BOC Kenya (NAI:BOC) ROCE %: 21.34% (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NAI:BOC BOC Kenya PLC NAI:BOC
72 GF Score
Price KES171.00
GF Value KES90.18
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is BOC Kenya ROCE %?

BOC Kenya NAI:BOC +0.44% 72 ROCE % is 21.34% as of Dec. 2025. GuruFocus rates NAI:BOC with a GF Score™ of 72/100 and a GF Value™ of KES90.18 (Significantly Overvalued). The stock has 3 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. BOC Kenya's annualized ROCE % for the quarter that ended in Dec. 2025 was 21.34%.

BOC Kenya  (NAI:BOC) 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.

BOC Kenya ROCE % Related Terms

BOC Kenya ROCE % Historical Data

* Premium members only.

The historical data trend for BOC Kenya'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.

BOC Kenya ROCE % Chart

BOC Kenya 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 10.59 13.13 17.80 15.72 21.34

BOC Kenya Semi-Annual Data
Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 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 10.59 13.13 17.80 15.72 21.34
NAI:BOC
72GF Score
BOC Kenya PLC NAI:BOC
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BOC Kenya ROCE % Calculation

BOC Kenya'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 )
=443.663/( ( (2250.36 - 293.973) + (2583.7 - 381.189) )/ 2 )
=443.663/( (1956.387+2202.511)/ 2 )
=443.663/2079.449
=21.34 %

BOC Kenya'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: Dec. 2024 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Dec. 2024 )(Q: Dec. 2025 )
=443.663/( ( (2250.36 - 293.973) + (2583.7 - 381.189) )/ 2 )
=443.663/( ( 1956.387 + 2202.511 )/ 2 )
=443.663/2079.449
=21.34 %

(1) Note: The EBIT data used here is one times the 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 21.34% mean?
BOC Kenya (NAI:BOC) has a ROCE % of 21.34% as of Dec. 2025.
Is BOC Kenya's ROCE % too high?
BOC Kenya's current ROCE % is 21.34%. The Chemicals industry median ROCE % is 6.54. BOC Kenya's value of 21.34% is 226.3% above this industry median. Overall, BOC Kenya has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BOC Kenya's ROCE % compare to DOW?
BOC Kenya's ROCE % of 21.34% can be compared against companies in the Chemicals industry. The industry median ROCE % is 6.54. BOC Kenya's value of 21.34% is 226.3% 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 Chemicals company?
The median ROCE % among Chemicals companies is 6.54, based on 1,589 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. BOC Kenya's current ROCE % of 21.34% is 226.3% 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 Chemicals industry, the median ROCE % is 6.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BOC Kenya's current ROCE % is 21.34%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BOC Kenya stock overvalued right now?
Based on GuruFocus' analysis, BOC Kenya (NAI:BOC) is currently considered Significantly Overvalued. The stock's GF Value™ is KES90.18, compared to a current price of KES171.00 — trading 89.6% above its estimated fair value. The current ROCE % is 21.34% and 226.3% above the Chemicals industry median of 6.54. BOC Kenya's overall GF Score™ is 72/100 with 3 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 BOC Kenya (NAI:BOC), the current ROCE % is 21.34% 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 BOC Kenya (NAI:BOC) Overvalued in 2026?

Based on GuruFocus' analysis, BOC Kenya stock appears to be overvalued. The current stock price of KES171.00 is trading 89.6% above its estimated GF Value™ of KES90.18. GuruFocus considers BOC Kenya to be Significantly Overvalued.

Key valuation signals for NAI:BOC:

  • ROCE %: 21.34%
  • GF Value™: KES90.18 vs. price of KES171.00 (89.6% above fair value)
  • GF Score™: 72/100 with 3 warning signs
  • Industry Position: 226.3% above the Chemicals median

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

BOC Kenya Business Description

Address 14 Kitui Road, off Kampala Road, P.O. Box 18010, Industrial Area, Nairobi, KEN, 00500
BOC Kenya PLC is involved in the manufacture and sale of industrial and medical gases and welding products. Its product range consists of Bulk gases, Packaged gases, and Engineering services. Bulk gases include liquid oxygen and liquid nitrogen. Packaged gases comprise medical gases, industrial gases, special gas mixtures, and liquefied petroleum gas. The engineering services include supplies of medical equipment, construction of medical and other gas pipelines, liquefied petroleum gas installations, tanks and pipelines, industrial gas storage and pipeline installations, and related maintenance services. The company generates the majority of its revenue from the sale of medical and industrial gases.
72GF Score

Get the complete analysis for NAI:BOC

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

KES171.00
Price
KES90.18
GF Value