Adani Total GasNSE:ATGL +3.32%93 3-Year ROIIC % is 4.56 as of Mar. 2026, which is 41% below its 10-year median of 7.73. GuruFocus rates NSE:ATGL with a GF Score™ of 93/100 and a GF Value™ of ₹847.40 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 477 Utilities - Regulated companies, Adani Total Gas ranks better than 51.99% 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.
Adani Total Gas's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 4.56%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Adani Total Gas's 3-Year ROIIC % or its related term are showing as below:
NSE:ATGL's 3-Year ROIIC % is ranked better than 51.99% of 477
companies
in the Utilities - Regulated industry
Industry Median: 4.02
vs NSE:ATGL: 4.56
Adani Total Gas (NSE:ATGL) 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.
Adani Total Gas 3-Year ROIIC % Related Terms
Adani Total Gas 3-Year ROIIC % Historical Data
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The historical data trend for Adani Total Gas'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.
NSE:ATGL vs ATO, NI, UGI: 3-Year ROIIC % Comparison
For the Utilities - Regulated Gas subindustry, Adani Total Gas'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.
Adani Total Gas 3-Year ROIIC % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Adani Total Gas'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.
Adani Total Gas (NSE:ATGL) has a 3-Year ROIIC % of 4.56 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 Adani Total Gas and its competitors. This is 41% below median its historical median of 7.73. Over the past decade, Adani Total Gas' 3-Year ROIIC % has ranged from 3.21 to 35.21. According to the industry distribution chart, Adani Total Gas ranks #229 out of 477 companies in the Utilities - Regulated industry, placing it in the top 48%.
Is Adani Total Gas' 3-Year ROIIC % too high?
Adani Total Gas' current 3-Year ROIIC % of 4.56 is 41% below median its 10-year median of 7.73. Over the past 10 years, this metric has ranged from a low of 3.21 to a high of 35.21. The Utilities - Regulated industry median 3-Year ROIIC % is 4.02. Adani Total Gas' value of 4.56 is 13.4% above this industry median. Based on the distribution chart, Adani Total Gas ranks #229 out of 477 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Adani Total Gas has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' 3-Year ROIIC % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #229 out of 477 companies for 3-Year ROIIC %. This puts Adani Total Gas in the upper half of its industry. The industry median 3-Year ROIIC % is 4.02. Adani Total Gas' value of 4.56 is 13.4% above this benchmark. Historically, Adani Total Gas' own 3-Year ROIIC % has ranged from 3.21 to 35.21 over the past decade. While the company's 10-year median is 7.73 vs. the industry median of 4.02, Adani Total Gas 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 an Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 4.02, based on 477 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. Adani Total Gas's current 3-Year ROIIC % of 4.56 is 13.4% 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 Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 4.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current 3-Year ROIIC % is 4.56, which is 41% below median its own 10-year median of 7.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹847.40, compared to a current price of ₹723.90 — trading 14.6% below its estimated fair value. The current 3-Year ROIIC % is 4.56, which is 41% below median its 10-year median of 7.73 and 13.4% above the Utilities - Regulated industry median of 4.02. Adani Total Gas' overall GF Score™ is 93/100 with 8 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 Adani Total Gas (NSE:ATGL), the current 3-Year ROIIC % is 4.56 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 Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹723.90 is trading 14.6% below its estimated GF Value™ of ₹847.40.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
3-Year ROIIC %: 4.56 (41% below median its 10-year median of 7.73)
GF Value™: ₹847.40 vs. price of ₹723.90 (14.6% below fair value)
Industry Position: 13.4% above the Utilities - Regulated median (#229 of 477)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
93GF Score
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