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.
Spruce Biosciences's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -516.05%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Spruce Biosciences's 3-Year ROIIC % or its related term are showing as below:
SPRB's 3-Year ROIIC % is ranked worse than 89.73% of 1324
companies
in the Biotechnology industry
Industry Median: -4.42
vs SPRB: -516.05
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.
Spruce Biosciences 3-Year ROIIC % Related Terms
Spruce Biosciences 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Spruce Biosciences'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.
SPRB vs TLSA, MIST, TNYA: 3-Year ROIIC % Comparison
For the Biotechnology subindustry, Spruce Biosciences'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.
Spruce Biosciences 3-Year ROIIC % vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Spruce Biosciences's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Spruce Biosciences's 3-Year ROIIC % falls into.
Spruce Biosciences'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**
=
( -36.513 (Dec. 2025) - -47.283 (Dec. 2022) )
/
( 3 (Dec. 2025) - 5.087 (Dec. 2022) )
=
10.77
/
-2.087
=
-516.05%***
* 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.
Spruce Biosciences (SPRB) has a 3-Year ROIIC % of -516.05 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 Spruce Biosciences and its competitors. According to the industry distribution chart, Spruce Biosciences ranks #1188 out of 1324 companies in the Biotechnology industry, placing it in the top 89.7%.
Is Spruce Biosciences' 3-Year ROIIC % too high?
Spruce Biosciences' current 3-Year ROIIC % is -516.05. Based on the distribution chart, Spruce Biosciences ranks #1188 out of 1324 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Spruce Biosciences has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spruce Biosciences' 3-Year ROIIC % compare to TLSA and MIST?
According to the Biotechnology industry distribution chart, Spruce Biosciences ranks #1188 out of 1324 companies for 3-Year ROIIC %. This places Spruce Biosciences in the lower half of its industry. 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 Biotechnology company?
A good 3-Year ROIIC % depends on the Biotechnology industry context. 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 Spruce Biosciences and its competitors. Spruce Biosciences's current 3-Year ROIIC % is -516.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spruce Biosciences stock overvalued right now?
Based on GuruFocus' analysis, Spruce Biosciences (SPRB) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.08, compared to a current price of $52.51 — trading 1187% above its estimated fair value. The current 3-Year ROIIC % is -516.05. Spruce Biosciences' overall GF Score™ is 40/100 with 1 warning sign 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 Spruce Biosciences (SPRB), the current 3-Year ROIIC % is -516.05 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 Spruce Biosciences (SPRB) Overvalued in 2026?
Based on GuruFocus' analysis, Spruce Biosciences stock appears to be overvalued.
The current stock price of $52.51 is trading 1187% above its estimated GF Value™ of $4.08.
GuruFocus considers Spruce Biosciences to be Significantly Overvalued.
Key valuation signals for SPRB:
3-Year ROIIC %: -516.05
GF Value™: $4.08 vs. price of $52.51 (1187% above fair value)
No single metric tells the full story. See the SPRB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spruce Biosciences Inc is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with unmet medical needs. The company develops biologics and small-molecule product candidates aimed at addressing diseases with unmet medical needs and limited or no approved therapies. Its product candidate, TA-ERT for the treatment of Mucopolysaccharidosis Type IIIB (MPS IIIB), is a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase (rhNAGLU) intended as an enzyme replacement therapy for patients who lack rhNAGLU enzyme activity. TA-ERT is designed to restore rhNAGLU enzyme activity in the central nervous system following intracerebroventricular injection and promote clearance of heparan sulfate in the brain.
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