Vicinity CentresASX:VCX -1.53%69 3-Year ROIIC % is 5.89 as of Jun. 2025, which is 19% below its 10-year median of 7.29. GuruFocus rates ASX:VCX with a GF Score™ of 69/100 and a GF Value™ of A$1.81 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 699 REITs companies, Vicinity Centres ranks better than 64.52% 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.
Vicinity Centres's 3-Year ROIIC % for the quarter that ended in Jun. 2025 was 5.89%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Vicinity Centres's 3-Year ROIIC % or its related term are showing as below:
ASX:VCX's 3-Year ROIIC % is ranked better than 64.52% of 699
companies
in the REITs industry
Industry Median: 3.52
vs ASX:VCX: 5.89
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.
Vicinity Centres 3-Year ROIIC % Related Terms
Vicinity Centres 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Vicinity Centres'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.
For the REIT - Retail subindustry, Vicinity Centres'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.
Vicinity Centres 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Vicinity Centres's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Vicinity Centres's 3-Year ROIIC % falls into.
Vicinity Centres'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**
=
( 766.1 (Jun. 2025) - 665.1 (Jun. 2022) )
/
( 17244 (Jun. 2025) - 15529.4 (Jun. 2022) )
=
101
/
1714.6
=
5.89%***
* 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.
Vicinity Centres (ASX:VCX) has a 3-Year ROIIC % of 5.89 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 Vicinity Centres and its competitors. This is 19% below median its historical median of 7.29. According to the industry distribution chart, Vicinity Centres ranks #248 out of 699 companies in the REITs industry, placing it in the top 35.5%.
Is Vicinity Centres' 3-Year ROIIC % too high?
Vicinity Centres' current 3-Year ROIIC % of 5.89 is 19% below median its 10-year median of 7.29. The REITs industry median 3-Year ROIIC % is 3.52. Vicinity Centres' value of 5.89 is 67.3% above this industry median. Based on the distribution chart, Vicinity Centres ranks #248 out of 699 companies in the REITs industry, which is above the industry midpoint. Overall, Vicinity Centres has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vicinity Centres' 3-Year ROIIC % compare to SPG and O?
According to the REITs industry distribution chart, Vicinity Centres ranks #248 out of 699 companies for 3-Year ROIIC %. This puts Vicinity Centres in the upper half of its industry. The industry median 3-Year ROIIC % is 3.52. Vicinity Centres' value of 5.89 is 67.3% above this benchmark. While the company's 10-year median is 7.29 vs. the industry median of 3.52, Vicinity Centres 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 REITs company?
The median 3-Year ROIIC % among REITs companies is 3.52, based on 699 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. Vicinity Centres's current 3-Year ROIIC % of 5.89 is 67.3% 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 Vicinity Centres and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vicinity Centres's current 3-Year ROIIC % is 5.89, which is 19% below median its own 10-year median of 7.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vicinity Centres stock overvalued right now?
Based on GuruFocus' analysis, Vicinity Centres (ASX:VCX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.81, compared to a current price of A$2.58 — trading 42.5% above its estimated fair value. The current 3-Year ROIIC % is 5.89, which is 19% below median its 10-year median of 7.29 and 67.3% above the REITs industry median of 3.52. Vicinity Centres' overall GF Score™ is 69/100 with 9 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 Vicinity Centres (ASX:VCX), the current 3-Year ROIIC % is 5.89 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 Vicinity Centres (ASX:VCX) Overvalued in 2026?
Based on GuruFocus' analysis, Vicinity Centres stock appears to be overvalued.
The current stock price of A$2.58 is trading 42.5% above its estimated GF Value™ of A$1.81.
GuruFocus considers Vicinity Centres to be Significantly Overvalued.
Key valuation signals for ASX:VCX:
3-Year ROIIC %: 5.89 (19% below median its 10-year median of 7.29)
GF Value™: A$1.81 vs. price of A$2.58 (42.5% above fair value)
Industry Position: 67.3% above the REITs median (#248 of 699)
No single metric tells the full story. See the ASX:VCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vicinity Centres operates about 50 shopping malls in Australia. They include several iconic city centers, like Queen Victoria Building, The Strand Arcade and The Galeries in Sydney, which are frequented by tourists and office workers nearby. Melbourne's Chadstone, Vicinity's crown jewel, is Australia's largest and highest turnover shopping mall. Smaller regional and neighborhood centers, to which Vicinity is consciously trimming exposure, account for around 15% of the portfolio. Vast majority of Vicinity's income is derived from rents. The group also earns small management fees for managing properties and development projects on behalf of capital partners.
69GF Score
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