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LightAir ABNGM:LAIR +5.80%35 3-Year ROIIC % is -288.39 as of Dec. 2025. GuruFocus rates NGM:LAIR with a GF Score™ of 35/100 and a GF Value™ of kr0.28 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,933 Industrial Products companies, LightAir AB ranks worse than 97.31% 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.
LightAir AB's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -288.39%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for LightAir AB's 3-Year ROIIC % or its related term are showing as below:
NGM:LAIR's 3-Year ROIIC % is ranked worse than 97.31% of 2933
companies
in the Industrial Products industry
Industry Median: 3.4
vs NGM:LAIR: -288.39
LightAir AB (NGM:LAIR) 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.
LightAir AB 3-Year ROIIC % Related Terms
LightAir AB 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for LightAir AB'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.
NGM:LAIR vs VLTO, ZWS, CECO: 3-Year ROIIC % Comparison
For the Pollution & Treatment Controls subindustry, LightAir AB'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.
LightAir AB 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, LightAir AB's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where LightAir AB's 3-Year ROIIC % falls into.
LightAir AB'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**
=
( -7.465 (Dec. 2025) - -47.741 (Dec. 2022) )
/
( 18.958 (Dec. 2025) - 32.924 (Dec. 2022) )
=
40.276
/
-13.966
=
-288.39%***
* 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.
LightAir AB (NGM:LAIR) has a 3-Year ROIIC % of -288.39 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 LightAir AB and its competitors. According to the industry distribution chart, LightAir AB ranks #2854 out of 2933 companies in the Industrial Products industry, placing it in the top 97.3%.
Is LightAir AB's 3-Year ROIIC % too high?
LightAir AB's current 3-Year ROIIC % is -288.39. Based on the distribution chart, LightAir AB ranks #2854 out of 2933 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, LightAir AB has a GF Score™ of 35/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does LightAir AB's 3-Year ROIIC % compare to VLTO and ZWS?
According to the Industrial Products industry distribution chart, LightAir AB ranks #2854 out of 2933 companies for 3-Year ROIIC %. This places LightAir AB in the lower half of its industry. The industry median 3-Year ROIIC % is 3.40. 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 Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.40, based on 2,933 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. 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 LightAir AB and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LightAir AB's current 3-Year ROIIC % is -288.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LightAir AB stock overvalued right now?
Based on GuruFocus' analysis, LightAir AB (NGM:LAIR) is currently considered Significantly Overvalued. The stock's GF Value™ is kr0.28, compared to a current price of kr0.73 — trading 160.7% above its estimated fair value. The current 3-Year ROIIC % is -288.39. LightAir AB's overall GF Score™ is 35/100 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 LightAir AB (NGM:LAIR), the current 3-Year ROIIC % is -288.39 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 LightAir AB (NGM:LAIR) Overvalued in 2026?
Based on GuruFocus' analysis, LightAir AB stock appears to be overvalued.
The current stock price of kr0.73 is trading 160.7% above its estimated GF Value™ of kr0.28.
GuruFocus considers LightAir AB to be Significantly Overvalued.
Key valuation signals for NGM:LAIR:
3-Year ROIIC %: -288.39
GF Value™: kr0.28 vs. price of kr0.73 (160.7% above fair value)
No single metric tells the full story. See the NGM:LAIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LightAir AB is engaged in manufacturing and selling of air purifiers used for different industrial purposes such as traffic pollution, pet allergen, industrial pollution, smoke, and others. Its Air purifiers products include IonFlow Signature, IonFlow Evolution, IonFlow Style, IonFlow Surface, and others. The company distributes its products in Europe, Asia, and North America.
35GF Score
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