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Pandora ASCHIX:PNDORC 73 3-Year ROIIC % is 17.72 as of Dec. 2025, which is 23% below its 10-year median of 23.16. GuruFocus rates CHIX:PNDORC with a GF Score™ of 73/100 and a GF Value™ of kr1,205.34 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,057 Retail - Cyclical companies, Pandora AS ranks better than 69.44% 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.
Pandora AS's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 17.72%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Pandora AS's 3-Year ROIIC % or its related term are showing as below:
CHIX:PNDORc's 3-Year ROIIC % is ranked better than 69.44% of 1057
companies
in the Retail - Cyclical industry
Industry Median: 4.63
vs CHIX:PNDORc: 17.72
Pandora AS (CHIX:PNDORc) 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.
Pandora AS 3-Year ROIIC % Related Terms
Pandora AS 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Pandora 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:PNDORC vs TPR, SIG, CPRI: 3-Year ROIIC % Comparison
For the Luxury Goods subindustry, Pandora 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.
Pandora AS 3-Year ROIIC % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Pandora AS's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Pandora AS's 3-Year ROIIC % falls into.
Pandora 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**
=
( 5901.8489 (Dec. 2025) - 5190.7614 (Dec. 2022) )
/
( 23611 (Dec. 2025) - 19598 (Dec. 2022) )
=
711.0875
/
4013
=
17.72%***
* 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.
Pandora AS (CHIX:PNDORC) has a 3-Year ROIIC % of 17.72 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 Pandora AS and its competitors. This is 23% below median its historical median of 23.16. According to the industry distribution chart, Pandora AS ranks #323 out of 1057 companies in the Retail - Cyclical industry, placing it in the top 30.6%.
Is Pandora AS's 3-Year ROIIC % too high?
Pandora AS's current 3-Year ROIIC % of 17.72 is 23% below median its 10-year median of 23.16. The Retail - Cyclical industry median 3-Year ROIIC % is 4.63. Pandora AS's value of 17.72 is 282.7% above this industry median. Based on the distribution chart, Pandora AS ranks #323 out of 1057 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Pandora AS has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pandora AS's 3-Year ROIIC % compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, Pandora AS ranks #323 out of 1057 companies for 3-Year ROIIC %. This puts Pandora AS in the upper half of its industry. The industry median 3-Year ROIIC % is 4.63. Pandora AS's value of 17.72 is 282.7% above this benchmark. While the company's 10-year median is 23.16 vs. the industry median of 4.63, Pandora AS 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 Retail - Cyclical company?
The median 3-Year ROIIC % among Retail - Cyclical companies is 4.63, based on 1,057 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. Pandora AS's current 3-Year ROIIC % of 17.72 is 282.7% 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 Pandora AS and its competitors. For the Retail - Cyclical industry, the median 3-Year ROIIC % is 4.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pandora AS's current 3-Year ROIIC % is 17.72, which is 23% below median its own 10-year median of 23.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pandora AS stock overvalued right now?
Based on GuruFocus' analysis, Pandora AS (CHIX:PNDORC) is currently considered Significantly Undervalued. The stock's GF Value™ is kr1,205.34, compared to a current price of kr799.50 — trading 33.7% below its estimated fair value. The current 3-Year ROIIC % is 17.72, which is 23% below median its 10-year median of 23.16 and 282.7% above the Retail - Cyclical industry median of 4.63. Pandora AS's overall GF Score™ is 73/100 with 2 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 Pandora AS (CHIX:PNDORC), the current 3-Year ROIIC % is 17.72 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 Pandora AS (CHIX:PNDORC) Overvalued in 2026?
Based on GuruFocus' analysis, Pandora AS stock appears to be undervalued.
The current stock price of kr799.50 is trading 33.7% below its estimated GF Value™ of kr1,205.34.
GuruFocus considers Pandora AS to be Significantly Undervalued.
Key valuation signals for CHIX:PNDORC:
3-Year ROIIC %: 17.72 (23% below median its 10-year median of 23.16)
GF Value™: kr1,205.34 vs. price of kr799.50 (33.7% below fair value)
Industry Position: 282.7% above the Retail - Cyclical median (#323 of 1057)
No single metric tells the full story. See the CHIX:PNDORC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,700 concept stores globally (2,000 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for over 80% and wholesale for the remainder. Charms and bracelets account for almost three-fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.
73GF Score
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