Lechwerke AGHAM:LEC -0.75%57 3-Year ROIIC % is 23.59 as of Dec. 2025, which is 66% above its 10-year median of 14.19. GuruFocus rates HAM:LEC with a GF Score™ of 57/100 and a GF Value™ of €45.18 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 478 Utilities - Regulated companies, Lechwerke AG ranks better than 86.61% 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.
Lechwerke AG's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 23.59%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Lechwerke AG's 3-Year ROIIC % or its related term are showing as below:
HAM:LEC's 3-Year ROIIC % is ranked better than 86.61% of 478
companies
in the Utilities - Regulated industry
Industry Median: 3.99
vs HAM:LEC: 23.59
Lechwerke AG (HAM:LEC) 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.
Lechwerke AG 3-Year ROIIC % Related Terms
Lechwerke AG 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Lechwerke AG'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 Utilities - Diversified subindustry, Lechwerke AG'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.
Lechwerke AG 3-Year ROIIC % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Lechwerke AG's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Lechwerke AG's 3-Year ROIIC % falls into.
Lechwerke AG'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**
=
( 27.485598 (Dec. 2025) - 9.4535727 (Dec. 2022) )
/
( 1802.394 (Dec. 2025) - 1725.95 (Dec. 2022) )
=
18.0320253
/
76.444
=
23.59%***
* 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.
Lechwerke AG (HAM:LEC) has a 3-Year ROIIC % of 23.59 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 Lechwerke AG and its competitors. This is 66% above median its historical median of 14.19. According to the industry distribution chart, Lechwerke AG ranks #64 out of 478 companies in the Utilities - Regulated industry, placing it in the top 13.4%.
Is Lechwerke AG's 3-Year ROIIC % too high?
Lechwerke AG's current 3-Year ROIIC % of 23.59 is 66% above median its 10-year median of 14.19. The Utilities - Regulated industry median 3-Year ROIIC % is 3.99. Lechwerke AG's value of 23.59 is 491.2% above this industry median. Based on the distribution chart, Lechwerke AG ranks #64 out of 478 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Lechwerke AG has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lechwerke AG's 3-Year ROIIC % compare to SRE and AES?
According to the Utilities - Regulated industry distribution chart, Lechwerke AG ranks #64 out of 478 companies for 3-Year ROIIC %. This places Lechwerke AG in the top 13% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.99. Lechwerke AG's value of 23.59 is 491.2% above this benchmark. While the company's 10-year median is 14.19 vs. the industry median of 3.99, Lechwerke AG 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 Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 3.99, based on 478 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. Lechwerke AG's current 3-Year ROIIC % of 23.59 is 491.2% 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 Lechwerke AG and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lechwerke AG's current 3-Year ROIIC % is 23.59, which is 66% above median its own 10-year median of 14.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lechwerke AG stock overvalued right now?
Based on GuruFocus' analysis, Lechwerke AG (HAM:LEC) is currently considered Significantly Overvalued. The stock's GF Value™ is €45.18, compared to a current price of €66.00 — trading 46.1% above its estimated fair value. The current 3-Year ROIIC % is 23.59, which is 66% above median its 10-year median of 14.19 and 491.2% above the Utilities - Regulated industry median of 3.99. Lechwerke AG's overall GF Score™ is 57/100 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 Lechwerke AG (HAM:LEC), the current 3-Year ROIIC % is 23.59 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 Lechwerke AG (HAM:LEC) Overvalued in 2026?
Based on GuruFocus' analysis, Lechwerke AG stock appears to be overvalued.
The current stock price of €66.00 is trading 46.1% above its estimated GF Value™ of €45.18.
GuruFocus considers Lechwerke AG to be Significantly Overvalued.
Key valuation signals for HAM:LEC:
3-Year ROIIC %: 23.59 (66% above median its 10-year median of 14.19)
GF Value™: €45.18 vs. price of €66.00 (46.1% above fair value)
Industry Position: 491.2% above the Utilities - Regulated median (#64 of 478)
No single metric tells the full story. See the HAM:LEC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lechwerke AG is a regional energy supplier in Bavaria and parts of Baden-Wurttemberg. The company offers both electricity and gas products as well as all energy-related services such as contracting, energy certificates and energy controlling. The company also works in the field of street lighting as well as the development and implementation of energy efficiency projects and comprehensive energy concepts.
57GF Score
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