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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.
Mahanagar Telephone Nigam's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 9.13%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Mahanagar Telephone Nigam's 3-Year ROIIC % or its related term are showing as below:
NSE:MTNL's 3-Year ROIIC % is ranked better than 66.38% of 351
companies
in the Telecommunication Services industry
Industry Median: 1.48
vs NSE:MTNL: 9.13
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.
Mahanagar Telephone Nigam 3-Year ROIIC % Related Terms
Mahanagar Telephone Nigam 3-Year ROIIC % Historical Data
* 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:MTNL vs VZ, TMUS, T: 3-Year ROIIC % Comparison
For the Telecom Services subindustry, Mahanagar Telephone Nigam'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.
Mahanagar Telephone Nigam 3-Year ROIIC % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Mahanagar Telephone Nigam's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Mahanagar Telephone Nigam'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.
Mahanagar Telephone Nigam (NSE:MTNL) has a 3-Year ROIIC % of 9.13 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 Mahanagar Telephone Nigam and its competitors. According to the industry distribution chart, Mahanagar Telephone Nigam ranks #118 out of 351 companies in the Telecommunication Services industry, placing it in the top 33.6%.
Is Mahanagar Telephone Nigam's 3-Year ROIIC % too high?
Mahanagar Telephone Nigam's current 3-Year ROIIC % is 9.13. The Telecommunication Services industry median 3-Year ROIIC % is 1.48. Mahanagar Telephone Nigam's value of 9.13 is 516.9% above this industry median. Based on the distribution chart, Mahanagar Telephone Nigam ranks #118 out of 351 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Mahanagar Telephone Nigam has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Telephone Nigam's 3-Year ROIIC % compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Mahanagar Telephone Nigam ranks #118 out of 351 companies for 3-Year ROIIC %. This puts Mahanagar Telephone Nigam in the upper half of its industry. The industry median 3-Year ROIIC % is 1.48. Mahanagar Telephone Nigam's value of 9.13 is 516.9% above 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 a Telecommunication Services company?
The median 3-Year ROIIC % among Telecommunication Services companies is 1.48, based on 351 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. Mahanagar Telephone Nigam's current 3-Year ROIIC % of 9.13 is 516.9% 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 Mahanagar Telephone Nigam and its competitors. For the Telecommunication Services industry, the median 3-Year ROIIC % is 1.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Telephone Nigam's current 3-Year ROIIC % is 9.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Telephone Nigam stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam (NSE:MTNL) is currently considered Possible Value Trap. The stock's GF Value™ is ₹45.10, compared to a current price of ₹27.81 — trading 38.3% below its estimated fair value. The current 3-Year ROIIC % is 9.13 and 516.9% above the Telecommunication Services industry median of 1.48. Mahanagar Telephone Nigam's overall GF Score™ is 52/100 with 4 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 Mahanagar Telephone Nigam (NSE:MTNL), the current 3-Year ROIIC % is 9.13 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 Mahanagar Telephone Nigam (NSE:MTNL) Overvalued in 2026?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam stock appears to be undervalued.
The current stock price of ₹27.81 is trading 38.3% below its estimated GF Value™ of ₹45.10.
GuruFocus considers Mahanagar Telephone Nigam to be Possible Value Trap.
Key valuation signals for NSE:MTNL:
3-Year ROIIC %: 9.13
GF Value™: ₹45.10 vs. price of ₹27.81 (38.3% below fair value)
Industry Position: 516.9% above the Telecommunication Services median (#118 of 351)
No single metric tells the full story. See the NSE:MTNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mahanagar Telephone Nigam Ltd is an India-based company that provides telecommunications services. The company's operating segment includes the Basic and Cellular segments. It generates maximum revenue from the Basic segment. The company offers various telecom services, including fixed telephone service, GSM (including 3G services), Internet, Broadband, ISDN, and Leased Line services.
52GF Score
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