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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.
BioXcel Therapeutics's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 433.15%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for BioXcel Therapeutics's 3-Year ROIIC % or its related term are showing as below:
BTAI's 3-Year ROIIC % is ranked better than 97.26% of 948
companies
in the Drug Manufacturers industry
Industry Median: 3.72
vs BTAI: 433.15
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.
BioXcel Therapeutics 3-Year ROIIC % Related Terms
BioXcel Therapeutics 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for BioXcel Therapeutics'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.
BTAI vs IXHL, SCYX, INIS: 3-Year ROIIC % Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, BioXcel Therapeutics'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.
BioXcel Therapeutics 3-Year ROIIC % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, BioXcel Therapeutics's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where BioXcel Therapeutics's 3-Year ROIIC % falls into.
BioXcel Therapeutics'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**
=
( -50.267 (Dec. 2025) - -159.645 (Dec. 2022) )
/
( 35.011 (Dec. 2025) - 9.759 (Dec. 2022) )
=
109.378
/
25.252
=
433.15%***
* 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.
BioXcel Therapeutics (BTAI) has a 3-Year ROIIC % of 433.15 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 BioXcel Therapeutics and its competitors. According to the industry distribution chart, BioXcel Therapeutics ranks #26 out of 948 companies in the Drug Manufacturers industry, placing it in the top 2.7%.
Is BioXcel Therapeutics' 3-Year ROIIC % too high?
BioXcel Therapeutics' current 3-Year ROIIC % is 433.15. The Drug Manufacturers industry median 3-Year ROIIC % is 3.72. BioXcel Therapeutics' value of 433.15 is 11543.8% above this industry median. Based on the distribution chart, BioXcel Therapeutics ranks #26 out of 948 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, BioXcel Therapeutics has a GF Score™ of 8/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BioXcel Therapeutics' 3-Year ROIIC % compare to IXHL and SCYX?
According to the Drug Manufacturers industry distribution chart, BioXcel Therapeutics ranks #26 out of 948 companies for 3-Year ROIIC %. This places BioXcel Therapeutics in the top 3% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.72. BioXcel Therapeutics' value of 433.15 is 11543.8% above this benchmark. 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 Drug Manufacturers company?
The median 3-Year ROIIC % among Drug Manufacturers companies is 3.72, based on 948 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. BioXcel Therapeutics's current 3-Year ROIIC % of 433.15 is 11543.8% 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 BioXcel Therapeutics and its competitors. For the Drug Manufacturers industry, the median 3-Year ROIIC % is 3.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BioXcel Therapeutics's current 3-Year ROIIC % is 433.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioXcel Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, BioXcel Therapeutics (BTAI) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.67, compared to a current price of $0.89 — trading 32.4% above its estimated fair value. The current 3-Year ROIIC % is 433.15 and 11543.8% above the Drug Manufacturers industry median of 3.72. BioXcel Therapeutics' overall GF Score™ is 8/100 with 5 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 BioXcel Therapeutics (BTAI), the current 3-Year ROIIC % is 433.15 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 BioXcel Therapeutics (BTAI) Overvalued in 2026?
Based on GuruFocus' analysis, BioXcel Therapeutics stock appears to be overvalued.
The current stock price of $0.89 is trading 32.4% above its estimated GF Value™ of $0.67.
GuruFocus considers BioXcel Therapeutics to be Significantly Overvalued.
Key valuation signals for BTAI:
3-Year ROIIC %: 433.15
GF Value™: $0.67 vs. price of $0.89 (32.4% above fair value)
Industry Position: 11543.8% above the Drug Manufacturers median (#26 of 948)
No single metric tells the full story. See the BTAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BioXcel Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is focused on drug development utilizing novel artificial intelligence (AI) to identify the next wave of medicines across neuroscience and immuno-oncology. The pipeline products of the company are-BXCL501, being evaluated as a potential treatment for agitation associated with multiple neurological disorders and BXCL701, an investigational oral innate immune activator for the treatment of aggressive forms of prostate cancer and other solid and liquid tumors. The company's commercial product, IGALMI (developed as BXCL501) is a proprietary, sublingual film formulation of dexmedetomidine approved by the FDA for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.
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