Bavarian Nordic ASCHIX:BAVAC 84 3-Year ROIIC % is 161.06 as of Dec. 2025, which is 647% above its 10-year median of 21.56. GuruFocus rates CHIX:BAVAC with a GF Score™ of 84/100 and a GF Value™ of kr163.41 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,318 Biotechnology companies, Bavarian Nordic AS ranks better than 82.32% 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.
Bavarian Nordic AS's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 161.06%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Bavarian Nordic AS's 3-Year ROIIC % or its related term are showing as below:
CHIX:BAVAc's 3-Year ROIIC % is ranked better than 82.32% of 1318
companies
in the Biotechnology industry
Industry Median: -4.63
vs CHIX:BAVAc: 161.06
Bavarian Nordic AS (CHIX:BAVAc) 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.
Bavarian Nordic AS 3-Year ROIIC % Related Terms
Bavarian Nordic AS 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Bavarian Nordic AS'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.
CHIX:BAVAC vs VRTX, REGN, ALNY: 3-Year ROIIC % Comparison
For the Biotechnology subindustry, Bavarian Nordic AS'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.
Bavarian Nordic AS 3-Year ROIIC % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Bavarian Nordic AS's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Bavarian Nordic AS's 3-Year ROIIC % falls into.
Bavarian Nordic AS'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**
=
( 1378.02028 (Dec. 2025) - -70.785 (Dec. 2022) )
/
( 10363.094 (Dec. 2025) - 9463.574 (Dec. 2022) )
=
1448.80528
/
899.52
=
161.06%***
* 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.
Bavarian Nordic AS (CHIX:BAVAC) has a 3-Year ROIIC % of 161.06 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 Bavarian Nordic AS and its competitors. This is 647% above median its historical median of 21.56. According to the industry distribution chart, Bavarian Nordic AS ranks #233 out of 1318 companies in the Biotechnology industry, placing it in the top 17.7%.
Is Bavarian Nordic AS's 3-Year ROIIC % too high?
Bavarian Nordic AS's current 3-Year ROIIC % of 161.06 is 647% above median its 10-year median of 21.56. Based on the distribution chart, Bavarian Nordic AS ranks #233 out of 1318 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Bavarian Nordic AS has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bavarian Nordic AS's 3-Year ROIIC % compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Bavarian Nordic AS ranks #233 out of 1318 companies for 3-Year ROIIC %. This places Bavarian Nordic AS in the top 18% of its industry — outperforming the majority of peers. 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 Biotechnology company?
A good 3-Year ROIIC % depends on the Biotechnology industry context. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Bavarian Nordic AS and its competitors. Bavarian Nordic AS's current 3-Year ROIIC % is 161.06, which is 647% above median its own 10-year median of 21.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bavarian Nordic AS stock overvalued right now?
Based on GuruFocus' analysis, Bavarian Nordic AS (CHIX:BAVAC) is currently considered Modestly Overvalued. The stock's GF Value™ is kr163.41, compared to a current price of kr188.30 — trading 15.2% above its estimated fair value. The current 3-Year ROIIC % is 161.06, which is 647% above median its 10-year median of 21.56. Bavarian Nordic AS's overall GF Score™ is 84/100 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 Bavarian Nordic AS (CHIX:BAVAC), the current 3-Year ROIIC % is 161.06 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 Bavarian Nordic AS (CHIX:BAVAC) Overvalued in 2026?
Based on GuruFocus' analysis, Bavarian Nordic AS stock appears to be overvalued.
The current stock price of kr188.30 is trading 15.2% above its estimated GF Value™ of kr163.41.
GuruFocus considers Bavarian Nordic AS to be Modestly Overvalued.
Key valuation signals for CHIX:BAVAC:
3-Year ROIIC %: 161.06 (647% above median its 10-year median of 21.56)
GF Value™: kr163.41 vs. price of kr188.30 (15.2% above fair value)
No single metric tells the full story. See the CHIX:BAVAC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bavarian Nordic AS is a biotechnology company focused on the research, development, manufacturing, and commercialization of life-saving vaccines. The group is a supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and has a portfolio of travel vaccines. The vast majority of the company's revenue is generated in the United States, Germany, and other geographic markets. Its products include Encepur, Jynneos, Rabipur, Vaxchora, VIMKUNYA and Vivotif.
84GF Score
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