Circle SpAMIL:CIRC -2.49%83 3-Year ROIIC % is 9.59 as of Dec. 2025, which is 18% below its 10-year median of 11.65. GuruFocus rates MIL:CIRC with a GF Score™ of 83/100 and a GF Value™ of €12.24 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 2,627 Software companies, Circle SpA ranks better than 56.99% 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.
Circle SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 9.59%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Circle SpA's 3-Year ROIIC % or its related term are showing as below:
MIL:CIRC's 3-Year ROIIC % is ranked better than 56.99% of 2627
companies
in the Software industry
Industry Median: 5.33
vs MIL:CIRC: 9.59
Circle SpA (MIL:CIRC) 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.
Circle SpA 3-Year ROIIC % Related Terms
Circle SpA 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Circle SpA'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.
MIL:CIRC vs IBM, ACN, FISV: 3-Year ROIIC % Comparison
For the Information Technology Services subindustry, Circle SpA'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.
Circle SpA 3-Year ROIIC % vs Software Industry
For the Software industry and Technology sector, Circle SpA's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Circle SpA's 3-Year ROIIC % falls into.
Circle SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 2.3831344 (Dec. 2025) - 0.914038 (Dec. 2022) )
/
( 23.501 (Dec. 2025) - 8.185 (Dec. 2022) )
=
1.4690964
/
15.316
=
9.59%***
* 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.
Circle SpA (MIL:CIRC) has a 3-Year ROIIC % of 9.59 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Circle SpA and its competitors. This is 18% below median its historical median of 11.65. According to the industry distribution chart, Circle SpA ranks #1130 out of 2627 companies in the Software industry, placing it in the top 43%.
Is Circle SpA's 3-Year ROIIC % too high?
Circle SpA's current 3-Year ROIIC % of 9.59 is 18% below median its 10-year median of 11.65. The Software industry median 3-Year ROIIC % is 5.33. Circle SpA's value of 9.59 is 79.9% above this industry median. Based on the distribution chart, Circle SpA ranks #1130 out of 2627 companies in the Software industry, which is above the industry midpoint. Overall, Circle SpA has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Circle SpA's 3-Year ROIIC % compare to IBM and ACN?
According to the Software industry distribution chart, Circle SpA ranks #1130 out of 2627 companies for 3-Year ROIIC %. This puts Circle SpA in the upper half of its industry. The industry median 3-Year ROIIC % is 5.33. Circle SpA's value of 9.59 is 79.9% above this benchmark. While the company's 10-year median is 11.65 vs. the industry median of 5.33, Circle SpA 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 Software company?
The median 3-Year ROIIC % among Software companies is 5.33, based on 2,627 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. Circle SpA's current 3-Year ROIIC % of 9.59 is 79.9% 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 Circle SpA and its competitors. For the Software industry, the median 3-Year ROIIC % is 5.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Circle SpA's current 3-Year ROIIC % is 9.59, which is 18% below median its own 10-year median of 11.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Circle SpA stock overvalued right now?
Based on GuruFocus' analysis, Circle SpA (MIL:CIRC) is currently considered Modestly Overvalued. The stock's GF Value™ is €12.24, compared to a current price of €13.70 — trading 11.9% above its estimated fair value. The current 3-Year ROIIC % is 9.59, which is 18% below median its 10-year median of 11.65 and 79.9% above the Software industry median of 5.33. Circle SpA's overall GF Score™ is 83/100 with 7 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 Circle SpA (MIL:CIRC), the current 3-Year ROIIC % is 9.59 as of Dec. 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 Circle SpA (MIL:CIRC) Overvalued in 2026?
Based on GuruFocus' analysis, Circle SpA stock appears to be overvalued.
The current stock price of €13.70 is trading 11.9% above its estimated GF Value™ of €12.24.
GuruFocus considers Circle SpA to be Modestly Overvalued.
Key valuation signals for MIL:CIRC:
3-Year ROIIC %: 9.59 (18% below median its 10-year median of 11.65)
GF Value™: €12.24 vs. price of €13.70 (11.9% above fair value)
Industry Position: 79.9% above the Software median (#1130 of 2627)
No single metric tells the full story. See the MIL:CIRC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Circle SpA is engaged in providing consulting services, technological solutions, and digital marketing services to companies operating predominantly in the logistics and transportation sectors. It provides strategic consulting services in the fields of port management, logistics, and transport, and also develops software solutions to optimize flow management and improve logistics processes. The company's service offerings in the digital marketing sector include; services for the analysis, identification, and use of multi-channel communication tools for the implementation of digital marketing strategies.
83GF Score
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