Spar GroupJSE:SPP +2.90%52 3-Year ROIIC % is 5.88 as of Sep. 2025, which is 85% above its 10-year median of 3.18. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.98 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 295 Retail - Defensive companies, Spar Group ranks worse than 51.53% 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.
Spar Group's 3-Year ROIIC % for the quarter that ended in Sep. 2025 was 5.88%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Spar Group's 3-Year ROIIC % or its related term are showing as below:
JSE:SPP's 3-Year ROIIC % is ranked worse than 51.53% of 295
companies
in the Retail - Defensive industry
Industry Median: 6.07
vs JSE:SPP: 5.88
Spar Group (JSE:SPP) 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.
Spar Group 3-Year ROIIC % Related Terms
Spar Group 3-Year ROIIC % Historical Data
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The historical data trend for Spar Group'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:SPP vs SYY, USFD, PFGC: 3-Year ROIIC % Comparison
For the Food Distribution subindustry, Spar Group'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.
Spar Group 3-Year ROIIC % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Spar Group's 3-Year ROIIC % falls into.
* 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.
Spar Group (JSE:SPP) has a 3-Year ROIIC % of 5.88 as of Sep. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Spar Group and its competitors. This is 85% above median its historical median of 3.18. According to the industry distribution chart, Spar Group ranks #152 out of 295 companies in the Retail - Defensive industry, placing it in the top 51.5%.
Is Spar Group's 3-Year ROIIC % too high?
Spar Group's current 3-Year ROIIC % of 5.88 is 85% above median its 10-year median of 3.18. The Retail - Defensive industry median 3-Year ROIIC % is 6.07. Spar Group's value of 5.88 is 3.1% below this industry median. Based on the distribution chart, Spar Group ranks #152 out of 295 companies in the Retail - Defensive industry, which is below the industry midpoint. Overall, Spar Group has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spar Group's 3-Year ROIIC % compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #152 out of 295 companies for 3-Year ROIIC %. This places Spar Group in the lower half of its industry. The industry median 3-Year ROIIC % is 6.07. Spar Group's value of 5.88 is 3.1% below this benchmark. While the company's 10-year median is 3.18 vs. the industry median of 6.07, Spar Group has consistently been below 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 Retail - Defensive company?
The median 3-Year ROIIC % among Retail - Defensive companies is 6.07, based on 295 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. Spar Group's current 3-Year ROIIC % of 5.88 is 3.1% below 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 Spar Group and its competitors. For the Retail - Defensive industry, the median 3-Year ROIIC % is 6.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current 3-Year ROIIC % is 5.88, which is 85% above median its own 10-year median of 3.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spar Group stock overvalued right now?
Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.98, compared to a current price of R47.18 — trading 56.3% below its estimated fair value. The current 3-Year ROIIC % is 5.88, which is 85% above median its 10-year median of 3.18 and 3.1% below the Retail - Defensive industry median of 6.07. Spar Group's overall GF Score™ is 52/100 with 3 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 Spar Group (JSE:SPP), the current 3-Year ROIIC % is 5.88 as of Sep. 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R47.18 is trading 56.3% below its estimated GF Value™ of R107.98.
GuruFocus considers Spar Group to be Significantly Undervalued.
Key valuation signals for JSE:SPP:
3-Year ROIIC %: 5.88 (85% above median its 10-year median of 3.18)
GF Value™: R107.98 vs. price of R47.18 (56.3% below fair value)
Industry Position: 3.1% below the Retail - Defensive median (#152 of 295)
No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.
52GF Score
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