West African ResourcesASX:WAF +4.68%97 3-Year ROIIC % is 29.40 as of Dec. 2025, which is 14% above its 10-year median of 25.88. GuruFocus rates ASX:WAF with a GF Score™ of 97/100 and a GF Value™ of A$4.49 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,300 Metals & Mining companies, West African Resources ranks better than 77.65% 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.
West African Resources's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 29.40%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for West African Resources's 3-Year ROIIC % or its related term are showing as below:
ASX:WAF's 3-Year ROIIC % is ranked better than 77.65% of 2300
companies
in the Metals & Mining industry
Industry Median: -2.525
vs ASX:WAF: 29.40
West African Resources (ASX:WAF) 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.
West African Resources 3-Year ROIIC % Related Terms
West African Resources 3-Year ROIIC % Historical Data
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The historical data trend for West African Resources'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 Gold subindustry, West African Resources'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.
West African Resources 3-Year ROIIC % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, West African Resources's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where West African Resources'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.
West African Resources (ASX:WAF) has a 3-Year ROIIC % of 29.40 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 West African Resources and its competitors. This is 14% above median its historical median of 25.88. According to the industry distribution chart, West African Resources ranks #514 out of 2300 companies in the Metals & Mining industry, placing it in the top 22.3%.
Is West African Resources' 3-Year ROIIC % too high?
West African Resources' current 3-Year ROIIC % of 29.40 is 14% above median its 10-year median of 25.88. Based on the distribution chart, West African Resources ranks #514 out of 2300 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, West African Resources has a GF Score™ of 97/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does West African Resources' 3-Year ROIIC % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, West African Resources ranks #514 out of 2300 companies for 3-Year ROIIC %. This places West African Resources in the top 22% of its industry — outperforming the majority of peers. 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 Metals & Mining company?
A good 3-Year ROIIC % depends on the Metals & Mining industry context. 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 West African Resources and its competitors. West African Resources's current 3-Year ROIIC % is 29.40, which is 14% above median its own 10-year median of 25.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is West African Resources stock overvalued right now?
Based on GuruFocus' analysis, West African Resources (ASX:WAF) is currently considered Significantly Undervalued. The stock's GF Value™ is A$4.49, compared to a current price of A$2.91 — trading 35.2% below its estimated fair value. The current 3-Year ROIIC % is 29.40, which is 14% above median its 10-year median of 25.88. West African Resources' overall GF Score™ is 97/100 with 3 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 West African Resources (ASX:WAF), the current 3-Year ROIIC % is 29.40 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 West African Resources (ASX:WAF) Overvalued in 2026?
Based on GuruFocus' analysis, West African Resources stock appears to be undervalued.
The current stock price of A$2.91 is trading 35.2% below its estimated GF Value™ of A$4.49.
GuruFocus considers West African Resources to be Significantly Undervalued.
Key valuation signals for ASX:WAF:
3-Year ROIIC %: 29.40 (14% above median its 10-year median of 25.88)
GF Value™: A$4.49 vs. price of A$2.91 (35.2% below fair value)
No single metric tells the full story. See the ASX:WAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. The Group's mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso. The operating segments of the Company that includes Mining Operations: comprise the Sanbrado Gold Project operation located in Burkina Faso. Construction and E&E segment comprises mines under construction andexploration and evaluation (E&E) projects in locations other than Sanbrado.
97GF Score
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