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Delta Property FundJSE:DLT -2.50%18 3-Year ROIIC % is 19.05 as of Feb. 2026, which is 201% above its 10-year median of 6.32. GuruFocus rates JSE:DLT with a GF Score™ of 18/100 and a GF Value™ of R0.23 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 691 REITs companies, Delta Property Fund ranks better than 89.58% 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.
Delta Property Fund's 3-Year ROIIC % for the quarter that ended in Feb. 2026 was 19.05%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Delta Property Fund's 3-Year ROIIC % or its related term are showing as below:
JSE:DLT's 3-Year ROIIC % is ranked better than 89.58% of 691
companies
in the REITs industry
Industry Median: 3.63
vs JSE:DLT: 19.05
Delta Property Fund (JSE:DLT) 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.
Delta Property Fund 3-Year ROIIC % Related Terms
Delta Property Fund 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Delta Property Fund'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.
JSE:DLT vs BXP, ARE, VNO: 3-Year ROIIC % Comparison
For the REIT - Office subindustry, Delta Property Fund'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.
Delta Property Fund 3-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, Delta Property Fund's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Delta Property Fund's 3-Year ROIIC % falls into.
Delta Property Fund's 3-Year ROIIC % for the quarter that ended in Feb. 2026 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 431.151255 (Feb. 2026) - 565.307 (Feb. 2023) )
/
( 8902.058 (Feb. 2026) - 9606.462 (Feb. 2023) )
=
-134.155745
/
-704.404
=
19.05%***
* 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.
Delta Property Fund (JSE:DLT) has a 3-Year ROIIC % of 19.05 as of Feb. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Delta Property Fund and its competitors. This is 201% above median its historical median of 6.32. According to the industry distribution chart, Delta Property Fund ranks #72 out of 691 companies in the REITs industry, placing it in the top 10.4%.
Is Delta Property Fund's 3-Year ROIIC % too high?
Delta Property Fund's current 3-Year ROIIC % of 19.05 is 201% above median its 10-year median of 6.32. The REITs industry median 3-Year ROIIC % is 3.63. Delta Property Fund's value of 19.05 is 424.8% above this industry median. Based on the distribution chart, Delta Property Fund ranks #72 out of 691 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Delta Property Fund has a GF Score™ of 18/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Delta Property Fund's 3-Year ROIIC % compare to BXP and ARE?
According to the REITs industry distribution chart, Delta Property Fund ranks #72 out of 691 companies for 3-Year ROIIC %. This places Delta Property Fund in the top 10% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 3.63. Delta Property Fund's value of 19.05 is 424.8% above this benchmark. While the company's 10-year median is 6.32 vs. the industry median of 3.63, Delta Property Fund 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 3.63, based on 691 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. Delta Property Fund's current 3-Year ROIIC % of 19.05 is 424.8% 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 Delta Property Fund and its competitors. For the REITs industry, the median 3-Year ROIIC % is 3.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Delta Property Fund's current 3-Year ROIIC % is 19.05, which is 201% above median its own 10-year median of 6.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Delta Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Delta Property Fund (JSE:DLT) is currently considered Significantly Overvalued. The stock's GF Value™ is R0.23, compared to a current price of R0.39 — trading 69.6% above its estimated fair value. The current 3-Year ROIIC % is 19.05, which is 201% above median its 10-year median of 6.32 and 424.8% above the REITs industry median of 3.63. Delta Property Fund's overall GF Score™ is 18/100 with 5 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 Delta Property Fund (JSE:DLT), the current 3-Year ROIIC % is 19.05 as of Feb. 2026. 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 Delta Property Fund (JSE:DLT) Overvalued in 2026?
Based on GuruFocus' analysis, Delta Property Fund stock appears to be overvalued.
The current stock price of R0.39 is trading 69.6% above its estimated GF Value™ of R0.23.
GuruFocus considers Delta Property Fund to be Significantly Overvalued.
Key valuation signals for JSE:DLT:
3-Year ROIIC %: 19.05 (201% above median its 10-year median of 6.32)
GF Value™: R0.23 vs. price of R0.39 (69.6% above fair value)
Industry Position: 424.8% above the REITs median (#72 of 691)
No single metric tells the full story. See the JSE:DLT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Delta Property Fund Ltd engages in making long-term investments in rental-generating properties. The company comprises three segments, namely, Office-Sovereign, Office-Other, and Head Office. The firm generates its revenue mainly from the Office Sovereign segment. The portfolio of the company consists of large assets, single tenanted by the national government, provincial government, state-owned enterprises, and large blue-chip corporations under long leases.
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