Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. NIS AD's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 2.73%.
As of today (2026-07-16), NIS AD's WACC % is 7.94%. NIS AD's ROIC % is -0.32% (calculated using TTM income statement data).
NIS AD earns returns that do not match up to its cost of capital. It will destroy value as it grows.
NIS AD (XBEL:NIIS) 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, NIS AD's WACC % is 7.94%. NIS AD's ROIC % is -0.32% (calculated using TTM income statement data).
NIS AD 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.
NIS AD ROIC % Related Terms
NIS AD ROIC % Historical Data
* Premium members only.
The historical data trend for NIS AD'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 Oil & Gas Refining & Marketing subindustry, NIS AD'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.
NIS AD ROIC % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NIS AD's ROIC % distribution charts can be found below:
* The bar in red indicates where NIS AD'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.
NIS AD (XBEL:NIIS) has a ROIC % of 2.73% 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 NIS AD and its competitors.
Is NIS AD's ROIC % too high?
NIS AD's current ROIC % is 2.73%. The Oil & Gas industry median ROIC % is 3.71. NIS AD's value of 2.73% is 26.3% below this industry median. Overall, NIS AD has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does NIS AD's ROIC % compare to PSX and MPC?
NIS AD's ROIC % of 2.73% can be compared against companies in the Oil & Gas industry. The industry median ROIC % is 3.71. NIS AD's value of 2.73% is 26.3% 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 an Oil & Gas company?
The median ROIC % among Oil & Gas companies is 3.71, based on 996 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. NIS AD's current ROIC % of 2.73% is 26.3% 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 NIS AD and its competitors. For the Oil & Gas industry, the median ROIC % is 3.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NIS AD's current ROIC % is 2.73%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NIS AD stock overvalued right now?
NIS AD (XBEL:NIIS) has a current ROIC % of 2.73%. The stock's GF Value™ is RSD705.03, compared to a current price of RSD705.00 — trading 0% below its estimated fair value. The current ROIC % is 2.73% and 26.3% below the Oil & Gas industry median of 3.71. NIS AD's overall GF Score™ is 18/100 with 3 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 NIS AD (XBEL:NIIS), the current ROIC % is 2.73% 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 NIS AD (XBEL:NIIS) Overvalued in 2026?
Based on GuruFocus' analysis, NIS AD stock appears to be undervalued.
The current stock price of RSD705.00 is trading 0% below its estimated GF Value™ of RSD705.03.
Key valuation signals for XBEL:NIIS:
ROIC %: 2.73%
GF Value™: RSD705.03 vs. price of RSD705.00 (0% below fair value)
Industry Position: 26.3% below the Oil & Gas median
No single metric tells the full story. See the XBEL:NIIS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NIS AD is vertically-integrated energy company operating in Serbia. It engages in the exploration, production, and development of crude oil and gas as well as the production of refined petroleum products, petroleum products and gas trading and electric generation and trading. NIS operates through two segments namely Upstream and Downstream. The Upstream segment includes exploration, development, and production of crude oil and natural gas and oil field services whereas the Downstream segment includes refining and marketing, processing of crude oil into refined products and purchases, sale and transport of crude and refined petroleum products. The company's products are compressed natural gas, motor fuels, energy fuels, oils and lubricants, petrochemical products, and other products.
18GF Score
Get the complete analysis for XBEL:NIIS
ROIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XBEL:NIIS has been successfully added to your 
