ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Maybank Securities (Thailand) PCL's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 4.79%.
As of today (2026-06-24), Maybank Securities (Thailand) PCL's WACC % is 4.66%. Maybank Securities (Thailand) PCL's ROIC % is -0.91% (calculated using TTM income statement data).
Maybank Securities (Thailand) PCL earns returns that do not match up to its cost of capital. It will destroy value as it grows.
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Maybank Securities (Thailand) PCL's WACC % is 4.66%. Maybank Securities (Thailand) PCL's ROIC % is -0.91% (calculated using TTM income statement data).
Maybank Securities (Thailand) PCL earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Maybank Securities (Thailand) PCL ROIC % Related Terms
Maybank Securities (Thailand) PCL ROIC % Historical 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.
For the Capital Markets subindustry, Maybank Securities (Thailand) PCL's ROIC %, along with its competitors' market caps and ROIC % 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.
Maybank Securities (Thailand) PCL ROIC % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Maybank Securities (Thailand) PCL's ROIC % distribution charts can be found below:
* The bar in red indicates where Maybank Securities (Thailand) PCL's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (Mar. 2026) data.
The tax rate is limited to between 0% and 100%.
* 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.
Maybank Securities (Thailand) PCL (BKK:MST-R) has a ROIC % of 4.79% as of Mar. 2026. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Maybank Securities (Thailand) PCL and its competitors.
Is Maybank Securities (Thailand) PCL's ROIC % too high?
Maybank Securities (Thailand) PCL's current ROIC % is 4.79%. The Capital Markets industry median ROIC % is 1.23. Maybank Securities (Thailand) PCL's value of 4.79% is 291% above this industry median. Overall, Maybank Securities (Thailand) PCL has a GF Score™ of 59/100, reflecting its overall financial health beyond just this single metric.
How does Maybank Securities (Thailand) PCL's ROIC % compare to MS and GS?
Maybank Securities (Thailand) PCL's ROIC % of 4.79% can be compared against companies in the Capital Markets industry. The industry median ROIC % is 1.23. Maybank Securities (Thailand) PCL's value of 4.79% is 291% 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 ROIC % for a Capital Markets company?
The median ROIC % among Capital Markets companies is 1.23, based on 694 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Maybank Securities (Thailand) PCL's current ROIC % of 4.79% is 291% 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 ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Maybank Securities (Thailand) PCL and its competitors. For the Capital Markets industry, the median ROIC % is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maybank Securities (Thailand) PCL's current ROIC % is 4.79%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maybank Securities (Thailand) PCL stock overvalued right now?
Maybank Securities (Thailand) PCL (BKK:MST-R) has a current ROIC % of 4.79%. The stock's GF Value™ is ฿6.44, compared to a current price of ฿6.85 — trading 6.4% above its estimated fair value. The current ROIC % is 4.79% and 291% above the Capital Markets industry median of 1.23. Maybank Securities (Thailand) PCL's overall GF Score™ is 59/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROIC % calculated?
ROIC % is calculated from a company's financial statements. For Maybank Securities (Thailand) PCL (BKK:MST-R), the current ROIC % is 4.79% 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 Maybank Securities (Thailand) PCL (BKK:MST-R) Overvalued in 2026?
Based on GuruFocus' analysis, Maybank Securities (Thailand) PCL stock appears to be overvalued.
The current stock price of ฿6.85 is trading 6.4% above its estimated GF Value™ of ฿6.44.
Key valuation signals for BKK:MST-R:
ROIC %: 4.79%
GF Value™: ฿6.44 vs. price of ฿6.85 (6.4% above fair value)
Industry Position: 291% above the Capital Markets median
No single metric tells the full story. See the BKK:MST-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maybank Securities (Thailand) PCL Business Description
Maybank Securities (Thailand) PCL is a public limited company incorporated and domiciled in Thailand. The company has licenses for securities business, which are securities brokerage, securities trading, underwriting, investment advisory, corporate finance advisory, securities registrar, derivatives brokerage, and securities borrowing and lending. The company is organized into business units based on its products and services and has two segments, namely the Securities Business segment, which also generates key revenue, provides services like securities brokering, derivative brokering, securities borrowing and lending, and the Investment Banking segment, which provides underwriting, investment advisory, securities borrowing and lending, and corporate finance advisory services.
59GF Score
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