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Thai Wacoal PCLBKK:WACOAL 59 3-Year ROIIC % is 56.61 as of Dec. 2025, which is 63% above its 10-year median of 34.79. GuruFocus rates BKK:WACOAL with a GF Score™ of 59/100 and a GF Value™ of ฿22.60 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,005 Manufacturing - Apparel & Accessories companies, Thai Wacoal PCL ranks better than 88.06% 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.
Thai Wacoal PCL's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 56.61%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Thai Wacoal PCL's 3-Year ROIIC % or its related term are showing as below:
BKK:WACOAL's 3-Year ROIIC % is ranked better than 88.06% of 1005
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 1.55
vs BKK:WACOAL: 56.61
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.
Thai Wacoal PCL 3-Year ROIIC % Related Terms
Thai Wacoal PCL 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Thai Wacoal PCL'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.
BKK:WACOAL vs RL, LEVI, VFC: 3-Year ROIIC % Comparison
For the Apparel Manufacturing subindustry, Thai Wacoal PCL'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.
Thai Wacoal PCL 3-Year ROIIC % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Thai Wacoal PCL's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Thai Wacoal PCL's 3-Year ROIIC % falls into.
Thai Wacoal PCL'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**
=
( -433.343 (Dec. 2025) - 2.584044 (Dec. 2022) )
/
( 4822.953 (Dec. 2025) - 5592.968 (Dec. 2022) )
=
-435.927044
/
-770.015
=
56.61%***
* 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.
Thai Wacoal PCL (BKK:WACOAL) has a 3-Year ROIIC % of 56.61 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 Thai Wacoal PCL and its competitors. This is 63% above median its historical median of 34.79. According to the industry distribution chart, Thai Wacoal PCL ranks #120 out of 1005 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 11.9%.
Is Thai Wacoal PCL's 3-Year ROIIC % too high?
Thai Wacoal PCL's current 3-Year ROIIC % of 56.61 is 63% above median its 10-year median of 34.79. The Manufacturing - Apparel & Accessories industry median 3-Year ROIIC % is 1.55. Thai Wacoal PCL's value of 56.61 is 3552.3% above this industry median. Based on the distribution chart, Thai Wacoal PCL ranks #120 out of 1005 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Thai Wacoal PCL has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Thai Wacoal PCL's 3-Year ROIIC % compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Thai Wacoal PCL ranks #120 out of 1005 companies for 3-Year ROIIC %. This places Thai Wacoal PCL in the top 12% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 1.55. Thai Wacoal PCL's value of 56.61 is 3552.3% above this benchmark. While the company's 10-year median is 34.79 vs. the industry median of 1.55, Thai Wacoal PCL 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 Manufacturing - Apparel & Accessories company?
The median 3-Year ROIIC % among Manufacturing - Apparel & Accessories companies is 1.55, based on 1,005 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. Thai Wacoal PCL's current 3-Year ROIIC % of 56.61 is 3552.3% 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 Thai Wacoal PCL and its competitors. For the Manufacturing - Apparel & Accessories industry, the median 3-Year ROIIC % is 1.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Wacoal PCL's current 3-Year ROIIC % is 56.61, which is 63% above median its own 10-year median of 34.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Wacoal PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Wacoal PCL (BKK:WACOAL) is currently considered Possible Value Trap. The stock's GF Value™ is ฿22.60, compared to a current price of ฿15.80 — trading 30.1% below its estimated fair value. The current 3-Year ROIIC % is 56.61, which is 63% above median its 10-year median of 34.79 and 3552.3% above the Manufacturing - Apparel & Accessories industry median of 1.55. Thai Wacoal PCL's overall GF Score™ is 59/100 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 Thai Wacoal PCL (BKK:WACOAL), the current 3-Year ROIIC % is 56.61 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 Thai Wacoal PCL (BKK:WACOAL) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Wacoal PCL stock appears to be undervalued.
The current stock price of ฿15.80 is trading 30.1% below its estimated GF Value™ of ฿22.60.
GuruFocus considers Thai Wacoal PCL to be Possible Value Trap.
Key valuation signals for BKK:WACOAL:
3-Year ROIIC %: 56.61 (63% above median its 10-year median of 34.79)
GF Value™: ฿22.60 vs. price of ฿15.80 (30.1% below fair value)
Industry Position: 3552.3% above the Manufacturing - Apparel & Accessories median (#120 of 1005)
No single metric tells the full story. See the BKK:WACOAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Wacoal PCL is a Thailand-based garment manufacturing company. It manufactures and sells finished garment products, consisting of Ladies' lingerie, childrenswear and ladies outerwear. The key revenue driver product of the company is Ladies' lingerie, which is sold under the brand name of Wacoal. The company's operating segment is based on domestic sales and export sales of which a majority of the revenue is generated from domestic sales.
59GF Score
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