ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Novolipetsk Steel PJSC's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2021 was 52.39%.
As of today (2026-07-03), Novolipetsk Steel PJSC's WACC % is 0.00%. Novolipetsk Steel PJSC's ROIC % is 0.00% (calculated using TTM income statement data).
Novolipetsk Steel PJSC 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, Novolipetsk Steel PJSC's WACC % is 0.00%. Novolipetsk Steel PJSC's ROIC % is 0.00% (calculated using TTM income statement data).
Novolipetsk Steel PJSC 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.
* 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 Steel subindustry, Novolipetsk Steel PJSC'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.
Novolipetsk Steel PJSC ROIC % vs Steel Industry
For the Steel industry and Basic Materials sector, Novolipetsk Steel PJSC's ROIC % distribution charts can be found below:
* The bar in red indicates where Novolipetsk Steel PJSC's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (Dec. 2021) 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.
Novolipetsk Steel PJSC (MIC:NLMK) has a ROIC % of 52.39% as of Dec. 2021. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on Novolipetsk Steel PJSC and its competitors.
Is Novolipetsk Steel PJSC's ROIC % too high?
Novolipetsk Steel PJSC's current ROIC % is 52.39%. The Steel industry median ROIC % is 2.52. Novolipetsk Steel PJSC's value of 52.39% is 1979% above this industry median. Overall, Novolipetsk Steel PJSC has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Novolipetsk Steel PJSC's ROIC % compare to NUE and STLD?
Novolipetsk Steel PJSC's ROIC % of 52.39% can be compared against companies in the Steel industry. The industry median ROIC % is 2.52. Novolipetsk Steel PJSC's value of 52.39% is 1979% 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 Steel company?
The median ROIC % among Steel companies is 2.52, based on 621 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. Novolipetsk Steel PJSC's current ROIC % of 52.39% is 1979% 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 Novolipetsk Steel PJSC and its competitors. For the Steel industry, the median ROIC % is 2.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novolipetsk Steel PJSC's current ROIC % is 52.39%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novolipetsk Steel PJSC stock overvalued right now?
Novolipetsk Steel PJSC (MIC:NLMK) has a current ROIC % of 52.39%. The current ROIC % is 52.39% and 1979% above the Steel industry median of 2.52. Novolipetsk Steel PJSC's overall GF Score™ is 17/100. 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 Novolipetsk Steel PJSC (MIC:NLMK), the current ROIC % is 52.39% as of Dec. 2021. 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.
Novolipetsk Steel PJSC is a Russia-based steelmaker with production assets located in Russia, Europe, and the United States. The company's metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and off shore wind turbines. The company operates through six segments, namely Mining, Russian flat products, Russian long products, NLMK USA, NLMK DanSteel and Plates Distribution Network, and Investments in NBH. Russian flat products for over half of the company's revenue. Russia, Europe, North America, and the Middle East are the four largest markets for the company.
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