Fortress Minerals (SGX:OAJ) ROCE %: 17.15% (As of May. 2026)

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.

SGX:OAJ Fortress Minerals Ltd SGX:OAJ
55 GF Score
Price S$0.24
GF Value S$0.33
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Fortress Minerals ROCE %?

Fortress Minerals SGX:OAJ -6.00% 55 ROCE % is 17.15% as of May. 2026. GuruFocus rates SGX:OAJ with a GF Score™ of 55/100 and a GF Value™ of S$0.33 (Modestly Undervalued). The stock has 4 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. Fortress Minerals's annualized ROCE % for the quarter that ended in May. 2026 was 17.15%.

Fortress Minerals  (SGX:OAJ) 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.

Fortress Minerals ROCE % Related Terms

Fortress Minerals ROCE % Historical Data

* Premium members only.

The historical data trend for Fortress Minerals'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.

Fortress Minerals ROCE % Chart

Fortress Minerals Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 30.52 24.17 19.08 13.41 14.27

Fortress Minerals Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 15.69 12.78 24.68 7.64 17.15
SGX:OAJ
55GF Score
Fortress Minerals Ltd SGX:OAJ
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fortress Minerals ROCE % Calculation

Fortress Minerals'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 )
=18.397/( ( (139.416 - 21.298) + (173.701 - 33.994) )/ 2 )
=18.397/( (118.118+139.707)/ 2 )
=18.397/128.9125
=14.27 %

Fortress Minerals's ROCE % of for the quarter that ended in May. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: May. 2026 )  (Q: Feb. 2026 )(Q: May. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: May. 2026 )  (Q: Feb. 2026 )(Q: May. 2026 )
=24.612/( ( (173.701 - 33.994) + (182.48 - 35.247) )/ 2 )
=24.612/( ( 139.707 + 147.233 )/ 2 )
=24.612/143.47
=17.15 %

(1) Note: The EBIT data used here is four times the quarterly (May. 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 17.15% mean?
Fortress Minerals (SGX:OAJ) has a ROCE % of 17.15% as of May. 2026.
Is Fortress Minerals' ROCE % too high?
Fortress Minerals' current ROCE % is 17.15%. The Steel industry median ROCE % is 5.75. Fortress Minerals' value of 17.15% is 198.3% above this industry median. Overall, Fortress Minerals has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fortress Minerals' ROCE % compare to NUE and STLD?
Fortress Minerals' ROCE % of 17.15% can be compared against companies in the Steel industry. The industry median ROCE % is 5.75. Fortress Minerals' value of 17.15% is 198.3% 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 Steel company?
The median ROCE % among Steel companies is 5.75, based on 620 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. Fortress Minerals's current ROCE % of 17.15% is 198.3% 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 Steel industry, the median ROCE % is 5.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fortress Minerals's current ROCE % is 17.15%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fortress Minerals stock overvalued right now?
Based on GuruFocus' analysis, Fortress Minerals (SGX:OAJ) is currently considered Modestly Undervalued. The stock's GF Value™ is S$0.33, compared to a current price of S$0.24 — trading 28.8% below its estimated fair value. The current ROCE % is 17.15% and 198.3% above the Steel industry median of 5.75. Fortress Minerals' overall GF Score™ is 55/100 with 4 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 Fortress Minerals (SGX:OAJ), the current ROCE % is 17.15% as of May. 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 Fortress Minerals (SGX:OAJ) Overvalued in 2026?

Based on GuruFocus' analysis, Fortress Minerals stock appears to be undervalued. The current stock price of S$0.24 is trading 28.8% below its estimated GF Value™ of S$0.33. GuruFocus considers Fortress Minerals to be Modestly Undervalued.

Key valuation signals for SGX:OAJ:

  • ROCE %: 17.15%
  • GF Value™: S$0.33 vs. price of S$0.24 (28.8% below fair value)
  • GF Score™: 55/100 with 4 warning signs
  • Industry Position: 198.3% above the Steel median

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

Fortress Minerals Business Description

Address 9-1, Jalan PJS 8/18, Dataran Mentari, Petaling Jaya, SGR, MYS, 46150
Fortress Minerals Ltd is an iron ore concentrate miner and exporter in Malaysia. The company engages in the exploration, mining, production, and sale of iron ore with low levels of impurities. It mines the iron ore from its East, Valley, and West Deposits of Bukit Besi Mine situated in the district of Dungun, state of Terengganu in Malaysia. It derives revenue from the sale of iron ore.
55GF Score

Get the complete analysis for SGX:OAJ

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

S$0.24
Price
S$0.33
GF Value