ASXASX:ASX -1.60%81 3-Year ROIIC % is 4.97 as of Jun. 2025, which is 138% above its 10-year median of 2.09. GuruFocus rates ASX:ASX with a GF Score™ of 81/100 and a GF Value™ of A$75.64 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 658 Capital Markets companies, ASX ranks better than 54.71% 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.
ASX's 3-Year ROIIC % for the quarter that ended in Jun. 2025 was 4.97%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for ASX's 3-Year ROIIC % or its related term are showing as below:
ASX:ASX's 3-Year ROIIC % is ranked better than 54.71% of 658
companies
in the Capital Markets industry
Industry Median: 2.78
vs ASX:ASX: 4.97
ASX (ASX:ASX) 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.
ASX 3-Year ROIIC % Related Terms
ASX 3-Year ROIIC % Historical Data
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The historical data trend for ASX'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:ASX vs SPGI, CME, MCO: 3-Year ROIIC % Comparison
For the Financial Data & Stock Exchanges subindustry, ASX'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.
ASX 3-Year ROIIC % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ASX's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where ASX's 3-Year ROIIC % falls into.
ASX's 3-Year ROIIC % for the quarter that ended in Jun. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 449.60792 (Jun. 2025) - 489.56853 (Jun. 2022) )
/
( 15361 (Jun. 2025) - 16165 (Jun. 2022) )
=
-39.96061
/
-804
=
4.97%***
* 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.
ASX (ASX:ASX) has a 3-Year ROIIC % of 4.97 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 ASX and its competitors. This is 138% above median its historical median of 2.09. Over the past decade, ASX's 3-Year ROIIC % has ranged from 1.06 to 7.90. According to the industry distribution chart, ASX ranks #298 out of 658 companies in the Capital Markets industry, placing it in the top 45.3%.
Is ASX's 3-Year ROIIC % too high?
ASX's current 3-Year ROIIC % of 4.97 is 138% above median its 10-year median of 2.09. Over the past 10 years, this metric has ranged from a low of 1.06 to a high of 7.90. The Capital Markets industry median 3-Year ROIIC % is 2.78. ASX's value of 4.97 is 78.8% above this industry median. Based on the distribution chart, ASX ranks #298 out of 658 companies in the Capital Markets industry, which is above the industry midpoint. Overall, ASX has a GF Score™ of 81/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ASX's 3-Year ROIIC % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, ASX ranks #298 out of 658 companies for 3-Year ROIIC %. This puts ASX in the upper half of its industry. The industry median 3-Year ROIIC % is 2.78. ASX's value of 4.97 is 78.8% above this benchmark. Historically, ASX's own 3-Year ROIIC % has ranged from 1.06 to 7.90 over the past decade. While the company's 10-year median is 2.09 vs. the industry median of 2.78, ASX 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 Capital Markets company?
The median 3-Year ROIIC % among Capital Markets companies is 2.78, based on 658 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. ASX's current 3-Year ROIIC % of 4.97 is 78.8% 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 ASX and its competitors. For the Capital Markets industry, the median 3-Year ROIIC % is 2.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASX's current 3-Year ROIIC % is 4.97, which is 138% above median its own 10-year median of 2.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASX stock overvalued right now?
Based on GuruFocus' analysis, ASX (ASX:ASX) is currently considered Possible Value Trap. The stock's GF Value™ is A$75.64, compared to a current price of A$52.25 — trading 30.9% below its estimated fair value. The current 3-Year ROIIC % is 4.97, which is 138% above median its 10-year median of 2.09 and 78.8% above the Capital Markets industry median of 2.78. ASX's overall GF Score™ is 81/100 with 5 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 ASX (ASX:ASX), the current 3-Year ROIIC % is 4.97 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 ASX (ASX:ASX) Overvalued in 2026?
Based on GuruFocus' analysis, ASX stock appears to be undervalued.
The current stock price of A$52.25 is trading 30.9% below its estimated GF Value™ of A$75.64.
GuruFocus considers ASX to be Possible Value Trap.
Key valuation signals for ASX:ASX:
3-Year ROIIC %: 4.97 (138% above median its 10-year median of 2.09)
GF Value™: A$75.64 vs. price of A$52.25 (30.9% below fair value)
Industry Position: 78.8% above the Capital Markets median (#298 of 658)
No single metric tells the full story. See the ASX:ASX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Australian Securities Exchange is a vertically integrated securities exchange business offering listing, data, trading, clearing, and settlement services across equities, debt, and derivatives. ASX benefits from various effective monopolies across its business and a disproportionately large listings business from Australia's outsize natural resources sector.
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