Spear REIT (JSE:SEA) ROCE %: 18.49% (As of Feb. 2026)

What is Spear REIT ROCE %?

Spear REIT JSE:SEA +1.52% 65 ROCE % is 18.49% as of Feb. 2026. GuruFocus rates JSE:SEA with a GF Score™ of 65/100 and a GF Value™ of R7.03 (Significantly Overvalued). The stock has 11 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. Spear REIT's annualized ROCE % for the quarter that ended in Feb. 2026 was 18.49%.

Spear REIT (JSE:SEA) 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.

Spear REIT ROCE % Related Terms

Spear REIT ROCE % Historical Data

* Premium members only.

The historical data trend for Spear REIT'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.

Spear REIT ROCE % Chart

Spear REIT Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

ROCE %

Get a 7-Day Free Trial

7.51

7.85

12.98

14.06

15.50

Spear REIT Semi-Annual Data
	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														16.58	8.60	21.48	11.93	18.49

65GF Score

Spear REIT Ltd JSE:SEA

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

View Full Analysis

Spear REIT ROCE % Calculation

Spear REIT'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 )
	=	954.04	/	( ( (5640.936 - 655.684)	+	(7584.072 - 256.274) )	/ 2 )
	=	954.04	/	( (4985.252	+	7327.798)	/ 2 )
	=	954.04	/	6156.525
	=	15.50 %

Spear REIT'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 )
	=	1244.71	/	( ( (6523.185 - 384.548)	+	(7584.072 - 256.274) )	/ 2 )
	=	1244.71	/	( ( 6138.637	+	7327.798 )	/ 2 )
	=	1244.71	/	6733.2175
	=	18.49 %

(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 18.49% mean?

Spear REIT (JSE:SEA) has a ROCE % of 18.49% as of Feb. 2026.

Is Spear REIT's ROCE % too high?

Spear REIT's current ROCE % is 18.49%. The REITs industry median ROCE % is 5.19. Spear REIT's value of 18.49% is 256.6% above this industry median. Overall, Spear REIT has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Spear REIT's ROCE % compare to VICI and WPC?

Spear REIT's ROCE % of 18.49% can be compared against companies in the REITs industry. The industry median ROCE % is 5.19. Spear REIT's value of 18.49% is 256.6% 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 REITs company?

The median ROCE % among REITs companies is 5.19, based on 756 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. Spear REIT's current ROCE % of 18.49% is 256.6% 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 REITs industry, the median ROCE % is 5.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spear REIT's current ROCE % is 18.49%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Spear REIT stock overvalued right now?

Based on GuruFocus' analysis, Spear REIT (JSE:SEA) is currently considered Significantly Overvalued. The stock's GF Value™ is R7.03, compared to a current price of R13.40 — trading 90.6% above its estimated fair value. The current ROCE % is 18.49% and 256.6% above the REITs industry median of 5.19. Spear REIT's overall GF Score™ is 65/100 with 11 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 Spear REIT (JSE:SEA), the current ROCE % is 18.49% 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 Spear REIT (JSE:SEA) Overvalued in 2026?

Based on GuruFocus' analysis, Spear REIT stock appears to be overvalued. The current stock price of R13.40 is trading 90.6% above its estimated GF Value™ of R7.03. GuruFocus considers Spear REIT to be Significantly Overvalued.

Key valuation signals for JSE:SEA:

ROCE %: 18.49%
GF Value™: R7.03 vs. price of R13.40 (90.6% above fair value)
GF Score™: 65/100 with 11 warning signs
Industry Position: 256.6% above the REITs median

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

Spear REIT Business Description

Industry Real Estate REITs

Comparable Companies JSE:EMI JSE:HET JSE:BTN JSE:OCT JSE:SAC JSE:OAS JSE:ATT JSE:NRL ASX:GMG VICI WPC BSP:HSRE11 ASX:SGP XPAR:COV ASX:CHC ASX:GPT MEX:FUNO11 LSE:LAND LSE:BLND ASX:MGR

Address 2 Long Street, PO Box 50, 16th Floor, Observatory, 7935, Cape Town, ZAF, 8001

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

Spear REIT Ltd is a real estate investment trust. The company has five segments Industrial, Commercial, Retail, Development, and Non-property. The company generates majority of revenue from Industrial segment. The industrial portfolio comprises a diverse range of multi-let industrial properties, warehouses, logistics parks, and urban logistics facilities. The company has presence in Cape.

65GF Score

Get the complete analysis for JSE:SEA

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

R13.40

Price

R7.03

GF Value

View JSE:SEA Analysis

See ROCE % data for all stocks →