3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Aspen Aerogels's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -36.05%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Aspen Aerogels's 3-Year ROIIC % or its related term are showing as below:
ASPN's 3-Year ROIIC % is ranked worse than 86.79% of 1680
companies
in the Construction industry
Industry Median: 4.64
vs ASPN: -36.05
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Aspen Aerogels 3-Year ROIIC % Related Terms
Aspen Aerogels 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Aspen Aerogels's 3-Year ROIIC % 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.
ASPN vs AIRJ, JLHL, PPIH: 3-Year ROIIC % Comparison
For the Building Products & Equipment subindustry, Aspen Aerogels's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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.
Aspen Aerogels 3-Year ROIIC % vs Construction Industry
For the Construction industry and Industrials sector, Aspen Aerogels's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Aspen Aerogels's 3-Year ROIIC % falls into.
Aspen Aerogels's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -51.392 (Dec. 2025) - -79.245 (Dec. 2022) )
/
( 226.556 (Dec. 2025) - 303.817 (Dec. 2022) )
=
27.853
/
-77.261
=
-36.05%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Aspen Aerogels (ASPN) has a 3-Year ROIIC % of -36.05 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Aspen Aerogels and its competitors. According to the industry distribution chart, Aspen Aerogels ranks #1458 out of 1680 companies in the Construction industry, placing it in the top 86.8%.
Is Aspen Aerogels' 3-Year ROIIC % too high?
Aspen Aerogels' current 3-Year ROIIC % is -36.05. Based on the distribution chart, Aspen Aerogels ranks #1458 out of 1680 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Aspen Aerogels has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aspen Aerogels' 3-Year ROIIC % compare to AIRJ and JLHL?
According to the Construction industry distribution chart, Aspen Aerogels ranks #1458 out of 1680 companies for 3-Year ROIIC %. This places Aspen Aerogels in the lower half of its industry. The industry median 3-Year ROIIC % is 4.64. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Construction company?
The median 3-Year ROIIC % among Construction companies is 4.64, based on 1,680 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Aspen Aerogels and its competitors. For the Construction industry, the median 3-Year ROIIC % is 4.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aspen Aerogels's current 3-Year ROIIC % is -36.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aspen Aerogels stock overvalued right now?
Based on GuruFocus' analysis, Aspen Aerogels (ASPN) is currently considered Fairly Valued. The stock's GF Value™ is $5.10, compared to a current price of $5.58 — trading 9.4% above its estimated fair value. The current 3-Year ROIIC % is -36.05. Aspen Aerogels' overall GF Score™ is 68/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Aspen Aerogels (ASPN), the current 3-Year ROIIC % is -36.05 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 Aspen Aerogels (ASPN) Overvalued in 2026?
Based on GuruFocus' analysis, Aspen Aerogels stock appears to be overvalued.
The current stock price of $5.58 is trading 9.4% above its estimated GF Value™ of $5.10.
GuruFocus considers Aspen Aerogels to be Fairly Valued.
Key valuation signals for ASPN:
3-Year ROIIC %: -36.05
GF Value™: $5.10 vs. price of $5.58 (9.4% above fair value)
No single metric tells the full story. See the ASPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aspen Aerogels Inc is an aerogel technology company that designs, develops, and manufactures high-performance aerogel insulation used in the energy industrial and sustainable insulation markets. The company also conducts research and development related to aerogel technology, supported by funding from several agencies of the United States of America government and other institutions in the form of research and development contracts. It is engaged in two operating segment Energy Industrial and Thermal Barrier. Geographically, it operates in the U.S. and also has a presence in other International countries. It generates the majority of its revenue from the Thermal Barrier segment and the United States market. Some of its products include Pyrogel XTE, Cryogel Z, Spaceloft Subsea, and others.
68GF Score
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