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ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Forward Fashion (International) Holdings Co's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2025 was 22.45%.
As of today (2026-08-06), Forward Fashion (International) Holdings Co's WACC % is 2.26%. Forward Fashion (International) Holdings Co's ROIC % is 13.81% (calculated using TTM income statement data).
Forward Fashion (International) Holdings Co generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
Forward Fashion (International) Holdings Co (HKSE:02528) ROIC % Explanation
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, Forward Fashion (International) Holdings Co's WACC % is 2.26%. Forward Fashion (International) Holdings Co's ROIC % is 13.81% (calculated using TTM income statement data).
Forward Fashion (International) Holdings Co generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
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.
Forward Fashion (International) Holdings Co ROIC % Related Terms
Forward Fashion (International) Holdings Co 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.
Forward Fashion (International) Holdings Co ROIC % Chart
Forward Fashion (International) Holdings Co Annual Data
* 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.
Forward Fashion (International) Holdings Co ROIC % vs Retail - Cyclical Industry
Note:
The Operating Income data used here is two times the semi-annual (Dec. 2025) 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.
Forward Fashion (International) Holdings Co (HKSE:02528) has a ROIC % of 22.45% as of Dec. 2025. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Forward Fashion (International) Holdings Co and its competitors.
Is Forward Fashion (International) Holdings Co's ROIC % too high?
Forward Fashion (International) Holdings Co's current ROIC % is 22.45%. The Retail - Cyclical industry median ROIC % is 4.39. Forward Fashion (International) Holdings Co's value of 22.45% is 411.4% above this industry median. Overall, Forward Fashion (International) Holdings Co has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forward Fashion (International) Holdings Co's ROIC % compare to TJX and ROST?
Forward Fashion (International) Holdings Co's ROIC % of 22.45% can be compared against companies in the Retail - Cyclical industry. The industry median ROIC % is 4.39. Forward Fashion (International) Holdings Co's value of 22.45% is 411.4% 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 Retail - Cyclical company?
The median ROIC % among Retail - Cyclical companies is 4.39, based on 1,121 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. Forward Fashion (International) Holdings Co's current ROIC % of 22.45% is 411.4% 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 Forward Fashion (International) Holdings Co and its competitors. For the Retail - Cyclical industry, the median ROIC % is 4.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Fashion (International) Holdings Co's current ROIC % is 22.45%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forward Fashion (International) Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Forward Fashion (International) Holdings Co (HKSE:02528) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.24, compared to a current price of HK$0.93 — trading 285.4% above its estimated fair value. The current ROIC % is 22.45% and 411.4% above the Retail - Cyclical industry median of 4.39. Forward Fashion (International) Holdings Co's overall GF Score™ is 43/100 with 6 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 Forward Fashion (International) Holdings Co (HKSE:02528), the current ROIC % is 22.45% 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 Forward Fashion (International) Holdings Co (HKSE:02528) Overvalued in 2026?
Based on GuruFocus' analysis, Forward Fashion (International) Holdings Co stock appears to be overvalued.
The current stock price of HK$0.93 is trading 285.4% above its estimated GF Value™ of HK$0.24.
GuruFocus considers Forward Fashion (International) Holdings Co to be Significantly Overvalued.
Key valuation signals for HKSE:02528:
ROIC %: 22.45%
GF Value™: HK$0.24 vs. price of HK$0.93 (285.4% above fair value)
Industry Position: 411.4% above the Retail - Cyclical median
No single metric tells the full story. See the HKSE:02528 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forward Fashion (International) Holdings Co Ltd is engaged in the retail and wholesale of fashion apparel of international brands through its multi-brand and multi-store business model in the Chinese Mainland, Macau, and Hong Kong. The group also provides store management services for fashion brands and catering services in Macau. Its portfolio includes brands such as BLACK BARRETT, Calvin Klein, EA7, Ed Hardy, Hogan, Moschino, Neil Barrett, Philipp Plein, Tommy Hilfiger, Under Armour, and others. It operates across three geographical segments: the Chinese Mainland, Macau, and Hong Kong and others, with Macau contributing the majority of the Group's revenue.
43GF Score
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