Naturgy Energy Group (XMAD:NTGY) ROCE %: 12.68% (As of Dec. 2025)


XMAD:NTGY Naturgy Energy Group SA XMAD:NTGY
65 GF Score
Price €27.80
GF Value €22.64
Valuation Modestly Overvalued
! 7 Warning Signs
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What is Naturgy Energy Group ROCE %?

Naturgy Energy Group XMAD:NTGY +0.94% 65 ROCE % is 12.68% as of Dec. 2025. GuruFocus rates XMAD:NTGY with a GF Score™ of 65/100 and a GF Value™ of €22.64 (Modestly Overvalued). The stock has 7 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. Naturgy Energy Group's annualized ROCE % for the quarter that ended in Dec. 2025 was 12.68%.

Naturgy Energy Group  (XMAD:NTGY) 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.

Naturgy Energy Group ROCE % Related Terms

Naturgy Energy Group ROCE % Historical Data

* Premium members only.

The historical data trend for Naturgy Energy Group'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.

Naturgy Energy Group ROCE % Chart

Naturgy Energy Group 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 7.81 10.50 12.17 12.39 12.38

Naturgy Energy Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 12.50 12.60 12.43 13.41 12.68
XMAD:NTGY
65GF Score
Naturgy Energy Group SA XMAD:NTGY
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Naturgy Energy Group ROCE % Calculation

Naturgy Energy Group'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 )
=3942/( ( (40836 - 8229) + (39101 - 8018) )/ 2 )
=3942/( (32607+31083)/ 2 )
=3942/31845
=12.38 %

Naturgy Energy Group's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=3782/( ( (36507 - 7938) + (39101 - 8018) )/ 2 )
=3782/( ( 28569 + 31083 )/ 2 )
=3782/29826
=12.68 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) 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 12.68% mean?
Naturgy Energy Group (XMAD:NTGY) has a ROCE % of 12.68% as of Dec. 2025.
Is Naturgy Energy Group's ROCE % too high?
Naturgy Energy Group's current ROCE % is 12.68%. The Utilities - Regulated industry median ROCE % is 6.91. Naturgy Energy Group's value of 12.68% is 83.5% above this industry median. Overall, Naturgy Energy Group has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Naturgy Energy Group's ROCE % compare to ATO and NI?
Naturgy Energy Group's ROCE % of 12.68% can be compared against companies in the Utilities - Regulated industry. The industry median ROCE % is 6.91. Naturgy Energy Group's value of 12.68% is 83.5% 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 Utilities - Regulated company?
The median ROCE % among Utilities - Regulated companies is 6.91, based on 504 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. Naturgy Energy Group's current ROCE % of 12.68% is 83.5% 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 Utilities - Regulated industry, the median ROCE % is 6.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Naturgy Energy Group's current ROCE % is 12.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naturgy Energy Group stock overvalued right now?
Based on GuruFocus' analysis, Naturgy Energy Group (XMAD:NTGY) is currently considered Modestly Overvalued. The stock's GF Value™ is €22.64, compared to a current price of €27.80 — trading 22.8% above its estimated fair value. The current ROCE % is 12.68% and 83.5% above the Utilities - Regulated industry median of 6.91. Naturgy Energy Group's overall GF Score™ is 65/100 with 7 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 Naturgy Energy Group (XMAD:NTGY), the current ROCE % is 12.68% as of Dec. 2025. 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 Naturgy Energy Group (XMAD:NTGY) Overvalued in 2026?

Based on GuruFocus' analysis, Naturgy Energy Group stock appears to be overvalued. The current stock price of €27.80 is trading 22.8% above its estimated GF Value™ of €22.64. GuruFocus considers Naturgy Energy Group to be Modestly Overvalued.

Key valuation signals for XMAD:NTGY:

  • ROCE %: 12.68%
  • GF Value™: €22.64 vs. price of €27.80 (22.8% above fair value)
  • GF Score™: 65/100 with 7 warning signs
  • Industry Position: 83.5% above the Utilities - Regulated median

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

Naturgy Energy Group Business Description

Address Avenida de America 38, Madrid, ESP
Naturgy stems from the 2008 acquisition of Union Fenosa. The company operates across the gas value chain, from procurement to distribution and marketing. It owns and operates the largest gas distribution network in Spain, where it is also the leading retail gas supplier. The company additionally operates gas and electricity distribution networks across several Latin American countries. It owns 17.9 GW of generation capacity, including 7.3 GW of wind and solar.
65GF Score

Get the complete analysis for XMAD:NTGY

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

€27.80
Price
€22.64
GF Value