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.
Companhia de Eletricidade do Estado da Bahia – Coelba's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 15.57%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
BSP:CEEB3's 3-Year ROIIC % is ranked better than 81.05% of 475
companies
in the Utilities - Regulated industry
Industry Median: 4.07
vs BSP:CEEB3: 15.57
Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) 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.
Companhia de Eletricidade do Estado da Bahia – Coelba 3-Year ROIIC % Related Terms
Companhia de Eletricidade do Estado da Bahia – Coelba 3-Year ROIIC % Historical Data
* 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.
Companhia de Eletricidade do Estado da Bahia – Coelba 3-Year ROIIC % Chart
Companhia de Eletricidade do Estado da Bahia – Coelba Annual Data
* 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.
Companhia de Eletricidade do Estado da Bahia – Coelba 3-Year ROIIC % vs Utilities - Regulated Industry
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 4007.8142 (Dec. 2025) - 2699.6304 (Dec. 2022) )
/
( 31823 (Dec. 2025) - 23422 (Dec. 2022) )
=
1308.1838
/
8401
=
15.57%***
* 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.
Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) has a 3-Year ROIIC % of 15.57 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 Companhia de Eletricidade do Estado da Bahia – Coelba and its competitors. This is 16% above median its historical median of 13.44. According to the industry distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #90 out of 475 companies in the Utilities - Regulated industry, placing it in the top 18.9%.
Is Companhia de Eletricidade do Estado da Bahia – Coelba's 3-Year ROIIC % too high?
Companhia de Eletricidade do Estado da Bahia – Coelba's current 3-Year ROIIC % of 15.57 is 16% above median its 10-year median of 13.44. The Utilities - Regulated industry median 3-Year ROIIC % is 4.07. Companhia de Eletricidade do Estado da Bahia – Coelba's value of 15.57 is 282.6% above this industry median. Based on the distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #90 out of 475 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Companhia de Eletricidade do Estado da Bahia – Coelba has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Companhia de Eletricidade do Estado da Bahia – Coelba's 3-Year ROIIC % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Companhia de Eletricidade do Estado da Bahia – Coelba ranks #90 out of 475 companies for 3-Year ROIIC %. This places Companhia de Eletricidade do Estado da Bahia – Coelba in the top 19% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 4.07. Companhia de Eletricidade do Estado da Bahia – Coelba's value of 15.57 is 282.6% above this benchmark. While the company's 10-year median is 13.44 vs. the industry median of 4.07, Companhia de Eletricidade do Estado da Bahia – Coelba 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 an Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 4.07, based on 475 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. Companhia de Eletricidade do Estado da Bahia – Coelba's current 3-Year ROIIC % of 15.57 is 282.6% 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 Companhia de Eletricidade do Estado da Bahia – Coelba and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 4.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Companhia de Eletricidade do Estado da Bahia – Coelba's current 3-Year ROIIC % is 15.57, which is 16% above median its own 10-year median of 13.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Companhia de Eletricidade do Estado da Bahia – Coelba stock overvalued right now?
Based on GuruFocus' analysis, Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) is currently considered Fairly Valued. The stock's GF Value™ is R$46.40, compared to a current price of R$45.69 — trading 1.5% below its estimated fair value. The current 3-Year ROIIC % is 15.57, which is 16% above median its 10-year median of 13.44 and 282.6% above the Utilities - Regulated industry median of 4.07. Companhia de Eletricidade do Estado da Bahia – Coelba's overall GF Score™ is 76/100 with 6 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 Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3), the current 3-Year ROIIC % is 15.57 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 Companhia de Eletricidade do Estado da Bahia – Coelba (BSP:CEEB3) Overvalued in 2026?
Based on GuruFocus' analysis, Companhia de Eletricidade do Estado da Bahia – Coelba stock appears to be undervalued.
The current stock price of R$45.69 is trading 1.5% below its estimated GF Value™ of R$46.40.
GuruFocus considers Companhia de Eletricidade do Estado da Bahia – Coelba to be Fairly Valued.
Key valuation signals for BSP:CEEB3:
3-Year ROIIC %: 15.57 (16% above median its 10-year median of 13.44)
GF Value™: R$46.40 vs. price of R$45.69 (1.5% below fair value)
Industry Position: 282.6% above the Utilities - Regulated median (#90 of 475)
No single metric tells the full story. See the BSP:CEEB3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Companhia de Eletricidade do Estado da Bahia – Coelba Business Description
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BSP:CEEB3 has been successfully added to your 
