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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 %. Hogy Medical Co's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2025 was 3.28%.
As of today (2026-07-17), Hogy Medical Co's WACC % is 7.94%. Hogy Medical Co's ROIC % is 0.72% (calculated using TTM income statement data).
Hogy Medical Co earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Hogy Medical Co (TSE:3593) 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, Hogy Medical Co's WACC % is 7.94%. Hogy Medical Co's ROIC % is 0.72% (calculated using TTM income statement data).
Hogy Medical Co 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.
Hogy Medical Co ROIC % Related Terms
Hogy Medical Co ROIC % Historical Data
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The historical data trend for Hogy Medical Co'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 Medical Instruments & Supplies subindustry, Hogy Medical Co'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.
Hogy Medical Co ROIC % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Hogy Medical Co's ROIC % distribution charts can be found below:
* The bar in red indicates where Hogy Medical Co's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (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.
Hogy Medical Co (TSE:3593) has a ROIC % of 3.28% 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 Hogy Medical Co and its competitors.
Is Hogy Medical Co's ROIC % too high?
Hogy Medical Co's current ROIC % is 3.28%. The Medical Devices & Instruments industry median ROIC % is 1.28. Hogy Medical Co's value of 3.28% is 157.3% above this industry median. Overall, Hogy Medical Co has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hogy Medical Co's ROIC % compare to ISRG and BDX?
Hogy Medical Co's ROIC % of 3.28% can be compared against companies in the Medical Devices & Instruments industry. The industry median ROIC % is 1.28. Hogy Medical Co's value of 3.28% is 157.3% 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 Medical Devices & Instruments company?
The median ROIC % among Medical Devices & Instruments companies is 1.28, based on 848 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. Hogy Medical Co's current ROIC % of 3.28% is 157.3% 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 Hogy Medical Co and its competitors. For the Medical Devices & Instruments industry, the median ROIC % is 1.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hogy Medical Co's current ROIC % is 3.28%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hogy Medical Co stock overvalued right now?
Based on GuruFocus' analysis, Hogy Medical Co (TSE:3593) is currently considered Significantly Overvalued. The stock's GF Value™ is 円4,422.15, compared to a current price of 円6,660.00 — trading 50.6% above its estimated fair value. The current ROIC % is 3.28% and 157.3% above the Medical Devices & Instruments industry median of 1.28. Hogy Medical Co's overall GF Score™ is 47/100 with 10 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 Hogy Medical Co (TSE:3593), the current ROIC % is 3.28% 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 Hogy Medical Co (TSE:3593) Overvalued in 2026?
Based on GuruFocus' analysis, Hogy Medical Co stock appears to be overvalued.
The current stock price of 円6,660.00 is trading 50.6% above its estimated GF Value™ of 円4,422.15.
GuruFocus considers Hogy Medical Co to be Significantly Overvalued.
Key valuation signals for TSE:3593:
ROIC %: 3.28%
GF Value™: 円4,422.15 vs. price of 円6,660.00 (50.6% above fair value)
Industry Position: 157.3% above the Medical Devices & Instruments median
No single metric tells the full story. See the TSE:3593 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hogy Medical Co Ltd develops and sells products that can be used to streamline operations and improve safety at healthcare facilities. Its products are used in hospitals' operating rooms, wards, material rooms, and administrative settings. Hogy Medical receives the majority of its revenue from sales of surgical-use products. Its key products include kit products, nonwoven products, and sterilization products. The kit products contain sterilized surgical supplies for use in a specific operation. The nonwoven products include gowns, caps, equipment covers, and other accessories. Hogy's primary sterilization product is the Mekkin bag, a sterilization pouch. The vast majority of Hogy's revenue is generated in Japan.
47GF Score
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