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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.
Air New ZealandASX:AIZ -1.43%32 3-Year ROIIC % is 63.52 as of Jun. 2025, which is 306% above its 10-year median of 15.63. GuruFocus rates ASX:AIZ with a GF Score™ of 32/100 and a GF Value™ of A$0.53 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 939 Transportation companies, Air New Zealand ranks better than 90.73% on this metric.
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.
Air New Zealand's 3-Year ROIIC % for the quarter that ended in Jun. 2025 was 63.52%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Air New Zealand's 3-Year ROIIC % or its related term are showing as below:
ASX:AIZ's 3-Year ROIIC % is ranked better than 90.73% of 939
companies
in the Transportation industry
Industry Median: 1.97
vs ASX:AIZ: 63.52
Air New Zealand (ASX:AIZ) 3-Year ROIIC % Explanation
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.
Air New Zealand 3-Year ROIIC % Related Terms
Air New Zealand 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Air New Zealand'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.
ASX:AIZ vs DAL, UAL, LUV: 3-Year ROIIC % Comparison
For the Airlines subindustry, Air New Zealand'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.
Air New Zealand 3-Year ROIIC % vs Transportation Industry
For the Transportation industry and Industrials sector, Air New Zealand's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Air New Zealand's 3-Year ROIIC % falls into.
* 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.
Air New Zealand (ASX:AIZ) has a 3-Year ROIIC % of 63.52 as of Jun. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Air New Zealand and its competitors. This is 306% above median its historical median of 15.63. According to the industry distribution chart, Air New Zealand ranks #87 out of 939 companies in the Transportation industry, placing it in the top 9.3%.
Is Air New Zealand's 3-Year ROIIC % too high?
Air New Zealand's current 3-Year ROIIC % of 63.52 is 306% above median its 10-year median of 15.63. The Transportation industry median 3-Year ROIIC % is 1.97. Air New Zealand's value of 63.52 is 3124.4% above this industry median. Based on the distribution chart, Air New Zealand ranks #87 out of 939 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Air New Zealand has a GF Score™ of 32/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Air New Zealand's 3-Year ROIIC % compare to DAL and UAL?
According to the Transportation industry distribution chart, Air New Zealand ranks #87 out of 939 companies for 3-Year ROIIC %. This places Air New Zealand in the top 9% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 1.97. Air New Zealand's value of 63.52 is 3124.4% above this benchmark. While the company's 10-year median is 15.63 vs. the industry median of 1.97, Air New Zealand has consistently been above the industry average. 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 Transportation company?
The median 3-Year ROIIC % among Transportation companies is 1.97, based on 939 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. Air New Zealand's current 3-Year ROIIC % of 63.52 is 3124.4% 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 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 Air New Zealand and its competitors. For the Transportation industry, the median 3-Year ROIIC % is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air New Zealand's current 3-Year ROIIC % is 63.52, which is 306% above median its own 10-year median of 15.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air New Zealand stock overvalued right now?
Based on GuruFocus' analysis, Air New Zealand (ASX:AIZ) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.53, compared to a current price of A$0.35 — trading 34.9% below its estimated fair value. The current 3-Year ROIIC % is 63.52, which is 306% above median its 10-year median of 15.63 and 3124.4% above the Transportation industry median of 1.97. Air New Zealand's overall GF Score™ is 32/100 with 6 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 Air New Zealand (ASX:AIZ), the current 3-Year ROIIC % is 63.52 as of Jun. 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 Air New Zealand (ASX:AIZ) Overvalued in 2026?
Based on GuruFocus' analysis, Air New Zealand stock appears to be undervalued.
The current stock price of A$0.35 is trading 34.9% below its estimated GF Value™ of A$0.53.
GuruFocus considers Air New Zealand to be Possible Value Trap.
Key valuation signals for ASX:AIZ:
3-Year ROIIC %: 63.52 (306% above median its 10-year median of 15.63)
GF Value™: A$0.53 vs. price of A$0.35 (34.9% below fair value)
Industry Position: 3124.4% above the Transportation median (#87 of 939)
No single metric tells the full story. See the ASX:AIZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air New Zealand, majority owned by the New Zealand government, provides air passenger and cargo transport services within New Zealand as well as to and from Australia, the Southwest Pacific, Asia, North America, the United Kingdom, and South America. Air New Zealand also encompasses business units providing engineering and ground handling services. Air New Zealand dominates the local market with around 80% share, although the majority of revenue is derived from international and trans-Tasman activity.
32GF Score
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