Dolphin Drilling ASFRA:5DP 44 3-Year ROIIC % is 72.66 as of Dec. 2025, which is 1330% above its 10-year median of 5.08. GuruFocus rates FRA:5DP with a GF Score™ of 44/100 and a GF Value™ of €0.36 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 923 Oil & Gas companies, Dolphin Drilling AS ranks better than 88.84% 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.
Dolphin Drilling AS's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 72.66%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Dolphin Drilling AS's 3-Year ROIIC % or its related term are showing as below:
FRA:5DP's 3-Year ROIIC % is ranked better than 88.84% of 923
companies
in the Oil & Gas industry
Industry Median: 0.01
vs FRA:5DP: 72.66
Dolphin Drilling AS (FRA:5DP) 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.
Dolphin Drilling AS 3-Year ROIIC % Related Terms
Dolphin Drilling AS 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Dolphin Drilling 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.
FRA:5DP vs NE, RIG, VAL: 3-Year ROIIC % Comparison
For the Oil & Gas Drilling subindustry, Dolphin Drilling 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.
Dolphin Drilling AS 3-Year ROIIC % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Dolphin Drilling AS's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Dolphin Drilling AS's 3-Year ROIIC % falls into.
Dolphin Drilling 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**
=
( -11.216 (Dec. 2025) - -58.995 (Dec. 2022) )
/
( 136.753 (Dec. 2025) - 90.901 (Dec. 2022) )
=
47.779
/
45.852
=
104.20%***
* 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.
Dolphin Drilling AS (FRA:5DP) has a 3-Year ROIIC % of 72.66 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 Dolphin Drilling AS and its competitors. This is 1330% above median its historical median of 5.08. According to the industry distribution chart, Dolphin Drilling AS ranks #103 out of 923 companies in the Oil & Gas industry, placing it in the top 11.2%.
Is Dolphin Drilling AS's 3-Year ROIIC % too high?
Dolphin Drilling AS's current 3-Year ROIIC % of 72.66 is 1330% above median its 10-year median of 5.08. The Oil & Gas industry median 3-Year ROIIC % is 0.01. Dolphin Drilling AS's value of 72.66 is 726500% above this industry median. Based on the distribution chart, Dolphin Drilling AS ranks #103 out of 923 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Dolphin Drilling AS has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Dolphin Drilling AS's 3-Year ROIIC % compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Dolphin Drilling AS ranks #103 out of 923 companies for 3-Year ROIIC %. This places Dolphin Drilling AS in the top 11% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 0.01. Dolphin Drilling AS's value of 72.66 is 726500% above this benchmark. While the company's 10-year median is 5.08 vs. the industry median of 0.01, Dolphin Drilling 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 an Oil & Gas company?
The median 3-Year ROIIC % among Oil & Gas companies is 0.01, based on 923 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. Dolphin Drilling AS's current 3-Year ROIIC % of 72.66 is 726500% 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 Dolphin Drilling AS and its competitors. For the Oil & Gas industry, the median 3-Year ROIIC % is 0.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dolphin Drilling AS's current 3-Year ROIIC % is 72.66, which is 1330% above median its own 10-year median of 5.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dolphin Drilling AS stock overvalued right now?
Based on GuruFocus' analysis, Dolphin Drilling AS (FRA:5DP) is currently considered Possible Value Trap. The stock's GF Value™ is €0.36, compared to a current price of €0.23 — trading 37.5% below its estimated fair value. The current 3-Year ROIIC % is 72.66, which is 1330% above median its 10-year median of 5.08 and 726500% above the Oil & Gas industry median of 0.01. Dolphin Drilling AS's overall GF Score™ is 44/100 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 Dolphin Drilling AS (FRA:5DP), the current 3-Year ROIIC % is 72.66 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 Dolphin Drilling AS (FRA:5DP) Overvalued in 2026?
Based on GuruFocus' analysis, Dolphin Drilling AS stock appears to be undervalued.
The current stock price of €0.23 is trading 37.5% below its estimated GF Value™ of €0.36.
GuruFocus considers Dolphin Drilling AS to be Possible Value Trap.
Key valuation signals for FRA:5DP:
3-Year ROIIC %: 72.66 (1330% above median its 10-year median of 5.08)
GF Value™: €0.36 vs. price of €0.23 (37.5% below fair value)
Industry Position: 726500% above the Oil & Gas median (#103 of 923)
No single metric tells the full story. See the FRA:5DP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dolphin Drilling AS is organised into one segment; drilling services to the offshore oil and gas offshore industry. The company has presence in United Kingdom, India, Nigeria, Norway, and Others. The company generates majority of revenue from India.
44GF Score
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