HBM Nigeria (NSA:HBMNG) ROCE %: 71.02% (As of Mar. 2026)

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NSA:HBMNG HBM Nigeria PLC NSA:HBMNG
78 GF Score
Price ₦335.00
GF Value ₦128.48
Valuation Significantly Overvalued
! 5 Warning Signs
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What is HBM Nigeria ROCE %?

HBM Nigeria NSA:HBMNG 78 ROCE % is 71.02% as of Mar. 2026. GuruFocus rates NSA:HBMNG with a GF Score™ of 78/100 and a GF Value™ of ₦128.48 (Significantly Overvalued). The stock has 5 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. HBM Nigeria's annualized ROCE % for the quarter that ended in Mar. 2026 was 71.02%.

HBM Nigeria  (NSA:HBMNG) 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.

HBM Nigeria ROCE % Related Terms

HBM Nigeria ROCE % Historical Data

* Premium members only.

The historical data trend for HBM Nigeria'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.

HBM Nigeria ROCE % Chart

HBM Nigeria 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 17.10 17.14 18.05 28.96 59.60

HBM Nigeria Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 48.72 80.76 69.27 50.42 71.02
NSA:HBMNG
78GF Score
HBM Nigeria PLC NSA:HBMNG
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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HBM Nigeria ROCE % Calculation

HBM Nigeria'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 )
=412480.214/( ( (990509.585 - 397102.077) + (1208024.398 - 417362.631) )/ 2 )
=412480.214/( (593407.508+790661.767)/ 2 )
=412480.214/692034.6375
=59.60 %

HBM Nigeria's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=597180.044/( ( (1208024.398 - 417362.631) + (1372619.514 - 481646.261) )/ 2 )
=597180.044/( ( 790661.767 + 890973.253 )/ 2 )
=597180.044/840817.51
=71.02 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) 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 71.02% mean?
HBM Nigeria (NSA:HBMNG) has a ROCE % of 71.02% as of Mar. 2026.
Is HBM Nigeria's ROCE % too high?
HBM Nigeria's current ROCE % is 71.02%. The Building Materials industry median ROCE % is 5.90. HBM Nigeria's value of 71.02% is 1103.7% above this industry median. Overall, HBM Nigeria has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does HBM Nigeria's ROCE % compare to CRH and VMC?
HBM Nigeria's ROCE % of 71.02% can be compared against companies in the Building Materials industry. The industry median ROCE % is 5.90. HBM Nigeria's value of 71.02% is 1103.7% 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 Building Materials company?
The median ROCE % among Building Materials companies is 5.90, based on 405 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. HBM Nigeria's current ROCE % of 71.02% is 1103.7% 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 Building Materials industry, the median ROCE % is 5.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HBM Nigeria's current ROCE % is 71.02%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HBM Nigeria stock overvalued right now?
Based on GuruFocus' analysis, HBM Nigeria (NSA:HBMNG) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦128.48, compared to a current price of ₦335.00 — trading 160.7% above its estimated fair value. The current ROCE % is 71.02% and 1103.7% above the Building Materials industry median of 5.90. HBM Nigeria's overall GF Score™ is 78/100 with 5 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 HBM Nigeria (NSA:HBMNG), the current ROCE % is 71.02% as of Mar. 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 HBM Nigeria (NSA:HBMNG) Overvalued in 2026?

Based on GuruFocus' analysis, HBM Nigeria stock appears to be overvalued. The current stock price of ₦335.00 is trading 160.7% above its estimated GF Value™ of ₦128.48. GuruFocus considers HBM Nigeria to be Significantly Overvalued.

Key valuation signals for NSA:HBMNG:

  • ROCE %: 71.02%
  • GF Value™: ₦128.48 vs. price of ₦335.00 (160.7% above fair value)
  • GF Score™: 78/100 with 5 warning signs
  • Industry Position: 1103.7% above the Building Materials median

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

HBM Nigeria Business Description

Address No. 27B, Gerrard Road, Ikoyi, Lagos, NGA
Lafarge Africa PLC through its subsidiaries is engaged in manufacturing and marketing of cement, concrete, and aggregates products, including the provision of building solutions. The brands in products portfolio of the company includes ECOPlanet Unicem, Elephant cement, ThermoSet, Watershield, Powermax, and Supaset cement among others. It has two segments Cement & Readymix products. The majority of the revenue is generated from the cement segment.
78GF Score

Get the complete analysis for NSA:HBMNG

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

₦335.00
Price
₦128.48
GF Value