Imperial Brands (STU:ITBA) ROCE %: 12.53% (As of Mar. 2026)


STU:ITBA Imperial Brands PLC STU:ITBA
72 GF Score
Price €32.20
GF Value €20.71
! 3 Warning Signs
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What is Imperial Brands ROCE %?

Imperial Brands STU:ITBA 72 ROCE % is 12.53% as of Mar. 2026. GuruFocus rates STU:ITBA with a GF Score™ of 72/100 and a GF Value™ of €20.71. 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. Imperial Brands's annualized ROCE % for the quarter that ended in Mar. 2026 was 12.53%.

Imperial Brands  (STU:ITBA) 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.

Imperial Brands ROCE % Related Terms

Imperial Brands ROCE % Historical Data

* Premium members only.

The historical data trend for Imperial Brands'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.

Imperial Brands ROCE % Chart

Imperial Brands Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 20.27 22.18 19.46 20.85 21.21

Imperial Brands Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 16.86 26.92 18.82 24.73 12.53
STU:ITBA
72GF Score
Imperial Brands PLC STU:ITBA
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Imperial Brands ROCE % Calculation

Imperial Brands's annualized ROCE % for the fiscal year that ended in Sep. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Sep. 2025 )  (A: Sep. 2024 )(A: Sep. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Sep. 2025 )  (A: Sep. 2024 )(A: Sep. 2025 )
=4126.443/( ( (33162.997 - 13660.399) + (33061.054 - 13648.119) )/ 2 )
=4126.443/( (19502.598+19412.935)/ 2 )
=4126.443/19457.7665
=21.21 %

Imperial Brands'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: Sep. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Sep. 2025 )(Q: Mar. 2026 )
=2392.014/( ( (33061.054 - 13648.119) + (32560.907 - 13782.333) )/ 2 )
=2392.014/( ( 19412.935 + 18778.574 )/ 2 )
=2392.014/19095.7545
=12.53 %

(1) Note: The EBIT data used here is two times the semi-annual (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 12.53% mean?
Imperial Brands (STU:ITBA) has a ROCE % of 12.53% as of Mar. 2026.
Is Imperial Brands' ROCE % too high?
Imperial Brands' current ROCE % is 12.53%. The Tobacco Products industry median ROCE % is 17.46. Imperial Brands' value of 12.53% is 28.2% below this industry median. Overall, Imperial Brands has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Imperial Brands' ROCE % compare to PM and MO?
Imperial Brands' ROCE % of 12.53% can be compared against companies in the Tobacco Products industry. The industry median ROCE % is 17.46. Imperial Brands' value of 12.53% is 28.2% below 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 Tobacco Products company?
The median ROCE % among Tobacco Products companies is 17.46, based on 46 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. Imperial Brands's current ROCE % of 12.53% is 28.2% below 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 Tobacco Products industry, the median ROCE % is 17.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Imperial Brands's current ROCE % is 12.53%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Imperial Brands stock overvalued right now?
Imperial Brands (STU:ITBA) has a current ROCE % of 12.53%. The stock's GF Value™ is €20.71, compared to a current price of €32.20 — trading 55.5% above its estimated fair value. The current ROCE % is 12.53% and 28.2% below the Tobacco Products industry median of 17.46. Imperial Brands' 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 Imperial Brands (STU:ITBA), the current ROCE % is 12.53% 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 Imperial Brands (STU:ITBA) Overvalued in 2026?

Based on GuruFocus' analysis, Imperial Brands stock appears to be overvalued. The current stock price of €32.20 is trading 55.5% above its estimated GF Value™ of €20.71.

Key valuation signals for STU:ITBA:

  • ROCE %: 12.53%
  • GF Value™: €20.71 vs. price of €32.20 (55.5% above fair value)
  • GF Score™: 72/100 with 3 warning signs
  • Industry Position: 28.2% below the Tobacco Products median

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

Imperial Brands Business Description

Address 121 Winterstoke Road, Bristol, GBR, BS3 2LL
Imperial Brands is the world's fourth-largest international tobacco company (excluding China National Tobacco), with total fiscal 2025 volume of 187 billion cigarettes sold in more than 120 countries. Its largest and most important markets are the US (where it sits as the third-largest manufacturer, following its acquisition of the Winston and Blu brands), Germany, the UK, Spain, and Australia. The firm also holds a leading global position in the fine-cut tobacco and hand-rolling paper categories. It has a logistics platform in Western Europe, Altadis.
72GF Score

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

€32.20
Price
€20.71
GF Value