Reliance IndustriesLUX:RELIN 91 ROE % is 7.51% as of Mar. 2026, which is 19% below its 10-year median of 9.24. GuruFocus rates LUX:RELIN with a GF Score™ of 91/100 and a GF Value™ of $91.67. The stock has 2 warning signs investors should review. Among 957 Oil & Gas companies, Reliance Industries ranks better than 61.13% on this metric.
The historical rank and industry rank for Reliance Industries's ROE % or its related term are showing as below:
LUX:RELIN'
s ROE % Range Over the Past 10 Years
Min: 8.21 Med: 9.24 Max: 12.95
Current: 9.23
During the past 13 years, Reliance Industries's highest ROE % was 12.95%. The lowest was 8.21%. And the median was 9.24%.
LUX:RELIN's ROE % is ranked better than 61.13% of 957
companies
in the Oil & Gas industry
Industry Median: 5.71
vs LUX:RELIN: 9.23
Reliance Industries (LUX:RELIN) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Reliance Industries ROE % Related Terms
Reliance Industries ROE % Historical Data
* Premium members only.
The historical data trend for Reliance Industries's ROE % 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.
For the Oil & Gas Refining & Marketing subindustry, Reliance Industries's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Reliance Industries ROE % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Reliance Industries's ROE % distribution charts can be found below:
* The bar in red indicates where Reliance Industries's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Reliance Industries (LUX:RELIN) has a ROE % of 7.51% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Reliance Industries and its competitors. This is 19% below median its historical median of 9.24. Over the past decade, Reliance Industries' ROE % has ranged from 8.21 to 12.95. According to the industry distribution chart, Reliance Industries ranks #372 out of 957 companies in the Oil & Gas industry, placing it in the top 38.9%.
Is Reliance Industries' ROE % too high?
Reliance Industries' current ROE % of 7.51% is 19% below median its 10-year median of 9.24. Over the past 10 years, this metric has ranged from a low of 8.21 to a high of 12.95. The Oil & Gas industry median ROE % is 5.71. Reliance Industries' value of 7.51% is 31.5% above this industry median. Based on the distribution chart, Reliance Industries ranks #372 out of 957 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Reliance Industries has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Reliance Industries' ROE % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Reliance Industries ranks #372 out of 957 companies for ROE %. This puts Reliance Industries in the upper half of its industry. The industry median ROE % is 5.71. Reliance Industries' value of 7.51% is 31.5% above this benchmark. Historically, Reliance Industries' own ROE % has ranged from 8.21 to 12.95 over the past decade. While the company's 10-year median is 9.24 vs. the industry median of 5.71, Reliance Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Oil & Gas company?
The median ROE % among Oil & Gas companies is 5.71, based on 957 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Reliance Industries's current ROE % of 7.51% is 31.5% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Reliance Industries and its competitors. For the Oil & Gas industry, the median ROE % is 5.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Reliance Industries's current ROE % is 7.51%, which is 19% below median its own 10-year median of 9.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reliance Industries stock overvalued right now?
Reliance Industries (LUX:RELIN) has a current ROE % of 7.51%. The stock's GF Value™ is $91.67, compared to a current price of $76.40 — trading 16.7% below its estimated fair value. The current ROE % is 7.51%, which is 19% below median its 10-year median of 9.24 and 31.5% above the Oil & Gas industry median of 5.71. Reliance Industries' overall GF Score™ is 91/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Reliance Industries (LUX:RELIN), the current ROE % is 7.51% 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 Reliance Industries (LUX:RELIN) Overvalued in 2026?
Based on GuruFocus' analysis, Reliance Industries stock appears to be undervalued.
The current stock price of $76.40 is trading 16.7% below its estimated GF Value™ of $91.67.
Key valuation signals for LUX:RELIN:
ROE %: 7.51% (19% below median its 10-year median of 9.24)
GF Value™: $91.67 vs. price of $76.40 (16.7% below fair value)
Industry Position: 31.5% above the Oil & Gas median (#372 of 957)
No single metric tells the full story. See the LUX:RELIN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The company has five principal operating and reporting segments: Oil to Chemicals (O2C), Oil and Gas, Retail, Digital Services, and other services. Reliance's refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment, which derives the majority of revenue, includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.
91GF Score
Get the complete analysis for LUX:RELIN
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LUX:RELIN has been successfully added to your 
