ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. HAV Group ASA's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 4.23%.
As of today (2026-07-04), HAV Group ASA's WACC % is 11.93%. HAV Group ASA's ROIC % is 2.18% (calculated using TTM income statement data).
HAV Group ASA earns returns that do not match up to its cost of capital. It will destroy value as it grows.
HAV Group ASA (OSL:HAV) 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, HAV Group ASA's WACC % is 11.93%. HAV Group ASA's ROIC % is 2.18% (calculated using TTM income statement data).
HAV Group ASA 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.
HAV Group ASA ROIC % Related Terms
HAV Group ASA ROIC % Historical Data
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The historical data trend for HAV Group ASA's ROIC % 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 Marine Shipping subindustry, HAV Group ASA'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.
HAV Group ASA ROIC % vs Transportation Industry
For the Transportation industry and Industrials sector, HAV Group ASA's ROIC % distribution charts can be found below:
* The bar in red indicates where HAV Group ASA'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.
HAV Group ASA (OSL:HAV) has a ROIC % of 4.23% 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 HAV Group ASA and its competitors.
Is HAV Group ASA's ROIC % too high?
HAV Group ASA's current ROIC % is 4.23%. The Transportation industry median ROIC % is 4.69. HAV Group ASA's value of 4.23% is 9.8% below this industry median. Overall, HAV Group ASA has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does HAV Group ASA's ROIC % compare to competitors?
HAV Group ASA's ROIC % of 4.23% can be compared against companies in the Transportation industry. The industry median ROIC % is 4.69. HAV Group ASA's value of 4.23% is 9.8% below 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 Transportation company?
The median ROIC % among Transportation companies is 4.69, based on 985 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. HAV Group ASA's current ROIC % of 4.23% is 9.8% 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 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 HAV Group ASA and its competitors. For the Transportation industry, the median ROIC % is 4.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HAV Group ASA's current ROIC % is 4.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HAV Group ASA stock overvalued right now?
Based on GuruFocus' analysis, HAV Group ASA (OSL:HAV) is currently considered Fairly Valued. The stock's GF Value™ is kr12.47, compared to a current price of kr13.50 — trading 8.3% above its estimated fair value. The current ROIC % is 4.23% and 9.8% below the Transportation industry median of 4.69. HAV Group ASA's overall GF Score™ is 63/100 with 4 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 HAV Group ASA (OSL:HAV), the current ROIC % is 4.23% 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 HAV Group ASA (OSL:HAV) Overvalued in 2026?
Based on GuruFocus' analysis, HAV Group ASA stock appears to be overvalued.
The current stock price of kr13.50 is trading 8.3% above its estimated GF Value™ of kr12.47.
GuruFocus considers HAV Group ASA to be Fairly Valued.
Key valuation signals for OSL:HAV:
ROIC %: 4.23%
GF Value™: kr12.47 vs. price of kr13.50 (8.3% above fair value)
Industry Position: 9.8% below the Transportation median
No single metric tells the full story. See the OSL:HAV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HAV Group ASA is a provider of solutions and technology to the marine and maritime industries. The group's vision is to contribute to the green shift through solutions and high-end products for the ocean industries. The Group's main activities are: HAV Design, i.e., providing ship design and system packages for offshore, transport, and fishing vessels; Norwegian Electric Systems, i.e., specializing in design, engineering, and installation of electric systems and delivery of control and automation systems for ships; Norwegian Greentech, i.e., specializing in the delivery of ballast water treatment systems. HAV Hydrogen, i.e., delivers complete and scalable hydrogen systems that are designed for operation in heavy seas. Other/Elimination includes intercompany and the mother company.
63GF Score
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