Merafe Resources (JSE:MRF) ROCE %: -4.50% (As of Dec. 2025)


JSE:MRF Merafe Resources Ltd JSE:MRF
62 GF Score
Price R1.29
GF Value R0.99
Valuation Modestly Overvalued
! 9 Warning Signs
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What is Merafe Resources ROCE %?

Merafe Resources JSE:MRF +0.78% 62 ROCE % is -4.50% as of Dec. 2025. GuruFocus rates JSE:MRF with a GF Score™ of 62/100 and a GF Value™ of R0.99 (Modestly Overvalued). The stock has 9 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. Merafe Resources's annualized ROCE % for the quarter that ended in Dec. 2025 was -4.50%.

Merafe Resources  (JSE:MRF) 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.

Merafe Resources ROCE % Related Terms

Merafe Resources ROCE % Historical Data

* Premium members only.

The historical data trend for Merafe Resources'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.

Merafe Resources ROCE % Chart

Merafe Resources Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 71.35 44.31 45.15 16.28 3.69

Merafe Resources Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 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 31.60 34.63 -4.21 11.70 -4.50
JSE:MRF
62GF Score
Merafe Resources Ltd JSE:MRF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Merafe Resources ROCE % Calculation

Merafe Resources'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 )
=189.931/( ( (6142.297 - 925.703) + (6056.006 - 966.928) )/ 2 )
=189.931/( (5216.594+5089.078)/ 2 )
=189.931/5152.836
=3.69 %

Merafe Resources'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 )
=-233.088/( ( (6005.75 - 744.656) + (6056.006 - 966.928) )/ 2 )
=-233.088/( ( 5261.094 + 5089.078 )/ 2 )
=-233.088/5175.086
=-4.50 %

(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 -4.50% mean?
Merafe Resources (JSE:MRF) has a ROCE % of -4.50% as of Dec. 2025.
Is Merafe Resources' ROCE % too high?
Merafe Resources' current ROCE % is -4.50%. Overall, Merafe Resources has a GF Score™ of 62/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merafe Resources' ROCE % compare to competitors?
Merafe Resources' ROCE % of -4.50% can be compared against companies in the Metals & Mining industry. 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 Metals & Mining company?
A good ROCE % depends on the Metals & Mining industry context. 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. Merafe Resources's current ROCE % is -4.50%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merafe Resources stock overvalued right now?
Based on GuruFocus' analysis, Merafe Resources (JSE:MRF) is currently considered Modestly Overvalued. The stock's GF Value™ is R0.99, compared to a current price of R1.29 — trading 30.3% above its estimated fair value. The current ROCE % is -4.50%. Merafe Resources' overall GF Score™ is 62/100 with 9 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 Merafe Resources (JSE:MRF), the current ROCE % is -4.50% 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 Merafe Resources (JSE:MRF) Overvalued in 2026?

Based on GuruFocus' analysis, Merafe Resources stock appears to be overvalued. The current stock price of R1.29 is trading 30.3% above its estimated GF Value™ of R0.99. GuruFocus considers Merafe Resources to be Modestly Overvalued.

Key valuation signals for JSE:MRF:

  • ROCE %: -4.50%
  • GF Value™: R0.99 vs. price of R1.29 (30.3% above fair value)
  • GF Score™: 62/100 with 9 warning signs

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

Merafe Resources Business Description

Other Exchanges RZT:Germany
Address 35 Ballyclare Drive, Building B, 2nd Floor, Ballyoaks Office Park, Bryanston, Johannesburg, GT, ZAF, 2191
Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namel Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals. Geographically, it has its presence in Africa, Americas, Asia, China, Indonesia, Other Asia, and Europe.
62GF Score

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

R1.29
Price
R0.99
GF Value