Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
GMR AirportsBOM:532754 +0.05%78 3-Year ROIIC % is 17.32 as of Mar. 2026, which is 10725% above its 10-year median of 0.16. GuruFocus rates BOM:532754 with a GF Score™ of 78/100 and a GF Value™ of ₹99.24 (Fairly Valued). The stock has 4 warning signs investors should review. Among 947 Transportation companies, GMR Airports ranks better than 76.56% 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.
GMR Airports's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 17.32%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for GMR Airports's 3-Year ROIIC % or its related term are showing as below:
BOM:532754's 3-Year ROIIC % is ranked better than 76.56% of 947
companies
in the Transportation industry
Industry Median: 1.8
vs BOM:532754: 17.32
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.
GMR Airports 3-Year ROIIC % Related Terms
GMR Airports 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for GMR Airports'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.
BOM:532754 vs JOBY, CAAP: 3-Year ROIIC % Comparison
For the Airports & Air Services subindustry, GMR Airports'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.
GMR Airports 3-Year ROIIC % vs Transportation Industry
For the Transportation industry and Industrials sector, GMR Airports's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where GMR Airports's 3-Year ROIIC % falls into.
GMR Airports's 3-Year ROIIC % for the quarter that ended in Mar. 2026 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 32168.9108 (Mar. 2026) - 6694.4 (Mar. 2023) )
/
( 547400.7 (Mar. 2026) - 400339.5 (Mar. 2023) )
=
25474.5108
/
147061.2
=
17.32%***
* 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.
GMR Airports (BOM:532754) has a 3-Year ROIIC % of 17.32 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on GMR Airports and its competitors. This is 10725% above median its historical median of 0.16. According to the industry distribution chart, GMR Airports ranks #222 out of 947 companies in the Transportation industry, placing it in the top 23.4%.
Is GMR Airports' 3-Year ROIIC % too high?
GMR Airports' current 3-Year ROIIC % of 17.32 is 10725% above median its 10-year median of 0.16. The Transportation industry median 3-Year ROIIC % is 1.80. GMR Airports' value of 17.32 is 862.2% above this industry median. Based on the distribution chart, GMR Airports ranks #222 out of 947 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, GMR Airports has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GMR Airports' 3-Year ROIIC % compare to JOBY and CAAP?
According to the Transportation industry distribution chart, GMR Airports ranks #222 out of 947 companies for 3-Year ROIIC %. This places GMR Airports in the top 23% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 1.80. GMR Airports' value of 17.32 is 862.2% above this benchmark. While the company's 10-year median is 0.16 vs. the industry median of 1.80, GMR Airports 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 1.80, based on 947 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. GMR Airports's current 3-Year ROIIC % of 17.32 is 862.2% 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 GMR Airports and its competitors. For the Transportation industry, the median 3-Year ROIIC % is 1.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GMR Airports's current 3-Year ROIIC % is 17.32, which is 10725% above median its own 10-year median of 0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GMR Airports stock overvalued right now?
Based on GuruFocus' analysis, GMR Airports (BOM:532754) is currently considered Fairly Valued. The stock's GF Value™ is ₹99.24, compared to a current price of ₹94.04 — trading 5.2% below its estimated fair value. The current 3-Year ROIIC % is 17.32, which is 10725% above median its 10-year median of 0.16 and 862.2% above the Transportation industry median of 1.80. GMR Airports' overall GF Score™ is 78/100 with 4 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 GMR Airports (BOM:532754), the current 3-Year ROIIC % is 17.32 as of Mar. 2026. 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 GMR Airports (BOM:532754) Overvalued in 2026?
Based on GuruFocus' analysis, GMR Airports stock appears to be undervalued.
The current stock price of ₹94.04 is trading 5.2% below its estimated GF Value™ of ₹99.24.
GuruFocus considers GMR Airports to be Fairly Valued.
Key valuation signals for BOM:532754:
3-Year ROIIC %: 17.32 (10725% above median its 10-year median of 0.16)
GF Value™: ₹99.24 vs. price of ₹94.04 (5.2% below fair value)
Industry Position: 862.2% above the Transportation median (#222 of 947)
No single metric tells the full story. See the BOM:532754 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GMR Airports Ltd is an airport platform company engaged in designing, constructing, and operating airports. Under the brand name GMR AERO, it offers aviation solutions in retail, aero services, and real estate. The group's portfolio comprises various airports such as Delhi International Airport, Hyderabad International Airport, Mactan Cebu International Airport in Philippines, Bidar Airport, Crete International Airport in Greece, and others.
78GF Score
Get the complete analysis for BOM:532754
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOM:532754 has been successfully added to your 
