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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.
National Gas CoOG's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 0.26%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for National Gas CoOG's 3-Year ROIIC % or its related term are showing as below:
MUS:NGCI's 3-Year ROIIC % is ranked worse than 63.39% of 478
companies
in the Utilities - Regulated industry
Industry Median: 3.845
vs MUS:NGCI: 0.26
National Gas CoOG (MUS:NGCI) 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.
National Gas CoOG 3-Year ROIIC % Related Terms
National Gas CoOG 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for National Gas CoOG'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.
MUS:NGCI vs ATO, NI, UGI: 3-Year ROIIC % Comparison
For the Utilities - Regulated Gas subindustry, National Gas CoOG'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.
National Gas CoOG 3-Year ROIIC % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Gas CoOG's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where National Gas CoOG's 3-Year ROIIC % falls into.
National Gas CoOG'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**
=
( 0.046 (Dec. 2025) - 0.056 (Dec. 2022) )
/
( 38.894 (Dec. 2025) - 42.8 (Dec. 2022) )
=
-0.01
/
-3.906
=
0.26%***
* 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.
National Gas CoOG (MUS:NGCI) has a 3-Year ROIIC % of 0.26 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 National Gas CoOG and its competitors. According to the industry distribution chart, National Gas CoOG ranks #303 out of 478 companies in the Utilities - Regulated industry, placing it in the top 63.4%.
Is National Gas CoOG's 3-Year ROIIC % too high?
National Gas CoOG's current 3-Year ROIIC % is 0.26. The Utilities - Regulated industry median 3-Year ROIIC % is 3.85. National Gas CoOG's value of 0.26 is 93.2% below this industry median. Based on the distribution chart, National Gas CoOG ranks #303 out of 478 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, National Gas CoOG has a GF Score™ of 30/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Gas CoOG's 3-Year ROIIC % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, National Gas CoOG ranks #303 out of 478 companies for 3-Year ROIIC %. This places National Gas CoOG in the lower half of its industry. The industry median 3-Year ROIIC % is 3.85. National Gas CoOG's value of 0.26 is 93.2% below this benchmark. 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 Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 3.85, based on 478 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. National Gas CoOG's current 3-Year ROIIC % of 0.26 is 93.2% 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 National Gas CoOG and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 3.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Gas CoOG's current 3-Year ROIIC % is 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Gas CoOG stock overvalued right now?
Based on GuruFocus' analysis, National Gas CoOG (MUS:NGCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.09, compared to a current price of ر.ع0.11 — trading 20% above its estimated fair value. The current 3-Year ROIIC % is 0.26 and 93.2% below the Utilities - Regulated industry median of 3.85. National Gas CoOG's overall GF Score™ is 30/100 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 National Gas CoOG (MUS:NGCI), the current 3-Year ROIIC % is 0.26 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 National Gas CoOG (MUS:NGCI) Overvalued in 2026?
Based on GuruFocus' analysis, National Gas CoOG stock appears to be overvalued.
The current stock price of ر.ع0.11 is trading 20% above its estimated GF Value™ of ر.ع0.09.
GuruFocus considers National Gas CoOG to be Modestly Overvalued.
Key valuation signals for MUS:NGCI:
3-Year ROIIC %: 0.26
GF Value™: ر.ع0.09 vs. price of ر.ع0.11 (20% above fair value)
Industry Position: 93.2% below the Utilities - Regulated median (#303 of 478)
No single metric tells the full story. See the MUS:NGCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Gas Co SAOG operates as a Liquefied Petroleum Gas filling plant. The company is engaged in the marketing, selling, and distribution of LPG. The group's only business segment is the marketing and selling of LPG. It operates a large fleet of tankers to lift bulk LPG from refineries in the Sultanate to its plants where it is bottled into cylinders in safe and controlled conditions. The company has different sizes of tankers to meet customer demand and reduce distribution costs. The company has different departments for project and design which takes care of design, engineering, procurement, installation, commissioning and testing of all projects and post-sale services.
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