Thor Explorations (TSXV:THX) ROCE %: 46.41% (As of Mar. 2026)

What is Thor Explorations ROCE %?

Thor Explorations TSXV:THX -1.87% 43 ROCE % is 46.41% as of Mar. 2026. GuruFocus rates TSXV:THX with a GF Score™ of 43/100 and a GF Value™ of C$0.71 (Significantly Overvalued). The stock has 1 warning sign 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. Thor Explorations's annualized ROCE % for the quarter that ended in Mar. 2026 was 46.41%.

Thor Explorations (TSXV:THX) 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.

Thor Explorations ROCE % Related Terms

Thor Explorations ROCE % Historical Data

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The historical data trend for Thor Explorations'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.

Thor Explorations ROCE % Chart

Thor Explorations Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

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-1.87

39.09

12.85

58.04

65.48

Thor Explorations 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															62.27	76.55	57.20	75.15	46.41

43GF Score

Thor Explorations Ltd TSXV:THX

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Thor Explorations ROCE % Calculation

Thor Explorations'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 )
	=	271.301	/	( ( (397.594 - 100.25)	+	(561.57 - 30.229) )	/ 2 )
	=	271.301	/	( (297.344	+	531.341)	/ 2 )
	=	271.301	/	414.3425
	=	65.48 %

Thor Explorations'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 )
	=	257.084	/	( ( (561.57 - 30.229)	+	(609.58 - 33.05) )	/ 2 )
	=	257.084	/	( ( 531.341	+	576.53 )	/ 2 )
	=	257.084	/	553.9355
	=	46.41 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 46.41% mean?

Thor Explorations (TSXV:THX) has a ROCE % of 46.41% as of Mar. 2026.

Is Thor Explorations' ROCE % too high?

Thor Explorations' current ROCE % is 46.41%. Overall, Thor Explorations has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Thor Explorations' ROCE % compare to NEM and AU?

Thor Explorations' ROCE % of 46.41% can be compared against companies in the Metals & Mining industry. 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 Metals & Mining company?

A good ROCE % depends on the Metals & Mining industry context. 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. Thor Explorations's current ROCE % is 46.41%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Thor Explorations stock overvalued right now?

Based on GuruFocus' analysis, Thor Explorations (TSXV:THX) is currently considered Significantly Overvalued. The stock's GF Value™ is C$0.71, compared to a current price of C$1.05 — trading 47.9% above its estimated fair value. The current ROCE % is 46.41%. Thor Explorations' overall GF Score™ is 43/100 with 1 warning sign 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 Thor Explorations (TSXV:THX), the current ROCE % is 46.41% 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 Thor Explorations (TSXV:THX) Overvalued in 2026?

Based on GuruFocus' analysis, Thor Explorations stock appears to be overvalued. The current stock price of C$1.05 is trading 47.9% above its estimated GF Value™ of C$0.71. GuruFocus considers Thor Explorations to be Significantly Overvalued.

Key valuation signals for TSXV:THX:

ROCE %: 46.41%
GF Value™: C$0.71 vs. price of C$1.05 (47.9% above fair value)
GF Score™: 43/100 with 1 warning sign

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

Thor Explorations Business Description

Industry Basic Materials Metals & Mining

Comparable Companies TSX:GAU TSXV:AUXX TSXV:RML TSX:ITH TSXV:BYN TSX:LGD TSXV:AMX TSXV:ASE TSXV:NFG TSX:BSX NEM SHSE:601899 TSX:AEM TSX:ABX TSX:WPM TSX:FNV AU HKSE:02259 JSE:GFI TSX:K

Other Exchanges THXPF:USA THX:UK T2X:Germany

Address 119 West Pender Street, No. 404, Vancouver, BC, CAN, V6B 1S5

Website https://www.thorexpl.com

Thor Explorations Ltd is a Canadian mineral exploration company engaged in the acquisition, exploration, development, and production of mineral properties located in Nigeria, Senegal, and Cote d'Ivoire. Its project portfolio includes the Segilola Gold Project located in Osun State, Nigeria; the Douta Gold Project located in south-eastern Senegal; and the Guitry Gold Project Cote d'Ivoire. Additionally, the company has entered into two further option agreements to earn the majority interest in the Marahui and Boundiali Exploration licences. Thor Explorations derives revenue mainly from the sale of gold and silver, of which substantial revenue is generated from gold. The company's operations comprise three reportable segments: the Segilola Mine Project, Exploration Projects, and Corporate.

43GF Score

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C$1.05

Price

C$0.71

GF Value

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