Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Bharat ForgeNSE:BHARATFORG +1.62%78 3-Year ROIIC % is 28.77 as of Mar. 2026, which is 704% above its 10-year median of 3.58. GuruFocus rates NSE:BHARATFORG with a GF Score™ of 78/100 and a GF Value™ of ₹1,464.27 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,252 Vehicles & Parts companies, Bharat Forge ranks better than 79.31% 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.
Bharat Forge's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 28.77%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Bharat Forge's 3-Year ROIIC % or its related term are showing as below:
NSE:BHARATFORG's 3-Year ROIIC % is ranked better than 79.31% of 1252
companies
in the Vehicles & Parts industry
Industry Median: 4.235
vs NSE:BHARATFORG: 28.77
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.
Bharat Forge 3-Year ROIIC % Related Terms
Bharat Forge 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Bharat Forge'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:BHARATFORG vs ORLY, AZO: 3-Year ROIIC % Comparison
For the Auto Parts subindustry, Bharat Forge'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.
Bharat Forge 3-Year ROIIC % vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Bharat Forge's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Bharat Forge'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.
Bharat Forge (NSE:BHARATFORG) has a 3-Year ROIIC % of 28.77 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 Bharat Forge and its competitors. This is 704% above median its historical median of 3.58. According to the industry distribution chart, Bharat Forge ranks #259 out of 1252 companies in the Vehicles & Parts industry, placing it in the top 20.7%.
Is Bharat Forge's 3-Year ROIIC % too high?
Bharat Forge's current 3-Year ROIIC % of 28.77 is 704% above median its 10-year median of 3.58. The Vehicles & Parts industry median 3-Year ROIIC % is 4.24. Bharat Forge's value of 28.77 is 579.3% above this industry median. Based on the distribution chart, Bharat Forge ranks #259 out of 1252 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Bharat Forge has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bharat Forge's 3-Year ROIIC % compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Bharat Forge ranks #259 out of 1252 companies for 3-Year ROIIC %. This places Bharat Forge in the top 21% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 4.24. Bharat Forge's value of 28.77 is 579.3% above this benchmark. While the company's 10-year median is 3.58 vs. the industry median of 4.24, Bharat Forge 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 Vehicles & Parts company?
The median 3-Year ROIIC % among Vehicles & Parts companies is 4.24, based on 1,252 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. Bharat Forge's current 3-Year ROIIC % of 28.77 is 579.3% 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 Bharat Forge and its competitors. For the Vehicles & Parts industry, the median 3-Year ROIIC % is 4.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Forge's current 3-Year ROIIC % is 28.77, which is 704% above median its own 10-year median of 3.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Forge stock overvalued right now?
Based on GuruFocus' analysis, Bharat Forge (NSE:BHARATFORG) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹1,464.27, compared to a current price of ₹2,199.80 — trading 50.2% above its estimated fair value. The current 3-Year ROIIC % is 28.77, which is 704% above median its 10-year median of 3.58 and 579.3% above the Vehicles & Parts industry median of 4.24. Bharat Forge's overall GF Score™ is 78/100 with 6 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 Bharat Forge (NSE:BHARATFORG), the current 3-Year ROIIC % is 28.77 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 Bharat Forge (NSE:BHARATFORG) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Forge stock appears to be overvalued.
The current stock price of ₹2,199.80 is trading 50.2% above its estimated GF Value™ of ₹1,464.27.
GuruFocus considers Bharat Forge to be Significantly Overvalued.
Key valuation signals for NSE:BHARATFORG:
3-Year ROIIC %: 28.77 (704% above median its 10-year median of 3.58)
GF Value™: ₹1,464.27 vs. price of ₹2,199.80 (50.2% above fair value)
Industry Position: 579.3% above the Vehicles & Parts median (#259 of 1252)
No single metric tells the full story. See the NSE:BHARATFORG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Forge Ltd is an Indian multinational engaged in metal forging across different industries. The company has the following business units: automotive, power, oil and gas, construction and mining, rail, marine and aerospace. The automotive unit offers products including powertrain components, machines crankshafts, connecting rods, and piston. The Power business unit manufactures components for thermal, wind, hydro and nuclear applications. The Company divides its business into three reporting segments: "Forgings", "Defense", and "Others". The Forgings segment focuses on manufacturing forged components, while the Defense segment centers around defense-related activities. The "Others" segment encompasses all other businesses not covered by Forgings and Defense.
78GF Score
Get the complete analysis for NSE:BHARATFORG
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:BHARATFORG has been successfully added to your 
