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Fuel TechFTEK -1.29%66 3-Year ROIIC % is 98.49 as of Dec. 2025, which is 850% above its 10-year median of 10.37. GuruFocus rates FTEK with a GF Score™ of 66/100 and a GF Value™ of $1.13 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,933 Industrial Products companies, Fuel Tech ranks better than 92.98% 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.
Fuel Tech's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 98.49%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Fuel Tech's 3-Year ROIIC % or its related term are showing as below:
FTEK's 3-Year ROIIC % is ranked better than 92.98% of 2933
companies
in the Industrial Products industry
Industry Median: 3.45
vs FTEK: 98.49
Fuel Tech (NAS:FTEK) 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.
Fuel Tech 3-Year ROIIC % Related Terms
Fuel Tech 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Fuel Tech'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.
FTEK vs BCHT, SCWO, ARQ: 3-Year ROIIC % Comparison
For the Pollution & Treatment Controls subindustry, Fuel Tech'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.
Fuel Tech 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Fuel Tech's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Fuel Tech's 3-Year ROIIC % falls into.
Fuel Tech'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**
=
( -3.681 (Dec. 2025) - -1.527 (Dec. 2022) )
/
( 18.698 (Dec. 2025) - 20.885 (Dec. 2022) )
=
-2.154
/
-2.187
=
98.49%***
* 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.
Fuel Tech (FTEK) has a 3-Year ROIIC % of 98.49 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 Fuel Tech and its competitors. This is 850% above median its historical median of 10.37. According to the industry distribution chart, Fuel Tech ranks #206 out of 2933 companies in the Industrial Products industry, placing it in the top 7%.
Is Fuel Tech's 3-Year ROIIC % too high?
Fuel Tech's current 3-Year ROIIC % of 98.49 is 850% above median its 10-year median of 10.37. The Industrial Products industry median 3-Year ROIIC % is 3.45. Fuel Tech's value of 98.49 is 2754.8% above this industry median. Based on the distribution chart, Fuel Tech ranks #206 out of 2933 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Fuel Tech has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fuel Tech's 3-Year ROIIC % compare to BCHT and SCWO?
According to the Industrial Products industry distribution chart, Fuel Tech ranks #206 out of 2933 companies for 3-Year ROIIC %. This places Fuel Tech in the top 7% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.45. Fuel Tech's value of 98.49 is 2754.8% above this benchmark. While the company's 10-year median is 10.37 vs. the industry median of 3.45, Fuel Tech 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 Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.45, based on 2,933 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. Fuel Tech's current 3-Year ROIIC % of 98.49 is 2754.8% 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 Fuel Tech and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fuel Tech's current 3-Year ROIIC % is 98.49, which is 850% above median its own 10-year median of 10.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuel Tech stock overvalued right now?
Based on GuruFocus' analysis, Fuel Tech (FTEK) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.13, compared to a current price of $1.52 — trading 34.5% above its estimated fair value. The current 3-Year ROIIC % is 98.49, which is 850% above median its 10-year median of 10.37 and 2754.8% above the Industrial Products industry median of 3.45. Fuel Tech's overall GF Score™ is 66/100 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 Fuel Tech (FTEK), the current 3-Year ROIIC % is 98.49 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 Fuel Tech (FTEK) Overvalued in 2026?
Based on GuruFocus' analysis, Fuel Tech stock appears to be overvalued.
The current stock price of $1.52 is trading 34.5% above its estimated GF Value™ of $1.13.
GuruFocus considers Fuel Tech to be Significantly Overvalued.
Key valuation signals for FTEK:
3-Year ROIIC %: 98.49 (850% above median its 10-year median of 10.37)
GF Value™: $1.13 vs. price of $1.52 (34.5% above fair value)
Industry Position: 2754.8% above the Industrial Products median (#206 of 2933)
No single metric tells the full story. See the FTEK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fuel Tech Inc is a technology provider of boiler optimization, efficiency improvement, and air pollution reduction to utility and industrial customers. The company operates in two segments, Air Pollution Control and Fuel Chem. The Air Pollution Control technology segment includes technologies to reduce NOx emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources. The Fuel Chem technology segment uses chemical processes in combination with Computational Fluid Dynamics and Chemical Kinetics Modeling for boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace using TIFI Targeted In-Furnace Injection technology.
66GF Score
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3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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