ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. Airport Facilities Co's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 4.59%.
As of today (2026-07-03), Airport Facilities Co's WACC % is 2.29%. Airport Facilities Co's ROIC % is 4.64% (calculated using TTM income statement data).
Airport Facilities 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.
Airport Facilities Co (TSE:8864) 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, Airport Facilities Co's WACC % is 2.29%. Airport Facilities Co's ROIC % is 4.64% (calculated using TTM income statement data).
Airport Facilities 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.
* 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 Real Estate Services subindustry, Airport Facilities 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.
Airport Facilities Co ROIC % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Airport Facilities Co's ROIC % distribution charts can be found below:
* The bar in red indicates where Airport Facilities Co's ROIC % falls into.
Note:
The Operating Income data used here is two times the semi-annual (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.
Airport Facilities Co (TSE:8864) has a ROIC % of 4.59% 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 Airport Facilities Co and its competitors.
Is Airport Facilities Co's ROIC % too high?
Airport Facilities Co's current ROIC % is 4.59%. The Real Estate industry median ROIC % is 2.19. Airport Facilities Co's value of 4.59% is 109.6% above this industry median. Overall, Airport Facilities Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Airport Facilities Co's ROIC % compare to CBRE and BEKE?
Airport Facilities Co's ROIC % of 4.59% can be compared against companies in the Real Estate industry. The industry median ROIC % is 2.19. Airport Facilities Co's value of 4.59% is 109.6% 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 Real Estate company?
The median ROIC % among Real Estate companies is 2.19, based on 1,755 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. Airport Facilities Co's current ROIC % of 4.59% is 109.6% 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 Airport Facilities Co and its competitors. For the Real Estate industry, the median ROIC % is 2.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Airport Facilities Co's current ROIC % is 4.59%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Airport Facilities Co stock overvalued right now?
Based on GuruFocus' analysis, Airport Facilities Co (TSE:8864) is currently considered Fairly Valued. The stock's GF Value™ is 円871.18, compared to a current price of 円938.00 — trading 7.7% above its estimated fair value. The current ROIC % is 4.59% and 109.6% above the Real Estate industry median of 2.19. Airport Facilities Co's overall GF Score™ is 77/100 with 2 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 Airport Facilities Co (TSE:8864), the current ROIC % is 4.59% 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 Airport Facilities Co (TSE:8864) Overvalued in 2026?
Based on GuruFocus' analysis, Airport Facilities Co stock appears to be overvalued.
The current stock price of 円938.00 is trading 7.7% above its estimated GF Value™ of 円871.18.
GuruFocus considers Airport Facilities Co to be Fairly Valued.
Key valuation signals for TSE:8864:
ROIC %: 4.59%
GF Value™: 円871.18 vs. price of 円938.00 (7.7% above fair value)
Industry Position: 109.6% above the Real Estate median
No single metric tells the full story. See the TSE:8864 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Airport Facilities Co Ltd is engaged in real estate leasing, heat supply business, and water supply and drainage management businesses. The company generates the majority of its revenue from the Real Estate business.
77GF Score
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