Saipem SpA (WBO:SPM3) ROCE %: 11.75% (As of Mar. 2026)

What is Saipem SpA ROCE %?

Saipem SpA WBO:SPM3 +1.90% 44 ROCE % is 11.75% as of Mar. 2026. GuruFocus rates WBO:SPM3 with a GF Score™ of 44/100 and a GF Value™ of €2.49 (Significantly Overvalued). The stock has 8 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. Saipem SpA's annualized ROCE % for the quarter that ended in Mar. 2026 was 11.75%.

Saipem SpA (WBO:SPM3) 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.

Saipem SpA ROCE % Related Terms

Saipem SpA ROCE % Historical Data

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The historical data trend for Saipem SpA'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.

Saipem SpA ROCE % Chart

Saipem SpA Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

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-40.32

-0.39

8.60

11.34

11.33

Saipem SpA Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Dec22	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															10.55	8.80	9.79	15.87	11.75

44GF Score

Saipem SpA WBO:SPM3

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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Saipem SpA ROCE % Calculation

Saipem SpA'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 )
	=	680	/	( ( (14519 - 8564)	+	(14441 - 8393) )	/ 2 )
	=	680	/	( (5955	+	6048)	/ 2 )
	=	680	/	6001.5
	=	11.33 %

Saipem SpA'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 )
	=	620	/	( ( (14441 - 8393)	+	(4501 - 0) )	/ 2 )
	=	620	/	( ( 6048	+	4501 )	/ 2 )
	=	620	/	5274.5
	=	11.75 %

(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 11.75% mean?

Saipem SpA (WBO:SPM3) has a ROCE % of 11.75% as of Mar. 2026.

Is Saipem SpA's ROCE % too high?

Saipem SpA's current ROCE % is 11.75%. The Oil & Gas industry median ROCE % is 6.79. Saipem SpA's value of 11.75% is 73% above this industry median. Overall, Saipem SpA has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Saipem SpA's ROCE % compare to SLB and BKR?

Saipem SpA's ROCE % of 11.75% can be compared against companies in the Oil & Gas industry. The industry median ROCE % is 6.79. Saipem SpA's value of 11.75% is 73% 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 an Oil & Gas company?

The median ROCE % among Oil & Gas companies is 6.79, based on 977 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. Saipem SpA's current ROCE % of 11.75% is 73% 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 Oil & Gas industry, the median ROCE % is 6.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Saipem SpA's current ROCE % is 11.75%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Saipem SpA stock overvalued right now?

Based on GuruFocus' analysis, Saipem SpA (WBO:SPM3) is currently considered Significantly Overvalued. The stock's GF Value™ is €2.49, compared to a current price of €4.55 — trading 82.8% above its estimated fair value. The current ROCE % is 11.75% and 73% above the Oil & Gas industry median of 6.79. Saipem SpA's overall GF Score™ is 44/100 with 8 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 Saipem SpA (WBO:SPM3), the current ROCE % is 11.75% 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 Saipem SpA (WBO:SPM3) Overvalued in 2026?

Based on GuruFocus' analysis, Saipem SpA stock appears to be overvalued. The current stock price of €4.55 is trading 82.8% above its estimated GF Value™ of €2.49. GuruFocus considers Saipem SpA to be Significantly Overvalued.

Key valuation signals for WBO:SPM3:

ROCE %: 11.75%
GF Value™: €2.49 vs. price of €4.55 (82.8% above fair value)
GF Score™: 44/100 with 8 warning signs
Industry Position: 73% above the Oil & Gas median

No single metric tells the full story. See the WBO:SPM3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Saipem SpA Business Description

Industry Energy Oil & Gas

Comparable Companies MIL:NXT MIL:TEN SLB BKR HAL FTI SZSE:002353 OSL:SUBC XPAR:GTT SHSE:601808 WFRD XPAR:TE NOV KGS XAMS:SBMO SHSE:600968 AROC SGX:5E2 LBRT ASX:WOR

Other Exchanges SAPMY:USA SAPMF:USA SPM:Italy SPMm:UK 0RPI:UK SPE:Germany

Address Via Luigi Russolo, 5, Milano, ITA, 20138

Website https://www.saipem.com

Saipem SpA specializes in engineering and construction of projects for the energy and infrastructure sectors, offshore and onshore. The company operates through Asset-Based Services, Offshore Drilling, and Energy Carriers segments. Key revenue is generated from Asset-Based Services, which includes the Offshore Engineering & Construction and Offshore Wind activities. The Energy Carriers segment includes the Onshore Engineering & Construction, Sustainable Infrastructures, and Robotics & Industrialized Solutions activities. Its revenue by geographical segment includes Italy, Rest of Europe, CSI, Rest of Asia, etc.

44GF Score

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

€4.55

Price

€2.49

GF Value

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