( ( (5472.658 - 3196.802)	+	(5908.407 - 3553.077) )	/ 2 )
	=	810.934	/	( (2275.856	+	2355.33)	/ 2 )
	=	810.934	/	2315.593
	=	35.02 %

Combined Motor Holdings's ROCE % of for the quarter that ended in Feb. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Feb. 2026 )		(Q: Aug. 2025 )		(Q: Feb. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Feb. 2026 )		(Q: Aug. 2025 )		(Q: Feb. 2026 )
	=	912.136	/	( ( (5309.513 - 3310.649)	+	(5908.407 - 3553.077) )	/ 2 )
	=	912.136	/	( ( 1998.864	+	2355.33 )	/ 2 )
	=	912.136	/	2177.097
	=	41.90 %

(1) Note: The EBIT data used here is two times the semi-annual (Feb. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 41.90% mean?

Combined Motor Holdings (JSE:CMH) has a ROCE % of 41.90% as of Feb. 2026.

Is Combined Motor Holdings' ROCE % too high?

Combined Motor Holdings' current ROCE % is 41.90%. The Vehicles & Parts industry median ROCE % is 7.94. Combined Motor Holdings' value of 41.90% is 427.7% above this industry median. Overall, Combined Motor Holdings has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Combined Motor Holdings' ROCE % compare to CVNA and PAG?

Combined Motor Holdings' ROCE % of 41.90% can be compared against companies in the Vehicles & Parts industry. The industry median ROCE % is 7.94. Combined Motor Holdings' value of 41.90% is 427.7% 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 Vehicles & Parts company?

The median ROCE % among Vehicles & Parts companies is 7.94, based on 1,319 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. Combined Motor Holdings's current ROCE % of 41.90% is 427.7% 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 Vehicles & Parts industry, the median ROCE % is 7.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Combined Motor Holdings's current ROCE % is 41.90%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Combined Motor Holdings stock overvalued right now?

Based on GuruFocus' analysis, Combined Motor Holdings (JSE:CMH) is currently considered Fairly Valued. The stock's GF Value™ is R38.80, compared to a current price of R39.29 — trading 1.3% above its estimated fair value. The current ROCE % is 41.90% and 427.7% above the Vehicles & Parts industry median of 7.94. Combined Motor Holdings' overall GF Score™ is 92/100 with 2 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 Combined Motor Holdings (JSE:CMH), the current ROCE % is 41.90% as of Feb. 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 Combined Motor Holdings (JSE:CMH) Overvalued in 2026?

Based on GuruFocus' analysis, Combined Motor Holdings stock appears to be overvalued. The current stock price of R39.29 is trading 1.3% above its estimated GF Value™ of R38.80. GuruFocus considers Combined Motor Holdings to be Fairly Valued.

Key valuation signals for JSE:CMH:

ROCE %: 41.90%
GF Value™: R38.80 vs. price of R39.29 (1.3% above fair value)
GF Score™: 92/100 with 2 warning signs
Industry Position: 427.7% above the Vehicles & Parts median

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

Combined Motor Holdings Business Description

Industry Consumer Cyclical Vehicles & Parts

Comparable Companies JSE:MTA CVNA PAG XBRU:DIE ALTB TPE:2207 KMX LAD AN RUSHA TSE:4732 VVV OPLN ASX:APE ABG LSE:INCH GPI CARG TSX:BYD SAH

Address 1 Wilton Crescent, Umhlanga Ridge, Durban, ZAF, 4319

Website https://www.cmh.co.za

Combined Motor Holdings Ltd is a South Africa-based investment holding company engaged in motor retail and distribution, car hire, and financial services. The Company operates through four business segments: Motor Retail and Distribution, which generates maximum revenue and covers passenger, light commercial, and heavy commercial vehicles in both the volume and luxury categories; Car Hire, which offers a range of well-maintained vehicles for short- and long-term hire; Financial Services, which provides insurance underwriting facilities for products sold with new and used vehicles, including coverage for death, disability, dread disease, retrenchment, vehicle and component warranties, and vehicle financing through joint ventures with two finance houses; and Corporate Services and Other.

92GF Score

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

R39.29

Price

R38.80

GF Value

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