Primary HydrogenHNATF +5.05%15 3-Year ROIIC % is -280.79 as of Nov. 2025. GuruFocus rates HNATF with a GF Score™ of 15/100. The stock has 1 warning sign investors should review. Among 2,301 Metals & Mining companies, Primary Hydrogen ranks worse than 91.53% 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.
Primary Hydrogen's 3-Year ROIIC % for the quarter that ended in Nov. 2025 was -280.79%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Primary Hydrogen's 3-Year ROIIC % or its related term are showing as below:
HNATF's 3-Year ROIIC % is ranked worse than 91.53% of 2301
companies
in the Metals & Mining industry
Industry Median: -2.5
vs HNATF: -280.79
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.
Primary Hydrogen 3-Year ROIIC % Related Terms
Primary Hydrogen 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Primary Hydrogen'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 Other Industrial Metals & Mining subindustry, Primary Hydrogen'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.
Primary Hydrogen 3-Year ROIIC % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Primary Hydrogen's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Primary Hydrogen's 3-Year ROIIC % falls into.
Primary Hydrogen's 3-Year ROIIC % for the quarter that ended in Nov. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -2.883 (Nov. 2025) - -0.175 (Nov. 2022) )
/
( 1.113 (Nov. 2025) - 0.153 (Nov. 2022) )
=
-2.708
/
0.96
=
-282.08%***
* 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.
Primary Hydrogen (HNATF) has a 3-Year ROIIC % of -280.79 as of Nov. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Primary Hydrogen and its competitors. According to the industry distribution chart, Primary Hydrogen ranks #2106 out of 2301 companies in the Metals & Mining industry, placing it in the top 91.5%.
Is Primary Hydrogen's 3-Year ROIIC % too high?
Primary Hydrogen's current 3-Year ROIIC % is -280.79. Based on the distribution chart, Primary Hydrogen ranks #2106 out of 2301 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Primary Hydrogen has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Primary Hydrogen's 3-Year ROIIC % compare to competitors?
According to the Metals & Mining industry distribution chart, Primary Hydrogen ranks #2106 out of 2301 companies for 3-Year ROIIC %. This places Primary Hydrogen in the lower half of its industry. 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 Metals & Mining company?
A good 3-Year ROIIC % depends on the Metals & Mining industry context. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Primary Hydrogen and its competitors. Primary Hydrogen's current 3-Year ROIIC % is -280.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primary Hydrogen stock overvalued right now?
Primary Hydrogen (HNATF) has a current 3-Year ROIIC % of -280.79. The current 3-Year ROIIC % is -280.79. Primary Hydrogen's overall GF Score™ is 15/100 with 1 warning sign 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 Primary Hydrogen (HNATF), the current 3-Year ROIIC % is -280.79 as of Nov. 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.
Primary Hydrogen Corp. is engaged in the acquisition, exploration, and development of natural hydrogen properties. The group has an extensive portfolio of properties covering over 210 square kilometres across Canada including the Blakelock and Hopkins projects in Ontario, the Point Rosie, Gaspe Ophiolite, Coquihalla, Cogburn, and Crooked Amphibolite. The Marys Harbour and Point Rosie properties are located in Southern Newfoundland and Labrador. The Coquihalla, Cogburn, and Crooked Amphibolite properties are located in Southern British Columbia. The Gaspe Ophiolite property is located in Southern Quebec.
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