Note ABCHIX:NOTES 96 3-Year ROIIC % is 1.98 as of Dec. 2025, which is 88% below its 10-year median of 16.51. GuruFocus rates CHIX:NOTES with a GF Score™ of 96/100 and a GF Value™ of kr195.83 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 2,371 Hardware companies, Note AB ranks worse than 50.44% 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.
Note AB's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 1.98%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Note AB's 3-Year ROIIC % or its related term are showing as below:
CHIX:NOTEs's 3-Year ROIIC % is ranked worse than 50.44% of 2371
companies
in the Hardware industry
Industry Median: 2.35
vs CHIX:NOTEs: 1.98
Note AB (CHIX:NOTEs) 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.
Note AB 3-Year ROIIC % Related Terms
Note AB 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Note AB'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 Electronic Components subindustry, Note AB'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.
Note AB 3-Year ROIIC % vs Hardware Industry
For the Hardware industry and Technology sector, Note AB's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Note AB's 3-Year ROIIC % falls into.
* 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.
Note AB (CHIX:NOTES) has a 3-Year ROIIC % of 1.98 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 Note AB and its competitors. This is 88% below median its historical median of 16.51. Over the past decade, Note AB's 3-Year ROIIC % has ranged from 1.98 to 53.67. According to the industry distribution chart, Note AB ranks #1196 out of 2371 companies in the Hardware industry, placing it in the top 50.4%.
Is Note AB's 3-Year ROIIC % too high?
Note AB's current 3-Year ROIIC % of 1.98 is 88% below median its 10-year median of 16.51. Over the past 10 years, this metric has ranged from a low of 1.98 to a high of 53.67. The Hardware industry median 3-Year ROIIC % is 2.35. Note AB's value of 1.98 is 15.7% below this industry median. Based on the distribution chart, Note AB ranks #1196 out of 2371 companies in the Hardware industry, which is below the industry midpoint. Overall, Note AB has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Note AB's 3-Year ROIIC % compare to APH and GLW?
According to the Hardware industry distribution chart, Note AB ranks #1196 out of 2371 companies for 3-Year ROIIC %. This places Note AB in the lower half of its industry. The industry median 3-Year ROIIC % is 2.35. Note AB's value of 1.98 is 15.7% below this benchmark. Historically, Note AB's own 3-Year ROIIC % has ranged from 1.98 to 53.67 over the past decade. While the company's 10-year median is 16.51 vs. the industry median of 2.35, Note AB has consistently been below 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 Hardware company?
The median 3-Year ROIIC % among Hardware companies is 2.35, based on 2,371 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. Note AB's current 3-Year ROIIC % of 1.98 is 15.7% below 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 Note AB and its competitors. For the Hardware industry, the median 3-Year ROIIC % is 2.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Note AB's current 3-Year ROIIC % is 1.98, which is 88% below median its own 10-year median of 16.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Note AB stock overvalued right now?
Based on GuruFocus' analysis, Note AB (CHIX:NOTES) is currently considered Modestly Undervalued. The stock's GF Value™ is kr195.83, compared to a current price of kr161.45 — trading 17.6% below its estimated fair value. The current 3-Year ROIIC % is 1.98, which is 88% below median its 10-year median of 16.51 and 15.7% below the Hardware industry median of 2.35. Note AB's overall GF Score™ is 96/100 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 Note AB (CHIX:NOTES), the current 3-Year ROIIC % is 1.98 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 Note AB (CHIX:NOTES) Overvalued in 2026?
Based on GuruFocus' analysis, Note AB stock appears to be undervalued.
The current stock price of kr161.45 is trading 17.6% below its estimated GF Value™ of kr195.83.
GuruFocus considers Note AB to be Modestly Undervalued.
Key valuation signals for CHIX:NOTES:
3-Year ROIIC %: 1.98 (88% below median its 10-year median of 16.51)
GF Value™: kr195.83 vs. price of kr161.45 (17.6% below fair value)
Industry Position: 15.7% below the Hardware median (#1196 of 2371)
No single metric tells the full story. See the CHIX:NOTES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Note AB is a Swedish based EMS partner. engaged in manufacturing electronics-based products that require high technology competence and flexibility. Its business has four segments which are Industrial, Communication, Medtech and Greentech.
96GF Score
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