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BQE WaterBTQNF -12.02%78 3-Year ROIIC % is 126.59 as of Dec. 2025, which is 1110% above its 10-year median of 10.46. GuruFocus rates BTQNF with a GF Score™ of 78/100 and a GF Value™ of $56.41 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 229 Waste Management companies, BQE Water ranks better than 95.63% 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.
BQE Water's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 126.59%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for BQE Water's 3-Year ROIIC % or its related term are showing as below:
BTQNF's 3-Year ROIIC % is ranked better than 95.63% of 229
companies
in the Waste Management industry
Industry Median: 3.54
vs BTQNF: 126.59
BQE Water (OTCPK:BTQNF) 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.
BQE Water 3-Year ROIIC % Related Terms
BQE Water 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for BQE Water'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 Waste Management subindustry, BQE Water'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.
BQE Water 3-Year ROIIC % vs Waste Management Industry
For the Waste Management industry and Industrials sector, BQE Water's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where BQE Water's 3-Year ROIIC % falls into.
BQE Water'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**
=
( 4.473 (Dec. 2025) - -0.067184 (Dec. 2022) )
/
( 9.757 (Dec. 2025) - 6.266 (Dec. 2022) )
=
4.540184
/
3.491
=
130.05%***
* 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.
BQE Water (BTQNF) has a 3-Year ROIIC % of 126.59 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 BQE Water and its competitors. This is 1110% above median its historical median of 10.46. According to the industry distribution chart, BQE Water ranks #10 out of 229 companies in the Waste Management industry, placing it in the top 4.4%.
Is BQE Water's 3-Year ROIIC % too high?
BQE Water's current 3-Year ROIIC % of 126.59 is 1110% above median its 10-year median of 10.46. The Waste Management industry median 3-Year ROIIC % is 3.54. BQE Water's value of 126.59 is 3476% above this industry median. Based on the distribution chart, BQE Water ranks #10 out of 229 companies in the Waste Management industry, which is in the top quartile — a strong position relative to peers. Overall, BQE Water has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BQE Water's 3-Year ROIIC % compare to WM and RSG?
According to the Waste Management industry distribution chart, BQE Water ranks #10 out of 229 companies for 3-Year ROIIC %. This places BQE Water in the top 4% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.54. BQE Water's value of 126.59 is 3476% above this benchmark. While the company's 10-year median is 10.46 vs. the industry median of 3.54, BQE Water 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 Waste Management company?
The median 3-Year ROIIC % among Waste Management companies is 3.54, based on 229 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. BQE Water's current 3-Year ROIIC % of 126.59 is 3476% 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 BQE Water and its competitors. For the Waste Management industry, the median 3-Year ROIIC % is 3.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BQE Water's current 3-Year ROIIC % is 126.59, which is 1110% above median its own 10-year median of 10.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BQE Water stock overvalued right now?
Based on GuruFocus' analysis, BQE Water (BTQNF) is currently considered Modestly Undervalued. The stock's GF Value™ is $56.41, compared to a current price of $48.09 — trading 14.7% below its estimated fair value. The current 3-Year ROIIC % is 126.59, which is 1110% above median its 10-year median of 10.46 and 3476% above the Waste Management industry median of 3.54. BQE Water's overall GF Score™ is 78/100 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 BQE Water (BTQNF), the current 3-Year ROIIC % is 126.59 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 BQE Water (BTQNF) Overvalued in 2026?
Based on GuruFocus' analysis, BQE Water stock appears to be undervalued.
The current stock price of $48.09 is trading 14.7% below its estimated GF Value™ of $56.41.
GuruFocus considers BQE Water to be Modestly Undervalued.
Key valuation signals for BTQNF:
3-Year ROIIC %: 126.59 (1110% above median its 10-year median of 10.46)
GF Value™: $56.41 vs. price of $48.09 (14.7% below fair value)
Industry Position: 3476% above the Waste Management median (#10 of 229)
No single metric tells the full story. See the BTQNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BQE Water Inc is a service provider specializing in water treatment and management for metals mining, smelting and refining. It is helping to transform the way the industry thinks about water in the context of natural resource projects by offering services and expertise that enable more sustainable water management practices and improved overall project performance at reduced risks. BQE Water invests in and has developed intellectual property through the commercialization of several new technologies at mine sites around the world for organizations including Glencore, Jiangxi Copper, Freeport-McMoRan and the US EPA.
78GF Score
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