Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Dipula PropertiesJSE:DIB +0.85%46 3-Year ROIIC % is 32.10 as of Aug. 2025, which is 487% above its 10-year median of 5.47. GuruFocus rates JSE:DIB with a GF Score™ of 46/100 and a GF Value™ of R3.18 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 693 REITs companies, Dipula Properties ranks better than 93.94% 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.
Dipula Properties's 3-Year ROIIC % for the quarter that ended in Aug. 2025 was 32.10%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Dipula Properties's 3-Year ROIIC % or its related term are showing as below:
JSE:DIB's 3-Year ROIIC % is ranked better than 93.94% of 693
companies
in the REITs industry
Industry Median: 3.52
vs JSE:DIB: 32.10
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.
Dipula Properties 3-Year ROIIC % Related Terms
Dipula Properties 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Dipula Properties'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 REIT - Retail subindustry, Dipula Properties'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.
Dipula Properties 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Dipula Properties's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Dipula Properties's 3-Year ROIIC % falls into.
Dipula Properties's 3-Year ROIIC % for the quarter that ended in Aug. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 858.808 (Aug. 2025) - 838.65 (Aug. 2022) )
/
( 11100.617 (Aug. 2025) - 11037.81 (Aug. 2022) )
=
20.158
/
62.806999999999
=
32.10%***
* 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.
Dipula Properties (JSE:DIB) has a 3-Year ROIIC % of 32.10 as of Aug. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Dipula Properties and its competitors. This is 487% above median its historical median of 5.47. According to the industry distribution chart, Dipula Properties ranks #42 out of 693 companies in the REITs industry, placing it in the top 6.1%.
Is Dipula Properties' 3-Year ROIIC % too high?
Dipula Properties' current 3-Year ROIIC % of 32.10 is 487% above median its 10-year median of 5.47. The REITs industry median 3-Year ROIIC % is 3.52. Dipula Properties' value of 32.10 is 811.9% above this industry median. Based on the distribution chart, Dipula Properties ranks #42 out of 693 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Dipula Properties has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dipula Properties' 3-Year ROIIC % compare to SPG and O?
According to the REITs industry distribution chart, Dipula Properties ranks #42 out of 693 companies for 3-Year ROIIC %. This places Dipula Properties in the top 6% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.52. Dipula Properties' value of 32.10 is 811.9% above this benchmark. While the company's 10-year median is 5.47 vs. the industry median of 3.52, Dipula Properties 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 REITs company?
The median 3-Year ROIIC % among REITs companies is 3.52, based on 693 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. Dipula Properties's current 3-Year ROIIC % of 32.10 is 811.9% 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 Dipula Properties and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dipula Properties's current 3-Year ROIIC % is 32.10, which is 487% above median its own 10-year median of 5.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dipula Properties stock overvalued right now?
Based on GuruFocus' analysis, Dipula Properties (JSE:DIB) is currently considered Significantly Overvalued. The stock's GF Value™ is R3.18, compared to a current price of R7.14 — trading 124.5% above its estimated fair value. The current 3-Year ROIIC % is 32.10, which is 487% above median its 10-year median of 5.47 and 811.9% above the REITs industry median of 3.52. Dipula Properties' overall GF Score™ is 46/100 with 10 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 Dipula Properties (JSE:DIB), the current 3-Year ROIIC % is 32.10 as of Aug. 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 Dipula Properties (JSE:DIB) Overvalued in 2026?
Based on GuruFocus' analysis, Dipula Properties stock appears to be overvalued.
The current stock price of R7.14 is trading 124.5% above its estimated GF Value™ of R3.18.
GuruFocus considers Dipula Properties to be Significantly Overvalued.
Key valuation signals for JSE:DIB:
3-Year ROIIC %: 32.10 (487% above median its 10-year median of 5.47)
GF Value™: R3.18 vs. price of R7.14 (124.5% above fair value)
Industry Position: 811.9% above the REITs median (#42 of 693)
No single metric tells the full story. See the JSE:DIB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dipula Properties Ltd is a South Africa-based real estate investment trust that owns a diversified property portfolio comprising defensive urban, township, and rural community retail centres. In addition to retail assets, the company also owns mid-sized industrial and logistics properties, office properties in urban areas, and affordable residential rental assets located in economically active regions across South Africa. The company's operating segments include Retail, Offices, Industrial, Land, Residential, and Corporate. The majority of its revenue is derived from the Retail segment, which represents income generated from its portfolio of shopping centres. The majority of its properties are located in Gauteng.
46GF Score
Get the complete analysis for JSE:DIB
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:DIB has been successfully added to your 
