Thungela Resources (LSE:TGA) ROCE %: -48.09% (As of Dec. 2025)


LSE:TGA Thungela Resources Ltd LSE:TGA
65 GF Score
Price £4.57
GF Value £5.22
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Thungela Resources ROCE %?

Thungela Resources LSE:TGA -6.26% 65 ROCE % is -48.09% as of Dec. 2025. GuruFocus rates LSE:TGA with a GF Score™ of 65/100 and a GF Value™ of £5.22 (Modestly Undervalued). The stock has 7 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. Thungela Resources's annualized ROCE % for the quarter that ended in Dec. 2025 was -48.09%.

Thungela Resources  (LSE:TGA) 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.

Thungela Resources ROCE % Related Terms

Thungela Resources ROCE % Historical Data

* Premium members only.

The historical data trend for Thungela 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.

Thungela Resources ROCE % Chart

Thungela Resources Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial 42.15 80.08 21.29 16.03 -20.09

Thungela Resources Semi-Annual Data
Dec18 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 19.92 12.22 20.41 4.99 -48.09
LSE:TGA
65GF Score
Thungela Resources Ltd LSE:TGA
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Thungela Resources ROCE % Calculation

Thungela 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 )
=-306.563/( ( (2087.413 - 355.942) + (1676.819 - 356.754) )/ 2 )
=-306.563/( (1731.471+1320.065)/ 2 )
=-306.563/1525.768
=-20.09 %

Thungela 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 )
=-702.414/( ( (1947.613 - 346.667) + (1676.819 - 356.754) )/ 2 )
=-702.414/( ( 1600.946 + 1320.065 )/ 2 )
=-702.414/1460.5055
=-48.09 %

(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 -48.09% mean?
Thungela Resources (LSE:TGA) has a ROCE % of -48.09% as of Dec. 2025.
Is Thungela Resources' ROCE % too high?
Thungela Resources' current ROCE % is -48.09%. Overall, Thungela Resources has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thungela Resources' ROCE % compare to CNR?
Thungela Resources' ROCE % of -48.09% can be compared against companies in the Other Energy Sources industry. The industry median ROCE % is 1.16. 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 Other Energy Sources company?
The median ROCE % among Other Energy Sources companies is 1.16, based on 177 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 Other Energy Sources industry, the median ROCE % is 1.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thungela Resources's current ROCE % is -48.09%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thungela Resources stock overvalued right now?
Based on GuruFocus' analysis, Thungela Resources (LSE:TGA) is currently considered Modestly Undervalued. The stock's GF Value™ is £5.22, compared to a current price of £4.57 — trading 12.5% below its estimated fair value. The current ROCE % is -48.09%. Thungela Resources' overall GF Score™ is 65/100 with 7 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 Thungela Resources (LSE:TGA), the current ROCE % is -48.09% 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 Thungela Resources (LSE:TGA) Overvalued in 2026?

Based on GuruFocus' analysis, Thungela Resources stock appears to be undervalued. The current stock price of £4.57 is trading 12.5% below its estimated GF Value™ of £5.22. GuruFocus considers Thungela Resources to be Modestly Undervalued.

Key valuation signals for LSE:TGA:

  • ROCE %: -48.09%
  • GF Value™: £5.22 vs. price of £4.57 (12.5% below fair value)
  • GF Score™: 65/100 with 7 warning signs

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

Thungela Resources Business Description

Address 25 Bath Avenue, Rosebank, Johannesburg, GT, ZAF, 2196
Thungela Resources Ltd is a pure-play producer and exporter of thermal coal with operations in South Africa and Australia. The group focuses on high-quality coal reserves and marketable production, positioning as a key player in the energy market by delivering coal through world-class ports, and powering nations. It owns interests in various mining operations, namely Goedehoop, Greenside, Isibonelo, Khwezela, AAIC, Mafube Coal Mining, and Butsanani Energy which consist of both underground and open cast mines located in the Mpumalanga province of South Africa. Its operational segments are Opencast, Underground, and Services.
65GF Score

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

£4.57
Price
£5.22
GF Value