Nova Eye MedicalELXMF -0.03%55 3-Year ROIIC % is 34.11 as of Jun. 2025, which is 605% above its 10-year median of 4.84. GuruFocus rates ELXMF with a GF Score™ of 55/100 and a GF Value™ of $0.02. The stock has 4 warning signs investors should review. Among 799 Medical Devices & Instruments companies, Nova Eye Medical ranks better than 78.6% 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.
Nova Eye Medical's 3-Year ROIIC % for the quarter that ended in Jun. 2025 was 34.11%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Nova Eye Medical's 3-Year ROIIC % or its related term are showing as below:
ELXMF's 3-Year ROIIC % is ranked better than 78.6% of 799
companies
in the Medical Devices & Instruments industry
Industry Median: 1.67
vs ELXMF: 34.11
Nova Eye Medical (OTCPK:ELXMF) 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.
Nova Eye Medical 3-Year ROIIC % Related Terms
Nova Eye Medical 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Nova Eye Medical'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 Medical Devices subindustry, Nova Eye Medical'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.
Nova Eye Medical 3-Year ROIIC % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Nova Eye Medical's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Nova Eye Medical's 3-Year ROIIC % falls into.
Nova Eye Medical's 3-Year ROIIC % for the quarter that ended in Jun. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -7.322 (Jun. 2025) - -6.1964256 (Jun. 2022) )
/
( 12.432 (Jun. 2025) - 18.425 (Jun. 2022) )
=
-1.1255744
/
-5.993
=
18.78%***
* 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.
Nova Eye Medical (ELXMF) has a 3-Year ROIIC % of 34.11 as of Jun. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Nova Eye Medical and its competitors. This is 605% above median its historical median of 4.84. According to the industry distribution chart, Nova Eye Medical ranks #171 out of 799 companies in the Medical Devices & Instruments industry, placing it in the top 21.4%.
Is Nova Eye Medical's 3-Year ROIIC % too high?
Nova Eye Medical's current 3-Year ROIIC % of 34.11 is 605% above median its 10-year median of 4.84. The Medical Devices & Instruments industry median 3-Year ROIIC % is 1.67. Nova Eye Medical's value of 34.11 is 1942.5% above this industry median. Based on the distribution chart, Nova Eye Medical ranks #171 out of 799 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Nova Eye Medical has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Nova Eye Medical's 3-Year ROIIC % compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Nova Eye Medical ranks #171 out of 799 companies for 3-Year ROIIC %. This places Nova Eye Medical in the top 21% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 1.67. Nova Eye Medical's value of 34.11 is 1942.5% above this benchmark. While the company's 10-year median is 4.84 vs. the industry median of 1.67, Nova Eye Medical 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 Medical Devices & Instruments company?
The median 3-Year ROIIC % among Medical Devices & Instruments companies is 1.67, based on 799 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. Nova Eye Medical's current 3-Year ROIIC % of 34.11 is 1942.5% 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 Nova Eye Medical and its competitors. For the Medical Devices & Instruments industry, the median 3-Year ROIIC % is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nova Eye Medical's current 3-Year ROIIC % is 34.11, which is 605% above median its own 10-year median of 4.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nova Eye Medical stock overvalued right now?
Nova Eye Medical (ELXMF) has a current 3-Year ROIIC % of 34.11. The stock's GF Value™ is $0.02, compared to a current price of $0.01 — trading 28.5% below its estimated fair value. The current 3-Year ROIIC % is 34.11, which is 605% above median its 10-year median of 4.84 and 1942.5% above the Medical Devices & Instruments industry median of 1.67. Nova Eye Medical's overall GF Score™ is 55/100 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 Nova Eye Medical (ELXMF), the current 3-Year ROIIC % is 34.11 as of Jun. 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 Nova Eye Medical (ELXMF) Overvalued in 2026?
Based on GuruFocus' analysis, Nova Eye Medical stock appears to be undervalued.
The current stock price of $0.01 is trading 28.5% below its estimated GF Value™ of $0.02.
Key valuation signals for ELXMF:
3-Year ROIIC %: 34.11 (605% above median its 10-year median of 4.84)
GF Value™: $0.02 vs. price of $0.01 (28.5% below fair value)
Industry Position: 1942.5% above the Medical Devices & Instruments median (#171 of 799)
No single metric tells the full story. See the ELXMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nova Eye Medical Ltd develops and sells surgical devices for the treatment of glaucoma, a cause of blindness. In addition, the company is involved in the commercialisation of the subthreshold nano-pulse ophthalmic laser, 2RT, for the treatment of retinal disease via the AlphaRET segment. The company's reportable segments are: Glaucoma Surgical Devices and AlphaRET. The majority of its revenue is generated from the Glaucoma Surgical Devices segment, which is involved in the design, manufacture, marketing, and sale of the iTrack, iTrack Advance, and the Molteno3 glaucoma surgical device. These are all single-use surgical devices. Geographically, the company generates maximum revenue from the United States of America, followed by Europe, the Asia Pacific, Other regions, and Australia.
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