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Reliance IndustriesLUX:RELIN 92 3-Year ROIIC % is 2.70 as of Mar. 2026, which is 48% below its 10-year median of 5.17. GuruFocus rates LUX:RELIN with a GF Score™ of 92/100 and a GF Value™ of $92.69. The stock has 2 warning signs investors should review. Among 924 Oil & Gas companies, Reliance Industries ranks better than 57.14% 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.
Reliance Industries's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 2.70%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Reliance Industries's 3-Year ROIIC % or its related term are showing as below:
LUX:RELIN's 3-Year ROIIC % is ranked better than 57.14% of 924
companies
in the Oil & Gas industry
Industry Median: -0.005
vs LUX:RELIN: 2.70
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.
Reliance Industries 3-Year ROIIC % Related Terms
Reliance Industries 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Reliance Industries'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.
LUX:RELIN vs VLO, MPC, PSX: 3-Year ROIIC % Comparison
For the Oil & Gas Refining & Marketing subindustry, Reliance Industries'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.
Reliance Industries 3-Year ROIIC % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Reliance Industries's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Reliance Industries'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.
Reliance Industries (LUX:RELIN) has a 3-Year ROIIC % of 2.70 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Reliance Industries and its competitors. This is 48% below median its historical median of 5.17. Over the past decade, Reliance Industries' 3-Year ROIIC % has ranged from 2.47 to 13.16. According to the industry distribution chart, Reliance Industries ranks #396 out of 924 companies in the Oil & Gas industry, placing it in the top 42.9%.
Is Reliance Industries' 3-Year ROIIC % too high?
Reliance Industries' current 3-Year ROIIC % of 2.70 is 48% below median its 10-year median of 5.17. Over the past 10 years, this metric has ranged from a low of 2.47 to a high of 13.16. Based on the distribution chart, Reliance Industries ranks #396 out of 924 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Reliance Industries has a GF Score™ of 92/100, reflecting its overall financial health beyond just this single metric.
How does Reliance Industries' 3-Year ROIIC % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Reliance Industries ranks #396 out of 924 companies for 3-Year ROIIC %. This puts Reliance Industries in the upper half of its industry. Historically, Reliance Industries' own 3-Year ROIIC % has ranged from 2.47 to 13.16 over the past decade. 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 Oil & Gas company?
A good 3-Year ROIIC % depends on the Oil & Gas 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 Reliance Industries and its competitors. Reliance Industries's current 3-Year ROIIC % is 2.70, which is 48% below median its own 10-year median of 5.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reliance Industries stock overvalued right now?
Reliance Industries (LUX:RELIN) has a current 3-Year ROIIC % of 2.70. The stock's GF Value™ is $92.69, compared to a current price of $76.40 — trading 17.6% below its estimated fair value. The current 3-Year ROIIC % is 2.70, which is 48% below median its 10-year median of 5.17. Reliance Industries' overall GF Score™ is 92/100 with 2 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 Reliance Industries (LUX:RELIN), the current 3-Year ROIIC % is 2.70 as of Mar. 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 Reliance Industries (LUX:RELIN) Overvalued in 2026?
Based on GuruFocus' analysis, Reliance Industries stock appears to be undervalued.
The current stock price of $76.40 is trading 17.6% below its estimated GF Value™ of $92.69.
Key valuation signals for LUX:RELIN:
3-Year ROIIC %: 2.70 (48% below median its 10-year median of 5.17)
GF Value™: $92.69 vs. price of $76.40 (17.6% below fair value)
No single metric tells the full story. See the LUX:RELIN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The company has five principal operating and reporting segments: Oil to Chemicals (O2C), Oil and Gas, Retail, Digital Services, and other services. Reliance's refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment, which derives the majority of revenue, includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.
92GF Score
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