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.
Excel Industries ROE % Related Terms
Excel Industries ROE % Historical Data
* Premium members only.
The historical data trend for Excel 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 Specialty Chemicals subindustry, Excel 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.
Excel Industries ROE % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Excel Industries's ROE % distribution charts can be found below:
* The bar in red indicates where Excel 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.
Excel Industries (NSE:EXCELINDUS) has a ROE % of 2.88% 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 Excel Industries and its competitors. This is 64% below median its historical median of 7.93. Over the past decade, Excel Industries' ROE % has ranged from 1.27 to 24.91. According to the industry distribution chart, Excel Industries ranks #870 out of 1585 companies in the Chemicals industry, placing it in the top 54.9%.
Is Excel Industries' ROE % too high?
Excel Industries' current ROE % of 2.88% is 64% below median its 10-year median of 7.93. Over the past 10 years, this metric has ranged from a low of 1.27 to a high of 24.91. The Chemicals industry median ROE % is 5.20. Excel Industries' value of 2.88% is 44.6% below this industry median. Based on the distribution chart, Excel Industries ranks #870 out of 1585 companies in the Chemicals industry, which is below the industry midpoint. Overall, Excel Industries has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Excel Industries' ROE % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Excel Industries ranks #870 out of 1585 companies for ROE %. This places Excel Industries in the lower half of its industry. The industry median ROE % is 5.20. Excel Industries' value of 2.88% is 44.6% below this benchmark. Historically, Excel Industries' own ROE % has ranged from 1.27 to 24.91 over the past decade. While the company's 10-year median is 7.93 vs. the industry median of 5.20, Excel Industries has consistently been below 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 a Chemicals company?
The median ROE % among Chemicals companies is 5.20, based on 1,585 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. Excel Industries's current ROE % of 2.88% is 44.6% 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 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 Excel Industries and its competitors. For the Chemicals industry, the median ROE % is 5.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Excel Industries's current ROE % is 2.88%, which is 64% below median its own 10-year median of 7.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Excel Industries stock overvalued right now?
Based on GuruFocus' analysis, Excel Industries (NSE:EXCELINDUS) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,167.36, compared to a current price of ₹903.30 — trading 22.6% below its estimated fair value. The current ROE % is 2.88%, which is 64% below median its 10-year median of 7.93 and 44.6% below the Chemicals industry median of 5.20. Excel Industries' overall GF Score™ is 73/100 with 5 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 Excel Industries (NSE:EXCELINDUS), the current ROE % is 2.88% 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 Excel Industries (NSE:EXCELINDUS) Overvalued in 2026?
Based on GuruFocus' analysis, Excel Industries stock appears to be undervalued.
The current stock price of ₹903.30 is trading 22.6% below its estimated GF Value™ of ₹1,167.36.
GuruFocus considers Excel Industries to be Modestly Undervalued.
Key valuation signals for NSE:EXCELINDUS:
ROE %: 2.88% (64% below median its 10-year median of 7.93)
GF Value™: ₹1,167.36 vs. price of ₹903.30 (22.6% below fair value)
Industry Position: 44.6% below the Chemicals median (#870 of 1585)
No single metric tells the full story. See the NSE:EXCELINDUS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Excel Industries Ltd is a chemical manufacturer based in India. The company is organized into two business segments namely; Chemicals segment which comprises of manufacture of speciality chemicals, intermediates and actives catering to various end user segments like Agrochemicals, Water Treatment, Soaps & Detergents, Lube Oil Additives, Mining Chemicals, Polymer Additives and Pharmaceuticals; and Environment and Biotech segment which comprises of Organic waste management composting, Municipal solid waste management, Plastic waste management and Construction and demolition waste management. The majority of its revenues come from Chemicals segment. It generates maximum revenue from within India.
73GF Score
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