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Emerald HoldingFRA:EM7 56 3-Year ROIIC % is 6.50 as of Dec. 2025, which is 60% below its 10-year median of 16.06. GuruFocus rates FRA:EM7 with a GF Score™ of 56/100 and a GF Value™ of €2.22 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 951 Media - Diversified companies, Emerald Holding ranks better than 59.94% 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.
Emerald Holding's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 6.50%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Emerald Holding's 3-Year ROIIC % or its related term are showing as below:
FRA:EM7's 3-Year ROIIC % is ranked better than 59.94% of 951
companies
in the Media - Diversified industry
Industry Median: 1.36
vs FRA:EM7: 6.50
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.
Emerald Holding 3-Year ROIIC % Related Terms
Emerald Holding 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Emerald Holding'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:EM7 vs CRTO, EVC, QNST: 3-Year ROIIC % Comparison
For the Advertising Agencies subindustry, Emerald Holding'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.
Emerald Holding 3-Year ROIIC % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Emerald Holding's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Emerald Holding's 3-Year ROIIC % falls into.
Emerald Holding'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**
=
( 19.215 (Dec. 2025) - 3.8294028 (Dec. 2022) )
/
( 1058.192 (Dec. 2025) - 901.993 (Dec. 2022) )
=
15.3855972
/
156.199
=
9.85%***
* 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.
Emerald Holding (FRA:EM7) has a 3-Year ROIIC % of 6.50 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 Emerald Holding and its competitors. This is 60% below median its historical median of 16.06. Over the past decade, Emerald Holding's 3-Year ROIIC % has ranged from 6.50 to 729.51. According to the industry distribution chart, Emerald Holding ranks #381 out of 951 companies in the Media - Diversified industry, placing it in the top 40.1%.
Is Emerald Holding's 3-Year ROIIC % too high?
Emerald Holding's current 3-Year ROIIC % of 6.50 is 60% below median its 10-year median of 16.06. Over the past 10 years, this metric has ranged from a low of 6.50 to a high of 729.51. The Media - Diversified industry median 3-Year ROIIC % is 1.36. Emerald Holding's value of 6.50 is 377.9% above this industry median. Based on the distribution chart, Emerald Holding ranks #381 out of 951 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, Emerald Holding has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Emerald Holding's 3-Year ROIIC % compare to CRTO and EVC?
According to the Media - Diversified industry distribution chart, Emerald Holding ranks #381 out of 951 companies for 3-Year ROIIC %. This puts Emerald Holding in the upper half of its industry. The industry median 3-Year ROIIC % is 1.36. Emerald Holding's value of 6.50 is 377.9% above this benchmark. Historically, Emerald Holding's own 3-Year ROIIC % has ranged from 6.50 to 729.51 over the past decade. While the company's 10-year median is 16.06 vs. the industry median of 1.36, Emerald Holding 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 Media - Diversified company?
The median 3-Year ROIIC % among Media - Diversified companies is 1.36, based on 951 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. Emerald Holding's current 3-Year ROIIC % of 6.50 is 377.9% 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 Emerald Holding and its competitors. For the Media - Diversified industry, the median 3-Year ROIIC % is 1.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emerald Holding's current 3-Year ROIIC % is 6.50, which is 60% below median its own 10-year median of 16.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emerald Holding stock overvalued right now?
Based on GuruFocus' analysis, Emerald Holding (FRA:EM7) is currently considered Significantly Overvalued. The stock's GF Value™ is €2.22, compared to a current price of €4.38 — trading 97.3% above its estimated fair value. The current 3-Year ROIIC % is 6.50, which is 60% below median its 10-year median of 16.06 and 377.9% above the Media - Diversified industry median of 1.36. Emerald Holding's overall GF Score™ is 56/100 with 6 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 Emerald Holding (FRA:EM7), the current 3-Year ROIIC % is 6.50 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 Emerald Holding (FRA:EM7) Overvalued in 2026?
Based on GuruFocus' analysis, Emerald Holding stock appears to be overvalued.
The current stock price of €4.38 is trading 97.3% above its estimated GF Value™ of €2.22.
GuruFocus considers Emerald Holding to be Significantly Overvalued.
Key valuation signals for FRA:EM7:
3-Year ROIIC %: 6.50 (60% below median its 10-year median of 16.06)
GF Value™: €2.22 vs. price of €4.38 (97.3% above fair value)
Industry Position: 377.9% above the Media - Diversified median (#381 of 951)
No single metric tells the full story. See the FRA:EM7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Emerald Holding Inc is a business-to-business (B2B) event organizer principally in the United States, with operations in the United Kingdom (U.K.), France, and other markets. The company is engaged in three complementary business lines: Connections division consists of a collection of B2B trade show franchises and other live events that provide exhibitors opportunities to engage with buyers and expand their brand's awareness in their industry; the Content division consists of B2B print publications and digital media products that complement existing trade show properties, and the Commerce division provides B2B e-commerce and digital merchandising solutions to manufacturers and retailers. Emerald's key revenue is derived from the Connections business, its only reportable segment.
56GF Score
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